The idea of stealing cycles has been hyped for some years, boasting unlimited potential by tapping the computational power of millions of under utilized PCs connected to the Internet. Despite a few spectacular success stories (e.g. SETI@HOME), cycle-stealing is today not a widely used...

In this paper we introduce a new nonlinear Markov-STAR model to capture both the markov switching and smooth transition dynamics for real exchange rates. The Markov switching part captures the effect of time variations of the equilibrium exchange rates, while the smooth transition part models...

In models that have a representation of the form       ) , ( x g y the Wald test for ˆBeta has systematically wrong size in finite samples when the indentifying parameter Gamma is small relative to its estimation error. An alternative test based on linearization of g(.) can be...