of whose land is fertile, the bulk of the population resides in a few clusters of metropolitan areas; a quarter of the inhabitants are crowded into a not especially inviting section of the East Coast. It has often been noted that nighttime satellite

This paper examines the relation between stock returns and stock market volatility. We find evidence that the expected market risk premium (the expected return on a stock portfolio minus the Treasury bill yield) is positively related to the predictable volatility of stock returns. There is also

The Cooperative File System (CFS) is a new peer-to-peer readonly storage system that provides provable guarantees for the efficiency, robustness, and load-balance of file storage and retrieval. CFS does this with a completely decentralized architecture that can scale to large systems. CFS servers provide a distributed hash table (DHash) for block storage. CFS clients interpret DHash blocks as a file system. DHash distributes and caches blocks at a fine granularity to achieve load balance, uses replication for robustness, and decreases latency with server selection. DHash finds blocks using the Chord location protocol, which operates in time logarithmic in the number of servers. CFS is implemented using the SFS file system toolkit and runs on Linux, OpenBSD, and FreeBSD. Experience on a globally deployed prototype shows that CFS delivers data to clients as fast as FTP. Controlled tests show that CFS is scalable: with 4,096 servers, looking up a block of data involves contacting only seven servers. The tests also demonstrate nearly perfect robustness and unimpaired performance even when as many as half the servers fail.

Multimedia communication involving digital audio and/or digital video has rather strict delay requirements. A real-time channel is defined in this paper as a simplex connection between a source and a destination characterized by parameters representing the performance requirements of the client. A real-time service is capable of creating realtime channels on demand and guaranteeing their performance. These guarantees often take the form of lower bounds on the bandwidth allocated to a channel and upper bounds on the delays to be experienced by a packet on the channel. In this paper

-tolerant, wide-area overlay routing and location network.

volatility persistence. Meanwhile, when judged by standard forecast evaluation criteria, based on the squared or absolute returns over daily or longer forecast horizons, standard volatility models provide seemingly poor forecasts. The present paper demonstrates that, contrary to this contention

hash-coding method. The computational factors considered are the size of the hash area (space), the time required to identify a message as a nonmember of the given set (reject time), and an allowable error frequency

relevant to data stream systems and current projects in the area, the paper explores topics in stream query languages, new requirements and challenges in query processing, and algorithmic issues.

We present a consumption-based model that explains a wide variety of dynamic asset pricing phenomena, including the procyclical variation of stock prices, the long-horizon predictability of excess stock returns, and the countercyclical variation of stock market volatility. The model captures much

Abduction in Logic Programming started in the late 80s, early 90s, in an attempt to extend logic programming into a framework suitable for a variety of problems in Artificial Intelligence and other areas of Computer Science. This paper aims to chart out the main developments of the field over