The topic of the School "Econometrics of Duration Data with Macroeconomic Applications". Nicholas Kiefer, Professor in the Dept of Statistical Sciences, Cornell University, USA, will be the Distinguished Guest Professor. Up to 30 students will be accepted to the program. Nicholas M. Kiefer works primarily in econometrics and statistics with applications in fiancial economics, credit scoring and risk management in banking, consumer trend forecasting, and development of quantitative management techniques. his work on the value of information, using a dynamic programming framework, led to results on the possibility and potential optimality of learning. 

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