We prove exponential estimates for plurisubharmonic functions with respect to Monge-Amp`ere measures with H¨older continuous potential. As an application, we obtain several stochastic properties for the equilibrium measures associated to holomorphic maps on projective spaces. More precisely, we prove the exponential decay of correlations, the central limit theorem for general d.s.h. observables, and the large deviations theorem for bounded d.s.h. observables and H¨older continuous observables.

High dimensionality comparable to sample size is common in many statistical problems. We examine covariance matrix estimation in the asymptotic framework that the dimensionality p tends to as the sample size n increases. Motivated by the Arbitrage Pricing Theory in finance, a multi-factor model is employed to reduce dimensionality and to estimate the covariance matrix. The factors are observable and the number of factors K is allowed to grow with p. We investigate the impact of p and K on the performance of the model-based covariance matrix estimator. Under mild assumptions, we have established convergence rates and asymptotic normality of the model-based estimator. Its performance is compared with that of the sample covariance matrix. We identify situations under which the factor approach increases performance substantially or marginally. The impacts of covariance matrix estimation on optimal

Economists historically measure the degree to which the market is surprised by an earnings announcement by the consensus forecast error, defined as difference between the actual earnings and the consensus forecast. The consensus might be calculated using either the mean or median of security analysts forecasts. The premise of this measure is that the consensus forecast is a good proxy for the markets expectation of earnings. Hence the consensus forecast error captures how surprised the market is when the earnings is announced. The consensus forecast error is a building block of a host of studies across finance, accounting and economics (see for a survey of event studies in Kothari (2001)). For instance, in finance and accounting, it is used in event studies of how efficiently markets react to earnings announcements. Efficient market studies when it comes to bond or currency markets and macroeconomic

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Let$F$be families of meromorphic functions in a domain$D$, and let$R$be a rational function whose degree is at least 3. If, for any$f∈$$F$, the composite function$R(f)$has no fixed-point in$D$, then$F$is normal in$D$. The number 3 is best possible. A new and much simplified proof of a result of Pang and Zalcman concerning normality and, shared values is also given.