Substitute function with deep object access

substitute.js

function substitute(string, object, regexp) {
    return string.replace(regexp || (/\\?\{([^{}]+)\}/g), function (match, name) {
        if (match.charAt(0) == '\\') return match.slice(1);
        name = name.split('.');
        var tmpObj = object;
        while(name.length) {
            tmpObj = tmpObj[name.splice(0,1)[0]];
        }
        return (tmpObj != null) ? tmpObj : '';
    });
}