761 research outputs found
The Country of Sagouine
No full textView of houses raised on piers over the tidal marsh, looking out to the estuary; connected by large boardwalk; Le Pays de la Sagouine is a reenactment of the Acadian culture, founded by Antonine Maillet. She wanted to show what it was like to live the Acadian life and after writing over forty novels on the Acadians, she did just that, creating a small village on an island near Bouctouche. The name comes from her novel/play La Sagouine, the story of la Sagouine, an Acadian washerwoman from rural New Brunswick. The island (Flea island / Île-aux-Puces) where Le Pays de la Sagouine is standing was owned by Antoine LeBlanc of Bouctouche. It is a tourist site, with a cast giving performances as Acadian characters, (in the Acadian dialect) with Acadian music and food. Source: Wikipedia; http://en.wikipedia.org/wiki/Main_Page (accessed 5/12/2011
Dynamic large financial networks via conditional expected shortfalls
Get PDFIn this article, we first generalize the Conditional Auto-Regressive Expected Shortfall (CARES) model by introducing the loss exceedances of all (other) listed companies in the Expected Shortfall related to each firm, thus proposing the CARES-X model (where the ‘X’, as usual, stands for eXtended in the case of large-dimensional problems). Second, we construct a regularized network of US financial companies by introducing the Least Absolute Shrinkage and Selection Operator in the estimation step. Third, we also propose a calibration approach for uncovering the relevant edges between the network nodes, finding that the estimated network structure dynamically evolves through different market risk regimes. We ultimately show that knowledge of the extreme risk network links provides useful information, since the intensity of these links has strong implications on portfolio risk. Indeed, it allows us to design effective risk management mitigation allocation strategies
Bayesian dynamic quantile model averaging
Get PDFThis article introduces a novel dynamic framework to Bayesian model averaging for time-varying parameter quantile regressions. By employing sequential Markov chain Monte Carlo, we combine empirical estimates derived from dynamically chosen quantile regressions, thereby facilitating a comprehensive understanding of the quantile model instabilities. The effectiveness of our methodology is initially validated through the examination of simulated datasets and, subsequently, by two applications to the US inflation rates and to the US real estate market. Our empirical findings suggest that a more intricate and nuanced analysis is needed when examining different sub-period regimes, since the determinants of inflation and real estate prices are clearly shown to be time-varying. In conclusion, we suggest that our proposed approach could offer valuable insights to aid decision making in a rapidly changing environmen
A meta-measure of performance related to both investors and investments characteristics
No full textWe introduce hereafter a new flexible meta-measurement of portfolio performance, called the Generalized Utility-based N-moment measure, relying both on a characterization of the whole return distribution and on the set of preferences of the investor, which is adapted to analyze the performance of hedge funds. It could also serve as the basis of a Fraudulent Behavior Index aiming to detect fraudulent funds
Lettre de Louis Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (consul de France au Caire) datée du 30 juillet 1698
No full textLettre de Louis Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (consul de France au Caire) datée du 30 juillet 1698. In: Correspondance administrative sous le règne de Louis XIV, recueillie et mise en ordre par G. B. Depping. Tome IV et dernier. Travaux publics – Affaires religieuses – Protestants – Sciences, lettres et arts – Pièces diverses. Paris : Imprimerie nationale, 1855. pp. 181-182
Lettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (ambassadeur auprès de l'empereur d'Abyssinie) datée du 07 février 1703
No full textLettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (ambassadeur auprès de l'empereur d'Abyssinie) datée du 07 février 1703. In: Correspondance administrative sous le règne de Louis XIV, recueillie et mise en ordre par G. B. Depping. Tome IV et dernier. Travaux publics – Affaires religieuses – Protestants – Sciences, lettres et arts – Pièces diverses. Paris : Imprimerie nationale, 1855. p. 185
Lettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (ambassadeur auprès de l'empereur d'Abyssinie) datée du 29 novembre 1702
No full textLettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (ambassadeur auprès de l'empereur d'Abyssinie) datée du 29 novembre 1702. In: Correspondance administrative sous le règne de Louis XIV, recueillie et mise en ordre par G. B. Depping. Tome IV et dernier. Travaux publics – Affaires religieuses – Protestants – Sciences, lettres et arts – Pièces diverses. Paris : Imprimerie nationale, 1855. pp. 184-185
Lettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (consul de France au Caire) datée du 22 juin 1701
No full textLettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (consul de France au Caire) datée du 22 juin 1701. In: Correspondance administrative sous le règne de Louis XIV, recueillie et mise en ordre par G. B. Depping. Tome IV et dernier. Travaux publics – Affaires religieuses – Protestants – Sciences, lettres et arts – Pièces diverses. Paris : Imprimerie nationale, 1855. p. 183
Systemic risk and severe economic downturns: A targeted and sparse analysis
Get PDFRecent studies indicate that systemic risk has predictive power over severe economic downturns. We propose a novel methodology that employs sparsity and targeting approaches to optimally select and combine systemic risk measures to forecast the tail of a given economic variable. Out-of-sample analysis shows that the optimal combination of systemic risk metrics may vary over time, forecasting horizons and economic proxies. Moreover, a few systemic risk measures contain all the important information for capturing the relation between systemic risk and real economy; therefore, a fixed and static combination approach may not be optimal, and the flexible parsimonious extension we introduce leads to improvement in forecasting performance
Lettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (consul de France au Caire) datée du 25 mai 1701
No full textLettre de Jérôme Phélypeaux de Pontchartrain (secrétaire d'Etat de la Marine et de la Maison du roi) à Benoît de Maillet (consul de France au Caire) datée du 25 mai 1701. In: Correspondance administrative sous le règne de Louis XIV, recueillie et mise en ordre par G. B. Depping. Tome IV et dernier. Travaux publics – Affaires religieuses – Protestants – Sciences, lettres et arts – Pièces diverses. Paris : Imprimerie nationale, 1855. pp. 182-183
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