1,240 research outputs found
Term Structure Forecasting: No-arbitrage Restrictions Versus Large Information set
No full textThis paper addresses the issue of forecasting the term structure. We provide a unified state-space modelling framework that encompasses different existing discrete-time yield curve models. Within such framework we analyze the impact of two modelling choices, namely the imposition of no-arbitrage restrictions and the size of the information set used to extract factors, on the forecasting performance. Using US yield curve data, we find that both no-arbitrage and large info help in forecasting but no model uniformly dominates the other. No-arbitrage models are more useful at shorter horizon for shorter maturities. Large information sets are more useful at longer horizons and longer maturities. We also find evidence for a significant feedback from yield curve models to macroeconomic variables that could be exploited for macroeconomic forecasting
Co-movements of Shanghai and New York Stock prices by time-varying regressions
No full textWe estimate a time-varying regression model to study the relationship between returns in the Shanghai and New York stock markets, with possible inclusion of lagged returns. The parameters of the regressions reveal that the effect of the current stock return for New York on that for Shanghai steadily increases after the 1997 Asian financial crisis and turns significantly and persistently positive after 2002, when China entered WTO. The effect of the current return for Shanghai on New York also becomes significantly positive and increasing after 2002. The upward trend has been interrupted during the recent global financial crisis, but reaches the level of about 0.4 to 0.5 in 2010 for both markets. Our results show that China’s stock market has become more and more integrated into the world market in the past twenty years, with interruptions occurring during the recent global economic downturn.China; globalization; rate of return; stock markets; time-varying parameter regression
The Introduction of the Euro and Inflation: Cross-country Differences in Perceived Inflation
No full textThis dissertation thesis examines the divergence of perceived inflation, measured by the EU Consumer Surveys, and officially measured inflation after the introduction of cash euro in several eurozone countries. Two groups of countries are tested in the thesis -- countries accepting the euro in 2002 and countries providing the changeover in later years. The main goal of the thesis is to test cross-country differences between officially measured and perceived inflation with respect to economic, social and cultural specifics of the countries in the eurozone, while main focus is given to examining the differences between the above-mentioned two groups of countries. The results obtained could help to derive policy conclusions for the other EU countries which have not yet accepted the common currency
Some Studies of the Two-Fluid Navier-Stokes-Poisson System around Non-trivial Profiles
No full textNiu, Xiaohui.Thesis M.Phil. Chinese University of Hong Kong 2015.Includes bibliographical references (leaves ).Abstracts also in Chinese.Title from PDF title page (viewed on …)
Niu (紐) in Early Medieval China from the Perspectives of Chinese Historical Phonology and Versification
No full textThe Recent Style Prosody, consisting of the binary opposition of the level (ping, 平) and deflected (ze, 仄) tones, has gained a prominent position amongst the study of versification. Yet the origins of the bifurcation of the four tones and the imposition of tonal rules on couplets remain unknown to scholars. This dissertation attempts to examine the origins and reception of prosodic and phonological terms adopted from the 4th to 9th centuries, with the aid of Siddham and Sanskrit corpuses. This paper provides a detailed explanation on the possible origin and development of Niu (紐), a significant term adopted in the realms of Chinese Historical Phonology and Versification, particularly "Eight Defects" (八病) mentioned in Bunkyôhifuron. The three Definitions of Zhengniu (正紐) Pangniu (傍紐) found in Bunkyôhifuron should be regarded as a late development, whereas the pseudo equivalent Daniu (大紐) and Xiaoniu (小紐) correspond to an earlier usage usually attributed to Shen Yue. Through a careful examination of Sanskrit texts, the author has come to the conclusion that Mair and Mei's identification of Niu with bandha (pattern poetry) is questionable; on the contrary, Niu is an exact counterpart of the term yamaka (repetition of syllables) in Sanskrit Poetics. As opposed to Sanskrit corpus which treats yamaka as euphony (śabdālamkāra), the Pāli Text Subodhālankāra shares common features with the "Eight Defects" that regard Niu as a prosodic defect (dosa). It is reasonable to argue that the concept of yamaka was borrowed from a Prakrit secular tradition other than Classical Sanskrit Poetics
Online Iterative Adaptive Dynamic Programming Approach for Solving the Zero-Sum Game for Nonlinear Continuous-Time Systems with Partially Unknown Dynamics
No full textThe current study presents an online iterative adaptive dynamic programming approach to resolve the zero-sum game (ZSG) for nonlinear continuous-time (CT) systems containing a partially unknown dynamic. The Hamilton-Jacobian-Issacs (HJI) equation is solved along the state trajectory according to the value function approximation and the policy improvement online. Relaxed dynamic programming is utilized to ensure the algorithm’s convergence. Model and costate networks were established to conduct the method. Computational simulations are performed to present the efficiency of the algorithm.Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.Control & Simulatio
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Correction: Interface-engineered reliable HfO2-based RRAM for synaptic simulation (Journal of Materials Chemistry C (2019) DOI: 10.1039/c9tc04880d)
No full textThere was an error in the author list of this published article. The corresponding authors for this paper are Gang Niu ([email protected]) and Wei Ren ([email protected]). The footnote indicating that Qiang Wang and Gang Niu contributed equally to the work was not intended. The corrected author list and notations are shown here. The Royal Society of Chemistry apologises for these errors and any consequent inconvenience to authors and readers. © The Royal Society of Chemistry 2019
Formation Control of Skid-Steered Vehicles Based on Distributed Model Predictive Control
No full textThe skid-steered vehicle has the advantages of simple structure and strong maneuverability. Its formation driving can effectively improve safety, reduce energy consumption and exert its benefits, and has wide application prospects in military and civilian fields. Differential skid steering has strong horizontal and vertical coupling characteristics, so the tracking performance of the vehicle is poor. Therefore, it is of great significance to study horizontal and vertical joint control. Firstly, the mathematical model of the vehicle platoon is established to realize the formation control of skid-steered vehicles. Then, a combined horizontal and vertical control strategy for skid-steered vehicle formation is proposed, and a distributed model predictive controller is designed. Finally, simulation experiments verified that the designed method has good feasibility and stability.Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.Transport and Plannin
On tracial approximation
No full textAbstractLet C be a class of unital C*-algebras. The class TAC of C*-algebras which can be tracially approximated (in the Egorov-like sense first considered by Lin) by the C*-algebras in C is studied (Lin considered the case that C consists of finite-dimensional C*-algebras or the tensor products of such with C([0,1])). In particular, the question is considered whether, for any simple separable A∈TAC, there is a C*-algebra B which is a simple inductive limit of certain basic homogeneous C*-algebras together with C*-algebras in C, such that the Elliott invariant of A is isomorphic to the Elliott invariant of B. An interesting case of this question is answered. In the final part of the paper, the question is also considered which properties of C*-algebras are inherited by tracial approximation. (Results of this kind are obtained which are used in the proof of the main theorem of the paper, and also in the proof of the classification theorem of the second author given in [Z. Niu, A classification of tracially approximately splitting tree algebra, in preparation] and [Z. Niu, A classification of certain tracially approximately subhomogeneous C*-algebras, PhD thesis, University of Toronto, 2005]—which also uses the main result of the present paper.
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