7,408 research outputs found
Bubbles, Fads, and Stock Price Volatility Tests: A Partial Evaluation
No full textThis is a summary and interpretation of some of the literature on stock price volatility that was stimulated by Leroy and Porter (1981) and Shiller (1981a). It appears that neither small sample bias, rational bubbles nor some standard models for expected returns adequately explain stock price volatility. This suggests a role for some nonstandard models for expected returns. One possibility is "fads" models in which noise trading by naive investors is important. At present, however, there is little direct evidence that such fads play a significant role in stock price determination.
Understanding the price puzzle
No full textRecent developments in measuring the stance of monetary policy have highlighted an interesting puzzle--namely, that an unexpected tightening in monetary policy leads to an increase rather than a decrease in the price level. In this article, Nathan Balke and Kenneth Emery present evidence on the price puzzle and discuss possible explanations for it. ; Balke and Emery find that the most plausible explanation is that, during the 1960s and '70s, monetary policy was not implemented in a way that fully offset inflationary supply shocks. During this period, monetary policy would tighten in response to a supply shock but not by enough to prevent inflation from rising. In the data, therefore, contractionary policy is positively correlated with inflation. Since the early 1980s, however, the price puzzle has disappeared for either one, or both, of two reasons: the Federal Reserve has placed greater emphasis on achieving price stability, or there have been fewer inflationary supply shocks to the economy.Prices
Edition, Project, Database, Archive, Thematic Research Collection: What\u27s in a Name?
No full textWhat are the implications of the terms we use to describe large-scale text-based electronic scholarship, especially undertakings that share some of the ambitions and methods of the traditional multi-volume scholarly edition? And how do the conceptions inherent in these choices of language frame and perhaps limit what we attempt? How do terms such as edition, project, database, archive, and thematic research collection relate to the past, present, and future of textual studies? Kenneth M. Price considers how current terms describing digital scholarship both clarify and obscure our collective enterprise. Price argues that the terms we use have more than expressive importance. The shorthand we invoke when explaining our work to others shapes how we conceive of and also how we position digital scholarship
Modification of nektonic fish distribution by piers and pile fields in an urban estuary
No full textLarge urban piers degrade habitat value for several estuarine benthic fish species by shading, but their effects on mobile nektonic species is less well understood due to sampling challenges. Dual Frequency Identification Sonar (DIDSON) allowed equal access to sampling in the water column of structured shaded and unshaded vs. open environments in both dark and light conditions by methods similar to video but without light. Sampling (n = 228, 5-minute transects) occurred under and around four large municipal piers of varying dimensions in the Hudson River estuary during day and night from summer and fall in 2007 - 2009. The distribution of small (5 - 25 cm in length) and large (25 – 850 cm) fishes were analyzed separately in recognition of functional guild differences. Small fishes occupied open water, shaded under-pier, and un-decked relict piling habitats, but were significantly more abundant during the day in open unshaded water than under adjacent piers or in piling habitats.. Small fish occurred under 3 of 4 piers of varying size and configuration at 10 - 20% of the median abundances of adjacent open water. However, while schools were rare under piers they could be very large, so that abundance greatly exceeded mean open water abundance variance so as to preclude confidence in differences among piers. The differences among habitats was not significant at night, and the difference among piers was also not significant at night. School membership for small fish appeared to mitigate adverse effects of shading and may influence scaling of their response to shading and could therefore influence pier design. Large (>25 cm) predatory fish were uncommon but responded similarly to habitat effects as did small fish. Habitats did not segregate fish by guild as small forage fish co-occurred in 65.8% of samples with large piscivores. Studies that provide species-specific and mechanistic interpretation of dynamic habitat use as well as further quantification of scaling effects could improve our understanding of how fishes respond to piers and other structures on urban shorelines.Peer reviewed
Kenneth M Alexander - Author and Artist
No full textI was born to Dennis and Kathleen Alexander in a single motor garage at 21 Limerick Road in Athlone. In those days, the midwife would do her rounds on a bicycle at the time when the stork was seen flying over the now-collapsed, missing going, gone forever Athlone Towers. Either that or she went to the foot of Table Mountain and placed a hollowed out pumpkin with a precision cut hole in one side. The monkey would come, stick his or her hand in the hole, grab some pips and in trying to pull its hand out in a fist, it gets stuck. The midwife then pounces on the helpless monkey, knocks it out with her case, and then stuffs "it" into that same black case and off she motors on her "dik" wheel bicycle to deliver the latest addition to an Athlone family. The monkey cries with relief when let out of the case. I have since moved on from that belief system. For some reason, the majority of the employers I worked for still believe that. In fact, far too many white people still do. To them we are monkeys and they pay us with peanuts
Kenneth M. Ford
No full textKenneth Ford is Founder and Chief Executive Officer of the Florida Institute for Human & Machine Cognition (IHMC) — a not-for-profit research institute located in Pensacola, Florida. IHMC has grown into one of the nation’s premier research organizations with world-class scientists and engineers investigating a broad range of topics related to building technological systems aimed at amplifying and extending human cognition, perception, locomotion and resilience. Richard Florida has described IHMC as “a new model for interdisciplinary research institutes that strive to be both entrepreneurial and academic, firmly grounded and inspiringly ambitious.” IHMC headquarters are in Pensacola with a branch research facility in Ocala, Florida.
Dr. Ford is the author of hundreds of scientific papers and six books. Dr. Ford’s research interests include: artificial intelligence, cognitive science, human-centered computing, and entrepreneurship in government and academia. Dr. Ford received his Ph.D. in Computer Science from Tulane University. He is Emeritus Editor-in-Chief of AAAI/MIT Press and has been involved in the editing of several journals. Ford is a Fellow of the Association for the Advancement of Artificial Intelligence (AAAI), a charter Fellow of the National Academy of Inventors, a member of the Association for Computing Machinery, a member of the IEEE Computer Society, and a member of the National Association of Scholars. Ford has received many awards and honors including the Doctor Honoris Causas from the University of Bordeaux in 2005 and the 2008 Robert S. Englemore Memorial Award for his work in artificial intelligence (AI). In 2012 Tulane University named Ford its Outstanding Alumnus in the School of Science and Engineering. In 2015, the Association for the Advancement of Artificial Intelligence named Dr. Ford the recipient of the 2015 Distinguished Service Award. Also in 2015, Dr. Ford was elected as Fellow of the American Association for the Advancement of Science (AAAS). In 2017 Dr. Ford was inducted into the Florida Inventor’s Hall of Fame.
In January 1997, Dr. Ford was asked by NASA to develop and direct its new Center of Excellence in Information Technology at the Ames Research Center in Silicon Valley. He served as Associate Center Director and Director of NASA’s Center of Excellence in Information Technology. In July 1999, Dr. Ford was awarded the NASA Outstanding Leadership Medal. That same year, Ford returned to private life and to the IHMC.
In October of 2002, President George W. Bush nominated Dr. Ford to serve on the National Science Board (NSB) and the United States Senate confirmed his nomination in March of 2003. The NSB is the governing board of the National Science Foundation (NSF) and plays an important role in advising the President and Congress on science policy issues. In 2005, Dr. Ford was appointed and sworn in as a member of the Air Force Science Advisory Board.
In 2007, he became a member of the NASA Advisory Council and on October 16, 2008, Dr. Ford was named as Chairman – a capacity in which he served until October 2011. In August 2010, Dr. Ford was awarded NASA’s Distinguished Public Service Medal – the highest honor the agency confers.
In February of 2012, Dr. Ford was named to a two-year term on the Defense Science Board (DSB) and in 2013, he became a member of the Advanced Technology Board (ATB) which supports the Office of the Director of National Intelligence (ODNI). In 2018, Dr. Ford was appointed to the National Security Commission on Artificial Intelligence.https://commons.erau.edu/space-congress-bios-2019/1005/thumbnail.jp
The use of New York cotton futures contracts to hedge cotton price risk in developing countries
No full textCotton exports account for a significant share of commodity exports for some developing countries, especially in West Africa and Central Asia. In these countries, dependency on cotton for export revenues has increased in the past 20 years. These countries therefore have a high exposure to cotton price volatility. Cotton-producing developing countries and economies in transition make little use of hedging mechanisms to reduce risk from the volatility of cotton export revenues. Countries in Francophone West Africa use forward sales to hedge but only for a small share of the crop. These countries could use cotton futures and options contracts to hedge against short- to medium-term price volatility, making cotton export revenues more predictable. Cotton futures and options contracts could also make cotton-related commercial transactions more flexible. (Futures could be sold when there are no buyers in the physical market, for example.) In West Africa, futures and options could complement the existing system of forward sales. The authors examine the feasibility of using New York cotton futures and options contracts as hedging instruments. They base their analysis on a portfolio selection problem in which the hedger selects the optimal proportions of unhedged and hedged output to minimize risk. The results suggest that despite the existence of relatively high basis risk (that is, a relatively low correlation between spot and future prices), hedging reduces cotton price volatility by 30 to 70 percent. Moreover, for all varieties of cotton examined, the hedge ratio (the percentage of exports hedged) was below one. Using a hedge ratio of one (naive hedge), at times, increases rather than decreases risk. The results also show that hedging, while reducing risk, also reduces expected returns. Attitudes toward risk that is, the degree of risk aversion - determine how much of this risk-return tradeoff is acceptable. For a risk-averse agent, the main benefit of hedging lies in risk reduction rather than in the potential for increased returns.Insurance&Risk Mitigation,Environmental Economics&Policies,Non Bank Financial Institutions,Financial Intermediation,Insurance Law
Kenneth M. Price. <i>Whitman in Washington: Becoming the National Poet</i>.
No full textA review of Kenneth M. Price's Whitman in Washington: Becoming the National Poet in the Federal City
Program, The Chicago Music Association, Dorothy Jordan, November 1, 1959, Including a Performance of a Work by Florence Price
No full textI'm Workin' on My Buildin'Concert program hosted by the Chicago Music Association, November 1, 1959. Jordan, accompanied by Eleanor Paschal, performed Price's "I'm Workin' on My Buildin'."THE CHICAGO MUSIC ASSOCIATION
Presents
DOROTHY JORDAN
Soprano
ALYCE M. MEINE
Organist
In JOINT RECITAL
Sunday Nov. 1st, 1959
at 5 P.M.
ABRAHAM LINCOLN CENTER 700 East Oakwood Boulevard
Chicago
Theodore Charles Stone, President Clarice Saunders, Secretary
Ruth P. Henderson, Chairman
William Robinson, Co-Chairman
A Branch of the National Association of Negro Musicians, Inc.; Kenneth B. Billups, PresidentPrelude in G Major
I
Bach
Komm, Susser Tod, Komm, Sel ‘gi Ruh’........................................Bach
(arranged by Virgil Fox)
Toccata and Fugue in D Minor......................................................Bach
II
Widmung ......................................................................................Schumann
Thou my soul, my heart, my joy, my pain, my heaven, my grave for my woes, my peace, my better self.
Zueignung..........................................................................Richard Strauss
Beloved you know that I suffer when I am far from you. But even this suffering is exultation. Thank you! Once I lived a full life, but you have understood and blessed me. Thank you! You have freed me from evil and in your sacred love. I have been reborn. Thank You!
Chanson Norvegienne..............................................................Fourdrain
I am seized with a sadness which presses heavily. He whom I love tenderly hath betrayed me. There is a fete in the village and I dance to hide my sorrow, but it seems to me, at every step I turn in a flood of tears.
Quelle Souffrance......................................................................Lenormand
Fair and winsome maiden how your beauty haunts me! Only could I whisper how completely you entrance me! I’d tell you my love, but when ever I try, my voice is strangely stilled by that something divine about you; untold hopes, I keep them, lips dare not speak them. Oh! saddest of sorrows! my fainting heart’s fondness I cannot tell.III
Song of the Basket Weaver
Russell
(An old French-Canadian woman sits at the door of her cabin singing a song of long ago, while her deft fingers fashion a basket
of river grasses. St. Lawrence Sketches)
Starlight......................................................................................Karg - Elert
(Unter dem gestirnten Himmel)
Romance Sans Paroles....................................................................Bonnet
(Sixth Symphony)
Intermezzo ...........................................................................................Widor
IV
Aria: Adieu, Forets from “Jeanne d’Arc”............P I Tchaikowsky
Recitative: So will the Lord! I must obey Him, obey the call of her, the Holy Virgin! But whence this fear within my heart? Why fails my soul, and wherefore doth she tremble?
Aria: Farewell, ye mountains, ye beloved meadows! Ye
smiling valleys, fare ye well for aye! No longer now among ye may I wander, to all today I bid a long farewell.
INTERMISSIONV
Scherzo ...............................................................................................Rogers
Thou Art The Rock........................................................................Mulet
(Tu Es Petra) from Esquisses Byzantines
VI
Sea Moods.............................................................................................Tyson
Song of the Palanquin Bearers........................................................Shaw
Since You Went Away........................................J. Rosamond Johnson
I’m Workin’ On My Buildin’...................................Florence B. Price
Ride On, Jesus............................................................R. Nathaniel Dett
ELEANOR PASCHAL, is the accompanist for Miss Jordan . .
COMING EVENTS . . . The annual presentation of HANDEL’S MESSIAH, Sunday, December 6, at 5 p.m. at St. James Methodist Church, 46th at Ellis Avenue; Calvin B. Williams, director; Florence Stith, chairman; Curtiss T. Jackson, co-chairman . . . The Chicago Music Association welcomes you at all of its programs
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