5,574 research outputs found
Volatility Forecast in FX Markets using Evolutionary Computing and Heuristic Techniques
No full textAfinancialasset’svolatilityexhibitskeycharacteristics, such as mean-reversion and high autocorrelation [1], [2]. Empirical evidence suggests that this volatility autocorrelation exponentially decays (or exhibits long-range memory) [3]. We employ Genetic Programming (GP) for volatility forecasting because of its ability to detect patterns such as the conditional mean and conditional variance of a time-series. Genetic Programming is typically applied to optimisation, searching, and machine learning applications like classification, prediction etc. From our experiments, we see that Genetic Programming is a good competitor to the standard forecasting techniques like GARCH(1,1), Moving Average (MA), Exponentially Weighted Moving Average (EWMA). However it is not a silver bullet: we observe that different forecasting methods would perform better in different market conditions. In addition to Genetic Programming, we consider a heuristic technique that employs a series of standard forecasting methods and dynamically opts for the most appropriate technique at a given time. Using a heuristic technique, we try to identify the best forecasting method that would perform better than the rest of the methods in the near out-of-sample horizon. Our work introduces a preliminary framework for forecasting 5-day annualised volatility in GBP/USD, USD/JPY, and EUR/USD
State, governance and financing India's development
No full textThis edited volume provides a compilation of debates which deliberate how a development model should be designed and how it can produce socially just, sustainable and dynamic growth. The contributors focus on the best socioeconomic development path in Asia and beyond. The book has a topical
significance in the current socioeconomic scenario. The huge infrastructure inadequacies and social development concerns arising in the context of ill-designed public investments compensated by private investments is a major challenge that India would face in achieving higher rates of economic growth and
human development. Public debate is increasingly recognizing the need for substantial rethinking about the role of the state in the provision of services. There has been an increased demand for more fundamental reforms, greater involvement of private sectors and reduction in the role of state. The chapters in this volume examine the nature of development experience in some key select sectors in the backdrop of planned intervention by the government. The empirical verification of the impact of the state intervention discussed by different contributors provides an overall view of the effectiveness with which public policies have been translated into real development
Corporate Social Responsibility in India: Philosophy, Policy and Practice
No full textThe world is changing, and by dimensions and at a pace never seen in the past.
Consumers are evaluating products and services not only in terms of functionality
and technology but also whether the producer is paying adequate attention to the
environment and the community. Social media allows for quick person to person
dissemination of data and experience, and for a positive or negative buildup, which
far exceeds the power of mass media based inferences
Being a Critical Social Scientist: An Interview with David Fasenfest
No full textAn interview with David Fasenfest, editor of Critical Sociology and author of Marx Matters by Raju Das and Robert Latham from 2023
Informetrics on M. N. Srinivas
No full textM. N. Srinivas, the well known sociologist is widely recognised as architect of modern Indian sociology and social anthropology. His publications have been analysed by year, domain, authorship pattern, channels of communication used. Keywords, etc. The results indicate that the papers published by him are of a nature that qualify him to be a 'role model' for the younger generations to emulate.
By the end of 1995, Srinivas had to his credit 144 papers which, included 33 broad papers in sociology and anthropology; 18 papers in social change; 28 papers in village studies; 12 papers on religion; 17 papers on caste and 36 papers of general popular interest. The periods 1958-61 and 1974-77, when Srinivas was 38-41 and 58-61 years old. were his most productive periods with highest publication activity
On the Laplace Transforms of the First Hitting Times for Drawdowns and Drawups of Diffusion-Type Processes
No full textWe obtain closed-form expressions for the value of the joint Laplace transform of therunning maximum and minimum of a diffusion-type process stopped at the first time at which theassociated drawdown or drawup process hits a constant level before an independent exponentialrandom time. It is assumed that the coefficients of the diffusion-type process are regular functionsof the current values of its running maximum and minimum. The proof is based on the solution tothe equivalent inhomogeneous ordinary differential boundary-value problem and the applicationof the normal-reflection conditions for the value function at the edges of the state space of theresulting three-dimensional Markov process. The result is related to the computation of probabilitycharacteristics of the take-profit and stop-loss values of a market trader during a given time period.</jats:p
Balancing in Unicompartmental Knee Arthroplasty: Balancing in Flexion or in Extension?
No full textUnicompartmental knee arthroplasty (UKA) is an established procedure for the
treatment of predominant single compartmental femorotibial osteoarthritis (OA) or osteonecrosis
Dharma and Polity Through the Character of Raju in R.K Naraayan’s “The Guide”
No full textDharma is a distinct quality that leads one to explore knowledge. In the novel ‘The Guide’, there are characters who reflect the concept of Dharma in a true sense of words. So, Dharma is a key concept. In the Western countries, the concept of Dharma is taken as a religion which appears to be a limited and incomplete as compared to the Indian concept of Dharma. Dharma indeed signifies patterns of behaviour considered to be accord of Rta that makes life in the universal possible. It includes duties, law, conduct, virtues and right way of life. R. K Narayana is a classical author in Indian fiction. Narayan is a true Indian both in spirits and thoughts. He has always been claimed as a novelist par excellence. Incidentally little has been written on how Narayan incorporates the profoundest Indian thoughts, philosophies and spiritualism in general and theory of Karma in particular in his novels. He is widely known for his lucid and natural writing style, often compared to William Faulkner. Most of his works show his deep interest in Hindu Religion and Myth. He does not modify or revise the myths through their symbolic representation. “To be a good writer anywhere, you must have roots - both in Religion and family. I have these things.”(Stephen Graubart) As a great writer, he translated and published shortened prose versions of the two great Indian epics, the Ramayana and the Mahabharata and a few Hindu mythical tales in Gods, Demons and others. His familiarity of Indian classical literature, philosophy, religion and ethics permeates his writing but a simple man that he was; he does not unnecessarily burden his readers with discourses on abstract philosophy and metaphysics. As an English writer, he depicted Dharma spirituality and ethics or the concept of religion in his novels. Through The Guide, we have come know how a fraudulent tourist guide, Raju playing the central role as a saint. Theoretically, morally, honorably, legally and ethically a tourist guide is not preferred to misguide the tourists. Raju changed his life from an ordinary guide to a sage and unfolds the concept of Dharma, finally realized his self and sacrificed his life for the sake of Dharma and Polity. The present paper deals with the role of dharma in ‘The Guide’ through Raju. The concept of dharma found in Indian philosophy is artistically incorporated in the ‘The Guide’. He himself mentioned that there is “a nucleus of absolute truth in all my novels.” He reveals this truth in different ways with the aim to regenerate the consciousness of malgudains. In one of his interview Narayan told that one should have root in the family and religion or Dharam. William wash praise Narayan for embodying this pure concept of dharma in his novels. The thoughtful concept of dharma with sincerity is deeply found in ‘The Guide’ R.K. Narayan has given a true common image of India through in ‘The Guide’ The central character, Raju, goes to the Mangala village on the Sarayu River and he stays in a temple on the sea shore. There he meets Velan. Raju narrates his past life as a successful tourist guide ‘Railway Raju’ and a rail road station food seller. Raju, the tourist guide is initially entrapped in the illusory world when the materialistic Charvaka philosophy guides and governs his life. Raju has been described as a spiritual martyr, one who finds himself in a insecure situation on account of the misunderstanding of a village idiot. Martyrdom is thus imposed upon him under certain unavoidable circumstances. But a close study of Raju’s actions, thoughts and behaviour significantly indicates a change in Raju. The sacrifice of Raju followed by the rains in Mangla village could very well be treated as a justification of Indian philosophy and its various paradigms. Once Raju, as a tourist, guide happened to meet Marco and Rosie. Marco concentrated more on other worldly affairs and gives less attention towards his gorgeous wife Rosie. Raju helped both Marco and Rosie to recognize her desire of becoming a dancer. Raju becomes very close to her. He was much impressed by Rosie. He ignored his friend Gaffur’s warning and even his mother’s advice. He turned a hard of hearing even to the voice of his own soul. The only truth in my existence was Rosie. All my psychological powers were now turned to keep her within my reach, and keep her cheery all the time, neither of which was at all easy. I would deliberately have kept at her side all the occasion, as a sort of scrounger. His over associate with a married lady becomes a serious burden to his tragedy. Raju helped Rosie in making her dreams come true. Rosie became a professional dancer. Raju forged her signature and mailed the document for which he was caught and sent to jail for two years. After coming out of the jail he has been accepted as a saint of Mangala. The villagers approached Raju to undertake a fast to please the rain God and this made him to confess his past life to Velan. Even after listening to the past life of Raju, Velan continued to acknowledge him as Swami; he took Raju’s confession as a mark of humility and godliness. He persuaded Raju for a fast and Raju finally agreed to fast ‘If by avoiding food I should help the trees bloom, and the grass grow, why not do it thoroughly?’ and that became his final decision. He slowly changed himself without his knowledge as a real sage. Sharan comments that: In the course of his ordeals, he changes himself thoroughly and accepts the challenges of reality. He plays his role of a holy man with a ring of sincerity and embraces death at the end of the novel. Thus, ‘Railway Raju’, the guide becomes a ‘spiritual guide’ and all his imperfection and impersonation turn into a real act of self-sacrifice. Raju has no other way but to undergo the fast though reluctantly he gained power to undertake the fast for real and through this power he sacrificed. After the twelve day Raju’s physical condition was very poor. He bows his head for prayer and said to Velan, ‘Velan it’s raining in the hills. I can feel it coming up under my feet, up legs –He sagged down. Thus the swami Raju’s was dedicated to the betterment for the poor people of the Mangala as a divine saint. It is true that R.K. Narayan has depicted that Indian belief and feelings can be articulated in foreign language without demanding to reproduce the native speakers of English. He gave his characters Indian thoughts and expressed it in his scenes and backgrounds. Indian culture and tradition is rich and it is not easy to summarize through few situations or characters. But Narayan made it exuberant and all his characters share Indianness. A close reading of the novel explores that Raju is not very bad person. Though he made affairs with Rosie, a married woman, his heart warns him of being in an Indian society and he is not at ease and peace. In his own words he establishes his fear: “My thoughts dwelt on her golden touch. A part of my mind went on saying. ‘No, no. It is not right. Marco is her husband, remember. It’s not to be thought of.’ Rosie, besides her modern –type relationship with Raju, regards Marco as her husband. Raju’s mother is portrayed as a woman born and bred up in an orthodox, conservative class of Indians
Special issue on algorithms in computational finance
No full textAlgorithms play an important part in finance [...
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