Search results for "future"
showing 10 items of 416 documents
Il video rende felici
2022
Video art in Italy. The exhibition "Video makes you happy" offers a reasoned story.
Short-Term Electricity Futures Prices: Evidence on the Time-Varying Risk Premium
2008
This paper examines empirically the relationship between electricity spot and futures prices, by analysing a decade of data for a set of short term-to-maturity futures contracts traded in the Nordic Power Exchange, Nord Pool. It is found that, on average, there are significant positive risk premiums in short-term electricity futures prices. The significance and size of the premiums, however, varies seasonally over the year; whereas it is greatest during winter, it is zero in summer. It is also found that time-varying risk premiums are significantly related to unexpectedly low reservoir levels. Furthermore, before the unprecedented supply-shock that hit the Nord Pool market around the end of…
People Who Run the European Parliament: Staff Demography and Its Implications
2014
AbstractWith few exceptions, parliament administrations, including secretariat officials and party group staff, have been relatively unexplored. However, a small, but growing, literature on the administration of the European Parliament (EP) indicates that officials play a role in the policy process that goes beyond technical and procedural questions. On this background, this article therefore aims at, first, finding out who the people working in the EP secretariat and group secretariats are, and, second, investigating whether it matters who these people are. Based on an online survey, we unveil the bureaucrats’ nationality, gender, educational background and former and future career (plans)…
How Brexit affects EU external action: The UK’s legacy in European international cooperation
2018
Abstract What exactly Brexit means for British engagement in European external affairs and development cooperation, is highly unclear, while its potential impact is considerable. After the general election in the UK on 8 June 2017, uncertainty regarding the direction, process and timing of the Brexit negotiations and the risk of a disorderly separation have risen further. The government position of a ‘hard Brexit’ seems no longer to be carved in stone. Yet, given the expected – total or partial – withdrawal of a major EU member state, like any area of EU politics, also European development policy faces a number of challenges: short-term problems regarding existing legal obligations, looming…
Images of the future for a circular economy : The case of Finland
2022
A transition from a linear to a circular economy (CE) is one of the key solutions to the sustainability crisis. A CE requires new mental models and insights, especially of a desirable future towards which to move. A CE aims at making better use of resources and jointly considers economic, environmental and social sustainability aspects in the long run. The objective of this study is to develop alternative images of the future for CE in Finland in 2050. The study was performed using qualitative research methods and covers extensive data from 61 interviews with experts. We analysed the data using qualitative content analysis. Four alternative images of the future were generated: A circular su…
Miasta przyszłości: między oczekiwaniami a rzeczywistością
2017
Koncepcja nowoczesnego i zrównoważonego rozwoju miast – smart city, oferując rozwiązania z wykorzystaniem najnowocześniejszych technik ICT, pozwala kreować niemal utopijne w swych założeniach miasta. W praktyce jednak, choć zaawansowane technologicznie, zdają się mijać z oczekiwaniami najważniejszych aktorów miast – ich mieszkańcami, a w skrajnych przypadkach nawet ich brakiem. Niniejszy artykuł ma być próbą wskazania aspektów, w których teoria budowy nowoczesnych miast w zderzeniu z praktyką zawodzi.
Spatial representations of the future in Homeric Greek
The aim of this paper is to investigate the space-time mapping of the future in Homeric Greek. It is widely accepted that the spatial adverbs πρόσσω ‘in front’ and ὀπίσσω ‘behind’ in the Homeric poems are used to portray temporal events located in a sequence of aligned entities that follow one after the other on the same path (Dunkel 1983: 66). In such a temporal sequence, or Time-RP model, those adverbs are associated respectively to past and future events in a dichotomous spatial representation of time, without involving a deictic ego-experiencer. After analyzing data from the Homeric poems in a cognitive linguistic perspective, it is found that some temporal uses of the preposition πρό ‘…
On the Pricing and Hedging of Options on Commodity Forward and Futures Contracts - A Note
2007
In recent years there appeared some organized markets for forward contracts and options on these contracts. In this paper we review shortly the organization of trade on a centralized forward market. Assuming a friction-free market with constant interest rate we build a consistent continuous time framework for the valuation and hedging of options on a forward or a futures contract. This framework takes into account the peculiarities of a forward/futures contract. In our framework we consider the pricing and hedging of options on a forward contract and reconsider the Black-76 model for the pricing and hedging of options on a futures contract.
Weather Derivatives and Stochastic Modelling of Temperature
2011
We propose a continuous-time autoregressive model for the temperature dynamics with volatility being the product of a seasonal function and a stochastic process. We use the Barndorff-Nielsen and Shephard model for the stochastic volatility. The proposed temperature dynamics is flexible enough to model temperature data accurately, and at the same time being analytically tractable. Futures prices for commonly traded contracts at the Chicago Mercantile Exchange on indices like cooling- and heating-degree days and cumulative average temperatures are computed, as well as option prices on them.
Open and Closed Positions and Stock Index Futures Volatility
2011
In this paper we analyze the relationship between volatility in index futures markets and the number of open and closed positions. We observe that, although in general both positions are positively correlated with contemporaneous volatility, in the case of S&P 500, only the number of open positions has influence over the volatility. Additionally, we observe a stronger positive relationship on days characterized by extreme movements of these contracting movements dominating the market. Finally, our findings suggest that day-traders are not associated to an increment of volatility, whereas uninformed traders, both opening and closing their positions, have to do with it.