Search results for "horizon"
showing 10 items of 600 documents
Interest rate changes and stock returns: A European multi-country study with wavelets
2016
Abstract This paper investigates the linkage between changes in 10-year government bond yields and stock returns for the major European countries in the time-frequency domain by using a number of cross-wavelet tools in the framework of the continuous wavelet transform, mainly the wavelet coherence and phase-difference. The results reveal that the degree of connection between 10-year bond rate movements and stock returns differs considerably among countries and also varies over time and depending on the time horizon considered. In particular, the UK shows the greatest interdependence between long-term interest rates and equity returns across time and frequencies, while the relationship is mu…
More firms, more competition? The case of the fourth operator in France's mobile phone market
2010
Accepted, Forthcoming; International audience; To foster competition the French government authorized a fourth operator, ‘Free', to enter the country's mobile phone market at the end of 2009 alongside Orange, SFR and Bouygues Telecom (BT), who held respectively one-half, one-third and one-sixth of the market. By using a stylized model of France's phone market, we have examined what we call the regulator's nightmares and dreams. If Cournot competition is in place before Free's entry, minimizing the total profit fails to maximize the consumer surplus and the total surplus; the maximum most realistic price fall is 6.7% compared to three-way competition and could be 1.7% only; if Orange, SFR an…
Japan's FDI drivers in a time of financial uncertainty. New evidence based on Bayesian Model Averaging
2021
En este artículo analizamos los determinantes del stock de FDI saliente de Japón para el período 1996–2017. Este período es especialmente relevante ya que abarca un proceso de creciente globalización económica y dos crisis financieras. Para ello, consideramos un amplio conjunto de variables candidatas basadas en la teoría, así como en análisis empíricos previos. Nuestra muestra incluye un total de 27 países anfitriones. Seleccionamos las covariables utilizando una metodología basada en datos, el análisis Bayesian Model Averaging (BMA). Además, también analizamos si estos determinantes cambian según el grado de desarrollo (emergentes vs desarrollados) o las áreas geográficas (UE vs Asia Orie…
Compensation verticale et compensation horizontale pour les familles avec enfants : une comparaison des approches française et québécoise
1986
International audience; L'analyse des politiques familiales demande que l'on ait au préalable défini les objectifs potentiels de ces politiques. Ceux-ci sont discutés en termes de compensation verticale, de compensation horizontale positive et compensation horizontale normative. Dans le cadre d'une politique familiale et de son influence sur la natalité, l'efficacité des techniques mises en œuvre ne peut être appréciée qu'un retard de l'importance relative accordée aux conceptions sociales de la compensation des charges familiales. L'étude identifie les différences systématiques entre la France et le Québec relativement à la politique familiale ; ce qui conduit à caractériser avec précision…
Semiclassical geons as solitonic black hole remnants
2013
We find that the end state of black hole evaporation could be represented by non-singular and without event horizon stable solitonic remnants with masses of the order the Planck scale and up to similar to 16 units of charge. Though these objects are locally indistinguishable from spherically symmetric, massive electric (or magnetic) charges, they turn out to be sourceless geons containing a wormhole generated by the electromagnetic field. Our results are obtained by interpreting semiclassical corrections to Einstein's theory in the first-order (Palatini) formalism, which yields second-order equations and avoids the instabilities of the usual (metric) formulation of quadratic gravity. We als…
Algorithms for skiascopy measurement automatization
2014
Automatic dynamic infrared retinoscope was developed, which allows to run procedure at a much higher rate. Our system uses a USB image sensor with up to 180 Hz refresh rate equipped with a long focus objective and 850 nm infrared light emitting diode as light source. Two servo motors driven by microprocessor control the rotation of semitransparent mirror and motion of retinoscope chassis. Image of eye pupil reflex is captured via software and analyzed along the horizontal plane. Algorithm for automatic accommodative state analysis is developed based on the intensity changes of the fundus reflex.
Exploring the Potential and the Boundaries of the Rolling Horizon Technique for the Management of Reservoir Systems with over-Year Behaviour
2016
The paper presents a set of experiments on the Rolling Horizon Technique (RHT), applied to the management of a multi-reservoir, multipurpose water resources system with over-year behaviour. In the RHT, decisions on releases from reservoirs are taken for a number of time steps ahead (the Forecasting Horizon – FH) through an optimization model, based on the present water availability in reservoirs and on some forecasts of future inflows over the FH. Only the decision concerning the first time step (the current month) is then implemented, as new information on reservoir levels and forecasts becomes available so that the process can start again with updated information. The paper investigates h…
Comparative genomic and phylogenetic analyses of gammaproteobacterial glg genes traced the origin of the Escherichia coli glycogen glgBXCAP operon to…
2015
© 2015 Almagro et al. Production of branched α-glucan, glycogen-like polymers is widely spread in the Bacteria domain. The glycogen pathway of synthesis and degradation has been fairly well characterized in the model enterobacterial species Escherichia coli (order Enterobacteriales, class Gammaproteobacteria), in which the cognate genes (branching enzyme glgB, debranching enzyme glgX, ADP-glucose pyrophosphorylase glgC, glycogen synthase glgA, and glycogen phosphorylase glgP) are clustered in a glgBXCAP operon arrangement. However, the evolutionary origin of this particular arrangement and of its constituent genes is unknown. Here, by using 265 complete gammaproteobacterial genomes we have …
Impact of historical mining assessed in soils by kinetic extraction and lead isotopic ratios.
2014
12 pages; International audience; The aim of this study is to estimate the long-term behaviour of trace metals, in two soils differently impacted by past mining. Topsoils from two 1 km(2) zones in the forested Morvan massif (France) were sampled to assess the spatial distribution of Cd, Cu, Pb and Zn. The first zone had been contaminated by historical mining. As expected, it exhibits higher trace-metal levels and greater spatial heterogeneity than the second non-contaminated zone, supposed to represent the local background. One soil profile from each zone was investigated in detail to estimate metal behaviour, and hence, bioavailability. Kinetic extractions were performed using EDTA on thre…
Are agricultural soils under a continental temperate climate susceptible to episodic reducing conditions and increased leaching of phosphorus?
2012
International audience; Soil science research has probably underestimated the significance that short-term, episodic cycles of reduction and oxidation has had on phosphorus (P) reactivity. Here, the effects of eleven pulsed reduction-oxidation (including wet-dry) cycles on soil P dynamics are compared for 12 soils having contrasting properties and all overfertilised with respect to P. The laboratory based incubation conditions attempted to simulate transient waterlogging of the soil profile and involved repeated sampling and analysis of both the solution and solid phase P forms. An initial increase in P concentration in solution that occurred up to and including the fourth full cycle was fo…