Market linkages, variance spillovers and correlation stability: empirical evidences of financial contagion

We propose a simultaneous equation system with GARCH errors to model the contemporaneous relations among Asian and American stock markets. On the estimated residuals, we evaluate the correlation matrix over rolling windows and introduce a correlation matrix distance, which allows both a graphical analysis and the development of a statistical test of correlation movements. Furthermore, we introduce a methodology that can be used for identifying turmoil periods on a data-driven basis. We employ the previous results in the analysis of the contagion issue between Asian and American stock markets. Our results shows some evidence of contagion and the proposed statistics identifies, on a data-driven basis, turmoil periods consistent with the ones currently assumed in the literature.Financial market contagion, Market linkages, Variance spillovers, Dynamic correlations, Rolling correlations, Transformed correlations

In-situ measurement methodology for the assessment of 5G NR massive MIMO base station exposure at sub-6 GHz frequencies

As the roll-out of the fifth generation (5G) of mobile telecommunications is well underway, standardized methods to assess the human exposure to radiofrequency electromagnetic fields from 5G base station radios are needed in addition to existing numerical models and preliminary measurement studies. Challenges following the introduction of 5G New Radio (NR) include the utilization of new spectrum bands and the widespread use of technological advances such as Massive MIMO (Multiple-Input Multiple-Output) and beamforming. We propose a comprehensive and ready-to-use exposure assessment methodology for use with common spectrum analyzer equipment to measure or calculate in-situ the time-averaged instantaneous exposure and the theoretical maximum exposure from 5G NR base stations. Besides providing the correct method and equipment settings to capture the instantaneous exposure, the procedure also comprises a number of steps that involve the identification of the Synchronization Signal Block, which is the only 5G NR component that is transmitted periodically and at constant power, the assessment of the power density carried by its resources, and the subsequent extrapolation to the theoretical maximum exposure level. The procedure was validated on site for a 5G NR base station operating at 3.5 GHz, but it should be generally applicable to any 5G NR signal, i.e., as is for any sub-6 GHz signal and after adjustment of the proposed measurement settings for signals in the millimeter-wave range

Color and Variability Characteristics of Point Sources in the Faint Sky Variability Survey

We present an analysis of the color and variability characteristics for point sources in the Faint Sky Variability Survey (FSVS). The FSVS cataloged ~23 square degrees in BVI filters from ~16--24 mag to investigate variability in faint sources at moderate to high Galactic latitudes. Point source completeness is found to be >83% for a selected representative sample (V=17.5--22.0 mag, B-V=0.0--1.5) containing both photometric B, V detections and 80% of the time-sampled V data available compared to a basic internal source completeness of 99%. Multi-epoch (10--30) observations in V spanning minutes to years modeled by light curve simulations reveal amplitude sensitivities to 0.015--0.075 mag over a representative V=18--22 mag range. Periodicity determinations appear viable to time-scales of an order 1 day or less using the most sampled fields (~30 epochs). The fraction of point sources is found to be generally variable at 5--8% over V=17.5--22.0 mag. For V brighter than 19 mag, the variable population is dominated by low amplitude (<0.05 mag) and blue (B-V<0.35) sources, possibly representing a population of gamma Doradus stars. Overall, the dominant population of variable sources are bluer than B-V=0.65 and have Main Sequence colors, likely reflecting larger populations of RR Lyrae, SX Phe, gamma Doradus, and W UMa variables.Comment: 34 pages, 16 figures, accepted in A

X-ray activity cycle on the active ultra-fast rotator AB Dor A? Implication of correlated coronal and photometric variability

Although chromospheric activity cycles have been studied in a larger number of late-type stars for quite some time, very little is known about coronal activity-cycles in other stars and their similarities or dissimilarities with the solar activity cycle. While it is usually assumed that cyclic activity is present only in stars of low to moderate activity, we investigate whether the ultra-fast rotator AB Dor, a K dwarf exhibiting signs of substantial magnetic activity in essentially all wavelength bands, exhibits a X-ray activity cycle in analogy to its photospheric activity cycle of about 17 years and possible correlations between these bands. We analysed the combined optical photometric data of AB Dor A, which span ~35 years. Additionally, we used ROSAT and XMM-Newton X-ray observations of AB Dor A to study the long-term evolution of magnetic activity in this active K dwarf over nearly three decades and searched for X-ray activity cycles and related photometric brightness changes. AB Dor A exhibits photometric brightness variations ranging between 6.75 < Vmag < 7.15 while the X-ray luminosities range between 29.8 < log LX [erg/s] < 30.2 in the 0.3-2.5 keV. As a very active star, AB Dor A shows frequent X-ray flaring, but, in the long XMM-Newton observations a kind of basal state is attained very often. This basal state probably varies with the photospheric activity-cycle of AB Dor A which has a period of ~17 years, but, the X-ray variability amounts at most to a factor of ~2, which is, much lower than the typical cycle amplitudes found on the Sun.Comment: 10 page

Chronic and Late Poverty as the Main Concerns in a Twofold Survey on Intertemporal Poverty Preferences

The increasing attention gained by the intertemporal aspect of poverty has led to the flourishing of measurement tools which are informed by conflicting views on deprivation dynamics. We test individual preferences for alternative intertemporal poverty patterns using primary data from a sample of 1,083 undergraduate students and a heterogeneous sample of 310 adults in the Dominican Republic. For both samples the strongest concerns are chronic (rather than intermittent) and poverty in the second rather than in the first part of one’s life. Preferences are significantly affected by a duration-based between-subject randomly assigned treatment. Individual characteristics such as age and standard of living are significant predictors of respondents’ views

A Formal Framework for Linguistic Annotation

`Linguistic annotation' covers any descriptive or analytic notations applied to raw language data. The basic data may be in the form of time functions -- audio, video and/or physiological recordings -- or it may be textual. The added notations may include transcriptions of all sorts (from phonetic features to discourse structures), part-of-speech and sense tagging, syntactic analysis, `named entity' identification, co-reference annotation, and so on. While there are several ongoing efforts to provide formats and tools for such annotations and to publish annotated linguistic databases, the lack of widely accepted standards is becoming a critical problem. Proposed standards, to the extent they exist, have focussed on file formats. This paper focuses instead on the logical structure of linguistic annotations. We survey a wide variety of existing annotation formats and demonstrate a common conceptual core, the annotation graph. This provides a formal framework for constructing, maintaining and searching linguistic annotations, while remaining consistent with many alternative data structures and file formats.Comment: 49 page