The Applications of Mixtures of Normal Distributions in Empirical Finance: A Selected Survey

This paper provides a selected review of the recent developments and applications of mixtures of normal (MN) distribution models in empirical finance. Once attractive property of the MN model is that it is flexible enough to accommodate various shapes of continuous distributions, and able to capture leptokurtic, skewed and multimodal characteristics of financial time series data. In addition, the MN-based analysis fits well with the related regime-switching literature. The survey is conducted under two broad themes: (1) minimum-distance estimation methods, and (2) financial modeling and its applications.Mixtures of Normal, Maximum Likelihood, Moment Generating Function, Characteristic Function, Switching Regression Model, (G) ARCH Model, Stochastic Volatility Model, Autoregressive Conditional Duration Model, Stochastic Duration Model, Value at Risk.

Intuition as management understanding: review and discussion paper

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Financing early intervention: interim paper: Graham Allen Review

"This short document sets out the areas of focus for Part 2 of the review, which will report in May/June 2011. Over the next few months we will be exploring options to improve the financing of Early Intervention programmes. This will include a particular focus on attracting additional private sector investment into those programmes which best deliver outcomes, whilst at the same time recognising the barriers that need to be addressed within the public sector." - Page 1

How to Review a Paper

How to Review a Paper: A guide for newcomers and a refresher for the experienced

Irrigation management research in Sri Lanka: A review of selected literature. Occasional paper. Occasional paper

Irrigation management / Research / Irrigation systems / Rehabilitation / Financing / Resource management / Policy / Farmer participation / Farmer-agency interactions / Sri Lanka

Financial transaction tax: review and assessment

We explore whether a Financial Transactions Tax (FTT) is likely to correct the market failures that have contributed to the financial crisis, to what extent FTT succeeds in raising revenues, and how the FTT compares to alternative taxes in terms of efficiency. We�find little evidence that the FTT will be effective in correcting�market failures. Taxing of transactions is not well targeted at�behaviour that leads to excessive risk and systemic risk creation. The empirical evidence does not suggest that the introduction of an FTT�reduces volatility or asset price bubbles. An FTT will likely raise�significant revenues and we estimate those revenues for the�Netherlands. In the short term, the incidence of the tax will be�chiefly on the current holders of securities. Ultimately, the tax will�be borne in part by end users, and we estimate the likely effects on�economic growth. When compared to alternative forms of taxation of the�financial sector, the FTT is likely less e� fficient given the amount�of revenues. In particular, taxes that more directly address existing�distortions, such as the current VAT exemption for banks, and the bias�towards debt financing, provide more efficient alternatives. �

Transgenic animals - review paper

Developments in the biological sciences in the last years have changed mankind's ability to manipulate the genetics, cell biology and physiology of biological organisms. These techniques, collectively termed biotechnology, create the opportunity for modifying domestic animals in ways that markedly increase the efficiency of production. Among the procedures being developed for animal production systems are marker-assisted selection of specific alleles of a gene that are associated with high production, production of transgenic animals, production of large amounts of previously-rare proteins through use of genetically-engineered bacteria or other cells and identification of new biologically-active molecules as potential regulators of animals function.peer-reviewe