112 research outputs found

    How does implied volatility differ from model based volatility forecasts?

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    The Role of Civic Leaders in Late Antique Hispania

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    Poco se sabe del gobierno de las ciudades hispanas entre los siglos IV y VII d. C. No se conocen por nombre ni duoviros ni ediles ni cuestores después del s. III, aunque sí se registran un curator y algunos defensores. No obstante, existe un cuerpo considerable de datos sobre las actividades de los curiales y principales hispanos. Tales actividades incluyen la recolección de impuestos, el mantenimiento de los archivos públicos, y el reclutamiento de nuevos miembros. Además, los curiales probablemente estuvieron implicados en la reparación o demolición de edi?cios públicos, y a veces intervinieron en disputas religiosas.Little is known about the government of Hispanic cities from the fourth to seventh centuries A.D. Not a single duovir, aedile or quaestor is known by name after the third century, though there is a curator and several defensores. Nonetheless, we have a considerable body of information on the activities of Hispanic curials and principales. These include tax collection, maintenance of public records, and recruiting new members. Moroever, curials were probably involved in the repair or demolition of public buildings, and they sometimes intervened in religious disputes

    Does implied volatility reflect a wider information set than econometric forecasts?

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    Much research has addressed the relative performance of option implied volatilities and econometric model based forecasts in terms of forecasting asset return volatility. The general theme to come from this body of work is that implied volatility is a superior forecast. Some authors attribute this to the fact that option markets use a wider information set when forming their forecasts of volatility. This article considers this issue and determines whether S&P 500 implied volatility reflects a set of economic information beyond its impact on the prevailing level of volatility. It is found, that while the implied volatility subsumes this information, as do model based forecasts, this is only due to its impact on the current or prevailing level of volatility. Therefore, it appears as though implied volatility does not reflect a wider information set than model based forecasts, implying that implied volatility forecasts simply reflect volatility persistence in much the same way of as do econometric models.Implied volatility, VIX, volatility forecasts, informational efficiency

    Beyond nudging: it’s time for a second generation of behaviourally-informed social policy

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    Insights from experimental research in the behavioural sciences offer a powerful impetus to reject punitive welfare reform. Katherine Curchin explains that findings from psychology, behavioural economics and behavioural finance concerning decision-making by people experiencing poverty point to the importance of alleviating material hardship by improving the social safety net; trying to remedy the character of individuals through benefit sanctions is therefore not a solution

    Interrogating the hybrid economy approach to Indigenous development

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    In the contemporary debate about remote Indigenous economic development, Jon Altman’s hybrid economy approach is the major alternative to the dominant neo‑liberal perspective. ltman’s approach emphasises the continuing customary economic activity of remote‑living Indigenous Australians and their legitimate aspirations to live and work on their ancestral lands. Based on a close reading of Altman’s writings, this paper analyses the hybrid economy model – which is grounded in Altman’s observations of outstation life in Arnhem Land – and the approach to economic development Altman derives from it. It makes explicit the numerous assumptions underpinning the hybrid economy approach to Indigenous development. Some of these assumptions are more controversial than others. It is argued that while Altman’s approach celebrates the unique skills and contributions of culturally‑connected Indigenous people, it is predicated on a pessimistic assessment of the likelihood of mainstream education and employment ‘closing the gap’.This research was carried out as part of the ARC Linkage Project LP100200203 The Practice of Accountability in Australian Indigenous Corporations

    Linguistic strata in Ancient Cantabria: the evidence of toponyms

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    Un análisis detallado de los topónimos de la Cantabria antigua impugna la idea de una substancial presencia preindoeuropea o vasca en esta región. Fuera de un número limitado de nombres romanos, testimonio de un nivel débil de romanización, la clasificación lingüística de los topónimos se divide casi igualmente entre el céltico y una lengua indoeuropea no céltica, de la cual ignoramos su identidad.A detailed analysis of place-names in ancient Cantabria disproves the idea of a substantial pre-Indo-European or Basque presence in the region. Apart from a relatively small number of Roman names, indicative of a weak degree of romanization, the linguistic affiliation of toponyms is almost equally divided between Celtic and a non-Celtic Indo-European language which remains unidentified

    Research with veterans suggests that a trauma-informed social security system would benefit all claimants who have experienced trauma

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    Lisa Scullion and Katherine Curchin draw upon interviews from the first substantive research to focus on veterans within the UK benefits system to suggest that there is much to be gained from the application of trauma-informed approaches to the social security system

    Jobs in Roman Spain

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    Cognomina matronímicos en la epigrafía de Hispania

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    This article examines children’s cognomina in the inscriptions of Roman Hispania that are derived from the name of the mother. Seven naming patterns are identified and documented with epigraphic examples. These include names that are formed from the mother’s cognomen, with or without a suffix, names formed from the mother’s nomen gentilicium, and cognomina that are cognate with the mother’s name.  En este artículo se examinan cognomina de niños en las inscripciones de la Hispania romana que derivan del nombre de su madre. Identificamos siete modelos de nomenclatura personal, documentados por ejemplos epigráficos. Se incluyen nombres formados del cognomen de la madre, con o sin sufijo, nombres formados del nomen gentilicium de la madre, y cognomina que son cognados del nombre maternal

    Examining veterans’ interactions with the UK social security system through a trauma-informed lens

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    This paper uses the principles of trauma-informed care – safety, collaboration, choice, trustworthiness, and respect – to reflect on the quality of veterans’ treatment within the UK social security system. Drawing upon new data from qualitative longitudinal research with veterans in four geographical locations across England, UK, it explores their experiences within the social security system, highlighting specific issues relating to their interactions with the Work Capability Assessment (WCA) but also the conditionality inherent within the UK benefits system. Overall, it is evident that there is a lack of understanding of the impact of trauma on people’s psychosocial functioning and, as a result, veterans are treated in ways which are variously perceived as disrespectful, unfair or disempowering and in some cases exacerbate existing mental health problems. We propose that the application of trauma-informed care principles to the UK social security system could improve interactions within this system and avoid re-traumatising those experiencing on-going or unresolved trauma. The paradigm of trauma-informed care has been used internationally to examine health, homelessness, prison and childcare services, but ours is the first exploration of its application to the delivery of social security
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