Turbulent convective phenomena in straight rectangular-sectioned diffuers

Imperial Users onl

The optimal use of return predictability : an empirical study

In this paper we study the economic value and statistical significance of asset return predictability, based on a wide range of commonly used predictive variables. We assess the performance of dynamic, unconditionally efficient strategies, first studied by Hansen and Richard (1987) and Ferson and Siegel (2001), using a test that has both an intuitive economic interpretation and known statistical properties. We find that using the lagged term spread, credit spread, and inflation significantly improves the risk-return trade-off. Our strategies consistently outperform efficient buy-and-hold strategies, both in and out of sample, and they also incur lower transactions costs than traditional conditionally efficient strategies

Sensitivity and Error Analyses in Ground Water Flow Modelling

9 pages

Sensitivity and Error Analyses in Ground Water Flow Modelling

9 pages