Oil price shocks and stock market returns: New evidence from the United States and China

This study examines the time-varying correlations between oil prices shocks of different types (supply-side, aggregate demand and oil-market specific demand as per Kilian (2009) who highlighted that "Not all oil shocks are alike") and stock market returns, using a Scalar-BEKK model. For this study we consider the aggregate stock market indices from two countries, China and the US, reflecting the most important developing and developed financial markets in the world. In addition to the whole market, we also consider correlations from key selected industrial sectors, namely Metals & Mining, Oil & Gas, Retail, Technology and Banking. The sample period runs from 1995 until 2013. We highlight several key points: (i) correlations between oil price shocks and stock returns are clearly and systematically time-varying; (ii) oil shocks of different types show substantial variation in their impact upon stock market returns; (iii) these effects differ widely across industrial sectors; and finally (iv) China is seemingly more resilient to oil price shocks than the US

Waterfowl Harvest and Hunter Use at Carlyle Lake During the 1972 Season

Division of Wildlife Resources Migratory Bird Section, Periodic Report No. 1Report issued on: March 26, 197

Multicriteria decision making for enhanced perception-based multimedia communication

This paper proposes an approach that integrates technical concerns with user perceptual considerations for intelligent decision making in the construction of tailor-made multimedia communication protocols. Thus, the proposed approach, based on multicriteria decision making (MDM), incorporates not only classical networking considerations, but, indeed, user preferences as well. Furthermore, in keeping with the task-dependent nature consistently identified in multimedia scenarios, the suggested communication protocols also take into account the type of multimedia application that they are transporting. Lastly, this approach also opens the possibility for such protocols to dynamically adapt based on a changing operating environment and user's preferences

Intelligent synthesis mechanism for deriving streaming priorities of multimedia content

We address the problem of integrating user preferences with network quality of service parameters for the streaming of media content, and suggest protocol stack configurations that satisfy user and technical requirements to the best available degree. Our approach is able to handle inconsistencies between user and networking considerations, formulating the problem of construction of tailor-made protocols as a prioritization problem, solvable using fuzzy programming

Waterfowl Harvest and Hunter Use at Carlyle Lake During the 1973 Season

Division of Wildlife Resources Migratory Bird Section, Periodic Report No. 7Report issued on: April 15, 197

Transfer learning approach for financial applications

Artificial neural networks learn how to solve new problems through a computationally intense and time consuming process. One way to reduce the amount of time required is to inject preexisting knowledge into the network. To make use of past knowledge, we can take advantage of techniques that transfer the knowledge learned from one task, and reuse it on another (sometimes unrelated) task. In this paper we propose a novel selective breeding technique that extends the transfer learning with behavioural genetics approach proposed by Kohli, Magoulas and Thomas (2013), and evaluate its performance on financial data. Numerical evidence demonstrates the credibility of the new approach. We provide insights on the operation of transfer learning and highlight the benefits of using behavioural principles and selective breeding when tackling a set of diverse financial applications problems

Characteristics of Waterfowl Harvest at Horseshoe Lake, Madison County, Illinois

Division of Wildlife Resources Migratory Bird Section, Periodic Report No. 13Report issued on: April 21, 197