The Differential Form Method for Finding Symmetries

This article reviews the use of differential forms and Lie derivatives to find symmetries of differential equations, as originally presented by Harrison and Estabrook, J. Math. Phys., 12 (1971), 653. An outline of the method is given, followed by examples and references to recent papers using the method.Comment: Published in SIGMA (Symmetry, Integrability and Geometry: Methods and Applications) at http://www.emis.de/journals/SIGMA

Bayesian Analysis

After making some general remarks, I consider two examples that illustrate the use of Bayesian Probability Theory. The first is a simple one, the physicist's favorite "toy," that provides a forum for a discussion of the key conceptual issue of Bayesian analysis: the assignment of prior probabilities. The other example illustrates the use of Bayesian ideas in the real world of experimental physics.Comment: 14 pages, 5 figures, Workshop on Confidence Limits, CERN, 17-18 January, 200

Spillover effects from London and Frankfurt to Central and Eastern European stock markets

This paper investigates comovement in stock markets between the emerging economies of Central and Eastern Europe (CEE) and the developed markets of Western Europe. Three approaches are employed to examine this issue. The first two approaches, time-varying realised correlation ratios and cointegration statistics, use a two-step technique to derive timevarying estimates of the comovement between returns on CEE and EU stock exchanges. The first step uses common factor analysis to define the factors driving CEE stock exchanges, while the second step evaluates the relationship between the leading principal factor for CEE countries and the DAX and FTSE using time-varying realised correlation and rolling cointegration statistics. The third approach employs multivariate GARCH techniques to obtain estimates of mean and variance spillover effects

Stock market co-movement in the Caribbean

This paper investigates co-movement in five Caribbean stock markets (Barbados, Jamaica and Trinidad and Tobago, The Bahamas and Guyana) using common factor analysis. The common factors are obtained using principal component analysis and therefore account for the maximum portion of the variance present in the stock exchanges investigated. We break our analysis down and test for co-movement in different periods so as to ascertain any changes that have taken place from one period to the next. In particular we examine 10-year, 5-year and 3-year periods. We also specify a vector autoregression model and test for co-movement between the five markets during the sample period through impulse response functions. Both of our tests fail to find any evidence of co-movement between the exchanges over the entire sample period. However, we find evidence of periodic co-movement, particularly between exchanges in Barbados, Jamaica and Trinidad and Tobago

Do fat tails matter in GARCH estimation? Testing market efficiency in two transition economies

The use of the GARCH-class of models is commonplace when examining stockmarket returns. In this paper we use data on stock markets in two transitioneconomies, the Czech Republic and Romania, to demonstrate the importance ofusing the correct GARCH specification. When residuals are characterised by ‘fattails’ or kurtosis, the use of a GARCH-t specification is appropriate. Diagnostictests suggest that the GARCH-t specification is appropriate for modelling stockmarket returns in Romania, whilst the standard GARCH specification is adequatefor the Czech Republic. Using a standard GARCH specification leads torejection of the null hypothesis of market efficiency in Romania, whereas thisnull hypothesis cannot be rejected using the GARCH-t specification. The nullhypothesis of efficiency cannot be rejected in the Czech Republic using eitherspecification. Thus, we find that the presence of ‘fat tails’ can have importantimplications for inference in the analysis of stock market returns

Optimising multi-disciplinary contributions for the smart clothing development process

This research aims to introduce a strategic approach to overcome the creative boundaries and optimize multidisciplinary contributions in Smart Clothing development, since the former research results revealed that these issues are key to achieving fully integrated Smart Clothes. Therefore, this paper examines collaborative projects that are shown to break through the creative boundary and integrate multidisciplinary contributions, and identifies how individual designers overcome their creative constraints and collaborate with others, in order to identify a practical method. The research result indicates that a clear description of Smart Clothing’s context will provide a new framework for the developers to work on

A program to compute three-dimensional subsonic unsteady aerodynamic characteristics using the doublet lattic method, L216 (DUBFLX). Volume 1: Engineering and usage

The program input presented consists of configuration geometry, aerodynamic parameters, and modal data; output includes element geometry, pressure difference distributions, integrated aerodynamic coefficients, stability derivatives, generalized aerodynamic forces, and aerodynamic influence coefficient matrices. Optionally, modal data may be input on magnetic file (tape or disk), and certain geometric and aerodynamic output may be saved for subsequent use