Financial Forecast for the Relative Strength Index

In this paper we provide a closed-form expression for one of the most popular index in Technical Analysis: the Relative Strength Index (RSI). Given that we show how the standard binomial model for the stock price can be used to predict RSI. The algorithm is as simple as to code a standard European option. In an empirical application to the Chilean exchange rate we show how the method works having a better out of sample performance than an ARMA(1,1) model.Relative Strength Index, Binomial Model, Financial Forecast

Interpretation, 1980 And 1880

This article reviews recent methodological interventions in the field of literary study, many of which take nineteenth-century critics, readers, or writers as models for their less interpretive reading practices. In seeking out nineteenth-century models for twenty-first-century critical practice, these critics imagine a world in which English literature never became a discipline. Some see these new methods as formalist, yet we argue that they actually emerge from historicist self-critique. Specifically, these contemporary critics view the historicist projects of the 1980s as overly influenced by disciplinary models of textual interpretation models that first arose, we show through our reading of the Jolly Bargemen scene in Charles Dickens\u27s Great Expectations (1860 61), in the second half of the nineteenth century. In closing, we look more closely at the work of a few recent critics who sound out the metonymic, adjacent, and referential relations between readers, texts, and historical worlds in order sustain historicism\u27s power to restore eroded meanings rather than reveal latent ones

Anonyma\u27s Authors

This article examines the publication history of a popular group of loosely related, variously authored anonymous Victorian novels about women of the London demimonde (such as Anonyma, or, Fair but Frail, 1864), showing how successive republications worked to create an increasingly coherent set of texts with a single, yet unstable, author function. I argue specifically that these novels\u27 hybrid representations of authorship - which changed dramatically between the 1864, 1869, and 1884 publications of the increasingly standardized series - engage with the novels\u27 representational practices, and that an analysis of this engagement has broader implications for our understanding of Victorian ideas about authorship

Stress Tests for Banking Sector: A Technical Note

Credit and market risks are crucial for financial institutions. In this paper we present the model used by the Central Bank of Chile to conduct the stress tests for commercial banks in Chile. Market risk uses a balance-sheet approach that is consistent with the credit risk. For exchange rate risk we consider a change in the value of the portfolio under an unexpected change in the exchange rate by X%, meanwhile the interest rate risk is computed using a model for the whole yield curve. In particular, the modeling of this risk follows Nelson and Siegel (1987). Credit risk is computed using a non-linear VAR that relates banking system aggregates (loan loss provisions, credit growth, and write-offs) with macroeconomics variables (output growth, short and long term interest rates, terms of trade, and unemployment). For each Financial Stability Report (FSR) the model is calibrated using data from 1997 to the most recent date at monthly frequency. The effect on individual banks is computed adjusting the loan loss provision and total loans of each bank with the forecast value for the system. Given that forecasts are separated by type of loans (commercial, mortgage, and consumer) then the final effect on a particular bank depend on its initial composition.

Faculty Seminar On Collaboration Syllabus

This is a collectively-built, in-progress syllabus for a faculty seminar on the topic of collaboration at Swarthmore College, Spring 2016. Topics include competing definitions of collaboration across disciplines, formal and informal collaboration, rich descriptions of collaboration, metrics and measures of collaborations, digital and analog tools for collaboration, literary and historical forms of collaboration, cost/benefit analyses of collaboration, crossinstitutional collaborations, institutional versus individual collaborations, collaboration narratives, failed or tragic collaborations, and teaching collaborations. Seminar members include statisticians, historians, psychologists, visual artists, literary critics, physicists, philosophers, engineers, education studies researchers, linguists, art historians, and computer scientists. Our format will accommodate both discussions of readings based on the syllabus as well as small experiments, and planning for possible future related projects

Presentation of the acoustic and aerodynamic results of the Aladin 2 concept qualification testing

Wind tunnel tests were conducted of a scale model of the Aladin 2 aircraft. The propulsion system configuration is described and the air flow caused by jet ejection is analyzed. Three dimensional flow studies in the vicinity of the engine installation were made. Diagrams of the leading and trailing edge flaps are provided. Graphs are developed to show the aerodynamic performance under conditions of various airspeed and flap deflection

Politics of pension sharing in urban South Africa

Analysing the practice of pension sharing, this article looks at social and cultural dimensions of ageing in an urban African residential area, Cape Town's Khayelitsha. First, the paper discusses pension sharing as a futureoriented security strategy. Many older Africans in Khayelitsha believe that if they do not share their pensions with their kin, they do not have much chance of being helped in times of need. Pension sharing as an instrumental act is rooted in the perceived underdevelopment of the state social security system on the one hand, and in the very character of African kinship and the ¯uidity of today's urban domestic units on the other. Partly triggered by poverty and mass unemployment, African pensioners are under severe normative pressure to share their grants within their families. Taking into account African notions of old age and of personhood, and considering the widespread devaluation of older Africans in social constructions, pension sharing provides older Africans with an (easily available) means by which they can earn (self-)respect. Further, state policies indirectly enhance the normative pressure on pensioners to share their old-age pensions. On a symbolic plane the practice may be construed as a political model that conceptualises duty as the inner bond of the social world. In conclusion, it is propounded that the concept of (intergenerational) reciprocity is inadequate to account for pension sharing or practical provision of old-age care

Liquidity Crises and Corporate Cash Holdings in Chile

This paper addresses the way optimal cash holdings decisions may be affected in episodes of adverse liquidity shocks. Motivated by the recent financial crisis, we are particularly interested in understanding how firm characteristics can explain differences in the adjustment speed to desired cash holdings, and how these characteristics determine whether a firm is more or less affected during a liquidity crisis. To address those issues, we use a large panel dataset with quarterly information of Chilean firms during the period 1996 through 2009. In line with some previous empirical evidence, our findings show that leverage, banking debt, liquid assets, size and volatility affect cash holdings. We also find that liquidity crises have had an overall negative and economically significant effect on the firms’ cash holdings and this effect varies across firm size. In addition, our results reveal other important component of heterogeneity across firms: we find that medium-sized firms are less capable of adjusting cash holdings than do small and large firms.

Antitrust as Frontier Justice: Is It Time to Retire the Sheriff?

Dr. Sagner's article on antitrust laws.The final published copy can be bought from the publisher at http://onlinelibrary.wiley.com/doi/10.1111/j.1467-8594.2006.00260.x/abstracthttps://doi.org/10.1111/j.1467-8594.2006.00260.