2,177 research outputs found
The Impact of European Elections on their Stock Markets
This paper seeks to provide insight on changes in the European political landscape and how these changes may affect the financial markets in Europe. By analyzing market trends in eight different European countries—Belgium, Austria, France, Germany, Netherlands, Great Britain, Switzerland and Greece—since 1990, this paper attempts to identify any significant relationships between the results of an election and the performances of the major stock indices of these countries. By comparing country index returns starting one hundred days before and ending one hundred days after each election date to a global index, this paper explores the amount of risk in each country’s stock index at times of a political change. It examines the difference in the volatility of stock markets before and after an election occurs both in the short term of five days around the event and over a longer term of one hundred days. It also investigates the impact of the implementation of the Euro on the country indices during a time of an election. The final aspect considered is the effect when there is a switch in political ideology from the controlling party before the election to the incumbent party post-election. By examining these effects around election dates through a regression model, insight is provided into the performances of markets and what investors can expect around upcoming elections
Transforming opacity verification to nonblocking verification in modular systems
We consider the verification of current-state and K-step opacity for systems
modeled as interacting non-deterministic finite-state automata. We describe a
new methodology for compositional opacity verification that employs
abstraction, in the form of a notion called opaque observation equivalence, and
that leverages existing compositional nonblocking verification algorithms. The
compositional approach is based on a transformation of the system, where the
transformed system is nonblocking if and only if the original one is
current-state opaque. Furthermore, we prove that -step opacity can also be
inferred if the transformed system is nonblocking. We provide experimental
results where current-state opacity is verified efficiently for a large
scaled-up system
The Gambier Mapping, Revisited
We examine critically the Gambier equation and show that it is the generic
linearisable equation containing, as reductions, all the second-order equations
which are integrable through linearisation. We then introduce the general
discrete form of this equation, the Gambier mapping, and present conditions for
its integrability. Finally, we obtain the reductions of the Gambier mapping,
identify their integrable forms and compute their continuous limits.Comment: 11 pages, no figures, to be published in Physica
Stability analysis for combustion fronts traveling in hydraulically resistant porous media
We study front solutions of a system that models combustion in highly
hydraulically resistant porous media. The spectral stability of the fronts is
tackled by a combination of energy estimates and numerical Evans function
computations. Our results suggest that there is a parameter regime for which
there are no unstable eigenvalues. We use recent works about partially
parabolic systems to prove that in the absence of unstable eigenvalues the
fronts are convectively stable.Comment: 21 pages, 4 figure
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