The definition of the decline of long term yields in the light of increasing short term yields as a conundrum by Chairman Greenspan in February 2005 has generated a significant amount of research. This paper presents a study of yield curve dynamics over this period using economic surprise data...

The definition of the decline of long term yields in the light of increasing short term yields as a conundrum by Chairman Greenspan in February 2005 has generated a significant amount of research. This paper presents a study of yield curve dynamics over this period using economic surprise data...

The definition of the decline of long term yields in the light of increasing short term yields as a conundrum by Chairman Greenspan in February 2005 has generated a significant amount of research. This paper presents a study of yield curve dynamics over this period using economic surprise data...

In this paper new results are documented regarding the short term evolution of global short term interest rates. Much work has been carried out concerning the evolution of interest rates over long time scales, on the order on one month or greater. However high frequency data has only been...

A simple characterisation of a naive investor, in terms of tolerance of Drawdown Risk, is presented which allows investors focusing on cumulative returns (rather than consumption) to easily and simply quantify their investment choices

In this paper we present an approach to quantify the maximum worth of active portfolio management in a multi-period setting. This methodology estimates a hindsight upper bound on active management fees. The methodology is demonstrated in an empirical study for the Energy industry. In this study...

A method of pension portfolio management with Minimax Regret with respect to the best hindsight constant-mix portfolio is presented. This is achieved via a BHCM derivative contract, where several approaches for pricing such a derivative are exhibited. A set of Empirical comparisons with more...

El Banco Interamericano de Desarrollo organizó en marzo de 1997 un "Simposio de ciudades y Foro de buenas prácticas en gestión urbana" . En él se debatieron las nuevas ideas sobre el papel de los centros urbanos en el futuro de la región, los problemas que enfrentarán al asumir este papel...

El Banco Interamericano de Desarrollo organizó en marzo de 1997 un "Simposio de ciudades y Foro de buenas prácticas en gestión urbana" . En él se debatieron las nuevas ideas sobre el papel de los centros urbanos en el futuro de la región, los problemas que enfrentarán al asumir este papel...