This paper tests whether portfolio managers can make reliable predictions of the portfolio variance with available risk measures. Using out-of-sample tests, we compare four sets of models for their ability to predict portfolio variance. The models are based on: (I) time series of returns, (ii)...

At KSG, we are asking whether the skills and capacities--and therefore training--of public officials must be reconceived as governance responsibilities migrate away from the central state to other locations. The question itself assumes that we have a settled understanding of which skills and...

In 2001, China’s Ministry of Education launched a new graduate program in public administration at twenty-four universities around the country, with the explicit goal of improving management and policy-making skills in the public sector. From the beginning, these professional training schools...

At the end of WWII, U.S. occupation forces transformed Japan from an autocratic polity into a constitutional democracy. Part of the plan called for transplanting the constitutional right to silence for criminal defendants, to replace the traditional Japanese emphasis on confessions. The failure...

With the explosive growth of transnational dealings, professionals in developed countries have expanding opportunities to spread their particular ways of doing things around the world. However, missionary work, whether religious or secular, raises difficult questions about ends and means. What...

Quantitative portfolio management has become a highly specialized discipline. Computing power and software improvements have advanced the field to a level that would not have been thinkable when Harry Markowitz began the modern era of quantitative portfolio management in 1952. In addition to raw...