The response of coastal sand bodies to sea level rise can be modelled using computer simulation of large scale coastal behaviour based only on principles of sand-mass conservation and geometric rules for shoreface and barrier morphology. The model simulates horizontal and vertical translation of...

The paper derives and tests maximum likelihood parameter estimators for symmetrically correlated Weiner processes observed at discrete intervals. Such processes are arise when pricing and determining Value-at-Risk for portfolio derivatives. Cases of driftless and mean-reverting state variables...

In a study of companies operating in the mechanical, technical and electronic engineering sector within the Portsmouth, Fareham and Gosport travel‐to‐work areas in South Hampshire the authors found that high training companies with an emphasis on the development of human resources were far...

This paper studies the effects of monetary policy on asset trading and production in a laboratory economy. Participants play the role of household investors who make consumption, labor, and investment decisions. Introducing asset markets to the economy does not generate significant real effects....

We consider a general framework where weaker patterns of identifcation may arise: typically, the data generating process is allowed to depend on the sample size. However, contrary to what is usually done in the literature on weak identification, we do not give up the efficiency goal of...

The theory of second best established that the effect on community welfare of any one policy change varies with the specific context in which that change occurs. In paper that has been frequently quoted to justify specific policies, Ng argues that fulfilling firstbest conditions piecemeal is an...