University of Manchester

Displaying 1-40 of 183 results

  • White Papers // Sep 2012

    Financial Option Market Model for Federated Cloud Environments

    Pay-per-use service by Cloud service providers has attracted customers in the recent past and is still evolving. Since the resources being dealt within Clouds are non-storable and the physical resources need to be replaced very often, pricing the service in a way that would return profit on the initial capital...

    Provided By University of Manchester

  • White Papers // May 2012

    Cooperative Spectrum Sensing With Noncoherent Transmission

    The problem of decision fusion for cooperative spectrum sensing in cognitive radio networks is studied when noisy fading channels are present between the Cognitive Radios (CRs) and the Fusion Center (FC). The CRs perform spectrum sensing using energy detection and transmit their binary decisions to the FC for a final...

    Provided By University of Manchester

  • White Papers // May 2012

    MDP-Based Admission Control for Multicast Streaming Services in Wireless Mobile Networks

    The authors investigate the optimal admission control policy for Multicast Streaming Services (MSS) in the 3rd Generation (3G) and beyond wireless mobile networks. An admission decision in MSS is required only when an empty session not being in service is requested due to the point-to multipoint nature, whereas it is...

    Provided By University of Manchester

  • White Papers // May 2012

    Performance Analysis of Cognitive Radio Networks With Channel Assembling and Imperfect Sensing

    This paper investigates the performance of a wideband cognitive radio network where each cognitive user can assemble multiple primary channels. Two channel assembling schemes are considered: a Constant Channel Assembling (CCA) and a Variable Channel Assembling (VCA). In the variable channel assembling scheme, cognitive users assemble their channels on the...

    Provided By University of Manchester

  • White Papers // May 2012

    An Improved Channel Model for Cognitive Radio

    To analyze scenarios like spectrum handoff in overlay cognitive radio networks, the authors need to capture the status change of the target channels in a more realistic manner. Most of the existing cognitive radio channel models assume target channels to be busy only when occupied by primary users. However, in...

    Provided By University of Manchester

  • White Papers // Mar 2012

    Applying Dataflow and Transactions to Lee Routing

    Programming multicore shared-memory systems is a challenging combination of exposing parallelism in their program and communicating between the resulting parallel paths of execution. The burden of communication can introduce complexity that is hard to separate from the pure expression of the algorithm and can negate the performance that is gained...

    Provided By University of Manchester

  • White Papers // Mar 2012

    Game Theoretic Modeling of Cooperation Among Service Providers in Mobile Cloud Computing Environments

    Mobile cloud computing aims at improving the performance of mobile applications and to enhance the resource utilization of service providers. In this paper, the authors consider a mobile cloud computing environment in which the service providers can form a coalition to create a resource pool to support the mobile applications....

    Provided By University of Manchester

  • White Papers // Aug 2011

    Internal Versus External DSLs for Trace Analysis Extended Abstract

    This paper explores the design and implementation issues arising in the development of domain-specific languages for trace analysis. It introduces the audience to the general concepts underlying such special-purpose languages building upon the authors' own experiences in developing both external domain-specific languages and systems, such as EAGLE, HAWK, RULER and...

    Provided By University of Manchester

  • White Papers // Jul 2011

    What's Wrong And Right With Microfinance - Missing An Angle On Responsible Finance?

    Microfinance as the best way of tackling poverty is under attack. It has been accused of failing to help the poor, of treating its clients badly, of charging high interest rates and of encouraging poor people to take on excessive debt burdens. The authors examine these issues, and find that...

    Provided By University of Manchester

  • White Papers // May 2011

    Checking Flight Rules With TRACECONTRACT Application of a Scala DSL for Trace Analysis

    Typically during the design and development of a NASA space mission, rules and constraints are identified to help reduce reasons for failure during operations. These flight rules are usually captured in a set of indexed tables, containing rule descriptions, rationales for the rules, and other information. Flight rules can be...

    Provided By University of Manchester

  • White Papers // May 2011

    Discrete Time Analysis of Cognitive Radio Networks With Saturated Source of Secondary Users

    The strategy used for sensing in a cognitive radio network affects the white space that Secondary Users (SUs) perceive and hence their throughput. For example, let the average time interval between consecutive sensing be fixed. There are several possible ways to achieve this mean value. The SU may sense the...

    Provided By University of Manchester

  • White Papers // Apr 2011

    TRACECONTRACT: A Scala DSL for Trace Analysis

    In this paper, the authors describe TRACECONTRACT, an API for trace analysis, implemented in the SCALA programming language. They argue that for certain forms of trace analysis the best weapon is a high level programming language augmented with constructs for temporal reasoning. A trace is a sequence of events, which...

    Provided By University of Manchester

  • White Papers // Mar 2011

    Lost in Translation: Data Integration Tools Meet the Semantic Web

    More information is now being published in machine processable form on the web and, as de-facto distributed knowledge bases are materializing, partly encouraged by the vision of the Semantic Web, the focus is shifting from the publication of this information to its consumption. Platforms for data integration, visualization and analysis...

    Provided By University of Manchester

  • White Papers // Mar 2011

    Capital Regulation, Monetary Policy And Financial Stability

    This paper examines the roles of bank capital regulation and monetary policy in mitigating procyclicality and promoting macroeconomic and financial stability. The analysis is based on a dynamic stochastic model with imperfect credit markets. Macroeconomic (financial) stability is defined in terms of the volatility of nominal income (real house prices)....

    Provided By University of Manchester

  • White Papers // Jan 2011

    The Innofusion Of Electronic Banking In Indonesia

    Even though financial innovation plays an important role in the modern economy, surprisingly there have been few empirical literatures. In developing countries, electronic banking (e-banking), for example, received relatively little attention although has been deployed for years. Indonesia presents unique case of Asian tiger economies, especially after experiencing crisis, financial...

    Provided By University of Manchester

  • White Papers // Jan 2011

    User Feedback as a First Class Citizen in Information Integration Systems

    User feedback is gaining momentum as a means of addressing the difficulties underlying information integration tasks. It can be used to assist users in building information integration systems and to improve the quality of existing systems, e.g., in dataspaces. Existing proposals in the area are confined to specific integration sub-problems...

    Provided By University of Manchester

  • White Papers // Jan 2011

    The Limits Of Information? A Game Theoretic Contribution To Understanding The Development Of An Indicators Policy For The UK Construction Industry

    In the UK over the last decade, benchmarking has been consistently promoted as a solution to the problems of industry and the construction industry in particular. Government support of benchmarking in construction through the development of a key performance indicators program found justification in the public goods aspects of the...

    Provided By University of Manchester

  • White Papers // Jan 2011

    Towards Higher-Order Virtualization for Chip Multiprocessor Systems

    Parallelization and virtualization are rapidly becoming standard techniques on commodity platforms. The apparent trend is likely to continue in the foreseeable future. Indeed, there is significant synergy between parallel execution environments and Virtual Machines (VMs). This paper shows how to take the trend (And its synergy) to the limit. It...

    Provided By University of Manchester

  • White Papers // Jan 2011

    Business Cycle Synchronization Since 1880

    This paper studies the international business cycle behavior across 25 advanced and emerging market economies for which 125 years of annual GDP data are available. The picture that emerges is more fragmented than the one drawn by studies that focused on a narrower set of advanced market economies. The paper...

    Provided By University of Manchester

  • White Papers // Dec 2010

    Financial Integration And The Construction Of Historical Financial Data For The Euro Area

    Time series analysis for the Euro Area requires the availability of sufficiently long historical data series, but the appropriate construction methodology has received little attention. The benchmark dataset, developed by the European Central Bank for use in its Area Wide Model (AWM), is based on fixed-weight aggregation across countries with...

    Provided By University of Manchester

  • White Papers // Nov 2010

    Microfinance Regulation And Social Protection

    Arguably, micro-finance provides social protection for the vulnerable by enabling them to access finance, create assets and avoid backsliding into poverty traps. This paper aims to survey the status quo of regulation of micro-finance services in Africa and to map out patterns of micro-finance regulation. The paper explores the relationship...

    Provided By University of Manchester

  • White Papers // Nov 2010

    A Kernel Technique For Forecasting The Variance- Covariance Matrix

    The forecasting of Variance-Covariance Matrices (VCMs) is an important issue in finance, having applications in portfolio selection and risk management as well as being directly used in the pricing of several financial assets. In recent years an increasing body of literature has developed multivariate models to forecast this matrix; these...

    Provided By University of Manchester

  • White Papers // Oct 2010

    Regime Shifts In Mean-Variance Efficient Frontiers: Some International Evidence

    Regime switching models have been assuming a central role in financial applications because of their well-known ability to capture the presence of rich non-linear patterns in the joint distribution of asset returns. This paper examines how the presence of regimes in means, variances, and correlations of asset returns translates into...

    Provided By University of Manchester

  • White Papers // Oct 2010

    Microfinance And Poverty A Macro Perspective

    This paper tests the hypothesis that microfinance reduces poverty at macro level using cross-country and panel data, based on the Microfinance Information EXchange (MIX) data on MFIs and the new World Bank poverty estimates. Taking account of the endogeneity associated with loans from MFIs, the authors' econometric analysis shows that...

    Provided By University of Manchester

  • White Papers // Oct 2010

    A New Keynesian Model With Heterogeneous Price Setting

    The Calvo contract pricing mechanism has become the most widely accepted microfoundation to the NK Phillips curve but unfortunately predicts that all firms in the economy face the same probability of price change. To better explain the stylized fact this paper relaxes the homogeneous firm assumption in the Calvo contract,...

    Provided By University of Manchester

  • White Papers // Oct 2010

    Does Microfinance Reduce Poverty In Bangladesh? New Evidence From Household Panel Data

    The purpose of the present paper is to examine whether microfinance reduces poverty in Bangladesh drawing upon the nationally representative household panel data covering 4 rounds from 1997 to 2005. A special attention was drawn to the issue of endogeneity by applying treatment effects model and Propensity Score Matching (PSM)...

    Provided By University of Manchester

  • White Papers // Sep 2010

    Actor Network Pictures And Networking Activities In Business Networks: An Exploratory Empirical Study

    In recent years, there has been increasing interest among business-to-business marketing scholars in the processes of managerial cognition. In particular, actors' network pictures, defined as the cognitive representations of their business surrounding, have attracted much attention. However, so far there has been little empirical research on the impact that network...

    Provided By University of Manchester

  • White Papers // Sep 2010

    A Cholesky-MIDAS Model For Predicting Stock Portfolio Volatility

    This paper presents a simple forecasting technique for variance covariance matrices. It relies significantly on the contribution of Chiriac and Voev (2010) who propose to forecast elements of the Cholesky decomposition which recombine to form a positive definite forecast for the variance covariance matrix. The method proposed here combines this...

    Provided By University of Manchester

  • White Papers // Sep 2010

    Investigating Sources Of Unanticipated Exposure In Industry Stock Returns

    This paper investigates the sources of both foreign exchange rate and interest rate exposure of industry level portfolios in the G7, decomposing exposure into cash flow and discount rate effects. Initial examination of the degree of exposure on industry returns produces results consistent with the prior literature: that there is...

    Provided By University of Manchester

  • White Papers // Sep 2010

    Determinants Of Corporate Exchange Rate Exposure And Implications For Investors: Evidence From Chilean Firms

    This paper investigates the impact of exchange rate fluctuations on the value of nonfinancial firms in Chile. Using a detailed dataset on firms' foreign activities, the potential determinants of the identified exposure are examined. Foreign exchange exposure depends on the levels of foreign currency debt and foreign currency assets. Levels...

    Provided By University of Manchester

  • White Papers // Sep 2010

    State And Self Investments In Health

    The authors consider how individuals' decisions on their health behaviors depend on the level of investment in their health provided by the State. They develop the model provided by Ehrlich and Becker (1972) and Peltzman (1975) and they show that higher levels of protection provided by the State (either through...

    Provided By University of Manchester

  • White Papers // Sep 2010

    Microfinance Efficiency Trade-Offs And Complementarities

    This paper argues that patterns, trends and drivers of the efficiency of MicroFinance Institutions (MFIs) depend on the scope of financial sustainability measures and on MFIs' inclination to either of the dual objectives of financial systems and outreach. A balanced panel data of 164 MFIs for the period 2004-08 is...

    Provided By University of Manchester

  • White Papers // Sep 2010

    Interest Rate Formation In Informal Credit Markets In India: Does Level Of Development Matter?

    Access by the poor to financial resources on favourable terms and conditions is a necessary prerequisite for achieving any developmental goal for an economy. However, in India, about 50 percent of the populations are financially excluded from the formal banking network. These households avail loans from informal lenders, who generally...

    Provided By University of Manchester

  • White Papers // Sep 2010

    Does The Macro-economy Predict U.K. Asset Returns In A Nonlinear Fashion? Comprehensive Out-Of-Sample Evidence

    The authors perform a comprehensive examination of the recursive, comparative predictive performance of a number of linear and non-linear models for UK stock and bond returns. They estimate Markov switching, Threshold Autoregressive (TAR), and Smooth Transition Autoregressive (STR) regime switching models, and a range of linear specifications in addition to...

    Provided By University of Manchester

  • White Papers // Aug 2010

    The Impact Of The Country-Of-Origin Effect On Trust In Business Relationships

    It is the purpose of this paper to analyse how trust is formed within business relationships in cases in which the buyer's firm stems from a developed economy that has a positive Country-Of-Origin image (COO) whereas the seller's company emanates from a developing nation with a negative Country-Of-Origin image. This...

    Provided By University of Manchester

  • White Papers // Aug 2010

    The Fit Of Business Relationships With Business Strategies

    The concept of strategic fit has been a focus of the contemporary literature on organisational behaviour and strategy. This concept follows the logic of contingency theory and suggests that where business strategy is aligned with organizational structures; such a Gestalt provides the greatest contribution to firm performance. In this paper,...

    Provided By University of Manchester

  • White Papers // Aug 2010

    The Role Of Inter-Firm Market Orientation On The Market Orientation - Performance Relationship

    Many researchers have studied market orientation over the last two decades and have argued its impact on firm performance. Much of the work has focused on the intra-firm market orientation of firms, namely manufacturers or suppliers and their own firm's performance. Some have also considered the impact of market orientation...

    Provided By University of Manchester

  • White Papers // Aug 2010

    Partner Knowledge, Internal Communication And Customer Relationship Quality In The Light Of Study Conducted In Slovenia

    The popularization of some network-based research constructs is widely observed among IMP scholars. Most existing studies about inter-firm networks are descriptive and qualitative in nature which resulted in generating many new concepts but the ability of this kind of studies in providing managerial guidelines has been questioned (Golfetto, Salle, Borghini,...

    Provided By University of Manchester

  • White Papers // Aug 2010

    Understanding Network Picture Complexity: An Empirical Analysis Of Contextual Factors

    There has recently been increasing interest in the relationship between managers' perceptions of their surroundings and their interactions with other actors. This sense-making issue is linked to the development of the concept of network pictures. The paper investigates a hitherto neglected aspect of network pictures: Their complexity. In several bodies...

    Provided By University of Manchester

  • White Papers // Aug 2010

    An Evaluation Of Government Efforts To Improve Regulatory Decision Making

    In response to the increasing impact of laws and regulations, several governments have introduced economic analysis as a way of improving regulatory decision making. This paper provides the first comprehensive assessment of government supported economic analysis of laws and regulations. It also reviews the changing role of economic analysis in...

    Provided By University of Manchester

  • White Papers // Mar 2009

    Mobile Payment Emerging BusinessMobile Phones and Financial Services in Developing Countries: A Review of Concepts, Methods, Issues, Evidence and Future Research Directions Model Scenarios: Industry Stakeholder Survey Results

    Research concerning mobile phones and financial services in developing countries has undergone rapid growth in recent years. This paper seeks to improve understanding of this expanding research area and in so doing consider the potential for mobile phone applications for the delivery of financial services for the poor. The current...

    Provided By University of Manchester

  • White Papers // Aug 2010

    Percieved Benifits And Management Commitment Of E-Business Usage In Selected Ghanaian Tourism Firms

    The authors set out in this paper to generate a preliminary understanding of the benefits of c-business to tourism firm players in Ghana. They also sought to ascertain the commitment of top management to e - business development in Glianaian tourist firms. They investigate the research issues by surveying 60...

    Provided By University of Manchester

  • White Papers // Sep 2008

    Bouquets, Brickbats And Blinkers: Total Quality Management And Employee Involvement In Practice

    To its advocates, TQM is unequivocally good and leads to the empowerment of employees and deservedly attracts bouquets. Alternatively, those from a labour process perspective hurl brickbats, arguing that it represents an intensification of work, shifting the frontier of control firmly in management's favour. Authors argue, however, that both of...

    Provided By University of Manchester

  • White Papers // Sep 2008

    The process Of Enterprise Resource Planning Implementation and Business Process Re-Engineering

    Using an innovative process model, authors describe and analyse the process of introducing enterprise resource planning (ERP) systems in two Chinese small and medium-sized enterprises and especially their decisions concerning business process re-engineering. First authors compared the results from cases with Martinsons' earlier work (2004). One case seemed to fit...

    Provided By University of Manchester

  • White Papers // Oct 2009

    The OWL API: A Java API for Working With OWL 2 Ontologies

    This paper presents the OWL API a high level Application Programming Interface (API) for working with OWL 2 ontology's. The API is closely aligned with the OWL 2 structural specification. It supports parsing and rendering in the syntaxes defined in the W3C specification, namely, the Functional Syntax, RDF/XML, OWL/XML and...

    Provided By University of Manchester

  • White Papers // Jan 2011

    Towards Higher-Order Virtualization for Chip Multiprocessor Systems

    Parallelization and virtualization are rapidly becoming standard techniques on commodity platforms. The apparent trend is likely to continue in the foreseeable future. Indeed, there is significant synergy between parallel execution environments and Virtual Machines (VMs). This paper shows how to take the trend (And its synergy) to the limit. It...

    Provided By University of Manchester

  • White Papers // Feb 2009

    Earnings Reporting And Analysts' Earnings Forecasts: The Perceptions Of UK Analysts And Financial Managers

    This paper contains the findings from exploratory interviews of a small number of investment professionals and financial managers. In addition it reports the results of a small scale survey of analysts and finance directors that builds on insights yielded by the exploratory interviews. The main purpose of the paper was...

    Provided By University of Manchester

  • White Papers // Oct 2008

    Industry Structure, Procurement And Innovation In The UK Defense Sector

    There is agreement within industrial organization economics that an inverted U-shape relationship exists between the level of competition in an industry and the level of innovation in that industry. Thus, when consolidation changes the level of competition in an industry they might expect this to have implications for the level...

    Provided By University of Manchester

  • White Papers // Sep 2008

    On The Information Content Of The Fama And French Factors In The UK

    This study explores the information content of HML and SMB by linking the Fama-French factors to shocks in the state variables which predict future investment opportunities. It shows that the HML factor contains information about shocks to default spread. Moreover, the Fama-French model explains the cross-section of average returns on...

    Provided By University of Manchester

  • White Papers // Sep 2008

    Clustering In The UK Financial Services: The Quest For The Enigmatic Pecuniary Externality

    This paper explores the sources of agglomeration externalities in enhancing firm performance, in particular, the pecuniary externality that supports firms' bottom line. The fundamental argument on increasing returns leads to the premise that cluster size has beneficial influence to firm performance. However, recent arguments suggest that diseconomies may set in...

    Provided By University of Manchester

  • White Papers // Sep 2008

    Choice Of Interest Rate Term Structure Models For Assets And Liability Management

    This paper compares the pricing and hedging performance of the LMM model against two spot-rate models, namely Hull-White and Black-Karasinski, and the more recent Swap Market Model from an Asset-Liability-Management (ALM) perspective. In contrast to previous studies in the literature, the emphasis here is on ALM and the authors use...

    Provided By University of Manchester

  • White Papers // Sep 2008

    Short Rate Models: Hull-White Or Black-Karasinski? Implementation Note And Model Comparison For ALM

    In this paper, the authors compare two one-factor short rate models: the Hull White model and the Black-Karasinski model. Despite their inherent shortcomings the short rate models are being used quite extensively by the practitioners for risk-management purposes. The research, as part of students' projects in collaboration with the Asset-Liability-Management...

    Provided By University of Manchester

  • White Papers // Sep 2008

    Swap Market Model: Theory And Empirical Evidence

    This paper tests the co-terminal Swap Market Model (SMM) pricing and hedging performance on Bermudan swaptions. To the knowledge, the drift for SMM is derived explicitly for the first time here, and the procedures for calibration and simulation using a collection of forward swap rates are also shown in detail....

    Provided By University of Manchester

  • White Papers // Sep 2008

    The Impact Of Universities On Regional Innovation: A Critique And Policy Implications

    The impact of universities on the economic wellbeing and innovative potential of regions has been the object of intense scholarly and policy interest in the last years. This paper proposes a review and a critique of current views on the role of universities and their associated policy implications. This paper...

    Provided By University of Manchester

  • White Papers // Oct 2008

    What Is Evolutionary About 'Regional Systems Of Innovation'? Implications For Regional Policy

    The literature on Regional Systems of Innovation (RSI) has produced an extensive body of research in recent years and has been used widely as a framework for the design and implementation of policies in a variety of regional contexts. However, certain lack of clarity remains in relation to the defining...

    Provided By University of Manchester

  • White Papers // Oct 2008

    Power And Leadership In Promotion Of Regional Development: An Empirical Analysis Of The Work Of Finnish Regional Development Officers

    Increased complexity and rapid pace of change demand more from people responsible for regional development at various levels of activity. This paper has its roots in a belief that the more complex situations are the more regional development is dependent on the leadership and network management capacity of key individuals....

    Provided By University of Manchester

  • White Papers // Nov 2008

    Tranching And Rating

    In this paper the authors analyze the source and magnitude of marketing gains from selling structured debt securities at yields that reflect only their credit ratings, or specifically at yields on equivalently rated corporate bonds. They distinguish between credit ratings that are based on probabilities of default and ratings that...

    Provided By University of Manchester

  • White Papers // Sep 2009

    Self-Renewal Capacity And Economic Growth

    This paper adopts the point of view that a crisis will face a person, organization, region or country at some point in their life span or history. The question is how to prepare for the crises and recover from them afterwards? Some of them recover better than others and in...

    Provided By University of Manchester

  • White Papers // Jan 2009

    Scope, Strategy And Structure: The Dynamics Of Knowledge Networks In Medicine

    This paper is to analyze the dynamics of networks in which new knowledge emerges and through which it is exchanged. The conjecture is that the structure of a network cannot be divorced from the dynamics of the knowledge underpinning its activities. In so doing the authors look beyond studies based...

    Provided By University of Manchester

  • White Papers // Jun 2009

    Gate-Sharing And Talent Distribution In The English Football League

    Using a data base of the movements of over two thousand professional footballers in the top two divisions of the English Football League between 1969 and 1995, this paper examines the impact on talent distribution through the movement of players after gate-revenue sharing was abandoned in this league. It is...

    Provided By University of Manchester

  • White Papers // Jun 2009

    Changing Competition Models In Market Economies: The Effects Of Internationalization, Technological Innovations And Academic Expansion On The Conditions Supporting Dominant Economic Logics

    Different ways of competing in markets came to dominate particular sectors, regions and national market economies in the postwar period as a result of variations in market conditions, technological regimes and institutional contexts. These varied in terms of production volumes, basis of competition and rapidity of response to changes in...

    Provided By University of Manchester

  • White Papers // Jul 2009

    Understanding The Innovation Impacts Of Public Procurement

    Public procurement accounts for a significant proportion of overall demand for goods and services and is increasingly seen as an attractive and feasible instrument for furthering the goals of innovation policy. However, public procurement is already expected to address a wide range of social goals. Much of the current debate...

    Provided By University of Manchester

  • White Papers // Jul 2009

    Opening The Black Box: Adoption Of Innovations In Voluntary Organizations

    Despite the considerable attention paid to research into the adoption of technological innovations in government agencies and business firms, little attention has been paid to other types of organizations such as Voluntary Organizations (VOs). As a result, many things remain unknown: the patterns of uptake and adoption in VOs, the...

    Provided By University of Manchester

  • White Papers // Jul 2009

    Mapping The Tacit Component: Getting Away From Knowledge Conversion

    This paper argues for a radical new understanding of the topic generally referred to as Tacit Knowledge. On the basis of a new appraisal of the work of Michael Polanyi, the authors argue that mapping, assessing, fostering, developing, and improving the tacit component in all use of skill and knowledge...

    Provided By University of Manchester

  • White Papers // Sep 2009

    Innovation Patterns Under The Magnifying Glass. Firm-Level Latent Class Analysis Of Innovation Activities In Services

    Innovation is still an obscure concept although many efforts have been made to improve the understanding and measurement of it. The growth of service activities throughout the economy has encouraged scholars, policy makers and executives to explore the determinants and features of the innovation developed by service enterprises. Many empirical...

    Provided By University of Manchester

  • White Papers // Jul 2009

    Demand Policies For Innovation In EU CEE Countries

    The paper discusses demand and demand conditions for innovation as well as demand based policies for innovation in the context of the EU CEE countries. Far from regarding demand policies as a simplistic silver bullet, this paper argues that the EU CEEC catch up process could potentially be accelerated through...

    Provided By University of Manchester

  • White Papers // Oct 2009

    A Simple Model Of Trading And Pricing Risky Assets Under Ambiguity: Any Lessons For Policy-Makers?

    Moreover, recent experience has shown that distress and lack of active trading can jump "Around" between seemingly unconnected parts of the financial system contributing to transforming isolated shocks into systemic panic attacks. The authors develop a simple two-period model populated by both standard expected utility maximizes and by ambiguity-averse investors...

    Provided By University of Manchester

  • White Papers // Aug 2008

    Time And Risk Diversification In Real Estate Investments: Assessing The Ex Post Economic Value

    Welfare gains to long-horizon investors may derive from time diversification that exploits non-zero inter-temporal return correlations associated with predictable returns. Real estate may thus become more desirable if its returns are negatively serially correlated. While it could be important for long horizon investors, time diversification has been mostly investigated in...

    Provided By University of Manchester

  • White Papers // Oct 2009

    Portfolio And Consumption Decisions Under Ambiguity For Regime Switching Mean Returns

    This paper examines a continuous-time inter-temporal consumption and portfolio choice problem for an ambiguity-averse investor with multiple priors when the expected return of a risky asset is unobservable and follows a hidden Markov chain. The investor's beliefs over investment opportunities are represented by a set of priors over the process...

    Provided By University of Manchester

  • White Papers // Sep 2009

    Robust Consumption And Portfolio Choice For Time-Varying Investment Opportunities

    This paper examines a continuous-time inter-temporal consumption and portfolio choice problem for an investor with Duffie and Epstein (1992a)'s recursive preferences that worries about model misspecification and wants to seek robust decision rules. The expected excess return of a risky asset follows a mean-reverting process. The author finds that whether...

    Provided By University of Manchester

  • White Papers // Nov 2008

    Financial Crisis In Asia And The Pacific Region: Its Genesis, Severity And Impact On Poverty And Hunger

    Building on a vast recent literature on finance, growth and hunger, the authors have examined the experience of 9 Asian countries over the period 1960-2006, using a state-of art-econometric methodology. Although the results are mixed depending on the specification and variables used, there is some evidence favouring a positive role...

    Provided By University of Manchester

  • White Papers // Nov 2008

    Vertical Handover in Beyond Third Generation (B3G) Wireless Networks

    Currently, there are several wireless networks deployed around the world. Examples include cellular networks, metropolitan area networks, wireless local area networks, and personal area networks. The combination of all these networks is usually called the Beyond 3G (B3G) wireless networks. New state-of-the-art mobile terminals will allow users to freely move...

    Provided By University of Manchester

  • White Papers // Aug 2011

    Internal Versus External DSLs for Trace Analysis Extended Abstract

    This paper explores the design and implementation issues arising in the development of domain-specific languages for trace analysis. It introduces the audience to the general concepts underlying such special-purpose languages building upon the authors' own experiences in developing both external domain-specific languages and systems, such as EAGLE, HAWK, RULER and...

    Provided By University of Manchester

  • White Papers // May 2011

    Checking Flight Rules With TRACECONTRACT Application of a Scala DSL for Trace Analysis

    Typically during the design and development of a NASA space mission, rules and constraints are identified to help reduce reasons for failure during operations. These flight rules are usually captured in a set of indexed tables, containing rule descriptions, rationales for the rules, and other information. Flight rules can be...

    Provided By University of Manchester

  • White Papers // Apr 2011

    TRACECONTRACT: A Scala DSL for Trace Analysis

    In this paper, the authors describe TRACECONTRACT, an API for trace analysis, implemented in the SCALA programming language. They argue that for certain forms of trace analysis the best weapon is a high level programming language augmented with constructs for temporal reasoning. A trace is a sequence of events, which...

    Provided By University of Manchester

  • White Papers // Jul 2009

    Rule Systems for Runtime Verification

    In this paper, the authors introduce two rule-based systems for on and offline trace analysis, RULER and LOGSCOPE. RULER is a conditional rule-based system, which has a simple and easily implemented algorithm for effective runtime verification, and into which one can compile a wide range of temporal logics and other...

    Provided By University of Manchester

  • White Papers // Apr 2009

    A Plea for Glasnost Between the Machine Learning and Computer Systems Communities

    As machine learning scales to larger and more complex problems, the community increasingly requires higher performance computer systems. Meanwhile in order to achieve higher performance, computer systems are becoming increasingly complex. Such complex systems are difficult to organise and optimize manually. In fact, a small set of systems researchers has...

    Provided By University of Manchester

  • White Papers // Mar 2009

    Parallel Query Processing on the Grid

    Database queries offer an easy-to-use declarative manner for describing complex data management tasks. Query processing technologies have been evolving for decades; however, the emergence of the Grid creates a new setting in which novel research issues and challenges have arisen. This paper discusses how Grid-oriented and/or service-based query processors differ...

    Provided By University of Manchester

  • White Papers // Mar 2012

    Applying Dataflow and Transactions to Lee Routing

    Programming multicore shared-memory systems is a challenging combination of exposing parallelism in their program and communicating between the resulting parallel paths of execution. The burden of communication can introduce complexity that is hard to separate from the pure expression of the algorithm and can negate the performance that is gained...

    Provided By University of Manchester

  • White Papers // Mar 2009

    Transaction Reordering to Reduce Aborts in Software Transactional Memory

    In transactional memory, conflicts between two concurrently executing transactions reduce performance, reduce scalability, and may lead to aborts, which waste computing resources. Ideally, concurrent execution of transactions would be ordered to minimise conflicts, but such an ordering is often complex, or unfeasible, to obtain. This paper identifies a pattern, called...

    Provided By University of Manchester