Ghosts and Television

This chapter explores the ghost story on television, and particularly the tensions between the medium and the genre. Television has long been seen as a nearly-supernatural medium, an association that the very term 'medium' enhances. In particular, the very intimacy of television, and its domestic presence, have led to it being considered to be a suitable and effective venue for the ghost story, while at the same time concerns have risen over it being too effective at conveying horror into the home. The ghost story is thus one of the genres where the tensions between the medium's aesthetic possibilities and desire for censorship can be most clearly seen. As such, there is a recurring use of the ghost story in relation to different techniques of special effects and narrative on television, some more effective than others, and the presence of the ghost story on television waxes and wanes as different styles become more or less popular, and different narrative forms, such as single play or serial or series, become more or less dominant. Drawing on examples primarily from a British and US context, this chapter outlines the history of the ghost story on television and demonstrates how the tensions in presentation, narrative and considerations of the viewer have influenced the many changes that have taken place within the genre.

US Dollar Carry Trades in the Era of 'Cheap Money'

In this paper, we employ a unique dataset of actual US dollar (USD) forward positions against a number of currencies taken by so-called Commodity Trading Advisors (CTAs). We investigate to what extent these positions exhibit a pattern of USD carry trading or other patterns of currency trading over the recent period of the ultra-loose US monetary policy. Our analysis indeed shows that USD positions against emerging market currencies are characterised by a pattern of carry trading. That is, the USD, as the lower yielding currency, is associated with short positions. The payoff distributions of these positions, moreover, are found to have positive Sharpe ratios, negative skewness and high kurtosis. On the other hand, we find that USD positions against other advanced country currencies have a pattern completely opposite to carry trading which is in line with uncovered interest parity trading; that is, the lower (higher) yielding currency is associated with long (short) positions.