Volatility modelling in the forex market: an empirical evaluation

We compare three frequently used volatility modelling techniques: GARCH, Markovian switching and cumulative daily volatility models. Our primary goal is to highlight a practical and systematic way to measure the relative effectiveness of these techniques. Evaluation comprises the analysis of the validity of the statistical requirements of the various models and their performance in simple options hedging strategies. The latter puts them to test in a "real life" application. Though there was not much difference between the three techniques, a tendency in favour of the cumulative daily volatility estimates, based on tick data, seems dear. As the improvement is not very big, the message for the practitioner - out of the restricted evidence of our experiment - is that he will probably not be losing much if working with the Markovian switching method. This highlights that, in terms of volatility estimation, no clear winner exists among the more sophisticated techniques.

Evaluation of contagion or interdependence in the financial crises of Asia and Latin America, considering the macroeconomic fundamentals

This article investigates the existence of contagion between countries on the basis of an analysis of returns for stock indices over the period 1994-2003. The economic methodology used is that of multivariate GARCH family volatility models, particularly the DCC models in the form proposed by Engle and Sheppard (2001). The returns were duly corrected for a series of country-specific fundamentals. The relevance of this procedure is highlighted in the literature by the work of Pesaran and Pick (2003). The results obtained in this paper provide evidence favourable to the hypothesis of regional contagion in both Latin America and Asia. As a rule, contagion spread from the Asian crisis to Latin America but not in the opposite direction

Show me the money and I will bring you the head: evaluation of the effects of self-interest and anger on whistleblowing

Though many of those who decided to report wrongdoings in their organizations were able to tell their stories (e.g. Bamford, 2014, Armenakis 2004), it is fair to say that there is still much left to uncover. The paper aims to contribute to the literature in three ways. First, it provides preliminary evidence that the wrongdoing linked with individual financial loss leads to higher whistleblowing rate. Secondly, it shows how the experience of anger is related to the higher likelihood to report the wrongdoer but only if the wrongful act is perceived as a cause of one’s financial loss. Finally, the paper establishes first steps for the future development of an experimental procedure that would enable to predict, and measure whistleblowing behavior in the lab environment.

Stability and Local Toxicity Evaluation of a Liposomal Prilocaine Formulation

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Evaluation of the Genotoxicity of Chitosan Nanoparticles for Use in Food Packaging Films

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Ultrasonographic Evaluation of Canine Supraspinatus Calcifying Tendinosis

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Pharmacokinetic and safety evaluation of the use of ciprofloxacin on an isoniazid-rifampicin regimen in rabbits

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Cell cycle arrest evidence, parasiticidal and bactericidal properties induced by L-amino acid oxidase from Bothrops atrox snake venom

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Evaluation of enamel surface after bracket debonding and polishing

INTRODUÇÃO: a preservação da estrutura de esmalte após a remoção dos acessórios ortodônticos é obrigação do clínico. Portanto, procura-se um protocolo de descolagem com bases científicas. OBJETIVO: objetivou-se avaliar por microscopia eletrônica de varredura (MEV) a influência de quatro protocolos de remoção de braquetes e polimento da superfície do esmalte e propor um protocolo que minimize os danosà superfície do esmalte. MÉTODOS: doze incisivos permanentes bovinos foram divididos em quatro grupos de acordo com os instrumentos utilizados para a descolagem dos braquetes e remoção do remanescente adesivo. Os braquetes foram descolados com o alicate de descolagem reto (Ormco Corp.) nos grupos 1 e 2, e com o instrumento de descolagem Lift-Off (3M Unitek) nos grupos 3 e 4. Os remanescentes adesivos dos grupos 1 e 3 foram removidos com o alicate removedor de resina longo (Ormco Corp.) e dos grupos 2 e 4 com broca de carboneto de tungstênio (Beavers Dental) em alta-rotação. As superfícies, após cada etapa da descolagem e polimento, foram avaliadas em réplicas de resina epóxica e foram obtidas eletromicrografias com aumento de 50 e 200X. RESULTADOS: os quatro protocolos de remoção de acessórios ortodônticos e polimento ocasionaram irregularidades no esmalte. Conclusão: a remoção do braquete com o alicate de descolagem reto, seguido da remoção do remanescente adesivo com broca de carboneto de tungstênio e polimento final com pasta de pedra-pomes foi o procedimento que ocasionou menores danos ao esmalte, sendo o protocolo sugerido para a remoção dos acessórios ortodônticos.

Evaluation of the Smear Layer and Hybrid Layer in Noncarious and Carious Dentin Prepared by Air Abrasion System and Diamond Tips

Purpose: To analyze the smear layer and the hybrid layer in noncarious and carious dentin prepared by different cutting instruments and restored with composite resin. Study design: Cavities were randomly prepared in 160 specimens (noncarious and artificial carious dentin) by high-speed diamond tips (KG Sorensen 1013), air abrasion system (Prepstart, Danville Engineering), ultrasonic tip (CVDentus 8.3231-1), and ultrasonic tip associated with ultrasonic cavitation by water for 10 s. Half of the cavities in each group were conditioned with 37% phosphoric acid for 15 s. The amount of smear layer and dentinal tubules present were analyzed using scanning electron microscopy and graded from 0 to 3. Cavities were prepared in another 20 noncarious specimens and 20 carious specimens and restored with adhesive composite resin system. The restorations were hemisected longitudinally and analyzed using scanning electron microscopy to evaluate the hybrid layer and resinous prolongation characteristics, using scores ranging from 1 to 6. Results: The data were statistically analyzed using Kruskal-Wallis and Dunn tests at 5% of significance level. There was evidence that the most efficient smear layer removal was the acid etching in the noncarious dentin and the water ultrasonic cavitation in the carious dentin. The hybrid layer formed on the noncarious and carious dentin prepared by the ultrasonic tip was more regular than in the specimens prepared by high-speed diamond tip, with many resinous prolongations. Conclusion: The ultrasonic tip seems to be a promising tool for carious dentin cavity preparation. Microsc. Res. Tech. 73:597-605, 2010. (C) 2009 Wiley-Liss, Inc.

A quantitative and qualitative evaluation of reports of clinical trials published in six Brazilian dental journals indexed in the Scientific Electronic Library Online (SciELO)

Introduction: Open access publishing is becoming increasingly popular within the biomedical sciences. SciELO, the Scientific Electronic Library Online, is a digital library covering a selected collection of Brazilian scientific journals many of which provide open access to full-text articles. This library includes a number of dental journals some of which may include reports of clinical trials in English, Portuguese and/or Spanish. Thus, SciELO could play an important role as a source of evidence for dental healthcare interventions especially if it yields a sizeable number of high quality reports. Objective: The aim of this study was to identify reports of clinical trials by handsearching of dental journals that are accessible through SciELO, and to assess the overall quality of these reports. Material and methods: Electronic versions of six Brazilian dental Journals indexed in SciELO were handsearched at www.scielo.br in September 2008. Reports of clinical trials were identified and classified as controlled clinical trials (CCTs - prospective, experimental studies comparing 2 or more healthcare interventions in human beings) or randomized controlled trials (RCTs - a random allocation method is clearly reported), according to Cochrane eligibility criteria. Criteria to assess methodological quality included: method of randomization, concealment of treatment allocation, blinded outcome assessment, handling of withdrawals and losses and whether an intention-to-treat analysis had been carried out. Results: The search retrieved 33 CCTs and 43 RCTs. A majority of the reports provided no description of either the method of randomization (75.3%) or concealment of the allocation sequence (84.2%). Participants and outcome assessors were reported as blinded in only 31.2% of the reports. Withdrawals and losses were only clearly described in 6.5% of the reports and none mentioned an intention-to-treat analysis or any similar procedure. Conclusions: The results of this study indicate that a substantial number of reports of trials and systematic reviews are available in the dental journals listed in SciELO, and that these could provide valuable evidence for clinical decision making. However, it is clear that the quality of a number of these reports is of some concern and that improvement in the conduct and reporting of these trials could be achieved if authors adhered to internationally accepted guidelines, e. g. the CONSORT statement.

Histological and histomorphometrical evaluation of furcation perforations filled with MTA, CPM and ZOE

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Microscopic evidence supports the hypothesis of high cellulose degradation capacity by the symbiotic fungus of leaf-cutting ants

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

PRP8 intein in Ajellomycetaceae family pathogens: Sequence analysis, splicing evaluation and homing endonuclease activity

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Evaluation of the Naturally Acquired Antibody Immune Response to the Pv200L N-terminal Fragment of Plasmodium vivax Merozoite Surface Protein-1 in Four Areas of the Amazon Region of Brazil

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)