Modelling and testing volatility spillovers in oil and financial markets for USA, UK and China

The primary purpose of the paper is to analyze the conditional correlations, conditional covariances, and co-volatility spillovers between international crude oil and associated financial markets. The paper investigates co-volatility spillovers (namely, the delayed effect of a returns shock in one physical or financial asset on the subsequent volatility or co-volatility in another physical or financial asset) between the oil and financial markets. The oil industry has four major regions, namely North Sea, USA, Middle East, and South-East Asia. Associated with these regions are two major financial centers, namely UK and USA. For these reasons, the data to be used are the returns on alternative crude oil markets, returns on crude oil derivatives, specifically futures, and stock index returns in UK and USA. The paper will also analyze the Chinese financial markets, where the data are more recent. The empirical analysis will be based on the diagonal BEKK model, from which the conditional covariances will be used for testing co-volatility spillovers, and policy recommendations. Based on these results, dynamic hedging strategies will be suggested to analyze market fluctuations in crude oil prices and associated financial markets.

Density forecasts of crude-oil prices using option-implied and ARCH-type models

The predictive accuracy of competing crude-oil price forecast densities is investigated for the 1994–2006 period. Moving beyond standard ARCH type models that rely exclusively on past returns, we examine the benefits of utilizing the forward-looking information that is embedded in the prices of derivative contracts. Risk-neutral densities, obtained from panels of crude-oil option prices, are adjusted to reflect real-world risks using either a parametric or a non-parametric calibration approach. The relative performance of the models is evaluated for the entire support of the density, as well as for regions and intervals that are of special interest for the economic agent. We find that non-parametric adjustments of risk-neutral density forecasts perform significantly better than their parametric counterparts. Goodness-of-fit tests and out-of-sample likelihood comparisons favor forecast densities obtained by option prices and non-parametric calibration methods over those constructed using historical returns and simulated ARCH processes. © 2010 Wiley Periodicals, Inc. Jrl Fut Mark 31:727–754, 2011

How do Small Players Deduce Beliefs about Uncertainty? A Look at Texas Shale Oil Investments

Thesis (Ph.D.)--University of Washington, 2016-08

Whisper our futures

Whisper Our Futures was an invited design proposal to produce a major public artwork for the State of Queensland’s 150th Anniversary Celebrations. It involved a network of 100 individual scrolling digital text boxes each with individual audio systems arranged together in a tessellated format. This form (specified by the originating brief) both mimicked the soaring gothic arches typical of Queensland cathedrals and was also suggestive of their stained glass windows. Each text module presented a message in both visual and audible forms for Queenslanders living 150 years hence - spoken both by the general public aw well as prominent figures. In this way the work was designed as a focus of future hope, historical reflection and inspiration to visitors to Queensland cathedrals throughout the entire year of celebrations (2009). The work was planned to premiere at Brisbane’s main Anglican Cathedral and then tour to nine other state cathedrals throughout 2009.---- Two staged proposals and budgets were invited throughout 2007. After the second successful proposal stage the State Premier and cabinet changed, ultimately leading the public art components to be dropped from the program. The proposal currently remains on file at the Queensland Premiers Office.

Enriching relationships : community engagment toward sustainable coastal futures

Coastal communities face the social, cultural and environmental challenges of managing rapid urban and industrial development, expanding tourism, and sensitive ecological environments. Enriching relationships between communities and universities through a structured engagement process can deliver integrated options towards sustainable coastal futures. This process draws on the embedded knowledge and values of all participants in the relationship, and offers a wide and affordable range of options for the future. This paper reviews lessons learnt from two projects with coastal communities, and discusses their application in a third. Queensland University of Technology has formed collaborative partnerships with industry in Queensland's Wide Bay-Burnett region to undertake a series of planning and design projects with community engagement as a central process. Senior students worked with community and produced design and planning drawings and reports outlining future options for project areas. A reflective approach has been adopted by the authors to assess the engagement process and outcomes of each project to learn lessons to apply in the next. Methods include surveying community and student participants regarding the value they place on process and outcomes respectively in planning for a sustainable future. All project participants surveyed have placed high importance on the process of engagement, emphasising the value of developing relationships between all project partners. The quality of these relationships is central to planning for sustainable futures, and while the outcomes the students deliver are valued, it is as much for their catalytic role as for their contents. Design and planning projects through community engagement have been found to develop innovative responses to the challenges faced by coastal communities seeking direction toward sustainable futures. The enrichment of engagement relationships and processes has an important influence on the quality of these design and planning responses.

Education futures : transforming teacher education in the middle years

The young people who populate our classrooms live in a changed and rapidly changing society: a society where information is the most valued commodity and where traditional ‘truth’s such as nation and family are increasingly destabilized and fragmented. Educators at primary, secondary and tertiary level must, with some urgency, address issues relating the emergence of new citizenships and identities, the impact of new technologies and new economies. Our pedagogy and curriculums must be relevant to the need of students now and in the future. The School of Education, The University of Queensland is addressing issues of change, new technologies, new work places, critical citizenry and the need for pedagogical and curriculum innovation through the development of a new Middle Years of Schooling Dual Degree program. This program is designed to equip pre-service teachers to approach pedagogy and curriculum in innovative ways and to challenge them to embrace diversity and change. This paper outlines the key features of the Middle Years of Schooling Dual Degree, identifying a number of innovative approaches to pre-service teacher education.

Re-invent yourself: from London intensive care nursing and the Nigerian oil fields to an an academic library in Brisbane; a career change worth making.

A complete change of career forces a seismic shift in every aspect of your life. From day one, you have to face the loss of long held beliefs, behaviours, the known world of self, and security. We came from professions that themselves are poles apart, and many of the challenges we faced entering the profession were the same: juggling full-time work, part time study, and family commitmemts, taking a pay cut, and loss of social life. But over a short period of time we both transitioned to our new profession successfully. so what make our successful transition possible?