Fact And Fiction In FX Arbitrage Processes

The efficient markets hypothesis implies that arbitrage opportunities in markets such as those for foreign exchange (FX) would be, at most, short-lived. The present paper surveys the fragmented nature of FX markets, revealing that information in these markets is also likely to be fragmented. The “quant” workforce in the hedge fund featured in The Fear Index novel by Robert Harris would have little or no reason for their existence in an EMH world. The four currency combinatorial analysis of arbitrage sequences contained in Cross, Kozyakin, O’Callaghan, Pokrovskii and Pokrovskiy (2012) is then considered. Their results suggest that arbitrage processes, rather than being self-extinguishing, tend to be periodic in nature. This helps explain the fact that arbitrage dealing tends to be endemic in FX markets.

Fact And Fictions In FX Arbitrage Processes

The efficient markets hypothesis implies that arbitrage opportunities in markets such as those for foreign exchange (FX) would be, at most, short-lived. The present paper surveys the fragmented nature of FX markets, revealing that information in these markets is also likely to be fragmented. The “quant” workforce in the hedge fund featured in The Fear Index novel by Robert Harris would have little or no reason for their existence in an EMH world. The four currency combinatorial analysis of arbitrage sequences contained in Cross, Kozyakin, O’Callaghan, Pokrovskii and Pokrovskiy (2012) is then considered. Their results suggest that arbitrage processes, rather than being self-extinguishing, tend to be periodic in nature. This helps explain the fact that arbitrage dealing tends to be endemic in FX markets.

EAACI Position Paper: prevention of work-related respiratory allergies among pre-apprentices or apprentices and young workers.

ABSTRACT: Apprenticeship is a period of increased risk of developing work-related respiratory allergic diseases. There is a need for documents to provide appropriate professional advice to young adults aiming to reduce unsuitable job choices and prevent impairment from their careers. The present document is the result of a consensus reached by a panel of experts from European and non-European countries addressed to allergologists, pneumologists, occupational physicians, primary care physicians, and other specialists interested in this field, which aims to reduce work-related respiratory allergies (rhinoconjunctivitis and asthma) among allergic or nonallergic apprentices and other young adults entering the workforce. The main objective of the document is to issue consensus suggestions for good clinical practice based on existing scientific evidence and the expertise of a panel of physicians.

Mentoring, educational services, and economic incentives longer-term evidence on risky behaviors from a randomized trial

This paper is the first to use a randomized trial in the US to analyze the short- and long- term impacts of an afterschool program that offered disadvantaged high-school youth: mentoring, educational services, and financial rewards to attend program activities, complete high-school and enroll in post-secondary education on youths' engagement in risky behaviors, such as substance abuse, criminal activity, and teenage childbearing. Outcomes were measured at three different points in time, when youths were in their late-teens, and when they were in their early- and their latetwenties. Overall the program was unsuccessful at reducing risky behaviors. Heterogeneity matters in that perverse effects are concentrated among certain subgroups, such as males, older youths, and youths from sites where youths received higher amount of stipends. We claim that this evidence is consistent with different models of youths' behavioral response to economic incentives. In addition, beneficial effects found in those sites in which QOP youths represented a large fraction of the entering class of 9th graders provides hope for these type of programs when operated in small communities and supports the hypothesis of peer effects.

Adolescent's suicide attempts: populations at risk, vulnerability, and substance use.

Adolescence corresponds to a transition period that requires adaptation and change capacities and skills. Most young people succeed with this challenge, whereas a minority fail. In order to identify with the teenage culture, become autonomous, and differentiate from their parents, some adolescents choose to use drugs, beginning with the use of cigarettes, alcohol, cannabis, followed by other illicit drugs such as opiates and stimulants. A high proportion of these adolescents attempt suicide, which is the primary cause of death during adolescence in many European countries. Who are the "vulnerable" adolescents? What are the mechanisms that can explain the varieties of drug-use initiation or suicide attempts? Can "protective factors" be identified? What kind of strategies might be developed at a social and political level in order to prevent or to minimize drug abuse and suicide attempts, among other harmful behaviors? These issues will be discussed on the basis of the recent literature and in the light of a recent study carried out in the French-speaking part of Switzerland on large cohorts of adolescent drug users. Unresolved critical issues are noted and future needed research is suggested.

Do Legal Immigrants and Natives Compete in the Labour Market? Evidence from Catalonia

The precondition for labour-market competition between immigrants and natives is that both are willing to accept jobs that do not differ in quality. To test this hypothesis, in this paper we compare the working conditions between immigrants and natives in Catalonia. Comparing immigrants’ working conditions in relation to their native counterparts is not only a useful analysis for studying the extent to which immigrants and low-skilled native workers are direct competitors in the labour market, but also allows us to contribute to the literature on this issue by moving away from the conventional approach used in previous studies. Our results indicate that: i) natives and immigrants display a different taste for job (dis)amenities; ii) Catalan-born workers might be in direct competition with EU15 immigrants, while non-Catalan Spanish workers might be competing with Latin American immigrants, and; iii) African-born immigrants are the group in the Catalan workforce that by far face the worst working conditions.

A Strategy for Maternity Care in Northern Ireland 2012-2012 (PDF 634KB)

DHSSPS has carried out a review of policy on maternity service provision in Northern Ireland. The review focused on the best available evidence for the care and treatment of mothers-to-be; quality, safety and service sustainability; wider workforce issues; and professional roles and responsibilities. As a result, a draft strategy was developed, which was the subject of a public consultation from 28 September 2011 to 23 January 2012. Following an analysis of the responses to the consultation, the final strategy, A Strategy for Maternity Care in Northern Ireland 2012-2018, was published on 2 July 2012.

Inequalities Monitoring Update Second Bulletin 2007 (PDF 1952 KB)

Despite some relative improvements, there is a continuing health gap between the most deprived areas and NI overall. This is most evident in the potential years of life lost, infant mortality rates, teenage births, standardised admission rates to hospitals and cancer incidence rates indicators. The suicide rate within deprived areas, although still considerably higher (almost 50% higher), is now closer to the overall NI rate. Despite the reduction in the inequality gap, there was a recent increase in the number of deaths attributed to suicide across all areas. The extent to which this increase in suicides actually indicates an increase in the problem or it is due to recording/reporting practices changing over time has not been established. Life expectancy has been increasing in recent years for both males and females in both deprived areas and NI overall and there is no evidence of a narrowing of the inequality gap. The gap between deprived areas and Northern Ireland was maintained for circulatory and respiratory standardised death rates. The gap between the proportion of the deprived population suffering from a mood or anxiety disorder and that in NI overall has also remained fairly steady. Deprived areas actually fared better than NI generally for relative hospital waiting times and ambulance response times (although this may be an urban issue). åÊ

New Strategic Direction for Alcohol and Drugs (2006-2011) (Online Publication)

Executive Summary and Strategy Document (May 2006) The New Strategic Direction has a set of overarching long-term aims to: • Provide accessible and effective treatment and support for people who are consuming alcohol and/or using drugs in a potentially hazardous, harmful or dependent way. • Reduce the level, breadth and depth of alcohol and drug-related harm to users, their families and/or their carers and the wider community. • Increase awareness on all aspects of alcohol and drug-related harm in all settings and for all age groups. • Integrate those policies which contribute to the reduction of alcohol and drug-related harm into all Government Department strategies. • Develop a competent skilled workforce across all sectors that can respond to the complexities of alcohol and drug use and misuse. • Promote opportunities for those under the age of 18 years to develop appropriate skills, attitudes and behaviours to enable them to resist societal pressures to drink alcohol and/or use illicit drugs, with a particular emphasis on those identified as potentially vulnerable. • Reduce the availability of illicit drugs in Northern Ireland åÊ

New Strategic Direction for Alcohol and Drugs (2006-2011) Executive Summary

Executive Summary and Strategy Document (May 2006) The New Strategic Direction has a set of overarching long-term aims to: • Provide accessible and effective treatment and support for people who are consuming alcohol and/or using drugs in a potentially hazardous, harmful or dependent way. • Reduce the level, breadth and depth of alcohol and drug-related harm to users, their families and/or their carers and the wider community. • Increase awareness on all aspects of alcohol and drug-related harm in all settings and for all age groups. • Integrate those policies which contribute to the reduction of alcohol and drug-related harm into all Government Department strategies. • Develop a competent skilled workforce across all sectors that can respond to the complexities of alcohol and drug use and misuse. • Promote opportunities for those under the age of 18 years to develop appropriate skills, attitudes and behaviours to enable them to resist societal pressures to drink alcohol and/or use illicit drugs, with a particular emphasis on those identified as potentially vulnerable. • Reduce the availability of illicit drugs in Northern Ireland

Review of Occupational Health Services in the HPSS (PDF 387 KB)

Supporting a Healthy Workforce

Radiography Review January 2004 (PDF 55 KB)

Workforce Planning Review 2

Occupational Therapy Review January 2004 (PDF 55 KB)

Workforce Planning Review

Technical and Scientific Review August 2003 (PDF 317 KB)

Workforce Planning Review

Dental Review August 2003 (PDF 344 KB)

Workforce Planning Review August 2003