897 resultados para Implied terms


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Les moteurs de recherche font partie de notre vie quotidienne. Actuellement, plus d’un tiers de la population mondiale utilise l’Internet. Les moteurs de recherche leur permettent de trouver rapidement les informations ou les produits qu'ils veulent. La recherche d'information (IR) est le fondement de moteurs de recherche modernes. Les approches traditionnelles de recherche d'information supposent que les termes d'indexation sont indépendants. Pourtant, les termes qui apparaissent dans le même contexte sont souvent dépendants. L’absence de la prise en compte de ces dépendances est une des causes de l’introduction de bruit dans le résultat (résultat non pertinents). Certaines études ont proposé d’intégrer certains types de dépendance, tels que la proximité, la cooccurrence, la contiguïté et de la dépendance grammaticale. Dans la plupart des cas, les modèles de dépendance sont construits séparément et ensuite combinés avec le modèle traditionnel de mots avec une importance constante. Par conséquent, ils ne peuvent pas capturer correctement la dépendance variable et la force de dépendance. Par exemple, la dépendance entre les mots adjacents "Black Friday" est plus importante que celle entre les mots "road constructions". Dans cette thèse, nous étudions différentes approches pour capturer les relations des termes et de leurs forces de dépendance. Nous avons proposé des méthodes suivantes: ─ Nous réexaminons l'approche de combinaison en utilisant différentes unités d'indexation pour la RI monolingue en chinois et la RI translinguistique entre anglais et chinois. En plus d’utiliser des mots, nous étudions la possibilité d'utiliser bi-gramme et uni-gramme comme unité de traduction pour le chinois. Plusieurs modèles de traduction sont construits pour traduire des mots anglais en uni-grammes, bi-grammes et mots chinois avec un corpus parallèle. Une requête en anglais est ensuite traduite de plusieurs façons, et un score classement est produit avec chaque traduction. Le score final de classement combine tous ces types de traduction. Nous considérons la dépendance entre les termes en utilisant la théorie d’évidence de Dempster-Shafer. Une occurrence d'un fragment de texte (de plusieurs mots) dans un document est considérée comme représentant l'ensemble de tous les termes constituants. La probabilité est assignée à un tel ensemble de termes plutôt qu’a chaque terme individuel. Au moment d’évaluation de requête, cette probabilité est redistribuée aux termes de la requête si ces derniers sont différents. Cette approche nous permet d'intégrer les relations de dépendance entre les termes. Nous proposons un modèle discriminant pour intégrer les différentes types de dépendance selon leur force et leur utilité pour la RI. Notamment, nous considérons la dépendance de contiguïté et de cooccurrence à de différentes distances, c’est-à-dire les bi-grammes et les paires de termes dans une fenêtre de 2, 4, 8 et 16 mots. Le poids d’un bi-gramme ou d’une paire de termes dépendants est déterminé selon un ensemble des caractères, en utilisant la régression SVM. Toutes les méthodes proposées sont évaluées sur plusieurs collections en anglais et/ou chinois, et les résultats expérimentaux montrent que ces méthodes produisent des améliorations substantielles sur l'état de l'art.

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This chapter will provide you with the some of the information you may need to make information on decisions in cases such as the one given above. In particular it will help you answer questions such as: 1. As Molly and Vikram are approaching the end of their shift, to attend will force them into overtime; could they refuse to attend the job on the basis of the refusal to do overtime outside of contracted hours? 2. Would their refusal be viewed as a breach of contract and therefore a disciplinary issue? 3. Why? 4. Does the need to attend this possibly gravely ill patient outweigh the demands of the paramedics to finish on time?

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"Mémoire présenté à la Faculté des études supérieures en vue de l'obtention du grade de Maîtrise en droit (LL.M.)". Ce mémoire a été accepté à l'unanimité et classé parmi les 15% des mémoires de la discipline.

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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

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Modeling and forecasting of implied volatility (IV) is important to both practitioners and academics, especially in trading, pricing, hedging, and risk management activities, all of which require an accurate volatility. However, it has become challenging since the 1987 stock market crash, as implied volatilities (IVs) recovered from stock index options present two patterns: volatility smirk(skew) and volatility term-structure, if the two are examined at the same time, presents a rich implied volatility surface (IVS). This implies that the assumptions behind the Black-Scholes (1973) model do not hold empirically, as asset prices are mostly influenced by many underlying risk factors. This thesis, consists of four essays, is modeling and forecasting implied volatility in the presence of options markets’ empirical regularities. The first essay is modeling the dynamics IVS, it extends the Dumas, Fleming and Whaley (DFW) (1998) framework; for instance, using moneyness in the implied forward price and OTM put-call options on the FTSE100 index, a nonlinear optimization is used to estimate different models and thereby produce rich, smooth IVSs. Here, the constant-volatility model fails to explain the variations in the rich IVS. Next, it is found that three factors can explain about 69-88% of the variance in the IVS. Of this, on average, 56% is explained by the level factor, 15% by the term-structure factor, and the additional 7% by the jump-fear factor. The second essay proposes a quantile regression model for modeling contemporaneous asymmetric return-volatility relationship, which is the generalization of Hibbert et al. (2008) model. The results show strong negative asymmetric return-volatility relationship at various quantiles of IV distributions, it is monotonically increasing when moving from the median quantile to the uppermost quantile (i.e., 95%); therefore, OLS underestimates this relationship at upper quantiles. Additionally, the asymmetric relationship is more pronounced with the smirk (skew) adjusted volatility index measure in comparison to the old volatility index measure. Nonetheless, the volatility indices are ranked in terms of asymmetric volatility as follows: VIX, VSTOXX, VDAX, and VXN. The third essay examines the information content of the new-VDAX volatility index to forecast daily Value-at-Risk (VaR) estimates and compares its VaR forecasts with the forecasts of the Filtered Historical Simulation and RiskMetrics. All daily VaR models are then backtested from 1992-2009 using unconditional, independence, conditional coverage, and quadratic-score tests. It is found that the VDAX subsumes almost all information required for the volatility of daily VaR forecasts for a portfolio of the DAX30 index; implied-VaR models outperform all other VaR models. The fourth essay models the risk factors driving the swaption IVs. It is found that three factors can explain 94-97% of the variation in each of the EUR, USD, and GBP swaption IVs. There are significant linkages across factors, and bi-directional causality is at work between the factors implied by EUR and USD swaption IVs. Furthermore, the factors implied by EUR and USD IVs respond to each others’ shocks; however, surprisingly, GBP does not affect them. Second, the string market model calibration results show it can efficiently reproduce (or forecast) the volatility surface for each of the swaptions markets.

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In this paper we apply GMM estimation to assess the relevance of domestic versus external determinants of CPI inflation dynamics in a sample of OECD countries typically classified as open economies. The analysis is based on a variant of the small open-economy New Keynesian Phillips Curve derived in Galí and Monacelli (Rev Econ Stud 72:707–734, 2005), where the novel feature is that expectations about fluctuations in the terms of trade enter explicitly. For most countries in our sample the expected relative change in the terms of trade emerges as the more relevant inflation driver than the contemporaneous domestic output gap.

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This research investigates the prevalence of sports-related terms among the Web sites of the world’s leading companies, the Fortune Global 500. An automated process copied about four gigabytes of textual data, around 70 million words, from their sites. The subsequent analysis revealed regional and industry differences in the distribution of sports-related terms, the popularity of tennis stars and few references to sports stars, especially in Asia.

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By way of response to Professor Duncan's article,1 this article examines the theoretical basis for the implication of contractual terms, particularly the implication of a term at law. In this regard the recent decision of Barrett J in Overlook v Foxtel [2002] NSWSC 17 is considered, to the extent that it provides guidance concerning the implication of an obligation of good faith in the context of a commercial contract. A number of observations are made which may be considered likely to have application to the relationship of commercial landlord and tenant. The conclusion reached is that although the commercial landlord and tenant contractual relationship is highly regulated, this may not deny a remedy to a tenant who is the victim of a landlord's 'bad faith'. Finally, the article concludes by considering the extent to which it may be possible to contractually exclude the implied obligation of good faith.

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In the policy debate about the need for legislation to prohibit the use of unfair terms in consumer contracts, substantive unfairness is often distinguished from procedural unfairness. Current consumer protection laws appear to offer the potential for relief on substantive unfairness grounds alone. However, a review of cases involving credit contracts shows this potential is rarely realised. This reluctance to provide relief for substantive injustice reflects a preoccupation with freedom and certainty of contract, the notions underpinning classical contract theories. As a class, consumers are vulnerable in the marketplace, and they do need protection from substantively unfair terms. A new framework for regulating consumer contracts is needed, one that relies less on classical contract theories and takes the reality of consumer contracting and consumer behavior as its starting point. Unfair contract terms legislation will be a step on the path towards this new framework.