Citizen participation is often a goal of urban development. However, in reality levels of actual participation are often low, limited to certain sets of stakeholders, and the collaboration between them often poor. In engaging with this dilemma, we have established a new research project, Co-constructing city futures (3C), which addresses current challenges to citizen participation in contempora...

This paper investigates the forecasting ability of five different versions of GARCH models. The five GARCH models applied are bivariate GARCH, GARCH-ECM, BEKK GARCH, GARCH-X and GARCH-GJR. Forecast errors based on four emerging stock futures portfolio return (based on forecasted hedge ratio) forecasts are employed to evaluate out-ofsample forecasting ability of the five GARCH models. Daily data...

We use futures instead of forward rates to study the complete maturity spectrum of the forward premium puzzle from two days to six months. At short maturities the slope coefficient is positive, but these turn negative as the maturity increases to the monthly level. Futures data allow us to control for the influence of an unobserved factor that can be decomposed into a contract-specific and a ti...

Executive Summary For academic librarians seeking to demonstrate the value of their libraries to their parent institutions, it is important to understand not only the current climate. We must also know what will be valued in the future so that we can begin to take appropriate action now. This document presents 26 possible scenarios based on an implications assessment of current trends, which ma...

Integrated modelling and assessment can facilitate exploration of complex socialeecological interactions and quantify trade-offs in regional policy, planning, and management options. However, there have been challenges in its acceptance and adoption for supporting decisions. Here we overcome this implementation gap through the development of an interactive online tool called the Landscape Futur...

This paper considers a class of Heath-Jarrow-Morton (1992) term structure models, characterized by time deterministic volatilities for the instantaneous forward rate. The bias that arises from using observed futures yields as a proxy for the unobserved instantaneous forward rate is analyzed. The fact that futures contracts can be viewed as derivative instruments on the forward rate is used to d...

This article examines the impact of SGX MSCI Taiwan Index Futures on the volatility of the Taiwan stock market. The empirical work is conducted with the use of weekly stock returns from 1995 to 1998 and by applying an expanded EGARCH model. Our findings show that there is no structural change on either the conditional or the unconditional variance after the introduction of index futures contrac...

Increasingly, complex socio-technical public policy issues involve scientific uncertainty and even complete ignorance of phenomena. The lack of crisp description of uncertainties often leads to lack of trust by the general public, which in turn impedes solving serious public policy issues. One-sided ideas of ‘sound science’ that do not carefully describe uncertainties and degrees of unknowns al...

In this paper we study the possible role of managed futures in portfolios of stocks, bonds, and hedge funds. We find that allocating to managed futures allows investors to achieve a very substantial degree of overall risk reduction at, in terms of expected return, relatively limited costs. Apart from their lower expected return, managed futures appear to be more effective diversifiers than hedg...

As an important financial derivative tool, SIF (stock index futures) gets an indispensable effect in the stock market for investors, including hedging, discovering price and resisting risk. The transaction mode and regulations of SIF are subject to change due to rapid financial products innovation, especially in an emerging market. Therefore, in SIF transaction, one of the essential requirement...