Can channel pattern trading be profitably automated?

Financial markets, such as the global foreign exchange (FX) market, often exhibit trending behaviour. Within such trends, the market level oscillates with changes in market consensus. Continued oscillations of this type result in the formation of wave patterns within the underlying trend known as channels, which are used by technical analysts as trade entry signals. A sample space of such channels has been constructed from a set of US dollar/British pound Spot FX tick data from 1989–1997 using pattern recognition algorithms and the profitability of trading using such patterns has been estimated. A number of attributes of the resulting collection of channels has been subjected to statistical analysis with the aim of classifying patterns that can be traded profitably using a number of simple trading rules. Results of this analysis show that there exist statistically significant links between the channels' attributes and profitability.     

The behaviour of producer prices: evidence from French PPI micro data

This paper provides some new empirical findings for how French producers set prices. We used the micro data that composes the producer and business-service price indices from 1994 to 2005. First we address how producer prices are collected. Then we present the main characteristics of how producers change their prices: they are modified infrequently and in small amounts. Also, a behavioural heterogeneity across sectors is observed. Business-service prices change less often than industrial producer prices. The data corroborates both time and state-dependent model predictions. Taylor contracts are not unusual, but a firm’s prices will also react to its economic situation. Nevertheless, the most relevant models, to explain producer price rigidity, are time-dependent.

“The fact that some prices are rigid or sticky, while others are variable, has attracted a good deal of comments from economists in recent years” Tucker (1938)

This study was conducted in the context of the Eurosystem Inflation Persistence Network. Data were processed under the responsibility of INSEE in the context of an agreement between INSEE and the Banque de France (20B-21B-E301/R05019/2005).     

Stylised features of consumer price setting behaviour in Portugal: 1992–2001

This paper identifies the empirical stylized features of consumer price setting behavior in Portugal using two micro-datasets underlying the consumer price index. The main conclusions are: one in every four prices change each month; there is a considerable degree of heterogeneity in price setting practices; prices of goods change more often than prices of services; price reductions are common, as they account to around 40% of total price changes; price changes are, in general, sizeable; finally, the price setting patterns seem to depend on the level of inflation as well as on the type of outlet.

ETC中基于RFID的双标签汽车牌照自动识别系统研究

目的:设计适用于ETC中的汽车牌照自动识别系统。方法:分析原有ETC系统的工作原理和弊端与不足,提出了基于RFID双标签的汽车牌照识别系统。结果:从理论分析可以得出本文提出的方法可以有效的克服原有ETC系统中的问题———如牌照识别率太低和跟车干扰情况严重等。结论:本文提出的RFID双标签汽车牌照自动识别系统能有效克服原有ETC系统中的弊端和不足,有一定的实践应用价值。     

国际战略联合的成功之路

世界经济中的种种迹象表明,国际战略联合这一国际化经营的新方式正日益显示出其重要性,并终将成为拓展国际化经营活动的主要方式。作为国际化经营活动主角的跨国公司。     

经济政策不确定性如何影响企业出口决策？——基于出口频率的视角

出口频率作为出口决策的重要一环,是企业出口扩张的新边际,也是出口变化的“晴雨表”。本文在随机存货模型的基础上,考察了经济政策不确定性对企业出口频率的影响及其传导渠道,并采用2000-2006年工业企业数据库与海关数据库的匹配数据进行实证检验,结果发现:目的国经济政策不确定性增加会显著降低企业出口频率,且这一影响存在部分惯性效应;经济政策不确定性通过贸易成本、存货成本和市场需求波动共同影响企业出口频率的中介效应十分显著,其中贸易成本是最重要的传导渠道,占比达到19%以上;如果进一步考虑目的国、产品和企业异质性,会发现出口目的国经济发展水平较高、出口产品为中间品和消费品的企业,其出口频率受经济政策不确定性的影响较小。因此,政府和企业应高度关注出口频率的变化趋势,合理应对经济政策不确定性对出口决策的外部冲击。     

我国高被引作者群体属性研究

高被引作者是国家或地区最具影响力的科研群体,体现了国家或地区知识创新的制高点。利用中国引文数据库,对我国前100名高被引作者群体属性进行统计分析,并得出相应结果。从基本属性看,我国高被引作者平均发文量349篇,平均年龄64岁,集中于苏、浙、沪地区;从教育属性看,博士研究生已成为我国科技研究的主力军,且数量持续扩大,第一学历颁发单位较为分散,最后学历颁发单位较为集中;从研究领域看,自然科学仍占绝对优势;从流动性看,我国高被引作者流动性较好,但同时也存在一定程度的学术近亲繁殖现象;从职业属性看,绝大多数高被引作者集中在高校及科研院所,普遍缺少企业从业经历,且承担着较重的行政职务及较多的社会兼职。     

浅析日语拟声拟态词词类的转移及其活用

日语中把拟声拟态词归类于副词,属于副词的一部分,但在实际使用中它还可以转移为其它词性;同时,日语拟声拟态词不仅数量众多,而且表意细腻,是日语学习者在日语学习中的一个难点。     

Freedom of access to the radio spectrum for satellite communications

A conference will open on 8 August 1985 under ITU auspices to consider major procedural changes in the international regulation of the use of the radio spectrum by geostationary satellites. There has been strong pressure for the introduction of a priori orbit/ spectrum planning for, for example, the fixed-satellite service from countries which foresee that they may lose their option to set up domestic satellite networks under the present ptocedure. However, reform of the present procedures, rather than radical change, would give better assurance that the real needs of all countries will be met.