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Efficient Estimation of Volatility using High Frequency Data Gilles Zumbach1 , Fulvio Corsi2, and Adrian Trapletti3 Olsen & Associates Research Institute for Applied Economics Seefeldstrasse 233, 8008 Z¨ rich, Switzerland. u phone: +41-1/386 48 48 Fax: +41-1/422 22 82 February 21, 2002 Keywords: volatility estimators, high-frequency data, incoherent price formation, daily volatility. Abstract The limitations of volatilities computed with daily data as well as simple statistical considerations

was used to measure the short- and long-term elasticities of price and income. It was found that income elasticity was very high, while price was not especially significant. In addition, the repeat factor and several catastrophic events were found to be important in determining demand. These results led to a discussion of the theoretical implications regarding the economic and cultural underpinnings of Japanese tourism demand. Key words: tourism demand, econometric, error correction model, Guam, elasticities

VERBES A OUBLIER UN PEU 1. have 2. change 3. know 4. consider 5. create 6. say 7. try 8. exist 9. think 10. want tableau comparatif : avoir = souffrir de ils ont le sida = they have Aids avoir=obtenir j'ai eu ce livre par un ami= I got this book through a friend of mine avoir( forme,dimension) =be cette voiture a une drole de forme= this car is a funny shape avoir=il y a =there is/are il y a environ 2 kilomètres jusqu'au lycée =it is

region, will I have to provide (with my scouts) full coverage of the 1st, 2nd and 3rd soccer leagues? Or just try to cover as much games as possible? Answer: As a supervisor you will help us recruiting and organizing a scout network in certain regions to be able to cover as much games as possible. Please keep in mind that we will never guarantee an exclusive coverage, we always need two sources for each match. Question: The payment procedure for Supervisor is not clear to me. How does it work? Answer:

“Publications” at http://www.authenticityconsulting.com Establish the Project Team At this point, it will be useful to form a project team. The team members can be an invaluable asset to you. They will act as a liaison between the project and the rest of your client’s organization. “Job Description” for the Project Team The “job description” for the team might be to work with you to: 1. Customize plans and activities during upcoming phases in the consulting cycle. Team members could give you

The Robert Gordon University Aberdeen Business School Ethics and the Consumer Coursework | Session: 2009/2010 Semester: 1 Module Number: BS3136 CW 1 Module Co-ord:Neil Connon | | | | 2074 words | 20/11/2009 | | Ethic CW Intro In a world where globalization seems to be everywhere, emerge some notions as ethics, consumer policy, involving government and others organizations. The aim of that is finally the well-being of people, more precisely, consumers. The

counterpart, follow these helpful tips for understanding the corporate culture in France. 1 Schedule meetings and appointments at least two weeks in advance. Many meetings take place over a meal, and lunch is a good time of day to schedule an appointment. Your first point of contact will most often be the secretary. 2 Be punctual. The French have a more formal society based on class and title. If you are going to be late for an appointment or meeting, a phone call is required to inform as to the reason

Does your secretary rank higher than mine? 1) The real problem of Garett’s point of view is that all the secretaries are doing in facts more than a job of a classic secretary. Indeed, they are doing a lot of additional tasks, so that their real position is not anymore “secretary”, but much more than that: they are doing quasi-management tasks. Garett told to Elizabeth that “she wouldn’t want to see his secretary rated at a lower grade than vice president of operations’ secretary” because he knows

Séquence 1 Fighting for a good cause Sommaire Objectifs de la séquence 1. Listen to get informed 2. Observe and spot the problem 3. Listen to get informed 4. Get ready to express yourself orally 5. Listen to get informed 6. Read to develop a new point of view and react Copyright Stichting Greenpeace Council Dans cette séquence de cours, vous allez devoir choisir une grande cause et la défendre. Pour cela, des exemples de causes vous seront proposés dans des documents variés (textes, images

it’s really a great pleasure for me to be with you tonight. Ok, before I start my presentation, would you allow me guys to ask these ladies one question? Right, so ladies: among all the fundamental rights that shall be recognized to women, which one, according to you, is unfortunately and still shamefully prohibited in Madagascar. Yes/No(Ok, it’s the abortion and it’s actually the focus of my presentation today. In fact, I firmly believe that abortion should be made legal in Madagascar! Introduction: