by Chong Chiu Ming, Logan. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1988. / Bibliography: leaves 52-53.

This thesis consists of two related parts. In the first part we conduct an empirical examination of the dynamics of Australian interest rates of six different maturities, covering the whole yield curve. This direct study of the long rates is quite novel. We use maximum likelihood estimation on a variety of models and find some results that are in stark contrast to previous studies. We estimate Poisson-jump diffusion (PJD) models and find very strong evidence for the existence of jumps in all daily interest rate series. We find that the PJD model fits short-rate data significantly better than a Bernoulli-jump diffusion model. We also estimate the CKLS model for our data and find that the only model not rejected for all six maturities is the CEV model in stark contrast to previous findings. Also, we find that the elasticity of variance estimate in the CKLS model is much higher for the short-rates than for the longer rates where the estimate is only about 0.25, indicating that different dynamics seem to be at work for different maturities. We also found that adding jumps to the simple diffusion model gives a larger improvement than comes from going from the simple diffusion to the CKLS model. In the second part of the thesis we examine the Flesaker and Hughston (FH) term structure model. We derive the dynamics of the short rate under both the original measure and the risk-neutral measure, and show that some criticisms of the bounds for the short rate may not be significant in actual applications. We also derive the dynamics of bond prices in the FH model and compare them to the HJM model. We also extend the FH model by allowing the martingale to follow a jump-diffusion process, rather than just a diffusion process. We derive the unique change of measure that guarantees the family of bond prices is arbitrage-free. We derive prices for caps and swaptions, and extend the results to include Bermudan swaptions and show how to price options with the jump-diffusion version of the FH model.

Thesis (Ph. D.)--State University of New York at Binghamton, Department of Economics, 2005. / Includes bibliographical references (leaves 280-289).

Thesis (M. Soc. Sc.)--University of Hong Kong, 1986.

Urban and regional planning, from a professional standpoint, is built on a history of preservation, with the backdrop of a perennial quest to define itself for the benefit of both laypeople and its own members. Consequently, different stages of planning throughout the twentieth century relate to simultaneous cultural changes that have caused the re-definition and re-focusing of professional efforts. From the original concentration on rational thought that coincided with the planner as objective expert with the ability to identify and promote the public interest, to the civil rights movement of the late twentieth century that embodied postmodern ideas such as advocacy, collaboration, and communication, the concept of who the planner is and what role he or she plays has developed over time. In parallel, the structures planners use to deliver their services have altered. While the shift from the traditional concept of the public sector to quasi-public and private applications has been well documented, the structures of the twenty-first century such as multinationals, public-private partnerships, and multi-disciplinary arrangements are less studied and understood. Multi-disciplinary practices (MDPs), in particular, garner little attention from the academic or professional planning spheres. While the legal and accounting professions are scrambling for a clear policy direction on cross-discipline collaboration, planners do not seem to have diverted much attention to whether or not they have a future. Indeed, the existence of MDPs provokes the return of the question of what role planners should play, and whether they should be a distinct specialized profession, or an entity with a mandate to coordinate other professions with an eye to long-term planning for the public good. This analysis attempts to qualitatively assess whether MDPs should be supported or rejected by the planning discipline, and how the profession should be addressing the answer. / Thesis (Master, Urban & Regional Planning) -- Queen's University, 2007-09-28 11:25:12.401

Using a mixed-method design, the purpose of this research was to understand interest in the elementary science classroom as affected by different teaching methods. Of particular concern was the state of interest in junior level (Grades 4-6) science classrooms. Research conducted on science interest and attitudes toward science has identified significant declines in student interest and engagement across grade levels. To remedy these concerns, it has become imperative that researchers and science educators gain a greater understanding of the growing literature in the field of interest and how this research might improve student engagement, especially at the elementary level. Questionnaires were administered to 178 students from Grades 4-6 measuring their individual interest in science, the frequency at which they were exposed to different teaching methods in science, and the level of interest they held for each instructional approach in science class. In addition, student interviews were conducted with six students from both genders representing each grade to better understand what makes for interesting and effective teaching of science in the eyes of the students. The quantitative and qualitative components yielded largely similar findings. Results indicated that passive learning tasks, such as written work and note taking, became less popular as grade level increased, that female students maintained a greater interest in passive learning tasks than males, and that passive learning tasks had the greatest impact on predicting student interest in science. Furthermore, students reported that they were best engaged by instructional strategies that were characterized by experimentation, cooperation, relevance, and novelty. These results were used to shed light on previous research in the field, and to suggest directions for future research and practice. / Thesis (Master, Education) -- Queen's University, 2009-04-09 11:04:44.967

This thesis is about the causal relationship between interest rates. In chapter 1, with the help of time-series econometrics and by applying linear Granger causality tests based on the Toda-Yamamoto approach, the linear causality directions between the federal funds rate and five different interest rates during the last seven business cycles in the U.S. are investigated. We also examine the linear Granger causality directions between the overnight rate and five other interest rates during the last three business cycles in Canada. In chapter 2, the Diks and Panchenko Granger causality test is applied to explore the nonlinear causality effects between the short-term and long-term interest rates. By combining nonlinear causality effects with the linear ones which are found in the first chapter, it is seen that during the related periods in the U.S. and Canada, the most common Granger causality direction between short-term and long-term interest rates is a bidirectional one. Moreover, our findings show that during recent periods, the federal funds rate and overnight rate Granger cause other interest rates significantly. In chapter 3, the rolling window strategy is employed to detect the linear and nonlinear Granger causality relationship between the federal funds rate and the 10-year government bond rate, during different time horizons, investigating whether these causalities change with the passing of time. Our findings show that during different time horizons, there is a significant two-way Granger causality relationship between these interest rates. Although we have a different interpretation of the existence of bidirectional causation between short-term and long-term interest rates, this conclusion provides some support to some post-Keynesian structuralists viewpoints like Pollin (2008). However, Pollin's claim indicating that with the passing of time the significant causality effects of the federal funds rate to the market rates becomes insignificant is not supported by the current thesis findings because our results demonstrate that these causality effects have not been diminishing over the most recent business cycles.

This thesis consists of two related parts. In the first part we conduct an empirical examination of the dynamics of Australian interest rates of six different maturities, covering the whole yield curve. This direct study of the long rates is quite novel. We use maximum likelihood estimation on a variety of models and find some results that are in stark contrast to previous studies. We estimate Poisson-jump diffusion (PJD) models and find very strong evidence for the existence of jumps in all daily interest rate series. We find that the PJD model fits short-rate data significantly better than a Bernoulli-jump diffusion model. We also estimate the CKLS model for our data and find that the only model not rejected for all six maturities is the CEV model in stark contrast to previous findings. Also, we find that the elasticity of variance estimate in the CKLS model is much higher for the short-rates than for the longer rates where the estimate is only about 0.25, indicating that different dynamics seem to be at work for different maturities. We also found that adding jumps to the simple diffusion model gives a larger improvement than comes from going from the simple diffusion to the CKLS model. In the second part of the thesis we examine the Flesaker and Hughston (FH) term structure model. We derive the dynamics of the short rate under both the original measure and the risk-neutral measure, and show that some criticisms of the bounds for the short rate may not be significant in actual applications. We also derive the dynamics of bond prices in the FH model and compare them to the HJM model. We also extend the FH model by allowing the martingale to follow a jump-diffusion process, rather than just a diffusion process. We derive the unique change of measure that guarantees the family of bond prices is arbitrage-free. We derive prices for caps and swaptions, and extend the results to include Bermudan swaptions and show how to price options with the jump-diffusion version of the FH model.

Thesis (M.B.A.)--University of Hong Kong, 1998. / Includes bibliographical references (leaf 64-66).

Thesis (M.B.A.)--University of Hong Kong, 1995. / Includes bibliographical references (leaves 124-125).