Macroeconomic models of equity and exchange rate returns perform poorly at high frequencies. The proportion of daily returns that these models explain is essentially zero. Instead of relying on macroeconomic determinants, we model equity price and exchange rate behavior based on a concept from microstructure– order flow. The international order flows are derived from belief changes of different...

Liquidity, Return, and Order Flow Dynamics Linkages Between REITs and the Stock Market This paper explores liquidity and order flow spillovers across NYSE stocks and real estate investment trusts (REITs). Impulse response functions and Granger causality tests indicate the existence of persistent liquidity spillovers running from REITs to nonREITs. Specifically, REIT liquidity indicators are for...

BACKGROUND Theophylline is widely used in the treatment of asthma, and there is evidence that theophylline has anti-inflammatory or immunomodulatory effects. A study was undertaken to determine whether theophylline added to low dose inhaled steroids would be as efficacious as high dose inhaled steroids in asthma. METHODS In a study in general practice of 155 recruited asthmatic patients with ...

In this research, we carry out a study of the inhabitant flow using a large mobile phone data with location estimates from subscribers in Suffolk county, Massachusetts, USA that reveals the asymmetry in the flows, which reflects the way that people travel daily. People occasionally travel in a non-symmetrical way. For instance, they would take one route traveling from home to a destination and ...

This paper, taking a typical agricultural village in China as an example, explored the evolution process and characteristics of rural population flows, capital flows information since reform opening up 1978, using social survey spatial analysis. The daily mobility constantly increased around township central village. volume was increased. income residents mainly came from village, consumption c...

Hydrologic data has traditionally been collected with permanent installations of sophisticated and accurate but expensive monitoring equipment at limited numbers of sites. Consequently, observation frequency and costs are high, but spatial coverage of the data is limited. Citizen Hydrology can possibly overcome these challenges by leveraging easily scaled mobile technology and local residents t...

analysis of non-laminar flows in coarse alluvial beds has a wide range of applications in various civil engineering, oil and gas, and geology problems. darcy equation is not valid to analyze transient and turbulent flows, so non-linear equations should be applied. non-linear equations are classified into power and binomial equations. binomial equation is more accurate in a wide range of velocit...