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This book presents a systematic application of recent advances in artificial intelligence (AI) to the problem of asset management. While natural language processing and text mining techniques, such as semantic representation, sentiment analysis, entity extraction, commonsense reasoning, and fact checking have been evolving for decades, finance theories have not yet fully considered and adapted to these ideas. In this unique, readable volume, the authors discuss integrating textual knowledge and market sentiment step-by-step, offering readers new insights into the most popular portfolio optimization theories: the Markowitz model and the Black-Litterman model. The authors also provide valuable visions of how AI technology-based infrastructures could cut the cost of and automate wealth management procedures. This inspiring book is a must-read for researchers and bankers interested in cutting-edge AI applications in finance.
Economics has been dubbed the “dismal science” since Thomas Carlyle coined the phrase in 1849. The 2008 presidential candidate who said, “Economics is something that I’ve really never understood,” probably sides with this view. So, why is economics so dismal to so many? Is it because it has become too mathematical? Is it because traditional textbooks fail to connect topics and models in a concise, cohesive, and meaningful way? Is it because the computer simulations that are used to teach economic principles “stifle students’ imagination, contribute to a dependent learning style, and fail to stimulate interest in the subject matter” (Wetzstein 1988)? Or, is it because economis...
Over the last two years with the strain of coronavirus having a devastating effect on the world’s healthcare system and triggering a global "lockdown", one question that has emerged; What, or which infectious disease is going to hit us next? Many infectious diseases prevalent in humans and animals are caused by pathogens that once emerged from other animal hosts. In addition to these established or re-emerging infections, new infectious diseases periodically emerge. In extreme cases they may lead to pandemics as we currently are seeing. The increased urbanization and globalization of the world order with faster connectivity and traveling has further in-creased the risk factors for emerging...
Macroeconomics is the study of the economy as a whole and of work and saving choices of individual economic agents from which macroeconomic activity emerges. This book takes an integrative approach to that topic, showing how short-run and long-run forces operate simultaneously to determine the behavior of key economic indicators such as employment and real, inflation-adjusted GDP. The first goal of macroeconomic policy is to bring real GDP into line with the maximum attainable potential real GDP—the level of real GDP at which there are enough jobs to provide employment for every person who wants to work and at which government has done all it can to eliminate disincentives for workers to s...
One of the pathways by which the scientific community confirms the validity of a new scientific discovery is by repeating the research that produced it. When a scientific effort fails to independently confirm the computations or results of a previous study, some fear that it may be a symptom of a lack of rigor in science, while others argue that such an observed inconsistency can be an important precursor to new discovery. Concerns about reproducibility and replicability have been expressed in both scientific and popular media. As these concerns came to light, Congress requested that the National Academies of Sciences, Engineering, and Medicine conduct a study to assess the extent of issues ...
Sustainable capitalism is more than a response to the environmental crisis. In this book, the authors propose a new conceptual business model as a contribution to global sustainable capitalism in the making, in an attempt assist in the education of global stakeholders about the importance, the rationale, and the pathway to the introduction of sustainable capitalism principles into global economics and business models.
Regression analysis can be used to establish causal relationships between factors and the response variable. However, in order to be able to do so, economic theory must be used to provide the causal relationship and then regression analysis is applied to verify the validity of the theory. Regression analysis is the most commonly used analytical tool and can be understood without complex mathematics. This book simplifies and demystifies regression analysis. All the examples are from economics and in almost all the cases, real data is used to show the application of the method. By limiting the use of mathematical symbols, the author enables a logical reader to learn regression, without shortchanging the subject. The book is targeted to all business students and executives who need to understand the concept of regression for practical and professional purposes.
Goncalves and Alves’ work is a very interesting and promising book for the development themes of emerging markets. The style and quality of the material is worthy of respect, providing a clear analysis of the internation-al markets and global development of various economic and commercial relations and trading routes. —Yurii Pozniak, International Management Consultant at Ukroboronservis, Kiev, Ukraine. Emerging and Frontier Markets: The New Frontline for Global Trade brings together a collection of insights and a new outlook of the dynamics happening between the emerging and the advanced markets. The book pro-vides also an excellent, easy to read and straight-to-the point economic and political description of the MENA, BRICS, ASEAN, and CIVETS markets. A description that should interest every person willing to invest, work or just acquire a deep understanding of the emerging markets economic and political conditions. —Réda Massoudi, BU Director Management and Transformation Consulting, LMS Organization & Human Resources. Casa-blanca, Morocco.
In an increasingly interdependent global economy, an understanding of foreign exchange markets is more critical than ever. These markets are inextricably entwined with underlying monetary standards and consequently they are treated conjointly in this book. Four different foreign exchange rate regimes are analyzed including exchange rates under commodity money, fiduciary money, fiat money (with fixed exchange rates), and fiat money (with flexible exchange rates). For more than eight decades, most ountries have operated with fiat money. Proponents maintain that fiat money provides individual countries with much greater monetary autonomy. Yet both analytics and experience indicate that this is ...
Like Advanced Economies and Emerging Markets, the 'flagship' book of the series, from which this book is derived Doing Business in Emerging Markets recognizes that there is intense competition among emerging markets to capture their share of the global economy. The series addresses questions that are germane to accomplishing this goal. Most important to this end is the study and practice of international business and foreign trade. Undertaking such a study raises many questions which the series will attempt to answer: Why are emerging markets and the firms doing business in them internationalizing so aggressively; and why in the past decade has the pace of internationalization accelerated so rapidly? What competitive advantages do these emerging economies enjoy in comparison to advanced economies, such as the G20, and what are the origins of those advantages? This volume is devoted to presenting the practical aspects and challenges of doing business in global emerging markets.