Fabio Fornari's Books

Stochastic Volatility in Financial Markets

Crossing the Bridge to Continuous Time

By: Antonio Mele,Fabio Fornari

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Stochastic Volatility in Financial Markets

Crossing the Bridge to Continuous Time

By: Antonio Mele,Fabio Fornari

Stochastic Volatility in Financial Markets presents advanced topics in financial econometrics and theoretical finance, and is divided into three main parts. The first part aims at documenting an empirical regularity of financial price changes: the occurrence of sudden and persistent changes of financial markets volatility. This phenomenon, technically termed `stochastic volatility', or `conditional heteroskedasticity', has been well known for at least 20 years; in this part, further, useful theoretical properties of conditionally heteroskedastic models are uncovered. The second part goes beyond the statistical aspects of stochastic volatility models: it constructs and uses new fully articulated, theoretically-sounded financial asset pricing models that allow for the presence of conditional heteroskedasticity. The third part shows how the inclusion of the statistical aspects of stochastic volatility in a rigorous economic scheme can be faced from an empirical standpoint.

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156

Publisher

Springer Science & Business Media

Published Date

ISBN 10

1461545331

ISBN 13

9781461545330

The Role of Financial Variables in Predicting Economic Activity in the Euro Area

By: Mr.Raphael A. Espinoza,Fabio Fornari,Marco Lombardi

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The Role of Financial Variables in Predicting Economic Activity in the Euro Area

By: Mr.Raphael A. Espinoza,Fabio Fornari,Marco Lombardi

The U.S. business cycle typically leads the European cycle by a few quarters and this can be used to forecast euro area GDP. We investigate whether financial variables carry additional information. We use vector autoregressions (VARs) which include the U.S. and the euro area GDPs as a minimal set of variables as well as growth in the Rest of the World (an aggregation of seven small countries) and selected combinations of financial variables. Impulse responses (in-sample) show that shocks to financial variables influence real activity. However, according to out-of-sample forecast exercises using the Root Mean Square Error (RMSE) metric, this macro-financial linkage would be weak: financial indicators do not improve short and medium term forecasts of real activity in the euro area, even when their timely availability, relative to GDP, is exploited. This result is partly due to the 'average' nature of the RMSE metric: when forecasting ability is assessed as if in real time (conditionally on the information available at the time of the forecast), we find that models using financial variables would have been preferred, ex ante, in several episodes, in particular between 1999 and 2002. This result suggests that one should not discard, on the basis of RMSE statistics, the use of predictive models that include financial variables if there is a theoretical prior that a financial shock is affecting growth.

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Publisher

International Monetary Fund

Published Date

ISBN 10

1451873883

ISBN 13

9781451873887

Practical Thoracic Pathology

Diseases of the Lung, Heart, and Thymus

By: Allen P. Burke,Marie-Christine Aubry,Joseph Maleszewski,Borislav Alexiev,Fabio Tavora

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Practical Thoracic Pathology

Diseases of the Lung, Heart, and Thymus

By: Allen P. Burke,Marie-Christine Aubry,Joseph Maleszewski,Borislav Alexiev,Fabio Tavora

Extensively revised and expanded, Practical Thoracic Pathology: Diseases of the Lung, Heart, and Thymus (formerly Practical Cardiovascular Pathology) is a superbly illustrated, one-volume reference to pathology of the thorax. More than 1,000 full-color illustrations, tables, and “practical points” boxes help you arrive at a diagnosis accurately and efficiently. Ideal for both pathology residents and practicing surgical pathologists, this in-depth resource focuses on illustrated practical diagnosis, including differential diagnosis.

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3824

Publisher

Lippincott Williams & Wilkins

Published Date

ISBN 10

1496355512

ISBN 13

9781496355515

The Secrets of a Vatican Cardinal

Celso Costantini's Wartime Diaries, 1938-1947

By: Celso Costantini,Bruno Fabio Pighin

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The Secrets of a Vatican Cardinal

Celso Costantini's Wartime Diaries, 1938-1947

By: Celso Costantini,Bruno Fabio Pighin

On 19 April 1940 Celso Costantini prophetically wrote in his diary that if Italy followed Hitler into war, it would be allying itself with the "Anti-Christ." Within weeks, Mussolini's fascist regime plunged Italy into the destructive maelstrom of global military conflict. The ensuing years brought world war, the fall of fascism, occupation, liberation, and the emergence of a new political order. The Secrets of a Vatican Cardinal is an extraordinary and detailed behind-the-scenes account of crucial episodes in Europe's wartime history from a unique vantage point: the Vatican and the Eternal City. Costantini, a close advisor to Pope Pius XII, possessed a perspective few of his contemporaries could match. His diaries offer new insights into the great issues of the time - the Nazi occupation, the fall of Mussolini, the tumultuous end of the Italian monarchy, the birth of republican democracy in Italy, and the emergence of a new international order - while also recounting heartbreaking stories of the suffering, perseverance, and heroism of ordinary people. Less than a century later, with the world's attention gripped by the first papal resignation in six hundred years, The Secrets of a Vatican Cardinal presents a clear-eyed, fascinating, and complex portrait of the Roman Catholic Church's recent history.

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388

Publisher

McGill-Queen's Press - MQUP

Published Date

ISBN 10

0773590064

ISBN 13

9780773590069

Inside War

Understanding the Evolution of Organised Violence in the Global Era

By: Fabio Armao

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Inside War

Understanding the Evolution of Organised Violence in the Global Era

By: Fabio Armao

The post-Cold War era was characterised by both the recurrence of state wars and the spread of forms of organised violence other than wars. Asymmetric warfare between alliances led by the USA and groups of insurgents, such as those witnessed in Afghanistan and Iraq, coexist alongside domestic conflicts, such as that of former Yugoslavia and, more recently, Libya and Syria; and still other conflicts involving gangs, mafias or narco-traffickers. The massive military-industrial complexes conceived in the context of the threat of nuclear Armageddon are still there of course, but they now coexist with irregular armies of insurgents carrying out massacres through the use of light weapons and improvised explosives devices. This book oppose the idea that this situation prefigures the return to an anarchical, pre-political condition, by assuming that new wars are rather the product of the blurring of the public-private divide, induced by the end of the Cold War, together with globalisation. As a consequence, also the internal and external factors are blurred; and ever more permeable and elusive is becoming even the border between war and crime. Inside War goes beyond a state-centered analysis and adopts an interdisciplinary and multilayered approach, and is intended to foster the dialogue among researchers from different fields. It places war at the core of analysis, assuming that the reality of war is what we make of it; and that the only insurmountable limit to our comprehension of war is our way of knowing and representing it. Fabio Armao teaches courses in Politics and Globalisation Processes, and Criminal Systems. He has been Visiting Professor at Cornell University, and co-convenor of the Standing Group on Organized Crime, European Consortium for Political Research. Founding member of T.wai (Torino World Affair Institute), he is also member of the Editorial Board of ‘Global Crime’. His research interests and publications focus on international wars and geopolitics, on violent non-state actors and transnational organised crime, and on urban security.

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Page Count

224

Publisher

Walter de Gruyter GmbH & Co KG

Published Date

ISBN 10

3110471248

ISBN 13

9783110471243

Archaeology of the Unconscious

Italian Perspectives

By: Alessandra Aloisi,Fabio Camilletti

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Archaeology of the Unconscious

Italian Perspectives

By: Alessandra Aloisi,Fabio Camilletti

In reconstructing the birth and development of the notion of ‘unconscious’, historians of ideas have heavily relied on the Freudian concept of Unbewussten, retroactively projecting the psychoanalytic unconscious over a constellation of diverse cultural experiences taking place in the eighteenth and nineteenth centuries between France and Germany. Archaeology of the Unconscious aims to challenge this perspective by adopting an unusual and thought-provoking viewpoint as the one offered by the Italian case from the 1770s to the immediate aftermath of WWI, when Italo Svevo’s La coscienza di Zeno provides Italy with the first example of a ‘psychoanalytic novel’. Italy’s vibrant culture of the long nineteenth century, characterised by the sedimentation, circulation, intersection, and synergy of different cultural, philosophical, and literary traditions, proves itself to be a privileged object of inquiry for an archaeological study of the unconscious; a study whose object is not the alleged ‘origin’ of a pre-made theoretical construct, but rather the stratifications by which that specific construct was assembled. In line with Michel Foucault’s Archéologie du savoir (1969), this volume will analyze the formation and the circulation, across different authors and texts, of a network of ideas and discourses on interconnected themes, including dreams, memory, recollection, desire, imagination, fantasy, madness, creativity, inspiration, magnetism, and somnambulism. Alongside questioning pre-given narratives of the ‘history of the unconscious’, this book will employ the Italian ‘difference’ as a powerful perspective from whence to address the undeveloped potentialities of the pre-Freudian unconscious, beyond uniquely psychoanalytical viewpoints.

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Page Count

301

Publisher

Routledge

Published Date

ISBN 10

1000113558

ISBN 13

9781000113556

Stochastic Volatility in Financial Markets

Crossing the Bridge to Continuous Time

By: Antonio Mele,Fabio Fornari

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Stochastic Volatility in Financial Markets

Crossing the Bridge to Continuous Time

By: Antonio Mele,Fabio Fornari

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Solve jigsaw puzzle

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Page Count

156

Publisher

Springer Science & Business Media

Published Date

ISBN 10

1461545331

ISBN 13

9781461545330

Book's by Fabio Fornari

Stochastic Volatility in Financial Markets

Stochastic Volatility in Financial Markets

The Role of Financial Variables in Predicting Economic Activity in the Euro Area

The Role of Financial Variables in Predicting Economic Activity in the Euro Area

Practical Thoracic Pathology

Practical Thoracic Pathology

The Secrets of a Vatican Cardinal

The Secrets of a Vatican Cardinal

Inside War

Inside War

Archaeology of the Unconscious

Archaeology of the Unconscious

Stochastic Volatility in Financial Markets

Stochastic Volatility in Financial Markets

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