Showing papers by "Martin Hess published in 2003"
TL;DR: In this article, the authors evaluate competing Markov regime switching model setups for the Swiss stock market and find that the stochastic movement is optimally tracked by time-varying first and second moments and including a memory effect.
26 citations
TL;DR: In this article, the impacts of macroeconomic shocks on various sector indices of the Swiss stock market were analyzed using a VECM model to disentangle local and foreign as well as macroeconomic and financial effects.
Abstract: A large body of evidence indicates that macroeconomic and financial variables are dynamically interrelated. In an international setup, we analyze the impacts of macroeconomic shocks on various sector indices of the Swiss stock market. We use a VECM model to disentangle local and foreign as well as macroeconomic andfinancial effects. Sector subindexes diverge to an important extent in their sensitivity to news about fundamental variables, a fact to be taken into account for asset allocation. JEL codes: E44, G15
19 citations
01 Jan 2003
TL;DR: Des observations and des experiences sur les relations entre Anoplodactylus petiolatus and sa proie, Hydractinia echinata sont exposees, l'accent est mis sur l'alimentation, les mouvements et the protection contre the defense of the colonie de polypes.
Abstract: Des observations et des experiences sur les relations entre Anoplodactylus petiolatus et sa proie, Hydractinia echinata sont exposees. L'accent est mis sur l'alimentation, les mouvements et la protection contre la defense de la colonie de polypes. Des elements actifs (utilisation de la proboscis et de l'allure) et une sorte d'immunite sont pris en consideration. Meme apres avoir ete engloutis, les Anoplodactylus reussissent a s'extraire de la cavite gastro-vasculaire du polype sans blessure serieuse. En outre, les larves d'Anoplodactylus qui vivent en parasite dans des polypes de l'Hydraire transformes en « galles » sont evoquees.
5 citations