J.P. Morgan & Co.

About: J.P. Morgan & Co. is a based out in . It is known for research contribution in the topics: Portfolio & Implied volatility. The organization has 328 authors who have published 436 publications receiving 14291 citations.

AIDS in the workplace.

Abstract: In a survey of 67 corporations done in 1987 and 1988, 66 were found to have had employees with human immunodeficiency virus infections. The numbers and backgrounds of the infected employees tend to reflect the experience of the surrounding community. These employees were accommodated in keeping with published public health and social guidelines, without significant event. Responsible intervention should include defined medically and socially appropriate policy statements, effective education, and various forms of direct care.

A Random Utility Model for Shareholders Capturing the Disposition Effect

Abstract: This work proposes a random utility model for individual trading decision in the spirit of prospect theory. This model differs from those in the literature in that empirical data of stock price and volume can be incorporated. The paper tests the model with historical data from the NYSE TAQ database. This model provides one more alternative to link prospect theory and the disposition effect. Simulation results show that this model consistently predicts the disposition effect under all circumstances.

What is Responsible for India’s Sharp Disinflation?

Abstract: This paper attempts to understand the dramatic decline in inflation in India over the past 3 years, and quantify the role that different factors may have played, through the lens of an augmented Phillips curve. Unsurprisingly, we find that the evolution of inflation in India is a complex phenomenon, determined by the state of the business cycle, forward and backward-looking expectations, and institutional mechanisms (agriculture support prices and backward-looking wage indexation) that often amplify the effect of shocks, and create persistence in inflation. Simulations based on our econometric model suggest that lags of inflation which reflect both adaptive inflation expectations and the manner in which wages and support prices are set, a rationalization of Minimum Support Prices (MSPs), and some moderation in forward-looking inflation expectations, likely influenced both by the new monetary regime and the collapse in oil and commodities, explain the bulk of the disinflation between 2013/2014 and 2014/2015. We find the role of global factors to be less significant than is commonly perceived, explained perhaps by the fact that the pass-through of oil prices to retail prices was very limited. Similarly, we find no evidence that the disinflation was achieved at the altar of a large growth sacrifice, as is commonly perceived. Instead, our findings suggest that exogenous shocks to inflation—from lower discretionary component of MSPs, a new monetary regime, and lower global commodity prices—were perpetuated through backward-looking expectations and domestic institutional structures that amplified the influence of the original shocks. Finally, we consistently find that wage growth is more a symptom of previous inflation than a driver of it.

Connecting singular control with optimal switching

Abstract: We summarize our recent work, on a new theoretical connection between singular control of finite variation and optimal switching problems. This correspondence not only provides a novel method for analyzing multidimensional singular control problems, but also builds links among singular controls, Dynkin games, and sequential optimal stopping problems.

The multimedia semantic web

Abstract: It is well known that interpretation depends on context, whether for a work of art, a piece of literature, or a natural language utterance. This paper addresses the dynamic context of a collection of linked multimedia documents, of which the web is a perfect example. Contextual document semantics emerge through identification of various users' browsing paths though this multimedia document collection. Some implications of our approach are that the author of a web page cannot completely define that document's semantics and that semantics can emerge through use.