Identifying the effect of differential taxation on portfolio allocation requires exogenous variation in marginal tax rates. Marginal tax rates vary with income, but income surely affects portfolio choice directly. In systems ...

This paper argues that the two boom and bust episodes of the turn of the Century – the Internet mania and crash of 1990s and the easy liquidity boom and bust of 2000s– are two distinct components of a single structural ...

We present a novel structural estimation procedure for models of intertemporal allocation. This is based on modelling expectation errors directly; we refer to it as Synthetic Residual Estimation (SRE). The flexibility of ...

We examine whether contagion tests are affected by controls for volatility clustering and the collection of synchronized data sets. Without controlling for volatility clustering synchronization does not apparently matter. ...

It has been argued that rare economic disasters can explain most asset pricing puzzles. If this is the case, perceived risk associated with a disaster in stock markets should be revealed in household portfolios. That is, ...

This thesis describes experiments to investigate high-altitude relight of a lean direct injection (LDI) combustor. The features that make LDI technology less polluting in terms of NOx compared to conventional combustors ...

The aim of this paper is to model the trading intensity of the US Treasury bond market which has a unique expandable limit order book which distinguishes its structure from other asset markets. An analysis of tick data ...

Whey is a by-product of cheese manufacture, containing a mixture of proteins of commercial value, each having unique attributes for nutritional, biological and food ingredient applications. A tremendous amount of whey, ...

Using energy more efficiently is essential if carbon emissions are to be reduced. According to the International Energy Agency (IEA), energy efficiency improvements represent the largest and least costly savings in carbon ...

Further understanding the small scale coherent structures which occur in high Reynolds number turbulence would be of enormous benefit. Therefore, the aim of the current project was to make well resolved three-dimensional ...

Under the threat of global warming it is vital to determine the impact that future changes in climate may have on the environment and to what extent any adverse effects can be mitigated. In this research an assessment was ...

Lean premixed combustion has potential for reducing emissions from combustion devices without compromising fuel efficiency, but it is prone to instabilities which presents design difficulties. From emissions point of view ...

This thesis considers the control of combustion oscillations, motivated by the susceptibility of lean premixed combustion to such oscillations, and the long and expensive development and commissioning times that this is ...

We describe here a library aimed at automating the solution of partial differential equations using the finite element method. By employing novel techniques for automated code generation, the library combines a high level ...

PrologPF is a parallelising compiler targeting a distributed system of general purpose workstations connected by a relatively low performance network. The source language extends standard Prolog with the integration of ...

The Cahn-Hilliard equation is of importance in materials science and a range of other fields. It represents a diffuse interface model for simulating the evolution of phase separation in solids and fluids, and is a nonlinear ...

Corporate business models are shifting away from product delivery paradigms to product-service paradigms, where ongoing through-life service support is preeminent. In the UK, a Grand Challenge project (www.kimproject.org) ...

Analysis of an interface stabilised finite element method for the scalar advection-diffusion-reaction equation is presented. The method inherits attractive properties of both continuous and discontinuous Galerkin methods, ...

This solver is in support of the paper 'Analysis of an interface stabilised finite element method: The advection-diffusion-reaction equation', by Garth N. Wells

Theoretical and experimental studies of particle deposition in turbulent pipe flow have been carried out for over forty years, but some of the most important transport mechanisms are still not well understood. The first ...