我定义了一个模板类: template class myclass { typedef T datatype; ... }; 我希望当使用myclass的时候,这个datatype 的定义不是T,而是一个另外的类型S。我的问题是这个 是不是可行的?如果可以的话,syntax是什么呢? 我可以用full specialization的,不过这个类有好多 函数的,所以不想这样搞。google了半天也未果。 谢了!
b*8
5 楼
只有我一个博士生在准备考finance field qualifier,无比茫然。找了点旧题练习, 准备了回答如下。先做了 关于IPO, EMH 和EQUITY PREMIUM PUZZLE。(附件中有两个) 但是不知道答题标准,。怎样才算‘博士水平’的回答。请各位前辈高手指点。 考试时,6-7道题,3个小时,平均一道题只有20多分钟回答。 Question 1: (1) What is Equity Premium Puzzle? Implication? Further research suggestion? (2) if predict that the recent equity premium will be smaller, what is the implication? What’s your advice for investors? Answer: Equity Premium Puzzle ( Mehra, Prescott, 1985) In a representative agent setting, Mehra and Prescott (1985
搞个traits,就是说把上面那个typedef T datatype换成 typedef typename traits::datatype datatype,然后full/partial specialization traits这个类: template class traits{typedef T datatype;};
1.(1) Some Ph.D students proved that stock returns are auto-correlated. Is this a violation of market efficiency? (2) Assuming CAPM, and auto correlation, is it a violation or not? if it is not, why? If it is, how can investors get the abnormal return. Answer: (1) Market efficient hypothesis states that when the market is in the weak form efficiency, the market price has fully reflected historical information. In other words, in an efficient market, the correlation of stock returns is expec
Thanks for your reply! I have been waiting for a whole day! 我看看下面 另外两个,学金融大家都懂的。 是努力高度浓缩才把篇幅压下来。老师给的书单中 关于Consumption-based Asset Pricing 只有如下几篇。大概是要考我们自己发挥一下 *Mehra, R. and E. Prescott, 1985, The equity premium: A puzzle, Journal of Monetary Economics, 15, pp. 145-162 Breeden, Douglas T., Michael R. Gibbons, and Robert H. Litzenberger, 1989, Empirical tests of the consumption-oriented CAPM, Journal of Finance, v
t*t
15 楼
ping
【在 p***o 的大作中提到】 : 还是你快一步 ... 呵呵
b*8
16 楼
1.What is IPO? Answer: IPO refers to the Initial Public Offering, which means that a private company for the first time issues publicly traded shares of stock. Reasons for going Public: The market condition is the most important factor in the decision to go public, while the stage of firm in its life cycle is the second important factor (Ritter&Welch, 2002). 2. What is underpricing? Answer: First documented by Logue(1973) and Ibbotson(1975), underpricing refers to the pattern of positive av
t*t
17 楼
explicit specialization of a member of class template may be provided, however they must be fully specialized. in other words, if you partial specialize a class, you must rewrite everything. BTW, your case is not called "partial specialization". partial specialization will still have template parameter. if you specialize for T-> char*, then it's not partial (all parameter have values)
我不是学finance的。。。还是说equ prem吧,首先问你what is,那意思就是说做个 survey嘛。老师给你的书单太落伍了,如果你能介绍下最近的进展我觉得也不错。 整体的思路是。既然基本宏观模型不能解释equ prem,那少了什么元素呢? 1 CRRA不行,用E-Z,但weil发现单独用E-Z不行(见手册里mehra的批判)。Bansal and Yaron 04发现E-Z加上long-run risk可以。long-run risk就是个放大的机制。近年来 的研究发现long-run risk很有前途。 2 总体波动不等于个人波动,heaton and lucas研究异质,但这也不能解决,需要加入 trans cost才行。去年有个UCLA几个人有个multiplier approach的文章应该有点更新 的进展,忘了。 3 Habbit。basically play with risk-aversion。 4 disaster。 change decision rule,这影响决策,即使disaster根本没发生。Rietz( see handbook) and Ba
p*o
19 楼
thanks a lot. i'll read and think a bit more, :)
->
【在 t****t 的大作中提到】 : explicit specialization of a member of class template may be provided, : however they must be fully specialized. in other words, if you partial : specialize a class, you must rewrite everything. : BTW, your case is not called "partial specialization". partial : specialization will still have template parameter. if you specialize for T-> : char*, then it's not partial (all parameter have values)
r*s
20 楼
BY04 is BS, no garch in consumption.
l*n
21 楼
他们用了一种和garch类似,但其实比garch笨的方法。。。连方差的非负性都保证不了。。。 long run risk=garch?。 既然叫for the Long Run: A Potential Resolution of Asset Pricing Puzzles。我就suppose那的确是long run risk...
【在 r********s 的大作中提到】 : BY04 is BS, no garch in consumption.
b*8
22 楼
Yes, this paper is on the reading list. And my answer is also partially based on Ritter and Weltch (2002). So, the answer for the field exam is like a review of the "review"? I need not only make a good summary of the literature, but also show my thoughts about the literature? (This is the impression I got after reading). Thanks a lot!
b*8
23 楼
感谢lakeqian! 思路分析得很精彩! 很有启发! “首先问你what is,那意思就是说做个survey嘛。” !!! 这个很精辟! 我原来是 真不明白这点的! 想来老师是希望要这样的答案,干吗遮遮藏藏的,玩什么‘学术 潜规则’啊? 我还真是不懂这个潜规则。那这个survey也只有是多方引用,点到为 只啦。二三十分钟那能写个大文章。那回答岂不是要旁征博引,还有超级浓缩的? 我再去找文献看看。顺便问一句,前辈说的‘手册’是‘Handbook of the Economics of Finance’吗?里面有 ‘Chapter 14 The equity premium in retrospect Pages 889-938 Rajnish Mehra, Edward C. Prescott’。 correlated. Is this a violation of market efficiency? NO. EMH is wrong. 当年Fama想错了。(召唤lei
【在 b**********8 的大作中提到】 : 感谢lakeqian! 思路分析得很精彩! 很有启发! : “首先问你what is,那意思就是说做个survey嘛。” !!! 这个很精辟! 我原来是 : 真不明白这点的! 想来老师是希望要这样的答案,干吗遮遮藏藏的,玩什么‘学术 : 潜规则’啊? 我还真是不懂这个潜规则。那这个survey也只有是多方引用,点到为 : 只啦。二三十分钟那能写个大文章。那回答岂不是要旁征博引,还有超级浓缩的? : 我再去找文献看看。顺便问一句,前辈说的‘手册’是‘Handbook of the Economics : of Finance’吗?里面有 ‘Chapter 14 The equity premium in retrospect : Pages 889-938 Rajnish Mehra, Edward C. Prescott’。 : : correlated. Is this a violation of market efficiency?
b*8
26 楼
FF 的模型争论了快40年,近年热门的行为金融学就是说‘EMH是错的’,然后另外寻找 解释的。但也难另建立 一个完整的体系。 Lakeqian的点拨很好。想再请教一个‘解题思路’,你不知道文章内容也没有关系, 主要想请教‘套路’。一般说‘Discuss the implication ’,主要该如何解答? Question: Discuss the implication of Ferson &Harvey(1999), with respect to the FF 3 factor model and time varying and cross-section of returns。 这篇文章是把 time varying 和 cross-section 连在一起了。‘Discuss the implication of Ferson &Harvey(1999)’,说这篇文章用了什么定价模型,做了什么 回归分 析,然后才在此基础上说他是如何冲击FF 3 factor model 。 我的问题:讨论‘ implication’时,是否需要像在论文开头那样先把资产定价模 型发展作一个简
b*8
27 楼
又看了好多论文。似乎明白了这个问题了。Thank you the same, seasnow. AR 其实是从‘时间’角度上来说‘股价 是可以预测的’。股价的可预测性正是资产定价的永恒课题。 问题 中没有说是用‘过去’还是‘现在的公共信息’,所以如果AR是真的,EMH 是 错了。但是只是说AR, 不一定就能证明EMH是错的,其中名堂很多,可能只是由于 EQUITY PREMIUM的时间性变化(FAMA FRENCH 1989,FERSON&HARVEY 1991)等,可能 这 些AR 扣除交易成本后没有经济意义,投资者捕捉不到手的。。。。 FAMA-FRENCH 1991 又写了EMH II,解释这些问题。AR可能只是‘SPURIOUS’。。。。。