title: Nonlinear adjustments of volatility expectations to forecast errors: Evidence from Markov-Regime switches in implied volatility

authors: Nishina, Kazuhiko

subjects: economic analysis

abstract: This paper tests for nonlinearities in the behavior of volatility expectations based on model-free implied volatility indices. Using Markov regime-switching models, the empirical evidence from the German, Japanese and U.S. markets suggests that there are indeed regime-specific levels of volatility expectations. Whereas the regimes seem to be governed by the degree of serial correlation and adjustment to forecast errors, there is no evidence of significant leverage effects. The frequency of regime shifts in volatility expectations is affected by the onset of financial crises, which have the effect of increasing the likelihood of regimes driven by lower autoregressive effects and faster speeds of adjustment. The evidence suggests that despite the heterogeneous beliefs of market participants, implied volatility indices provide a measure of consensus expectations that can be useful in understanding the nonlinear behavior of volatility expectations during periods of financial instability

text: Nonlinear adjustments of volatility expectations to forecast errors: Evidence from Markov-Regime switches in implied volatility This paper tests for nonlinearities in the behavior of volatility expectations based on model-free implied volatility indices. Using Markov regime-switching models, the empirical evidence from the German, Japanese and U.S. markets suggests that there are indeed regime-specific levels of volatility expectations. Whereas the regimes seem to be governed by the degree of serial correlation and adjustment to forecast errors, there is no evidence of significant leverage effects. The frequency of regime shifts in volatility expectations is affected by the onset of financial crises, which have the effect of increasing the likelihood of regimes driven by lower autoregressive effects and faster speeds of adjustment. The evidence suggests that despite the heterogeneous beliefs of market participants, implied volatility indices provide a measure of consensus expectations that can be useful in understanding the nonlinear behavior of volatility expectations during periods of financial instability

year: 2012

title: International languages in New Zealand secondary schools and universities: Coherence, consistency and transparency

authors: Johnson, Diane

abstract: The overall aim of this research is to provide an up-to-date survey and critical evaluation of aspects of the teaching and learning of international languages other than English in secondary schools and, to a more limited extent, in universities in New Zealand. 
The Introduction summarizes the aims and objectives of the research and outlines the research methods. 
Chapter 1 introduces the context in which language teaching and learning in New Zealand is conducted, focusing on population size and density, the cultural and linguistic profile of New Zealanders and the structure of New Zealand education. 
In Chapter 2, a number of landmark publications and reports on language education in New Zealand are examined in the light of the extent to which their recommendations have been adopted. 
Chapter 3 examines language learning in New Zealand secondary schools and universities in terms of the types of course available and the take-up and retention rates. 
In Chapter 4, New Zealand Ministry of Education documents relating to international languages (syllabuses, curriculum statements and curriculum guidelines) are introduced and compared together with an overview of the language offerings of New Zealand universities. 
Chapter 5 critically reviews New Zealand Ministry of Education curriculum documents in the context of international literature relating to the teaching and learning of languages and examines the extent to which university language courses focus on language proficiency development. 
In Chapter 6, national educational awards (particularly School Certificate and University Entrance, Bursary and Scholarship) for international languages are critiqued and the planned introduction of a National Certificate in Educational Achievement is discussed. Chapter 6 also critiques a number of university language examination papers. 
Chapter 7 reports the results of a questionnaire-based survey of language teachers in New Zealand schools. This report relates primarily to the professional background and training of these teachers, their attitudes towards national language resources and examinations, and their assessment of their own language proficiency achievements and those of their students. 
Chapter 8 reports the results of a study that mimics an earlier United Kingdom-based study. This involved students of German in New Zealand universities taking a German CTest and/or completing a questionnaire relating primarily to their reasons for learning the language and their attitudes towards German culture. 
Chapter 9 provides an over-view of the project, identifies areas of weakness, outlines the primary findings and recommendations and makes suggestions for future research.

text: International languages in New Zealand secondary schools and universities: Coherence, consistency and transparency The overall aim of this research is to provide an up-to-date survey and critical evaluation of aspects of the teaching and learning of international languages other than English in secondary schools and, to a more limited extent, in universities in New Zealand. 
The Introduction summarizes the aims and objectives of the research and outlines the research methods. 
Chapter 1 introduces the context in which language teaching and learning in New Zealand is conducted, focusing on population size and density, the cultural and linguistic profile of New Zealanders and the structure of New Zealand education. 
In Chapter 2, a number of landmark publications and reports on language education in New Zealand are examined in the light of the extent to which their recommendations have been adopted. 
Chapter 3 examines language learning in New Zealand secondary schools and universities in terms of the types of course available and the take-up and retention rates. 
In Chapter 4, New Zealand Ministry of Education documents relating to international languages (syllabuses, curriculum statements and curriculum guidelines) are introduced and compared together with an overview of the language offerings of New Zealand universities. 
Chapter 5 critically reviews New Zealand Ministry of Education curriculum documents in the context of international literature relating to the teaching and learning of languages and examines the extent to which university language courses focus on language proficiency development. 
In Chapter 6, national educational awards (particularly School Certificate and University Entrance, Bursary and Scholarship) for international languages are critiqued and the planned introduction of a National Certificate in Educational Achievement is discussed. Chapter 6 also critiques a number of university language examination papers. 
Chapter 7 reports the results of a questionnaire-based survey of language teachers in New Zealand schools. This report relates primarily to the professional background and training of these teachers, their attitudes towards national language resources and examinations, and their assessment of their own language proficiency achievements and those of their students. 
Chapter 8 reports the results of a study that mimics an earlier United Kingdom-based study. This involved students of German in New Zealand universities taking a German CTest and/or completing a questionnaire relating primarily to their reasons for learning the language and their attitudes towards German culture. 
Chapter 9 provides an over-view of the project, identifies areas of weakness, outlines the primary findings and recommendations and makes suggestions for future research.

year: 2000

title: Words on walls: The linguistic landscape of Kirikiriroa primary school classrooms

authors: Burnette, Jessie

abstract: Language contact between te reo Māori and English has resulted in one of the central features of New Zealand English (NZE): the integration of loanwords from the Indigenous, donor language, te reo Māori, into a dominant Lingua Franca (Hay et al., 2008). Previous works have analysed the presence and presentation of these loanwords across a number of mediums. Our study, however, examines data directed at a previously unexamined demographic: primary school-aged children.

We aim to establish which loanwords children are regularly exposed to, and thus examine a most relevant domain: the classroom. Considering the linguistic landscape of classrooms (schoolscapes) offers insight into the language use that occurs within them. Further, the classroom is educational in the traditional sense, but also in the developmental sense, in the acquisition of broader social meaning. Previous schoolscapes research has highlighted not only their pedagogical importance, but their influence in the construction and transmission of language ideologies (Pzymus and Huddleston 2021; Brown 2012), making these particularly valuable spaces to study.

This study presents a schoolscape investigation of nine Waikato classrooms by analysing loanwords arising in educational artefacts directed at primary-aged children (7-11) in an English-medium school setting. We make the following contributions: (1) a systematic schoolscape method for analysing contact-induced language phenomena; (2) quantitative and qualitative analyses of loanwords identified in our data; (3) a detailed taxonomic expansion of te reo Māori loanword categories (semantic and syntactic) in present day NZE.

In this talk, we ask the following questions:

RQ1) What type of te reo Māori (loan)words are children regularly exposed to through schoolscapes in A/NZ?

RQ2) What is their distribution across schools/classrooms/years?

We find that, in the classes examined, children encounter both high levels of exposure to te reo Māori (loan)words and high levels of variation in the types of words present. On average, children encounter one te reo Māori token for every ten English tokens. As in previously identified trends (Macalister, 2006b), most loanwords found are nouns belonging to semantic categories pertaining to the environment, place names and social culture items. However, we also identify prominently occurring words and word types that have not previously been identified in corpora. We show that, within classrooms, children regularly encounter a landscape richer in te reo Māori (loan)words than previously seen, but also one characterised by substantial variation.

text: Words on walls: The linguistic landscape of Kirikiriroa primary school classrooms Language contact between te reo Māori and English has resulted in one of the central features of New Zealand English (NZE): the integration of loanwords from the Indigenous, donor language, te reo Māori, into a dominant Lingua Franca (Hay et al., 2008). Previous works have analysed the presence and presentation of these loanwords across a number of mediums. Our study, however, examines data directed at a previously unexamined demographic: primary school-aged children.

We aim to establish which loanwords children are regularly exposed to, and thus examine a most relevant domain: the classroom. Considering the linguistic landscape of classrooms (schoolscapes) offers insight into the language use that occurs within them. Further, the classroom is educational in the traditional sense, but also in the developmental sense, in the acquisition of broader social meaning. Previous schoolscapes research has highlighted not only their pedagogical importance, but their influence in the construction and transmission of language ideologies (Pzymus and Huddleston 2021; Brown 2012), making these particularly valuable spaces to study.

This study presents a schoolscape investigation of nine Waikato classrooms by analysing loanwords arising in educational artefacts directed at primary-aged children (7-11) in an English-medium school setting. We make the following contributions: (1) a systematic schoolscape method for analysing contact-induced language phenomena; (2) quantitative and qualitative analyses of loanwords identified in our data; (3) a detailed taxonomic expansion of te reo Māori loanword categories (semantic and syntactic) in present day NZE.

In this talk, we ask the following questions:

RQ1) What type of te reo Māori (loan)words are children regularly exposed to through schoolscapes in A/NZ?

RQ2) What is their distribution across schools/classrooms/years?

We find that, in the classes examined, children encounter both high levels of exposure to te reo Māori (loan)words and high levels of variation in the types of words present. On average, children encounter one te reo Māori token for every ten English tokens. As in previously identified trends (Macalister, 2006b), most loanwords found are nouns belonging to semantic categories pertaining to the environment, place names and social culture items. However, we also identify prominently occurring words and word types that have not previously been identified in corpora. We show that, within classrooms, children regularly encounter a landscape richer in te reo Māori (loan)words than previously seen, but also one characterised by substantial variation.

year: 2024