title: An intertemporally-consistent and arbitrage-free version of the Nelson and Siegel class of yield curve models

authors: Krippner, Leo

subjects: yield curve

abstract: This article derives a generic, intertemporally-consistent, and arbitrage-free version of the popular class of yield curve models originally introduced by Nelson and Siegel (1987). The derived model has a theoretical foundation (conferred via the Heath, Jarrow and Morton (1992) framework) that allows it to be used in applications that involve an implicit or explicit time-series context. As an example of the potentialapplication of the model, the intertemporal consistency is exploited to derive a theoretical time-series process that may be used to forecast the yield curve. The empirical application of the forecasting framework to United States data results in out-of-sample forecasts that outperform the random walk over a sample period of almost 50 years, for forecast horizons ranging from six months to three years.

text: An intertemporally-consistent and arbitrage-free version of the Nelson and Siegel class of yield curve models This article derives a generic, intertemporally-consistent, and arbitrage-free version of the popular class of yield curve models originally introduced by Nelson and Siegel (1987). The derived model has a theoretical foundation (conferred via the Heath, Jarrow and Morton (1992) framework) that allows it to be used in applications that involve an implicit or explicit time-series context. As an example of the potentialapplication of the model, the intertemporal consistency is exploited to derive a theoretical time-series process that may be used to forecast the yield curve. The empirical application of the forecasting framework to United States data results in out-of-sample forecasts that outperform the random walk over a sample period of almost 50 years, for forecast horizons ranging from six months to three years.

year: 2005-02

title: Lesbian, gay, and bisexual (LGB) identities

authors: Semlyen, Joanna

abstract: Psychology has a long history of pathologizing LGB identities. Although decades of sociolegal change and advancement of LGBTIQ+ psychology have afforded LGB people the right to self-determination, much of psychology continues to ignore the ways in which the power of LGB people can only exist within the framework of heteronormativity. Even in the western world, the inclusion of LGB people is not universally experienced. The existence of continued victimization, and more subtle forms of discrimination including the appropriation of "gay" culture, indicates that the privileging of heterosexual identities and "lifestyles" is still very much present. Interfacing with constructs such as heteronormativity, liberal humanism, and homonormativity this chapter explores the way in which LGB identities are impacted by politics and power. It also explores the way in which the constituent groups under the LGB identities umbrella are differentially affected by gendered politics, and the ways in which some ways of being LGB are privileged over others under heteronormativity.

text: Lesbian, gay, and bisexual (LGB) identities Psychology has a long history of pathologizing LGB identities. Although decades of sociolegal change and advancement of LGBTIQ+ psychology have afforded LGB people the right to self-determination, much of psychology continues to ignore the ways in which the power of LGB people can only exist within the framework of heteronormativity. Even in the western world, the inclusion of LGB people is not universally experienced. The existence of continued victimization, and more subtle forms of discrimination including the appropriation of "gay" culture, indicates that the privileging of heterosexual identities and "lifestyles" is still very much present. Interfacing with constructs such as heteronormativity, liberal humanism, and homonormativity this chapter explores the way in which LGB identities are impacted by politics and power. It also explores the way in which the constituent groups under the LGB identities umbrella are differentially affected by gendered politics, and the ways in which some ways of being LGB are privileged over others under heteronormativity.

year: 2023-12-28

title: Closing geographical distances: The value of a New Zealand perspective on the admission policy of a Native Hawaiian School

authors: Hemi, Keakaokawai Varner

subjects: Racial discrimination

abstract: This article examines the legal narratives evident in the American federal court decision in Doe v Kamehameha Schools (Kamehameha).' The article first describes the historical development of everyone/ no-one, someone and Indigenous equality narratives and their particular impact on the narration of Indigenous peoples in the law. It then examines how the opinions of the United States Ninth Circuit Court of Appeals in this case exhibit significant narrative confusion and distrust about the relationship between Indigenous identity and equality, with the Ninth Circuit interpreting the Native Hawaiian schools' preference for Native Hawaiian students as either reverse racial discrimination or an exception to the general rule of homogeneity and anonymity. For comparison, the article then examines similar equality narratives in New Zealand law, which reveal few legal challenges to admission policies which, either explicitly or implicitly, prefer Maori and demonstrate a narrative complementarity between equality and Indigenous identity. The article recognises that, while complementarity could clarify the narrative issues in Kamehameha for future American federal courts, it also provides the opportunity for New Zealand to pause and reflect. Ultimately, the article advocates a weaving of equality narratives across geographical distances.

text: Closing geographical distances: The value of a New Zealand perspective on the admission policy of a Native Hawaiian School This article examines the legal narratives evident in the American federal court decision in Doe v Kamehameha Schools (Kamehameha).' The article first describes the historical development of everyone/ no-one, someone and Indigenous equality narratives and their particular impact on the narration of Indigenous peoples in the law. It then examines how the opinions of the United States Ninth Circuit Court of Appeals in this case exhibit significant narrative confusion and distrust about the relationship between Indigenous identity and equality, with the Ninth Circuit interpreting the Native Hawaiian schools' preference for Native Hawaiian students as either reverse racial discrimination or an exception to the general rule of homogeneity and anonymity. For comparison, the article then examines similar equality narratives in New Zealand law, which reveal few legal challenges to admission policies which, either explicitly or implicitly, prefer Maori and demonstrate a narrative complementarity between equality and Indigenous identity. The article recognises that, while complementarity could clarify the narrative issues in Kamehameha for future American federal courts, it also provides the opportunity for New Zealand to pause and reflect. Ultimately, the article advocates a weaving of equality narratives across geographical distances.

year: 2016