Category Archives: Blogpost

From where does the gold price originate?

Here is some evidence…

We investigate which of the two main centers of gold trading – the London spot market and the New York futures market – plays a more important role in setting the price of gold. Using intraday data during a 17-year period we find that although both markets contribute to price discovery, the New York futures play a larger role on average. This is striking given the volume of gold traded in New York is less than a tenth of the London spot volume, and illustrates the importance of market structure on the process of price discovery. We find considerable variation in price discovery shares both intraday and across years. The variation is related to the structure and liquidity of the markets, daylight hours, and macroeconomic announcements that affect the price of gold. We find that a major upgrade in the New York trading platform reduces the relative amount of noise in New York futures prices, reduces the impact of daylight hours on the location of price discovery, but does not greatly increase the speed with which information is reflected in prices.

The full paper is here

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Wage control: Only for the pixieheads

Wage control, it seems, lke much in Ireland, is for the little people. The pixieheads get patted on the head and told how good we are to bear down and buckle up, while the protected elites roll on. Continue reading

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Debunking the AutoAddress Debunking! | Get Lost Eircodes

In April last, Professor Brian Lucey of TCD published an independent assessment of the major issues that are associated with the planned National Postcode, to be called Eircode. Almost immediately, an attempt at debunking these issues was published by a company called AutoAddress in Dublin. Of course, those watching expected a debunking of the debunking, but none was done because none was merited…until now, let us tell you why.

via Debunking the AutoAddress Debunking! | Get Lost Eircodes.

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Veni, Vidi, Vitavi – Jean Claude Trichet and Ireland

dgtrichetThe departure of Patrick honohan from the central bank caps a week where the Irish public saw the true reality of central bank independence. Continue reading

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Time for the state to shift its AHSS on higher education policy?

Ranking season is upon us with the QS rankings of subject areas (not, as is commonly though, Departments) now revealed. Again we find that despite the hype Irish universities are stronger in Arts and Humanities than in the STEM areas. This is in stark contrast to the financial flows to these areas and in even starker contrast to the government and regulatory thrust. Evidence of sustained internationally recognised quality in the AHSS (arts, humanities and social science) area does not translate into funding, support or recognition. Perhaps its time it did?

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Breda O’Brien doesnt get it..

Breda O’Brien doesnt get it.. Taking about some of the vile abuse she gets she notes

 

“It was really incredibly toxic at that time. I don’t want anyone to be in a closet but I felt that I was almost being forced into it. And I don’t think that’s fair to anybody.”

That you were being forced into a closet?

“Yeah. That there are certain things you believe in that you can’t say.”

Thats right Breda. You or I or the man next door or the lass selling the paper might believe that blacks are inferior to whites, that the nazis didnt do half enough of a job on the jews, that we should be allowed rape our spouses, or even that we can enslave migrants (a la Leviticus 25:45). But, you know what? We may think that, believe in it utterly, but in public we need to drink a tall glass of STFU. Because as a society we work only when we have a modicum of interpersonal tolerance.

via ‘Gays should abstain from sex – like all unmarried couples’ – Independent.ie.

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Ireland – Bill proposes making ebooks illegal and to jail people for ‘annoying’ others

Yep…

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