We estimate two well-known risk measures, the value-at-risk (VAR) and the expected shortfall, conditionally to a functional variable (i.e., a random variable valued in some semi(pseudo)-metric space). We use nonparametric kernel estimation for constructing estimators of these quantities, under general dependence conditions. Theoretical properties are stated whereas practical aspects are illustrated on simulated data: nonlinear functional and GARCH(1,1) models. Some ideas on bandwidth selection using bootstrap are introduced. Finally, an empirical example is given through data of the S&P 500 time series. 相似文献
This article presents the findings of a four-year survey on the development of social work education in Russia from 1995 to the present day. Through a series of questionnaires, interviews and discussions with Russian academics, practitioners and students, the study looks at a variety of issues including the high rate of attrition. It focuses on aspects of students’ practice placements such as the type, length and quality of practice placements, the students’ workload and the supervision provided. It also looks at the contribution that international collaboration has made to the development of social work education in Russia.
The survey concludes that there is a need to enhance the overall package for social workers and raise the status of the profession in order to retain qualified personnel. Longer practice placements which start in the first year and are adequately funded and supervised are seen as the key to retaining new graduates. It concludes that although international projects have made a difference to those participating at the time, it is difficult to disseminate these benefits beyond the immediate region. Now that international funding to Russia has been reduced it is critical that any remaining funding is accurately targeted and properly coordinated. 相似文献