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We compare the performance of five well-known truncation heuristics for mitigating the effects of initialization bias in the output analysis of steady-state simulations. Two of these rules are variants of the MSER heuristic studied by White (1997); the remaining rules are adaptations of bias-detection tests based on the seminal work of Schruben (1982). Each(More)
This paper argues that, if implemented in its current form, the new Basle Capital Accord will adversely effect developing sovereigns, corporates and banks wishing to borrow in international markets. This impact will result from the major banks' lending patterns being altered by the adoption of internal ratings based approaches, leading to a significant(More)
ÖkologischesWirtschaften 1.2010 inequalities within and between countries persist. The economic system has failed not only on its own terms, but also for people and the planet and a more fundamental overhaul than restoring business as usual is required to turn this around. In 2009, the new economics foundation (nef) launched a project to explore what the(More)
of the new economics foundation Financing climate change mitigation and adaptation in developing countries ASSESSING ALTERNATIVES THE About the author Dr Stephen Spratt is Research and Programmes Director at the new economics foundation (nef). Prior to joining nef Stephen lectured in international finance and development at the University of Reading and was(More)
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