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Central Bank Capital in Turbulent Times:The Risk Management Dimension of Novel Monetary Policy Instruments
No full textThis open access book provides a comprehensive overview of the vulnerabilities of central banks’ financial accounts and the implications for central bank capital and risk management in turbulent times. By combining the perspectives of academics, risk managers and policy makers, it sheds light on the complex challenges facing central banks and offers key insights into safeguarding the stability of financial systems in an uncertain future. In an era of heightened uncertainty, central banks face unprecedented risks. Following consecutive crises, they have expanded their monetary policy toolkit through quantitative easing and credit extension, which has bloated their balance sheets and exposed them to substantial risks. Moreover, central banks are confronting novel challenges like climate change and nature loss, which threaten their objectives of price stability and financial stability. At the same time, central banks find themselves in a precarious position, as they raise interest rates to combat inflation, generating financial losses on their asset portfolios. These losses threaten to erode their capitalization, a cornerstone of central bank independence and credibility
What do we talk about when we talk about Euroscepticism?:Relaunching the conceptual debate about a contested term
No full textEuroscepticism has become a mainstream phenomenon in European politics since the concept's first appearance in The Times of 11 November 1985. The post-Maastricht Treaty period was an important initial turning point, but Euroscepticism became especially visible during the crises that hit the European Union more recently. Along the way, ‘Euroscepticism’ has become a catch-all label referring to a broad range of positions. Our work engages with the resulting conceptual confusion. Since Taggart's famous 1998 article on the concept, ‘Euroscepticism’ has been examined from different perspectives. However, despite initial conceptual discussions following the publication of Taggart's article, conceptual work on Euroscepticism has become rare. Our paper presents an argumentation for relaunching this conceptual debate. We introduce our idea of ‘concept’ as a theoretical problem deriving from the necessity to face an unknown, blurred entity, and make a case for treating Euroscepticism as a sensitising concept. To illustrate our argument, we discuss a historical timeline to show that Euroscepticism cannot be disconnected from the history of the European project. We also present three generations of Euroscepticism research and how they deal with the phenomenon. We conclude with suggestions for new conceptual endeavours in the study of Euroscepticism
Combining dispositional and behavioural facets of SRL, and the role of students’ growth orientation
No full textThis study addresses three key challenges in self-regulated learning (SRL) research. First, it examines the relationship between dispositional SRL – students’ self-reported regulation skills – and behavioural SRL, inferred from computer logs of learning activities in technology-enhanced environments. The study investigates the complementarity of these facets and their strengths and limitations in modelling student learning of 5,724 business students. Second, it explores the link between learning regulation and approaches to learning. While prior research suggests deep learners engage in self-regulation and surface learners rely on external regulation, our findings indicate that high-performing students flexibly switch between both modes based on context. Third, the study examines the role of growth orientation and its key components – mindsets, effort beliefs, future goals, and autonomous motivation – in dispositional and behavioural SRL and course performance. Our research utilises dispositional learning analytics, based on surveys and e-tutorial activity data, to enhance student learning by providing targeted learning feedback
Correcting for selection bias after conditioning on a sum score in the Ising model
No full textIn psychological studies, it is common practice to select a sample based on the sum score of the modeled variables (e.g., based on symptom severity when investigating the associations between those same symptoms). However, this practice introduces bias if the sum score selection imperfectly defines the population of interest. Here, we propose a correction for this type of selection bias in the Ising model, a popular network model for binary data. Possible applications of our correction are when one wants to obtain (1) full population estimates when only the sum score subset of the data is available, and (2) improved estimates of a subpopulation, if we observe a mixture of populations that differ from each other in the sum score. In a simulation study, we verify that our correction recovers the network structure of the desired population after a sum score selection using both a node-wise regression and a multivariate estimation of the Ising model. In an example, we show how our correction can be used in practice using empirical data on symptoms of major depression from the National Comorbidity Study Replication (N = 9,282). We implemented our correction in four commonly used R packages for estimating the Ising model, namely IsingFit, IsingSampler, psychonetrics, and bootnet
Estimation of Acute Infarct Core and Hypoperfused Region from Baseline Noncontrast Computed Tomography and Computed Tomography Angiography Scans of Patients with Ischemic Stroke
No full textBACKGROUND In acute ischemic stroke, the infarct core and hypoperfused regions are key indicators for assessing and prognosticating patients. They are typically estimated with computed tomography perfusion (CTP). However, because noncontrast CT and CT angiography are more widely available, we trained a neural network to estimate the ischemic lesion from noncontrast CT and CT angiography scans.METHODS In this retrospective study, an nnU-Net model was trained to estimate infarcted and hypoperfused regions from noncontrast CT and CT angiography using reference standards from a commercial CTP software (StrokeViewer). We included data from 859 patients for training and 137 for testing. We used data from the Collaboration for New Treatments of Acute Stroke consortium, including MR CLEAN (Multicenter Randomized Controlled Trial of Endovascular Treatment for Acute Ischemic Stroke in the Netherlands)-NO-IV, MR CLEAN-MED, MR CLEAN-LATE, and MR CLEAN-Registry, and a local cohort. In addition to testing our model against StrokeViewer, we also compared our results with 3 other commercial CTP software packages.RESULTS Our model achieves a Dice of 0.45 (95% CI, 0.39-0.50) for core and 0.66 (95% CI, 0.62-0.69) for hypoperfused region, underestimating core volume by -9.3 mL (95% CI, -12.5 to -6.1) and hypoperfused region volume by -12.9 mL (95% CI, -21.1 to -4.7) compared with StrokeViewer. When comparing the 4 CTP software packages together, the average of their 2-by-2 agreement ranges from a Dice of 0.22 to 0.28 for core, and a Dice of 0.50 to 0.56 for hypoperfused region. This is similar to the average agreement of nnU-Net with these 4 software packages (average Dice 0.27 for core and 0.56 for hypoperfused). Furthermore, nnU-Net produces fewer connected components (1.3 for core, 1.6 for hypoperfused) than the average of the 4 CTP software packages (60.8 for core and 110.8 and hypoperfused), indicating more cohesive segmentations.CONCLUSION Our model's performance in segmenting infarct core and hypoperfused regions from noncontrast CT and CT angiography is comparable to commercial CTP software packages, with potentially fewer segmentation artifacts. It can therefore be used when CTP is not available