1,720,986 research outputs found
Monetary aggregates and business cycle in the Argentine economy. A small open economy model with endogenous money multiplier and currency substitution
Full text linkTreballs Finals del Màster d'Economia, Facultat d'Economia i Empresa, Universitat de Barcelona, Curs: 2020-2011, Tutor: Sergi BascoThe procyclical nature of monetary aggregates has been one of the main topics of debate in monetary economics. Most of literature adopts some strategy that involves nominal rigidities or market imperfections in order to explain the causal role that monetary factors play in determining real economic activity. In this thesis I provide a novel explanation to the positive relationship between monetary and real variables in a context of full flexible prices and competitive markets. By adding currency substitution into a standard small open economy RBC model with endogenous money multiplier, the model manages to replicate the positive relationship between monetary aggregates and output in the Argentine economy under different exchange rate regimes. The model also explains the switch in the correlation between the money multiplier and output when exchange rate regime changes. Under a fixed exchange rate regime, the reverse causality mechanism works, and the positive correlation between monetary aggregates and output is driven by the money multiplier. When exchange rate is full flexible, the money multiplier reacts negatively to the productivity shock, and the positive correlation is explained by the currency substitution effect
Is there a (new) bubble in the US housing market? An empirical specification to identify rational housing bubbles
Full text linkTreballs Finals del Màster d'Economia, Facultat d'Economia i Empresa, Universitat de Barcelona. Curs: 2020-2022, Tutor: Sergi Basco MascaróFor the last two years (2020 and 2021), real home prices have risen enormously in the United States. Indeed, the peak prices of 2021 were even more prominent than those experienced during the last housing bubble, which burst in 2006. Thereby, one relevant question strongly arises: has it emerged a new housing bubble in the US economy? Based on previous academic rational bubble theoretical frameworks and the current account identity, this study demonstrates empirically that such a recent and extreme appreciation trend is not a consequence of a rational housing bubble. Through an OLS panel regression model it is applied an empirical test on three different periods of interest: the Dot-Com Bubble (1996-2000), the Housing Bubble (2002-2006), and the COVID-19 explored episode (2020-2021). From 2020 to 2021 and during the Dot-Com Bubble, an insignificant statistical influence of the US foreign capital inflows is detected on the real house price evolution. While at the same time, in the course of the Housing Bubble, such an effect of the international capital movements on the housing appreciation is statistically significant. Following the previous literature, this empirical evidence identifies the Housing Bubble as the only analysed period containing a rational bubble in the housing market. Consequently, as a result, the Dot-Com Bubble and the years under COVID-19 are not detected as rational housing bubble episodes. This categorization of the Dot-Com Bubble and the Housing Bubble is consistent with earlier academic research.
Hence, the reported novel findings related to 2020 and 2021 are endowed with important
credibility since the used empirical strategy can accurately classify prior documented rational bubble events. Moreover, these results exhibit a solid validity after applying several robustness tests. Thus, this analysis offers the first comprehensive empirical evidence postulating that a rational bubble did not emerge in the US housing market during the first two years of the COVID-19 pandemic
Monetary aggregates and business cycle in the Argentine economy. A small open economy model with endogenous money multiplier and currency substitution
No full textTreballs Finals del Màster d'Economia, Facultat d'Economia i Empresa, Universitat de Barcelona, Curs: 2020-2011, Tutor: Sergi BascoThe procyclical nature of monetary aggregates has been one of the main topics of debate in monetary economics. Most of literature adopts some strategy that involves nominal rigidities or market imperfections in order to explain the causal role that monetary factors play in determining real economic activity. In this thesis I provide a novel explanation to the positive relationship between monetary and real variables in a context of full flexible prices and competitive markets. By adding currency substitution into a standard small open economy RBC model with endogenous money multiplier, the model manages to replicate the positive relationship between monetary aggregates and output in the Argentine economy under different exchange rate regimes. The model also explains the switch in the correlation between the money multiplier and output when exchange rate regime changes. Under a fixed exchange rate regime, the reverse causality mechanism works, and the positive correlation between monetary aggregates and output is driven by the money multiplier. When exchange rate is full flexible, the money multiplier reacts negatively to the productivity shock, and the positive correlation is explained by the currency substitution effect
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
La decisión de Christine: el BCE sube tipos, al menos por ahora
Full text linkLa quiebra de dos bancos estadounidenses y la crisis de confianza de Credit Suisse no han sido razones suficientes para que el BCE se aleje de la senda de subida de tipos iniciada hace ya casi un año para contener la inflación en la zona euro
Previsiones del FMI para 2023: Sin brotes verdes en el horizonte
Full text linkEl FMI presenta su informe de previsiones económicas para 2023 con revisiones a la baja y la vista puesta en el crecimiento en los precios. A los países les recomienda contención presupuestaria
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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