1,721,034 research outputs found
Winners and losers from sovereign debt inflows
Full text linkWe study the effects of sovereign debt inflows on domestic firms. To do so, we exploit episodes of large sovereign debt inflows, which follow the announcements of the inclusion of six emerging countries into major sovereign debt indexes. We find that these events reduce government bond yields, appreciate the domestic currency, and have heterogeneous stock-market effects on domestic firms. Firms operating in tradable industries experience lower returns than firms in non-tradable industries. In addition, financial firms, government-related firms, and firms that rely more on external financing experience higher returns. The effect on financial and government-related firms is stronger in countries that display larger reductions in government bond yields. The effect on tradable firms is stronger in countries that display stronger appreciations. We provide a stylized model that rationalizes these results. Our findings shed novel light on the channels through which sovereign debt inflows affect firms in emerging countries.Pandolfiand Williams acknowledge support from the Einaudi Institute for Economics and Finance (2017 EIEF research grant) and the Columbian College Facilitating Fund from George Washington University. Broner and Martin acknowledge support from the Spanish Ministry of Economy, Industry, and Competitiveness through the I + D Excelencia grant (ECO2016–79823-P), the Spanish Ministry of Science and Innovation through the Severo Ochoa Programme for Centers of Excellence in R&D grant (CEX2019–000915-S), the Generalitat de Catalunya (AGAUR grant 2017-SGR0–1393), the CERCA Programme/Generalitat de Catalunya, and the Barcelona GSE Research Network. Martin also acknowledges support from the European Research Council under EU Seventh Frame-work Programme (FP7/2007–2013) ERC Consolidator Grant (615651-MacroColl)
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
Essays in Banking
No full textEl tema de esta tesis es Banca, concentrándose específicamente en el tema de Crisis Bancarias. El Capitulo 1 estudia las crisis bancarias que ocurren debido a problemas de asimetría de información entre los tomadores de préstamos. Dentro del marco propuesto, asimetría de información significa que los títulos sobre préstamos que el banco vende pueden tornarse ilíquidos y/o que pueden ocurrir caídas súbitas en el precio de los títulos. El Capitulo 2 analiza la política de resolución de crisis y muestra como las acciones de un Prestamista de Última Instancia durante una crisis pueden afectar la incidencia/probabilidad de sufrir futuras crisis bancarias. En particular, un Prestamista de Última Instancia más generoso puede contribuir a reducir la frecuencia de las crisis dado que los bancos eligiran proyectos más seguros. El ultimo capitulo de esta tesis vuelve a considerar el tema de la venta de préstamos, a través de títulos emitidos por el banco. En este capítulo se derivan aquellas condiciones para las cuales el mercado es sostenible, en el caso de que exista daño moral por parte de los bancos que realizan los préstamos. En una sección empírica mostramos que hay una relación negativa entre la fracción de préstamos retenida y la probabilidad de default.The theme of this thesis is Banking, concentrating on banking crises. The first chapter looks at banking crises which occur because of problems of asymmetric information about borrowers. The asymmetric information means that the loan securities that the bank sells can become illiquid and there are sudden drops in securities prices. The second chapter looks at a crisis resolution policy and shows how the actions of the Lender of Last Resort in a crisis can affect the incidence of future banking crises, in particular that a more generous Lender of Last Resort can lead less frequent crises as banks choose safer projects. The final paper returns to the theme of loan sales. We derive conditions for when the market is sustainable in the face of moral hazard by the bank which makes the loan. In an empirical section we show that there is a negative relationship between the fraction of a loan retained and the probability of defaultPrograma de doctorat en Economia, Finances i Empres
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
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
Essays on learning, information, and expectations in macroeconomics and finance
No full textThis dissertation focuses on learning and expectations formation in Macroeconomics and Finance and the role of information production in shaping macroeconomic fluctuations. The first chapter provides a theory of information production to explain two features of modern business cycles. In my theory information is produced along two dimensions, a pro-cyclical quantitative margin and a counter-cyclical qualitative margin, that generates both slow recoveries and episodes of ”rational exuberance” where optimistic booms tend to end in crises. The second chapter provides supporting evidence for the proposed cyclical variation in private information production using term loan data in the United States. Finally, the third chapter documents biases in terms of over-optimism and overconfidence in forecasts of real GDP growth from the survey of professional forecasters in the United States.Esta tesis estudia la formación de expectativas macroeconómicas y financieras y en el rol que tiene la producción de información sobre las fluctuaciones económicas. El primer capítulo desarrolla una teoría de la producción de información que genera una economía con recuperaciones lentas y ”booms” económicos que terminan en crisis económicas. En mi teoría, la información es producida a través de dos mecanismos, la cantidad de información producida es pro-cíclica y la calidad de la información es anti-cíclica. El segundo capitulo presenta evidencia usando datos de préstamos a plazos en EE.UU. para medir la producción de información privada durante el ciclo económico. Finalmente, el tercer capítulo documenta sesgos en términos de exceso de optimismo y exceso de confianza en las predicciones de crecimiento del PBI real usando la ”Survey of Professional Forecasters” en el Estados Unidos.Programa de doctorat en Economia, Finances i Empres
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