1,488 research outputs found
Interview with Jean Francois Revel, author
No full textJean Francois Revel, the author of Without Marx or Jesus, has been quoted as saying, "The United States is now a microcosm for all of the problems man faces." In this interview with Meredith Watts, he discusses a new kind of revolution which could produce successful change without violent upheavalGrayscaleSoun
Indirect effects - a formal definition and degrees of dependency as an alternative to technical coefficients
No full textThe use of input-output analysis for the computation of secondary effects of final demand changes is well-known. These 'final demand effects' can be calculated using technical coefficients and the inverse of the Leontief matrix. This paper offers an alternative to the use of technical coefficients. Its goal is threefold. First of all degrees of dependency are defined and it is shown how they can be used to compute secondary effects. Their definition is based on an input-output table. Secondly the concept of secondary effects is extended to what is called indirect effects. These indirect effects are not only related to final demand but to total industry output. It is shown how these indirect effects can be calculated using technical coefficients or degrees of dependency. The method used is a variant of the so-called Hypothetical Extraction Methods. Double counting is avoided, as such the resulting multipliers are 'net multipliers'. It is formally demonstrated that technical coefficients and degrees of dependency give the same results when a recent input-output table is available. If this is not the case then the results are different. It is impossible to say which of the two estimates is better. Since technical coefficients are already broadly accepted, some examples are given to justify the use of degrees of dependency. Finally it is explained how the unavailability of an input-output table can be solved. Starting from the supply-use tables a 'quick and dirty method' to infer an input-output table is provided. This topic is justified by the fact that for Belgium input-output tables are only published for those years that are divisible by five, with a three year lag. A short empirical analysis, based on currently available data, shows that technical coefficients and degrees of dependency have comparable performance, with a slight advantage for the technical coefficients. This performance is measured relative to a 'right' result, being the indirect effects for the year 2000 computed using the now available input-output table for the year 2000. This result is called 'right' because it does not make any assumptions on stability of technical coefficients nor of degrees of dependency. The empirical analysis also compares the use of a recent supply-use table to the use of an old input-output table. Supply-use tables on average overestimate the 'right' result. They are however often closest to the 'right' result at the first level. Since these conclusions are based on limited data further analysis is required as more data becomes available.indirect effects, input-output analysis, degrees of dependency, technical coefficients, net multiplier
The single European electricity market: A long road to convergence. NBB Working Paper Nr. 84, May 2006
No full textIn the context of a first Working Paper the authors argued that electricity has a number of characteristics that set it apart from other commodities. It was demonstrated that some of these characteristics might complicate the deregulation process. This paper analyses the ongoing deregulation process in the European electricity sector and attempts to establish whether these difficulties can more readily be solved at European level. It would appear that some problems, e.g. economies of scale in electricity generation, have less of an impact at European level than within smaller national markets. However, a number of difficulties have to be overcome before a unified European electricity market can become a reality. These include the limited interconnection capacities between Member States. The European Commission has taken steps to improve the situation, for example by offering financial support for investments and promoting the development of regional markets as an interim measure ultimately leading to a fully integrated market. Apart from the difficulties related to electricity generation and transmission there are also exogenous factors that influence the ongoing deregulation process, e.g. the implementation of the Kyoto protocol and the dramatic increases in primary fuel prices. This paper argues that a consistent, stable and uniform European regulatory framework must be put in place if the impact of these difficulties is to be minimised
Beauregard House
No full textGeneral view; The architect Francois Correjolles, whose creole French family emigrated from St. Domingue (Haiti), added new American Federal elements while preserving some of the traditional creole plan. The Beauregard-Keyes House, built in 1826 for wealthy auctioneer Joseph Le Carpentier, is a fine example of a raised, center-hall house. It is named for two of its former tenants, Confederate General Pierre Gustave Toutant (P.G.T.) Beauregard and author Frances Parkinson Keyes. General Beauregard lived in the home from 1866 to 1868 while he was president of the New Orleans, Jackson, and Great Northern Railroad. The home features twin curved staircases, leading to a Tuscan portico. The garden's design duplicates the original 1865 plans. (Common Routes: St. Domingue-Louisiana exhibition, 2006) Source: Historic New Orleans Collection [website]; http://www.hnoc.org/ (accessed 1/24/2008
Alien theory : the decline of materialism in the name of matter
No full textThe thesis tries to define and explain the rudiments of a 'nonphilosophical'
or 'non-decisional' theory of materialism on the basis of a
theoretical framework provided by the 'non-philosophy' of Francois
Laruelle. Neither anti-philosophical nor anti-materialist in character, non-materialism
tries to construct a rigorously transcendental theory of matter by
using certain instances of philosophical materialism as its source material.
The materialist decision to identify the real with matter is seen to retain a
structural isomorphy with the phenomenological decision to identify the real
with the phenomenon. Both decisions are shown to operate on the basis of a
methodological idealism; materialism on account of its confusion of matter
and concept; phenomenology by virtue of its confusion of phenomenon and
logos. By dissolving the respectively 'materiological' and
'phenomenological' amlphibolies which are the result of the failure to effect a
rigorously transcendental separation between matter and concept on the one
hand; and between phenomenon and logos on the other, non-materialist
theory proposes to mobilise the non-hybrid or non-decisional concepts of a
'matter-without-concept' and of a 'phenomenon-without-logos' in order to
effect a unified but non-unitary theory of phenomenology and materialism.
The result is a materialisation of thinking that operates according to matter's
foreclosure to decision. That is to say, a transcendental theory of the
phenomenon that licenses limitless phenomenological plasticity,
unconstrained by the apparatus of eidetic intuition or any horizon of
apophantic disclosure; yet one which is simultaneously a transcendental
theory of matter, uncontaminated by the bounds of empirical perception and
free of all phenomenological circumscription
"The performance of credit rating systems in the assessment of collateral used in Eurosystem monetary policy operations." NBB Working Paper No. 118, September 2007
No full textThe aims of this paper are twofold: first, we attempt to express the threshold of a single “A” rating as issued by major international rating agencies in terms of annualised probabilities of default. We use data from Standard & Poor’s and Moody’s publicly available rating histories to construct confidence intervals for the level of probability of default to be associated with the single “A” rating. The focus on the single A rating level is not accidental, as this is the credit quality level at which the Eurosystem considers financial assets to be eligible collateral for its monetary policy operations. The second aim is to review various existing validation models for the probability of default which enable the analyst to check the ability of credit assessment systems to forecast future default events. Within this context the paper proposes a simple mechanism for the comparison of the performance of major rating agencies and that of other credit assessment systems, such as the internal ratings-based systems of commercial banks under the Basel II regime. This is done to provide a simple validation yardstick to help in the monitoring of the performance of the different credit assessment systems participating in the assessment of eligible collateral underlying Eurosystem monetary policy operations. Contrary to the widely used confidence interval approach, our proposal, based on an interpretation of p-values as frequencies, guarantees a convergence to an ex ante fixed probability of default (PD) value. Given the general characteristics of the problem considered, we consider this simple mechanism to also be applicable in other contexts
The performance of credit rating systems in the assessment of collateral used in Eurosystem monetary policy operations
No full textThe aims of this paper are twofold: first, we attempt to express the threshold of a single “A” rating as issued by major international rating agencies in terms of annualised probabilities of default. We use data from Standard & Poor’s and Moody’s publicly available rating histories to construct confidence intervals for the level of probability of default to be associated with the single “A” rating. The focus on the single A rating level is not accidental, as this is the credit quality level at which the Eurosystem considers financial assets to be eligible collateral for its monetary policy operations. The second aim is to review various existing validation models for the probability of default which enable the analyst to check the ability of credit assessment systems to forecast future default events. Within this context the paper proposes a simple mechanism for the comparison of the performance of major rating agencies and that of other credit assessment systems, such as the internal ratings-based systems of commercial banks under the Basel II regime. This is done to provide a simple validation yardstick to help in the monitoring of the performance of the different credit assessment systems participating in the assessment of eligible collateral underlying Eurosystem monetary policy operations. Contrary to the widely used confidence interval approach, our proposal, based on an interpretation of p-values as frequencies, guarantees a convergence to an ex ante fixed probability of default (PD) value. Given the general characteristics of the problem considered, we consider this simple mechanism to also be applicable in other contexts.credit risk, rating, probability of default (PD), performance checking, backtesting
The ethical and moral-based dimension of leadership in CSR-oriented strategies and sustainable entrepreneurship
No full textThis chapter addresses the theme of leadership and its influence on corporate social
responsibility (CSR) and sustainability-oriented strategies. Specifically, it aims to analyse,
through a deductive and literature-based approach, the relevance of the ethical and moral
leadership models with respect to the diffusion of CSR and sustainable entrepreneurship. Linking ethical and moral-based leadership to the CSR and sustainable entrepreneurship discourse allows us to point out the relevance of an authentic orientation in supporting
change and fostering sustainable entrepreneurship The theoretical construct of responsible and sustainable leadership derives from the
intersection of the moral-based leadership concepts with those of CSR and sustainable
entrepreneurship..Drawing from these premises, this chapter seeks to identify leadership models and
attributes consistent with (and necessary to develop) an authentic CSR-oriented strategy
and able to foster sustainable entrepreneurship.
Accordingly, in this chapter, we argue that leadership represents a key aspect that
warrants more research within both CSR and sustainable entrepreneurship studies. The
research questions that orients this study can be summarised as follows: Which leadership
models favour authentic CSR practices? Are moral, ethical-based and virtues-based models
of leadership effective in developing CSR and fostering sustainable entrepreneurship?
These questions guide the critical review of the different leadership approaches, bringing
attention to the models that are most coherent in regard to the actual socio-economic
context which requires managers and entrepreneurs to govern the internal and external
complexity and actively contribute to sustainability. The methodological approach is
mainly based on a literature review that surveys critical points in current literature that is
relevant to the topic.
The work is structured as follows. First, we offer an analysis of the leadership theoretical
framework in the context of the CSR debate. We begin with a brief methodological
note, followed by an analysis of the antecedents of CSR and sustainable entrepreneurship
in terms of values and virtues.
Second, a review of relevant literature on leadership approaches and models consistent
with the CSR and sustainable entrepreneurship discourse is presented, emphasising the relationship between transformational, moral and virtues-based leadership and
CSR-oriented strategies and sustainable entrepreneurship. Drawing from the analysis,
four main propositions are introduced. The final sections illustrate the propositions and
summarise the implications and limitations of the study
The medieval forms and meanings of Francois: The political and cultural vicissitudes of an ethnonym
No full textThe article looks at the evolution of the ethnonym Francois in the Middle Ages and its significance to Germanic peoples known as Franks in the context of their cross-cultural relations with Muslim, Byzantine and British people. The author analyzes chronicles of the First Crusade and examines the use of Francois as an exonym and an autonym, and its role in the development of the French identity
Henri Matisse Drawing: An Eye-Hand Interaction Study Based on Archival Film.
No full textHenri Matisse (1869-1954) attached fundamental importance to his drawings, in particular to the famous Themes et Variations series. These were accomplished following a precise method, starting with arduous life studies and evolving into brilliant spontaneous drawings. A 1946 archival documentary film showing the artist drawing four portraits of his grandson Gerard was shot in such a way as to allow the present author to undertake a detailed eye-hand interaction analysis of the drawing process.
It was found that Matisse’s temporal working rhythm and use of motor memory resulted in a more direct approach than that used by most painters. Taken together with remarks the artist made throughout his lifetime, these results provide a cognitive interpretation of his drawing method
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