1,720,981 research outputs found
Will the Bail-in Break the Vicious Circle Between Banks and their Sovereign?
No full textIn December 2013 the European Commissioner Barnier, presenting the
Single Resolution Mechanism for the resolution and recovery of banking crises, said
it will “break the vicious circle between banks and their sovereigns”. But is there
any vicious circle? And if so, will resolution tools be able to break it? In literature,
the circular nature of the relationship between banking and sovereign debt crises
has not yet been properly addressed. Indeed, most papers exclusively focus on one
channel of transmission, either quantifying the effects that banking crises have on
public finances or analyzing when banking crises may cause sovereign debt crises (or
vice-versa). In this paper we propose a computational approach to quantify the effects
of this circular relationship and to highlight how sovereign and bank riskiness may
increase because of their interconnection. We quantify the effects of bank distress on
the banking system itself, passing through the higher public deficit induced by State
support, and the subsequent haircut in government bonds.We then test the effectiveness
of the bail-in tool proposed in the Single Resolution Mechanism context. The method
is tested on four European countries. Results show that, while limited crises tend
to be absorbed by the system, serious crises tend to exacerbate at each turn, so that
it becomes impossible to stop them without external intervention. Moreover, results show that a bail-in of 8%of total bank balance sheet can be really effective in breaking
the vicious circle and preventing contagion between banks and public finances. This
finding supports the bail-in as a valid instrument to avoid taxpayers paying the bill of
banking crises
European deposit guarantee schemes: revision of risk based contributions using CDS spreads
No full textDeposit Guarantee Schemes (DGS) aim at protecting depositors of all credit institutions against bank failures. One of the most critical issues about DGS concerns the criteria to be used to assess the risk‐based contribution that each member bank should pay to the Scheme. We propose an alternative model for risk-based contributions based on CDS spreads. We construct the same balance sheet ratios used in the Italian DGSs for a sample of EU banks issuing CDSs. Subsequently we perform panel regressions to explore the relationship between CDS spreads and balance sheet indicators. Results are used to construct an Aggregate Indicator of bank riskiness that is compared with the Aggregate Indicator currently used in the analyzed DGS
Area di San Nicolò – Ex Stalag. Statuto narrativo fra tracce fisiche e intrecci immateriali
No full textUrban re-composition
No full textRe-compose in an urban context means tending towards a state where the relations among the parts are resolved in a new form of
recognizable articulation. The prefix re, which precedes the word composition, should be intended as a metaphor for a therapeutic
tactic necessary to heal and repair the space of the city. Since a systematic action applied to a single building is unthinkable, the
transformation inevitably passes through a process of re-composition that carefully recognizes and defines the relations among
things more than the things themselves. The risk lies in considering the space-between as an unconstrained void, free to be filled.
Open space, instead, can have its own structure and articulation, primarily through the proximity relations that can be established.
The theme of distance plays a prominent role for several reasons, as demonstrated by the abundant literature on this argument.
Significant examples can be found in the research of authors united by their attention to the composition theme inherent to the idea of putting order between the parts of the city. Making the distance to the actual theme of the project confirms the importance
of revealing the compositional structure that defines the city.
Another decisive aspect lies in the diachronic character that urban
re-composition entails, imposing a strategy to show a hidden order
capable of considering the city’s materials as elements of a renewed composition
Considerazioni sui contenuti del libro
No full textConsiderazioni generali sui risultati progettuali delle Summer School "Heritage and Design" a Mantova del Dottorato di ricerca in Progettazione Architettonica e Urbana del Dipartimento DASTU del Politecnico di Milano
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
Porto Catena - Anconetta. Temi di rigenerazione urbana per la periferia storica. Porto Catena - Anconetta. Themes of urban regeneration for the historic suburbs
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