1,720,978 research outputs found
Financial fragility and credit risk: A simulation model
No full textFinancial and economic crises are not always the same. It is important to understand why some episodes of crisis generate prolonged and systemic recessions. Developing the Financial Instability Hypothesis, Hyman Minsky introduced the idea that in periods of stability, financial actors tend to increase their risk exposure, moving from a stable hedge-dominated structure to an unstable one, characterized by speculative and ultra-speculative (Ponzi) financial positions: hence, stability turns out being destabilizing. Starting from the three different relationships introduced by Minsky (income-debt-hedge, speculative and Ponzi) for financial units, we involve a simple partial equilibrium agent-based model in which firms, the banking sector, the real and financial sides of the economy, interact. This theoretic framework is used as computational laboratory to extend the migration rates open system modeling based on the E(ntry)-S(tay)-L(eave) processes by considering the economic system, the business cycle and with attention to so-called zombie-firms
Ponzi and zombies: The risk of over-indebtness of the private sector
No full textFinancial and economic crises are not always the same, and only some of
them have a radical and persistent impact on the economic system and on the
well-being of the community. For this reason it is important to understand
why only some episodes of crisis generate prolonged and systemic recessions.
In this respect, [2, 3] has introduced the idea that in periods of stability,
financial actors tend to increase their risk exposure, moving from a stable
hedge-dominated structure to an unstable one characterised by speculative
financial position and Ponzi: stability would be destabilising.
As a response of the Great Recession and of the most recent Covid-19 economic
crisis, several central banks opted for a liquidity injection as a stimulus
for the economy and to prevent systemic collapse. However, although not
with the same intensity, these non-conventional expansive monetary policies
had been pursued also during the period of “tranquility” between 2014 and
the beginning of 2020, facilitating the access to credit over a wide spectrum
of solvability degrees.
Starting from the three different relationships presented by Minsky (incomedebt-
hedge, speculative and Ponzi) for financial units, we develop a simple
partial equilibium agent-based model in which firms, the banking sector, the
real and the financial side of the economy interact. This theoretical framework
allows to extend the migratory microsimulation models based on the
E(ntry)-S(tay)-L(eave) scheme of [1] by considering the economic system, the
business cycle and by simulating the heterogeneity in firms’ creditwothiness
κ-generalized models of income and wealth distributions: A survey
No full textThe paper provides a survey of results related to the "κ-generalized distribution", a statistical model for the size distribution of income and wealth. Topics include, among others, discussion of basic analytical properties, interrelations with other statistical distributions as well as aspects that are of special interest in the income distribution field, such as the Gini index and the Lorenz curve. An extension of the basic model that is most able to accommodate the special features of wealth data is also reviewed. The survey of empirical applications given in this paper shows the κ-generalized models of income and wealth to be in excellent agreement with the observed data in many cases
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
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
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