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Essays on Non-linearities in Macroeconomics
Full text linkThis dissertation consists of three essays studying different topics in macroeconomics under the common aim of assessing the role of nonlinear dynamics in explaining selected facts of interest.
In Chapter 1, co-authored with Marzio Bassanin and Ester Faia, we explore the linkages between financial crises and debt markets, where collateral constraints and opacity of asset values are the norm. We, therefore, introduce ambiguity attitudes in beliefs formation in a small open economy model where borrowers investing in risky assets face occasionally binding collateral constraints. We estimate the ambiguity attitudes process and derive that borrowers endogenously act optimistically in booms and pessimistically in recessions. Analytically and numerically we show that our ambiguity attitudes coupled with the collateral constraints crucially help explaining asset price and debt cycle facts.
Chapter 2 studies the pass-through of sovereign risk in an environment where latent condence factors, along with fundamentals, might feed debt crises. A Markov-switching VAR with three variables (private spread, sovereign spread, debt-to-GDP) is estimated on fiscally-leveraged economies (Italy, Spain, Portugal). By allowing fiscal and financial sources of amplication, the model historically identies: i ) an high vulnerability regime, where sovereign spreads show excessive sensitiveness to fiscal imbalances. Those periods line up mostly with the global financial turmoil and the sovereign European debt crisis; ii ) an high synchronization regime where the sovereign and financial risk measures are strongly tied in a synchronized comovement. Those period identify more the first phases of the two crises.
Finally, Chapter 3, co-authored with Othman Bouabdallah and Pascal Jacquinot, aims to extract an empirical narrative for France on the relationship between fiscal policy and debt sustainability, in the context of fiscal regimes. We build a DSGE model, where Markov-switching dynamics are introduced on the tax revenues response to debt, expenditure and output gap. We then bring the model to the data and show that two distinct fiscal regimes took place over the period 1955-2009: a sustainable regime covered `Les Trente Glorieuses' until 1977 and then re-emerged in 1999 with the euro membership; an unsustainable regime, instead, characterised the 1978-1998 period, where a policy mix of disinflation, external and internal balance led to primary deits and unstable debt-to-GDP accumulation
Introduction
No full textIn contrast to the reorientation of political economy implemented by
Keynes with his General Theory less than seven years after the 1929 Wall
Street crash, no substantial change in the mainstream approach to economics
can be detected twelve years after the collapse of Lehman Brothers.
The same Dynamic Stochastic General Equilibrium (DSGE) model
which had been unable to anticipate the crisis still rules research, teaching
and economic policy, only marginally modified to take account of the most obvious flaws of the economic system. In this intellectual environment,
going back to past authors may be of some help, not to fuel
nostalgia for times gone by but to explore modern economic issues along
new perspectives—in short to build theory and understand facts. This is
the task of the history of economic thought, when it is not understood as
a graveyard for respected albeit no longer read authors but as a living corpus
of debates on the same old issues shrunk and distorted by the present
mainstream
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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