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DUAL EXCHANGE MARKETS AND INTERVENTION by
No full textIt is argued that the theoretical literature on dual exchange markets has completely neglected the form of central bank intervention emphasized by the "classics". They advocated neutral intervention where the central banK sells in the capital market all foreign exchange it acquires from the current transactions. Current literature concentrates on the non-sterilized intervention. In a choice-theoretic framework it is shown that the form of intervention matters very much for the transmission of changes in foreign rate of interest and in terms of trade. On normative side it is shown that one can always design the dual exchange system in such a way that it is J. Marcus Fleming emphasized that the dual exchange market does not work properly unless the following holds: "It is sometimes thought to be of the essence of the dual exchange market that the rate for capita
Liberalization Policies and Welfare in a Financially Repressed Economy: Comment on Kähkönen
No full textInternational Trade and Search
Get PDFThe standard model of international trade based on Dixit-Stiglitz theory of monopolistic competition originally developed by Helpman and Krugman is extended to allow for costly search and matching between producers of different varieties and retailers. This extension provides a new way of characterizing how the economy is divided in closed and open sectors. Trade policies will naturally have an effect on this division. The entry and exit of retailers and producers is modeled. It is shown that these (both gross and temporarily also net) flows (and the associated job flows) are affected by policies. Tariffs increase gross flows of retailers relative to producers. Gross flows will also be increased in the sector favored by policies. This provides a potentially fruitful hypothesis for empirical work. In contrast to the standard model, trade policies have also an effect on the scale of output by individual producers. Finally, the welfare effects of tariffs are surprising. Tariffs can improve welfare if they switch enough productive resources from the producers in the matching process relative to producers already matched and producing. This result is new to the literature.
The Intertemporal Effects of International Transfers
No full textThe classical transfer problem is studied in an overlapping generations framework, where the transfer is from a creditor country to a debtor country. A distinction is made between tax-financed and debt-financed transfers on the one hand, and between the uses of the transfer on the other hand. The transfer can be used to increase private income or to reduce government debt. It is first shown that the transfer can make the welfare change in the same direction in both of the countries, and that this possibility cannot be ruled out by stability condition. It is also shown that for all transfers the short run and the long run welfare effects; may be qualitatively different. The only form of transfer that in the long run surely increases welfare in the country receiving the transfer is the tax-financed debt-relief. But in the short run it will reduce the welfare in all countries. There exists thus a trade-off between short and long run welfare, since all other forms of transfers quarantee a short run welfare improvement for the receiving country. I am grateful to Professor Murray Kemp for comments that led me to write section IV of this essay. I want to thank Yrjo Jahnsson Foundation for financial help in preparing this essay.- 3-
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe 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
Get PDF“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
Get PDFWe 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
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