Search results for " causality"
showing 10 items of 109 documents
Extended causal modeling to assess Partial Directed Coherence in multiple time series with significant instantaneous interactions.
2010
The Partial Directed Coherence (PDC) and its generalized formulation (gPDC) are popular tools for investigating, in the frequency domain, the concept of Granger causality among multivariate (MV) time series. PDC and gPDC are formalized in terms of the coefficients of an MV autoregressive (MVAR) model which describes only the lagged effects among the time series and forsakes instantaneous effects. However, instantaneous effects are known to affect linear parametric modeling, and are likely to occur in experimental time series. In this study, we investigate the impact on the assessment of frequency domain causality of excluding instantaneous effects from the model underlying PDC evaluation. M…
Testing different methodologies for Granger causality estimation: A simulation study
2021
Granger causality (GC) is a method for determining whether and how two time series exert causal influences one over the other. As it is easy to implement through vector autoregressive (VAR) models and can be generalized to the multivariate case, GC has spread in many different areas of research such as neuroscience and network physiology. In its basic formulation, the computation of GC involves two different regressions, taking respectively into account the whole past history of the investigated multivariate time series (full model) and the past of all time series except the putatively causal time series (restricted model). However, the restricted model cannot be represented through a finit…
Per una rilettura kantiana del principio di causalità
2018
There is no contradiction between Kant’s statement that the proposition, “every alteration has its cause,” is of no interest to the Critique of Pure Reason because of its dependence on empirical contents (KrV, B 3) and his use of the same proposition as an example of pure a priori knowledge (KrV, B 5). There is only the arduousness and sometimes also the ambiguity of a passage in which Kant attempts to establish a new basis for the validity of the principle of causality.
Specialization and herding behavior of trading firms in a financial market
2008
Agent-based models of financial markets usually make assumptions about agent’s preferred stylized strategies. Empirical validations of these assumptions have not been performed so far on a full-market scale. Here we present a comprehensive study of the resulting strategies followed by the firms which are members of the Spanish Stock Exchange. We are able to show that they can be characterized by a resulting strategy and classified in three well- defined groups of firms. Firms of the first group have a change of inventory of the traded stock which is positively correlated with the synchronous stock return whereas firms of the second group show a negative correlation. Firms of the third group…
Comparison of Functional Network Connectivity and Granger Causality for Resting State fMRI Data
2017
Functional network connectivity (FNC) and Granger causality have been widely used to identify functional and effective connectivity for resting functional magnetic resonance imaging (fMRI) data. However, the relationship between these two approaches is still unclear, making it difficult to compare results. In this study, we investigate the relationship by constraining the FNC lags and the causality coherences for analyzing resting state fMRI data. The two techniques were applied respectively to examine the connectivity within default mode network related components extracted by group independent component analysis. The results show that FNC and Granger causality provide complementary result…
A Cross-Country Study of Workers' Skills and Unemployment Flows
2017
Using an international survey that directly assesses the cognitive skills of the adult population, I study the relation between skills and unemployment flows across 37 countries. Depending on the specifically assessed domain, I document that skills have an unconditional correlation with the log-risk-ratio of exiting to entering unemployment of 0.65–0.68 across the advanced and skill-abundant countries in the sample. The relation is remarkably robust and it is unlikely to be due to reverse causality. I do not find evidence that this positive relation extends to the seven relatively less advanced and less skill-abundant countries in the sample: Peru, Ecuador, Indonesia, Mexico, Chile, Turkey …
Predictores y efectos de la repetición de curso
2018
About a third of Spanish students will have repeated at least one school year by the time they reach 16. It is claimed that alternative policies top grade repetition should seek to provide individualised treatment and ensure early intervention. In Spain, while there is empirical evidence in support of the benefits of the former, there is little for the latter. Here, we fill this gap by combining data from two international assessments. We identify the profile of students who a) are at greatest risk of grade retention and b) are most negatively affected by the policy. Our results confirm the importance of early intervention and the need to rethink grade repetition as a one-size-fits-all poli…
Personality traits and unemployment: Evidence from longitudinal data
2012
This study contributes to the literature on how personality is related to labour market success by providing evidence on the relationship between personality traits and unemployment. After accounting for reverse causality and measurement error, our results suggest that higher openness was associated with increased cumulative unemployment at the prime working age. It seems that this connection occurs because individuals with higher openness enter into unemployment spells more frequently – not because their unemployment spells would be particularly long. peerReviewed
A dynamic analysis of SP 500, FTSE 100 and EURO STOXX 50 indices under different exchange rates.
2018
In this study, we assess the dynamic evolution of short-term correlation, long-term cointe-gration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets from 1980 to 2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured in common and domestic currency terms, is conducted to evaluate comprehensively how exchange rate fluctuations affect the time-varying integration among the S&P 500, FTSE 100 and EURO STOXX 50 indices. The results obtained show that the dynamic correlation, cointegration and ECM-based long-run Gra…
Corruption-Related Disclosure in the Banking Industry: Evidence From GIPSI Countries
2022
This paper empirically investigates corruption-related disclosure in the banking industry, aiming to identify the most relevant theories which explain why financial institutions disclose corruption-related information to the public in their annual financial reports.Using a total sample of 88 banks from the GIPSI countries during the period 2011-2019, our results reveal that, on average, banks involved in corruption issues disclose less on corruption-related information than banks not involved in any corruption scandal. Moreover, banks not involved in corruption cases disclose even more information after other banks’ corruption events become public. These basic relationships, however, are sh…