Search results for " regime"
showing 10 items of 355 documents
Bilateral De-Jure Exchange Rate Regimes and Foreign Direct Investment: A Gravity Analysis
2021
Abstract This paper introduces a novel dataset on bilateral de-jure exchange rate regimes. The new dataset accounts for the fact that officially pegging to one currency is uninformative about the exchange rate regime prevailing vis-a-vis other currencies, and it allows characterizing bilateral exchange rate regimes based on countries’ ex-ante announcements rather than ex-post observations. We use this data to estimate the effect of expected exchange rate volatility on foreign direct investment (FDI). Starting from a simple model that suggests that announced exchange rate stability enhances bilateral FDI flows, we provide empirical evidence that lends support to this claim: countries that ar…
When do cooperation and commitment matter in a monetary union?
2013
International audience; This paper offers a framework to study strategic interactions between private players, national fiscal authorities and a common central bank in monetary unions. We establish general conditions, in terms of restrictions on spillover effects of actions by private and public players, under which games that differ in the degree of cooperation and commitment can admit the same equilibrium outcome. We use these conditions to characterize benchmark results on the irrelevance of cooperation and commitment established in recent literature. Moreover, we show for a general setting, in which the benchmark results do not apply, that gains from fiscal cooperation depend on the num…
Literacy in the cooperative sector evaluated through the reserve for cooperative education and training
2018
This study aims to evaluate the degree of legal-accounting literacy in cooperatives, having as an indicator the reserve for cooperative education and training, since this reserve is exclusive to the legal regime of cooperatives and which, due to its very specific purposes, presented itself as a mechanism that seeks to prevent or eliminate possible phenomena of illiteracy. This reserve ? which implements the cooperative principle of education, training and information ? addresses members, leaders and workers and aims to contribute to the development of the cooperative, by allowing the education of cooperators, an active membership, the professionalization of the employees and members of the …
Stock Returns and Exchange Rate Volatility Spillovers in the MENA Region
2010
In this article, we examine the presence of volatility spillovers between nominal exchange rates and stock returns in three MENA countries: Egypt, Morocco and Turkey. The multivariate GARCH model we use does not produce evidence of cross-market effects for the general stock indices returns. Nevertheless, bidirectional shock and volatility spillovers between exchange rates and stock returns exist at the industry sector level. These findings are more pronounced in Egypt and Turkey. The different results are due to the different exchange rate regimes/policies adopted by the three countries. While exchange rates in Egypt and Turkey were allowed to float, Morocco followed a more tightly managed…
Capacity Upper Bound of Channel Assembling in Cognitive Radio Networks with Quasistationary Primary User Activities
2013
In cognitive radio networks (CRNs) with multiple channels, various channel-assembling (ChA) strategies may be applied to secondary users (SUs), resulting in different achieved capacity. However, there is no previous work on determining the capacity upper bound (UB) of ChA for SUs under given system configurations. In this paper, we derive the maximum capacity for CRNs with ChA through Markov chain modeling, considering that primary user (PU) activities are relatively static, compared with SU services. We first deduce a closed-form expression for the maximum capacity in a dynamic ChA strategy and then demonstrate that no other ChA strategy can provide higher capacity than that achieved by th…
Joint Venture Formation Influencing Factors within the Aspect of Economic Policy Implemented in Belarus from EU Business Prospective
2013
The aim of the paper is to perform analysis from the EU business point of view about the particularities of the creation of joint ventures in the EU neighbour country Belarus. The possibilities of economic collaboration are studied in the frame of the impact of Belarus political regime on the entrepreneurship and business activities. The research is focusing on the factors influencing business environment. Even if the business environment due to the strong intervention of State in Belarus is not very favourable for the entrance of foreign investments, the main benefits for EU interests in this country are: the importance and size of this market and the possibilities to go through the Custom…
Fire in Protected Areas - the Effect of Protection and Importance of Fire Management
2012
Fires are important but socially and economically unwanted disturbances of the ecosystems. They cannot be considered as a problem, they are global phenomena. Protected areas are created to protect biodiversity, and strict protection is often applied, forgetting that fire had shaped that that we aim to protect. This harsh protection is producing important changes in the protected habitats and is increasing their vulnerability to destructive wildfires. Thus, it is of major interest to incorporate fire management in the protected areas plan, including the (re)use of prescribed fire and traditional burning in order to reintroduce fire regimens, fundamental to the landscape sustainability. This …
Previous fire occurrence, but not fire recurrence, modulates the effect of charcoal and ash on soil C and N dynamics in Pinus pinaster Aiton forests.
2021
Abstract Understanding the effects of fire history on soil processes is key to characterise their resistance and resilience under future fire events. Wildfires produce pyrogenic carbonaceous material (PCM) that is incorporated into the soil, playing a critical role in the global carbon (C) cycle, but its interactions with soil processes are poorly understood. We evaluated if the previous occurrence of wildfires modulates the dynamic of soil C and nitrogen (N) and microbial community by soil ester linked fatty acids, after a new simulated low-medium intensity fire. Soils with a different fire history (none, one, two or three fires) were heat-shocked and amended with charcoal and/or ash deriv…
Exchange Rate Volatility in the Balkans and Eastern Europe: Implications for International Investments
2016
Our paper’s objective is to study the volatility of exchange rates from the region that have not yet adopted the Euro and are not members of the Exchange Rate Mechanism II by considering the exchange rate regime and the implications of currency volatility for foreign capital flows. We model exchange rate volatility by using standard deviations of daily logarithmic changes in the exchange rates, rolling standard deviations, Hodrick-Prescott filters to detect the trends in volatility and ARIMA models. We find that currency volatility remains a strong issue for these countries and that central banks have attempted to manage it, particularly after the global financial crisis. Spikes in monthly …
“Generalist” Journals between Dissemination of Economics and Regime Propaganda
2019
Early in the 20th, generalist journals – a kind of press which had its major diffusion in the nineteenth century – continue to accommodate the contributions of economists offering a specific debating space. However, with the affirmation of fascist ideology, generalist periodicals progressively ceased to exist or to host economists’ articles. Thus, the main object of this research consists in clarifying what could be intended by “generalism” and in relation to which events and ideological pressures it disappeared as a different way to do journalism in a dialectic interplay with specialization. The paper reviews the panorama of generalist journals focusing on the impact of the Fascist regime …