Search results for "Econometric"
showing 10 items of 3780 documents
The Speed of Exchange Rate Pass-Through
2019
Abstract On January 15, 2015, the Swiss National Bank discontinued its minimum exchange rate policy of 1 euro against 1.2 Swiss francs. This policy change resulted in a sharp, unanticipated, and permanent appreciation of the Swiss franc by more than 11% against the euro. We analyze the pass-through of this unusually clean exchange rate shock into import unit values at the daily frequency using Swiss transaction-level trade data. Our key findings are twofold. First, for goods invoiced in euros, the pass-through is immediate and complete. Second, for goods invoiced in Swiss francs, the pass-through is partial and exceptionally fast: beginning on the second working day after the exchange rate …
Lampedusa humanitarian emergency in 2011: the case of unaccompanied migrant minors
2012
The purporse of this paper is to highlight the situation of the unaccompanied foreign minors in the Italian legal system, paying special attention to the Lampedusa humanitarian emergency in 2011. The paper examines the legal measures regulating the status of unaccompanied foreign minors in the Italian legal system, in order to understand if they are efficient in giving protection and offering integration to these minors. The papers offers insights into the most vulnerable category of illegal immigrants Purpose - The purpose of this paper is to highlight the situation on the unaccompanied foreign minors in the Italian legal system, paying special attention to the Lampedusa humanitarian emerg…
Is blockchain technology compatible with the Social and Solidarity Economy? Towards a new paradigm
2019
La significativa evolución que las tecnologías de la información han experimentado en los últimos años ha afectado a todos los sectores, incluido el de la Economía Social y Solidaria. El desarrollo emergente de la tecnología blockchain y sus posibilidades para modificar las formas de colaboración solidaria de la ciudadanía, presentan un reto actual y un cambio de paradigma para el Tercer Sector. El objeto del presente artículo es analizar las posibilidades existentes de que ambos ámbitos compartan valores, principios y objetivos. Para ello, en primer lugar y como punto de referencia, se presentan los conceptos de Economía Social y Solidaria y de blockchain. A continuación, se presentan las …
La tecnología Blockchain en la construcción de espacios económicos de impacto social positivo
2021
espanolEste trabajo realiza un estudio del universo de la tecnologia blockchain y su aplicacion en el mundo del siglo XXI a traves del analisis de diferentes espacios virtuales construidos con ella. El objetivo ultimo de este analisis es valorar y comprender las posibilidades que esta tecnologia aporta en la construccion de procesos con un alto impacto social y/o ambiental. A tal efecto, se lleva a cabo una investigacion exploratoria a traves del estudio de casos significativos o pioneros desde una perspectiva socio-tecnologica. Los resultados concluyen que, si bien en sus origenes la tecnologia blockchain se estructuro con una marcada perspectiva financiera, el transcurso del tiempo ha dem…
Multi-Destination Trips and Tourism Statistics: Empirical Evidences in Sicily
2012
Abstract The knowledge of the actual magnitude and main features of tourism flows in a given destination is an essential prerequisite for the evaluation of tourism impacts and externalities. Indeed, many pleasure trips are often characterized by the visit to more than a single destination. Although the topic is well-documented in literature, the empirical results are limited to a few pioneering studies. The lack may be attributable to the failure of tourism organizations to collect data on multi-destination trip behaviour. This can be seen, for example, in the system of European statistics on tourism (according to the Council Directive 95/57 EC), where information on the average number of v…
Transformation of the agricultural financial system in the age of globalisation
2017
The paper is an attempt to address the advantages and risks connected with the wave of financial globalisation, with a focus on its impact on financial policy in European agriculture. The aim of the paper is to identify the basic conditions of the functioning and change of the financial system of agriculture under the conditions of the globalisation of financial markets. Financial globalisation, also referred to as financial integration or openness, is understood as an increase in global ties and interdependences caused by capital flows. Potentially, globalisation can bring a lot of benefits, which are manifested in an acceleration of economic growth and decreased fluctuation in consumption…
Hedging spark spread risk with futures
2018
Abstract This paper discusses the spark spread risk management using electricity and natural gas futures. We focus on three European markets in which the natural gas share in the fuel mix varies considerably: Germany, the United Kingdom, and the Netherlands. We find that spark spread returns are partially predictable, and consequently, the Ederington and Salas (2008) minimum variance hedging approach should be applied. Hedging the spark spread is more difficult than hedging electricity and natural gas price risks with individual futures contracts. Whereas spark spread risk reduction for monthly periods produces values of between 20.05% and 48.90%, electricity and natural gas individual hedg…
Assessing the efficiency of Chilean water and sewerage companies accounting for uncertainty
2016
Abstract Efficiency assessment of water and sewerage companies (WaSCs) has attracted considerable attention both for water company managers and water regulators. Within the methodological approaches that can be applied to estimate efficiency scores, data envelopment analysis (DEA) is the most widely applied technique. In spite of the positive features of DEA, it presents a major drawback which is its deterministic nature. In other words, conventional DEA models do not account for uncertainty in the data. To overcome this limitation, we assess, for the first time, the efficiency of a sample of Chilean WaSCs by using a DEA model with statistical tolerance in the data. Hence, 81 efficiency sco…
Patterns of international capital flows and their implications for developing countries
2017
According to standard economic theory, capital should flow from rich to poor countries. However, a reverse pattern has prevailed in the world economy. This is the so-called Lucas paradox. In addition, it has been shown that, counterintuitively, there is a negative correlation between capital inflow and productivity growth across developing countries. This is the so-called allocation puzzle. This review sheds light on the following questions: “What are the patterns of international capital flows in the world economy?”, “What are the most plausible explanations for these patterns?”, and “What are the possible implications of these developments for developing countries?” In addition, the curre…
Knowledge Brokering in an Era of Communication Visibility
2020
This study presents an analysis of the extent to which enterprise social media (ESM) use enhances visibility of content (message transparency) and connections (network translucence) in organizations, and how this affects knowledge brokering. The findings support the theory of communication visibility by demonstrating that ESM use is associated with perceptions of message transparency and network translucence. Furthermore, the findings suggest that employees, regardless of their position within a network, are provided with a vision advantage and thus have the ability to engage in knowledge brokering. Future work needs to examine the impact of network characteristics on these effects. This a…