Search results for "Econometric"
showing 10 items of 3780 documents
Speculation and Lottery-Like Demand in Cryptocurrency Markets
2020
This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns are rather short-memory processes in their nature, we modify Bali et al.’s (2011, 2017) MAX measure and employ a weekly forecast horizon and last week’s daily log-returns for calculating the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk adjusted return differences between cryptocurrencies in the lowest and highest MAX deciles exceed 1.50% per week. These re…
Cryptocurrencies in the Light of Money Definitions
2020
Purpose: The aim of the article is to attempt to assess the phenomenon of digital currencies through the prism of existing money definitions as well as to determine to what extent the existing definitions of money are able to answer the question whether private decentralized digital currencies are money in the traditional sense or are they a completely new phenomenon that cannot be put in the framework of previous definitions of money. Design/methodology/approach: This study provides a critical literature review of the cryptocurrency’s definitions in comparison to traditional money definition. The literature review was intended to determine whether bitcoin could be treated as money. Finding…
Cryptocurrency Perception Within Countries: A Comparative Analysis
2020
Purpose: The paper explores the differences between countries concerning perception and use of traditional and virtual money. We try to answer the question who uses virtual money for investment and building assets and who uses it just for Internet payments. The background of the analysis are significant changes that have taken place in the virtual money market in recent years in relation to changes in the global financial market. Design/methodology/approach: A pilot study was conducted in Poland, the Russian Federation, and China, which is supposed to be an introduction to the bigger and wider survey. It was conducted within December 2019 and January 2020 with 81 surveyed persons. These wer…
Contrainte de crédit et convergence vers la frontière technologique: Qu'en est-il des pays de la Zone CFA ?
2014
EnglishThis work aims to study the effects of credit-market imperfection on the convergence of the cfa zone to the frontier growth rate. It focuses on the fact that a less efficient credit market is a constraint that prevents these countries to benefit from technology transfer and causes them to deviate from the frontier of growth. The empirical approach based on generalized method of moments (gmm) in dynamic panel shows that a low level of financial development significantly slow the rate of convergence of these countries. francaisCe travail a pour objectif d’etudier les effets de l’imperfection du marche du credit sur la convergence des pays de la communaute financiere africaine (cfa) ver…
Credit-Based Insurance Scores: some Observations in the Light of the European General Data Protection Regulation
2020
Despite the differences between credit risk and insurance risk, in many countries large insurance companies include credit history amongst the information to be taken into account when assigning consumers to risk pools and deciding whether or not to offer them an auto or homeowner insurance policy, or to determine the premium that they should pay. In this study, I will try to establish some conclusions concerning the requirements and limits that the use of credit history data by insurers in the European Union should be subject to. In order to do this, I shall focus my attention primarily on Regulation (EU) 2016/679. This regulation, that came into force on 24 May 2018, not only forms the ba…
¿Movilidad inclusiva o accesibilidad inclusiva?
2017
<p>“La movilidad inclusiva” es parte de las prioridades políticas definidas por numerosos países europeos para referirse a la dimensión social del transporte o las políticas de movilidad cotidiana. De forma general, la inclusión se refiere a la cohesión social, que ha sido uno de los objetivos declarados de la Unión Europea desde el inicio de los años 2000. Como mecanismo para facilitar el acceso a las oportunidades (empleo, comercio, servicios, etc.), la movilidad individual es actualmente considerada un prerrequisito necesario para la participación de las personas en las actividades sociales. En contraste, la inmovilidad o “ausencia de movilidad” sería un factor de exclusión social.…
La consagración de los derechos fundamentales: de principios generales a texto fundacional de la Unión Europea
2014
<p>El autor argumenta que el reconocimiento formal de los derechos fundamentales como parte de los fundamentos comunes de la UE mediante la remisión a la Carta de los Derechos Fundamentales en el Tratado de Lisboa (otorgándole carácter vinculante y, por ende, elevando su rango y confiriéndole el mismo valor jurídico que los Tratados) ha proporcionado una mayor apariencia constitucional a la UE, pero no un nivel más generoso de protección y de disfrute de la ciudadanía. En efecto, además de haber prescindido de garantías específicas, la Carta de la UE ha introducido diversas asimetrías inaceptables, tales como la quiebra del principio de indivisibilidad (los derechos civiles y los soci…
Socio-spatial differentiation in transition: a preliminary comparative analysis of post-soviet St Petersburg and Riga
2020
Research into the socio-spatial dynamics in Central European cities is an important area of contemporary transition studies. Open issues in this domain range from defining a theoretical framework to data availability and methodological approaches. As to the former aspect, recent literature focuses on the hybrid nature of the post-socialist urban space, which underwent modernization in the conditions of globalization and economic liberalization; the earlier model of spatial development changed dramatically as a result. The multi-scalar and comparative approaches may shed new light on the complex patterns of urban socio-spatial differentiation and its post-Soviet dynamics. Growing regional so…
Migrant Friendships in a Super-Diverse City. Russian-Speakers and their Social Relationships in London in the 21st Century
2017
The book is built on excellent premises which include a super-diverse city, a highly heterogeneous migrant population, as well as a post-Soviet cultural background which embeds two opposed tendenci...
Digital Banking in Northern India: The Risks on Customer Satisfaction
2021
The widespread use of digital technologies and the current pandemic (COVID) have fueled the need and call for digital transformation in the banking sector. Although this has various benefits, it is a disruption to the norm to which a bank customer has to become accustomed. This variance means that customers would have to make some changes to their routine. This can constitute risks in terms of maintaining customer satisfaction at previous levels. These risks are associated with customer retention because a service or product needs to be aligned with customer expectations to avoid them switching to other service providers. Moreover, it can also have an effect on reputa- tion. Offering digita…