Search results for "GDP"
showing 10 items of 81 documents
Secular Mean Reversion and Long-Run Predictability of the Stock Market
2013
Empirical financial literature documents the evidence of mean reversion in stock prices and the absence of out-of-sample return predictability over periods shorter than 10 years. The goal of this paper is to test the random walk hypothesis in stock prices and return predictability over periods longer than 10 years. Specifically, using 141 years of data, this paper begins by performing formal tests of the random walk hypothesis in the prices of the real S&P Composite Index over increasing time horizons up to 40 years. Even though our results cannot support the conventional wisdom which says that the stock market is safer for long-term investors, our findings speak in favor of the mean revers…
The challenge of personal data protection in the era of digital economy
2018
The actual impact and effectiveness of the GDPR that comes into effect on May 25, 2018 will only be evident in the course of next years. Today, however it is crucial to understand how will the GDPR change the EU data protection playfield and if the new regulation is capable to address growing personal data and privacy challenges emerging from further digitalisation in the long term. The research question of this paper is: How capable and effective is the newly adopted EU data protection legislation to address the growing future privacy and data protection concerns associated with expansion of the Digital Economy?
Co-Evolutionary Coupling via a Digital-bio Ecosystem : A Suggestion for a New R&D Model in the Digital Economy
2019
A solution to the critical problem of a dilemma between R&D expansion and productivity decline that a majority of information and communication technology (ICT) leaders have been confronting in the digital economy is expected. It can be expected by a spinoff from economic functionality-seeking GDP-based coevolution cycle to supra-functionality beyond an economic value-seeking uncaptured GDP-driven coevolution cycle. However, the transformation dynamism remains a black box. By means of numerical simulations based on empirical analyses of the development trajectories of global ICT leaders, focusing on Amazon and Finland, together with an intensive review of preceding analyses, this paper atte…
Risk Management Optimization for Sovereign Debt Restructuring
2015
Abstract Debt restructuring is one of the policy tools available for resolving sovereign debt crises and, while unorthodox, it is not uncommon. We propose a scenario analysis for debt sustainability and integrate it with scenario optimization for risk management in restructuring sovereign debt. The scenario dynamics of debt-to-GDP ratio are used to define a tail risk measure, termed conditional Debt-at-Risk. A multi-period stochastic programming model minimizes the expected cost of debt financing subject to risk limits. It provides an operational model to handle significant aspects of debt restructuring: it collects all debt issues in a common framework, and can include contingent claims, m…
Role of glycine-82 as a pivot point during the transition from the inactive to the active form of the yeast Ras2 protein
1991
AbstractRas proteins bind either GDP or GTP with high affinity. However, only the GTP-bound form of the yeast Ras2 protein is able to stimulate adenylyl cyclase. To identify amino acid residues that play a role in the conversion from the GDP-bound to the GTP-bound state of Ras proteins, we have searched for single amino acid substitutions that selectively affected the binding of one of the two nucleotides. We have found that the replacement of glycine-82 of the Ras2 protein by serine resulted in an increased rate of dissociation of Gpp(NH)p, a nonhydrolysable analog of GTP, while the GDP dissociation rate was not significantly modified. Glycine-82 resides in a region that is highly conserve…
Energetic aspects of intramolecular coupling between the nucleotide binding site and the distal switch II region of the yeast RAS2 protein
1994
AbstractWe have studied the interaction of the yeast RAS2 protein with guanine nucleotides using energetic parameters for the dissociation of RAS·nucleotide complexes. The results indicated that a Gly → Ser substitution at position 82 led to an altered interaction with GppNHp and, to a lesser extent, also with GDP. It was also possible to conclude that structural perturbation of Gly82 can stimulate nucleotide release by decreasing the energetic barrier for nucleotide dissociation. This, together with the observation that residues 80 and 81 are involved in the response of RAS to nucleotide exchange factors without affecting GDP binding per se, suggests a potential mechanism for exchange fact…
Fiscal policy discretion, private spending and crises episodes
2011
In this paper, we assess the impact of fiscal policy discretion on economic activity in the short and medium-term. Using a panel of 132 countries from 1960 to 2008, we find that fiscal policy discretion provides a net stimulus to the economy in the short-run and crowding-in effects are amplified once crisis episodes are controlled for– in particular, banking crises - giving a great scope for fiscal policy stimulus packages. However, crowding-out effects take over in the long-run – especially, in the case of debt crises -, in line with the concerns about long-term debt sustainability.
Co-evolution of three mega-trends nurtures un-captured GDP – Uber's ride-sharing revolution
2016
Uber used a disruptive business model driven by digital technology to trigger a ride-sharing revolution. The institutional sources of the company’s platform ecosystem architecture were analyzed to explain this revolutionary change. Both an empirical analysis of a co-existing development trajectory with taxis and institutional enablers that helped to create Uber’s platform ecosystem were analyzed. The analysis identified a correspondence with the “two-faced” nature of ICT that nurtures un-captured GDP. This two-faced nature of ICT can be attributed to a virtuous cycle of decline in prices and an increase in the number of trips. We show that this cycle can be attributed to a self-propagating …
Sustainable development as a challenge for a society and an economy
2017
During the political process leading up to the Earth Summit in Rio de Janeiro in 1992 it was decided that the concept which will be used to coordinate spontaneous development processes will be the concept of sustainable development. Since that time, efforts are made to implement this concept through inclusion in the legal regulations and by modelling the development objectives of societies. This process should be accompanied by: 1) a reflection over a direction in which we should go and 2) a question whether actions, carried out in the spirit of sustainable development, really bring us closer to the realisation of this concept. The proposed paper will develop these last two questions focusi…
Azerbaidžānas un Latvijas tirdzniecības attiecības no 2004.-2020.gadam
2022
Bakalaura darba mērķis ir analizēt Azerbaidžānas un Latvijas ārējās tirdzniecības attiecības. Balstoties uz promocijas darba mērķi, tika izpildīti šādi mērķi: • Apzināt teorētiskos priekšnoteikumus Azerbaidžānas un Latvijas ekonomisko sakaru attīstībai • Apsveriet normatīvo regulējumu un ekonomiskās mijiedarbības posmus • Apgūt tautsaimniecības attīstības pamatus • Noteikt efektīvas ražošanas metodes • Analizēt pašreizējās tendences tirdzniecības attiecībās Azerbaidžānā • Apsveriet apjomu, dinamiku, tirdzniecības modeļus un jaunos procesus naftas un gāzes tirdzniecībā • Analizēt pašreizējās tendences tirdzniecības attiecībās Latvijā • Izpētīt Azerbaidžānas un Latvijas tirdzniecības attiecīb…