Search results for "MACRO"
showing 10 items of 3471 documents
Current account adjustment and retained earnings
2019
First published online: 04 March 2019 This paper develops a formal strategy to calculate current accounts with retained earnings ( RE) on equity investment and analyzes their adjustment during the global financial crisis. RE are the part of companies' profits which is reinvested and not distributed to shareholders as dividends. International statistical standards treat RE on foreign direct investment and RE on portfolio investment differently: while the former enter the current and financial account, the latter do not. We show that this differential treatment strongly affects current accounts of several advanced economies, frequently referred to as financial centers, with large positions in…
The role of passion in the quality-value-satisfaction-intentions chain: linear models and the QCA approach for athletes
2019
The aim of this research is to determine the role of passion on future intentions, perceived value, and athletes’ satisfaction in relation to participatory sport events by combining two methodological approaches: linear models and qualitative comparative analysis (QCA). A sample of participatory sporting event athletes (n = 302) was analysed. The results suggest that there is a direct effect of harmonic passion (HP) on future intentions (FI), value (PV) and satisfaction (AS) and a direct effect of obsessive passion (OP) on satisfaction. Considering the indirect effects, both interactions were significant for the effect of perceived quality (PQ) and perceived value on satisfaction. In additi…
‘Experimental Union’ and Baltic Sea cooperation: the case of the European Union’s Strategy for the Baltic Sea Region (EUSBSR)
2018
In the past, Baltic Sea cooperation has been characterized by a plethora of actors, embracing a wide range of policy objectives, such as the establishment of a good environmental status for the regional sea. In 2009, the European Council endorsed the European Union’s (EU) Strategy for the Baltic Sea Region (EUSBSR) as a new tool in the repertoire of Cohesion Policy and European Territorial Cooperation (ETC). The EUSBSR seeks to foster cross-sectoral coordination and functional cooperation in policy areas of ‘macro-region-level’ relevance, such as transport infrastructure, economic development and environmental protection – thus projecting a ‘soft space’ of transnational Baltic Sea cooperati…
Revisiting the Duration Dependence in the US Stock Market Cycles
2022
There is a big controversy among both investment professionals and academics regarding how the termination probability of a market state depends on its age. Using more than two centuries of data on the broad US stock market index, we revisit the duration dependence in bull and bear markets. Our results suggest that the duration dependence for both bull and bear markets is a nonlinear function of the state age. It appears that the duration dependence in bear markets is strictly positive. For 93% of the bull markets, the duration dependence is also positive. Only about 7% of the bull markets, those with the longest durations, do not exhibit positive duration dependence. We also compare a few …
The effects of fiscal policy shocks on the business environment
2021
Fiscal policy influences economic conditions through public spending and taxes, generating positive or negative impulses, both on short and long term. The present research focuses on analysing the effects of the discretionary changes in the fiscal policy in seven post-communist countries of the European Union during the period 2000–2018. The autoregressive distributed lag model (ARDL) has been applied in order to obtain the convergence rates to equilibrium with a clear analysis of the periods needed to achieve the long-run fiscal sustainability. Also, the error correction vector model (VECM), which is based on the autoregressive vector (VAR) model, has been used in the second part of the an…
Aggregate uncertainty and sectoral productivity growth: The role of credit constraints
2016
Abstract We show that an increase in aggregate uncertainty—measured by stock market volatility—reduces productivity growth more in industries that depend heavily on external finance. The mechanism at play is that during periods of high uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment—such as on ICT capital—which is more subject to liquidity risks (Aghion et al., 2010). The effect is larger during recessions, when financing constraints are more likely to be binding, than during expansions. Our statistical method—a difference-in-difference approach using productivity growth of 25 industries from 18 advanced econo…
Data for: Does social capital matter for European regional growth?
2016
Abstract of associated article: This paper analyzes the role of different elements of social capital in economic growth for a sample of 85 European regions during the period 1995–2008. Despite the remarkable progress that social capital and European regional economic growth literatures have experienced over the last two decades, initiatives combining the two are few, and entirely yet to come for the post-1990s period. Recent improvements in data availability allow this gap in the literature to be closed, since they enable the researcher to consider the traditionally disregarded Eastern and Central European (ECE) regions. This is particularly interesting, as they are all transition economies…
The modulation of immune complex aggregation by classical pathway-mediated reactions.
1985
Abstract Classical pathway (CP)-triggered reactions of complement-modulated immune complex(IC) aggregation (tetanus toxoid/human anti-tetanus toxoid-IgG; ICs of equivalence) were investigated turbidimetrically during the early stages of reaction. Monospecific Fab'- or Fab-fragments (rabbit) directed against certain complement components were used to block the complement function in normal human serum (NHS). Additionally, parts of the reactions were studied using purified complement components. C1q in serum generated by the addition of EDTA as well as purified C1q were found to increase the IC aggregation. In contrast to C1q, macromolecular C1 is able to inhibit IC aggregation, whereas addit…
Uptake prediction of nine heavy metals by Eichhornia crassipes grown in irrigation canals: A biomonitoring approach
2021
The principal objective of this study is to generate mathematical regression equations that facilitate the estimation of the extent to which Eichhornia crassipes (C. Mart.) Solms, water hyacinth, absorbs heavy metals (HMs) into four plant organs (laminae, petioles, roots, and stolons). This study considers the absorption of nine HMs (Cd, Co, Cr, Cu, Fe, Mn, Ni, Pb, and Zn), and the E. crassipes evaluated in this study were located in three irrigation canals in the North Nile Delta in Egypt, with sampling being conducted in both monospecific and homogenous E. crassipes. Samples of both E. crassipes and water were collected on a monthly basis during one growing season. Analysis of the water s…
Akciju tirgus ietekme uz ekonomiku. Specifika un attīstības tendencies.
2021
Promocijas darbā tiek pētīta akciju tirgus ietekme uz ekonomiku S & P 500 indeksa piemērā un makroekonomiskie rādītāji ar pētījumu jautājumu par to, vai akciju tirgu var uztvert kā vienu no vadošajiem ekonomikas barometriem. Teorija novēroja pieejamo literatūru par akciju tirgus darbību, tās līdzīgo attīstību un ekonomiskajiem cikliem, iepriekšējo pētījumu analīzi par akciju tirgus un makroekonomisko rādītāju attiecībām. Analītiskā daļa palīdzēja apkopot ceturkšņa datus starp 2014. -2019. Lai gan empīriskā daļa noslēdz pētījumu ar statistiskiem aprēķiniem. Tādējādi savukārt reālais iekšzemes kopprodukts (IKP) un patēriņa cenu indekss (PCI) ir spēcīgākie pozitīvi korelētie un statistiski noz…