Search results for "Macroeconomic"
showing 10 items of 503 documents
Determining the indicators of social capital theory to social network sites
2014
The authors theoretical research provided a framework to define and measure social capital in social network sites. This paper determining with a qualitative method the theoretical dimensions of this framework. The result of this paper is the explanation of social capital theory in social network sites under the consideration of the identified indicators. The sample for this case is students, and the research needs further confirmation by other samples and methods. But this paper gives a first interesting insight in social network sites explained with the social capital theory and provides a first guidance for further research projects.
Mirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies
2021
We show that disclosing machine predictions to affected parties can trigger self-fulfilling prophecies. In an investment game, we experimentally vary investors’ and recipients’ access to a machine prediction about recipients’ likelihood to pay back an investment. Recipients who privately learn about an incorrect machine prediction alter their behavior in the direction of the prediction. Furthermore, when recipients learn that an investor has disregarded a machine prediction of no-repayment, this further lowers the repayment amount. We interpret these findings as evidence that transparency regarding machine predictions can alter recipients’ beliefs about what kind of person they are and what…
The Determinants of Migrants’ Remittance Inflows in the MENA Region: A Macroeconomic Approach
2014
Macroeconomic studies on the determinants of remittance flows have traditionally reviewed the role that economic conditions of host and home countries of migrants play in this process. New contributions have enlarged that setting by dealing with socio-political (demographics, institutions) and individual (education) dimensions influencing migrants’ behaviour when they remit money back home. In this investigation, we test for the role of all these variables in a general framework when analysing the case of the MENA (Middle East and North of Africa) region. Results indicate that the state of the business cycle, the characteristics of households (fertility, income per capita), and those of the…
Return Dispersion and Cross-Sectional Asset Pricing Anomalies
2015
Recent research finds that cross-sectional return dispersion provides a risk-based explanation for some investment anomalies, including accrual, investment, and momentum strategies. This study extends the analyses of return dispersion to a broad set of anomalies by testing whether the state of return dispersion is associated with anomalous returns. Empirical results for 12 well-known anomalies indicate a robust link between good and bad states of return dispersion and most anomalies. Also, return dispersion helps to explain a number anomalies regardless of their association with investor sentiment. We conclude that market risk related to return dispersion plays an important role in many inv…
The macroeconomic governance of the European Monetary Union: A Keynesian perspective
2005
Revised version - May 2006; Extending Asensio's closed-economy framework (2005a,b) to a monetary union, we show that theprinciples of governance which emanate from the so called "New Consensus in Macroeconomics"(NCM), and therefore have been designed for presumed stationary regimes, may cause severedysfunctions, such as depressive macroeconomic policies and unemployment traps, in non-ergodicregimes. The Keynesian approach, on the other hand, pleads in favour of important changes in thecurrent governance of the eurozone. First, since the European Central Bank can not repress distributiveinflationary pressures without having non-temporary depressive effects on aggregate demand andemployment, …
ECONOMIC EVALUATION OF AQUACULTURE INVESTMENTS UNDER CONDITIONS OF RISK AND UNCERTAINTY IN THE MEDITERRANEAN SEA
2014
This study aims to analyze, from a technical and ec onomic point of view, the choice between alternative investments in aquaculture under condit ions of risk and uncertainty. In particular, a comparative analysis has been conducted between an inshore and an offshore farm producing European sea bass in the Mediterranean Sea. The app lied model refers to the theory of subjective probability, assigning a different probability to e xpected incomes during the investment period. Resul ts show an economic convenience of inshore with respect to offshore farming.
La suspensión de la libre circulación de inversiones extranjeras en España por la crisis del COVID-19
2020
La libre circulación de inversiones es uno de los mantras que ha caracterizado la modernidad económica. El principio, sin embargo, se encuentra sometido a creciente prevención, en el marco de una visión crítica hacia la globalización en un mundo en pleno reajuste geoestratégico. Una de las manifestaciones de esta tendencia reciente de empoderamiento del Estado se refleja en la articulación de mecanismos de control de las inversiones foráneas que le permitan evitar que sectores claves de la economía nacional caigan en manos de inversores extranjeros, en muchas ocasiones, controlados por Estados competidores. A diferencia de lo que ocurre con los países de nuestro entorno, España había sido i…
Managing a boreal forest landscape for providing timber, storing and sequestering carbon
2015
Human well-being highly depends on ecosystem services and this dependence is expected to increase in the future with increasing population and economic growth. Studies that investigate trade-offs between ecosystem services are urgently needed for informing policy-makers. We examine the trade-offs between a provisioning (revenues from timber selling) and regulating (carbon storage and sequestration) ecosystem services among seven alternative forest management regimes in a large boreal forest production landscape. First, we estimate the potential of the landscape to produce harvest revenues and store/sequester carbon across a 50-year time period. Then, we identify conflicts between harvest re…
What determines the duration of a fiscal consolidation program?
2013
This paper assesses the determinants of the length of fiscal consolidation using annual data for 17 industrial countries over the period 1978-2009. Relying on a narrative approach to identify fiscal consolidation episodes, we show that fiscal variables (such as the budget deficit and the level of public debt) and economic factors (such as the degree of openness, the inflation rate, the interest rate and per capita GDP) are crucial for the fiscal consolidation process. Additionally, we employ duration analysis over a set of consolidation spells and find that, as time goes by, the likelihood of a fiscal consolidation ending is higher. However, the hazard function is not monotonic: indeed, it …
Asymmetric Demand Information and Foreign Direct Investment
2007
We examine the FDI versus exports decision of firms competing in an oligopolistic (quantitysetting) market under demand uncertainty and asymmetric information. Compared to a firm that chooses to export, a firm that chooses to set up a plant in the host market has superior information about local market demand. In addition to the well-known tension between the fixed set-up costs of investment, the additional variable costs of exports and oligopoly sizes, the incentive to invest abroad is explained by the strategic learning effect. FDI may be observed even if trade costs are zero. The analysis is robust to price competition and to the possibility that a foreign firm can engage in both FDI and…