Search results for "Planetary Science"
showing 10 items of 4367 documents
Uncertainty and cross-border banking flows
2019
Abstract While global uncertainty—measured by the VIX—has proven to be a robust global “push” factor of international capital flows, there has been no systematic study assessing the role of uncertainty in driving bilateral capital flows. This paper examines the effects of higher country-specific uncertainty on cross-border banking flows using data from the Bank for International Settlements Locational Banking Statistics. The bilateral structure of this data allows disentangling supply factors from demand factors, thereby helping identify the effect of higher uncertainty on cross-border banking flows from other confounding factors. The results of this analysis suggest that: (i) uncertainty i…
The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data
2018
We take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flowsâfinancial globalization. Both country- and industry-level results suggest that such policies have led on average to limited output gains while contributing to significant increases in inequalityâthat is, they pose an equityâefficiency trade-off. Behind this average lies considerable heterogeneity in effects depending on country characteristics. Liberalization increases output in countries with high financial depth and those that avoid financial crises, while distributional effects are more pronounced in countries with low financial depth and inclusion and where libera…
The Rise in Inequality after Pandemics: Can Fiscal Support Play a Mitigating Role?
2021
Abstract Major epidemics of the last two decades (SARS, H1N1, MERS, Ebola, and Zika) have been followed by increases in inequality [Furceri et al. (2020), COVID Economics, 12, 138–157]. In this article, we show that the extent of fiscal consolidation in the years following the onset of these pandemics has played an important role in determining the extent of the increase in inequality. Episodes marked by extreme austerity—measured using either the government’s fiscal balance, health expenditures, or redistribution—have been associated with an increase in the Gini measure of inequality three times as large as in episodes where fiscal policy has been more supportive. We survey the evidence th…
Remote sensing:A case for moving space data towards the public good
2008
This paper discusses whether current international and national regulation of remote sensing activities achieves a true balance between proprietary interests of producers of remote sensing data and information and the needs of the community in accessing that data and information. By subjecting remote sensing data to general copyright restrictions that are often coupled with exclusive licences, irrespective of type or use of data and/or information, the development of important secondary information markets could be negatively hampered. In the long run, over-regulating access to space data may prove counter-productive in the information age. Using examples of different modes of information d…
Labor and product market reforms and external Imbalances: Evidence from advanced economies
2021
We explore the impact of major labor and product market reforms on current account dynamics using a new “narrative” database of major changes in employment protection for regular workers and product market regulation for non-manufacturing industries covering 26 advanced economies over the past four decades. Our main finding is that product market deregulation is associated with a weakening of the current account, while labor market deregulation is associated with an improvement. These effects are transitory and driven by both saving and investment responses. Labor and product market reforms both have a more positive impact on the current account balance when implemented under weak macroecon…
Determinants of COVID-19 Vaccine Rollouts and Their Effects on Health Outcomes
2022
Background Vaccination against the coronavirus disease (SARS-CoV-2) is understood to be the key way out of the COVID-19 pandemic. Limited evidence exists on the determinants of vaccine rollouts and their health effects at the country level. Objective Examine the determinants of COVID-19 vaccine rollouts and their effects on health outcomes. Methods Ordinary least squares regressions with standard errors clustered at the country level for Cross-section and Panel daily data of vaccinations and various health outcomes (new COVID-19 cases, fatalities, intensive care unit (ICU) admissions) for an unbalanced sample of about 200 countries during the period 16 December 2020 to 20 June 2021. Results…
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…
REACCIÓN DEL MERCADO DE VALORES MEXICANO ANTE LOS ESCÁNDALOS FINANCIEROS EVIDENCIA EMPÍRICA
2012
El presente trabajo tiene como objetivo conocer si las empresas mexicanas que cotizan en la Bolsa Mexicana de Valores, sufrieron reaccion negativa en el precio de sus acciones derivado del escandalo financiero Enron y el involucramiento de una de las Grandes Firmas Auditoras (GFA). Para lo anterior se utilizo la metodologia de estudio de eventos, mediante el modelo de mercado y el calculo de los retornos anormales a dos fechas evento. Los resultados revelan que las empresas mexicanas no sufren efectos economicos negativos en el precio de sus acciones dada la perdida de reputacion del auditor.
L’educació superior socialment responsable a l’Ecuador. Perspectives des de la psicologia
2018
espanolEl estudio aborda la responsabilidad social que la constitucion del Ecuador del 2008 otorga a las universidades, a partir de entender que el modelo productivo basado en la explotacion de recursos naturales vigente hasta el cambio legislativo, tiene que cambiar para tener presente la riqueza cultural y ambiental del pais en su desarrollo. Desde la Psicologia, mediante un enfoque centrado en la persona, el trabajo a partir de los discursos oficiales a nivel internacional y de Ecuador, se acerca a la comprension de las caracteristicas del alumnado socialmente responsable a fin de tener presente que para que cambie un sistema socioeconomico resulta necesario que se den cambios no tan sol…