Search results for "domes"
showing 10 items of 812 documents
Pig domestication and human-mediated dispersal in western Eurasia revealed through ancient DNA and geometric morphometrics.
2013
Zooarcheological evidence suggests that pigs were domesticated in Southwest Asia ∼8,500 BC. They then spread across the Middle and Near East and westward into Europe alongside early agriculturalists. European pigs were either domesticated independently or more likely appeared so as a result of admixture between introduced pigs and European wild boar. As a result, European wild boar mtDNA lineages replaced Near Eastern/Anatolian mtDNA signatures in Europe and subsequently replaced indigenous domestic pig lineages in Anatolia. The specific details of these processes, however, remain unknown. To address questions related to early pig domestication, dispersal, and turnover in the Near East, we …
Why banks are not too big to fail - evidence from the CDS market
2013
This paper argues that bank size is not a satisfactory measure of systemic risk because it neglects aspects such as interconnectedness, correlation, and the economic context. In order to differentiate the effect of bank size from that of systemic importance, we control for systemic risk using the CoVaR measure introduced by Adrian and Brunnermeier (2011). We show that a bank's contribution to systemic risk has a significant negative effect on banks’ credit default swap (CDS) spreads, supporting the too‐systemic‐to‐fail hypothesis. Once we control for systemic risk, bank size (relative to gross domestic product (GDP)) has either no or a positive effect on banks’ CDS spreads. The effect of ba…
The macroeconomic effects of public investment: Evidence from advanced economies
2015
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting ou…
The Effects of Social Spending on Economic Activity: Empirical Evidence from a Panel of OECD countries
2012
The aim of this paper is to assess the short term effects of social spending on economic activity. Using a panel of OECD countries from 1980 to 2005, the results show that social spending has expansionary effects on GDP. In particular, we find that an increase of 1% of social spending increases GDP by about 0.1 percentage point, which, given the share of social spending to GDP, corresponds to a multiplier of about 0.6. The effect is similar to the one of total government spending, and it is larger in periods of severe downturns. Among spending subcategories, social spending in Health and Unemployment benefits have the greatest effects. Social spending also positively affects private consump…
Business Cycle Affiliations in the Context of European Integration
2007
We study affiliations for the countries of the European Economic and Monetary Union (EMU) with Germany and the USA, using various business cycle measures derived from quarterly real GDP. These measures are Hodrick-Prescott and Baxter-King filtered series and annual growth rates. By using rolling contemporaneous and maximum (over a short lead/lag interval) correlations, we document increasing correlations of EMU countries with Germany, with these typically being largest during the 1990s. We also document a strong leading role for the USA in relation to these countries in the period since 1993, thereby correcting the fallacy that the European business cycle was disjointed from the USA for mos…
Forecasting US Growth During the Great Recession: Is the Financial Volatility the Missing Ingredient?
2012
The Great Recession endured by the main industrialized countries during the period 2008-2009, in the wake of the financial and banking crisis, has pointed out the major role of the financial sector on macroeconomic fluctuations. In this respect, many researchers have started to reconsider the linkages between financial and macroeconomic areas. In this paper, we evaluate the leading role of the daily volatility of two major financial variables, namely commodity and stock prices, in their ability to anticipate the output growth. For this purpose, we propose an extended MIDAS model that allows the forecasting of the quarterly output growth rate using exogenous variables sampled at various high…
Ethiopia's Growth Acceleration and How to Sustain It—insights from a Cross-Country Regression Model
2015
Ethiopia has experienced a growth acceleration over the past decade on the back of an economic strategy emphasizing public infrastructure investment and supported by heterodox macro-financial policies. To analyze the country’s growth performance during 2000–13, the paper employs a neoclassical cross-country System Generalized Method of Moments regression model. The analysis finds that accelerated growth was driven by public infrastructure investment and restrained government consumption, and supported by a conducive external environment. Macroeconomic challenges arising from declining private credit, real currency overvaluation, and relatively high inflation held back some growth. The model…
Is the Tax Burden a Generating Factor of Fiscal Evasion in South-East Europe?
2020
Tax evasion is a pernicious phenomenon, very widespread in the world, which is closely linked to the system of taxes and fees. This is considered to be a response to the excessive fiscal pressure exerted on taxpayers. Bypassing the law is also closely related to the phenomenon of corruption and its removal is a difficult target, under the existing conditions. The main purpose of this paper is to study the influence of corruption and fiscal pressure on the phenomenon of tax evasion, materialized by the shadow economy indicator. The analysis is carried out over a period of 18 years, namely 1999-2016, for six countries of South-Eastern Europe, member states of the European Union, divided into …
Transport in Spain: economic analysis of the sector
1982
Abstract This article analyses the evolution of the transport sector in Spain in recent years, the analysis being presented in three parts. The first part is an analysis of the sector from a macroeconomic point of view and its relation to the most relevant macromagnitudes of the Spanish Economy. The relative importance and relationship of transport is shown in relation to Gross Domestic Product, the evolution and the significance of the different modes of transportation, its significance in the Gross Formation of Fixed Capital and the relationship between transport and energy, balance of payments, employment and the public sector. The second part of the paper is a microeconomic analysis of …
Ecologie évolutive de la malaria aviaire : approches expérimentales des relations entre Plasmodium relictum et le canari domestique
2010
Host-parasite interaction became one of the main topics of evolutionary sciences researches. One of the major issues raised by these studies is to understand why some parasites cause fatal diseases while others remain relatively mild to their hosts. In this challenge attempting to take up the evolutionary biologist and the medical sciences, we focused on avian malaria, and more specifically on its most common parasite: Plasmodium relictum. In performing experimental infections in domestic canaries (Serinus canaria), we wanted to understand what factors related to parasite and birds characteristics, could influence Plasmodium relictum virulence. We highlighted that factors such as infectious…