Financial Intermediation, Variability and the Development Process

In this paper we have built a model of financial intermediation that explains the GDP variability pattern of an economy during the development process. In our model, per capita is more volatile in the middle-income economies than in both low and high-income economies. We show that, if the model economy is in the early or in the mature stages of development there is a unique equilibrium. However, in the middle stages of development multiple equilibria arise. Moreover, we find that in economies with imperfect credit markets, per capita output volatility tends to be higher than in economies with perfect or non-existent credit markets.Externalities, market imperfections, growth, multiple equilibria, sunspot equilibria

Financial Intermediation, Variability and the Development Process

In this paper we build a model of financial intermediation that explains the GDP variability pattern of an economy during the development process. We find evidence that per capita output is more volatile in middle-income economies than in both low and high-income economies. We show that, if the model economy is in the early or in the mature stages of development, there is a unique equilibrium. However, in the middle stages of development, multi-ple equilibria arise. Moreover, we find that in economies with imperfect credit markets, per capita output volatility tends to be higher than in economies with perfect or non-existent credit markets.

Strategic political communication : a leader's address to the nation

Este trabajo está destinado a divulgar en la población de las carreras de inglés como lengua extranjera un enfoque al estudio del discurso que reconoce su carácter situado tanto en sentido local como histórico. Su objetivo específico es revelar las características del género ‘alocución inaugural’ y la construcción discursiva de la nación estadounidense a través del análisis de un discurso público importante desde el punto de vista histórico pronunciado por el presidente de los EE.UU. George W. Bush. El examen de los datos muestra que la concurrencia de rasgos de actuación oral y eficaces recursos retóricos en un texto cuidadosamente elaborado que convoca ciertos aspectos de la identidad nacional se orienta a complejos fines políticos y se dirige a múltiples auditorios.Fil: Carranza, Isolda E.. Universidad Nacional de Córdob

Exchange Rate Volatility and Economic Performance in Peru: A Firm Level Analysis

This paper analyzes the impact of the exchange rate volatility on the performance of the Peruvian economy using financial information from 163 non-financial listed firms. We find evidence that, for firms holding dollar-denominated debt, investment decisions are negatively affected by real exchange rate depreciation. The reasons behind this result are: (i) the high degree of liability dollarization and currency mismatch that create the conditions for a balance sheet effect and a financial stress in the aftermath of a currency depreciation, (ii) the strong bank-lending channel that follows and reinforces the balance sheet effect, (iii) the domestic demand shrinkage that affects severely the firms sales, and (iv) the relatively small and poorly diversified export sector.

Exchange Rate and Inflation Dynamics in Dollarized Economies

In this paper we build a model of a dollarized economy with imperfect financial markets to analyze and qualify the common view that countries with higher dollarization exhibit higher pass-through. We show that the classic inflationary effects of a real depreciation -higher internal demand and imported inflation- can be offset or diminished in a dollarized economy by higher financial costs and a balance-sheet effect. Thus, pass-through coefficients could be smaller or even negative in economies with a high degree of dollarization. We test the implications of the model using a panel of a hundred-plus countries with differing degrees of dollarization. The results confirm that pass-through coefficients are higher in more dollarized economies, but they also show that large depreciations tend to generate a negative impact on the pass-through coefficient, this impact being higher the higher the level of dollarization of the economy. Additionally, the exchange rate regime is shown to matter, in that countries with fixed exchange rates suffer larger balance-sheet effects of depreciations.

Cryptocurrency Forecasting Models and DeFi

The nature of Cryptocurrency markets presents a challenge for Financial Time series forecasting, the regular use of time bars as a source of data to forecast can prove insufficient to predict the movements of the crypto token value. The use of additional data from DeFi sources can be used to create a more robust base in which to use different methods to perform better feature generation and feature selection to use for the prediction models. The use of the Three Barrier Method for labeling the movements of the data is suggested as a way to generate multiclass labeling in which both directions of the prices and magnitude are represented. The proposal of this work is that the use of DeFi data, the adapted use of the three-barrier method, and the use of Genetic Programming could create a dataset that has good predictor capabilities for the multiclass classification prediction of the movement and magnitude of the value of Bitcoin. In this work, a comparison between prediction models is performed using a combination of benchmark models, and the implementation of Random Forest and Multi-Layer Perceptron to construct a multiclass classifier for the price movement of the cross of Bitcoin and USDT from the Binance Exchange using historical data from Binance, Ethereum Blockchain, and symbolic data

Sketching maps Comparison between digital diagrammatic sketches of urban connectivity and actual maps of landscape fabric

Digital Participatory Platforms (DPPs) are tools allowing general members of the public to express themselves through design actions. This field is rapidly expanding and has the potential to democratize SS theory, making it visible and relevant to many. Tools that allow participants to develop simple diagrams of urban form can be of help since these types of drawings are easy to make and relate directly to some of the abstractions behind SS theory. However, even if we general members of the public can develop these drawings, the relation between these types of drawings and the reality they may intend to represent has not been mapped sp far. To address this issue we propose an experiment where we compare 200 drawings produced by professionals as part of a participatory process with real scale maps of London parks. We develop an analytic method for the lines of these two datasets using geometric feature extraction and dimensionality reduction representation in a t-SNE scatter graph. Results indicate that, for some types of landscapes, the algorithm effectively matches sketches and map morphologies. In other cases, the geometries of sketches and maps of some landscapes are inherently different since designers tend to develop “cartoons” of their designs, forcing curvature of items or forgetting small details which end up being added into the design in later stages. This would suggest the need to develop sophisticated layers of detail in addition to digital tools if they are to adequately translate between a syntactic approach to design and real-life map results

Autoconcepto académico y motivación académica en jóvenes talento de una universidad privada de Tarapoto

The objective of this study was to determine the relationship between academic self-concept and academic motivation in young talents (Scholarship 18) at a Private University in Tarapoto city, Peru. The sample was obtained through a probabislitic sampling and there were 92 young talents, being 47,8% male and 52,2% female between 17 and 22 years old. I used a descriptive, correlational and non-experimental design. The sample was evaluated using the AF5 Self-concept Scale (García and Musitu) academic section that consists of 6 items, and the Academic Motivation Scale that consists of 28 items. The psychometric properties of the instruments indicated that they are valid and reliable. Data were processed in SPSS (Statistical Package for the Social Sciences) version 20.0. The results show that there is a direct and highly significant relationship between academic self-concept and academic motivation in young talents (r = .301**, p<.004), which indicates the higher the academic self-concept, the greater the academic motivation.El objetivo del presente estudio fue determinar la relación entre el autoconcepto académico y la motivación académica en jóvenes talento (Beca 18) de una universidad privada de Tarapoto. La muestra se obtuvo por un muestreo probabilístico, y se tuvo como participantes a 92 jóvenes talento, siendo el 47,8% de sexo masculino y el 52,2% de sexo femenino entre 17 y 22 años. Se utilizó un diseño no experimental de tipo descriptivo correlacional. Se evaluó la muestra con la Escala de Autoconcepto AF5 de García y Musitu, sección académico y compuesta por 6 ítems, y la Escala de Motivación Académica, conformada por 28 ítems. Las propiedades psicométricas de los instrumentos indicaron que son válidos y confiables. Los datos fueron procesados en el paquete estadístico SPSS (Statistical Package for the Social Sciencies) versión 20.0. Los resultados evidencian que existe una relación directa y altamente significativa entre autoconcepto académico y motivación académica en los jóvenes talento (r = .301**, p<.004), lo que indica que, a mayor autoconcepto académico, mayor será la motivación académica.El objetivo del presente estudio fue determinar la relación entre el autoconcepto académico y la motivación académica en jóvenes talento (Beca 18) de una universidad privada de Tarapoto. La muestra se obtuvo por un muestreo probabilístico, y se tuvo como participantes a 92 jóvenes talento, siendo el 47,8% de sexo masculino y el 52,2% de sexo femenino entre 17 y 22 años. Se utilizó un diseño no experimental de tipo descriptivo correlacional. Se evaluó la muestra con la Escala de Autoconcepto AF5 de García y Musitu, sección académico y compuesta por 6 ítems, y la Escala de Motivación Académica, conformada por 28 ítems. Las propiedades psicométricas de los instrumentos indicaron que son válidos y confiables. Los datos fueron procesados en el paquete estadístico SPSS (Statistical Package for the Social Sciencies) versión 20.0. Los resultados evidencian que existe una relación directa y altamente significativa entre autoconcepto académico y motivación académica en los jóvenes talento (r = .301**, p<.004), lo que indica que, a mayor autoconcepto académico, mayor será la motivación académica

Autoconcepto académico y motivación académica en jóvenes talento de una universidad privada de Tarapoto

The objective of this study was to determine the relationship between academic self-concept and academic motivation in young talents (Scholarship 18) at a Private University in Tarapoto city, Peru. The sample was obtained through a probabislitic sampling and there were 92 young talents, being 47,8% male and 52,2% female between 17 and 22 years old. I used a descriptive, correlational and non-experimental design. The sample was evaluated using the AF5 Self-concept Scale (García and Musitu) academic section that consists of 6 items, and the Academic Motivation Scale that consists of 28 items. The psychometric properties of the instruments indicated that they are valid and reliable. Data were processed in SPSS (Statistical Package for the Social Sciences) version 20.0. The results show that there is a direct and highly significant relationship between academic self-concept and academic motivation in young talents (r = .301**, p<.004), which indicates the higher the academic self-concept, the greater the academic motivation.El objetivo del presente estudio fue determinar la relación entre el autoconcepto académico y la motivación académica en jóvenes talento (Beca 18) de una universidad privada de Tarapoto. La muestra se obtuvo por un muestreo probabilístico, y se tuvo como participantes a 92 jóvenes talento, siendo el 47,8% de sexo masculino y el 52,2% de sexo femenino entre 17 y 22 años. Se utilizó un diseño no experimental de tipo descriptivo correlacional. Se evaluó la muestra con la Escala de Autoconcepto AF5 de García y Musitu, sección académico y compuesta por 6 ítems, y la Escala de Motivación Académica, conformada por 28 ítems. Las propiedades psicométricas de los instrumentos indicaron que son válidos y confiables. Los datos fueron procesados en el paquete estadístico SPSS (Statistical Package for the Social Sciencies) versión 20.0. Los resultados evidencian que existe una relación directa y altamente significativa entre autoconcepto académico y motivación académica en los jóvenes talento (r = .301**, p<.004), lo que indica que, a mayor autoconcepto académico, mayor será la motivación académica.El objetivo del presente estudio fue determinar la relación entre el autoconcepto académico y la motivación académica en jóvenes talento (Beca 18) de una universidad privada de Tarapoto. La muestra se obtuvo por un muestreo probabilístico, y se tuvo como participantes a 92 jóvenes talento, siendo el 47,8% de sexo masculino y el 52,2% de sexo femenino entre 17 y 22 años. Se utilizó un diseño no experimental de tipo descriptivo correlacional. Se evaluó la muestra con la Escala de Autoconcepto AF5 de García y Musitu, sección académico y compuesta por 6 ítems, y la Escala de Motivación Académica, conformada por 28 ítems. Las propiedades psicométricas de los instrumentos indicaron que son válidos y confiables. Los datos fueron procesados en el paquete estadístico SPSS (Statistical Package for the Social Sciencies) versión 20.0. Los resultados evidencian que existe una relación directa y altamente significativa entre autoconcepto académico y motivación académica en los jóvenes talento (r = .301**, p<.004), lo que indica que, a mayor autoconcepto académico, mayor será la motivación académica