Asymétrie des cycles économiques et changement de régimes : cas de la Tunisie

Le papier s’intéresse à l’identification et à la datation des points de retournement de l’activité économique en Tunisie en utilisant l’approche changement de régimes, innovée par Hamilton (1989) pour l’analyse des cycles économiques. On identifie les changements de régimes dans le processus stochastique de la croissance économique, en utilisant des données mensuelles relatives à la croissance de la production industrielle couvrant la période 1994-2004. Notre recherche est basée sur les probabilités de lissage déterminées en estimant le modèle à changement de régimes à deux états. Les résultats obtenus nous permettent d’identifier sept points de retournement durant cette période tout en signalant la récession débutant en septembre 2001.In this paper we are interested in the identification and the dating of the turning points of the economic activity in Tunisia, by using the Markov switching approach innovated by Hamilton (1989) for the analysis of the business cycles. We identify the changes of regimes in the stochastic process of the economic growth, by using monthly data relating to the growth of the industrial production covering the period 1994-2004. We base our research on the smoothing probabilities determined by estimating the model of two states Markov switching regimes. The results obtained enable us to identify seven turning points during this period. And, using this approach of two states, we can detect the recession of september 2001

Asymétrie des cycles économiques et changement de régimes : cas de la Tunisie*

In this paper we are interested in the identification and the dating of the turning points of the economic activity in Tunisia, by using the Markov switching approach innovated by Hamilton (1989) for the analysis of the business cycles. We identify the changes of regimes in the stochastic process of the economic growth, by using monthly data relating to the growth of the industrial production covering the period 1994-2004. We base our research on the smoothing probabilities determined by estimating the model of two states Markov switching regimes. The results obtained enable us to identify seven turning points during this period. And, using this approach of two states, we can detect the recession of september 2001. Le papier s’intéresse à l’identification et à la datation des points de retournement de l’activité économique en Tunisie en utilisant l’approche changement de régimes, innovée par Hamilton (1989) pour l’analyse des cycles économiques. On identifie les changements de régimes dans le processus stochastique de la croissance économique, en utilisant des données mensuelles relatives à la croissance de la production industrielle couvrant la période 1994-2004. Notre recherche est basée sur les probabilités de lissage déterminées en estimant le modèle à changement de régimes à deux états. Les résultats obtenus nous permettent d’identifier sept points de retournement durant cette période tout en signalant la récession débutant en septembre 2001.

Perceptions of the appropriate response to norm violation in 57 societies

An Author Correction to this article: DOI: 10.1038/s41467-021-22955-x.Norm enforcement may be important for resolving conflicts and promoting cooperation. However, little is known about how preferred responses to norm violations vary across cultures and across domains. In a preregistered study of 57 countries (using convenience samples of 22,863 students and non-students), we measured perceptions of the appropriateness of various responses to a violation of a cooperative norm and to atypical social behaviors. Our findings highlight both cultural universals and cultural variation. We find a universal negative relation between appropriateness ratings of norm violations and appropriateness ratings of responses in the form of confrontation, social ostracism and gossip. Moreover, we find the country variation in the appropriateness of sanctions to be consistent across different norm violations but not across different sanctions. Specifically, in those countries where use of physical confrontation and social ostracism is rated as less appropriate, gossip is rated as more appropriate.Peer reviewe

Changes in social norms during the early stages of the COVID-19 pandemic across 43 countries

The emergence of COVID-19 dramatically changed social behavior across societies and contexts. Here we study whether social norms also changed. Specifically, we study this question for cultural tightness (the degree to which societies generally have strong norms), specific social norms (e.g. stealing, hand washing), and norms about enforcement, using survey data from 30,431 respondents in 43 countries recorded before and in the early stages following the emergence of COVID-19. Using variation in disease intensity, we shed light on the mechanisms predicting changes in social norm measures. We find evidence that, after the emergence of the COVID-19 pandemic, hand washing norms increased while tightness and punishing frequency slightly decreased but observe no evidence for a robust change in most other norms. Thus, at least in the short term, our findings suggest that cultures are largely stable to pandemic threats except in those norms, hand washing in this case, that are perceived to be directly relevant to dealing with the collective threat

Anger and disgust shape judgments of social sanctions across cultures, especially in high individual autonomy societies

When someone violates a social norm, others may think that some sanction would be appropriate. We examine how the experience of emotions like anger and disgust relate to the judged appropriateness of sanctions, in a pre-registered analysis of data from a large-scale study in 56 societies. Across the world, we find that individuals who experience anger and disgust over a norm violation are more likely to endorse confrontation, ostracism and, to a smaller extent, gossip. Moreover, we find that the experience of anger is consistently the strongest predictor of judgments of confrontation, compared to other emotions. Although the link between state-based emotions and judgments may seem universal, its strength varies across countries. Aligned with theoretical predictions, this link is stronger in societies, and among individuals, that place higher value on individual autonomy. Thus, autonomy values may increase the role that emotions play in guiding judgments of social sanctions

Islamic Finance and Herding Behavior Theory: A Sectoral Analysis for Gulf Islamic Stock Market

This study examines herding behavior in four sectors of the Gulf Islamic stock markets. Based on the methodology of Chiang and Zheng (2010), results showed evidence of herding among investors in major sectors for the Gulf Cooperation Council (hereinafter GCC) Islamic stock market during falling periods. In addition, we found that conventional return dispersions have a dominant influence during both falling and rising market periods. We also found evidence of herding around the conventional sectors during down market periods only in banking, hotel and restaurant sectors. There is evidence of herding around the conventional sectors during up market periods for insurance and industrial sectors

Islamic finance and herding behavior theory: A sectoral analysis for Gulf Islamic stock market

This study examines herding behavior in four sectors of the Gulf Islamic stock markets. Based on the methodology of Chiang and Zheng (2010), results showed evidence of herding among investors in major sectors for the Gulf Cooperation Council (hereinafter GCC) Islamic stock market during falling periods. In addition, we found that conventional return dispersions have a dominant influence during both falling and rising market periods. We also found evidence of herding around the conventional sectors during down market periods only in banking, hotel and restaurant sectors. There is evidence of herding around the conventional sectors during up market periods for insurance and industrial sectors