7,225 research outputs found

    Systemic risk in a mean-field model of interbank lending with self-exciting shocks

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    In this paper we consider a mean-field model of interacting diffusions for the monetary reserves in which the reserves are subjected to a self- and cross-exciting shock. This is motivated by the financial acceleration and fire sales observed in the market. We derive a mean-field limit using a weak convergence analysis and find an explicit measure-valued process associated with a large interbanking system. We define systemic risk indicators and derive, using the limiting process, several law of large numbers results and verify these numerically. We conclude that self-exciting shocks increase the systemic risk in the network and their presence in interbank networks should not be ignored

    Systemic risk in a mean-field model of interbank lending with self-exciting shocks

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    In this paper we consider a mean-field model of interacting diffusions for the monetary reserves in which the reserves are subjected to a self- and cross-exciting shock. This is motivated by the financial acceleration and fire sales observed in the market. We derive a mean-field limit using a weak convergence analysis and find an explicit measure-valued process associated with a large interbanking system. We define systemic risk indicators and derive, using the limiting process, several law of large numbers results and verify these numerically. We conclude that self-exciting shocks increase the systemic risk in the network and their presence in interbank networks should not be ignored

    Targeting Research for Enhanced Impact on Poverty in Marginal Areas: The Representative Case of the Dry Areas of Syria

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    Agricultural research in marginal dry areas can contribute to reducing poverty through the development of technological, institutional and policy options for poor farmers by addressing diversified opportunities and development pathways. This paper analyzes the diversity of rural livelihood strategies in the Khanasser Valley in northwest Syria, an area representative of marginal drylands. We experimentally define an operational classification of household typologies based on their different livelihood strategies, capabilities, and opportunities by applying a Sustainable Livelihoods framework. Livelihoods diversity has implications on where and how research must be targeted to have impact on poverty. Households less endowed in land and natural resources and with livelihoods only marginally based on farming have to rely on off-farm income or exit agriculture. Poorest households with livelihoods based on migration and scarce land assets can benefit little or only indirectly from agricultural research. Yet the poor laborers with enough assets can benefit more and directly from pro-poor agricultural research. We discuss the pathways that these different groups can undertake to escape poverty, with emphasis on those that use agricultural technologies developed within an Integrated Natural Resources Management approach by a benchmark project of ICARDA in the Khanasser area. Some of the technologies, assessed ex-ante based on extensive experimental data, can contribute to improving livelihoods and preserving the natural resource base. If, however, these are to become part of effective development pathways and impact on poverty, they must meet various policy and institutional conditions, that we discuss vis-a-vis the different typologies of users.Impact, Livelihoods, Marginal Areas, Poverty, Syria, D1, I3, O3, Q12, Q16, Food Security and Poverty,

    Manual for conducting socioeconomic surveys through Pocket Portable Device Assistants (PDAs) and personal computers

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    Socioeconomic environment, Surveys, Computers, Computer software, Data collection, PDAs, Personal computers, Research Methods/ Statistical Methods, U40, E10,

    Impacts of CIMMYT's International Training Linked to Long-Term Trials in Conservation Agriculture: 1996-2006

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    Education, Training courses, International cooperation, Research institutions, Natural resources, Resource conservation, Environmental Economics and Policy,

    Heart rate and arrhythmic risk: old markers never die

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    IT diffusion in the Brazilian public sector: organizational culture versus efficiency

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    How to measure baroreflex sensitivity

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