Multinationals, Social Agency and Institutional Change; Variation by Sector

This is the accepted manuscript version of the following article: Mike Geppert and Graham Hollinshead, ‘Editorial: Multinationals, Social Agency and Institutional Change; Variation by Sector’, Competition and Change, Vol 18(3): 195-199, June 2014. The final, definitive version of this paper has been published is available online via doi: http://dx.doi.org/10.1179/1024529414Z.00000000056 Published by SAGE Publishing. All rights reserved. © W. S. Maney & Son Ltd 2014Multinational corporations (MNCs) operate at a crossroads of countervailing influences, While headquarters are typically embedded in the institutional settings of their home country, subsidiaries tend to internalize regulative and cognitive frames in their own national and regional contexts. MNCs now frequently assume highly diffuse global structures, operating across regionally dispersed horizontal and vertical networks, thereby exposing them to a global mosaic of societal, institutional and socio- economic influences. Moreover, MNCs are subjected to regulative effects emanating from transnational regulationPeer reviewe

Financial exchange rates and international currency exposures

Our goal in this project is to gain a better empirical understanding of the international financial implications of currency movements. To this end, we construct a database of international currency exposures for a large panel of countries over 1990-2004. We show that trade-weighted exchange rate indices are insufficient to understand the financial impact of currency movements. We show that our currency measure has high explanatory power for the valuation term in net foreign asset dynamics: exchange rate valuation shocks are sizable, not quickly reversed and may entail substantial wealth redistributions. Further, we demonstrate that many developing countries hold short foreign-currency positions, leaving them open to negative valuation effects when the domestic currency depreciates. However, we also show that many of these countries have substantially reduced their foreign currency exposure over the last decade. --Financial integration,capital flows,external assets and liabilities

Financial Exchange Rates and International Currency Exposures

Our goal in this project is to gain a better empirical understanding of the international financial implications of currency movements. To this end, we construct a database of international currency exposures for a large panel of countries over 1990-2004. We show that trade-weighted exchange rate indices are insufficient to understand the financial impact of currency movements. Further, we demonstrate that many developing countries hold short foreign-currency positions, leaving them open to negative valuation effects when the domestic currency depreciates. However, we also show that many of these countries have substantially reduced their foreign currency exposure over the last decade. Last, we show that our currency measure has high explanatory power for the valuation term in net foreign asset dynamics: exchange rate valuation shocks are sizable, not quickly reversed and may entail substantial wealth shocks.Financial integration, capital flows, external assets and liabilities

The Long or Short of it: Determinants of Foreign Currency Exposure in External Balance Sheets

Recently, there have been numerous advances in modelling optimal international portfolio allocations in macroeconomic models. A major focus of this literature has been on the role of currency movements in determining portfolio returns that may hedge various macroeconomic shocks. However, there is little empirical evidence on the foreign currency exposures that are embedded in international balance sheets. Using a new database, we provide stylized facts concerning the cross-country and time-series variation in aggregate foreign currency exposure and its various subcomponents. In panel estimation, we find that richer, more open economies take longer foreign-currency positions. In addition, we find that an increase in the propensity for a currency to depreciate during bad times is associated with a longer position in foreign currencies, providing a hedge against domestic output fluctuations. We view these new stylized facts as informative in their own right and also potentially useful to the burgeoning theoretical literature on the macroeconomics of international portfolios.

Evaluation of a planned program of word analysis in grade two

Thesis (Ed.M.)--Boston Universit

Vacuum Alignment in Technicolor Theories-I. The Technifermion Sector

We have carried out numerical studies of vacuum alignment in technicolor models of electroweak and flavor symmetry breaking. The goal is to understand alignment's implications for strong and weak CP nonconservation in quark interactions. In this first part, we restrict our attention to the technifermion sector of simple models. We find several interesting phenomena, including (1) the possibility that all observable phases in the technifermions' unitary vacuum-alignment matrix are integer multiples of \pi/N' where N' \le N, the number of technifermion doublets, and (2) the possibility of exceptionally light pseudoGoldstone technipions.Comment: 19 pages, Latex with one postscript figur

High-resolution observation of the Venus dayglow spectrum 1250-1430 angstroms

The spectrum of the dayglow of Venus between 1250 and 1430 A was measured in high resolution with the International Ultraviolet Explorer. Seven exposures which were made with the short wavelength camera in the high dispersion mode using the large aperture were combined to give a total exposure time of 309 min. The atomic oxygen lines at 1302.2, 1304.9, 1306.0, and 1355.6 A are present. In addition, the (14,3) and (14,4) bands of the carbon monoxide fourth positive system at 1317 and 1354 A respectively are identified. These bands are compared with synthetic spectra, showing the excitation mechanism to be fluorescent scattering of solar Lyman alpha radiation

Seasonal observation of Mars

The International Ultraviolet Explorer detected the Hartley bands of ozone in the spectrum of Mars. Seasonal observations show a variation in the north consistent with the measurement of Mariner 9. Observations during Martian late fall in the south were also made

Entropic Origin of Pseudogap Physics and a Mott-Slater Transition in Cuprates

We propose a new approach to understand the origin of the pseudogap in the cuprates, in terms of bosonic entropy. The near-simultaneous softening of a large number of different $q$-bosons yields an extended range of short-range order, wherein the growth of magnetic correlations with decreasing temperature $T$ is anomalously slow. These entropic effects cause the spectral weight associated with the Van Hove singularity (VHS) to shift rapidly and nearly linearly toward half filling at higher $T$, consistent with a picture of the VHS driving the pseudogap transition at a temperature $\sim T^*$. As a byproduct, we develop an order-parameter classification scheme that predicts supertransitions between families of order parameters. As one example, we find that by tuning the hopping parameters, it is possible to drive the cuprates across a {\it transition between Mott and Slater physics}, where a spin-frustrated state emerges at the crossover.Comment: 24 pgs, 15 figs + Supp. Material [6pgs, 3 figs]. Major revision of arXiv:1505.0477