Interdependence and Contagion: an Analysis of Information Transmission in Latin America's Stock Markets

This paper brings evidences about the hypotheses of financial crisis contagion over Latin American stock markets in the 90's using a multivariate GARCH model. Beside the traditional volatility structure, we added a leverage term like GJR framework in order to avoid problems due to the use of conditional correlation as a measure of relationship between stock markets. The results show the existence of contagion only during the Asian (1997) and the Russian (1998) crises. The consequences of the Brazilian crisis (1999) can be identified as a result of interdependence among Latin American markets, while the crises of Mexico (1994) and Argentina (2001) show a specific mechanism of propagation. This result raises questions about the "contagion" and "interdependence" concepts' adequacy for the analysis of information transmission among stock markets.

IL COLLEGIO DEI GESUITI E LA CHIESA DI S. MARIA DELLA SCALA A MESSINA

A partire dai documenti conservati presso l'Archivio Antonio Zanca del Dipartimento di Architettura dell'Università di Palermo e con l'adozione di tecniche di rappresentazione innovative,il saggio documenta, attraverso la ricostruzione digitale, la complessa configurazione architettonica di un complesso monumentale non più esistente della città moderna

Imperfect Rationality and Inflationary Inertia: A New Estimation of the Phillips Curve for Brazil

This paper presents some new estimates for the relationship between inflation and unemployment in Brazil based on a new Keynesian hypothesis about the behavior of the economy. Four main hypotheses are tested and sustained throughout the study: i) agents do not have perfect rationality; ii) the imperfection in the agents expectations generating process may be an important factor in explaining the high persistence (inertia) of Brazilian inflation; iii) inflation does have an autonomous inertial component, without linkage to shocks in individual markets; iv) a non-linear relationship between inflation and unemployment is able to provide better explanations for the inflation-unemployment relationship in the Brazilian economy in the last 12 years. While the first two hypotheses are tested using a Markov Switching based model of regime changes, the remaining two are tested in a context of a convex Phillips Curve estimated using the Kalman filter. Despite the methodological and estimation improvements provided in the paper, the impulse-response functions for the monetary policy presented the same properties shown in the literature that uses Brazilian dataPhillips Curve; Expectations; Inflation; NAIRU-gap; Markov Switching Models; Kalman Filter; SUR

lA RICOSTRUZIONE DEL TEMPIO DELLA VITTORIA DI HIMERA

Il rilievo architettonico, attuato nella sua complessità disciplinare, si propone quale strumento per lo studio dell'architettura classica

ELEMENTI ERRATICI LIGNEI DI EPOCA MEDIEVALE IN SICILIA

Lo studio propone di indagare le tematiche decorative dell'arte islamica mediante l'uso, per il rilievo, di tecniche di scansione laser

“SERGIPANAMERICANOS”: A MÍDIA TELEVISIVA DE SERGIPE NO PANRIO 2007

Este estudo analisou a cobertura jornalística sobre os atletas sergipanos que participaram dos Jogos Pan-Americanos do Rio de Janeiro a partir da mídia televisiva. O material de análise desta pesquisa descritiva, com enfoque qualitativo, foi uma matéria veiculada em dezembro de 2007 em uma emissora local que apontou a retrospectiva deste grande evento esportivo para Sergipe. Há uma evidente tentativa de “sergipanizar” os atletas em função da naturalidade, ainda que estes residam e treinem fora do estado. A estratégia da mídia televisiva recorre à dialética local-global para criar entre os telespectadores um sentimento de identidade com os atletas.Rede cede

An examination of the relationship between perceived parenting styles, psychosocial development, and locus of control orientation in college students

This study examined the relationships between perceived parenting styles, psychosocial development, and locus of control orientation in 334 college students. Perceived parenting styles were assessed with Buri\u27s (1991) Parental Authority Questionnaire, based on Baumrind\u27s (1973) parenting typology. The parental dimensions of responsiveness and demandingness are categorized into three styles of parenting: authoritarian, authoritative, and permissive. Psychosocial development was assessed with the Measures of Psychosocial Development (Hawley, 1988), which is based on Erikson\u27s (1950) developmental theory of personality development. Locus of control, based on Rotter\u27s (1954) social learning theory, was measured by Rotter\u27s (1966) I-E scale. Results indicated that authoritative parenting is associated with successful task resolution in psychosocial development, while permissive and authoritarian parenting are associated with less successful task resolution. Maternal authoritative parenting was found to be associated with an internal locus of control, while maternal permissive and authoritarian parenting were associated with an external locus of control. Lastly, the study posited that locus of control would serve as a moderator between parenting styles and psychosocial development. The results indicated that locus of control can moderate the relationship between parenting styles and psychosocial development. Clinical and theoretical implications are discussed, as well as considerations for future research

Imperfect rationality and inflationary inertia: a new estimation of the Phillips Curve for Brazil

This paper presents some new estimates for the relationship between inflation and unemployment in Brazil based on a new Keynesian hypothesis about the behavior of the economy. Four main hypotheses are tested and sustained throughout the study: i) agents do not have perfect rationality; ii) the imperfection in the agents expectations generating process may be an important factor in explaining the high persistence (inertia) of Brazilian inflation; iii) inflation does have an autonomous inertial component, without linkage to shocks in individual markets; iv) a non-linear relationship between inflation and unemployment is able to provide better explanations for the inflation-unemployment relationship in the Brazilian economy in the last 12 years. While the first two hypotheses are tested using a Markov Switching based model of regime changes, the remaining two are tested in a context of a convex Phillips Curve estimated using the Kalman filter. Despite the methodological and estimation improvements provided in the paper, the impulse-response functions for the monetary policy presented the same properties shown in the literature that uses Brazilian data.O artigo estima uma nova relação entre emprego e inflação para o Brasil, tendo como pano de fundo hipóteses novo-keynesianas. Quatro hipóteses são testadas e sustentadas: i) os agentes não possuem racionalidade perfeita; ii) a imperfeição na formação das expectativas pode ser determinante no componente inercial da inflação brasileira; iii) a inflação possui componente inercial autônomo; e, iv) relações não-lineares entre inflação e desemprego fornecem melhores resultados para a economia nos últimos 12 anos. Enquanto as duas primeiras hipóteses são verificadas por meio de modelo com mudanças markovianas, as últimas são testadas por uma Curva de Phillips convexa, estimadas pelo Filtro de Kalman. O uso destas estimativas não prejudica as propriedades tradicionais estimadas de funções de resposta da política monetária para o Brasil