The Trade and FDI Effects of EMU Enlargement

This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the ten countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a dataset of unbalanced panel data that combines bilateral trade flows among 29 countries and the distribution of outward FDI stocks among these countries. The results reveal a complementarity between trade and investment and a relationship between trade and exchange rate volatility that depends on the sign of bilateral trade balances. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5 percent for Poland and 30 percent for Hungary.EMU, exchange rate volatility, foreign investment, trade diversion, vertical integration

The trade and FDI effects of EMU enlargement

This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the ten countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a dataset of unbalanced panel data that combines bilateral trade flows among 29 countries and the distribution of outward FDI stocks among these countries. The results reveal a complementarity between trade and investment and a relationship between trade and exchange rate volatility that depends on the sign of bilateral trade balances. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5 percent for Poland and 30 percent for Hungary

The Trade and FDI Effects of EMU Enlargement

This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a data set of unbalanced panel data that combine bilateral trade flows among 29 countries and the distribution of outward FDI stocks among these countries. The results reveal a complementarity between trade and investment and a relationship between trade and exchange rate volatility that depend on the sign of bilateral trade balances. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5% for Poland and 30% for Hungary

The Trade and FDI Effects of EMU Enlargement

This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the ten countries that obtained EU membership in 2004. Intuitively, the implementation of a single currency for these countries means replacing several fluctuating currencies by a common currency. This gives rise to both “level” and “risk” effects of reduced currency movements on trade and investment. Another factor is the nature of the link between trade and FDI. This is also important not only because cross-border factor flows are becoming increasingly important, but also the international trade literature has long recognized that cross-border factor flows and trade in goods and services can be substitutes or complements. Given this background, one-way and two-way error component gravity models are estimated to examine for these theoretical expectations within a dataset of unbalanced panel data that combines bilateral trade flows among 29 countries and the distribution of outward FDI stocks among these countries (including the 10 new EU members). The data generally cover the period from 1990 to 2004. Our empirical results convincingly support: (i) a complementarity between trade and investment, (ii) a relationship between trade and exchange rate volatility that depends on the sign of bilateral trade balances, (iii) a positive effect of EU on trade and investment, and (iv) a positive effect of EMU on foreign investment. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5 percent for Poland and 30 percent for Hungary

Never too old to learn - Third age adults experience little (self-)ageism or barriers to learning

Currently, the proportion of older adults in the world population is increasing at a fast rate. An active lifestyle could contribute to healthy ageing. It is therefore urgent and important that ageing policies focus on active ageing, for example through third-age learning. This study explores the experiences of healthy older adults to find out to what extent they perceive (self-)ageism as a barrier to learning new skills. With this knowledge, a first step could be taken in clarifying whether more attention should be paid to a positive self-perception in older adults.To this end, semi-structured interviews were conducted with 10 third-age learners (aged 65–77, four females), who participated in several courses as part of an overarching study. The interviews were analysed using inductive thematic analysis. Thematic groups, themes, and related quotes were compared, leading to the identification of overarching themes that represented the experiences of older adults in their learning processes.The interview data suggest that the participants in our study believed they experienced little to no ageism and self-ageism, that they generally did not feel hindered in learning new skills due to societal or their own views on learning in the third age, and that they did not regard themselves as old. Moreover, no age limit existed for learning, according to the older participants. However, latent forms of (self-)ageism seemed to be present, implying that the older adults in our study were implicitly influenced by ageist stereotypes that exist in society. As positive self-esteem may help to avoid (self-)ageist experiences, ageing policies could focus on stimulating this positive self-image among older generations and encourage a positive view of older adults in younger generations to support healthy ageing

Exploring Language Learning as a Potential Tool against Cognitive Impairment in Late-Life Depression:Two Meta-Analyses and Suggestions for Future Research

Late-life depression (LLD) affects about an eighth of community-dwelling seniors. LLD impacts well-being, with loneliness and small social networks being typical. It has also been linked to cognitive dysfunction and an increased risk of developing dementia. Safety and efficacy of pharmacological treatments for LLD have been debated, and cognitive dysfunction often persists even after remission. Various cognitive interventions have been proposed for LLD. Among these, one has received special attention: foreign language learning could serve as a social intervention that simultaneously targets brain structures affected in LLD. Lifelong bilingualism may significantly delay the onset of cognitive impairment symptoms by boosting cognitive reserve. Even late-life foreign language learning without lifelong bilingualism can train cognitive flexibility. It is then counterintuitive that the effects of language learning on LLD have never been examined. In order to create a theoretical basis for further interdisciplinary research, this paper presents a status quo of current work through two meta-analyses investigating cognitive functioning in LLD on the one hand and in senior bilinguals or seniors following a language course on the other hand. While LLD was consistently associated with cognitive dysfunction, inconsistent results were found for bilingualism and language learners. Possible reasons for this and suggestions for future research are subsequently discussed

Language Entropy Relates to Behavioral and Pupil Indices of Executive Control in Young Adult Bilinguals

Introduction: It has been proposed that bilinguals’ language use patterns are differentially associated with executive control. To further examine this, the present study relates the social diversity of bilingual language use to performance on a color-shape switching task (CSST) in a group of bilingual university students with diverse linguistic backgrounds. Crucially, this study used language entropy as a measure of bilinguals’ language use patterns. This continuous measure reflects a spectrum of language use in a variety of social contexts, ranging from compartmentalized use to fully integrated use. Methods: Language entropy for university and non-university contexts was calculated from questionnaire data on language use. Reaction times (RTs) were measured to calculate global RT and switching and mixing costs on the CSST, representing conflict monitoring, mental set shifting, and goal maintenance, respectively. In addition, this study innovatively recorded a potentially more sensitive measure of set shifting abilities, namely, pupil size during task performance. Results: Higher university entropy was related to slower global RT. Neither university entropy nor non-university entropy were associated with switching costs as manifested in RTs. However, bilinguals with more compartmentalized language use in non-university contexts showed a larger difference in pupil dilation for switch trials in comparison with non-switch trials. Mixing costs in RTs were reduced for bilinguals with higher diversity of language use in non-university contexts. No such effects were found for university entropy. Discussion: These results point to the social diversity of bilinguals’ language use as being associated with executive control, but the direction of the effects may depend on social context (university vs. non-university). Importantly, the results also suggest that some of these effects may only be detected by using more sensitive measures, such as pupil dilation. The paper discusses theoretical and practical implications regarding the language entropy measure and the cognitive effects of bilingual experiences more generally, as well as how methodological choices can advance our understanding of these effects

PoS Tagging, Lemmatization and Dependency Parsing of West Frisian

We present a lemmatizer/PoS tagger/dependency parser for West Frisian using a corpus of 44,714 words in 3,126 sentences that were annotated according to the guidelines of Universal Dependencies version 2. PoS tags were assigned to words by using a Dutch PoS tagger that was applied to a Dutch word-by-word translation, or to sentences of a Dutch parallel text. Best results were obtained when using word-by-word translations that were created by using the previous version of the Frisian translation program Oersetter. Morphologic and syntactic annotations were generated on the basis of a Dutch word-by-word translation as well. The performance of the lemmatizer/tagger/annotator when it was trained using default parameters was compared to the performance that was obtained when using the parameter values that were used for training the LassySmall UD 2.5 corpus. We study the effects of different hyperparameter settings on the accuracy of the annotation pipeline. The Frisian lemmatizer/PoS tagger/dependency parser is released as a web app and as a web service