2,206 research outputs found
The unholy trinity of financial contagion
Over the last 20 years, some financial events, such as devaluations or defaults, have triggered an immediate adverse chain reaction in other countries -- which we call fast and furious contagion. Yet, on other occasions, similar events have failed to trigger any immediate international reaction. We argue that fast and furious contagion episodes are characterized by "the unholy trinity": (i) they follow a large surge in capital flows; (ii) they come as a surprise; and (iii) they involve a leveraged common creditor. In contrast, when similar events have elicited little international reaction, they were widely anticipated and took place at a time when capital flows had already subsided.financial crises contagion capital flows credit ratings credit banks exchange rates
When it rains, it pours: Procyclical capital flows and macroeconomic policies
Based on a sample of 104 countries, we document four key stylized facts regarding the interaction between capital flows, fiscal policy, and monetary policy. First, net capital inflows are procyclical (i.e., external borrowing increases in good times and falls in bad times) in most OECD and developing countries. Second, fiscal policy is procyclical (i.e., government spending increases in good times and falls in bad times) for the majority of developing countries. Third, for emerging markets, monetary policy appears to be procyclical (i.e., policy rates are lowered in good times and raised in bad times). Fourth, in developing countries – and particularly for emerging markets – periods of capital inflows are associated with expansionary macroeconomic policies and periods of capital outflows with contractionary macroeconomic policies. In such countries, therefore, when it rains, it does indeed pour.fiscal policy capital flows interest rates cycles monetary policy government spending growth
The effect of a late decaying scalar on the neutralino relic density
If the energy density of the Universe before nucleosynthesis is dominated by
a scalar field phi that decays and reheats the plasma to a temperature T_{RH}
smaller than the standard neutralino freeze out temperature, the neutralino
relic density differs from its standard value. In this case, the relic density
depends on two additional parameters: T_{RH}, and the number of neutralinos
produced per phi decay per unit mass of the phi field. In this paper, we
numerically study the neutralino relic density as a function of these reheating
parameters within minimal supersymmetric standard models and show that the dark
matter constraint can almost always be satisfied.Comment: 16 pages, 14 figure
Semilattices global valuations in the topos approach to quantum mechanics
In the framework of the topos approach to quantum mechanics a kind of global valuation is introduced and studied. It allows us to represent certain features related to the logical consequences of properties about quantum systems when its phase space is endowed with an intuitionistic structureFil: Freytes Solari, Hector Carlos. UniversitĂ di Cagliari; Italia. Universidad Nacional de Rosario; Argentina. Consejo Nacional de Investigaciones CientĂficas y TĂ©cnicas; ArgentinaFil: de Ronde, Christian. Universidad de Buenos Aires. Facultad de FilosofĂa y Letras. Instituto de FilosofĂa "Dr. Alejandro Korn"; Argentina. Center Leo Apostel; BĂ©lgica. Consejo Nacional de Investigaciones CientĂficas y TĂ©cnicas; ArgentinaFil: Domenech, Graciela. Center Leo Apostel; BĂ©lgica. Consejo Nacional de Investigaciones CientĂficas y TĂ©cnicas; Argentin
The Unholy Trinity of Financial Contagion
Over the last 20 years, some financial events, such as devaluations or defaults, have triggered an immediate adverse chain reaction in other countries -- which we call fast and furious contagion. Yet, on other occasions, similar events have failed to trigger any immediate international reaction. We argue that fast and furious contagion episodes are characterized by "the unholy trinity": (i) they follow a large surge in capital flows; (ii) they come as a surprise; and (iii) they involve a leveraged common creditor. In contrast, when similar events have elicited little international reaction, they were widely anticipated and took place at a time when capital flows had already subsided.
GeografĂa del tiempo: análisis espacio-temporal de las actividades cotidianas de jĂłvenes en Mar del Plata
La ponencia presenta un mĂ©todo para el análisis espacio-temporal de la actividad cotidiana de jĂłvenes en Mar del Plata. Forma parte de un proyecto de investigaciĂłn en curso, que aspira analizar las actividades realizadas, su distribuciĂłn en el espacio y en el tiempo. Bajo el modelo espacio-temporal de la GeografĂa del Tiempo (Hagerstrand) se estudia la actividad cotidiana del individuo concreto: jĂłvenes que cursan el Ăşltimo año en instituciones educativas, considerando las caracterĂsticas personales y el contexto organizativo. Los resultados permitirán interpretar y valorar el uso del tiempo diario de los jĂłvenes en funciĂłn a las actividades cotidianas realizadas, duraciĂłn, espacios frecuentados, distancia recorrida y medio de transporte utilizado.Fil: Benseny, Graciela. Universidad Nacional de Mar del Plata. Facultad de Ciencias EconĂłmicas y Sociales; Argentina.Fil: Mantero, Juan Carlos. Universidad Nacional de Mar del Plata. Facultad de Ciencias EconĂłmicas y Sociales; Argentina
Análisis del tiempo diario, actividades, espacios y desplazamientos de jóvenes en Mar del Plata
El presente proyecto integra un programa de investigaciĂłn que se inscribe en el "Estudio de los Centros TurĂsticos del Litoral Atlántico Bonaerense", cuyo propĂłsito es analizar las actividades cotidianas realizadas por los jĂłvenes, su distribuciĂłn en el espacio y en el tiempo, en relaciĂłn con los horarios en que se desarrollan y los desplazamientos que se originan. El proyecto a desarrollar se centra en la presentaciĂłn de una metodologĂa para el análisis espacio-temporal de la actividad cotidiana, donde a travĂ©s del estudio del uso del tiempo se analiza la localizaciĂłn temporal, frecuencia y duraciĂłn de las actividades sociales y su distribuciĂłn espacial.Fil: Benseny, Graciela. Universidad Nacional de Mar del Plata. Facultad de Ciencias EconĂłmicas y Sociales; Argentina.Fil: Mantero, Juan Carlos. Universidad Nacional de Mar del Plata. Facultad de Ciencias EconĂłmicas y Sociales; Argentina
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