The Other Side of Peirce's Phaneroscopy

Research on Peirce’s phaneroscopy has been done with and through the paradigm or the conceptual schema of “Being” — what has been critiqued by post-structuralist philosophers as the metaphysics of Being. Thus, such research is either limited to attempts to define “phaneron,” or to identify whether there is a particular and consistent meaning intention behind Peirce’s use of this term. Another problematic characteristic with such a way of engaging with phaneroscopy is the very anonymity of the schema of “Being.” While all scholars admit to the universality of “phaneron,” rarely, if ever, do we see an account of how such universality can be instantiated. In this paper, I attempt to engage with phaneroscopy differently. Instead of presenting a better version of what phaneroscopy is, or making arguments about what is the case with phaneroscopy, both of which are ways of philosophising with “being,” I attempt to enact phaneroscopy. This would mean to undertake to follow Peirce’s instructions for the phaneroscopist and report the findings. Based on the latter, I shall analogise phaneron with the possibility of understanding

UKIRT Widefield Infrared Survey for H2

We perform an unbiased search for outflows from YSOs along the Galactic Plane (GP). Our data has been taken as part of the UWISH2 survey (Froebrich et al. 2011). It uses as tracer the 1-0S(1) emission line of H2, and here we focus on a continuous 33 square degree sized region in Serpens and Aquila. We identify 130 outflows from which 94% are new discoveries. Thus, we increased the number of known MHOs by a factor of 15 in this area (Ioannidis & Froebrich 2012). The flux completeness limit for the flows is 3?10-18Wm-2. Typically, the known flows occupy the bright end of the flux distribution. Our survey thus increases the known integrated 1-0S(1) H2 flux from outflows only by a factor of two. We are able to assign possible driving sources to half of the outflows. Brighter MHOs are more likely to have a source candidate assigned to them

Criterion and incremental validity of the emotion regulation questionnaire.

Although research on emotion regulation (ER) is developing, little attention has been paid to the predictive power of ER strategies beyond established constructs. The present study examined the incremental validity of the Emotion Regulation Questionnaire (ERQ; Gross and John, 2003), which measures cognitive reappraisal and expressive suppression, over and above the Big Five personality factors. It also extended the evidence for the measure's criterion validity to yet unexamined criteria. A university student sample (N = 203) completed the ERQ, a measure of the Big Five, and relevant cognitive and emotion-laden criteria. Cognitive reappraisal predicted positive affect beyond personality, as well as experiential flexibility and constructive self-assertion beyond personality and affect. Expressive suppression explained incremental variance in negative affect beyond personality and in experiential flexibility beyond personality and general affect. No incremental effects were found for worry, social anxiety, rumination, reflection, and preventing negative emotions. Implications for the construct validity and utility of the ERQ are discussed

YSO jets in the Galactic Plane from UWISH2: I - MHO catalogue for Serpens and Aquila

Jets and outflows from Young Stellar Objects (YSOs) are important signposts of currently ongoing star formation. In order to study these objects we are conducting an unbiased survey along the Galactic Plane in the 1-0S(1) emission line of molecular hydrogen at 2.122mu using the UK Infrared Telescope. In this paper we are focusing on a 33 square degree sized region in Serpens and Aquila (18deg < l < 30deg; -1.5deg < b < +1.5deg). We trace 131 jets and outflows from YSOs, which results in a 15 fold increase in the total number of known Molecular Hydrogen Outflows. Compared to this, the total integrated 1-0S(1) flux of all objects just about doubles, since the known objects occupy the bright end of the flux distribution. Our completeness limit is 3*10^-18Wm^-2 with 70% of the objects having fluxes of less than 10^-17Wm^-2. Generally, the flows are associated with Giant Molecular Cloud complexes and have a scale height of 25-30pc with respect to the Galactic Plane. We are able to assign potential source candidates to about half the objects. Typically, the flows are clustered in groups of 3-5 objects, within a radius of 5pc. These groups are separated on average by about half a degree, and 2/3rd of the entire survey area is devoid of outflows. We find a large range of apparent outflow lengths from 4arcsec to 130arcsec. If we assume a distance of 3kpc, only 10% of all outflows are of parsec scale. There is a 2.6sigma over abundance of flow position angles roughly perpendicular to the Galactic Plane.Comment: 13pages, 1table (Appendix B not included), 6figures, accepted for publication by MNRAS, a version with higher resolution figures can be found at http://astro.kent.ac.uk/~df

External financing of US corporations: Are loans and securities complements or substitutes?

“Multiple avenues of intermediation” (Greenspan 2000) suggest substitutability of corporate loan and bond finance which smooths external financing flows. Holmstrom and Tirole (1997) stress complementarity; for most firms bank finance and consequent monitoring is essential for bond finance. Econometric work based on their model is consistent with complementarity both on average over time and during financial crises, and for levels and volatilities. It implies that “multiple avenues” may not be effective as a buffer in a bank credit crunch, and hence supply-side blockages of bank credit may impact on real activity. There are important implications for regulation, not least Basel II

Should Monetary Policy Respond to Asset Price Misalignments?

This paper analyses the relationship between monetary policy and asset prices using a structural rational expectations model that allows for the effect of asset prices on aggregate demand. We assume that asset prices follow a partial adjustment mechanism whereas they are positively affected by past changes, thus allowing for ‘momentum trading’, while at the same time we allow for reversion towards fundamentals. We then conduct stochastic simulations using two alternative monetary policy rules, inflation-forecast targeting and the standard Taylor rule. The results indicate that, under both rules, interest rate setting that takes into account asset price misalignments leads to lower overall macroeconomic volatility, as measured by the postulated loss function of the central bank

Liquidity effects due to information costs from changes

In this paper we examine effect on the returns of firms that have been included to and deleted from the FTSE 100 over the time period of 1984-2001. Like the S&P 500 listing studies, we find that the price and trading volume of newly listed (deleted) firms increases (decreases). The evidence is consistent with the information cost/liquidity explanation. This is because investors hold stocks with more (less) available information, consequently implying that they have lower (higher) trading costs. This explains the increase (decrease) in the stock price and trading volume of newly listed (deleted) stocks to (from) the FTSE 100 List

Identification and Identifiability of non-linear IV/GMM Estimators

In this article, the identi¯cation of instrumental variables and generalised method of moment (GMM) estimators is discussed. It is common that representations of such models are derived from the solution to linear quadratic optimisation problems. Here, it is shown that even though the rank condition on the Jacobian and the instrument set is valid, that the transversality condition may not be satis¯ed by the estimated model. Further, acceptance of the transversality condition does occur when identi ¯cation fails or the forward model vanishes. As a result the parameters of such models irrespective of any correction for serial correlation may not be identi¯ed in a fundamental sense. This suggests that either forward looking models should be estimated directly or more complex non-linear restrictions should be imposed

Identifying and Solving Multivariate Rational Expectations Models (Updated: 01/2005)

This article discuses the identification of Generalised Rational Expectations Models. It is shown that the necessary and sufficient conditions for local identification of the Quasi-Structural Form (Q-SF) derive from the first derivatives of the Non-Linear Instrumental Variables (NLIV) criterion. The necessary and sufficient conditions for local identification consist of an appropriately defined and informative instrument set and a Jacobian matrix with appropriate rank. However, these conditions do not identify the full structural form (SF) linked to either the true expectations or the full solution. For the identification of SF, the parameters need to be associated with a model that satisfies the transversality condition. It is shown that the testing of this condition is impossible when relying exclusively on the existing instruments

Long-Range Dependence in Daily Interest Rate

We employ a number of parametric and non-parametric techniques to establish the existence of long-range dependence in daily interbank o er rates for four countries. We test for long memory using classical R=S analysis, variance-time plots and Lo's (1991) modi ed R=S statistic. In addition we estimate the fractional di erencing parameter using Whittle's (1951) maximum likelihood estimator and we shu e the data to destroy long and short memory in turn, and we repeat our non-parametric tests. From our non-parametric tests we And strong evidence of the presence of long memory in all four series independently of the chosen statistic. We nd evidence that supports the assertion of Willinger et al (1999) that Lo's statistic is biased towards non-rejection of the null hypothesis of no long-range dependence. The parametric estimation concurs with these results. Our results suggest that conventional tests for capital market integration and other similar hypotheses involving nominal interest rates should be treated with cautio