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Financial crises often transmit across geographical borders and different asset classes. Modeling these interactions is empirically challenging, and many of the proposed methods give different results when applied to the same data sets. In this book the authors set out their work on a general framework for modeling the transmission of financial crises using latent factor models. They show how their framework encompasses a number of other empirical contagion models and why the results between the models differ. The book builds a framework which begins from considering contagion in the bond mark
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Adsorption: Eine Einf Hrung in Die Probleme Der Adsorption.
541.183.2 --- Adsorption mechanism --- 541.183.2 Adsorption mechanism --- Absorption. --- Sorption --- Chemistry, Physical and theoretical --- Packed towers
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Offers a new interpretation of medieval Islamic philosophy, one informed by Platonic mysticism.
Tradition (Philosophy) --- Naturalism. --- Islamic philosophy --- Traditionalism (Philosophy) --- Philosophy --- Materialism --- Mechanism (Philosophy) --- Positivism --- Science --- History.
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Financial crises --- International finance --- Transmission mechanism (Monetary policy) --- Mathematical models --- Mathematical models
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The paper conducts a comparative study of the monetary policy transmission in two economies that run a well-established IT regime, Chile and New Zealand, vis-à-vis two economies operating under relatively newer IT regimes, and which are exposed to a significant degree of dollarization, Peru and Uruguay. It is shown that the traditional interest rate channel is effective in Chile and New Zealand. For Peru and Uruguay, the exchange rate channel is instead more relevant in the transmission of monetary policy. This latter result follows from the limited impact of the policy rate in curbing inflationary pressures in these two countries, in combination with the fact that they have a relatively large and persistent exchange rate pass through. Finally, it is shown that the on-going de-dollarization process of Peru and Uruguay has somewhat strengthened their monetary transmission through the interest rate channel.
Dollarization --- Transmission mechanism (Monetary policy) --- Monetary transmission mechanism --- Monetary policy --- Econometric models. --- Banks and Banking --- Finance: General --- Foreign Exchange --- Inflation --- Interest Rates: Determination, Term Structure, and Effects --- Price Level --- Deflation --- General Financial Markets: General (includes Measurement and Data) --- Banking --- Macroeconomics --- Finance --- Currency --- Foreign exchange --- Central bank policy rate --- Money markets --- Deposit rates --- Exchange rates --- Interest rates --- Prices --- Money market --- Uruguay
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Many experts believe that low-cost mitigation opportunities in agriculture are abundant and comparable in scale to those found in the energy sector. They are mostly located in developing countries and have to do with how land is used. By investing in projects under the Clean Development Mechanism (CDM), countries can tap these opportunities to meet their own Kyoto Protocol obligations. The CDM has been successful in financing some types of agricultural projects, including projects that capture methane or use agricultural by-products as an energy source. But agricultural land-use projects are scarce under the CDM. This represents a missed opportunity to promote sustainable rural development since land-use projects that sequester carbon in soils can help reverse declining soil fertility, a root cause of stagnant agricultural productivity. This paper reviews the process leading to current CDM implementation rules and describes how the rules, in combination with challenging features of land-use projects, raise transaction costs and lower demand for land-use credits. Procedures by which developed countries assess their own mitigation performance are discussed as a way of redressing current constraints on CDM investments. Nevertheless, even with improvements to the CDM, an under-investment in agricultural land-use projects is likely, since there are hurdles to capturing associated ancillary benefits privately. Alternative approaches outside the CDM are discussed, including those that build on recent decisions taken by governments in Copenhagen and Cancun.
Agriculture --- Banks & Banking Reform --- Clean Development Mechanism --- Climate Change --- Climate Change Mitigation and Green House Gases --- Energy and Environment --- Environment and Energy Efficiency --- Environmental Economics & Policies --- Land Use --- Mitigation --- Rural Development --- Sequestration --- Soil Carbon
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A growing body of literature examines the causal impact of financial literacy on individual, household, and firm level outcomes. This paper unpacks the mechanism of impact by focusing on the first link in the causal chain. Specifically, it studies the experimental impact of financial literacy on three distinct dimensions of financial knowledge. The analysis finds that financial literacy does not immediately enable individuals to discern costs and rewards that require high numeracy skills, but it does significantly improve basic awareness of financial choices and attitudes toward financial decisions. Monetary incentives do not induce better performance, suggesting cognitive constraints rather than lack of attention are a key barrier to improving financial knowledge. These results illuminate the strengths and limitations of financial literacy training, which can inform the design and anticipated effects of such programs.
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A growing body of literature examines the causal impact of financial literacy on individual, household, and firm level outcomes. This paper unpacks the mechanism of impact by focusing on the first link in the causal chain. Specifically, it studies the experimental impact of financial literacy on three distinct dimensions of financial knowledge. The analysis finds that financial literacy does not immediately enable individuals to discern costs and rewards that require high numeracy skills, but it does significantly improve basic awareness of financial choices and attitudes toward financial decisions. Monetary incentives do not induce better performance, suggesting cognitive constraints rather than lack of attention are a key barrier to improving financial knowledge. These results illuminate the strengths and limitations of financial literacy training, which can inform the design and anticipated effects of such programs.
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Many experts believe that low-cost mitigation opportunities in agriculture are abundant and comparable in scale to those found in the energy sector. They are mostly located in developing countries and have to do with how land is used. By investing in projects under the Clean Development Mechanism (CDM), countries can tap these opportunities to meet their own Kyoto Protocol obligations. The CDM has been successful in financing some types of agricultural projects, including projects that capture methane or use agricultural by-products as an energy source. But agricultural land-use projects are scarce under the CDM. This represents a missed opportunity to promote sustainable rural development since land-use projects that sequester carbon in soils can help reverse declining soil fertility, a root cause of stagnant agricultural productivity. This paper reviews the process leading to current CDM implementation rules and describes how the rules, in combination with challenging features of land-use projects, raise transaction costs and lower demand for land-use credits. Procedures by which developed countries assess their own mitigation performance are discussed as a way of redressing current constraints on CDM investments. Nevertheless, even with improvements to the CDM, an under-investment in agricultural land-use projects is likely, since there are hurdles to capturing associated ancillary benefits privately. Alternative approaches outside the CDM are discussed, including those that build on recent decisions taken by governments in Copenhagen and Cancun.
Agriculture --- Banks & Banking Reform --- Clean Development Mechanism --- Climate Change --- Climate Change Mitigation and Green House Gases --- Energy and Environment --- Environment and Energy Efficiency --- Environmental Economics & Policies --- Land Use --- Mitigation --- Rural Development --- Sequestration --- Soil Carbon
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Genetics --- 575 --- 577.21 --- General genetics. General cytogenetics. Immunogenetics. Evolution. Speciation. Phylogeny --- Molecular mechanism of coding, storage and realization of inheritance information. Molecular genetics. Molecular biology of the gene --- 577.21 Molecular mechanism of coding, storage and realization of inheritance information. Molecular genetics. Molecular biology of the gene --- 575 General genetics. General cytogenetics. Immunogenetics. Evolution. Speciation. Phylogeny --- Genetic techniques --- Genetic techniques. --- Genetics. --- Molecular genetics. --- Génétique --- Génétique moléculaire
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