A Historical Perspective of Inflation in Latin America. A New Approach Based on Fractional Integration with a Structural Break

2009 ◽  
Vol 23 (2) ◽  
pp. 259-279 ◽  
Author(s):  
Luis A. Gil-Alana ◽  
Carlos Pestana Barros
1978 ◽  
Vol 6 (3) ◽  
pp. 343-370
Author(s):  
Alan Neely

Liberation theology surfaced at Medellin in 1968. Professor Neely, whose eleven-year service in Colombia included that date, fully acknowledges the importance of the CELAM conference. However, he feels that the beginnings or antecedents of this movement can be traced to a number of sources both in Latin America and elsewhere. We're deeply indebted to the author for this careful, objective analysis which views the Latin American developments in terms of a broader historical perspective.


2021 ◽  
Vol 2021 (1) ◽  
pp. 19-25
Author(s):  
Vera K. Zubareva

This article provides a historical perspective on the famous Chekhovian story that has been previously viewed only as a story of love with the main focus on characters’ psychology. The new approach refers to a historical climate in Russian in the end of 19 century when religion lost its primary value. The conflict between the main characters is interpreted as a conflict between religious and secular mentality. Chekhov talks about a tendency of changing values in society, when the natural man’s mentality dominates the sacramental sphere, declares its morality false, ridiculous and even harmful. Gurov cannot understand Anna Sergeevna’s repentance, because he gravitates towards the progressive pole. The institution of marriage is not sacred for him, and, like for many of his contemporaries, a church wedding ceremony is no more than just a beautiful ritual. Just as another Chekhovian character, Voinitsky, Gurov doesn’t consider cheating on a spouse a great sin. He is a man of modern tendencies. For him, God is an abstract, mythical, speculative, philosophical concept not applicable to his own life that he lives in accordance with the tendencies of a secular society. Critics often associate the image of the dog with Anna Sergeevna, but in reality it is connected rather to Gurov. First of all, the sex of the dog is male, not female (Spitz is a male). Also, in the story, the dog loves his owner, Anna Sergeevna, but he could never understand the reason for her sadness. In the same way, Gurov, though being in love with Anna Sergeevna, would never understand fully what makes her so upset.


Author(s):  
Abir Khadhraoui ◽  
Khaled Jelassi ◽  
Jean-Claude Trigeassou ◽  
Pierre Melchior

A bad initialization of output-error (OE) technique can lead to an inappropriate identification results. In this paper, we introduce a solution to this problem; the basic idea is to estimate the parameters and the fractional order of the noninteger system by a new approach of least-squares (LS) method based on repeated fractional integration to initialize OE technique. It will be shown that LS method offers a good initialization to OE algorithm and leads to acceptable identification results. The performance of the proposed method is shown through numerical simulation examples.


2018 ◽  
Vol 24 ◽  
pp. 34-41 ◽  
Author(s):  
Guglielmo Maria Caporale ◽  
Hector Carcel ◽  
Luis Gil-Alana

2020 ◽  
Vol 29 (3) ◽  
pp. 723-736
Author(s):  
Juncal Cuñado ◽  
Luis Alberiko Gil-Alana ◽  
Fernando Perez De Gracia

This article investigates the degree of persistence in the international monthly tourist time series in Spain using long memory (fractional integration) techniques. Our findings can be summarized as follows. The two standard hypotheses of integer degrees of differentiation, i.e., the I(0) and the I(1) behaviour, are clearly rejected. The series is found to be I(d) with a value of d in the interval (0.421, 0.780) thus implying long memory behaviour and mean reverting behaviour. However, if a structural break is considered, it takes place at May 2007, and then, the two subsamples present orders of integration which are above 1 and thus rejecting the mean reverting hypothesis.


Author(s):  
Pedro Clavijo ◽  
Jimmy Melo

This document determines the severity of the specialization pattern constraint on economic growth in Latin America for the period 1950-2016. For this purpose, Thirlwall’s Law is estimated with the help of cointegration with structural break and time-varying parameter techniques. The results compel the conclusion that the specialization pattern has constrained economic growth in Latin America for the whole period, but the constraint has tightened severely during economic liberalization. Since results suggest that Latin America is stuck in a trap of falling-behind growth due to the specialization pattern, Thirlwall’s Paradox is explored in a model that incorporates changes in productivity and reallocation of labor to analyze the conditions that allow investment to increase growth


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