implications

Author(s):  
Robin Hanson

It tends to be easier to make social predictions about the middle of a distribution of characteristics, than about the tails of such a distribution. For example, it is easier to predict the typical time spent sleeping or eating, and the typical style of such activities, than the maximum or minimum time spent in such activities, or the styles of sleeping or eating done by those who spend an unusual amount of time in these functions. This is in part because when scenarios can differ according to a great many variables, this high-dimensionality creates a lot more detail to specify about the tails (i.e., extremes) compared with the middle of a distribution. This is also in part because hard-to-anticipate factors often have disproportionate effects on distribution tails. As ordinary humans are on the periphery of the em society, such issues make it harder to make predictions about humans in an em society. Even so, we should try. Ems are so fast that humans will only experience days in the time that a typical em experiences years. This suggests that during the entire em era humans will only achieve modest psychological and behavioral adaptations to the existence of ems. The human world will mostly look like it did before ems, except for a limited number of changes that can be made quickly. Ems being faster than humans also suggests that most substantial changes to human behaviors during the em era are driven by outside changes, rather than from within human society. Relevant outside changes include wars, changing prices such as wages, interest rates, and land rents, and an explosion of new products and services from the em economy. Because ordinary humans originally owned everything from which the em economy arose, as a group they could retain substantial wealth in the new era. Humans could own real estate, stocks, bonds, patents, etc. Thus a reasonable hope is that ordinary humans become the retirees of this new world. We don’t today kill all the retirees in our world, and then take all their stuff, in part because such actions would threaten the stability of the legal, financial, and political world on which we all rely, and in part because we have many direct social ties to retirees. Yes we humans all expect to retire today, while ems don’t expect to become human, but em retirees are vulnerable in similar ways to humans.

Mathematics ◽  
2021 ◽  
Vol 9 (15) ◽  
pp. 1820
Author(s):  
Ekaterina V. Orlova

This research deals with the challenge of reducing banks’ credit risks associated with the insolvency of borrowing individuals. To solve this challenge, we propose a new approach, methodology and models for assessing individual creditworthiness, with additional data about borrowers’ digital footprints to implement comprehensive analysis and prediction of a borrower’s credit profile. We suggest a model for borrowers’ clustering based on the method of hierarchical clustering and the k-means method, which groups actual borrowers having similar creditworthiness and similar credit risks into homogeneous clusters. We also design the model for borrowers’ classification based on the stochastic gradient boosting (SGB) method, which reliably determines the cluster number and therefore the risk level for a new borrower. The developed models are the basis for decision making regarding the decision about lending value, interest rates and lending terms for each risk-homogeneous borrower’s group. The modified version of the methodology for assessing individual creditworthiness is presented, which is to reduce the credit risks and to increase the stability and profitability of financial organizations.


2005 ◽  
Vol 12 (3) ◽  
pp. 533-547 ◽  
Author(s):  
Michel Lelart

The evolution of the international monetary System prompted the nine members of the E.E.C. to establish a European Monetary System. The new statutes of the I.M.F. have in fact legalized the practice of flexible exchange rates and sanctioned the dollar's inconvertibility while eliminating the role of gold. Further, the increasing importance of the international capital markets fosters the unlimited expansion of international liquidities. it is in response to this context then that Europe seeks to create a zone of stability and to manage its own international tender in accordance with rules that it has set for itself. The author draws a positive conclusion as the System has operated without major problems so far. Nevertheless, difficulties remain: the international environment has not improved given the abrupt strengthening of the dollar and the increase in American interest rates. In addition, progress with regard to cooperation among the Nine remains slow and political change in France makes any prognosis respecting the future of the European Monetary System difficult. It was anticipated that the System would be Consolidated rapidly. It would in that event contribute more effectively to the stability of the international monetary System. It could, on the other hand, sharpen competition between Europe and the United States, between the Ecu and S.D.Rs. and between the European Monetary Fund and the International Monetary Fund.


2014 ◽  
Vol 6 (2) ◽  
pp. 71-107 ◽  
Author(s):  
Fernando Alvarez ◽  
Francesco Lippi

We present a monetary model with segmented asset markets that implies a persistent fall in interest rates after a once-and-for-all increase in liquidity. The gradual propagation mechanism produced by our model is novel in the literature. We provide an analytical characterization of this mechanism, showing that the magnitude of the liquidity effect on impact, and its persistence, depend on the ratio of two parameters: the long-run interest rate elasticity of money demand and the intertemporal substitution elasticity. The model simultaneously explains the short-run “instability” of money demand estimates as well as the stability of long-run interest-elastic money demand. (JEL E13, E31, E41, E43, E52, E62)


2018 ◽  
Vol 5 (1) ◽  
pp. 65
Author(s):  
Ita Rakhmawati ◽  
Suhadi Suhadi

The crisis in 1997 is the image of the high rise in inflation in Indonesia. The phenomenon of inflation when it reached 82.40% (Anas, 2006). The early mid-1998 also experienced a weakening of the rupiah against the dollar. Condition stable economy is the desire of each country in comparison with the state of the economy has always fluctuated. Economic stability will create an atmosphere conducive economy. stable climatic conditions in the expected level of welfare is the purpose in each country. One of the efforts to maintain economic stability is through monetary policy. For example, with economic growth, maintain price stability (inflation), the achievement of the balance of payments and the reduction of unemployment (Natsir, 2008). The stability of the financial system of a country of which reflected their price stability, in the sense that there are a great price that can be harmful to society, both consumers and manufacturers that will damage the joints of the economy. However, the implementation of the policy, Bank Indonesia as the monetary authority uses monetary variables such as interest rates and the money supply to cope with economic shocks such as inflation. Besides the need for the government’s role in maintaining the rupiah to avoid turmoil in the economy. The importance of inflation control based on the consideration that the high inflation and unstable negative impact on socio-economic conditions of society. Among the high inflation will cause a decline in the real income of the community so that the standard of living of the people down and eventually make everyone, especially the poor get poorer. From one of the effects of inflation are so wide will impact people’s demands to meet the needs of more and more difficult. Their continuousprice increases being offset by rising income of the communities, it can make sure the Indonesian state would worsen. As a result many people’s needs can not be met, so many things that must be met by way of credit. The number of community needs that must be met will cause world of opportunities for banks to offer credit readily available to meet the needs. The third object of research above (inflation, poverty, and credit) does affect the stability of the financial system? In this study using secondary data from the Badan Pusat Statistik (BPS) and Bank Indonesia (BI) with time series data from the years 2007-2015. The process of data analysis was performed using OLS regression with Eviews 8.0. Based on research, if only partial test of the poverty variable significantly affect the stability of the financial system amounted to 2,023 with α = 10%. Meanwhile, two other variables (inflation and poverty) is not significant to the stability of the financial systemMeanwhile, two other variables (inflation and poverty) is not significant to the stability of the financial system. While the value of R-Square (0.629900), indicating that the three independent variables / free consisting of inflation, poverty and credit simultaneously have the effect that make the stabilization of the financial system increases or decreases. That is jointly independent variables (inflation, poverty and loans) contributed / effect of 62.9% against the stability of the financial system. The rest is the influence of other factors beyond the three independent variables studied.


2020 ◽  
Vol 9 (3) ◽  
pp. 69
Author(s):  
Chufang Hu

<p>The production of any kind of theory has its special and specific environment. Therefore, although truth can be universally applicable, it also needs to be associated with specific time, specific events, and specific environments in the process of combining it with practice, so that the truth can fully spread its wisdom, guide real life, and guide human society to develop scientifically and orderly. Based on the premise of fully understanding Marxism, this paper explores the localization of constructing Marxism in teaching based on the state of China. It proposes that it is necessary to fully integrate China's actual national conditions and realize the localization of Marxism in teaching from Chinese modernization, popularization, <em>etc.</em> in the new era, so as to fully integrate Marxism in China's new era of socialist construction, so that the Chinese people can get a sense of happiness in the localization of Marxism beliefs.</p>


2015 ◽  
Vol 4 (3) ◽  
pp. 28-35
Author(s):  
Stanciu Miltiade

Social life including economic life should evolve in harmony with live world ecology. The economy, as human society product should harmonize with the exigencies of “the health of whole living entity”. However, the realities of the present lived at local and global level reveal: inhuman social inequalities, frustrating consumerism, systemic pollution, poverty in the middle abundance, science without humanism, wealth without honest work etc. generated by negative human behaviors. The transition towards healthy development defined by the win-win principle, assumes that everything healthy for the natural environment is also healthy for man-created environment. This complex and long process is based on the re-spiritualization of the current educational model based on skills with the educational model in the cause of life.


This article constructs a 10-year realized term premium from the 10-year zero coupon Treasury yield in year 1 and the ex post three-month Treasury yields from years 1 to 10. The realized term premium swung wildly until the mid-1980s, and then fluctuated within a fairly stable range showing no trend. In comparison, the term premium derived from surveys of interest rate forecasts (survey-based term premium) was substantially lower than the realized term premium and trended downward since the early 1990s. The large and systematic forecast errors in combination with the stability of the realized term premium suggest possibilities that professional forecasters might have missed the term premium demanded by investors (ex ante term premium) by a wide margin and/or that investors forecast the future paths of interest rates more accurately than professional forecasters. It is also unclear that the survey-based term premium fairly represents the professional forecasters’ estimate of the ex ante term premium, not to mention the ex ante term premium itself. While it would be a daunting task to verify these possibilities, it is fairly clear that surveys of interest rate forecasts are of limited value as an investment guide.


2020 ◽  
pp. 095269512091153
Author(s):  
Jacob Collins

This article reframes our understanding of French structural anthropology by considering the work of André Leroi-Gourhan alongside that of Claude Lévi-Strauss. These two anthropologists worked at opposite poles of the discipline, Lévi-Strauss studying cultural objects, like myths and kinship relations; Leroi-Gourhan looking at material artifacts, such as stone tools, bones, arrowheads, and cave paintings. In spite of their difference in focus, these thinkers shared a similar approach to the interpretation of their sources: Each individual object was meaningful only as part of a larger whole. For Lévi-Strauss, structuralism was designed to unlock features of the human mind; for Leroi-Gourhan, to uncover the material processes that underlay human life. Again, in spite of their difference in orientation, both structuralisms produced similar theories of human society. Whether ‘primitive’ or ‘advanced’, all societies functioned the same way: Their institutions worked harmoniously, beyond the intentions of any individual actors, to preserve the stability of the group. This eliminated the basis for thinking one society was superior to another. Finally, the article argues that both Lévi-Strauss and Leroi-Gourhan believed that structural anthropology could found a ‘new humanism’, and thereby rescue modernity from moral degeneration. This ‘new humanism’ could not only produce a universal description of human nature, but also help rethink French colonialism, broker new geopolitical alliances, and prevent the erasure of world cultures. Structural anthropology thus imagined a tight relationship between its social-scientific work and its political-moral mission.


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