The FX Race to Zero

2018 ◽  
pp. 61-88
Author(s):  
Dan Marcus ◽  
Miles Kellerman
Keyword(s):  
Foreign Exchange ◽  
Future Research ◽  
Technological Changes ◽  
Currency Markets ◽  
The Us ◽  
Perverse Incentives ◽  
Exchange Markets ◽  
Arbitrage Opportunity ◽  
The Uk ◽  
Latency Arbitrage

This chapter traces how technological changes have affected the structure and operation of currency markets, and examines the issues associated with these developments. These changes have caused significant concern within the industry and raise complicated questions about whether additional regulation is necessary. Nevertheless, they have received relatively little theoretical or empirical attention in comparison to similar developments in equities markets. To address this gap, the chapter outlines the primary market structural issues in foreign exchange markets, including potentially abusive trading techniques, last look, and perverse incentives to monetize access to speed and information. Further, the chapter provides an example of a high frequency latency arbitrage opportunity and discusses the potential mitigating impact of a randomized delay mechanism. This is followed by an analysis of recent regulatory efforts to address these issues in the UK, the EU, and the US, in addition to a review of industry-led initiatives to establish best practices for algorithmic traders and venue operators. The chapter concludes by discussing key questions and constraints for future research.

The family welfare source and inequality in liberal welfare states: evidence from cohort studies

2020 ◽  
pp. 97-134
Author(s):  
Sarah Weakley
Keyword(s):  
Labour Market ◽  
Low Income ◽  
Structural Changes ◽  
Policy Formation ◽  
Welfare States ◽  
Future Research ◽  
Family Welfare ◽  
Youth Labour Market ◽  
The Us ◽  
The Uk

This chapter analyses the impact of implicit and explicit family welfare resources on young people's transition to economic independence, drawing on longitudinal data from the 1970 British Cohort Study and the 1997 US National Longitudinal Survey of Youth. In both the UK and the US, the commonly used measure of parental socioeconomic background was a factor that persisted and intensified as cohort members moved through a transition. Rather than inequalities reducing into adulthood, inequalities widened. Trends in co-residence and labour market insecurity in the UK mirror those of the US; therefore, the US evidence can inform both future research and policy formation in the UK. The empirical evidence suggests that if social policy in the UK is interested in supporting successful youth transitions across the income spectrum, the long-lasting imbalance created by unequal family resources will need to be addressed, beginning with a restructuring of the benefit system for low-income young people alongside structural changes to the youth labour market.

Hong Kong and Denmark will keep currency pegs

2015 ◽  
Keyword(s):  
Hong Kong ◽  
Exchange Rate ◽  
Foreign Exchange ◽  
Medium Term ◽  
Content Type ◽  
The Us ◽  
Exchange Rate Arrangements ◽  
Exchange Markets ◽  
Us Dollar ◽  
Currency Pegs

Subject The longevity and outlook for currency pegs. Significance The abandonment of the Swiss franc's three-year-old peg to the euro on January 15 put into question the longevity of pegged exchange rate arrangements. It also highlights how unusual such arrangements are today. Impacts The SNB will still have to continue to intervene in foreign-exchange markets to stabilise the Swiss franc. The SNB move will not cause Danish authorities to stop pegging the Danish krone to the euro. The near- and medium-term longevity of the Hong Kong dollar peg to the US dollar will not be questioned.

scholarly journals Culture and COVID-19: Don’t Throw Your Elderly Away!

2020 ◽  
Author(s):  
Robert Melton
Keyword(s):  
Nursing Homes ◽  
Cultural Difference ◽  
Alternative Explanation ◽  
Analysis Of Covariance ◽  
Future Research ◽  
Preventive Behaviors ◽  
Self Interest ◽  
The Us ◽  
The World ◽  
The Uk

Abstract Enormous differences exist in rates of death from COVID-19 in countries around the world. Collectivist cultures and countries are characterized by concern for culture and country to a greater extent than for self-interest, whereas the reverse is true for individualistic cultures and countries. In light of this cultural difference, and suggestive evidence that cultures known for their collectivist orientation are more likely to have near-universal compliance with infection-preventive behaviors such as public mask-wearing and less likely to place their elderly in nursing homes (which account for a high proportion of deaths in individualistic countries such as the US, Canada, and the UK), we hypothesized that death per million (DPM) rates would be significantly lower for collectivist countries than individualistic countries. We categorized every country for which there are collectivist-individualistic scores and split the countries into two groups as defined by Hofstede’s (1980) cut-offs. As predicted, the DPM rate for collectivist countries was significantly lower than for individualistic countries. Furthermore, an analysis of covariance controlling for median age showed that the alternative explanation that the observed difference could be accounted for in terms of the significantly lower average age of citizens of collectivist countries was implausible. Implications in areas related to reopening schools, etc., and directions for future research are discussed.

Disciplining the Hegemon

2021 ◽  
pp. 138-163
Author(s):  
Julian Germann
Keyword(s):  
Foreign Exchange ◽  
World Economy ◽  
Carter Administration ◽  
Organized Labor ◽  
Japanese Investment ◽  
External Pressures ◽  
The Us ◽  
The World ◽  
Anglo American ◽  
The Uk

This chapter argues that in order to protect its export model from the dangers of imported inflation, Germany strove to commit the US to monetary and fiscal rigor. To this end, German officials blocked the attempts of the Carter administration to organize a global Keynesian expansion, and scaled back their foreign exchange interventions in support of a weakening dollar. Both actions helped push the US into the Volcker Shock, which deflated the world economy and launched the attack on organized labor. The chapter concludes that the neoliberal experiment in the US, paralleled and reinforced by similar attempts in the UK, was late and lucky. Rather than the outcome of a decade-long domestic shift—seamless and sealed off from the world outside the Anglo-American heartland—the neoliberal counter-revolution was driven in part by the external pressures imposed by Germany, and subsequently sustained by a bout of Japanese investment.

scholarly journals Modern historiography of the Spanish civil war (1936–1939) and the prospects of ukrainian studies

2016 ◽  
pp. 261-278
Author(s):  
Bogdan Chuma
Keyword(s):  
Civil War ◽  
Spanish Civil War ◽  
Future Research ◽  
Important Research ◽  
New Methods ◽  
Research Areas ◽  
Current State ◽  
Main Emphasis ◽  
The Us ◽  
The Uk

The article analyzes the current state of the Spanish Civil War (1936-1939) historiography. The main emphasis is made on the achievements of Spanish historians and their colleagues from the UK and the US. The stages of important research areas and their weaknesses and prospects for future research are allocated and synthesized. Ukrainian part of the topic study and the possibilities for its improvement by involving a variety of sources, including archival and new methods of writing history are separately pointed out.

AI in Industry

2021 ◽  
pp. 112-139
Keyword(s):  
Data Science ◽  
Industrial Revolution ◽  
Social Progress ◽  
Future Research ◽  
The Past ◽  
The Us ◽  
Exhaustive Study ◽  
Global Economic Growth ◽  
The Uk ◽  
Near Future

The past two years have seen a tremendous number of changes in the global AI landscape. There has been a stable balance with the US as the unquestioned leader in the global IT market for nearly the past 20 years and by extension the international AI industry as well, which has evolved from the data science and big data analysis sector to become the engine of the 4th industrial revolution, global economic growth, and social progress that it is today. However, when it comes to AI spending, the US is outgunned by China whose government is investing $150 billion to support its goal to become the undisputed global leader in the AI race by 2030. This chapter will offer a broad overview of the UK AI industry and share insights on its present state, near-future, and what can be done in order to optimise the industry's trajectory over the course of the next several years and to maximise the UK's potential to become a global AI leader by 2020. It is not intended to be an exhaustive study and instead demonstrates the forces at work and possible areas for future research.

Corporate Governance and Firm Performance

2013 ◽  
pp. 490-510 ◽  
Author(s):  
Anup Agrawal ◽  
Charles R. Knoeber
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Family Firms ◽  
Corporate Control ◽  
Future Research ◽  
Inside Ownership ◽  
Market For Corporate Control ◽  
Corporate Governance Mechanisms ◽  
The Us ◽  
The Uk

This paper reviews the literature on corporate governance and firm performance in economies with relatively dispersed stock ownership and an active market for corporate control, such as the US and the UK. Section 1 outlines a framework of the basic agency problem between managers and shareholders and the corporate governance mechanisms that have evolved to address this problem. Section 2 deals with the relation between firm performance and inside ownership. Section 3 pertains to the relation between firm performance andmonitoring by large shareholders, monitoring by boards, and shareholder rights regarding takeover of the firm. Section 4 considers the relation between governance regulation and firm performance. Section 5 deals with the relation between governance and firm performance in family firms, and section 6 provides a summary and identifies some remaining puzzles and unresolved issues for future research.

scholarly journals Volatility Spillovers among Developed and Developing Countries: The Global Foreign Exchange Markets

2021 ◽  
Vol 14 (6) ◽  
pp. 270
Author(s):  
Walid Abass Mohammed
Keyword(s):  
Developing Countries ◽  
Foreign Exchange ◽  
Foreign Exchange Markets ◽  
European Region ◽  
Volatility Spillovers ◽  
Time Period ◽  
The Us ◽  
Exchange Markets ◽  
Us Dollar

In this paper, we investigate the “static and dynamic” return and volatility spillovers’ transmission across developed and developing countries. Quoted against the US dollar, we study twenty-three global currencies over the time period 2005–2016. Focusing on the spillover index methodology, the generalised VAR framework is employed. Our findings indicate no evidence of bi-directional return and volatility spillovers between developed and developing countries. However, unidirectional volatility spillovers from developed to developing countries are highlighted. Furthermore, our findings document significant bi-directional volatility spillovers within the European region (Eurozone and non-Eurozone currencies) with the British pound sterling (GBP) and the Euro (EUR) as the most significant transmitters of volatility. The findings reiterate the prominence of volatility spillovers to financial regulators.

scholarly journals The Complexity of Public Relations Work

2015 ◽  
Vol 36 (1) ◽  
pp. 125-139 ◽  
Author(s):  
Bengt Johansson ◽  
Larsåke Larsson
Keyword(s):  
Public Relations ◽  
Future Research ◽  
Public Authorities ◽  
Important Conclusion ◽  
The Public ◽  
Managerial Roles ◽  
The Us ◽  
Complex Picture ◽  
The Uk ◽  
Managerial Level

Abstract Research on the PR-function is extensive, especially in the US and the UK. The managertechnician dichotomy is well known, but has been challenged by recent research where more nuanced perspectives on PR-managerial roles are displayed. In relation to this complexity of PR-managerial roles the article investigates the function and role Swedish public relations managers perform and play in their organizations. The Swedish case, with its high proportion of PR practitioners employed by public authorities, was used to further explore the complexity of PR work. The empirical data was a survey distributed to a random sample of members of the Swedish Public Relations Association, with a managerial or head/ director position, representing all industry/societal sectors. 261 persons completed the survey, giving a response rate of 30 percent. The study confirmed previous research of a more complex picture of the PR-managerial level. One important conclusion was therefore that the simple dichotomy between managers and technicians cannot be used to understand managerial level positions in the public relations context. This complexity was even further emphasized when comparing PR-mangers in the private and the public sector. One challenge pointed out for future research was to develop analyses of PR managerial roles in different types of organizations.

scholarly journals Medical Education Research Trends, 1989–2018: A Bibliometric and Social Network Analysis

2021 ◽  
Author(s):  
Yanjun Li ◽  
Desheng Huang ◽  
Peng Guan ◽  
Chunhe Liu ◽  
Jin zhang ◽  
...  
Keyword(s):  
Medical Education ◽  
Education Research ◽  
Education Reform ◽  
International Collaboration ◽  
Medical Education Research ◽  
Future Research ◽  
Teaching Innovation ◽  
Medical Education Reform ◽  
The Us ◽  
The Uk

Abstract Background We are now in the third generation of medical education reform. To fully grasp this transformation, we need to identify the field’s knowledge structure. This study conducted a bibliometric analysis to discover the general publication statue during the last three decades (1989–2018) with an eye for identifying prolific institutions, core journals, international collaboration, and the evolution of key themes.Methods We retrieved 15,329 papers from the Web of Science Core Collection database that were published between 1989 and 2018 , and we analysed them to determine prolific institutions, core journals, institutional collaboration statue, and hot spots of research. R studio, SciMAT, and VOSviewer were jointly applied. For a better understanding of thematic evolution in the field, we split the study period into three sub-periods with equal time spans.Results We discovered that, worldwide, scholars are increasingly attracted to research on medical education. Medical Education is the most prolific journal in the field. While the US publishes an overwhelming proportion of the most relevant papers, articles published by the UK are, on average, most frequently cited. We identify five key research centres based on the most prolific academic institutions, and our analysis of relevant collaborations reveals that international collaboration is common. The hottest themes during each sub-period are revealed and how they evolve across different time spans are also detected.Conclusions This bibliometric study identifies the scientific structure of medical education research over the past three decades. Ultimately, it may help scholars identify new topics and future research challenges in this field and, moreover, highlight meaningful evidence for policymakers in the field of medical teaching innovation.

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