Global Banking: Toward an Assessment of Benefits and Costs

2020 ◽  
Vol 12 (1) ◽  
pp. 141-175
Author(s):  
Claudia M. Buch ◽  
Linda S. Goldberg
Keyword(s):  
Evaluation Studies ◽  
Cost And Benefit ◽  
Theoretical Literature ◽  
Trade Offs ◽  
Global Banking ◽  
Policy Frameworks ◽  
Key Dimensions ◽  
Benefits And Costs ◽  
Global Banks ◽  
Empirical Analyses

Global activities of banks are a core manifestation of broader patterns of globalization of production, trade, and finance. This article reviews the extensive recent empirical and theoretical literature on global banking, emphasizing the careful empirical analyses that incorporate key dimensions of heterogeneity among borrowers and lenders, and across activities. The actions of globally active banks are consequential, with cost and benefit trade-offs that differ during their lifetimes and at times of stress. Both research and policymaking around global banking benefit from improved infrastructures around collection of and access to granular data and repositories of evaluation studies. Although overall positive contributions from welfare perspectives arise from the activities of global banks, these organizations require appropriately targeted policy frameworks and oversight.

GLOBAL BANK RISK AND MONETARY POLICY IN AN EMERGING ECONOMY

2021 ◽  
pp. 1-32
Author(s):  
Paul Luk
Keyword(s):  
Monetary Policy ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Emerging Economy ◽  
Exchange Rate Flexibility ◽  
Trade Offs ◽  
Global Banking ◽  
The Usa ◽  
The Global Financial Crisis ◽  
Global Banks

The global financial crisis was characterized by heightened financial risk in the USA, which spread to the rest of the world, including emerging economies. This paper constructs a core–periphery model with a global banking network and financial frictions. Due to a common-lender effect, when global banks lend to an emerging economy, heightened financial risk in the center depresses cross-border lending to the emerging economy, reducing real activities and exacerbating monetary policy trade-offs. As financial markets become more integrated, exchange rate flexibility becomes less welfare enhancing and active capital account policy becomes more welfare enhancing.

GLOBAL BANK RISK AND MONETARY POLICY IN AN EMERGING ECONOMY

2021 ◽  
pp. 1-32
Author(s):  
Paul Luk
Keyword(s):  
Monetary Policy ◽  
Financial Risk ◽  
Global Financial Crisis ◽  
Emerging Economy ◽  
Exchange Rate Flexibility ◽  
Trade Offs ◽  
Global Banking ◽  
The Usa ◽  
The Global Financial Crisis ◽  
Global Banks

The global financial crisis was characterized by heightened financial risk in the USA, which spread to the rest of the world, including emerging economies. This paper constructs a core–periphery model with a global banking network and financial frictions. Due to a common-lender effect, when global banks lend to an emerging economy, heightened financial risk in the center depresses cross-border lending to the emerging economy, reducing real activities, and exacerbating monetary policy trade-offs. As financial markets become more integrated, exchange rate flexibility becomes less welfare enhancing and active capital account policy becomes more welfare enhancing.

scholarly journals Evolutionary trade-offs between unicellularity and multicellularity in budding yeast

2018 ◽  
Author(s):  
Jennie J. Kuzdzal-Fick ◽  
Lin Chen ◽  
Gábor Balázsi
Keyword(s):  
Mitotic Exit ◽  
Fundamental Question ◽  
Bet Hedging ◽  
Evolutionary Transitions ◽  
Wild Yeast ◽  
Yeast Strains ◽  
Trade Offs ◽  
Mitotic Exit Network ◽  
Multicellular Organisms ◽  
Benefits And Costs

ABSTRACTMulticellular organisms appeared on Earth through several independent major evolutionary transitions. Are such transitions reversible? Addressing this fundamental question entails understanding the benefits and costs of multicellularity versus unicellularity. For example, some wild yeast strains form multicellular clumps, which might be beneficial in stressful conditions, but this has been untested. Here we show that unicellular yeast evolves from clump-forming ancestors by propagating samples from suspension after larger clumps have settled. Unicellular yeast strains differed from their clumping ancestors mainly by mutations in the AMN1 (Antagonist of Mitotic exit Network) gene. Ancestral yeast clumps were more resistant to freeze/thaw, hydrogen peroxide, and ethanol stressors than their unicellular counterparts, while unicellularity was advantageous without stress. These findings inform mathematical models, jointly suggesting a trade-off between the benefits and downsides of multicellularity, causing bet-hedging by regulated phenotype switching as a survival strategy in unexpected stress.

scholarly journals Deep-diving beaked whales dive together but forage apart

2021 ◽  
Vol 288 (1942) ◽  
pp. 20201905
Author(s):  
Jesús Alcázar-Treviño ◽  
Mark Johnson ◽  
Patricia Arranz ◽  
Victoria E. Warren ◽  
Carlos J. Pérez-González ◽  
...  
Keyword(s):  
Beaked Whale ◽  
Acoustic Interference ◽  
Deep Diving ◽  
Trade Offs ◽  
Group Competition ◽  
Foraging Performance ◽  
Cooperative Foraging ◽  
Beaked Whales ◽  
Group Members ◽  
Benefits And Costs

Echolocating animals that forage in social groups can potentially benefit from eavesdropping on other group members, cooperative foraging or social defence, but may also face problems of acoustic interference and intra-group competition for prey. Here, we investigate these potential trade-offs of sociality for extreme deep-diving Blainville′s and Cuvier's beaked whales. These species perform highly synchronous group dives as a presumed predator-avoidance behaviour, but the benefits and costs of this on foraging have not been investigated. We show that group members could hear their companions for a median of at least 91% of the vocal foraging phase of their dives. This enables whales to coordinate their mean travel direction despite differing individual headings as they pursue prey on a minute-by-minute basis. While beaked whales coordinate their echolocation-based foraging periods tightly, individual click and buzz rates are both independent of the number of whales in the group. Thus, their foraging performance is not affected by intra-group competition or interference from group members, and they do not seem to capitalize directly on eavesdropping on the echoes produced by the echolocation clicks of their companions. We conclude that the close diving and vocal synchronization of beaked whale groups that quantitatively reduces predation risk has little impact on foraging performance.

scholarly journals The role of fire in UK peatland and moorland management: the need for informed, unbiased debate

2016 ◽  
Vol 371 (1696) ◽  
pp. 20150342 ◽  
Author(s):  
G. Matt Davies ◽  
Nicholas Kettridge ◽  
Cathelijne R. Stoof ◽  
Alan Gray ◽  
Davide Ascoli ◽  
...  
Keyword(s):  
Cultural Landscapes ◽  
Management Tool ◽  
Scientific Publications ◽  
Spatial And Temporal Scales ◽  
Complex Interactions ◽  
Trade Offs ◽  
Response And Recovery ◽  
Benefits And Costs

Fire has been used for centuries to generate and manage some of the UK's cultural landscapes. Despite its complex role in the ecology of UK peatlands and moorlands, there has been a trend of simplifying the narrative around burning to present it as an only ecologically damaging practice. That fire modifies peatland characteristics at a range of scales is clearly understood. Whether these changes are perceived as positive or negative depends upon how trade-offs are made between ecosystem services and the spatial and temporal scales of concern. Here we explore the complex interactions and trade-offs in peatland fire management, evaluating the benefits and costs of managed fire as they are currently understood. We highlight the need for (i) distinguishing between the impacts of fires occurring with differing severity and frequency, and (ii) improved characterization of ecosystem health that incorporates the response and recovery of peatlands to fire. We also explore how recent research has been contextualized within both scientific publications and the wider media and how this can influence non-specialist perceptions. We emphasize the need for an informed, unbiased debate on fire as an ecological management tool that is separated from other aspects of moorland management and from political and economic opinions. This article is part of the themed issue ‘The interaction of fire and mankind’.

scholarly journals Functional and evolutionary trade-offs co-occur between two consolidated memory phases in Drosophila melanogaster

2012 ◽  
Vol 279 (1744) ◽  
pp. 4015-4023 ◽  
Author(s):  
Fabrice Lagasse ◽  
Celine Moreno ◽  
Thomas Preat ◽  
Frederic Mery
Keyword(s):  
Evolutionary Dynamics ◽  
Functional Relationship ◽  
Learning Task ◽  
Long Term Memory ◽  
Phenotypic Traits ◽  
Trade Offs ◽  
Memory Phase ◽  
Fitness Benefits ◽  
Benefits And Costs

Memory is a complex and dynamic process that is composed of different phases. Its evolution under natural selection probably depends on a balance between fitness benefits and costs. In Drosophila , two separate forms of consolidated memory phases can be generated experimentally: anaesthesia-resistant memory (ARM) and long-term memory (LTM). In recent years, several studies have focused on the differences between these long-lasting memory types and have found that, at the functional level, ARM and LTM are antagonistic. How this functional relationship will affect their evolutionary dynamics remains unknown. We selected for flies with either improved ARM or improved LTM over several generations, and found that flies selected specifically for improvement of one consolidated memory phase show reduced performance in the other memory phase. We also found that improved LTM was linked to decreased longevity in male flies but not in females. Conversely, males with improved ARM had increased longevity. We found no correlation between either improved ARM or LTM and other phenotypic traits. This is, to our knowledge, the first evidence of a symmetrical evolutionary trade-off between two memory phases for the same learning task. Such trade-offs may have an important impact on the evolution of cognitive capacities. On a neural level, these results support the hypothesis that mechanisms underlying these forms of consolidated memory are, to some degree, antagonistic.

scholarly journals QTL × environment interactions underlie adaptive divergence in switchgrass across a large latitudinal gradient

2019 ◽  
Vol 116 (26) ◽  
pp. 12933-12941 ◽  
Author(s):  
David B. Lowry ◽  
John T. Lovell ◽  
Li Zhang ◽  
Jason Bonnette ◽  
Philip A. Fay ◽  
...  
Keyword(s):  
Local Adaptation ◽  
Panicum Virgatum ◽  
Environmental Gradients ◽  
Adaptive Divergence ◽  
Multiple Loci ◽  
Trade Offs ◽  
Locally Adaptive ◽  
Trait Locus ◽  
Benefits And Costs ◽  
Transplant Experiments

Local adaptation is the process by which natural selection drives adaptive phenotypic divergence across environmental gradients. Theory suggests that local adaptation results from genetic trade-offs at individual genetic loci, where adaptation to one set of environmental conditions results in a cost to fitness in alternative environments. However, the degree to which there are costs associated with local adaptation is poorly understood because most of these experiments rely on two-site reciprocal transplant experiments. Here, we quantify the benefits and costs of locally adaptive loci across 17° of latitude in a four-grandparent outbred mapping population in outcrossing switchgrass (Panicum virgatumL.), an emerging biofuel crop and dominant tallgrass species. We conducted quantitative trait locus (QTL) mapping across 10 sites, ranging from Texas to South Dakota. This analysis revealed that beneficial biomass (fitness) QTL generally incur minimal costs when transplanted to other field sites distributed over a large climatic gradient over the 2 y of our study. Therefore, locally advantageous alleles could potentially be combined across multiple loci through breeding to create high-yielding regionally adapted cultivars.

Decision Process, Choice, and Consequences: Israel's Deep-Penetration Bombing in Egypt, 1970

1978 ◽  
Vol 30 (4) ◽  
pp. 483-516 ◽  
Author(s):  
Avi Shlaim ◽  
Raymond Tanter
Keyword(s):  
Decision Making ◽  
National Security ◽  
Decision Process ◽  
Deep Penetration ◽  
Air Power ◽  
War Of Attrition ◽  
Trade Offs ◽  
Political Dimensions ◽  
Expected Benefits ◽  
Benefits And Costs

Weapons systems have a great impact on national security decision making. In particular, the use of air power for political coercion or “compellence” is a tempting option when a nation has overwhelming aerial capabilities relative to an opponent. Israel's decision to launch air attacks deep within Egypt during the 1970 War of Attrition suggests that coercive bombing may not yield expected benefits and effect unanticipated costs. The decision process that produced the bombing choice was characterized by inadequate search for alternatives; conservative revision of opinion; faulty evaluation of consequences in terms of likelihood, benefits, and costs; a failure to consider value trade-offs between military and political dimensions; and overestimation of the probability of preferred outcomes, coupled with underestimation of the likelihood of undesirable outcomes.

scholarly journals Cost and Benefit Analysis of Sports Tourism in Downhill Trek, Cikole Lembang, Bandung Barat District, West Java Province

2021 ◽  
Vol 5 (1) ◽  
pp. 1-9
Author(s):  
Hery Sigit Cahyadi ◽  
Herlan Suherlan ◽  
Muhammad Aldo Dewantara
Keyword(s):  
Cost Benefit ◽  
Sport Tourism ◽  
Benefit Analysis ◽  
Cost And Benefit ◽  
A Value ◽  
Cost Benefit Ratio ◽  
Calculation Results ◽  
Cost And Benefit Analysis ◽  
The Cost ◽  
Benefits And Costs

The purpose of the research is to analyze the cost and benefit analysis and find out the feasibility of sport tourism development at Cikole, Lembang in support the lacal community income. This research was conducted at the Downhill Track Cikole Bike Park in Lembang District and is a tourist attraction in the form of downhill bicycle track facilities. The number obtained is the result of calculating the comparison between benefits and costs and shows the value that can be defined as a feasible activity, because the numbers obtained have a value of more than 1 which is an indication of eligibility with a results in the form of> 1 declared feasible and if <1 (less of) is declared ineligible. Based on the calculation results of the Cost-Benefit Ratio (CBR) analysis with the final result in the form of a comparison value of 3,3128528. With the increase in the number of visits and opening of new jobs, the results of the analysis in the form of downhill activities have been declared feasible.

Sign in / Sign up

Export Citation Format

Share Document