scholarly journals Regime specific spillover across cryptocurrencies and the role of COVID-19

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Syed Jawad Hussain Shahzad ◽  
Elie Bouri ◽  
Sang Hoon Kang ◽  
Tareq Saeed
Keyword(s):  
Network Analysis ◽  
Regime Switching ◽  
Exogenous Variables ◽  
Vector Autoregressive ◽  
Daily Return ◽  
High Volatility ◽  
Pricing Factors ◽  
Volatility Regimes ◽  
Do So

AbstractThe aim of this study is to examine the daily return spillover among 18 cryptocurrencies under low and high volatility regimes, while considering three pricing factors and the effect of the COVID-19 outbreak. To do so, we apply a Markov regime-switching (MS) vector autoregressive with exogenous variables (VARX) model to a daily dataset from 25-July-2016 to 1-April-2020. The results indicate various patterns of spillover in high and low volatility regimes, especially during the COVID-19 outbreak. The total spillover index varies with time and abruptly intensifies following the outbreak of COVID-19, especially in the high volatility regime. Notably, the network analysis reveals further evidence of much higher spillovers in the high volatility regime during the COVID-19 outbreak, which is consistent with the notion of contagion during stress periods.

scholarly journals A CONDITIONAL MARKOV REGIME SWITCHING MODEL TO STUDY MARGINS: APPLICATION TO THE FRENCH FUEL RETAIL MARKETS

2015 ◽  
Vol 21 (2) ◽  
Author(s):  
RAPHAËL HOMAYOUN BOROUMAND ◽  
STÉPHANE GOUTTE ◽  
SIMON PORCHER ◽  
THOMAS PORCHER
Keyword(s):  
Markov Chain ◽  
Market Structure ◽  
Regime Switching ◽  
Markov Regime Switching ◽  
Regime Switching Model ◽  
Switching Model ◽  
The Standard Model ◽  
High Volatility ◽  
Volatility Regimes ◽  
Markov Regime Switching Model

<p class="ESRBODY">This paper uses a regime-switching model that is built on mean-reverting and local volatility processes combined with two Markov regime-switching processes to understand the market structure of the French fuel retail market over the period 1990-2013. The volatility structure of these models depends on a first exogenous Markov chain, whereas the drift structure depends on a conditional Markov chain with respect to the first one. Our model allows us to identify mean reverting and switches in the volatility regimes of the margins. In the standard model of cartel coordination, volatility can increase competition. We find that cartelization is even stronger in phases of high volatility. Our best explanation is that consumers consider volatility in prices to be a change in market structure and are therefore less likely to search for lower-priced retailers, thus increasing the market power of the oligopoly. Our findings provide a better understanding of the behavior of oligopolies.</p>

A Re-Appraisal of the Role of Blood Coagulation and Platelets in the Generalized Shwartzman Phenomenon

1966 ◽  
Vol 15 (03/04) ◽  
pp. 519-538 ◽  
Author(s):  
J Levin ◽  
E Beck
Keyword(s):  
Blood Coagulation ◽  
The State ◽  
Coagulation System ◽  
Renal Lesions ◽  
Intravascular Coagulation ◽  
Renal Glomeruli ◽  
Coagulation Mechanism ◽  
Shwartzman Phenomenon ◽  
Do So

SummaryThe role of intravascular coagulation in the production of the generalized Shwartzman phenomenon has been evaluated. The administration of endotoxin to animals prepared with Thorotrast results in activation of the coagulation mechanism with the resultant deposition of fibrinoid material in the renal glomeruli. Anticoagulation prevents alterations in the state of the coagulation system and inhibits development of the renal lesions. Platelets are not primarily involved. Platelet antiserum produces similar lesions in animals prepared with Thorotrast, but appears to do so in a manner which does not significantly involve intravascular coagulation.The production of adrenal cortical hemorrhage, comparable to that seen in the Waterhouse-Friderichsen syndrome, following the administration of endotoxin to animals that had previously received ACTH does not require intravascular coagulation and may not be a manifestation of the generalized Shwartzman phenomenon.

‘Wheels have been set in motion’: Geocentrism and Relativity in Tom Stoppard’s Rosencrantz and Guildenstern Are Dead

2018 ◽  
Author(s):  
Liliane Campos
Keyword(s):  
20Th Century ◽  
Film Adaptation ◽  
Frames Of Reference ◽  
Quantum Uncertainty ◽  
Galilean Relativity ◽  
Modern Physics ◽  
20Th Century Physics ◽  
Time Specific ◽  
Do So

By decentring our reading of Hamlet, Stoppard’s tragicomedy questions the legitimacy of centres and of stable frames of reference. So Liliane Campos examines how Stoppard plays with the physical and cosmological models he finds in Hamlet, particularly those of the wheel and the compass, and gives a new scientific depth to the fear that time is ‘out of joint’. In both his play and his own film adaptation, Stoppard’s rewriting gives a 20th-century twist to these metaphors, through references to relativity, indeterminacy, and the role of the observer. When they refer to the uncontrollable wheels of their fate, his characters no longer describe the destruction of order, but uncertainty about which order is at work, whether heliocentric or geocentric, random or tragic. When they express their loss of bearings, they do so through the thought experiments of modern physics, from Galilean relativity to quantum uncertainty, drawing our attention to shifting frames of reference. Much like Schrödinger’s cat, Stoppard’s Rosencrantz and Guildenstern are both dead and alive. As we observe their predicament, Campos argues, we are placed in the paradoxical position of the observer in 20th-century physics, and constantly reminded that our time-specific relation to the canon inevitably determines our interpretation.

Helping when desire is low: The role of Expectancy in helping

2020 ◽  
Author(s):  
Małgorzata Kossowska
Keyword(s):  
Experimental Studies ◽  
Helping Behavior ◽  
Perceived Effectiveness ◽  
Do So

One might assume that the desire to help (here described as Want) is the essential driver of helping declarations and/or behaviors. However, even if desire to help is low, helping behavior may still occur if the expectancy regarding the perceived effectiveness of helping is high. We tested these predictions in a set of three experimental studies. In all three, we measured the desire to help (Want) and the Expectancy that the aid would be impactful for the victim; in addition, we manipulated Expectancy in Study 3. In Studies 1 and 3, we measured the participants’ declaration to help while in Study 2, their helping behavior was examined. In all three studies, we used variations of the same story about a victim. The results supported our hypothesis. Thus, the studies help to tease apart the determinants of helping behavior under conditions of lowered desire to do so, an issue of great importance in public policymaking.

History and Transport Policy

Transfers ◽  
2014 ◽  
Vol 4 (1) ◽  
pp. 45-62 ◽  
Author(s):  
Ueli Haefeli ◽  
Fritz Kobi ◽  
Ulrich Seewer
Keyword(s):  
Knowledge Transfer ◽  
Transport Policy ◽  
Science And Policy ◽  
Direct Knowledge ◽  
Academic System ◽  
Decision Making Processes ◽  
Policy And Planning ◽  
Policy Solutions ◽  
Do So

Based on analysis of two case studies in the Canton of Bern, this article examines the question of knowledge transfer from history to transport policy and planning in the recent past in Switzerland. It shows that for several reasons, direct knowledge transfer did not occur. In particular, historians have seldom become actively involved in transport planning and policy discourses, probably partly because the academic system offers no incentive to do so. However, historical knowledge has certainly influenced decision-making processes indirectly, via personal reflection of the actors in the world of practice or through Switzerland's strongly developed modes of political participation. Because the potential for knowledge transfer to contribute to better policy solutions has not been fully utilized, we recommend strengthening the role of existing interfaces between science and policy.

Stative Morpheme In Shimakonde, An Anticausative Morpheme?

2017 ◽  
Vol 19 ◽  
pp. 343-376
Author(s):  
Ronaldo Rodrigues De Paula
Keyword(s):  
External Argument ◽  
Bantu Language ◽  
Northern Regions ◽  
Do So

Tis paper aims to describe the syntax of the constructions that present the verbal extensions {-ik-} and {-uk-} and their allomorphs in Shimakonde, a Bantu language classifed as P23 in the Guthrie classifcation (GUTHRIE 1967-71). Tis language is spoken in the northern regions of Mozambique and Tanzania. Tese verbal extensions are reported in literature under the labels of stative, impositive, pseudo-passive, neuter, and quasi-passive (DOKE, 1947; SATYO, 1985; MCHOMBO, 1993; DUBINSKY SIMANGO, 1996; BENTLEY KULEMEKA, 2001; LIPHOLA, 2001; NGUNGA, 2004; KHUMALO, 2009; LEACH, 2010; LANGA, 2013). Te addition of the {-ik-} or {-uk-} morphemes to the verb structure usually demotes or suppresses the external argument, turning a basically transitive predicate into an intransitive one. Tis paper aims to investigate in Shimakonde if alternations from a dyadic to a monadic predicate, through the use of one of the aforementioned morphemes, are instances of the phenomenon known in literature as causative/ anticausative alternation (HASPELMATH, 1987, 1993; LEVIN RAPPAPORT HOVAV, 1992, 1995; NAVES, 1998, 2005; VAN HOUT, 2004; OLIVEIRA, 2011; KALLULLI, 2007). In order to do so, I analyze the grammatical role of this morpheme with two Shimakonde native consultants from different Mozambique districts (Mocimboa da Praia and Montepuez). Te feldwork activities consisted of translations of sentences from Portuguese to Shimakonde, testing the grammaticality of the proposed sentences. In order to examine the data that were collected, I adopted the Alexiadou, Anagnostopoulou and Schäfer (2006) refnement of the verbal categories by Levin Rappaport Hovav (1992, 1995). One of the results obtained is that the verbal extensions display an atelic reading (giving rise to stative interpretation) or a telic reading (giving rise to anticausative or passive interpretation). To account for the different interpretations in these constructions, I propose distinct associations between Asp head and Voice head in accordance with Kratzer (1996), Pylkkänen (2002), van Hout (2004), and Oliveira (2010).

Keeping the Vision Alive: The Role of Networks in National Memorial Building A Case Study of the Vietnam Women’s Memorial and the Black Revolutionary War Patriots Memorial

Public Voices ◽  
2016 ◽  
Vol 11 (1) ◽  
pp. 89
Author(s):  
Amy Probsdorfer Kelley ◽  
John C. Morris
Keyword(s):  
Network Analysis ◽  
Revolutionary War ◽  
The Other ◽  
Perceived Popularity ◽  
National Mall ◽  
Compare And Contrast

The process to win approval to build a national memorial on the National Mall inWashington, DC is both long and complex. Many memorials are proposed, but few are chosen to inhabit the increasingly scarce space available on the Mall. Through the use of network analysis we compare and contrast two memorial proposals, with an eye toward understanding why one proposal was successful while the other seems to have failed. We conclude that the success of a specific memorial has less to do with the perceived popularity of the person or event to be memorialized, and more to do with how the sponsors use the network of people and resources available to advocate for a given proposal.

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