scholarly journals The ECB Under the Threat of Fiscal Dominance – The Individual Central Banker Dimension

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Friedrich Heinemann ◽  
Jan Kemper
Keyword(s):  
Sovereign Debt ◽  
Central Banks ◽  
Board Members ◽  
Debt Level ◽  
Fiscal Dominance ◽  
Theoretical Reasoning ◽  
To Come ◽  
The Individual ◽  
Bank System ◽  
Individual Dimension

Abstract This paper examines the threat of fiscal dominance for central banks with a focus on the individual dimension. A general symptom of fiscal dominance is a feedback loop from sovereign debt developments to monetary policy decisions. Our theoretical reasoning clarifies under which assumptions the individual members in a federal central bank system should pay particular attention to their home regions’ public debt situation. We present empirical evidence for the existence of such a repercussion in the context of the ECB Council. Based on public statements regarding the Pandemic Emergency Purchase Programme (PEPP), we classify the governors of the euro area national central banks (NCB) and the ECB board members as “hawks”, “neutrals,” and “doves”. We correlate the resulting classification with their home countries’ debt level. The resulting pattern is consistent with what can be expected for a regime of fiscal dominance. Whereas the doves tend to come from high-debt countries, the average debt level of the hawks’ home countries is significantly lower. As expected, this pattern is even more pronounced for the NCB presidents than for board members.

A Moment to Come Together: Personal Reflections on Trayvon Martin

2013 ◽  
Vol 5 (1) ◽  
pp. 131-137
Author(s):  
Roxanne Christensen ◽  
LaSonia Barlow ◽  
Demetrius E. Ford
Keyword(s):  
Civil Rights ◽  
Doctoral Students ◽  
Professional Psychology ◽  
Direct Effects ◽  
The Social ◽  
To Come ◽  
Professional Responses ◽  
The Individual ◽  
Personal Reflections ◽  
Unique Individual

Three personal reflections provided by doctoral students of the Michigan School of Professional Psychology (Farmington Hills, Michigan) address identification of individual perspectives on the tragic events surrounding Trayvon Martin’s death. The historical ramifications of a culture-in-context and the way civil rights, racism, and community traumatization play a role in the social construction of criminals are explored. A justice orientation is applied to both the community and the individual via internal reflection about the unique individual and collective roles social justice plays in the outcome of these events. Finally, the personal and professional responses of a practitioner who is also a mother of minority young men brings to light the need to educate against stereotypes, assist a community to heal, and simultaneously manage the direct effects of such events on youth in society. In all three essays, common themes of community and growth are addressed from varying viewpoints. As worlds collided, a historical division has given rise to a present unity geared toward breaking the cycle of violence and trauma. The authors plead that if there is no other service in the name of this tragedy, let it at least contribute to the actualization of a society toward growth and healing.

scholarly journals Financing Growth through Remittances and Foreign Direct Investment: Evidences from Balkan Countries

2021 ◽  
Vol 14 (3) ◽  
pp. 117
Author(s):  
Esmeralda Jushi ◽  
Eglantina Hysa ◽  
Arjona Cela ◽  
Mirela Panait ◽  
Marian Catalin Voica
Keyword(s):  
Developing Economies ◽  
Central Banks ◽  
Sustainable Growth ◽  
Time Interval ◽  
Foreign Direct Investments ◽  
Factors Affecting ◽  
Balkan Countries ◽  
To Come ◽  
Sustainable Economic Growth ◽  
The Impact

The ultimate goal of central banks, worldwide, is to promote the foundations for sustainable economic growth. In the case of developing economies, in particular, such objective requires time, huge efforts, attention, and plenty of resources in order to be accomplished to the fullest degree. This paper thoroughly investigates key factors affecting Balkan countries’ economic development (as measured by gross domestic product (GDP) growth), focusing especially on the impact of remittances. The analysis was done over an 18-year time interval (2000–2017) and builds on 144 observations. The data figures were retrieved from the World Bank database while two dummies were created to test the impact of the last financial crisis (2008–2012). Econometric tools were employed to carry out a broad analysis on the interdependencies that exist and, in particular, to determine the role of remittance income on growth. The vector auto regressive model was estimated using EViews software, and was used to come up with relevant insights. Empirical findings suggest the following: population growth, remittances, and labor force participation are insignificant factors for sustainable growth. On the other hand, previous levels of GDP, trade, and foreign direct investments (FDIs) appear to be relevant for the predictor. This research provides up-to-date conclusions, which can be considered during the decision-making process of central banks, as well as by government policymakers.

Critical Analysis of the Zero Risk Weight Privilege for European Sovereign Debt in Light of Art. 124 TFEU

2020 ◽  
Vol 17 (1) ◽  
Author(s):  
Patrick Hauser
Keyword(s):  
Financial Institutions ◽  
Sovereign Debt ◽  
Banking System ◽  
Financial System ◽  
Significant Risk ◽  
Capital Adequacy ◽  
Individual Member ◽  
Member States ◽  
The Individual ◽  
Credit Institutions

AbstractThe zero risk weight privilege for European sovereign debt in the current capital adequacy requirements for credit institutions incentivises credit institutions to acquire and hold sovereign debt. However, it also poses a significant risk to the stability of the banking system and thus the financial system as a whole. It is argued that this privilege should not only be abolished due to the risk it entails but that it is also non conformant with EU primary law. Art. 124 TFEU prohibits privileged access of the EU and Member States' public sector to financial institutions except for prudential considerations. The protective purpose of Art. 124 TFEU to ensure sound budgetary policies by subjecting public borrowing to the same rules as borrowing by other market participants is thwarted by the uniform zero risk weight privilege. Further, as this privilege does not take into account the varying creditworthiness of the individual Member States it does not promote the soundness of financial institutions so as to strengthen the soundness of the financial system as whole, but rather endangers systemic stability. The zero risk weight privilege is therefore not based on prudential considerations and hence violates Art. 124 TFEU.

scholarly journals The Impact of the Church–State Model for an Effective Guarantee of Religious Freedom: A Study of the Peruvian Experience during the COVID-19 Pandemic

Laws ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 40
Author(s):  
Susana Mosquera
Keyword(s):  
Religious Freedom ◽  
Current Crisis ◽  
Dual Nature ◽  
Legal Model ◽  
The Individual ◽  
The Right ◽  
Institutional Guarantee ◽  
The Impact ◽  
Individual Dimension ◽  
The Church

During the COVID-19 pandemic, many governments established important restrictions on religious freedom. Due to a restrictive interpretation of the right to religious freedom, religion was placed in the category of “non-essential activity” and was, therefore, unprotected. Within this framework, this paper tries to offer a reflection on the relevance of the dual nature of religious freedom as an individual and collective right, since the current crisis has made it clear that the individual dimension of religious freedom is vulnerable when the legal model does not offer an adequate institutional guarantee to the collective dimension of religious freedom.

Coaching skills for recovery a decade of providing coaching skills for recovery training at a healthcare NHS foundation trust

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Helen Kathryn Cyrus
Keyword(s):  
Work Practice ◽  
Clinical Approach ◽  
Personal Recovery ◽  
Content Type ◽  
Coaching Skills ◽  
The Difference ◽  
To Come ◽  
The Individual ◽  
The Impact ◽  
The Brain

Purpose Overview of coaching for recovery. The paper aims to show an overview of work that was carried out over 11 years with groups of mental health and physical staff. As the facilitator who had run this course for the duration in Nottingham, this was an excellent opportunity to be at the forefront of a brand new project. Design/methodology/approach The introduction of the skills are taught over two consecutive days followed by a further day a month later. The idea of coaching is to be enabled to find the answers in themselves by the use of powerful questions and using the technique of the grow model, combined with practice enables the brain to come up with its own answers. Using rapport and enabling effective communication to deliver the outcome. Findings Evidence from staff/clients and the purpose of the paper shows that when you step back it allows the individual patients/staff to allow the brain to process to create to come up with their solutions, which then helps them to buy into the process and creates ownership. Research limitations/implications The evidence suggests that the approach that was there prior to the course was very much a clinical approach to working with clients and treating the person, administering medication and not focussing on the inner person or personal recovery. The staff review has shown that in the clinical context change is happening from the inside out. Practical implications “Helps change culture”; “change of work practice”; “it changed staff focus – not so prescriptive”; “powerful questions let clients come to their own conclusions”; “coaching gives the ability to find half full. Helps to offer reassurance and to find one spark of hope”. Social implications This has shown that the approach is now person-centred/holistic. This has been the “difference that has made the difference”. When this paper looks at the issues from a different angle in this case a coaching approach, applying technique, knowledge and powerful questions the results have changed. The same clients, same staff and same problems but with the use of a different approach, there is the evidence of a different outcome, which speaks for itself. The coaching method is more facilitative, therefore it illicit’s a different response, and therefore, result. Originality/value The results/evidence starts with the individual attending and their commitment to the process over the two-day course. Then going away for the four weeks/six for managers and a commitment again to practice. Returning to share the impact if any with the group. This, in turn, helps to inspire and gain motivation from the feedback to go back to work invigorated to keep going.

Music video in its contexts: popular music and post-modernism in the 1980s

Popular Music ◽  
1988 ◽  
Vol 7 (3) ◽  
pp. 247-266 ◽  
Author(s):  
Will Straw
Keyword(s):  
Popular Music ◽  
Rock Music ◽  
Surrounding Rock ◽  
Music Video ◽  
Post Modernism ◽  
Song Lyrics ◽  
Music Experience ◽  
To Come ◽  
The Individual

Writing on music video has had two distinctive moments in its brief history. The first wave of treatments tended to come from the culture surrounding rock music and from those who were primarily interested in music video as something which produced effects on that music. Here, two claims were most common, and generally expressed in the terms and the contexts of rock journalism:(1) that music video had made ‘image’ more important than the experience of music itself, with effects which were to be feared (for example, the potential difficulties for artists with poor ‘images’, the risk that theatricality and spectacle would take precedence over intrinsically ‘musical’ values, etc.);(2) that music video would result in a diminishing of the interpretative liberty of the individual music listener, who would now have visual or narrative interpretations of song lyrics imposed on him/her, in what would amount to a semantic and affective impoverishment of the popular music experience.

scholarly journals Will You Come Back to Contribute? Investigating the Inactivity of OSS Core Developers in GitHub

2021 ◽  
Author(s):  
Fabio Calefato ◽  
Marco Aurelio Gerosa ◽  
Giuseppe Iaffaldano ◽  
Filippo Lanubile ◽  
Igor Fabio Steinmacher
Keyword(s):  
Open Source ◽  
Open Source Software ◽  
State Transition ◽  
Active State ◽  
State Model ◽  
Novel Method ◽  
To Come ◽  
One Year ◽  
The Individual ◽  
To Receive

Abstract Several Open-Source Software (OSS) projects depend on the continuity of their development communities to remain sustainable. Understanding how developers become inactive or why they take breaks can help communities prevent abandonment and incentivize developers to come back. In this paper, we propose a novel method to identify developers’ inactive periods by analyzing the individual rhythm of contributions to the projects. Using this method, we quantitatively analyze the inactivity of core developers in 18 OSS organizations hosted on GitHub. We also survey core developers to receive their feedback about the identified breaks and transitions. Our results show that our method was effective for identifying developers’ breaks. About 94% of the surveyed core developers agreed with our state model of inactivity; 71% and 79% of them acknowledged their breaks and state transition, respectively. We also show that all core developers take breaks (at least once) and about a half of them (~ 45%) have completely disengaged from a project for at least one year. We also analyzed the probability of transitions to/from inactivity and found that developers who pause their activity have a ~ 35 to ~ 55% chance to return to an active state; yet, if the break lasts for a year or longer, then the probability of resuming activities drops to ~ 21–26%, with a ~ 54% chance of complete disengagement. These results may support the creation of policies and mechanisms to make OSS community managers aware of breaks and potential project abandonment.

scholarly journals Sources: Oil: A Cultural and Geographic Encyclopedia of Black Gold

2015 ◽  
Vol 54 (4) ◽  
pp. 83
Author(s):  
Paul MacLennan
Keyword(s):  
United States ◽  
International Relations ◽  
The United States ◽  
Monetary Value ◽  
Wide Range ◽  
To Come ◽  
The Individual ◽  
As Effects

In the winter of 2015, as this review is being written, the price of gasoline is plummeting in the United States and what this will mean for the individual, community, and country for the immediate future but also in years to come is unknown. There are a wide range of implications in politics, economics, and international relations as well as effects on what the individual pays for everyday groceries. It is therefore important that libraries provide their communities with the resources that include information and discussion on how energy and its monetary value interact with society.

scholarly journals Theorizing Cultural and Social Intersections of Age and Gender: The Approach of Anocriticism

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 826-826
Author(s):  
Roberta Maierhofer
Keyword(s):  
Cultural Construction ◽  
Cultural Representations ◽  
Four Dimensions ◽  
Gerontological Research ◽  
Gender And Age ◽  
Methodological Approaches ◽  
And Gender ◽  
Narrative Performance ◽  
The Individual ◽  
Individual Dimension

Abstract This contribution discusses empirical applications of the approach of ‘anocriticism’ in interdisciplinary gerontological research. Despite the connection in terms of epistemology and ontology, the intersection of gender and age has been mostly ignored, privileging works focusing either on age or gender (Calasanti & Slevin 2001:27; Denninger & Schütze 2017:7). Age/ing Studies, however, would not have been established as a field without the theoretical and methodological approaches of feminist theory (Maierhofer (2019:2). Anocriticism was originally developed in order to investigate cultural representations of age/ing (Maierhofer 2003, 2004b, 2004a, 2007, 2012), but has recently been taken up in social sciences (Ratzenböck 2016a, 2016b, 2017a, 2017b; Gales and Loos 2020, forthcoming) in order to draw attention to four dimensions: (a) age and aging’s collective cultural construction and relation to gender, (b) the individual dimension of aging, (c) people’s interpretative power and narrative performance, and (d) age/ing’s potential for resistance and change.

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