scholarly journals Does the use of a big data variable improve monetary policy estimates? Evidence from Mexico

2021 ◽  
Vol 10 (4) ◽  
pp. 383-393
Author(s):  
Luis Alberto Delgado-de-la-Garza ◽  
Gonzalo Adolfo Garza-Rodríguez ◽  
Daniel Alejandro Jacques-Osuna ◽  
Alejandro Múgica-Lara ◽  
Carlos Alberto Carrasco

We analyse the performance improvement on a monetary policy model of introducing non-conventional market attention (NCMA) indices generated using big data. To address this aim, we extracted top keywords by text mining Banco de Mexico’s minutes. Then, we used Google search information according to the top keywords and related queries to generate NCMA indices. Finally, we introduce as covariates the NCMA indices into a bivariate probit model of monetary policy and contrast several specifications to examine the improvement in the model estimates. Our results show evidence of the statistical significance of the NCMA indices where the expanded model performed better than models only including conventional economic and financial variables.

Author(s):  
Yue Liu ◽  
Hongyan Bai

With the development of the big data era and the opening of translation majors in colleges and universities, translation teaching is gradually receiving attention. However, there are still many problems in the training of translators in colleges and universities in terms of teachers, teaching time and teaching mode. In the context of the era of big data, this article uses questionnaires and data analysis, starting from the PACTE translation ability model, combined with constructivist learning theory, blended learning theory, and instructional design theory to analyze the problems of undergraduate translation ability. This article conducts a questionnaire survey on the 2018 students of XX University’s a major, and analyzes their English scores. Students’ bilingual ability is weak, and it is difficult to consider translation under the influence of context in the translation process; their strategic ability is not ideal, and they lack the ability to solve problems when they encounter specific translation problems. The English performance of the experimental class students who have undergone English translation teaching for one semester is significantly better than the control class students who have not received English translation teaching. Teachers can combine teaching theories to design English translation teaching and cultivate students’ awareness of comparative analysis in English learning. Teachers can cultivate students’ English thinking ability, promote them to master English better, and help them improve their English application ability.


2017 ◽  
Vol 37 (1) ◽  
pp. 45-64
Author(s):  
FÁBIO HENRIQUE BITTES TERRA ◽  
PHILIP ARESTIS

ABSTRACT The purpose of this contribution is to develop a Post Keynesian monetary policy model, presenting its goals, tools, and channels. The original contribution this paper develops, following (Keynes’s 1936, 1945) proposals, is the use of debt management as an instrument of monetary policy, along with the interest rate and regulation. Moreover, this paper draws its monetary policy model by broadly and strongly relying on Keynes’s original writings. A monetary policy model erected upon this basis relates itself directly to the Post Keynesian efforts to offer a monetary policy framework substantially different from the Inflation Targeting Regime of the New Macroeconomic Consensus.


2016 ◽  
Vol 16 (6) ◽  
pp. 245-255 ◽  
Author(s):  
Li Xie ◽  
Wenbo Zhou ◽  
Yaosen Li

Abstract In the era of big data, people have to face information filtration problem. For those cases when users do not or cannot express their demands clearly, recommender system can analyse user’s information more proactive and intelligent to filter out something users want. This property makes recommender system play a very important role in the field of e-commerce, social network and so on. The collaborative filtering recommendation algorithm based on Alternating Least Squares (ALS) is one of common algorithms using matrix factorization technique of recommendation system. In this paper, we design the parallel implementation process of the recommendation algorithm based on Spark platform and the related technology research of recommendation systems. Because of the shortcomings of the recommendation algorithm based on ALS model, a new loss function is designed. Before the model is trained, the similarity information of users and items is fused. The experimental results show that the performance of the proposed algorithm is better than that of algorithm based on ALS.


Lupus ◽  
2017 ◽  
Vol 26 (8) ◽  
pp. 886-889 ◽  
Author(s):  
M Radin ◽  
S Sciascia

Objective People affected by chronic rheumatic conditions, such as systemic lupus erythematosus (SLE), frequently rely on the Internet and search engines to look for terms related to their disease and its possible causes, symptoms and treatments. ‘Infodemiology’ and ‘infoveillance’ are two recent terms created to describe a new developing approach for public health, based on Big Data monitoring and data mining. In this study, we aim to investigate trends of Internet research linked to SLE and symptoms associated with the disease, applying a Big Data monitoring approach. Methods We analysed the large amount of data generated by Google Trends, considering ‘lupus’, ‘relapse’ and ‘fatigue’ in a 10-year web-based research. Google Trends automatically normalized data for the overall number of searches, and presented them as relative search volumes, in order to compare variations of different search terms across regions and periods. The Menn–Kendall test was used to evaluate the overall seasonal trend of each search term and possible correlation between search terms. Results We observed a seasonality for Google search volumes for lupus-related terms. In the Northern hemisphere, relative search volumes for ‘lupus’ were correlated with ‘relapse’ (τ = 0.85; p = 0.019) and with fatigue (τ = 0.82; p = 0.003), whereas in the Southern hemisphere we observed a significant correlation between ‘fatigue’ and ‘relapse’ (τ = 0.85; p = 0.018). Similarly, a significant correlation between ‘fatigue’ and ‘relapse’ (τ = 0.70; p < 0.001) was seen also in the Northern hemisphere. Conclusion Despite the intrinsic limitations of this approach, Internet-acquired data might represent a real-time surveillance tool and an alert for healthcare systems in order to plan the most appropriate resources in specific moments with higher disease burden.


2021 ◽  
Vol 2021 ◽  
pp. 1-11
Author(s):  
Lin Yang

In recent years, people have paid more and more attention to cloud data. However, because users do not have absolute control over the data stored on the cloud server, it is necessary for the cloud storage server to provide evidence that the data are completely saved to maintain their control over the data. Give users all management rights, users can independently install operating systems and applications and can choose self-service platforms and various remote management tools to manage and control the host according to personal habits. This paper mainly introduces the cloud data integrity verification algorithm of sustainable computing accounting informatization and studies the advantages and disadvantages of the existing data integrity proof mechanism and the new requirements under the cloud storage environment. In this paper, an LBT-based big data integrity proof mechanism is proposed, which introduces a multibranch path tree as the data structure used in the data integrity proof mechanism and proposes a multibranch path structure with rank and data integrity detection algorithm. In this paper, the proposed data integrity verification algorithm and two other integrity verification algorithms are used for simulation experiments. The experimental results show that the proposed scheme is about 10% better than scheme 1 and about 5% better than scheme 2 in computing time of 500 data blocks; in the change of operation data block time, the execution time of scheme 1 and scheme 2 increases with the increase of data blocks. The execution time of the proposed scheme remains unchanged, and the computational cost of the proposed scheme is also better than that of scheme 1 and scheme 2. The scheme in this paper not only can verify the integrity of cloud storage data but also has certain verification advantages, which has a certain significance in the application of big data integrity verification.


2015 ◽  
Vol 7 (1) ◽  
pp. 44-76 ◽  
Author(s):  
Mark Gertler ◽  
Peter Karadi

We provide evidence on the transmission of monetary policy shocks in a setting with both economic and financial variables. We first show that shocks identified using high frequency surprises around policy announcements as external instruments produce responses in output and inflation that are typical in monetary VAR analysis. We also find, however, that the resulting “modest” movements in short rates lead to “large” movements in credit costs, which are due mainly to the reaction of both term premia and credit spreads. Finally, we show that forward guidance is important to the overall strength of policy transmission. (JEL E31, E32, E43, E44, E52, G01)


2000 ◽  
Vol 90 (3) ◽  
pp. 367-390 ◽  
Author(s):  
Jeffrey C Fuhrer

This paper explores a monetary-policy model with habit formation for consumers, in which consumers' utility depends in part on current consumption relative to past consumption. The empirical tests developed in the paper show that one can reject the hypothesis of no habit formation with tremendous confidence, largely because the habit-formation model captures the gradual hump-shaped response of real spending to various shocks. The paper then embeds the habit-consumption specification in a monetary-policy model and finds that the responses of both spending and inflation to monetary-policy actions are significantly improved by this modification. (JEL D12, E52, E43)


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