scholarly journals Framing Financial Markets: A Methodological Account

2017 ◽  
Vol 2 (2) ◽  
pp. 160-173
Author(s):  
Sheila Dow
Keyword(s):  
Financial Markets ◽  
Methodological Approach ◽  
Central Banks ◽  
Social Phenomenon ◽  
Base Analysis ◽  
The Face ◽  
Market Turbulence ◽  
Inflation Targets ◽  
The Difference ◽  
The Way

The way in which financial markets are framed depends on who is doing the framing, although there are reflexive interdependencies between these framings. The underlying argument of the paper is that the way in which financial markets are framed in theory should reflect the different framings in the economy, and that this may benefit from input from other disciplines. Mainstream economics frames financial markets as archetypical competitive markets, focusing on prices as the key information on which to base analysis. This follows from traditional positivist methodology where computability is the key to theory appraisal. Central banks draw on this analysis for their own framing, but modify it significantly in the face of the requirement to take decisions under palpable uncertainty; some understanding is perceived to be necessary for prediction. Increasingly their role is seen as manipulating expectations in order to achieve inflation targets. Participants in financial markets in turn employ quantitative models for forming their expectations; in conditions of market turbulence the limits to these models become evident, and indeed material to prices themselves. Further, for these participants, markets are a social phenomenon. Finally the households whose experience of financial markets enables or constrains spending frame financial markets in yet another way. Understanding of these various framings would benefit from recourse to other disciplines, notably psychology, sociology and rhetoric. But methodological approach is critical for how these inputs can enhance theorising, as exemplified by the difference between the old and new behavioural economics.

Regulation and Regulators, 1993–2006

2020 ◽  
pp. 267-297
Author(s):  
Ranald C. Michie
Keyword(s):  
Financial Markets ◽  
Central Banks ◽  
Data Handling ◽  
Financial Systems ◽  
Settlement Systems ◽  
The Face ◽  
Implicit Belief ◽  
National Boundaries ◽  
Financial Transactions

By the 1990s the combination of internal deregulation and globalization led to a spectacular growth in the value of financial transactions both inside countries and across borders. There was a commensurate increase in pressure on payment and settlement systems to cope with the huge volume and variety of transactions. All this was of concern to those who regulated financial systems around the world. The speed and extent of the changes taking place, assisted by the advances made in the technology of communication and data handling, forced regulators to search for new ways of coping with the consequences, as the methods of the past were becoming inadequate. Globalization meant that national boundaries could no longer define the parameters within which financial systems operated, as all became integrated into international flows of short-term money and long-term finance. The complexities arose not only from the process of globalization and technological change but also from the disappearance of the barriers that had long separated different components within national financial systems. Rather than serving separate communities banks and financial markets increasingly competed with each other. In the face of these enormous changes regulators turned to the megabanks as a safe and secure way of monitoring and policing global financial markets. There was an implicit belief that the size and sophistication of these megabanks had made them to big to fail or even require the central banks to play a role as lenders of last resort.

scholarly journals Examining the success of the central banks in inflation targeting countries: the dynamics of the inflation gap and institutional characteristics

2018 ◽  
Vol 22 (1) ◽  
Author(s):  
Omid M. Ardakani ◽  
N. Kundan Kishor
Keyword(s):  
Inflation Targeting ◽  
Panel Data Analysis ◽  
Central Banks ◽  
Institutional Characteristics ◽  
Macroeconomic Performance ◽  
Fiscal Discipline ◽  
Policy Regime ◽  
Conditional Mean ◽  
Inflation Targets ◽  
The Difference

AbstractThis paper analyzes the performance of the central banks in inflation targeting (IT) countries by examining their success in achieving their explicit inflation targets. For this purpose, we decompose the inflation gap, the difference between actual inflation and the inflation target, into predictable and unpredictable components. We argue that the central banks are successful if the predictable component diminishes over time. The predictable component of the inflation gap is measured by the conditional mean of a parsimonious time-varying autoregressive model. Our results find considerable heterogeneity in the success of these IT countries in achieving their targets at the start of this policy regime. Our findings suggest that the central banks of the IT adopting countries started targeting inflation implicitly before becoming an explicit inflation targeter. The panel data analysis suggests that the relative success of these countries in reducing the gap is influenced by their institutional characteristics, particularly fiscal discipline and macroeconomic performance.

11 The Construction of Financial Contracts

2015 ◽  
Author(s):  
Bamford Colin
Keyword(s):  
Financial Markets ◽  
Common Law ◽  
Civil Law ◽  
Construction Method ◽  
International Financial Markets ◽  
Financial Contracts ◽  
Subjective Approach ◽  
Contractual Term ◽  
The Difference ◽  
The Way

The chapter considers the way in which courts in common law countries interpret financial contracts. It begins by drawing a contrast between the objective of the approach adopted by common law countries (the objective approach) and that which underpins the construction method used in civil law countries (the subjective approach). It argues that the objective approach is more suitable for the purposes of the international financial markets. The chapter then discusses the difference between the meaning of a contractual term and the affect that the operation of the term produces. The chapter moves on to consider the principles by which common law courts determine the meaning of contracts, before concluding with a description of the rules dealing with rectification and with the implication of terms in contracts.

Klein with Lacan: A Study on the Reception of Lacanian Ideas in Uruguay and Its Effects on Clinical Practices (1955–82)

2020 ◽  
Vol 22 (3) ◽  
pp. 341-361
Author(s):  
Gonzalo Grau-Pérez ◽  
J. Guillermo Milán
Keyword(s):  
Clinical Practice ◽  
Clinical Material ◽  
Clinical Practices ◽  
Before And After ◽  
The Difference ◽  
The 1960S ◽  
The Relationship ◽  
Discursive Approach ◽  
The Way ◽  
Clinical Cases

In Uruguay, Lacanian ideas arrived in the 1960s, into a context of Kleinian hegemony. Adopting a discursive approach, this study researched the initial reception of these ideas and its effects on clinical practices. We gathered a corpus of discursive data from clinical cases and theoretical-doctrinal articles (from the 1960s, 1970s and 1980s). In order to examine the effects of Lacanian ideas, we analysed the difference in the way of interpreting the clinical material before and after Lacan's reception. The results of this research illuminate some epistemological problems of psychoanalysis, especially the relationship between theory and clinical practice.

AN EXPLORATION OF GENDER DIFFERENCES IN TEENAGERS’ USE, CONSUMPTION AND DIGITAL PRODUCTION

2020 ◽  
Author(s):  
Corina-Maricica Seserman ◽  
Daniela Cojocaru
Keyword(s):  
Gender Differences ◽  
Social Media ◽  
Data Collection ◽  
Gender Identity ◽  
Online Survey ◽  
Peer Group ◽  
Methodological Approach ◽  
Digital Content ◽  
Media Consumption ◽  
The Way

Today’s teenagers have a very close relationship with ICTs and the digital space related to them, as they have impacted the way the youth constructs their sense of self and the tools they use to perform their carefully constructed identity. One key element which influences the way one constructs their views by themselves is within the boundaries set by their biological sex and therefore through the behaviors associated with their asigned gender. Through the symbolic interactionist lense, or more specifically through Goffman's dramaturgical theory on the manner in which one presents him/herself in society, this paper looks at the manner in which teenagers use social media platforms and at the way they consume and create digital content in order to present their gender identity. The way teenagers consume and produce digital content differs and depends on how they interpret their ideals of femininity and masculinity, which are afterwards reproduced in the content they post on their social media pages. Therefore this research is an attempt to understand what are the factors teenagers take in account when consuming and producing content. What gender differences can be observed in regards to new media consumption? What difference can be observed in online activity behaviors between males and females? How do they feel about their gender identity concerning fitting in with their peer group? A mix-methodological approach was engaged in the data collection process. In the first stage of the research highschool students (n=324) from the city of Suceava (Romania) participated in taking an online survey. The initial intent was to meet with the young respondents in person, but due to the COVID-19 pandemic this was deemed impossible. For the second stage of data collection, six of the participants who took the online survey were invited to participate in a focus group designed to grasp a better understanding of the results from the previous stage. The discovered findings uncover engaging gender similarities and differences in social media consumption and the type, subject, matter and style in which they posted their content, but also in regards to the performance of the self between the online and offline space.

Ragam Qiraat Al-Qur'an

SUHUF ◽  
2015 ◽  
Vol 2 (1) ◽  
pp. 53-72
Author(s):  
Ahmad Fathoni
Keyword(s):  
The Third ◽  
The Difference ◽  
The Way

The object of the study of the knowledge of the variety of the Quranic reading  is the  Qur'an itself. The focus is on the difference of the reading and its articulation. The method is based on the riwayat or narration which is originated from the Prophet (Rasulullah saw) and its use is to be one of the instruments to keep the originality of the Qur’an. The validity of the reading the Qur’an is to be judged based on the valid chain  (sanad ¡a¥ī¥)  in accord with the Rasm U£mānÄ« as well as with the  Arabic grammar. Whereas the qualification of its originality is divided into six stages as follow: the first is mutawātir, the second is masyhÅ«r, the third is āhād, the fourth is syaz, the fifth is maudū‘, and the six is mudraj. Of this six catagories, the readings which can be included in the catagory of mutawātir are Qiraat Sab‘ah (the seven readings) and Qiraat ‘Asyrah  (the ten readings). To study this knowledge of reading the Qur’an (ilmu qiraat), one is advised to know about special terms being used such as  qiraat  (readings), riwayat (narration), tarÄ«q (the way), wajh (aspect), mÄ«m jama‘, sukÅ«n mÄ«m jama‘ and many others.

Through the Lens of Gadamer’s Hermeneutics: In comparison between Amina Wadud’s and Mohammed Talbi’s Interpretations of Q. 4:34

SUHUF ◽  
2017 ◽  
Vol 9 (2) ◽  
pp. 193-214
Author(s):  
Afifur Rochman Sya'rani
Keyword(s):  
Gender Inequality ◽  
Married Couple ◽  
Contextual Approach ◽  
The Status ◽  
Similarities And Differences ◽  
The Difference ◽  
Muslim Scholars ◽  
The Way

Most of traditional Muslim exegetes interpret Q. 4:34 in terms of maintaining the superiority of men over women. Some progressive Muslim scholars then insist a contextual approach to the verse to criticize gender inequality. Among some progressive Muslim scholars, this article comparatively examines the interpretations of Amina Wadud and Mohammed Talbi of Q. 4:34. Although both of them propose a contextual reading of the verse, they have different intellectual background, approach and method in interpreting the Qur’ān. The questions are to what extent the similarities and differences of both Wadud’s and Talbi’s interpretation of Q. 4:34 and how far their interpretations reflect their respective intention and perspective? Applying Gadamer’s hermeneutical approach, the article concludes that [1] Both Wadud and Talbi argue that the verse does not establish the superiority of men over women, but acknowledges duties division among married couple; [2] the difference among their interpretations is on the status of relationship among married couple; [3] Wadud’s and Talbi’s interpretations represent their respective hermeneutical situations and the way they define ontologically the nature of  interpretation and Qur’anic hermeneutics affect on producing the meanings of the verse.

Ronald Coase and the Difference between Markets and Firms

2018 ◽  
Author(s):  
Abraham A. Singer
Keyword(s):  
Transaction Cost ◽  
Economic Activity ◽  
Transaction Cost Economics ◽  
Theory Of The Firm ◽  
Tabular Form ◽  
Specific Investment ◽  
The Difference ◽  
Marginal Revolution ◽  
The Way

This chapter reviews the development of transaction cost economics and unpacks its theory of the firm. The chapter begins with the marginal revolution in economics and how it altered the way economists understood the corporation. It then reviews the work of Ronald Coase and Oliver Williamson, explaining how they provided a novel account of firms. Transaction cost economics emphasizes how firms use hierarchy and bureaucracy to overcome problems of opportunism and asset-specific investment to coordinate some types of economic activity more efficiently than markets can. The transaction cost account of the corporation’s productivity component is shown in tabular form in comparison with its historical forerunners reviewed in the previous chapter.

The Difference in Facial Movement Between the Medial and the Lateral Midface: A 3D Skin Surface Vector Analysis

2021 ◽  
Author(s):  
David L Freytag ◽  
Michael G Alfertshofer ◽  
Konstantin Frank ◽  
Dmitry V Melnikov ◽  
Nicholas Moellhoff ◽  
...  
Keyword(s):  
3D Imaging ◽  
Functional Anatomy ◽  
Skin Surface ◽  
Facial Movements ◽  
Anatomic Location ◽  
Objective Evidence ◽  
The Face ◽  
Functional Boundary ◽  
The Mean ◽  
The Difference

Abstract Background Our understanding of the functional anatomy of the face is constantly improving. To date, it is unclear whether the anatomic location of the line of ligaments has any functional importance during normal facial movements such as smiling. Objectives It is the objective of the present study to identify differences in facial movements between the medial and lateral midface by means of skin vector displacement analyses derived from 3D imaging and to further ascertain whether the line of ligaments has both a structural and functional significance in these movements. Methods The study sample consisted of 21 healthy volunteers (9 females & 12 males) of Caucasian ethnic background with a mean age of 30.6 (8.3) years and a mean BMI of 22.57 (2.5) kg/m 2. 3D images of the volunteers’ faces in repose and during smiling (Duchenne type) were taken. 3D imaging-based skin vector displacement analyses were conducted. Results The mean horizontal skin displacement was 0.08 (2.0) mm in the medial midface (lateral movement) and was -0.08 (1.96) mm in the lateral midface (medial movement) (p = 0.711). The mean vertical skin displacement (cranial movement of skin toward the forehead/temple) was 6.68 (2.4) mm in the medial midface whereas it was 5.20 (2.07) mm in the lateral midface (p = 0.003). Conclusions The results of this study provide objective evidence for an antagonistic skin movement between the medial and the lateral midface. The functional boundary identified by 3D imaging corresponds to the anatomic location of the line of ligaments.

scholarly journals Behavioral brittleness: the case for strategic behavioral public policy

2021 ◽  
pp. 1-26
Author(s):  
Ruth Schmidt ◽  
Katelyn Stenger
Keyword(s):  
Public Policy ◽  
Problem Solving ◽  
Methodological Approach ◽  
Contextual Cues ◽  
Short Term ◽  
Strategic Approach ◽  
The Face ◽  
The Creation ◽  
Impact Problem

Abstract Despite widespread recognition that behavioral public policy (BPP) needs to move beyond nudging if the field is to achieve more significant impact, problem-solving approaches remain optimized to achieve tactical success and are evaluated by short-term metrics with the assumption of stable systems. As a result, current methodologies may contribute to the development of solutions that appear well formed but become ‘brittle’ in the face of more complex contexts if they fail to consider important contextual cues, broader system forces, and emergent conditions, which can take three distinct forms: contextual, systemic, and anticipatory brittleness. The Covid-19 pandemic and vaccination rollout present an opportunity to identify and correct interventional brittleness with a new methodological approach – strategic BPP (SBPP) – that can inform the creation of more resilient solutions by embracing more diverse forms of evidence and applied foresight, designing interventions within ecosystems, and iteratively developing solutions. To advance the case for adopting a SBPP and ‘roughly right’ modes of inquiry, we use the Covid-19 vaccination rollout to define a new methodological roadmap, while also acknowledging that taking a more strategic approach may challenge current BPP norms.

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