scholarly journals Fiat Lux and Crony Capitalism - The Impact of Monetary and Fiscal Policies in the Automobile Industry in USA and Europe from 2001 to 2010

2018 ◽  
pp. 107-163
Author(s):  
Patrick Reimers
Keyword(s):  
Business Cycle ◽  
Automotive Industry ◽  
Subprime Crisis ◽  
Fiscal Policies ◽  
Business Cycle Theory ◽  
Long Term Effects ◽  
Short Term ◽  
Fractional Reserve Banking ◽  
Monetary Policies ◽  
The Impact

This paper focuses on detecting the short-term and long-term effects of monetary and fiscal policies on the US-American and European automotive market in the period from 2001 to 2010, looking at expansionary monetary policies, credit expansions, bail-outs and scrappage campaigns. The study aims to explain the reasons of the latest subprime-crisis, whose negative effects were in particular visible in the period from 2008 to 2010, using the Austrian Business Cycle theory to detect its validity for the automotive industry. As for fis-cal policies, the impact of incentives such as scrappage campaigns and other state interventions on the automotive industry will be critically evaluated. The target is to detect causalities, distinguishing between apparent symptoms and actual causes, to define whether artificial short-term economic booms caused by expansive monetary policies and public interventionism have ultimately led to the recent economic crisis. However, apart from empirically evaluating the impact of monetary and fiscal policies on the automotive sector within the men-tioned period, this paper also pretends to highlight the general crucial rele-vance of dynamic efficiency and entrepreneurial creativity and consequently the automotive OEMs’ need to detect market niches in order to optimize their company’s sustainability and competitiveness. Keywords: Fiscal policies, monetary policies, automotive industry, credit expan-sion, fractional reserve banking, public incentives, bailouts, USA, Europe, Aus-trian Business Cycle Theory JEL Classification: E12, E14, E32, E43, E51, E52, E62, E63, G33, H21, N12, N14 Resumen: Este trabajo se centra en detectar los efectos a corto y largo plazo de las políticas monetarias y fiscales en el mercado automotriz estadounidense y europeo en el período de 2001 a 2010, analizando las políticas monetarias expansivas, las expansiones de crédito, los ‘bailouts’ y las campañas de des-guace. El objetivo del estudio es explicar los orígenes de la última crisis sub-prime, cuyos efectos negativos fueron particularmente visibles en el período de 2008 a 2010, utilizando la teoría austriaca del ciclo económico para detectar su validez para la industria automotriz. En cuanto a las políticas fiscales, se evaluará críticamente el impacto de incentivos como las campañas de des-guace y otras intervenciones estatales en la industria automotriz. El objetivo es detectar causalidades, distinguiendo entre los síntomas aparentes y las causas reales, para definir si, en última instancia, el auge económico artificial, cau-sado por políticas monetarias expansivas y el intervencionismo estatal, con-dujo a la reciente crisis económica. Sin embargo, aparte de evaluar empíricamente el impacto de las políticas monetarias y fiscales en el sector automotriz dentro del período mencionado, este artículo también pretende resaltar la relevancia crucial general de la ‘eficiencia dinámica’ y la ‘creativi-dad empresarial’ y, en consecuencia, la necesidad de detectar nichos de mer-cado para optimizar la sostenibilidad y la competitividad de una empresa. Palabras clave: políticas fiscales, políticas monetarias, industria automotriz, expansión de crédito, banca de reserva fraccionaria, incentivos públicos, res-cates, Estados Unidos, Europa, teoría austriaca del ciclo económico. Clasificación JEL: E12, E14, E32, E43, E51, E52, E62, E63, G33, H21, N12, N14

SUMBER-SUMBER RESILIENSI PADA REMAJA AKHIR YANG MENGALAMI KEKERASAN DARI ORANGTUA PADA MASA KANAK-KANAK

Psibernetika ◽  
2018 ◽  
Vol 11 (1) ◽  
Author(s):  
Devina Calista ◽  
Garvin Garvin
Keyword(s):  
Late Adolescents ◽  
Long Term Effects ◽  
Short Term ◽  
Parental Affection ◽  
Resilience Factors ◽  
Childhood Violence ◽  
Past Experiences ◽  
The Impact ◽  
Depth Interviews

<p><em>Child abuse by parents is common in households. The impact of violence on children will bring short-term effects and long-term effects that can be attributed to their various emotional, behavioral and social problems in the future; especially in late adolescence that will enter adulthood. Resilience factors increase the likelihood that adolescents who are victims of childhood violence recover from their past experiences</em><em>,</em><em> become more powerful individuals and have a better life. The purpose of this study was to determine the source of resilience in late adolescents who experienced violence from parents in their childhood. This research uses qualitative research methods with in-depth interviews as a method of data collection. The result shows that the three research participants have the aspects of "I Have", "I Am", and "I Can"; a participant has "I Can" aspects as a source of resilience, and one other subject has no source of resilience. The study concluded that parental affection and acceptance of the past experience have role to the three sources of resilience (I Have, I Am, and I Can)</em></p><p><em> </em></p><p><strong><em>Keyword : </em></strong><em>Resilience, adolescence, violence, parents</em></p>

Impact of the OMRR Operation in Fighting the Adverse Effects of COVID-19 on the Chinese Stock Market: An Event Study

2021 ◽  
Vol 16 (3) ◽  
pp. 495-520
Author(s):  
Lin Guo ◽  
◽  
Xufei Zhang ◽  
Songlei Chao ◽  
◽  
...  
Keyword(s):  
Stock Market ◽  
Event Study ◽  
Abnormal Return ◽  
Fiscal Policies ◽  
Chinese Stock Market ◽  
Open Market ◽  
Monetary Policies ◽  
Technology Industry ◽  
The Impact ◽  
China’S Economy

The outbreak of the COVID-19 epidemic has had an adverse effect on China's economy. This paper uses the event study method to test and measure the impact of the open market reverse repo (OMRR) operation on the Chinese stock market. The results show that the OMRR operation generates a positive daily abnormal return and a positive daily cumulative abnormal return on average for all stocks. The impact is larger for non-state-owned enterprise (non-SOE) firms than for SOE firms, stocks of non-Hubei provinces than those of the Hubei province, and for stocks of the information transmission and technology industry than those of other industries. We suggest that our government implement more prudent monetary policies and more proactive fiscal policies.

Biomolecular Modeling and Simulation: A Prospering Multidisciplinary Field

2021 ◽  
Vol 50 (1) ◽  
Author(s):  
Tamar Schlick ◽  
Stephanie Portillo-Ledesma ◽  
Christopher G. Myers ◽  
Lauren Beljak ◽  
Justin Chen ◽  
...  
Keyword(s):  
Modeling And Simulation ◽  
Annual Review ◽  
Publication Date ◽  
Long Term Effects ◽  
Short Term ◽  
Biomolecular Modeling ◽  
Productive Phase ◽  
The Impact ◽  
New Algorithms

We reassess progress in the field of biomolecular modeling and simulation, following up on our perspective published in 2011. By reviewing metrics for the field's productivity and providing examples of success, we underscore the productive phase of the field, whose short-term expectations were overestimated and long-term effects underestimated. Such successes include prediction of structures and mechanisms; generation of new insights into biomolecular activity; and thriving collaborations between modeling and experimentation, including experiments driven by modeling. We also discuss the impact of field exercises and web games on the field's progress. Overall, we note tremendous success by the biomolecular modeling community in utilization of computer power; improvement in force fields; and development and application of new algorithms, notably machine learning and artificial intelligence. The combined advances are enhancing the accuracy and scope of modeling and simulation, establishing an exemplary discipline where experiment and theory or simulations are full partners. Expected final online publication date for the Annual Review of Biophysics, Volume 50 is May 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Terrorism and tourism in Israel

2016 ◽  
Vol 23 (6) ◽  
pp. 1343-1352 ◽  
Author(s):  
Marion Karl ◽  
Gordon Winder ◽  
Alexander Bauer
Keyword(s):  
Time Lag ◽  
Research Model ◽  
Long Term Effects ◽  
Short Term ◽  
Event Tourism ◽  
Using Data ◽  
Terrorist Event ◽  
The Impact ◽  
The Relationship

While the relation between terrorism and tourism has been an important topic for tourism research, the questions whether terrorism affects tourism immediately and how long after a terrorism event tourism recovers are, as yet, not clearly answered. The aim of this article is to better understand the magnitude and temporal scale of the impact of terrorism on tourism. To this end, a research model differentiating between short-term and long-term effects of terrorism on tourism is developed and analyzed for the destination Israel using data on tourists from Germany. The results show both short-term and long-term impacts with a time lag between the terrorist event and the beginning of tourism decline of 1 or up to 6 months. An economic influence on the development of tourist arrivals was not detected, but seasonality plays an important role in the relationship between terrorism and tourism.

scholarly journals Business Cycles Indicators and Short-term Forecasts of Polish Industry Production Index

2013 ◽  
Vol 4 (3) ◽  
pp. 65-79
Author(s):  
Paweł M. Kolba ◽  
Radosław Kotkowski
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Short Term ◽  
Production Index ◽  
Polish Economy ◽  
The Impact

The aim of this paper is to evaluate the impact of using popular business cycle indicators on the forecasts of industry production index. Research is conducted on Polish economy, by using methodology proposed by M. Klein.

scholarly journals Relationship between slack resources and performance: temporal symmetry and duration of effects

2020 ◽  
Vol 29 (3) ◽  
pp. 255-275 ◽  
Author(s):  
Maria Agusti-Perez ◽  
Jose Luis Galan ◽  
Francisco J. Acedo
Keyword(s):  
Long Term Effects ◽  
Short Term ◽  
Slack Resources ◽  
Content Type ◽  
Industrial Companies ◽  
Permanent Effect ◽  
And Performance ◽  
The Impact ◽  
Temporal Symmetry ◽  
Financial Profitability

PurposeAlthough slack resources and their relationship to performance have been widely studied in the literature, the temporal symmetry of this relationship, and the duration of its effects, are still unknown aspects and are the objective of this paper.Design/methodology/approachTo evaluate this effect, an exploratory study has been designed on a sample of 449 Spanish industrial companies over a period of 12 years, assessing the impact of idle resources on economic and financial profitability. By means of hierarchical regressions, the short- term, medium- term and long-term effects of slack resources have been evaluated.FindingsThe results show that the impact on performance depends on the type of resource considered. Available slack has a consistent and positive effect on economic profitability in the short term. Other types of slack show persistent effects on performance, but, in the case of the recoverable slack, with a negative sign that contradicts the benefits provided by these resources. Finally, potential slack only has a permanent effect on financial profitability, but the sign changes depending on the economic context under consideration. There are also differences in the duration of the effects according to the type of resources.Originality/valueThis paper advances the knowledge about the slack-performance relationship over time that has been scarcely studied.

A review of the effects of different marking and tagging techniques on marine mammals

2012 ◽  
Vol 39 (1) ◽  
pp. 15 ◽  
Author(s):  
Kristen A. Walker ◽  
Andrew W. Trites ◽  
Martin Haulena ◽  
Daniel M. Weary
Keyword(s):  
Marine Mammals ◽  
Future Research ◽  
Acute Effects ◽  
Long Term Effects ◽  
Short Term ◽  
Different Types ◽  
Radio Transmitters ◽  
The Impact ◽  
Published Research

Wildlife research often requires marking and tagging animals to collect data on survival, reproduction, movement, behaviour and physiology. Identification of individual marine mammals can be carried out using tags, brands, paint, dye, photogrammetry, telemetry and other techniques. An analysis of peer-reviewed articles published from January 1980 to April 2011 addressing the effects of marking revealed a preponderance of studies focussed on short-term effects such as injuries and behavioural changes. Some marking techniques were reported to cause pain and to change swimming and haul-out behaviour, maternal attendance, and duration of foraging trips. However, marking has typically not been found to affect survival. No published research has addressed other possible long-term effects of marking related to injuries or pain responses. Studies of the more immediate effects of marking (mostly related to externally attached devices such as radio-transmitters) have shown a variety of different types and magnitudes of responses. It is important to note that studies failing to find treament differences are less likely to be published, meaning that the present and any other reviews based on published literature may be a biased sample of all research conducted on the topic. Publishing results that found no or low impacts (i.e. best practices) as well as those that found significant impacts on animals should both be encouraged. Future research under more controlled conditions is required to document acute effects of marking, including injury and pain, and to better understand longer-term effects on health, reproduction and survival. We recommend that studies using marked animals standardise their reports, with added detail on methodology, monitoring and sampling design, and address practices used to minimise the impact of marking on marine mammals.

scholarly journals Short-term effects of GPS collars on the activity, behavior, and adrenal response of scimitar-horned oryx (Oryx dammah)

2019 ◽  
Author(s):  
Jared A. Stabach ◽  
Stephanie A. Cunningham ◽  
Grant Connette ◽  
Joel L. Mota ◽  
Dolores Reed ◽  
...  
Keyword(s):  
Animal Movement ◽  
Stress Hormones ◽  
Long Term Effects ◽  
Short Term ◽  
High Resolution Data ◽  
Gps Collars ◽  
Behavioral Observations ◽  
Activity Behavior ◽  
The Impact ◽  
Short Term Effects

AbstractGPS collars have revolutionized the field of animal ecology, providing detailed information on animal movement and the habitats necessary for species survival. GPS collars also have the potential to cause adverse effects ranging from mild irritation to severe tissue damage, reduced fitness, and death. The impact of GPS collars on the behavior, stress, or activity, however, have rarely been tested on study species prior to release. The objective of our study was to provide a comprehensive assessment of the short-term effects of GPS collars fitted on scimitar-horned oryx (Oryx dammah), an extinct-in-the-wild antelope once widely distributed across Sahelian grasslands in North Africa. We conducted behavioral observations, assessed fecal glucocorticoid metabolites (FGM), and evaluated high-resolution data from tri-axial accelerometers. Using a series of non-standard regression models, we illustrate clear but short-term effects to animals fitted with GPS collars. Behavioral observations highlighted a significant increase in the amount of headshaking from pre-treatment levels, returning below baseline levels during the post-treatment period (>3 days post-collaring). Similarly, FGM concentrations (i.e., stress hormones) increased after GPS collars were fitted on animals but returned to pre-collaring levels within 5 days of collaring. Lastly, tri-axial accelerometers, collecting data at eight positions per second, indicated a > 480 percent increase in the amount of hourly headshaking immediately after collaring. This post-collaring increase in headshaking was estimated to decline in magnitude within 4 hours after GPS collar fitting. These effects constitute a handling and/or habituation response (model dependent), with animals showing short-term responses in activity, behavior, and stress that dissipated within several hours to several days of being fitted with GPS collars. Importantly, none of our analyses indicated any long-term effects that would have more pressing animal welfare concerns.

scholarly journals Expansionary or restrictive policies in the Eurozone? Dominating trends in the first two decades

2021 ◽  
Vol 71 (3) ◽  
pp. 405-430
Author(s):  
Joanna Stawska ◽  
Paulo Jorge Reis Mourao
Keyword(s):  
Economic Policy ◽  
Interest Rates ◽  
Euro Area ◽  
Structural Breaks ◽  
Fiscal Policies ◽  
Short Term ◽  
Monetary Policies ◽  
Switching Regimes ◽  
Monetary And Fiscal Policy

Abstract Our aim is to identify periods of restrictive versus expansionary economic policy in the euro area in the last two decades. We firstly conducted the study for identifying the dominant trend in fiscal policies and then in monetary policies. We studied several fiscal outputs, focusing on the cyclical adjusted primary balance. We also analysed the European long-term and short-term interest rates. The study was conducted for several windows, namely for 3-, 4- and 5-year periods. Additional procedures were conducted for robustness checks, namely the study of structural breaks in the analysed time series as well as a study of them recurring to Markov-Switching Regimes models. For most of the analysed periods and subperiods of the series, we concluded for the presence of expansionary policies either in the fiscal or in monetary European domains. Finally, the results and the analysis of dependencies in the euro area economy favour the evidence that economic authorities in the euro area have sought to coordinate monetary and fiscal policy to stabilise the economy.

Hemodialysis in Chronic Kidney Disease - Balancing Fluid and Salt on the Inflammation Tightrope

2012 ◽  
Vol 35 (6) ◽  
pp. 409-412 ◽  
Author(s):  
Patrick M. Honoré ◽  
Rita Jacobs ◽  
Olivier Joannes-Boyau ◽  
Willem Boer ◽  
Eisabeth De Waele ◽  
...  
Keyword(s):  
Chronic Kidney Disease ◽  
Side Effects ◽  
Kidney Disease ◽  
Therapeutic Interventions ◽  
Electrolyte Balance ◽  
Angiotensin Ii Receptor ◽  
Long Term Effects ◽  
Short Term ◽  
The Impact

Haemodialysis (HD) is a well-established, longstanding, and life-saving treatment for patients with chronic kidney disease (CKD) or acute kidney injury (AKI). However, side-effects of HD in CKD patients are numerous and remain problematic. Amongst others, CKD patients are susceptible to short-term effects caused by abnormalities in water and electrolyte balance and long-term effects related to sustained inflammation short-term side-effects of HD such as errors in sodium content of dialysate could readily be overcome by correct baseline labelling of dialysates and the ongoing rigorous implementation of safety procedures by staff nurses and physicians. The proper implementation of biofeedback systems, with tight safety alarm limits and conductivity based detection systems including the analysis of ionic mass balance could have prevented the shortfalls described. Long-term untoward effects of HD are mainly due to sustained inflammation and are correlated with higher morbidity and mortality. Unfortunately, the pathophysiologic mechanisms that underpin the inflammatory processes induced by HD remain poorly understood or incompletely unravelled. Within the wide array of inflammatory (interactions, cytokines are undoubtedly key players but interesting biomarkers (e.g. follistatin) and pathways (e.g. erythropoietin hyporesponsiveness) have come into play. Therapeutic interventions in differing fields such as vascular access, avoidance of intra-dialytic hypotension and pharmacologic interventions with statins, angiotensin II receptor antagonists or vitamine D supplementation may be of significance. However, confirmatory trials investigating of all these promising therapies are, as yet, lacking. The impact of the dialysis technique itself should not be underestimated.

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