Financial Structure, Cycle, and Instability

The subprime loan mortgage crisis has revived scholarly interest in Minsky’s financial instability hypothesis. The related mathematical models present two types of Minskian financial structures. We construct macrodynamic models that consider both structures and discuss financial instability and cycles. We also demonstrate that one of the financial cycles occurs when a real factor stabilizes the economy. The burden of interest-bearing debt is an important determinant of the cycle. We posit that the escalating financial fragility in this cycle is a more appropriate interpretation of the Minskian financial structure that refers to hedging, speculative and Ponzi behaviors. We further demonstrate that another financial structure destabilizes the economy. If the instability occurs at the point of fragility, then the economy may deteriorate into financial crisis. Fragility then becomes instability.JEL classifications: E12, E32, E33, E43

Determinants of Call Centre Employee’s Turnover in Pakistan - An Exploratory Study

The purpose of this study was to find the determinants of call centre employee’s turn over in Pakistan. This study would answer Why employees quit call centres job in Pakistan and does not last for long. Little is known about the employs experience and real issue, that why did they quit. Eight employees were interviewed who have worked in the call centres. The interviews were qualitative and were analysed by drawing on the phenomenological method. The employees revealed that there are limited career opportunities in the call centres. Most participants stated that time schedule, stressed working environment and excessive work load were that major factor which urged them to quit the job too early. Participants stated the time schedule as a major factor which negatively impacted on their social and personal lives. In conclusion, this research provides the basis for human resource management to work on the real factor which spark the employee turnover in call centres of Pakistan.

Autumn COVID-19 surge dates in Europe correlated to latitudes, not to temperature-humidity, pointing to vitamin D as contributing factor

To determine the factor triggering the sudden surge of daily new COVID-19 cases arising in most European countries during the autumn of 2020. The dates of the surge were determined using a fitting of the two last months of reported daily new cases in 18 European countries with latitude ranging from 39° to 62°. The study proves no correlation between the country surge date and the 2 weeks preceding temperature or humidity but shows an impressive linear correlation with latitude. The country surge date corresponds to the time when its sun UV daily dose drops below ≈ 34% of that of 0° latitude. Introducing reported seasonal blood 25-hydroxyvitamin D (25(OH)D) concentration variation into the reported link between acute respiratory tract infection risk and 25(OH)D concentration quantitatively explains the surge dynamics. Several studies have already substantiated a 25(OH)D concentration impact on COVID-19 severity. However, by comparing different patient populations, discriminating whether a low 25(OH)D concentration is a real factor underlying COVID-19 severity or only a marker of another weakness that is the primary severity factor can be challenging. The date of the surge is an intrapopulation observation and has the benefit of being triggered only by a parameter globally affecting the population, i.e. decreases in the sun UV daily dose. The results indicate that a low 25(OH)D concentration is a contributing factor to COVID-19 severity, which, combined with previous studies, provides a convincing set of evidence.

The Role and Place of Intra-Cooperative Relations not Regulated by Legislation at the Present Stage of the Formation of Agricultural Consumer Cooperatives

The article is devoted to the substantiation of the development of intra-cooperative relations not regulated by legislation as one of the means of increasing the viability of agricultural consumer cooperatives in the context of modern Russian realities. Considered relationships are manifested in the practice of cooperatives in the form of following certain rules, attitudes, behavioral patterns, agreements, etc. It has been established that the underdevelopment of these relations, coupled with gaps in the cooperative legislation, is one of the reasons for the unsatisfactory rates of development of this type of cooperation in the country. Relations in the areas of management and receiving cooperative services are highlighted as the most important. Based on the study of the practice of cooperative organizations in the developed countries of the European Union and the experience of successful domestic cooperatives, the need to develop internal regulations in each cooperative containing a detailed specification of the mechanisms for implementing internal relations is substantiated. Examples of the formation of effective elements of intra-cooperative relations are given. It is concluded that the development of intra-cooperative relations corresponding to the values and principles of cooperation contributes to the filling of existing institutional voids and is a real factor in the successful development of agricultural consumer cooperation.

Identification of Ixodidae ticks from cattle imported into the South Kivu province, east of the Democratic Republic of Congo

A survey has been conducted in Bukavu on bovines imported in Democratic Republic of Congo from Rwanda to the public slaughterhouse of Bukavu, with the aim of identifying the Ixodidae ticks on their body. Thus, 1024 ticks have been collected on 300 cows for the entomological identification. Four species have been identified whose Boophilus decoloratus (44.4 %), Rhipicephalus appendiculatus (43.9 %), Amblyomma variegatum (11 %) and Ixodes thomasai (2 %). This last species being a new among those recognized in South Kivu. A charge to ticks of 6.5 has been observed at those bovines and the infestation rate has been significantly different in the 4 races, the Friesland (41.1 %) and Ankolé presented the superior values. The importation of cows in this part of the country from Rwanda is a real factor which conducts to the introduction of ticks and also diseases in Democratic Republic of Congo. Then being measures of heath control in the border must be sustained and reinforced for minimizing real risks.

The autumn COVID-19 surge dates in Europe are linked to latitudes and not to temperature, nor to humidity, pointing vitamin D as a contributing factor

PurposeDetermining the triggering factor of the sudden surge of the daily new COVID-19 cases arising in most European countries during 2020 Autumn.MethodsThe dates of the surge were determined using a fitting of the two last months reported daily new cases in 18 European countries of latitude ranging from 39° to 62°.ResultsThe study proves no correlation between the country surge date and its 2 weeks preceding temperature or humidity, but shows an impressive linear correlation with its latitude. The country surge date corresponds to the time when its sun UV daily dose drops below ≈ 34% of that of 0° latitude. Introducing reported seasonal blood 25-hydroxyvitamin D (25(OH)D) concentration variation into reported link between acute respiratory track infection risk with 25(OH)D concentration quantitatively explains the surge dynamics.ConclusionsSeveral studies already substantiated a 25(OH)D concentration impact on COVID-19 severity. However by comparing different patients populations, discriminate whether low 25(OH)D concentration is a real factor of covid-19 severity or only a marker of another weakness being the primary severity factor can be challenging. The date of the surge is an intrapopulation observation and has the benefit to be only triggered by a parameter globally affecting the population, i.e. the sun UV daily dose decreases. The results support that low 25(OH)D concentration is thus well a contributing factor of COVID-19 severity, which joined with the previous studies makes a convincing bundle of evidence

Do Tense Geopolitical Factors Drive Crude Oil Prices?

Geopolitical factors are considered a crucial factor that makes a difference in crude oil prices. Over the last three decades, many political events occurred frequently, causing short-term fluctuations in crude oil prices. This paper aims to examine the dynamic correlation and causal link between geopolitical factors and crude oil prices based on data from June 1987 to February 2020. By using a time-varying copula approach, it is shown that the correlation between geopolitical factors and crude oil prices is strong during periods of political tensions. The GPA (geopolitical acts) index, as the real factor, drives the rise in prices of crude oil. Moreover, the dynamic correlation between geopolitical factors and crude oil prices shows strong volatility over time during periods of political tensions. We also found unidirectional causality running from geopolitical factors to crude oil prices by using the Granger causality test.

Polyurea-based Hybrid Composites for CBRN Protection

Either considering chemical munitions or chemical improvised explosive devices, the armies should be able to counter their effects from two different perspectives: the agent used and the way to disperse it. While the agent to be delivered can be more or less lethal, the real factor that gives efficiency to the attack is the manner the agent is delivered. The state-of-the-art tested garment indicate that current knowledge regarding protective equipment for chemical warfare agents remains very limited. In this context, the present study aimed at the possibility of using the MWCNT-OH-based polyurea-composite material, obtained by our group in a previous study, in the field of protection against hazardous chemicals.

Velocity of Money, Endogenous Money and Rate of Interest

As an alternative to conceptualisation of endogenous money in Taylor’s rule of interest management, the present article considers Keynes’s general theoretic endogenous money supply, which is in response to demand for money generated in income determination process (and the induced growth processes). That money is important, as a real factor production, to actualise expected production (and growth processes). The contribution of the present article is to incorporate the crucial role of liquidity preference insight-based rate of interest to control endogenous money. The setting of such policy rate, in tune with the implicit pressures on liquidity preference, then, on principle, permits constancy of velocity, which permits in turn better monetary aggregate management achieved, now, by this Keynes’s route. JEL: E4; E5; E12