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546,196 artículos
Año:
2019
ISSN:
1697-5731, 1133-3197
Zhao, Yanyun
Editorial Universidad de Almería y ASEPELT
Resumen
Since the reform and opening policy in 1978, China's economy has developed rapidly and made remarkable achievements. On the new historical starting point, this paper systematically reviews and summarizes the whole process of China's economic rise, by combining theoretical and empirical analysis, and provides the outlook of China's new economy. This article aims to grasp China's future position both at home and abroad, and strengthen the mutual promotion between China and the world.
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Año:
2019
ISSN:
1697-5731, 1133-3197
Paelinck, Jean H.P.; Mur, Jesús
Editorial Universidad de Almería y ASEPELT
Resumen
A specific feature of spatial econometric models is the simultaneity of the relations, which complicates the distinction between causes and effects. However, the notion of cause is of paramount importance in any specification. In fact, a model is a statement pointing that a variable, called endogenous, reacts to the variables that appear in the right hand side, the regressors. Our impression is that this problem has been scarcely treated in the Spatial Econometrics literature.The content of the paper focuses on questions related to the specification procedure for spatial models. We examine what may be called the ‘current traditional practice’ and discuss the role that the concepts of identification and causality should play. Our purpose is to claim for the development of clear econometric guidelines to help the users to improve the theoretical foundations of their specifications. An application to the relation between per capita income and weight of the agricultural sector in the Spanish provinces illustrates our discussion.
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Año:
2019
ISSN:
1697-5731, 1133-3197
Racicot, François Éric; Rentz, William F.
Editorial Universidad de Almería y ASEPELT
Resumen
Illiquidity is well known in the literature to be an important risk factor to consider in financial models of return. However, there is not much consensus on which measure should be used as a proxy for illiquidity. Our contributions mainly focus on the Pástor-Stambaugh measure in the context of the Fama-French three factor and more recently on the new five-factor model. In this survey article, we discuss our contributions on the subject in an errors-in-variables perspective. In particular, we propose new robust instruments that are developed and applied in different stages of our research. Robustness tests of these new instruments are performed in this research. Overall, our new instruments coupled with the GMM estimator show that either in a cross sectional, panel data, or recursive/rolling regression compared to the Kalman filter framework, that the most significant factor seems to be the market factor. This might be seen as in line with Cochrane’s concern about a “zoo of factors”.
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Año:
2019
ISSN:
1697-5731, 1133-3197
Belke, Ansgar
Editorial Universidad de Almería y ASEPELT
Resumen
If one is concerned with the effects of zero interest rate policy, it is obvious to ask about the success of unconventional monetary policy in the form of "Quantitative Easing" (QE). The success is usually measured by advocates of these measures by the induced extent of the interest rate reduction in the long run (the short-term interest rate is already zero at the time of the introduction of QE) or an increase in inflation expectations. Damaging side effects are partly accepted implicitly, but not always explicitly offset. While numerous empirical studies have long been concerned with the national effects of QE, the empirical evidence regarding the international effects of these monetary policy measures is growing steadily. This paper critically assesses different angles of this research and concludes that searching for structural breaks in cointegration relationships among international long-term interest rates and some macroeconomic fundamentals is the way to go.
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Año:
2019
ISSN:
1697-5731, 1133-3197
Mondéjar Jiménez, José; Vargas Vargas, Manuel
Editorial Universidad de Almería y ASEPELT
Resumen
The ecological economy focused on the use, management, and sustainable conservation of natural resources, renewable or not, implies the inclusion of ecological restrictions within the general economic framework. However, the treatment of environmental problems presents a marked social character, and whose solution implies modifications of personal behavior. Notwithstanding, the study of individual environmental behavior, its determinants, and its empirical testing remain an open field of study with relevant consequences for the planning of environmental policies. Therefore, this work presents a brief bibliographical review of the evolution of environmental behavior models, which can serve as a contextualization of the challenges that still exist in this field of ecological economics.
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Año:
2019
ISSN:
1697-5731, 1133-3197
Rakotoarivelo, Jean Baptiste; Zaraté, Pascale; Kilgour, D. Marc
Editorial Universidad de Almería y ASEPELT
Resumen
Professional management of financial activities requires a good understanding of the inherent future risks of those activities. Despite the use of complex models for this purpose, significant risks often remain under-appreciated. This article develops techniques that will assist banking institutions at understanding the risks involved in micro-finance and related operations. The analysis is carried out by identifying financial operations that are typical of banking on a smaller scale, such as investing and extending credit, and the types of risk inherent in these activities, which are then grouped into the categories of operational risk, financial risk, management risk, and external risk. Analysis is conducted using the PROMETHEE multi-criteria decision methodology. Based on our new approach to risk analysis, many institutions will improve the management of their financial operations, including micro-finance.
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Año:
2019
ISSN:
1697-5731, 1133-3197
Basile, Roberto; Girardi, Alessandro
Editorial Universidad de Almería y ASEPELT
Resumen
The article reviews the main economic mechanisms which have been theorised when considering the uncertainty/economic activity nexus, as well as the methods by which uncertainty is commonly proxied through observable quantities. Some empirical evidence on the role of uncertainty in shaping macroeconomic fluctuations for the case of the Spanish economy is also presented. We document that uncertainty tends to reduce the level of economic activity in the short run, although traces of overshooting cannot be detected.
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Año:
2019
ISSN:
1697-5731, 1133-3197
Morales-Díaz, José; Gallizo Larraz, José Luis
Editorial Universidad de Almería y ASEPELT
Resumen
Las NIIF (Normas Internacionales de Información Financiera) son un cuerpo de normas contables emitidas por un organismo denominado IASB (International Accounting Standards Board). Se trata de normas con vocación internacional, esto es, creadas con la intención de que se admitan en el mayor número posible de jurisdicciones y, con ello, incrementar la comparabilidad en los estados financieros a escala mundial.
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Año:
2019
ISSN:
2448-6922
Abascal Sherwell Raull, Pablo
Instituto de Investigaciones Históricas
Resumen
Estudiar a los miembros de la Compañía de Jesús ha tenido una importancia fundamental para entender a la Orden en la época moderna, como lo muestran varios estudios históricos recientes. Así, analizar la figura de Nicolás de Arnaya SJ es un ejemplo significativo para conocer cómo funcionaba la Orden en la América española, y cómo sus miembros debían rendir obligaciones tanto al general establecido en Roma, como al rey de España. De esta forma, los jesuitas tuvieron identidades conflictivas, ya que sus actividades dependían en gran medida de los dictámenes y designios del Regio Patronato y la Orden centralizada en Roma, así como los cambios de los gobiernos centrales en Europa. El caso particular de Arnaya nos muestra cómo los jesuitas en América tuvieron que mediar entre dos poderes que tuvieron constantes fricciones a lo largo de los siglos XVI y XVII: el romano y la monarquía española. Estudiar y develar las relaciones de los jesuitas americanos, con los dos poderes centrales en Europa, a través de la figura de Nicolás de Arnaya SJ, es el objetivo del presente artículo.
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Año:
2019
ISSN:
2448-6922
Vera García, Rey Fernando
Instituto de Investigaciones Históricas
Resumen
In 18th century New Spain the tonadilla was one of the music theater genres most favored by audiences. Inventories of the Coliseo theater in Mexico City reveal the existence of a large number of musical pieces of this sort. Although the majority of them came from Spain, some were composed in New Spain as well. A transcription of the lyrics for Los retratos irónicos, a solo tonadilla of Mexican origin, is offered here.
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