Populismos y democracias defectuosas en El Ecuador (1996-2012): continuidades y diferencia

From 1995 to 2015, Ecuador experienced one of its longest periods of deep political, social and economic crisis. During this interval, three democratically elected governments (Bucaram, 1997; Mahuad, 2000 and Gutiérrez, 2005) were overthrown and a critical juncture arose in 2006 as a result. Since 2007, and as a consequence of these chaotic circumstances, new populist strongmen ascended and, amid the biggest bonanza of oil revenues in Ecuadorian history, established a defective democracy. The gradual escalation of authoritarian tendencies during the three consecutive terms in which Rafael Correa has acted as President, have resulted in the severe weakening of the country’s democratic institutions, since Correa’s has strived to perpetuate himself in power through continual re-election into office, instead of building an institutional quality-democracy. This study aims to clarify the historical foundations of the recurrence of caudillistas, populist and authoritarian governments in Ecuador, revealing the basis of the specific path dependence of Ecuadorian politics. We also explore the Jungian theory, specifically the “pseudo-hero myth”, as the political narrative which Correa’s regime successfully employed to establish its hegemony. Additionally, we perform a psychological-political case analysis by examining the social psychology components underlying the Ecuadorian path dependence towards authoritarian and populist caudillos: Specifically, our case study is framed within historical institutionalism, which focuses on methodological individualism to attend various political science and psychological-political theories...

Pipe3D, a pipeline to analyze integral field spectroscopy DATA: II. Analysis sequence and CALIFA dataproducts

We present PIPE3D, an analysis pipeline based on the FIT3D fitting tool, developed to explore the properties of the stellar populations and ionized gas of integral field spectroscopy (IFS) data. PIPE3D was created to provide coherent, simple to distribute, and comparable dataproducts, independently of the origin of the data, focused on the data of the most recent IFU surveys (e.g., CALIFA, MaNGA, and SAMI), and the last generation IFS instruments (e.g., MUSE). In this article we describe the different steps involved in the analysis of the data, illustrating them by showing the dataproducts derived for NGC 2916, observed by CALIFA and P-MaNGA. As a practical example of the pipeline we present the complete set of dataproducts derived for the 200 datacubes that comprises the V500 setup of the CALIFA Data Release 2 (DR2), making them freely available through the network. Finally, we explore the hypothesis that the properties of the stellar populations and ionized gas of galaxies at the effective radius are representative of the overall average ones, finding that this is indeed the case.

Volatility Spillover and Multivariate Volatility Impulse Response Analysis of GFC News Events

This paper applies two measures to assess spillovers across markets: the Diebold Yilmaz (2012) Spillover Index and the Hafner and Herwartz (2006) analysis of multivariate GARCH models using volatility impulse response analysis. We use two sets of data, daily realized volatility estimates taken from the Oxford Man RV library, running from the beginning of 2000 to October 2016, for the S&P500 and the FTSE, plus ten years of daily returns series for the New York Stock Exchange Index and the FTSE 100 index, from 3 January 2005 to 31 January 2015. Both data sets capture both the Global Financial Crisis (GFC) and the subsequent European Sovereign Debt Crisis (ESDC). The spillover index captures the transmission of volatility to and from markets, plus net spillovers. The key difference between the measures is that the spillover index captures an average of spillovers over a period, whilst volatility impulse responses (VIRF) have to be calibrated to conditional volatility estimated at a particular point in time. The VIRF provide information about the impact of independent shocks on volatility. In the latter analysis, we explore the impact of three different shocks, the onset of the GFC, which we date as 9 August 2007 (GFC1). It took a year for the financial crisis to come to a head, but it did so on 15 September 2008, (GFC2). The third shock is 9 May 2010. Our modelling includes leverage and asymmetric effects undertaken in the context of a multivariate GARCH model, which are then analysed using both BEKK and diagonal BEKK (DBEKK) models. A key result is that the impact of negative shocks is larger, in terms of the effects on variances and covariances, but shorter in duration, in this case a difference between three and six months.