A Network model of systemic risk : identifying the sources of dependence across institutions

We design a financial network model that explicitly incorporates linkages across institutions through a direct contagion channel, as well as an indirect common exposure channel. In particular, common exposure is setup so as to link the financial to the real sector. The model is calibrated to balance sheet data on the colombian financial sector. Results indicate that commercial banks are the most systemically important financial institutions in the system. Whereas government owned institutions are the most vulnerable institutions in the system.

Energy saving innovations, non-exhaustible sources of energy and long-run: what would happen if we run out of oil?

We formulate and solve a model of factor saving technological improvement considering three factors of production: labor, capital and energy. The productive activities have three main characteristics: first, in order to use capital goods firms need energy; second, there are two sources of energy: non-exhaustible and exhaustible; third, capital goods can be of different qualities and the quality of these goods can be changed along two dimensions -reducing the need of energy or changing the source of energy used in the production process. The economy goes through three stages of development after industrialization. In the first, firms make use of exhaustible energy and the e¢ ciency in the use of energy is constant. In the second stage, as the price of energy grows the e¢ ciency in its use is increased. In the third stage, the price of exhaustible sources is so high that firms have incentives to use non-exhaustible sources of energy. During this stage the price of energy is constant. In this set up, the end of the oil age has level effects on consumption and output but it does not cause the collapse of the economic system.

Energy Saving Innovations, Non-Exhaustible Sources of Energy and Long-Run: What Would Happen if we Run Out of Oil?

Se formula y resuelve un modelo de cambio tecnológico ahorrador de factores de producción que considera tres factores: capital, trabajo y energía. El modelo cuenta con características específicas con respecto a la interacción n entre la energía (la cual, de acuerdo a su fuente puede ser renovable y no renovable) y el capital. Una vez esta economía se ha definido, se supone que evoluciona en tres etapas luego de su industrialización, durante las cuales el carácter renovable o no renovable de la energía influye su precio relativo, eficiencia y afecta también el nivel agregado de consumo y producción de la economía, sin que esta evolución lleve al colapso del sistema económico.

Sources of perceived sociocultural pressure on physical self-concept

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Sources of airline and aircraft finance

Presentation Outline - Internal vs external sources of finance - Long versus short-term finance - Bonds, deentures and convertibles - The term loan - Manufacturers’ support - Export credits - Summary

Delineating difference and spaces of resistance : reading the Nana’s Silence in Rosario Castellanos’ ''Balún Canán''

A escritora mexicana Rosario Castellanos incorpora silêncios em suas obras de uma forma que permite ao leitor a questionar o próprio significado da agência e da natureza da subjetividade de uma protagonista feminina. Silêncios tendem a criar brechas no texto, iluminando as diferenças sociais e raciais que a narração em primeira pessoa foge. Além disso, é revelado que o sujeito se imagina em oposição ao silêncio de mulheres menos privilegiadas, e que realmente não existe um local em que o subalterno pode falar. Este projecto se centra em seu romance Balún Canan (1957), em que a babá Indígena de uma menina complica o desejo de ascender dentro da estrutura patriarcal da sua família mais privilegiada, como a menina descobre que o que faria sua vida confortável é a causa da subjugação de sua “outra mãe.” O texto é desenvolvido em torno de um desejo de falar a partir das margens, e há um esforço claro para dar voz aos subalternos. No entanto, a relação entre a menina e sua babá não é nem romântica nem idealizada; a presença da mulher colonizada resiste a marginalização e ressalta que está sendo coberto no processo de desenvolvimento individual. Ansiedadesurge dentro da narração da menina como ela percebe seu privilégio como membro da classe latifundiária, e a escrita navega entre diferentes manifestações de silêncio: o silenciamento da babá em uma replicação de violência colonial, e a manutenção do silêncio como uma barreira respeitosa.

Sources of sulphur in gypsiferous sediments and crusts and pathways of gypsum redistribution in southern Tunisia

Southern Tunisia contains one of the most extensive gypsum accumulations in Africa comprising Triassic, Cretaceous, Eocene and Mio-Pliocene marine evaporites, spring deposits, playa sediments, aeolian sands and gypsum crusts. Sulphur isotope analysis (delta(34)S) of bedrock samples, groundwater, playa brines, playa sediments, and gypsiferous crusts provides insight into the sources of gypsum in the region and sheds light on the processes that lead to gypsum crust formation. Results Suggest that recycling of marine gypsum is the most likely source of the sulphate in the groundwater, playa sediments and crusts. The low PS values found in Eocene and Mio-Pliocene samples suggest that this recycling has been going on for millions of years. Though bedrock appears to be the ultimate source of the gypsum in the crusts, transport of this sulphate to playas, concentration therein, and subsequent dispersal across the landscape by aeolian processes provides the most likely pathway for surticial gypsum crust formation. Comparison of these results with those from Australia, Chile and Namibia suggests that, although the source of the sulphur varies from region to region, the processes of surficial crust formation appear to be similar. Copyright (C) 2004 John Wiley Sons, Ltd.

Strategy clusters and sources of knowledge in French L2 listening comprehension

This article reports on an exploratory investigation into the listening strategies of lower-intermediate learners of French as an L2, including the sources of knowledge they employed in order to comprehend spoken French. Data from 14 learners were analysed to investigate whether employment of strategies in general and sources of knowledge in particular varied according to the underlying linguistic knowledge of the student. While low linguistic knowledge learners were less likely to deploy effectively certain strategies or strategy clusters, high linguistic knowledge levels were not always associated with effective strategy use. Similarly, while there was an association between linguistic knowledge and learners’ ability to draw on more than one source of knowledge in a facilitative manner, there was also evidence that learners tended to over-rely on linguistic knowledge where other sources, such as world knowledge, would have proved facilitative. We conclude by arguing for a fresh approach to listening pedagogy and research, including strategy instruction, bottom-up skill development and a consideration of the role of linguistic knowledge in strategy use.

Statistical methods for examining genetic influences of resistance to anti-epileptic drugs

It is generally accepted that genetics may be an important factor in explaining the variation between patients’ responses to certain drugs. However, identification and confirmation of the responsible genetic variants is proving to be a challenge in many cases. A number of difficulties that maybe encountered in pursuit of these variants, such as non-replication of a true effect, population structure and selection bias, can be mitigated or at least reduced by appropriate statistical methodology. Another major statistical challenge facing pharmacogenetics studies is trying to detect possibly small polygenic effects using large volumes of genetic data, while controlling the number of false positive signals. Here we review statistical design and analysis options available for investigations of genetic resistance to anti-epileptic drugs.