International Real Estate Review

2020 ◽  
Vol 23 (2) ◽  
pp. 151-187
Author(s):  
Sumit Agarwal ◽  
◽  
Yongheng Deng ◽  
Jia He ◽  
◽  
...  
Keyword(s):  
Global Economy ◽  
Alternative Theory ◽  
Empirical Observation ◽  
The Us ◽  
The Difference ◽  
The One ◽  
Novel Coronavirus ◽  
Finance Theory ◽  
Mortgage Defaults ◽  
Exponential Discounting

The global economy is in the midst of a recession triggered by the ongoing pandemic of a novel coronavirus disease (COVID-19). The shutdown of the economy and a surge in the unemployment rate also cause stress to the US housing and mortgage system and create significant impacts on the default behaviour of mortgage borrowers. The potential rise in mortgage defaults may renew the long-standing debate over the empirical observation of why some mortgage borrowers do not default as "ruthlessly¨ as the finance theory predicts. In this paper, we propose an alternative theory to explain for the different default behaviours among mortgage borrowers. We hypothesize that the difference among time preferences across mortgage choices is one of the underlying factors that causes the heterogeneity in default patterns. Borrowers can either have a present-biased preference (overvaluing immediate outcomes), or a time-consistent preference (with standard exponential discounting). Borrowers with a present-biased preference are more likely to accept back-loaded mortgages that minimize up-front costs, even though this increases their risk of going ¡§underwater¡¨ and entering default when an adverse shock, such as the one from the ongoing pandemic, occurs.

scholarly journals The effect of opening up the US on COVID-19 spread

2020 ◽  
Author(s):  
Patrick Bryant ◽  
Arne Elofsson
Keyword(s):  
International Travel ◽  
Basic Reproductive Number ◽  
Mobile Phone Data ◽  
Reproductive Number ◽  
School Closures ◽  
Substantial Impact ◽  
The Us ◽  
The Difference ◽  
Novel Coronavirus ◽  
Epidemic Response

AbstractIn response to the pandemic development of the novel coronavirus (SARS-CoV-2), governments worldwide have implemented strategies of suppression by non-pharmaceutical interventions (NPIs). Such NPIs include social distancing, school closures, limiting international travel and complete lockdown. Worldwide the NPIs enforced to limit the spread of COVID-19 are now being lifted. Understanding how the risk increases when NPIs are lifted is important for decision making. Treating NPIs equally across countries and regions limits the possibility for modelling differences in epidemic response, as the response to the NPIs influences can vary between regions and this can affect the epidemic outcome, so do the strength and speed of lifting these. Our solution to this is to measure mobility changes from mobile phone data and their impacts on the basic reproductive number. We model the epidemic in all US states to compare the difference in outcome if NPIs are lifted or retained. We show that keeping NPIs just a few weeks longer has a substantial impact on the epidemic outcome.

scholarly journals The Impact of the COVID-19 Pandemic on the Macroeconomic Aggregates of the European Union

ECONOMICS ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 91-108
Author(s):  
Aleksandar Đukić ◽  
Mirjana Štaka ◽  
Dajana Drašković
Keyword(s):  
Economic Crisis ◽  
Global Economy ◽  
Economic Losses ◽  
The European Union ◽  
The Us ◽  
Economic Migration ◽  
The One ◽  
The Impact ◽  
The Eu ◽  
Macroeconomic Aggregates

Abstract Economic experts’ predictions of a slowdown in the EU’s global economy and economic growth in the year 2020 were based on various risks and uncertainties existing on a world scale, ranging from the US-China trade war, traditionally strained relations of the EU and the US on the one hand and the Russian Federation on the other, all the way to BREXIT and economic migration to developed EU countries. However, the COVID-19 pandemic has further aggravated those forecasts, so that the entire EU is recording a historic decline in all macroeconomic aggregates. The beginning of the pandemic in the EU was accompanied by the complete border lockdown of the entire Union, which greatly affected the economies of the member states. The EU is experiencing a decline of both real and nominal GDP, declining incomes, employment decline and unemployment increase. This paper will investigate the impact of COVID-19 onto GDP, unemployment, and EU public debt. Correlation-regression analysis confirms the positive correlation between these variables and the economic crisis caused by the COVID-19 pandemic. In addition to the economic crisis, a crisis of EU health systems, which requires huge economic investments. A more prominent economic recovery is hard to expect until the global pandemic ends. One thing is for certain, this economic crisis will continue in 2021, whereby a more significant recovery is expected only in the year 2022. Certainly, it will take years to make up for the economic losses caused by the pandemic.

The World Economy

2008 ◽  
Vol 204 ◽  
pp. 9-14 ◽  
Keyword(s):  
Financial Crisis ◽  
Global Economy ◽  
World Economy ◽  
Large Scale ◽  
Banking System ◽  
The Us ◽  
The World ◽  
English Speaking ◽  
English Speaking World ◽  
Mortgage Defaults

A financial crisis, rooted in US mortgage defaults, has been building for several years. Its effects have seriously damaged the prospects for the global economy, and have particularly serious consequences for the English speaking world. Unsound lending permitted by poor regulation and worsened by lax bankruptcy laws has led the US, and potentially the rest of the OECD, to the brink of a large-scale recession. The scale of the potential slowdown depends upon the scale of losses to the banking system and their impacts on the ability of the banking system to lend.

Unusual Features of the SARS-CoV-2 Genome Suggesting Sophisticated Laboratory Modification as a Biological Robot

2022 ◽  
pp. 73-113
Author(s):  
Li-Meng Yan ◽  
Adrian David Cheok
Keyword(s):  
Global Economy ◽  
Research Laboratory ◽  
Alternative Theory ◽  
The Novel ◽  
Scientific Journals ◽  
Zoonotic Virus ◽  
Natural Origin ◽  
Literature Evidence ◽  
Novel Coronavirus ◽  
Tremendous Impact

The COVID-19 pandemic caused by the novel coronavirus SARS-CoV-2 has led to deaths worldwide and decimation of the global economy. Despite its tremendous impact, the origin of SARS-CoV-2 has remained mysterious and controversial. The natural origin theory, although widely accepted, lacks substantial support. The alternative theory that the virus may have come from a research laboratory is, however, censored on peer-reviewed scientific journals. Nonetheless, SARS-CoV-2 shows biological characteristics that are inconsistent with a naturally occurring, zoonotic virus. In this report, the authors describe the genomic, structural, medical, and literature evidence, which, when considered together, strongly contradicts the natural origin theory. The evidence shows that SARS-CoV2 should be a laboratory product created by using bat coronaviruses ZC45 and/or ZXC21 as a template and/or backbone. Building upon the evidence, the authors further postulate a synthetic route for SARS-CoV-2, demonstrating that the lab-creation of this coronavirus is convenient and can be accomplished in approximately six months.

The Current Global Crisis: The Perils Of Economic Globalisation

2010 ◽  
Author(s):  
Mahani Zainal Abidin
Keyword(s):  
Global Economy ◽  
Specific Factor ◽  
Financial Systems ◽  
The Third ◽  
The Difference ◽  
The One ◽  
The Impact ◽  
Dot Com ◽  
Specific Country ◽  
Economic Globalisation

  The basic foundation of this crisis actually lies with the global economic system which is based on the globalisation of the economyand financial systems. That is the foundation of the current problem.However, if we actually look at the system, this crisis is not abouta specific country or specific factor. It is actually about the globalsystem which is based on the economic globalisation system. Thequestion that comes to mind with that statement is that, will thishappen again? In my opinion it will happen again. So, this is not the final crisis, and since it is not the first crisis, it will happen again. Based on the one that we had, let us get to the content. There will be three parts to this discussion. The first one is the causes of the crisis. The second one is the impact, and the third one is the future of the economic globalisation. Is the 2008 crisis a repeat of the 1998 crisis? In fact yes, and in between, the world has seen so many crises but the big crisis happen in 1932 when the whole world was in depression. Then, we have the present crisis. These are the two major crises that involved the whole world. In between we have many crises. For example in 1992, we had the Mexican crisis, in 1998 we had the Asian crisis, in 2001 we had dot com bubble crisis, and so forth. The difference between all the crises is the degree of the sovereignity. For some, it is restricted to some countries and some of it is regional. The only noticeable characteristic is that a crisis now occurs more often. Previously every 12 years, and then every 10 years. Now it is happening more often because the global economy is so integrated. So, if you look back and you see this pattern, this is what is going to happen.    

scholarly journals Baustelle Neomarxismus

2001 ◽  
Vol 31 (123) ◽  
pp. 177-202 ◽  
Author(s):  
Klaus Dräger
Keyword(s):  
Global Economy ◽  
Japanese Economy ◽  
Construction Site ◽  
Crisis Theory ◽  
The Us ◽  
The One ◽  
European Economies ◽  
Shareholder Capitalism ◽  
Alternative Solutions ◽  
Proper Analysis

The current s lowdown of the US- and European economies alike and the persistent stagnation of the Japanese economy revitalized the debates on crisis theory. Explanations of “stages of capitalism” offered by the Paris Regulation School on the one hand and of the neomarxist debate inspired by the work of Robert Brenner on the other hand are reviewed. The notion of the viability of a new finance led accumulation regime (shareholder capitalism), put forward by Aglietta and Boyer, is strongly contested. The author criticizes as well the neomarxist debate as offering no alternative perspectives to exit the long downswing of the global economy. Neomarxism is portrayed as a construction site, with a strong need of input from politcal ecology and feminism to provide a proper analysis of contemporary capitalism as well as perspectives for alternative solutions.

US-China trade negotiation discourses in the press

2021 ◽  
Author(s):  
Jiayu Li
Keyword(s):  
Corpus Linguistics ◽  
Global Economy ◽  
Trade Deficit ◽  
Trade Negotiation ◽  
China Trade ◽  
The Press ◽  
The Us ◽  
Critical Discourse Studies ◽  
Discourse Studies ◽  
The Difference

Abstract This article studies trade negotiation discourses during the US-China tariff truce, aiming at investigating the difference of ideologies of the U.S. and China journalists towards trade negotiation. Through integration of theories and methods of corpus linguistics and critical discourse studies and the use of the corpus linguistic software, the study finds that U.S. reports to some extent make itself appear as a victim of the trade, and hope to end unfair trade practices and reduce the chronic trade deficit, while China press focuses more on the harm of raising tariffs not just to each other but the global economy, through communication and dialogue rather than unilateral measures to peacefully resolve trade tensions. Perceived differences in culture have an important influence in the theoretical formation of the differences. The article concludes that the discourse patterns of the coverage imply a rising China and a new level of equilibrium in international politics.

Use of a Lyophilized Reference Plasma to Compare Coagulation Test Procedures

1975 ◽  
Vol 34 (02) ◽  
pp. 426-444 ◽  
Author(s):  
J Kahan ◽  
I Nohén
Keyword(s):  
Oral Anticoagulant Therapy ◽  
Repeated Measurements ◽  
Test Procedures ◽  
Coagulation Activity ◽  
Close Relationship ◽  
Measured Activity ◽  
Test Materials ◽  
The Difference ◽  
The Stability ◽  
The One

SummaryIn 4 collaborative trials, involving a varying number of hospital laboratories in the Stockholm area, the coagulation activity of different test materials was estimated with the one-stage prothrombin tests routinely used in the laboratories, viz. Normotest, Simplastin-A and Thrombotest. The test materials included different batches of a lyophilized reference plasma, deep-frozen specimens of diluted and undiluted normal plasmas, and fresh and deep-frozen specimens from patients on long-term oral anticoagulant therapy.Although a close relationship was found between different methods, Simplastin-A gave consistently lower values than Normotest, the difference being proportional to the estimated activity. The discrepancy was of about the same magnitude on all the test materials, and was probably due to a divergence between the manufacturers’ procedures used to set “normal percentage activity”, as well as to a varying ratio of measured activity to plasma concentration. The extent of discrepancy may vary with the batch-to-batch variation of thromboplastin reagents.The close agreement between results obtained on different test materials suggests that the investigated reference plasma could be used to calibrate the examined thromboplastin reagents, and to compare the degree of hypocoagulability estimated by the examined PIVKA-insensitive thromboplastin reagents.The assigned coagulation activity of different batches of the reference plasma agreed closely with experimentally obtained values. The stability of supplied batches was satisfactory as judged from the reproducibility of repeated measurements. The variability of test procedures was approximately the same on different test materials.

The Demand For Money in Pakistan: Reply (Notes and Comments)

1975 ◽  
Vol 14 (3) ◽  
pp. 370-375
Author(s):  
M. A. Akhtar
Keyword(s):  
Interest Rates ◽  
Money Demand ◽  
Strong Support ◽  
Physical Capital ◽  
Careful Examination ◽  
Demand For Money ◽  
Weak Support ◽  
Complementarity Hypothesis ◽  
The Difference ◽  
The One

I am grateful to Abe, Fry, Min, Vongvipanond, and Yu (hereafter re¬ferred to as AFMVY) [1] for obliging me to reconsider my article [2] on the demand for money in Pakistan. Upon careful examination, I find that the AFMVY results are, in parts, misleading and that, on the whole, they add very little to those provided in my study. Nevertheless, the present exercise as well as the one by AFMVY is useful in that it furnishes us with an opportunity to view some of the fundamental problems involved in an empi¬rical analysis of the demand for money function in Pakistan. Based on their elaborate critique, AFMVY reformulate the two hypo¬theses—the substitution hypothesis and the complementarity hypothesis— underlying my study and provide us with some alternative estimates of the demand for money in Pakistan. Briefly their results, like those in my study, indicate that income and interest rates are important in deter¬mining the demand for money. However, unlike my results, they also suggest that the price variable is a highly significant determinant of the money demand function. Furthermore, while I found only a weak support for the complementarity between money demand and physical capital, the results obtained by AFMVY appear to yield a strong support for that rela¬tionship.1 The difference in results is only a natural consequence of alter¬native specifications of the theory and, therefore, I propose to devote most of this reply to the criticisms raised by AFMVY and the resulting reformulation of the two mypotheses.

Effect of leakage and blockage on the acoustic behavior of particle filters

2019 ◽  
Vol 67 (6) ◽  
pp. 483-492
Author(s):  
Seonghyeon Baek ◽  
Iljae Lee
Keyword(s):  
Transfer Matrix ◽  
Particle Filters ◽  
Acoustic Analysis ◽  
Transmission Loss ◽  
One Dimensional ◽  
Filter System ◽  
The Difference ◽  
The One ◽  
Analytical Approaches ◽  
Good Agreement

The effects of leakage and blockage on the acoustic performance of particle filters have been examined by using one-dimensional acoustic analysis and experimental methods. First, the transfer matrix of a filter system connected to inlet and outlet pipes with conical sections is measured using a two-load method. Then, the transfer matrix of a particle filter only is extracted from the experiments by applying inverse matrices of the conical sections. In the analytical approaches, the one-dimensional acoustic model for the leakage between the filter and the housing is developed. The predicted transmission loss shows a good agreement with the experimental results. Compared to the baseline, the leakage between the filter and housing increases transmission loss at a certain frequency and its harmonics. In addition, the transmission loss for the system with a partially blocked filter is measured. The blockage of the filter also increases the transmission loss at higher frequencies. For the simplicity of experiments to identify the leakage and blockage, the reflection coefficients at the inlet of the filter system have been measured using two different downstream conditions: open pipe and highly absorptive terminations. The experiments show that with highly absorptive terminations, it is easier to see the difference between the baseline and the defects.

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