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on Post Keynesian Economics |
| By: | Kenji Azetsu (Center for Liberal Arts, Osaka University of Health and Sport Sciences); Takeshi Koba (Faculty of Maritime Sciences, Kobe University); Takeshi Nakatani (Graduate School of Economics, Kobe University) |
| Date: | 2008–12 |
| URL: | http://d.repec.org/n?u=RePEc:koe:wpaper:0823&r=pke |
| By: | Charles Goodhart |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:fmg:fmgsps:sp181&r=pke |
| By: | Miguel A. Segoviano Basurto; C. A. E. Goodhart |
| Abstract: | This paper defines a set of banking stability measures which take account of distress dependence among the banks in a system, thereby providing a set of tools to analyze stability from complementary perspectives by allowing the measurement of (i) common distress of the banks in a system, (ii) distress between specific banks, and (iii) distress in the system associated with a specific bank. Our approach defines the banking system as a portfolio of banks and infers the system's multivariate density (BSMD) from which the proposed measures are estimated. The BSMD embeds the banks' default inter-dependence structure that captures linear and non-linear distress dependencies among the banks in the system, and its changes at different times of the economic cycle. The BSMD is recovered using the CIMDO-approach, a new approach that in the presence of restricted data, improves density specification without explicitly imposing parametric forms that, under restricted data sets, are difficult to model. Thus, the proposed measures can be constructed from a very limited set of publicly available data and can be provided for a wide range of both developing and developed countries. |
| Keywords: | Financial stability , Financial risk , Banking systems , Data analysis , Economic models , |
| Date: | 2009–01–12 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:09/4&r=pke |
| By: | Germana Bottone (ISAE) |
| Abstract: | Human capital is usually defined as “The aggregation of investments, such as education and on the job training that improves the individual’s productivity in the labour market”. The initial definition did not take into account some central aspects of “human capital”, owing to a supposed analogy with physical capital. But even though, from an economic point of view, there are some similarities, human beings are more complex than automatic machines. More recently, it has been attempted to articulate a more extensive definition of “human capital” by considering all the attributes embodied in individuals relevant to economic activity”. Nevertheless, the evolution of human capital definition is in some way restricted to its economic meaning, neglecting the intrinsic complexity of the concept that demands an in-depth re-examination of its social and cultural value. In order to achieve deeper understanding of the multiplicity of aspects making up human capital, we are going to make use of the main concepts of institutional and evolutionary economics.. |
| Keywords: | Human capital, Institutional Economics, lifelong learning, Institutional quality |
| JEL: | J24 J31 |
| Date: | 2008–12 |
| URL: | http://d.repec.org/n?u=RePEc:isa:wpaper:107&r=pke |