Available online 23 July 2010 We investigate the effectiveness of capital controls in insulating economies from currency crises, focusing in particular on both direct and indirect effects of capital controls and how these relationships may have changed over time in response to global financial liberalization and the greater mobility of international capital. We predict the likelihood of currenc...

Many cognitive processes rely on representations of magnitude, yet these representations are often malleable (H. Helson, 1964; J. Huttenlocher, L. V. Hedges, & J. L. Vevea, 2000; A. Parducci, 1965). It is likely that factors that affect these representations in turn affect the psychological processes that rely on them. The authors conducted 4 experiments to investigate whether language-expressi...

We are interested in recurrent disaster forecasts; these are events such as annual cyclones in the Caribbean, earthquakes along the Ring of Fire and so on. These crises, even smallor medium-sized, are, in fact, critical for the emergency response of humanitarian organizations inasmuch as the sum of casualties and losses attained are as deadly as those that are considered exceptional. The aim of...

The past two decades have seen extensive analyses of the taxonomic severity of major biodiversity crises in geologic time. In contrast, we propose here an alternative analysis of the ecological severity of biodiversity crises. It is clear that the ecological impacts of the five Phanerozoic biodiversity crises were not all the same. Ranking the five Phanerozoic biodiversity crises by ecological ...

Big Bang Nucleosynthesis (BBN), along with the cosmic background radiation and the Hubble expansion, is one of the pillars of the standard, hot, big bang cosmology since the primordial synthesis of the light nuclides (D, He, He, Li) must have occurred during the early evolution of a universe described by this model. The overall consistency between the predicted and observed abundances of the li...

First, a recent series of crises and catastrophes has attracted public attention. Natural disasters like Hurricane Katrina devastating the Gulf Coast of the United States in 2005, terrorist acts such as the attacks of September 11, 2001, and epidemics like S ARS in South-East Asia in 2003 are violent reminders that we live in an unpredictable and increasingly unstable world. Moreover, there is ...

This paper documents a positive relation between internationalization and bank risk. This is consistent with the empirical dominance of the market risk hypothesis – whereby internationalization increases banks’ risk due to market-specific factors – over the diversification hypothesis – whereby internationalization allows banks to reduce risk through increased diversification of their operations...

ABSTRACT This study addresses the question of whether the adaptive market hypothesis provides a better description of the behaviour of emerging stock market like India. We employed linear and nonlinear methods to evaluate the hypothesis empirically. The linear tests show a cyclical pattern in linear dependence suggesting that the Indian stock market switched between periods of efficiency and in...