Since the occurrence of the Great Financial Crisis (GFC) in 2007/2008, our understanding of (macro) economics changed fundamentally. The evolution of the GFC revealed fundamental changes in the structural composition of financial systems in that traditional retail banking services, especially in the U.S., shifted progressively into a market-based banking system called the shadow banking system. Consequently, policy makers were forced to adapt the existing toolkit in two ways: implementing unconventional monetary measures to stimulate markets and introducing macroprudential measures as laid down in the BASEL III-framework geared towards the resilience and stability of the financial sector. This thesis addresses these aspects by using state-of-the-art closed- and open-economy dynamic stochastic general equilibrium models to analyze the impact of shadow banking on the business cycle and on the interaction with monetary and macroprudential policy measures.
Inhaltsangabe:Introduction: When making a decision of minor importance, I have always found it advantageous to consider all the pros and cons. In vital matters, however, such as the choice of a mate or a profession, the decision should come from the unconscious, from somewhere within ourselves. In the important decisions of personal life, we should be governed, I think, by the deep inner needs of our nature. Sigmund Freud (1856 1939). Problem Statement, Research Objective and Motivation: For almost a century the dominant idea of man in economics has been the perfectly rational utility maximizer, subsumed Homo oeconomicus. In the late 1960s and 70s Amos Tversky and Daniel Kahneman conducted a serial of experiments whose results showed that individuals make judgements that systematically violate objective norms of rationality. The findings by Tversky and Kahneman confirmed, what has been theorised before by Herbert Simon (1955), that humans are boundedly or rather approximately rational. The work of these scholars has been a major impetus for the subsequent change in idea of man across various disciplines, including economics. Kahneman and Tversky (1974) identified several broad simplifying strategies, termed heuristics that have the great advantage of speed and adaptivity in decision making, though being less accurate than objective norms of rationality. Moreover, their use often results in cognitive biases, that may lead to systematic errors in judgement. Such an entry of non-rationality into human decision behavior has lead to a more realistic assessment of how decisions are actually made by individuals taking bounded rationality and uncertainty of the environment into account. The entrepreneurial field is an environment in which these factors are particularly prevalent, and individuals especially unprotected against. This may manifest in a higher susceptibility to heuristics and biases than by other subpopulations. Studies on decision making have shown that entrepreneurs often do use approximate strategies. Experimental results show both a higher susceptibility to some biases than other individuals and a lower susceptibility to other biases. These findings allow for the assumption of a situation or domain-specific susceptibility to certain biases. However, entrepreneurs are known to be a quite heterogeneous group, raising the question whether a type-specific proneness to certain heuristics and biases exists. To find out if this is the case [...]
concentrates on teaching techniques using as much theory as needed. application of the techniques to many problems of materials characterization. Mössbauer spectroscopy is a profound analytical method which has nevertheless continued to develop. The authors now present a state-of-the art book which consists of two parts. The first part details the fundamentals of Mössbauer spectroscopy and is based on a book published in 1978 in the Springer series 'Inorganic Chemistry Concepts' by P. Gütlich, R. Link and A.X. Trautwein. The second part covers useful practical aspects of measurements, and the application of the techniques to many problems of materials characterization. The update includes the use of synchroton radiation and many instructive and illustrative examples in fields such as solid state chemistry, biology and physics, materials and the geosciences, as well as industrial applications. Special chapters on magnetic relaxation phenomena (S. Morup) and computation of hyperfine interaction parameters (F. Neese) are also included. The book concentrates on teaching the technique using theory as much as needed and as little as possible. The reader will learn the fundamentals of the technique and how to apply it to many problems of materials characterization. Transition metal chemistry, studied on the basis of the most widely used Mössbauer isotopes, will be in the foreground.
Markets and power in digital capitalism delves into the complex world of modern capitalism, where technology giants reign supreme. From Google and Apple to Amazon and Tencent, these internet behemoths have reshaped the economic landscape, transforming capitalism as we know it. Philipp Staab takes readers on a thought-provoking journey through the virtual realm, exploring how digital surveillance and evaluation practices have infiltrated every aspect of our lives. What sets digital capitalism apart, he argues, is the rise of 'proprietary markets'. No longer focused on producing goods and selling them for profit, today's meta-platforms thrive by owning and controlling the very markets in which they operate. This raises important questions about power dynamics, market monopolies and the future of economic systems. With sharp insight and meticulous research, the book sheds light on the intricate workings of our digitised economy. Staab's compelling analysis challenges us to confront the realities of surveillance capitalism and the urgent need to address the inequities it perpetuates.
Refocusing Ethnographic Museums through Oceanic Lenses offers a collaborative ethnographic investigation of Indigenous museum practices in three Pacific museums located at the corners of the so-called Polynesian triangle: Bernice Pauahi Bishop Museum, Hawai‘i; Museum of New Zealand Te Papa Tongarewa; and Museo Antropológico Padre Sebastián Englert, Rapa Nui. Since their inception, ethnographic museums have influenced academic and public imaginations of other cultural-geographic regions, and the often resulting Euro-Americentric projection of anthropological imaginations has come under intense pressure, as seen in recent debates and conflicts around the Humboldt Forum in Berlin, Germany. At the same time, (post)colonial renegotiations in former European and American colonies have initiated dramatic changes to anthropological approaches through Indigenous museum practices. This book shapes a dialogue between Euro-Americentric myopia and Oceanic perspectives by offering historically informed, ethnographic insights into Indigenous museum practices grounded in Indigenous epistemologies, ontologies, and cosmologies. In doing so, it employs Oceanic lenses that help to reframe Pacific collections in, and the production of public understandings through, ethnographic museums in Europe and the Americas. By offering insights into Indigenous museologies across Oceania, the coauthors seek to recalibrate ethnographic museums, collections, and practices through Indigenous Oceanic approaches and perspectives. This, in turn, should assist any museum scholar and professional in rethinking and redoing their respective institutional settings, intellectual frameworks, and museum processes when dealing with Oceanic affairs; and, more broadly, in doing the “epistemic work” needed to confront “coloniality,” not only as a political problem or ethical obligation, but “as an epistemology, as a politics of knowledge.” A noteworthy feature is the book’s layered coauthorship and multi-vocality, drawing on a collaborative approach that has put the (widespread) philosophical commitment to dialogical inquiry into (seldom) practice by systematically co-constituting ethnographic knowledge. Further, the book shapes an “ethnographic kaleidoscope,” proposing the metaphor of the kaleidoscope as a way of encouraging fluid ethnographic engagements to avoid the impulse to solidify and enclose differences, and remain open to changing ethnographic meanings, positions, performances, and relationships. The coauthors collaboratively mobilize Oceanic eyes, bodies, and sovereignties, thus enacting an ethnographic kaleidoscopic process and effect aimed at refocusing ethnographic museums through Oceanic lenses.
Governing Compact Cities investigates how governments and other critical actors organise to enable compact urban growth, combining higher urban densities, mixed use and urban design quality with more walkable and public transport-oriented urban development. Philipp Rode draws on empirical evidence from London and Berlin to examine how urban policymakers, professionals and stakeholders have worked across disciplinary silos, geographic scales and different time horizons since the early 1990s.
This book is a rare jewel, describing fundamental research in a highly dynamic field of subatomic physics. It presents an overview of cross section measurements of deeply virtual Compton scattering. Understanding the structure of the proton is one of the most important challenges that physics faces today. A typical tool for experimentally accessing the internal structure of the proton is lepton–nucleon scattering. In particular, deeply virtual Compton scattering at large photon virtuality and small four-momentum transfer to the proton provides a tool for deriving a three-dimensional tomographic image of the proton. Using clear language, this book presents the highly complex procedure used to derive the momentum-dissected transverse size of the proton from a pioneering measurement taken at CERN. It describes in detail the foundations of the measurement and the data analysis, and includes exhaustive studies of potential systematic uncertainties, which could bias the result.
This research addresses delay effects in nonlinear systems, which are ubiquitous in various fields of physics, chemistry, biology, engineering, and even in social and economic systems. They may arise as a result of processing times or due to the finite propagation speed of information between the constituents of a complex system. Time delay has two complementary, counterintuitive and almost contradictory facets. On the one hand, delay is able to induce instabilities, bifurcations of periodic and more complicated orbits, multi-stability and chaotic motion. On the other hand, it can suppress instabilities, stabilize unstable stationary or periodic states and may control complex chaotic dynamics. This thesis deals with both aspects, and presents novel fundamental results on the controllability of nonlinear dynamics by time-delayed feedback, as well as applications to lasers, hybrid-mechanical systems, and coupled neural systems.
This monograph presents innovative research regarding the body experience of human individuals who are using assistive robotic devices such as wearable robots or teleoperation systems. The focus is set on human-in-the-loop experiments that help to empirically evaluate how users experience devices. Moreover, these experiments allow for further examination of the underlying mechanisms of body experience through extending existing psychological paradigms, e.g., by disentangling tactile feedback from contacts. Besides reporting and discussing psychological examinations, the influence of various aspects of engineering design is investigated, e.g., different implementations of haptic interfaces or robot control. As haptics are of paramount importance in this tight type of human-robot interaction, it is explored with respect to modality as well as temporal and spatial effects. The first part of the book motivates the research topic and gives an in-depth analysis of the experimental requirements. The second and third part present experimental designs and studies of human-robot body experience regarding the upper and lower limbs as well as cognitive models to predict them. The fourth part discusses a multitude of design considerations and provides directions to guide future research on bidirectional human-machine interfaces and non-functional haptic feedback.
This monumental study of Johann Sebastian Bach ranks among the great classics of musicology. Since its first publication in 1873–80, it has remained the basic work on Bach and the foundation of later research and study. The three-part treatment describes in chronological sequence practically everything that is known of the composer's life: his ancestry, his immediate family, his associations, his employers, and the countless occasions on which his musical genius emerged. Author Philipp Spitta accompanies this biographical material with quotations from primary sources: correspondence, family records, diaries, official documents, and more. In addition to biographical data, Spitta reviews Bach's musical production, with analyses of more than 500 pieces, covering all the important works. More than 450 musical excerpts are included in the main text, and a 43-page musical supplement illustrates longer passages. Despite the scholarly nature of this work, it also has the rare distinction of being a study that can be read with considerable enjoyment and great profit by every serious music lover, with or without a substantial background in the history of music or musical theory.
In today's organizational sociology, organizations are usually regarded as late achievements of modernity in the history of mankind. Max Weber is repeatedly cited as the supposed guarantor of this thesis. But neither his type of "bureaucratic rule" nor his concept of "rational work organization" - although both are tailored to modern conditions - contain, on closer inspection, compelling arguments for a principled limitation of organizations as such to modernity. Both actually reach their depth of focus only in contrast to "pre-modern" forms of organization. A sociology of organization that wants to refer to Max Weber's work while avoiding the numerous common misunderstandings of its reception must broaden its historical view and consider the possibility of "pre-modern organizations".
Philipp Mohl evaluates the macroeconomic effects of EU Cohesion Policy with the help of empirical methods. His findings indicate that in particular the part of EU Cohesion Policy which is spent for the poorest regions (the so-called Objective 1 funding) has a positive and statistically significant impact on economic growth. Moreover, the employment effects of EU Cohesion Policy seem to be conditional on the educational attainment, i.e., in particular regions with a high share of high-skilled population tend to benefit from EU funds. Finally, the author does not find evidence that EU funds significantly increase public investment in the EU countries, which points to a crowding out of national investment. Overall, the gained insights contribute to a more profound understanding of the macroeconomic effects of EU Cohesion Policy, which is essential to design an effective and efficient EU spending system.
Philipp M. Lersch shows that residential relocations may change individuals’ lives for the better but also for the worse depending on their resources, restrictions and contextual conditions. A comparative analysis of English and German panel data reveals that relocations improve the quality of dwellings on average in both countries but improvements strongly depend on life course stages and economic resources of individuals. Only few individuals improve their neighbourhoods when relocating. Conditions in the housing market are important determinants of these changes. Gender inequality persists in the occupational outcomes of relocations in England and West Germany. Due to institutional conditions, residential trajectories in England exhibit more variation and a higher risk of changes for the worse than in Germany. These innovative findings will inspire further research on the consequences of residential relocations.
Historicizing both emotions and politics, this open access book argues that the historical work of emotion is most clearly understood in terms of the dynamics of institutionalization. This is shown in twelve case studies that focus on decisive moments in European and US history from 1800 until today. Each case study clarifies how emotions were central to people’s political engagement and its effects. The sources range from parliamentary buildings and social movements, to images and speeches of presidents, from fascist cemeteries to the International Criminal Court. Both the timeframe and the geographical focus have been chosen to highlight the increasingly participatory character of nineteenth- and twentieth-century politics, which is inconceivable without the work of emotions.
Since the occurrence of the Great Financial Crisis (GFC) in 2007/2008, our understanding of (macro) economics changed fundamentally. The evolution of the GFC revealed fundamental changes in the structural composition of financial systems in that traditional retail banking services, especially in the U.S., shifted progressively into a market-based banking system called the shadow banking system. Consequently, policy makers were forced to adapt the existing toolkit in two ways: implementing unconventional monetary measures to stimulate markets and introducing macroprudential measures as laid down in the BASEL III-framework geared towards the resilience and stability of the financial sector. This thesis addresses these aspects by using state-of-the-art closed- and open-economy dynamic stochastic general equilibrium models to analyze the impact of shadow banking on the business cycle and on the interaction with monetary and macroprudential policy measures.
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