Academic Journal

pages unknown

This paper seeks to provide a comparative analysis of the role of labour movements in democratisation during two very different political transitions in Nigeria and South Africa and in the context of globalisation and neoliberal hegemony. First, Nigeria is examined as an example of authoritarian rollback and containment of pro-democracy movements in an economy heavily conditioned by interventions from the International Monetary Fund and the World Bank. Second, South Africa is discussed as a case of home-grown structural adjustment or gradual neoliberal shift in macroeconomic policies without relevant external interventions. The paper compares the failure of past Nigerian democratisation with the problems and issues arising after the first successful democratic electoral change in South Africa. Labour is analysed by focusing on its relationships with a set of organisations, institutions and regulated behaviours, and the broader concept of labour movement in its plurality of forms of identity, militancy and organisation. The argument of this paper is that the neoliberal discourse, with or without overt political authoritarianism, involves a narrowing of spaces for institutionalising the progressive role of labour in civil society. In the Nigerian case, this process leads to grassroots' demand for a significant radicalisation of trade union strategies, while the possibilities and constraints for such an outcome in the South African case are explored in relation to the crisis of corporatist solutions. The paper concludes that the impact of labour is the single most important factor in the establishment of democracy through alliance with other social forces. At the same time, this conclusion cautions with the contradictory nature of pressures placed on organised labour. [ABSTRACT FROM AUTHOR]


Academic Journal

pages 23

Clinical sciences have not yet systematically tested the potential of Bowen family systems theory to understand and predict the course of a wide range of clinical symptoms. This is a progress report on the development and application of a reliable method to document the emotional impact of the family system on clinical subjects and the course of their symptoms over time. A systematic method of analyzing data from family evaluation interviews has been developed to track shifts in the family emotional system associated with weight loss in overweight and obese individuals. The method produces a timeline of shifts in the family system, shifts in the functioning and anxiety levels of subjects, and changes in subjects' weight. Four studies are described that illustrate and support the development and use of the method. It is hoped that this framework will encourage the practice of tracking the family system as a variable in mainstream clinical research, especially in studies of the course of symptoms and treatment outcomes over time and across a broad range of clinical disorders. [ABSTRACT FROM AUTHOR]


Academic Journal

pages 14

Appreciating the undeniable value of General Systems Theory (GST), Alfred Locker considers the question whether or not GST is able to go beyond a mere scientific point of view. Locker's own systems theoretical approach, Trans-Classical Systems Theory, proposes not only to include usual observations into a systems view, but likewise their theoretical presuppositions. Locker hereby creates two levels of observation; an ortho- and a meta-level, where otherwise incommensurable viewpoints are united into whole. In this way, Locker is able to articulate a holistic systems theory of seeming opposites, like, for example, creation and evolution. [ABSTRACT FROM AUTHOR]


Academic Journal

pages 10

The development of a general theory of systems has been impeded by lack of progress with identifying and refining scientific general systems principles that could underpin the systematic discovery of systems laws and development of predictive systems theories. This paper discusses a model of the nature, roles and developmental pathways of principles in science generally and by analogy suggests ways in which scientific systems principles might be identified and leveraged by systems science. Eight strategies for such research are identified, and preliminary results of a first pilot project are presented. Copyright © 2017 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]


A Minimum-Fuel Fixed-Time Low-Thrust Rendezvous Solved with the Switching Systems Theory.

by GAZZINO, Clément, ARZELIER, Denis, CERRI, Luca, LOSA, Damiana, LOUEMBET, Christophe, Christelle PITTET [2018-12-01]

Academic Journal

pages 7

In this paper, a fuel optimal rendezvous problem is tackled in the Hill-Clohessy-Wiltshire framework with several operational constraints as bounds on the thrust, non linear non convex and disjunctive operational constraints (on-off profile of the thrusters, minimum elapsed time between two consecutive firings...). An indirect method and a decomposition technique have already been combined in order to solve this kind of optimal control problem with such constraints. Due to a great number of parameters to tune, satisfactory results are hard to obtain and are sensitive to the initial condition. Assuming that no singular arc exists, it can be shown that the optimal control exhibits a bang-bang structure whose optimal switching times are to be found. Noticing that a system with a bang-bang control profile can be considered as two subsystems switching from one with control on to with control off, and vice-versa, a technique coming from the switching systems theory is used in order to optimise the switching times. [ABSTRACT FROM AUTHOR]


Academic Journal

pages 16

No subject.

Academic Journal

pages 8

No subject.

Systems theory analysis of Ebola virus disease and nursing needs in the West African Sub-Region.

by Adetola, Obatunde Bright, Adedeji, Isaac A., Popoola, Omolara [2018-11-01]

Academic Journal

pages 7

The outbreak of the Ebola virus disease (EVD) in the West African Sub-Region and its spread occurred through a vast array of epidemic management misinterpretations, challenges, and channels. This discussion paper however engages these issues within the context of balancing cultural imperatives and health standards. Data sources (archival sources -- newspaper reviews: July 2014--January 2015; and academic literature) were theoretically and methodological engaged. The aim of the paper was to establish that social systems thrive through a subsystem of exchange. Hence, it was ascertained that through biological and social exchange, Ebola is capable of causing social systems breakdown and death. The paper concludes that the lower degree of permeability present in the Nigerian social system, which is a function of multiple factors, related to space, time, and technology accounted for the outcome of management, control, and containment of the EVD in Nigeria West Africa. The implication of these vis-à-vis the nursing practice and profession was documented to reflect the health system and its extent of functionality. [ABSTRACT FROM AUTHOR]


Academic Journal

pages 7

In this work, a novel time-delayed polynomial grey prediction model with the fractional order accumulation is put forward, which is abbreviated as TDPFOGM(1,1), based on the new grey system theory to predict the small sample in comparison with the existing forecasting models. The new model takes into account the nonhomogeneous term and the priority of new information can be better reflected in the in-sample model. The data in this paper all come from the existing literatures. The results demonstrate that the TDPFOGM(1,1) model outperforms the TDPGM(1,1) and FOGM(1,1) model. [ABSTRACT FROM AUTHOR]


Structural, dynamical and symbolic observability: From dynamical systems to networks.

by Aguirre, Luis A., Portes, Leonardo L., Letellier, Christophe [2018-10-31]

Academic Journal

pages 21

Classical definitions of observability classify a system as either being observable or not. Observability has been recognized as an important feature to study complex networks, and as for dynamical systems the focus has been on determining conditions for a network to be observable. About twenty years ago continuous measures of observability for nonlinear dynamical systems started to be used. In this paper various aspects of observability that are established for dynamical systems will be investigated in the context of networks. In particular it will be discussed in which ways simple networks can be ranked in terms of observability using continuous measures of such a property. Also it is pointed out that the analysis of the network topology is typically not sufficient for observability purposes, since both the dynamics and the coupling of such nodes play a vital role. Some of the main ideas are illustrated by means of numerical simulations. [ABSTRACT FROM AUTHOR]


Controllability and Observability Analysis of Nonlinear Positive Discrete Systems.

by Naim, Mouhcine, Lahmidi, Fouad, Namir, Abdelwahed [2018-12-03]

Academic Journal

pages 9

This article studies the controllability and observability of nonlinear positive discrete systems. These properties play a fundamental role in system analysis before controller and observer design is engaged. We solve these problems by a technique based on the fixed point theory. [ABSTRACT FROM AUTHOR]


Footprints of General Systems Theory.

by Malecic, Aleksandar [2017-09-01]

Academic Journal

pages 6

The article discusses the general systems theory (GST). Topics discussed include success of cybernetics, opinion of J. Ladyman and D. Ross' about contribution of modern metaphysics to unification of scientific disciplines along with their work inspired from Daniel Dennett and Brian Josephson's structural theory of everything.


ZRÓWNOWAŻONA POLITYKA PIENIĘŻNA? EWOLUCJA CELÓW BANKU CENTRALNEGO WOBEC WSPÓŁCZESNYCH WYZWAŃ.

by Przybylska-Kapuścińska, Wiesława, Szyszko, Magdalena [2016-06-08]

Academic Journal

pages 10

No subject.

ОСОБЕННОСТИ ФУНКЦИОНИРОВАНИЯ КАНАЛОВ ДЕНЕЖНО-КРЕДИТНОЙ ТРАНСМИССИИ ДО И ПОСЛЕ ФИНАНСОВОГО КРИЗИСА.

by САЛМАНОВ, Олег Николаевич, ЗАЕРНЮК, Виктор Макарович, ЛОПАТИНА, Ольга Алексеевна [2017-07-01]

Academic Journal

pages 20

No subject.

A Review of the Fed's Unconventional Monetary Policy.

by Rudebusch, Glenn D. [2018-12-03]

Periodical

pages 5

The Federal Reserve has typically used a short-term interest rate as the policy tool for achieving its macroeconomic goals. However, with short-term rates constrained near zero for much of the past decade, the Fed was impelled to use two unconventional monetary policy tools: forward guidance and quantitative easing. These tools likely strengthened the economic recovery and helped return inflation to the Fed's target-although their full impact remains uncertain. [ABSTRACT FROM AUTHOR]

No subject.

Academic Journal

pages 20

No subject.

Academic Journal

pages 8

Global financial crisis represented an important test for central banks, generating multiple challenges that gave rise to both expanding their monetary policy tools and redefining its role in the financial system. The present work aims to identify the characteristics of the monetary policy by the central banks of the five countries belonging to ASEAN-5 Group(Indonesia, Malaysia, the Philippines, Singapore and Thailand), during and after the outbreak of the international financial crisis. For this purpose we carried out a comparative analysis between the five central banks belonging to the Group, both in terms of the challenges of the monetary policy and the type of measures taken in response to the first. The analysis shows that central banks have different levels of responsibilities, corresponding to the internal economic and financial realities, and also different ways of adaptation and adjustment of their monetary policy. [ABSTRACT FROM AUTHOR]


Risk Management for Monetary Policy Near the Zero Lower Bound.

by Evans, Charles, Fisher, Jonas, Gourio, François, Krane, Spencer [2015-03-01]

Academic Journal

pages 75

As projections have inflation heading back toward target and the labor market continuing to improve, the Federal Reserve has begun to contemplate an increase in the federal funds rate. There is however substantial uncertainty around these projections. How should this uncertainty affect monetary policy? In standard models uncertainty has no effect. In this paper, we demonstrate that the zero lower bound on nominal interest rates implies that the central bank should adopt a looser policy when there is uncertainty. In the current context this result implies that a delayed liftoff is optimal. We first demonstrate theoretically this result using two canonical macroeconomic models. On the one hand, raising rates early might lead to excessively weak growth and inflation if the economic fundamentals turns out weaker than expected. On the other hand, raising rates later might lead to inflation if economic fundamentals are stronger than expected. Near the zero lower bound, monetary policy tools are strongly asymmetric and can deal with the second scenario much more easily than with the first. We next provide a quantitative evaluation of this policy using numerical simulations calibrated to the current environment. Finally, we present narratives from Federal Reserve communications that suggest risk management is a longstanding practise, and econometric evidence that the Federal Reserve historically has responded to uncertainty, as measured by a variety of indicators. [ABSTRACT FROM AUTHOR]


Academic Journal

pages 17

The main goal of the research is to develop monetary policy tools and measures enabling to achieve macroeconomic goals of integration into the euro area in the immediate future. It is noted that until the introduction of the euro Lithuania does not have a monetary policy and applies the currency board regime pegging the litas invariably to the euro (hard peg regime). Therefore, it is not only difficult but also risky to try to achieve financial and economic stability in accordance with the relevant Maastricht criteria through fiscal policy measures alone. Monetary policy instruments are necessary to achieve price stability and the overall financial stability. Currently, Lithuania should address the problem of balancing the currency board regime and the Maastricht criteria as a macroeconomic objective through monetary policy tools and measures. The analysis of monetary policies of advanced economies and, first of all, of the euro area reveals the main features of transmission of the monetary policy to a real economy, which can contribute to the successful integration into the euro area. A systemic analysis of the monetary policy is based on monetary and economic theories, laws and patterns, scientific literature and empirical studies. The method used is the logical analysis and systemising of academic literature and modelling of the monetary policy. Such a methodological position enables the justification of the influence of the euro and monetary policy on the future development of the national economy. [ABSTRACT FROM AUTHOR]


Sooner or Later: Timing of Monetary Policy with Heterogeneous Risk-Taking†.

by Choi, Dong Beom, Eisenbach, Thomas M., Yorulmazer, Tanju [2016-05-01]

Academic Journal

pages 6

We analyze the effects and interactions of monetary policy tools that differ in terms of their timing and their targeting. In a model with heterogeneous agents, more productive agents endogenously expose themselves to higher interim liquidity risk by borrowing and investing more. Two inefficiencies impair the transmission of monetary policy: an investment- and a hoarding inefficiency. Heterogeneous agents respond disparately to ex-ante, conventional and ex-post, unconventional monetary policy. However, we show that the two policies are equivalent due to the endogeneity of hoarding. In contrast, targeted interventions such as discount-window lending can alleviate both inefficiencies at the same time. [ABSTRACT FROM AUTHOR]


Academic Journal

pages 19

No subject.

HAS FED'S POLICY HURT THE WORLD ECONOMY?

by Adhikari, Deergha Raj [2017-01-01]

Academic Journal

pages 12

In an attempt to rescue the U.S. financial market and to stimulate the economy, the Federal Reserve introduced a number of non-conventional monetary policy tools. Termed as "credit easing" and aimed at lowering both the short-term and the long-term interest rates and thereby boosting the consumption and investment demand and, in turn, stimulating the economy, this policy had the effect of altering both the size and composition of the Federal Reserve's balance sheet. These nonconventional policy tools were thought to be necessary when conventional policy tool, such as, the federal funds rate target had almost reached zero. These policy tools were implemented in the forms of: (a) lending to financial institutions, (b) providing liquidity to key credit markets, and (c) purchasing longer-term securities. There have been several studies on the impact of the recent U.S. monetary policy. But these studies mainly focus on its effect on the interest rate, the commodity prices, and the exchange rates. None of these studies have examined the impact of U.S. monetary policy on a specific country, a specific group of countries, or the world economy. Also, these studies do not use a general equilibrium model that takes into account both the goods market and the money market equilibrium condition. We develop a general equilibrium model of income, in which the domestic real GDP is a function of domestic currency's exchange rate and the foreign monetary base. We, then, apply the model on a panel data on the United States and the BRICS countries to see if U.S. credit easing has any effect on BRICS countries' real GDP. Our study finds that the recent U.S. monetary policy of credit (quantitative) easing has an adverse effect on BRICS countries' real GDP. This finding seems intuitive, because, the increase in the U.S. money supply caused by its pursuance of the credit easing policy will lower the interest rate in the U.S. increasing the relative prospective rate of return on investment in the United States. This increased relative rate of return causes increased capital flow into the U.S. from abroad including the BRICS countries. The capital outflows, in turn, lower the investment and, consequently the real GDP in BRICS countries. Also, the random effect is negative for Brazil and Russia, while it is positive for China, India, and South Africa, suggesting that the U.S. monetary policy has a greater negative impact on the real GDP of Brazil and Russia than on that of other BRICS countries. The policy implication of our finding is that an easy monetary policy, such as, quantitative easing does lower the interest rate and increase domestic investment and thereby stimulate the economy. Therefore, some of the policy measures the BRICS countries can take to insulate their economies from a negative impact of the U.S. monetary policy is to implement a similar (easy) monetary policy in their own countries or exercise a direct control on capital outflow. [ABSTRACT FROM AUTHOR]


Report

pages 43

The global financial crisis (GFC) of 2007-2008 led to a call for central banks to elevate their financial stability mandate to the same level as their price stability mandate. It also led to a call for central banks to use their monetary policy tools as well as the tools of macro prudential policy to head off incipient credit driven asset price booms, which were viewed as the primary cause of the GFC. Others have questioned the elevation of the financial stability mandate and also the use of the tools of monetary policy for financial stability purposes. To help resolve this debate I examine: the history of monetary policy and financial stability regimes in advanced countries in the past two centuries; the historical empirical evidence on the determinants, incidence, and costs of financial crises; and historical empirical evidence on the relationships between credit booms, asset price booms and financial crises for 15 countries in the past century. My findings suggest that: financial crises are highly heterogeneous and have many causes, not just restricted to credit driven asset price booms; that the links between credit booms and serious financial crises are quite weak. Moreover, the coincidence of credit booms and serious financial crises is most evident in two "perfect storms": 1929-1933 and 2007-2008. In other words that they are rare events. This leads to the question whether such rare events should lead to a sea change in monetary policy and financial stability policy. The experience of financial repression in the decades following the Great Depression raises some serious doubts. [ABSTRACT FROM AUTHOR]