Topic
Shadow (psychology)
About: Shadow (psychology) is a research topic. Over the lifetime, 8396 publications have been published within this topic receiving 117158 citations.
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TL;DR: In this article, the authors used vector autoregressive models with either constant or time-varying parameters and stochastic volatility for the United States, and found that a contractionary monetary policy shock has a persistent negative impact on the asset growth of commercial banks, but increases the assets growth of shadow banks and securitisation activity.
Abstract: Using vector autoregressive models with either constant or time-varying parameters and stochastic volatility for the United States, we find that a contractionary monetary policy shock has a persistent negative impact on the asset growth of commercial banks, but increases the asset growth of shadow banks and securitisation activity. To explain this ‘waterbed’ effect, we propose a standard New Keynesian model featuring both commercial and shadow banking, and we show that the model comes close to explaining the empirical results. Our findings cast doubt on the idea that monetary policy can usefully ‘get in all the cracks’ of the financial sector in a uniform way.
77 citations
TL;DR: In this article, the authors analyse how the emergence of new welfare services is mutually shaped by factors that stimulate self-organization among citizens and by meta-governing interventions by local governments.
Abstract: Self-organization is a concept that is often used to legitimize a government’s retreat from sectors in which it has traditionally played a vital role In this article, we analyse how the emergence of new welfare services is mutually shaped by factors that stimulate self-organization among citizens and by meta-governing interventions by local governments Self-organization seems to takes place in the shadow of a government hierarchy: either a fear-based one or a benevolent one Boundary spanners play an important role in establishing these new arrangements, thereby making use of, and developing, trustworthy relationships between citizen groups and government
77 citations
01 Jan 2000
TL;DR: The story of Martin Dressler, an entrepreneur in the late Nineteenth century in New York City, is described in this paper, who makes his fortune in real estate, designing and constructing ever larger and more grandiose buildings in different areas of Manhattan, each construction project is intended to be a statement about both design and technology and about employing what were then emerging technologies such as electricity, in ways that provided inhabitants with an amazing array of resources in one place.
Abstract: A recent Pulitzer Prize winning novel, Steven Millhauser’s Martin Dressler,1 tells the story of Martin Dressler, an entrepreneur in the late Nineteenth century in New York City. Dressler makes his fortune in real estate, designing and constructing ever larger and more grandiose buildings in different areas of Manhattan.2 Each construction project is intended to be a statement about both design and technology and about employing what were then-emerging technologies such as electricity, in ways that provided inhabitants with an amazing array of resources in one place.3 His career culminates with a project he calls the Grand Cosmo, the most spectacular building ever built and described by an architecture critic as follows:
77 citations
TL;DR: Wang et al. as discussed by the authors discuss various issues involved in Chinese shadow banking, including the type, size, risk, and reasons behind the growth of this market, and suggest that policymakers have to implement financial reforms to incorporate this informal market into the formal one so as to exercise better control and monitoring.
77 citations