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: The existing facilities and infrastructure can be augmented with provision of material and professional assistance from other pathology associations in more developed countries and should, among other things, focus on supplementing residency education.
Abstract: Context.—Histopathology, like other branches of medicine in West Africa, has suffered largely from economic, political, social, and infrastructural problems, becoming a shadow of the top q...
51 citations
TL;DR: In this paper, the shadow money channel of monetary policy is studied and the authors find that shadow money, namely liquid deposits created by shadow banks, expands significantly when the Federal Reserve tightens monetary policy.
Abstract: This paper documents a new transmission channel of monetary policy: the shadow money channel. Analyzing U.S. money supply data from 1987 to 2012, I find that shadow money, namely liquid deposits created by shadow banks, expands significantly when the Federal Reserve tightens monetary policy. Using a structural model of bank competition, I show that this new channel is a result of imperfect competition between commercial and shadow banks in the deposit market with heterogeneous depositors. Due to a lack of a bank charter, shadow banks offer lower transaction convenience and hence must compete on yields. During periods of monetary tightening, shadow banks pass through more rate hikes to depositors, thereby poaching yield-sensitive deposits from commercial banks. Fitting my model to institution-level data from commercial banks and money market funds, I show that shadow money creation offsets 35 cents of each dollar in commercial bank deposit reductions, significantly dampening the impact of monetary tightening. My results suggest that monetary tightening may unintentionally drive more deposits into the uninsured shadow banking sector, thereby amplifying the risk of bank runs.
51 citations
TL;DR: This article investigated the relationship between formal schooling and shadow education and found that students in high-socioeconomic status (SES) schools are more likely to seek shadow education lessons than those in schools of lower SES.
Abstract: While shadow education, organized learning activities outside formal school, has grown greatly around the world, the relationship between formal schooling and shadow education has not been well investigated. This study is therefore intended to empirically test whether formal education’s structure (i.e. tracking) affects students’ shadow education participation by utilizing a nationally representative dataset consisting of 10th-grade students in Japan. Results of multilevel logistic regression analyses show school socioeconomic compositional and cross-level interaction effects on shadow education participation: students in high-socioeconomic status (SES) schools are more likely to seek shadow education lessons than those in schools of lower SES; and higher SES students tend to take shadow education lessons, especially when in high-SES schools. Additionally, the study finds that the school composition effect becomes relatively weak when extra lessons are free of charge, highlighting the importance of family...
51 citations
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TL;DR: Wang et al. as discussed by the authors developed a stylised shadow banking map for China with the aim of providing a coherent picture of its structure and the associated financial system interlinkages, revealing a marked shift in the relative importance of different shadow banking activities.
Abstract: We develop a stylised shadow banking map for China with the aim of providing a coherent picture of its structure and the associated financial system interlinkages. Five key characteristics emerge. One defining feature of the shadow banking system in China is the dominant role of commercial banks, true to the adage that shadow banking in China is the "shadow of the banks". Moreover, it differs from shadow banking in the United States in that securitisation and market-based instruments play only a limited role. With a series of maps we show that the size and dynamics of shadow banking in China have been changing rapidly. This reveals a marked shift in the relative importance of different shadow banking activities. New and more complex "structured" shadow credit intermediation has emerged and quickly reached a large scale, while the bond market has become highly dependent on funding channelled through wealth management products. As a result, the structure of shadow banking in China is growing more complex.
51 citations
01 Jan 2002
TL;DR: Using the currency demand and DYMIMIC approaches, estimates about the size of the shadow economy in 22 Transition and 21 OECD countries are presented in this article, showing that an increasing burden of taxation and social security contributions combined with rising state regulatory activities are the driving forces for the growth and size of shadow economy (labor force).
Abstract: Using the currency demand and DYMIMIC approaches estimates are presented about the size of the shadow economy in 22 Transition and 21 OECD countries. Over 2001/2002 in 21 OECD countries is the average size of the shadow economy (in percent of officia l GDP) 16.7% of “official” GDP and of 22 Transition countries 38.0%. The average size of the shadow economy labor force (in percent of the population of working age) of the year 1998/99 in 7 OECD-countries is 15.3% and in 22 Transition countries is 30.2%. An increasing burden of taxation and social security contributions combined with rising state regulatory activities are the driving forces for the growth and size of the shadow economy (labor force). JEL-class.: O17, O5, D78, H2, H26.
51 citations