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The existence of complex clauses in the Amazonian language Pirahã has been controversially debated. We present a novel analysis of field data demonstrating the existence of complex clauses in Pirahã. The data concern the tone of the morpheme 'sai' and stem from a field experiment where a second language speaker of Pirahã presented sentences and Pirahã speakers were asked to correct them saying the correct sentence alound. The experimental items contained the morpheme 'sai' in two different clausal environments: a nominalizer and a conditional environment according to Everett's 1986 description. Our phonetic analysis shows an effect clausal clausal environment on the pitch of 'sai'. The native Pirahã speakers pronounced conditional 'sai' with lower pitch than nominalizer 'sai'. We show furthermore that the experimenters pitch on 'sai' shows the opposite pattern from that of the native Pirahã speakers and hence the Pirahã's pitch could not just have been copied. The effect of the clausal environment on the tone of 'sai' can be explained by a complex clause analysis of Pirahã, while existing alternative proposals do not explain the difference.
Discussions of the international dimension of the global economic crisis have frequently focused on the build-up of large current account "imbalances" since the mid-1990s. This paper examines the extent to which the U.S. current account can be understood in a purely real open-economy DSGE model, were agents' perception of long-run growth evolves over time in response to changes in productivity. We first show that long-run growth forecasts based on
ltering actual productivity growth comove strongly with survey measures of expectations. Simulating the model, we
nd that including data on U.S. TFP growth and the world real interest rate can, under standard parametrizations of our model, explain the evolution of the U.S. current account quite closely. With household preference that allow positive labor supply e¤ects after favorable news of future income, we can also generate output movements in line with the data.
Recent empirical research suggests that measures of investor sentiment have predictive power for future stock returns over the intermediate and long term. Given the widespread publication of sentiment indicators, smart investors should trade on the information conveyed by such indicators and thus trigger an immediate market response to their publication. The present paper is the first to empirically analyze whether an immediate response can be identified from the data. We use survey-based sentiment indicators from two countries (Germany and the US). Consistent with previous research we find there is predictability at intermediate time horizons. For the US, however, the predictability all but disappears after 1994. Using event study methodology we find that the publication of sentiment indicators affects market returns. The sign of the immediate response is the same as that of the predictability over the intermediate term. This finding is consistent with the idea that sentiment is related to mispricing, but is inconsistent with the idea that the sentiment indicator provides information about future expected returns.
We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively explaining: (i) the higher saving rates of the rich, (ii) the higher fraction of personal wealth held in stocks by the rich, and (iii) the higher volatility of consumption of the wealthier. On the contrary, time-variant "keeping-up with the Joneses" weighted average consumption playing the role of moving benchmark subsistence consumption gives the same portfolio composition and saving rates across the rich and the poor, failing to reconcile the model with what micro data say.
Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income and Program Participation for the period 1996-2006, we find that especially households with low net worth maintain a larger share of their wealth as home equity if a larger homestead exemption applies. This home equity bias is also more pronounced if the household head is in poor health, increasing the chance of bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house tenures, and younger household heads, which taken together reflect households that face more financial uncertainty.
This European Policy Analysis discusses the need to strengthen the institutions underpinning the euro and makes several policy recommendations. The Stability and Growth Pact must be reinforced, have greater automaticity and entail graduated sanctions. Fiscal surveillance must be improved through the establishment of a European Fiscal Stability Agency. Finally, the European Financial Stability Facility must be made permanent.
How to be a good European...
(2010)
Unter der Überschrift "Ich kaufe griechische Staatsanleihen weil..." sollten Persönlichkeiten aus Politik, Wirtschaft und Kultur kurz begründen, warum sie griechische Staatsanleihen gekauft haben bzw. kaufen werden--idealerweise unter Nachweis ihres finanziellen Engagements. Zum jetzigen Zeitpunkt kaufe ich keine griechischen Staatsanleihen...
At the upcoming G20 meetings the issue what can be done to avoid a repetition of the current deep financial crisis will again be debated. Much attention and criticism will be directed to central banks. That is unavoidable: central banks must never again permit the development of financial imbalances that are large enough to lead to the collapse of major parts of the financial system when they unwind. In the future, policy makers must “lean against the wind” and tighten financial conditions if they perceive that imbalances are forming, even if there is little hard data to rely on. And they must be mindful that the costs of acting too late can dwarf those of acting too early.
The European Commission's Green Paper "Audit Policy: Lessons from the Crisis" raises 38 questions regarding how the audit function could be enhanced in order to contribute to increased financial stability. The authors comment on these 38 questions, arguing that the general level of audit quality can be enhanced by extending the duties of care and by tightening the regulations on liability.
This paper explores the various personal and intellectual links between Edmund Husserl, Rudolf and Walter Eucken. Our interdisciplinary approach gives an insight into Husserl’s transcendental phenomenology, Walter Eucken’s Ordoliberalism as well as in the interdependency between phenomenology and economics for which Rudolf Eucken’s philosophy of intellectual life plays an important role. Particular affiliations between phenomenology and economics can be found in the following topics: epistemology, the idea of man, the comprehension of liberty and the importance of legal or social orders, institutional rules and frameworks of regulations.
2008/9 sees the 60th anniversary of the German economic and currency reform of June 20, 1948, and the adoption of the Grundgesetz on May 23, 1949, which committed the country to the ideals of a socially committed market economy. Both of these events are important points along the path taken by the Federal Republic of Germany to reach the system of a social market economy. Since the term, Social Market Economy is often used in several different contexts and sometimes to mean contradictory things, we must ask: what exactly does the term social market economy entail? What economic-ethical ideas and theories are behind it? This paper will trace the origins of the social market economy (chapter 2) and explain the central characteristics of the Freiburg School of Economics (chapter 3), one of the main pillars of the social market economy. Central to this paper is the oeuvre of Walter Eucken, one of the leading representatives of the ordoliberal Freiburg School. The aim is to identify socio-political factors of influence and inspiration on his theory of economic policy (chapter 4) and evaluate similarities to the works of Kant, Smith and other economic philosophers. Chapter 5 will seek to elucidate Eucken’s “Program of Liberty”. We shall also allow ourselves a slight diversion to elaborate on the parallels between this work and Kant’s understanding of freedom and autonomy. Chapter 6 deals with Eucken’s dual requirements of an economic and social order (i.e. functioning and humane socio-economic order). In chapter 7, we seek to answer – with considerable reference to Adam Smith – to what extent it can be assumed that self-interest and the common good are mutually compatible. This paper concludes with a few remarks about the topicality of ordoliberalism in relation to modern, German-speaking economic ethics (chapter 8).
Nusa Tenggara Timor, a south-eastern province of Indonesia, is populated mainly by Christians. The Alor-Pantar Archipelago has a majority of Protestant inhabitants who were baptized by Dutch Calvinists in the first half of the twentieth century. In addition, there are some coastal enclaves that have been inhabited by Muslims for centuries. In some areas, such as in the headland of Muna (Tanjung Muna) forming the northeast of Pantar Island, there is an even greater diversity of monotheistic religions, with some Catholic families living next to Protestants and Muslims. All adherers of the three religious faiths living at Tanjung Muna share core elements of the local adat, which consists of core rules relating to social behavior. It is believed that the ancestors will notice transgressions of these rules, and may use their supernatural power to punish their human descendants. In Indonesia, the term adat was first used by Muslims to distinguish the non-Islamic practices from Muslim faith (Keane 1997:260-261). This is definitely not the case in the village of Pandai at the coast of Tanjung Muna, where Islam tolerates ancestral worship. The same is true for the Catholics in the inland village of Helangdohi, who do not only tolerate but even support such customs. Some villagers from Helangdohi had become acquainted with this kind of Catholicism on the nearby island of Flores, where ancestral worship is encouraged by the missionaries of the Societas Verbi Divini (SVD). The attitude of Protestantism, at least in the Alor Archipelago, is quite the contrary of the permissive views held by Catholicism and Islam. In the 1930s the Protestant-Calvinist missionaries banned any kind of ancestral worship and destroyed most relics (Dalen 1928: Picture 1). These drastic measures demanded the disavowal of the ancestors, including the destruction of heirlooms and omitting of rituals.
The Birds of the Highlands of South-West Saudi Arabia and adjacent parts of the Tihama: July 2010
(2010)
The objective of the survey was to compare habitats and bird life in the Asir region, particularly Jebal Souda and the Raydah escarpment protected area of the Saudi Wildlife Commission, and adjacent regions of the tihama, with those observed in July 1987 (Jennings, et al., 1988). The two surveys were approximately the same length and equal amounts of time were spent in the highlands and on the tihama. A number of walked censuses were carried out during 2010 on Jebal Souda, using the same methodology as walked censuses in 1987, and the results are compared. Broadly speaking the comparison of censuses revealed that in 2010 there were less birds and reduced diversity on the Jebal Souda plateau, compared to 1987. However in the Raydah reserve the estimates of breeding bird populations compiled in the mid 1990s was little changed as far as could be assessed in 2010. The highland region of south-west Saudi Arabia, especially Jebal Souda, has been much developed since the 1987 survey and is now an important internal recreation and resort area. This has lead to a reduction in the region’s importance for terraced agriculture. These changes may be a contributing factor to changes in bird numbers on the plateau. Subsidiary tasks that arose during the 2010 survey were to help locate satellite tagged Bald Ibises Geronticus eremita from Syria which were transiting Saudi Arabia at the time. Secondly to search for the Asir subspecies of the Eurasian Magpie Pica pica asirensis, which is endemic to the south-west Saudi Arabia highlands, and is reported to be in decline. A separate team searching for the Bald Ibis located some individuals and one was found dead. Few Magpies were located and it seems clear that this very scarce bird has declined further in numbers in recent years. A number of interesting records of birds were obtained, especially on the tihama, where two new birds for Saudi Arabia were observed, Black-headed Heron Ardea melanocephala and Painted Snipe Rostratula benghalensis and one species, Glossy Ibis Plegadis falcinellus was found breeding for the first time in the Arabian Peninsula. Some recommendations for the protection and management of the Raydah reserve are presented. A systematic list of all birds seen is provided.
During the period 24 May to 1 June 2010 observations were made of the flora, fauna and habitats of two study areas in the Rub al Khali in the Eastern Province of Saudi Arabia. Firstly the route of an existing pipeline, known as Shabab 1, which runs from the Jafurah desert south of Abqaiq to a point 211 km west of the Shaybah oil field, a distance of 422 km. Secondly the Shaybah oilfield area (administered by Saudi ARAMCO), paying particular attention to the sites listed at paragraph 6. (See also the map at Fig. 1.) In the following paragraphs the two sites are often identified simply as Shabab and Shaybah.
"Since the events of the eighteenth century, in particular the French and American Revolutions, the concept of revolution has become one of the most important, and most widely used, concepts of modern political and philosophical thought. The revolutions of the eighteenth century are, however, also marked by a temporal logic that questions their radical departure from the past, both intellectually and practically. Indeed, the concept of revolution is often coupled with a renewed interest in ideals of human self-conception, moral beauty and education that are seen as having emerged in the classical antiquity of Greece and Rome. On both sides of the Atlantic, references to classical antiquity support contemporary achievements, on the one hand, and are used to question the existing state of political and intellectual affairs, on the other."
Indo-European is a branch of Indo-Uralic which was radically transformed under the influence of a North Caucasian substratum when its speakers moved from the area north of the Caspian Sea to the area north of the Black Sea (cf. Kortlandt 2007b). As a result, Indo-European developed a minimal vowel system combined with a very large consonant inventory including glottalized stops, also grammatical gender and adjectival agreement, an ergative construction which was lost again but has left its traces in the grammatical system, especially in the nominal inflection, a construction with a dative subject which was partly preserved in the historical languages and is reflected in the verbal morphology and syntax, where it gave rise to new categories, and a heterogeneous lexicon. The Indo-Uralic elements of Indo-European include pronouns, case endings, verbal endings, participles and derivational suffixes. In the following I shall give an overview of the grammar of Proto-Indo-European as it may have been spoken around 4000 BC in the eastern Ukraine, shortly after the ancestors of the Anatolians left for the Balkans (for more recent developments I refer to Beekes 1995).
Do you know what I think? asks Adrian Leverkuehn. "Musik ist die Zweideutigkeit als System." Music is Janus-faced by its very nature. It can move and paralyze. "What passion cannot music raise and quell," exclaims John Dryden in his Song for St. Cecilia's Day, 1687. Music is an expert in the use of opiates, asserts Settembrini in The Magic Mountain, and Nietzsche speaks of her dual, intoxicating and befogging, nature. Shakespeare's Desdemona "will sing the savageness out of a bear" (IV, i) and the merchants in Novalis' Heinrich von Ofterdingen tell the story of another Orpheus whose song so charms a sea "monster" that it saves the singer's life and returns his treasure to him. John Dryden's Thimotheus "to his breathing flute and sounding lyre, could swell the soul to rage, or kindle soft desire" (Alexander's Feast, 1697). "Musica Consolatrix" and "Musica Tremenda". She is the "Mysterium tremendum et fascinosum" in Kleist's novella about the power of music. While English late 17th and early 18th century literature offers a particularly rich harvest of poetry celebrating the contradictory qualities, or effects, of music, there is in fact testimony to this at all stages of our tradition.
Music
(2010)
The musical ending [of Goethe's Novelle] recalls the fascination with "music as metaphor", "the power of music", among recent and contemporary poets from Pope and Dryden and Collins to E.T.A. Hoffmann and Kleist and, of course to Goethe himself. Music saves Faust's life on Easter morning at the end of a dreadful night, and we'll encounter a similar role of music in his Trilogie der Leidenschaft which we'll read in this context.
A single mother and her grown children. A team now. The fathers have come and gone and are barely remembered. These are her children. By contrast, Matthew (27; 56) identifies an anonymous woman as "the mother of Zebedee's children." We'll talk about it, for what it may mean. More important is the fact that this group is headed by a dominant female. Let's see if it makes a difference. Demian, as you'll remember, was the product of matriarchy, as it were, and seemed to be none the worse for it. It wasn't even worth mentioning. Fifty years later, Edgar Wibeau of Plenzdorf's The New Sorrows of Young W. (1972), a modern version of Goethe's bestselling novel Werther written 200 years earlier, and one of the most brilliant pieces of theatre post-Brecht, does find it worth mentioning. He is "sick & tired" of being paraded as living proof that "a single mother can successfully raise a male."
At the beginning of The Judgment, we find Georg Bendemann, who has just finished a letter to his friend in Russia, reliving once more the agonizing decision to write the letter in the first place. The decision had not been easy. Like many of Kafka's characters, Georg Bendemann is obsessed with the idea of analysis, with the painstaking exploration of all sides of a given issue. "What could one write to such a man without hurting him?" had been the question. "On the other hand, by writing only casual gossip or not at all one would doubtless increase the friends isolation" had been the counter-argument. What follows now is an exercise in looking at alternatives that spawn new alternatives that leaves the reader dazzled. Each conclusion is in turn explored to its possible opposite implications, which are in turn qualified, which leads to more questions followed by more partial conclusions plus qualifications thereof. The process could continue ad infinitum, in fact, has gone on for years--we are merely presented with a condensed version of it.