The Other Side of Peirce's Phaneroscopy

Research on Peirce’s phaneroscopy has been done with and through the paradigm or the conceptual schema of “Being” — what has been critiqued by post-structuralist philosophers as the metaphysics of Being. Thus, such research is either limited to attempts to define “phaneron,” or to identify whether there is a particular and consistent meaning intention behind Peirce’s use of this term. Another problematic characteristic with such a way of engaging with phaneroscopy is the very anonymity of the schema of “Being.” While all scholars admit to the universality of “phaneron,” rarely, if ever, do we see an account of how such universality can be instantiated. In this paper, I attempt to engage with phaneroscopy differently. Instead of presenting a better version of what phaneroscopy is, or making arguments about what is the case with phaneroscopy, both of which are ways of philosophising with “being,” I attempt to enact phaneroscopy. This would mean to undertake to follow Peirce’s instructions for the phaneroscopist and report the findings. Based on the latter, I shall analogise phaneron with the possibility of understanding

Liquidity effects due to information costs from changes

In this paper we examine effect on the returns of firms that have been included to and deleted from the FTSE 100 over the time period of 1984-2001. Like the S&P 500 listing studies, we find that the price and trading volume of newly listed (deleted) firms increases (decreases). The evidence is consistent with the information cost/liquidity explanation. This is because investors hold stocks with more (less) available information, consequently implying that they have lower (higher) trading costs. This explains the increase (decrease) in the stock price and trading volume of newly listed (deleted) stocks to (from) the FTSE 100 List

Identification and Identifiability of non-linear IV/GMM Estimators

In this article, the identi¯cation of instrumental variables and generalised method of moment (GMM) estimators is discussed. It is common that representations of such models are derived from the solution to linear quadratic optimisation problems. Here, it is shown that even though the rank condition on the Jacobian and the instrument set is valid, that the transversality condition may not be satis¯ed by the estimated model. Further, acceptance of the transversality condition does occur when identi ¯cation fails or the forward model vanishes. As a result the parameters of such models irrespective of any correction for serial correlation may not be identi¯ed in a fundamental sense. This suggests that either forward looking models should be estimated directly or more complex non-linear restrictions should be imposed

Identifying asymmetric, multi-period Euler equations estimated by non-linear IV/GMM

In this article, the identification of instrumental variables and generalized method of moment (GMM) estimators with multi-period perceptions is discussed. The state space representation delivers a conventional first order condition that is solved for expectations when the Generalized Bézout Theorem holds. Here, it is shown that although weak instruments may be enough to identify the parameters of a linearized version of the Quasi-Reduced Form (Q-RF), their existence is not sufficient for the identification of the structural model. Necessary and sufficient conditions for local identification of the Quasi-Structural Form (Q-SF) derive from the product of the data moments and the Jacobian. Satisfaction of the moment condition alone is only necessary for local and global identification of the Q-SF parameters. While the conditions necessary and sufficient for local identification of the Q-SF parameters are only necessary to identify the expectational model that satisfies the regular solution. If the conditions required for the decomposition associated with the Generalized Bézout Theorem are not satisfied, then limited information estimates of the Q-SF are not consistent with the full solution. The Structural Form (SF) is not identified in the fundamental sense that the Q-SF parameters are not based on a forward looking expectational model. This suggests that expectations are derived from a forward looking model or survey data used to replace estimated expectations

Criterion and incremental validity of the emotion regulation questionnaire.

Although research on emotion regulation (ER) is developing, little attention has been paid to the predictive power of ER strategies beyond established constructs. The present study examined the incremental validity of the Emotion Regulation Questionnaire (ERQ; Gross and John, 2003), which measures cognitive reappraisal and expressive suppression, over and above the Big Five personality factors. It also extended the evidence for the measure's criterion validity to yet unexamined criteria. A university student sample (N = 203) completed the ERQ, a measure of the Big Five, and relevant cognitive and emotion-laden criteria. Cognitive reappraisal predicted positive affect beyond personality, as well as experiential flexibility and constructive self-assertion beyond personality and affect. Expressive suppression explained incremental variance in negative affect beyond personality and in experiential flexibility beyond personality and general affect. No incremental effects were found for worry, social anxiety, rumination, reflection, and preventing negative emotions. Implications for the construct validity and utility of the ERQ are discussed

UKIRT Widefield Infrared Survey for H2

We perform an unbiased search for outflows from YSOs along the Galactic Plane (GP). Our data has been taken as part of the UWISH2 survey (Froebrich et al. 2011). It uses as tracer the 1-0S(1) emission line of H2, and here we focus on a continuous 33 square degree sized region in Serpens and Aquila. We identify 130 outflows from which 94% are new discoveries. Thus, we increased the number of known MHOs by a factor of 15 in this area (Ioannidis & Froebrich 2012). The flux completeness limit for the flows is 3?10-18Wm-2. Typically, the known flows occupy the bright end of the flux distribution. Our survey thus increases the known integrated 1-0S(1) H2 flux from outflows only by a factor of two. We are able to assign possible driving sources to half of the outflows. Brighter MHOs are more likely to have a source candidate assigned to them

Mechanisms, counterfactuals and laws

In this chapter we examine the relation between mechanisms and laws/counterfactuals by revisiting the main notions of mechanism found in the literature. We distinguish between two different conceptions of ‘mechanism’: mechanisms-of underlie or constitute a causal process; mechanisms-for are complex systems that function so as to produce a certain behavior. According to some mechanists, a mechanism fulfills both of these roles simultaneously. The main argument of the chapter is that there is an asymmetrical dependence between both kinds of mechanisms and laws/counterfactuals: while some laws and counterfactuals must be taken as primitive (non-mechanistic) facts of the world, all mechanisms depend on laws/counterfactuals

Long-Range Dependence in Daily Interest Rate

We employ a number of parametric and non-parametric techniques to establish the existence of long-range dependence in daily interbank o er rates for four countries. We test for long memory using classical R=S analysis, variance-time plots and Lo's (1991) modi ed R=S statistic. In addition we estimate the fractional di erencing parameter using Whittle's (1951) maximum likelihood estimator and we shu e the data to destroy long and short memory in turn, and we repeat our non-parametric tests. From our non-parametric tests we And strong evidence of the presence of long memory in all four series independently of the chosen statistic. We nd evidence that supports the assertion of Willinger et al (1999) that Lo's statistic is biased towards non-rejection of the null hypothesis of no long-range dependence. The parametric estimation concurs with these results. Our results suggest that conventional tests for capital market integration and other similar hypotheses involving nominal interest rates should be treated with cautio

External financing of US corporations: Are loans and securities complements or substitutes?

“Multiple avenues of intermediation” (Greenspan 2000) suggest substitutability of corporate loan and bond finance which smooths external financing flows. Holmstrom and Tirole (1997) stress complementarity; for most firms bank finance and consequent monitoring is essential for bond finance. Econometric work based on their model is consistent with complementarity both on average over time and during financial crises, and for levels and volatilities. It implies that “multiple avenues” may not be effective as a buffer in a bank credit crunch, and hence supply-side blockages of bank credit may impact on real activity. There are important implications for regulation, not least Basel II