Some argue that strong linkages between countries are not necessarily contagion, and that contagion should be defined as an increase in cross-market linkages after a shock to one country, which is very hard to figure out by both theoretical model and empirical work. Also, some scholars argue that there is actually no contagion at all, just a high level of market comovement in all periods, which is market "interdependence."
More generally, there is controversy surrounding the usefulness of "contagion" as a metaphor to describe the "catchiness" of social phenomena, as well as debate about the application of context-specific models and concepts from biomedicine and epidemiology to explain the diffusion of perturbations within financial systems.
Read more about this topic: Contagion Effect
Other articles related to "controversy":
... John Walsh generated a great deal of controversy during a summer press tour in 2006 when he stated to the media he jokingly told senators to implant "exploding" chips in the anuses of sex offenders ...
... In December 2009, a Chicago Tribune story reported on the problem facing eastern sections of Uptown where several nursing homes clustered in the area house the mentally ill, including felons ... Many of these residents have committed a variety of serious crimes including murder, and 11 nursing homes in the area house 318 convicted felons and 1350 mentally ill people ...
... on the part of the disputants - as in Benford's law of controversy ... For example, in the political controversy over anthropogenic climate change that is prevalent in the United States - it has been thought that those who are opposed to the scientific consensus did so because of a ... of opinions - exactly as described in the global warming controversy context - in spite of identical evidence presented, the pre-existing beliefs (or evidence presented first) has an overwhelming effect on the ...
... Napolitano was the subject of controversy after a Department of Homeland Security threat assessment report, one of two reports, the other focused on left wing extremism that was ... downturn beginning in 2008, the abortion controversy, and disgruntled military veterans' possible vulnerability to recruitment efforts by extremist groups as potential risk factors regarding right-wing ...
Famous quotes containing the word controversy:
“Ours was a highly activist administration, with a lot of controversy involved ... but Im not sure that it would be inconsistent with my own political nature to do it differently if I had it to do all over again.”
—Jimmy Carter (James Earl Carter, Jr.)
“And therefore, as when there is a controversy in an account, the parties must by their own accord, set up for right Reason, the Reason of some Arbitrator, or Judge, to whose sentence, they will both stand, or their controversy must either come to blows, or be undecided, for want of a right Reason constituted by Nature; so is it also in all debates of what kind soever.”
—Thomas Hobbes (15791688)