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Calming the Storms The Carry Trade, the Banking School and British Financial Crises Since 1825 - Original PDF
Calming the Storms The Carry Trade, the Banking School and British Financial Crises Since 1825 - Original PDF
نویسندگان: Charles Read خلاصه: But this long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again. —J. M. Keynes, ‘A Tract on Monetary Reform’ in Collected Writings of John Maynard Keynes, IV (Cambridge: CUP, 2013) p. 65.1 The quotation from John Maynard Keynes’ A Tract on Monetary Reform (1923), that ‘in the long run we are all dead’, is probably the most misunderstood in economics. It is often naively assumed to be a carpe diem defence of Keynesian deficit financing during a downturn. That is, ‘care about the recession we’re in now, rather than about the long-term cost of borrowing’; or ‘recklessly enjoy the present and let the future go hang’.2
Seasonal Adjustment Without Revisions A Real-Time Approach - Original PDF
Seasonal Adjustment Without Revisions A Real-Time Approach - Original PDF
نویسندگان: Barend Abeln · Jan P. A. M. Jacobs خلاصه: Preface In the 1980s, the first author was asked for information about profit prospects of a number of companies, in order to predict the change of their prices on the stock market. He looked up annual reports and recent interim results of these companies and noted that interim results consisted largely of a comparison of recent quarterly results to those of the same quarter of the preceding year. Moreover, stock prices reacted instantly to the outcomes of these comparisons. He was struck by the fact that these outcomes were frequently predictable: If there had been an up or down in the preceding year’s quarterly result, this would affect the comparison to the recent quarter. If last year’s ups or downs had been large, such as a profit on the sale of a construc- tion, or a depreciation of goodwill, these would be referred to in the comparison of the present quarterly report and would not come as a surprise and have little or no impact on stock prices. But if the market had become used to rising quarterly profits of Company X to the tune of say 1% over the preceding year, then an increment of ‘only’ 0.5% in the recent quarter would have a negative impact on the stock prices. Yet, this slight reduction in the profit’s increment may have its cause not in the present quarter, but in the preceding year or in the preceding few quarters. But then it is predictable
Postal Strategies Logistics, Access, and the Environment - Original PDF
Postal Strategies Logistics, Access, and the Environment - Original PDF
نویسندگان: Pier Luigi Parcu · Timothy J. Brennan · Victor Glass خلاصه: With continuously growing e-commerce with its increased demand for fast delivery, various e-commerce players have decided to enter this market to improve both efficiency and effectiveness of the service. Vertically integrated digital market- places’ business models, however, raise the concerns of competition and regulatory authorities across the world because of the anti-competitive behaviours they might facilitate. The paper discusses motivations behind and potential implications for competition of the logistic choices in last-mile delivery of important e-commerce platforms, providing a comparison between Amazon, Alibaba and Allegro
Default Nudges by Patrik Michaelsen · Cass R. Sunstein - Original PDF
Default Nudges by Patrik Michaelsen · Cass R. Sunstein - Original PDF
نویسندگان: Patrik Michaelsen · Cass R. Sunstein خلاصه: Abstract One of the most widely used nudges, and one of the most effective, is the default rule. A default rule works by designating one course of action as the default; it establishes what will happen unless the decision-maker actively makes a change. Why are defaults so effective, in areas that include savings, health care, and air pollution? The answer is that they tap into at least three different psychological mechanisms. On a policy level, defaults, like other nudge interventions, typically benefit from being cheap and easy to implement, resulting in a highly cost-effective way of inducing behavior change. This has made nudging a popular tool for businesses and government
Pandemic and the City - Original PDF
Pandemic and the City - Original PDF
نویسندگان: Mehmet Güney Celbi ̧s · Karima Kourtit · Peter Nijkamp خلاصه: The recent COVID-19 experience has left deep traces in the urban fabric and has prompted a re-orientation regarding the future of cities. Is an urban overhaul on the way? And will digital technology erode conventional urban agglomeration advan- tages? The socioeconomic impacts of the pandemic will definitely leave their mark on cities. For example, the digital divide has already become more apparent regarding equitable access to education or to virtual libraries. Furthermore, climate change will have a stronger influence on cities than in the past, given that avoiding close indoor activities or reducing dense concentrations of people may become commonplace. For example, operating restaurants with outside dining areas or organizing open-air activities which allow safe social distancing will face new challenges in cities, in particular in places where weather conditions may become less favorable
Global Cooperation and G20 Role of Finance Track - Original PDF
Global Cooperation and G20 Role of Finance Track - Original PDF
نویسندگان: Saon Ray · Samridhi Jain · Vasundhara Thakur · Smita Miglani خلاصه: The realisation that emerging economies were becoming systematically important dawned on the major advanced economies with the Asian and Russian financial crises of the late 1990s, and hence, the necessity was felt for a larger forum than the G7 encompassing the emerging economies. The Group of Twenty Countries (G20) was launched as a forum of the finance ministers and Central Bank governors primarily to address the challenges to international financial stability that had begun in Asia in 1997. The need was felt for a “permanent forum” for informal dialogue between developing and developed countries in the G20. The need for the inclusion of major emerging economies in discussions on the international financial system was underlined by the global financial crisis of 2008. A platform was created where leaders of systemically important countries resolved to coordinate macroeconomic policies to counteract the global financial crisis. In turn, they analysed the deeper, underlying causes of the financial crisis. This chapter introduces and motivates the book and discusses the rationale behind the formation of the G20. It discusses the background of the G20, the role of G7 and G8, and discusses the organisation of the book in the chapters that follow
The Problem of Property Taking the Freedom of Nonowners Seriously - Original PDF
The Problem of Property Taking the Freedom of Nonowners Seriously - Original PDF
نویسندگان: Karl Widerquist خلاصه: CHAPTER 1 Introduction As I went walking, a sign stopped me. On the one side, it said “No Trespassing.” But on the other side, it didn’t say nothing. That side was made for you and me. ... This land was made for you and me. —Woody Guthrie, “This Land Is Your Land” as covered by Remember Alice?1 Any conception of a right—whether legal or natural—has to be recip- rocal in the relevant ethic respect. A nonreciprocal “right” is merely a privilege. A right of self-ownership at least prima facie passes this test. It amounts to saying accept my ownership of my body as I respect your ownership of your body. The highly unequal ownership system that prevails in external assets (i.e., property in anything outside of our living bodies) prima facie fails this test in at least two ways. First, it gives one group control over resources essential to everyone’s survival and therefore, forces the propertyless group to perform services for the property-owning group to survive. Second, it amounts to saying, “You should respect my property for I would respect yours if you had any.
HCI International 2022 – Late Breaking Posters - Original PDF
HCI International 2022 – Late Breaking Posters - Original PDF
نویسندگان: Constantine Stephanidis, Margherita Antona, Stavroula Ntoa, Gavriel Salvendy خلاصه: 4 P. Asghari et al. 1 Introduction Eye tracking (ET) is frequently used, for example, in behavioral research and human-computer interaction. Eye movement patterns can reveal detailed infor- mation about the user’s cognitive processes, their attention level, or decision- making processes [3,12]. Applications and research based on ET require reliable and robust data [9]. Traditionally, this requires dedicated hardware with high- resolution cameras and infrared illumination to detect corneal reflections [7]. However, dedicated hardware is expensive and thus limits the pervasive use in real-world applications. This situation may change since, propelled by recent advances in deep learning, appearance-based gaze estimation methods that deliver promising results based on low-cost consumer-grade camera inputs start to emerge [2,10,11,21]. These approaches learn to estimate gazes from a video stream based on large-scale data sets and provide 3D gaze vectors or correspond- ing 2D gaze locations on a screen. Furthermore, they do not require any specific external devices and can be used with standalone computers, laptop built-in webcams, or mobile device consumer-grade cameras. This opens up the possi- bility of developing affordable automated intelligent ET solutions for research, commerce, and the general public. On the way to realize this ambition, webcam ET (wcET) has to address several challenges including gaze estimation accu- racy, gaze estimator prediction time, and that gaze estimation quality can be affected by user movements [11]. This paper aims to contribute to the first step toward utilizing wcET as a low-cost pervasive technology by validating the data quality of a state-of-the-art wcET approach in comparison to the performance of an established, commercially available dedicated eye tracking (dhET) system. Accordingly, we address the following research question in our work: How does the gaze estimates of wcET differ from dhET in practical settings regarding accu- racy, precision, and sampling rate? We will further discuss how the limitations of the data quality may affect the performance of wcET applications
50 Literacy Strategies Step by Step Fourth Edition - Original PDF
50 Literacy Strategies Step by Step Fourth Edition - Original PDF
نویسندگان: Gail E. Tompkins خلاصه: Young children write “All About . . .” books on familiar topics (Tompkins, 2012). They put together a booklet with four or five pages, write a sentence or two on each page, and add illustrations to elaborate the information presented in the text. Stu- dents read the book to the teacher, who helps them elaborate ideas and correct mechani- cal errors before they share from the author’s chair (see p. 10). As they gain experience writing books with one or two sentences per page, students can expand and elaborate the information they share on each page, gradually increasing the length to a paragraph
The Man Who Understood Democracy - Epub + Converted PDF
The Man Who Understood Democracy - Epub + Converted PDF
نویسندگان: Olivier Zunz خلاصه: Go back in time. Examine the babe when still in its mother’s arms. See the external world reflected for the first time in the still-dark mirror of his intelligence. Contemplate the first models to make an impression on him. Listen to the words that first awaken his dormant powers of thought. Take note, finally, of the first battles he is obliged to fight. Only then will you understand where the prejudices, habits, and passions that will dominate his life come from. In a manner of speaking, the whole man already lies swaddled in his cradle.1 Alexis de Tocqueville made these observations in Democracy in America to explain his rationale for studying America’s “point of departure.” Of course, the beginning is also where the biographer must start. For the young Tocqueville, that external world was dominated by figures from the highest military and administrative nobility of the Ancien Régime, survivors of the Revolutionary Terror, loyal to the exiled Bourbons, and dead set against the liberal views Tocqueville himself would eventually embrace. Presaging this divergence, Tocqueville displayed considerable independence of mind at an early age, and he repeatedly flouted expectations. At the same time, he developed the habit of casting doubt on much of what he did and saw

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