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Global Economic Challenges 6th International Conference on Banking and Finance Perspectives, Cuenca, Spain - Original PDF
Global Economic Challenges 6th International Conference on Banking and Finance Perspectives, Cuenca, Spain - Original PDF
نویسندگان: Nesrin Özataç • Korhan K. Gökmenoğlu Daniel Balsalobre Lorente Nigar Taşpınar • Bezhan Rustamov خلاصه: Price movements in the energy market are crucial because energy plays a vital role in the world’s economies and human life. The high volatility in energy prices since the 1990s is due to several historical developments, including the deregulation of energy markets, the Asian financial crisis in 1997, and the 2008 global financial crisis (Lien et al., 2016; Lang & Auer, 2019) have increased the need for an appro- priate protection strategy. Hedging by using futures contracts makes the problem of “finding an appropriate hedge ratio” vital. In calculating the optimal hedge ratio (OHR), estimations are mostly based on the average (expected) relationship between spot and futures prices. This approach ignores the tail distribution of the variables (Lien et al., 2016; Shrestha et al., 2018). However, the widely documented non- normal distribution of financial variables makes considering the quantiles of the variables essential. To fill this gap, we used the recently developed quantile-on- quantile (Q-Q) (Sim & Zhou, 2015) approach to estimate the minimum-variance (MV) hedge ratio for crude oil, natural gas, and gasoline markets. Besides, to have a better understanding of the relationship between these variables, we examined long-run and causal relationships by using methods that consider the distribution of the variables.
Environmental Regulations and Industrial Competitiveness Case Studies of Toxic Industries in Southern California - Original PDF
Environmental Regulations and Industrial Competitiveness Case Studies of Toxic Industries in Southern California - Original PDF
نویسندگان: Ward Thomas • Paul Ong خلاصه: 1 Chapter 1 Environmental Regulations and Industrial Competitiveness Abstract Industries in the U.S. emit billions of pounds of toxic chemicals into the environment every year, resulting in a major risk to human health. Many economists and policy makers, however, are strongly opposed to environmental regulations based on an assumption that regulations lead to a loss of jobs and a declining stan- dard of living for U.S. citizens. The empirical literature on this question has pro- duced mixed results, and this chapter critically assesses several conceptual and methodological issues that are embedded in this literature. Our thesis is that strin- gent environmental regulations have the potential to effectively and efficiently reduce toxic emissions from polluting firms and industries while having a negligible impact on the economic competitiveness of firms and industries. We investigate this thesis through three empirical case studies of polluting industries in Southern California that are highly regulated by the South Coast Air Quality Management District (AQMD): metal finishing, wood furniture, and dry cleaning. We also attempt to reveal the institutional process by which firms comply with environmen- tal regulations. Keywords Environmental regulations · Economic competitiveness · Environmental pollution · Economic externalities · Market failure · Environmental compliance · Technological uncertainty · Innovation · Adoption Introduction Over the last half century, the US federal government has played an active role in regulating the emission of toxic chemicals from polluting firms and industries (Rosenbaum, 2019; Telsey, 2016). Congress passed the Clean Air Act of 1970 “to protect and enhance the quality of the nation’s air resources so as to promote the public health and welfare and the productive capacity of the population” (US Environmental Protection Agency, 2007, p. 2). Congress also created the EPA (Environmental Protection Agency) in 1970 to implement and enforce the nation’s environmental law
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
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
Regulation of Cryptocurrencies and Blockchain Technologies National and International Perspectives Second Edition - Original PDF
Regulation of Cryptocurrencies and Blockchain Technologies National and International Perspectives Second Edition - Original PDF
نویسندگان: Rosario Girasa خلاصه: Uncovers the key actors in digital technology while showcasing the benefits and risks of digital currencies Takes a critical look at the most up-to-date federal, state, and international regulation of virtual currency Explores the creation of stablecoins and governments issuance of their own versions of digital currencies
AN INTRODUCTION TO PERFORMANCE ANALYSIS OF SPORT - Original PDF
AN INTRODUCTION TO PERFORMANCE ANALYSIS OF SPORT - Original PDF
نویسندگان: PETER O’DONOGHUE خلاصه: This introductory chapter introduces sports performance analysis by asking the following questions: What? Why? Who? Where? When? and How? What is sports performance analysis? What are sports performance data and information? Why do we analyse sports performance? Who analyses sports performance? Where is sports performance analysis done? When is sports performance analysis done? How is sports perform- ance analysis done? The answers to these questions are not independent. The reason why sports performance analysis is done and who requires the information can dictate what information is required. The informa- tion required can in turn influence when it is needed and thus when sports performances should be analysed. The time at which information is needed and economic constraints dictate the methods and locations of sports performance analysis tasks. These questions will be answered in turn but readers can expect some necessary overlap between the answers.
Assistive Technologies and Environmental Interventions in Healthcare - Original PDF
Assistive Technologies and Environmental Interventions in Healthcare - Original PDF
نویسندگان: Lynn Gitlow, Kathleen Flecky خلاصه: The changes we have all seen in technology and corre spondingly with assistive technology in the past 10 years are mind‐boggling. Futurist and inventor Ray Kurzweil (2000) stated early in the twenty‐first century that com puters are 100 million times more powerful than they were 50 years ago. The exponential growth of computer capacity that Kurzweil and others predicted in the late 1990s continues to advance and has the potential for improving all aspects of life (Diamandis and Kotler 2014). These exponential changes in technology make it hard to keep up with the latest innovations. For example, one of the chapter authors worked in an assistive technology laboratory in which serial port add‐ons to computers evolved into Universal Serial Bus (USB) ports rendering the former connections and their attachments obsolete within in less than five years. Currently, com puters no longer come with disk drives and all of the software one needs to load on the computer comes from the cloud. Vicente (2006) stated, “... more and more technology is being foisted upon us at a faster and faster pace” (p. 13). In addition, technology is clearly a necessary part of our lives. For many of us, it is difficult to remember a time when cell phones, laptops, or navigation devices were not available to those who could afford it. Furthermore, the convergence of multiple technologies into a single, small, handheld device such as a smart phone is common as part of our work and personal experiences
Bodily Subjects Essays on Gender and Health, 1800–2000 - PDF
Bodily Subjects Essays on Gender and Health, 1800–2000 - PDF
نویسندگان: racy Penny Light, Barbara Brookes, and Wendy Mitchinson خلاصه: Constant good health is a chimera: the thing we all want, don’t notice when we have it, and mourn when we lose it. Being “healthy” is also something that women and men “do” in different ways. 1 The authors in Bodily Subjects all explore the historical entanglement between gender and health to expose how women and men “did” health in a variety of locations, from the nineteenth-century English Poor Law Union of Stourbridge, an early twentieth-century Aboriginal reserve in Queensland, Australia, to A I D S activists on the streets of Toronto in the 1990s. Our volume takes as its subject how gender is integral to the understanding of health and the way its meaning is embedded in cul- tural contexts connected to place and time. Our title reflects the way in which the body is both a subject of inquiry and a phenomenological experience. There is no “I” without a body and that body, Foucault has argued, is subject to regimes of power. 2 The title, Bodily Subjects, then, should be read in two ways. First, it re- fers to the embodied meanings of health for men and women and how these have expanded over time, from an able body signifying health in the nineteenth century to concepts of “well-being,” a psychological interpretation, which came to dominate health discourse in Western countries by the late twentieth century. Second, it refers to the way in which ill health turns individuals into subjects of the medical gaze. Medical expertise is brought to bear in diagnosing and treating indi- viduals in ways that are seen through the lens of gender
Comminution 1994 Proceedings of the 8th European Symposium on Comminution and 50th Event of the European Federation of Chemical Engineering, May 17-19, 1994 Stockholm, Swede - PDF
Comminution 1994 Proceedings of the 8th European Symposium on Comminution and 50th Event of the European Federation of Chemical Engineering, May 17-19, 1994 Stockholm, Swede - PDF
نویسندگان: K. Schönert خلاصه: Particle arrangements and confinements can be classified in the four groups (1) single particle situation, (2) one-particle layer, (3) particle bed confined closely or widely, and (4) ideal particle bed. Any confinement influences the stress distribution inside the bed due to the wall friction, and a complex stress field arises. The size-reduction effect is represented with the fraction of broken particles, the breakage function and the specific surface increases. The breakage functions of the particle bed comminution display as truncated logarithmic normal distributions. The stressing intensity can be quantified by the pressure, the stress field characteristics or the energy absorption. Although the stress field situation can differ extremely, the overall energy absorption has been proven to represent the stressing intensity very well in respect to the size-reduction. The transition from a close to a moderately wide confinement does not affect the size-reduction strongly. Steel balls inserted in a particle bed improve the breakage of coarse particles at a low intensity level. This advantage fades with increasing intensity and decreasing particle size.
Ecologies of Socialisms - Original PDF
Ecologies of Socialisms - Original PDF
نویسندگان: Germany, Nature, and the Left in History, Politics, and Culture خلاصه: Eli Rubin and Scott Moranda Introduction Is Germany the “Greenest nation” as Frank Uekötter has provocatively asked?1 Forget the Berlin Wall, forget the Cold War, World War II, the Nazis, the Holocaust, the Kaiserreich, and forget the storied history of the Social Democratic Party – the SPD. Germany is now the nation of separated trash, solar panels and wind power. The only Wende people talk about now, in relation to Germany, is the Energiewende. And perhaps, that is part of the point. The Energiewende provides for a national identity that generates warm, positive press and seemingly avoids the more divisive and troubling aspects of past markers of Germanness. Even if the reality of the “greenest nation” is more complicated, it is undeniable that Germany has been at the center of the global history of environmentalism. Scientific conservation had deep roots among the forest- ers, urban planners, and other technical experts of Wilhelmine Germany who had outsized influence on Progressive reformers in the United States and British civil servants across their Empire.2 German-speakers also shaped Romanticism, ecology, and notions of holistic interconnectedness, most importantly in the figure of Alexander von Humboldt, whose Kosmos had a global influence.

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