... 1981 andthe Barometers. These are today the main sources for researchers within this area andthe number of countries for which the data is available rises every year. Yet, the validity ofthe ... sense; the more time passes the bigger the difference to the base year. In the case ofthe regional dummies, Europe is left out ofthe regression. The coefficients on Africa, Asia and South/Central ... presidencies. Furthermore, Bjørnskov points out that high trust countries like for example the Scandinavian countries andthe Netherlands have a rather peaceful political history and that their royal...
... country‟s balance of payments. The third review ofthe programme is expected to be completed by the end of January, 2011. 31. The programme has contributed to the stabilization ofthe economy, ... remarkable. For the first time in many years, thebalanceof payments registered a surplus of over USD100 million in the first nine months of this year, andthe projected surplus for the fiscal ... households and their profiles, housing conditions, school attendance, literacy and educational levels. The Census will also provide some ofthe data needed to assess progress on the six ofthe ten...
... intensification of them, are unavoidable.57 At the end of his treatment ofthe “Law ofthe Tendency ofthe Rate of Profit to Fall” in Part Three of Volume Three of Capital Marx links the rupture ofthe ... macro theory. The gross rate of profit is the ratio of interest plus rent plus the profit of industrial and commercial enterprises to invested capital. The net rate of profit is the ratio of industrial ... production and circulation. 26failure to comprehend the existence and significance ofthe theoretical articulation ofthe laws and tendencies ofthe rate of profit deduced from the sphere of production...
... 1988). The types of causal relations that connect actions to their agents on the one hand, and to the world on the other, go far beyond the level of physicaldescription, and we grow to understand ... intention. The little oneshad assumed an identity between their experience of their own desire and the likely experience ofthe other.Around three- to- four years of age this understanding of agency ... the infant in terms of thoughts, feelings and desires in the infant’s mind, and in their own mindin relation to the infant and his/her mental state, is the key mediator of the transmission of...
... through the privatelaw of contract. The next section considers the use ofthe private law toprotect consumers within the context ofthe market. It focuses on the role and limitations ofthe law of ... all the other victims will benefit without the need to bear the cost of the litigation. They will therefore be under an incentive to free ride on the actions of others. Secondly, if we value the ... Act 1977, andthe Unfair Terms in ConsumerContracts Regulations 1999, andofthe latter are found in inter alia the Sale of Goods Act 1979 andthe Supply of Goods and Services Act 1982. The Unfair...
... benefits during the lifetime ofthe intervention. 48|Addressing the Impact of Household Energy and Indoor Air Pollution on the Health ofthe PoorImplications for Policy Action and Intervention ... Pollution on the Health ofthe PoorImplications for Policy Action and Intervention Measures|9 42|Addressing the Impact of Household Energy and Indoor Air Pollution on the Health ofthe PoorImplications ... 2001.Addressing the Impact of Household Energy and Indoor Air Pollution on the Health ofthe PoorImplications for Policy Action and Intervention Measures|39 6.4 Estimates of Costs The estimation of costs...
... between the two offshore islands andthe mainland. As part of that expansion ofthe mini-three links, the Taiwanese government alsoexpanded the list of products that the offshore islands can ... total of 152,438 passenger trips between the offshore islands and FujianProvince, including 144,234 from the offshore islands to the mainland, and 8,200 from the mainland to the offshore islands ... the Office ofthe Secretary of Defense, the Joint Staff, the UnifiedCommands, the defense agencies, the Department ofthe Navy, the U.S.intelligence community, allied foreign governments, and...
... increasehasbeennotable,72Thisisnottodenysuccessfuleffortsbyanumber of countries,includingChina,toexpandmarketsinotherEME’s. Of coursethisstillleaves the broaderquestion ofthe robustness ofthe totality of thosemarketsin the event of aseriousdownturnin the AME’s.73ThisproblemisanalogoustothatfacedbyJapanesecorporationsin the 1990’s,aftermanyyears of debtfinancedinvestmentwhichprovedunprofitable.Koo(2003)stronglycontendsthat the weakness of investmentspendinginJapanin the 1990’swasduetothis balance sheeteffect”, and wasnotduetoashortage of loanscausedbyaweakenedbankingsystem.74SeeBIS(2012)p29forafullerdocumentation.AlsoseeMcKinsey(2010)whoidentify the householdsectorinfive ofthe fourteencountriestheyconsiderashavingahighprobability of futuredeleveraging.TheyidentifySpain, the US, the UK,Canada and Korea.While the householdsectorsinBrazil,Russia,China and Indiawerenotjudgedtobeoverleveraged,notethat the dataconsideredextendedonlyto2009.Thus the reportmissed the recentsharpincreasesinhouseholddebtlevelsinthosecountries. ... when106 The flattening of yieldcurveshasalreadyledtoanarrowing of interestspreads.SeeBankforInternationalSettlements(2012)TableVI.1107SeeBillGross(2012).Thisisparticularlyperniciousifitthwartslongertermlendingtofund the longerterminvestmentthatmanyAME’sreallyneed.108SeeMeyer(2012)109SeeHaddock and Barnes(2012).Theycontendthat,priorto2007,manyhighlyleveragedpropertydealsin the UKusedswapstominimize the risks of risingfinancingrates.Indeed,many of theseswapshadamaturitylongerthan the underlyingloanitself.Nowmany of thesedealsneedtoberestructured,butlow policy rateshaveraised the cost of breaking the swaptoprohibitivelevels.Thisisanotherexample of howlow policy ratescanimpede the purging of malinvestmentsin the downswing ofthe creditcycle.110Theseareverysimilarto the implicationsforpensionfundswhichwerediscussedabove.111Dickson(2001)112Antolinetal(2011),Frenchetal(2011),Standard and Poors(2011) and Ramaswamy(2012) ... remainvacantaftertheirpurchase.65Onreturningfromavisitto the USin the late1920’s,Hayekforetoldadeepslump.Onbeingtoldthiswasimpossible,becauseUSpriceswereessentialstable,Hayekapparentlyrespondedthatthiswasprecisely the evidence of anunderlyingproblem.Increasesinproductivityshouldhavebeenpushingpricesdown,butcreditexpansionwasholdingthembackup.66Ineffect,savingswouldproveinadequatetopurchaseall ofthe goods and servicesprovidedby the increasedinvestmentgeneratedartificiallybycreditreceivedfrom the bankingsystem.67Among the AME’s,onlyGermany,Switzerland and Japanfailedtoreflectthesedevelopments.Inpart,thiswasbecauseallthreecountrieswerestillrecoveringfromtheirown,earlier,housepricebubbles.68Suchconcernshavebeenexpressedin the variouscountryreviewsorganizedby theEconomicand DevelopmentReviewCommittee ofthe OECD.Australia,NewZealand,Canada, the Scandinaviancountries and anumber of othersallseemtobeexposedinthisregard....
... imposition. The Stress Hypothesis: Do the Demands of Military Service Damage Marriages?Service members and their spouses agree that the strains of military service, and especially the demands of being ... with qualities ofthe marriage at the outset of military service, such as the length ofthe marriage and whether or not children were present prior to marriage. A history of childhood depression, ... examine closely the immediate source of most of their complaints, namely the quality of their communication and con-flict resolution (e.g., Raush et al., 1974; Weiss, Hops, and Patterson, 1973)....
... Institute of International Studies in Geneva in 1983. He has written extensively in the areas of monetary theory and policy, and is a research fellow ofthe CEPR and a fellow ofthe CFS.Prof. ... the Universities of Würzburg and Ulm, where he held the Ludwig Erhard Chair of EconomicPolicy between 1997 and 2000. He is a fellow ofthe CFS, visited at the Federal Reserve Board andthe ... include economic theory, the history ofeconomic thought, political economy and resource economics. In 2004 and 2005, Professor Schefold received honorary doctorates from the University of Tübingen...
... experimentally:If the temperature of system A is equal to the temperature of system B, and the temperature of system B is equal to the temperature of systemC, then the temperature of system A is equal to the ... forefront of second lawresearch: thermosynthetic life and physical eschatology. The former is a proposedthird branch of life — beyond the traditional two (chemosynthetic and photosyn-thetic) — and ... relevant to evolutionary and extremophile biology, biochemistry, and origin -of- life studies. The latter topic explores the fate of life in the cosmosin light ofthe second law and its possible violation....