8 Most Common IELTS Mistakes and How to Avoid Them

8 Most Common IELTS Mistakes and How to Avoid Them Here is a rundown of eight most normal IELTS traps that cost test takers valuable focuses. More is less. A typical error is to reply in a larger number of words than educated. In the event that the undertaking says Not multiple words, replying in at least 4 words will cost marks.Less is less. The length of a composed errand is essential. At the point when directions notice a negligible number of words (250 for a paper, 150 for report or letter), it implies that any work shorter than required will be penalized.A longer exposition doesnt mean a superior imprint. Another normal misguided judgment is that more drawn out articles score better in IELTS. In addition to the fact that this is a fantasy, yet additionally a perilous one. Composing a long article can in a roundabout way cost marks in light of the fact that the odds of committing errors increment with the quantity of words and sentences.Changing the subject is unsuitable. Now and again an understudy is approached to compose on a point, that he doesnt comprehend. To maintain a strategic distance from the fiasco of missi ng an entire assignment they choose to compose on a somewhat †or altogether - distinctive subject. The dismal certainty is that regardless of how wonderful the submitted work is, an inappropriate subject methods a zero score. Another comparative trap is to preclude portions of the given theme or disregard the rules in your work. Each point the subject alludes to should be secured on the grounds that the analysts will be really checking them. A decent memory can get you in a tough situation. Having seen that the themes in some cases rehash, keen understudies with great memory choose to remember expositions. This is an awful misstep to make in light of the fact that the analysts are prepared to search for remembered articles and have firm directions to exclude such chips away at the spot.An complement isn't significant. Elocution is. IELTS, being a test for non-local English speakers cannot punish individuals for having a complement. The issue here is that not every person realizes the distinction between talking with an emphasize and misspeaking the words. Regardless of how solid an emphasize an individual has, the words are to be articulated effectively or it will cost marks.It isn't the thoughts that are significant, yet the manner in which they are depicted in. Numerous understudies believe that communicating an inappropriate thoughts (regardless of whether it is an exposition, letter or conversation) can hurt their sc ore. In all actuality no thought can not be right and the thoughts are not significant all alone, it is how they are communicated in that significant. Connective words: is should not generally as much as possible. Shrewd understudies realize that one of the articles stamping models is intelligence and union, and what better route is there to show attachment than to utilize bunches of connective words, correct? Wrong. Abuse of connective words is a known issue, which is effortlessly perceived and punished by the inspectors. An expression of counsel: to avoid inconvenience, it is similarly critical to know about the entanglements and to rehearse enough before the test. Being acquainted with the structure and the strategy of the test will develop certainty and that will reflect in your score. This article was benevolently given by Simone Braverman who runs an incredible IELTS blog loaded with valuable data and tips on taking the IELTS test.

Racial Discrimination in the Criminal Justice System

Racial Discrimination in the Criminal Justice System Free Online Research Papers The death penalty is the lawful burden of death on an individual sentenced for a wrongdoing. At the foundation of this questionable subject are good, lawful and moral concerns. It is supposed to be held for the most genuine, intolerable violations and its utilization has been defended through cases of discouragement and avoidance of further wrongdoings. Capital punishment has regularly been justified from a strict perspective, citing the order of Exodus in the expression a â€Å"eye for an eye, tooth for a tooth, life for a life† (Meltsner, 1973, p. 46). Rather than thusly of reasoning, numerous individuals have come to notice the expressions of the late Martin Luther King, Jr. who cautioned that tit for tat mentality just makes everybody daze (Bessler, 2003). One would consider it odd in the event that one would recommend that we assault the attacker or loot the outfitted burglar. However, our general public keeps on advocating killing the killer. Since the beginning, minorities, particularly African Americans, have been dealt with uniquely in contrast to their white partners in the criminal equity framework. Going back to the times of the â€Å"Old South† where blacks were lynched for the smallest infraction, there have been archived instances of African Americans having been rebuffed more brutally than whites for a similar law infringement. This racial inclination is particularly clear in the organization of capital cases. As per the United States Census Bureau, around sixty-nine percent of the American populace is of white, non-Hispanic foundation and African Americans make up roughly twelve percent of the populace. However, when seeing death row prisoners, blacks comprise of forty-two percent of detainees. This is a significant contrast according to their populace numbers. Starting at July 2004, there were 3,490 prisoners sitting waiting for capital punishment, forty-four percent of those taking living arrangement in only three states, California, Texas, and Florida. Also, distributed research has demonstrated that capital punishment in Florida, Georgia, and Texas is saved solely for those (white or dark) who execute whites (Death). During this year alone, fifty-nine detainees have been murdered on account of the state (â€Å"Facts†, 2004). The way wherein the death penalty is regulated in this nation is a long way from being liberated from segregation in its application. The Supreme Court of the United States first authoritatively perceived this predisposition in the milestone choice, Furman v. Georgia (1972), in which the court held that by forcing capital punishment, discipline is â€Å"cruel and unusual†. What's more, most as of late, New York announced its utilization of capital punishment illegal (â€Å"Facts†, 2004). The entirety of the judges in most of the Furman choice had various perspectives on why capital punishment encroached on the Eighth and Fourteenth Amendments, anyway they all concurred that it was unlawful (Bessler, 2003). Equity William Douglas composed: The words coldblooded and surprising absolutely incorporate punishments that are uncouth. Yet, the words, at any rate when perused considering the English banishment against particular and unpredictable utilization of punishments, propose that it is merciless and unordinary to apply capital punishment or some other punishment specifically to minorities whose numbers are not many, who are outsiders of society, and who are disliked, however whom society is happy to see endure however it would not face general use of a similar punishment no matter how you look at it. There is expanding acknowledgment of the way that the essential topic of equivalent assurance is understood in coldblooded and strange disciplines. A punishment . . . ought to be considered uncommonly forced on the off chance that it is directed subjectively or prejudicially. The extraordinary irregularity with which material capital punishment arrangements are put to utilize raises a solid surmising of mediation. However w e realize that the circumspection of judges and juries in forcing capital punishment empowers the punishment to be specifically applied, taking care of biases against the blamed on the off chance that he is poor and disdained, and lacking political clout, or in the event that he is an individual from a suspect or disagreeable minority, and sparing the individuals who by social position might be in an increasingly ensured position (Furman v. Georgia, 1972). Equity Brennan, likewise in the larger part, composed, â€Å"When a nation of 200 million seldom causes a bizarrely extreme punishment, the induction is solid that the punishment is unjustifiably and unpredictably applied, that it opposes network esteems, and that there is a profound situated hesitance to utilize it. The thought that since individuals dread passing the most, capital punishment is a better hindrance than wrongdoing just applies to the individuals who contemplate submitting capital offenses† (Bessler, 2003, p. 94). In the Furman v. Georgia (1972) choice, the agreeing judges concurred that the Constitution restricted the execution of the 631 men and two ladies hung waiting for capital punishment in 32 states. Of those 633 prisoners, 547 were killers, 80 were attackers and four were outfitted burglars; of which 351 were dark, 267 white and 13 of other racial foundations. The entirety of the sentenced had their sentences driven to life detainment, to a term of years, or, in a couple of cases, to new preliminaries (Bessler, 2003). The Supreme Court in the end cancelled this choice in 1976. According to segregation in the death penalty, Bessler (2003) recognizes seven normal fantasies: Fantasy #1: Innocent individuals aren’t executed. The Stanford Law Review distributed an investigation in 1987 and found that since 1900, at any rate 23 individuals who were conceivably blameless have been killed. More than 100 individuals have been discharged from death row since 1973 in light of vulnerabilities about their blame or on the grounds that DNA or other proof emphatically demonstrated their guiltlessness (Bessler, 2003). So far this year, there have just been five absolutions (â€Å"Facts†, 2004). Bessler (2003) points out an examination led by James Liebman, an educator at Columbia Law School, which demonstrated exactly what number of slip-ups are made in death cases. The investigation took a gander at 4,578 capital sentences audited by state re-appraising courts and 599 capital sentences looked into in government habeas procedures from 1973 to 1995. Of the 4,578 capital punishments checked on direct intrigue, 41% were hurled out because of genuine blunder. Significantly more sentences were emptied in state habeas corpus procedures, and of the 599 sentences evaluated by government courts, 40% were put aside as a result of possibly deadly mistakes. In those occasions, it took on normal over seven years to distinguish the mistakes. Bumbling safeguard lawyers were liable for 37% of mix-ups, 20% included broken jury directions and 19% were because of police or prosecutorial blunder. At retrials, 75% of convicts whose capital punishments were emptied got lesser sentences or absolv ed. The general blunder rate from 1973 to 1995 in capital cases was 68% (p. 89). A room for give and take that high is not really adequate on college level tests, yet our general public keeps on permitting individuals to be killed under such conditions. George W. Hedge, previous legislative head of Texas, communicates certainty that no honest detainees were ever executed during his gubernatorial residency. â€Å"I know there are some in the nation who don’t care for the demise penalty,† he once said on the presidential battle field, â€Å"but I’ve said once and I’ve said a ton, that for each situation we’ve satisfactorily addressed guiltlessness or guilt† (Bessler, 2003, p. 71). However, under his organization, Bush concluded that 30 minutes was too long to even think about spending on a last survey of a capital punishment, so he slice audits to a minor 15 minutes. In what capacity can somebody â€Å"adequately† decide blame or honesty in a 15-minute audit? A previous French equity serve, Robert Badintor, was so disturbed by Bush’s oversight of (and absence of oversight of) in excess of 100 Texas executions that he called Bush â€Å"the best on the planet executioner† (B essler, 2003, p. 77). Maybe Bush ought to have followed the lead of Illinois Governor George Ryan, who in 2000, pronounced a ban on executions in his home state. After 13 death row prisoners were excused by new proof, Ryan said he would not permit further executions except if an autonomous board could give him a â€Å"one hundred percent guarantee† against any mixed up feelings (Bessler, 2003, p. 68). Likewise in 2000, President Clinton and Attorney General Janet Reno reasoned that a ban on government executions was important to direct a further investigation of the issue. That review was jettisoned in 2001, when President Bush’s recently designated Attorney General, John Ashcroft, pronounced that another examination indicated â€Å"no proof of racial predisposition in the organization of the government passing penalty† and who announced the Department of Justice would not defer executions based on questions about racial reasonableness (Bessler, 2003, p. 88). Legend #2: Death push detainees all get reasonable preliminaries. What amount does a preliminary expense? For a few, it is only a financial issue. For other people, it can cost them their life. A reasonable preliminary innately rotates around the capacity to hold equipped guidance, and under most conditions, able direction doesn't go under the appearance of a court designated lawyer. For instance, in Alabama there is no state financed open safeguard framework. Lawyers, subject to extreme remuneration limitations by the state, wind up speaking to respondents in capital cases who can't bear the cost of insight. Until 1999, Alabama’s top on pay in capital cases was the most reduced in the country. Alabama’s hourly pace of pay was $20 every hour for out-of-court work and $40 every hour for in-court action. Out-of-court pay was topped at $1,000 per period of a capital preliminary. These limitations drove numerous legal counselors to disregard the time important to adequately help their customers in capital cases. (Steven

Hartford

Hartford Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635â€"36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. The second largest city in the state, it is a port of entry. Hartford was long world famous as an insurance center. Its insurance business began in 1794, and the area was once home to the headquarters of more than 35 insurance companies. Mergers and downsizing during the late 20th cent., however, greatly lessened the insurance industry's importance. Manufactures include precision instruments, computers, transportation equipment, firearms, and electrical equipment. One of the earliest and strongest colonial centers, Hartford and two other towns formed (1639) the Connecticut Colony, adopting the Fundamental Orders . From 1701 to 1875 it was joint capital with New Haven. It was an important military supply depot during the American Revolution, and in 1814â€"15, it hosted the Hartford Convention . The Hartford Courant, founded in 1764, is one of the country's oldest newspapers. Landmarks include the old statehouse (1796; designed by Charles Bulfinch), where the Hartford Convention met; the site of the Charter Oak ; the capitol (completed 1878; designed by Richard M. Upjohn); and the famous Travelers Insurance tower. Hartford has a noted art museum (the Wadsworth Atheneum), a symphony orchestra, and opera and ballet companies. The Connecticut state library includes the Colt collection of firearms. Other attractions are the Harriet Beecher Stowe House (1871), where Stowe lived from 1873 to 1896, and the Mark Twain House (1873â€"74). Noah Webster, John Fiske, and the elder J. P. Morgan were born in Hartford; the theologian Horace Bushnell, the author Charles Dudley Warner, and the poet Wallace Stevens lived there. The city's many parks include Elizabeth Park, scene of an annual rose festival, and Colt Park. Among Hartford's institutions of higher education are Trinity College, the Univ. of Hartford, Hartford College for Women, and a branch of the Univ. of Connecticut and its schools of law and social work. There is also the American School for the Deaf and the Connecticut Institute for the Blind. The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved. See more Encyclopedia articles on: U.S. Political Geography

The Effects Of Asset Price Bubble Bursts Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3073 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? The outbreak of financial crises is now more than 2 years ago. Out of many factors responsible for the occurrence of the current financial crisis one important factor is the rise in the asset prices which is followed by a collapse and the widespread default. Bursting of the asset price bubble often leads to financial crisis. Don’t waste time! Our writers will create an original "The Effects Of Asset Price Bubble Bursts Finance Essay" essay for you Create order Some historic examples of crisis due to bubbles in asset price are the Dutch Tulipmania, the South Sea bubble in England, the Mississippi bubble in France and the Great Crash of 1929 in the United States. Examples of the crisis due to bubbles in real estate and stock prices can be seen in Japan in the late 1980s. Norway, Finland and Sweden had similar experiences in the 1980s and 1990s. In emerging economies financial crisis have occurred in countries like Argentina, Chile, Indonesia, Mexico, Malaysia, Thailand and South Korea. The focus and motivation behind this paper is to look at the bubbles in the asset prices and what leads to the creation of bubbles and further recession in the economy. Chapter 1 gives an introduction about the bubbles, stages and phenomenon involved in the asset price bubble. In Chapter 2 we discuss about how bubbles are created in asset prices due to uncertainty about the asset payoffs i.e. uncertainty in the real sector and anticipation of the credit expansion which is the uncertainty in the financial sector through a formal model. In chapter 3 we focus on the methodology of detecting a bubble and the effects of the bubble burst in the economic and financial sector. In chapter 4, the possible actions that are required to be taken by the policy makers and how crisis could be prevented is discussed and thereafter the paper is concluded with some remarks and discussion. STAGES AND PHENOMENON An economic bubble is referred to as a situation where assets or products are traded at a value which is higher than their fundamental value. There are many kinds of bubbles that have been observed in the past like stock market bubble, real estate bubble and dotcom bubble and there have been many explanations suggesting uncertainty, speculation, bounded rationality, credit expansion as the cause of these bubbles. The bubbles in asset prices have three distinct phases: The first phase is the conscious decision by the Central bank to increase the amount of lending in the economy as a step towards financial liberalization. This credit expansion leads to the rise in the asset prices such as real estate and stocks. The second phase is when the bubble of rising asset prices bursts and stock and real estate markets collapse over a long period of time. The third phase is characterized by the default of many firms and other agents that have borrowed to buy assets at inflated prices. These defaults can lead to banking crisis since banks are overexposed to the equity and real estate markets Then foreign exchange crisis occur because of the dilemma faced by the government to lower interest rates to ease banking crises or raise interest rates to protect the currency. Finally, the real sector of the economy is affected with significant fall in the output and recession which lasts for long. Japanese bubble in 1980s and 1990s reflects this phenomenon. Asset prices rose steadily in most of the period of 1980s due to the financial liberalization in order to support the US dollar. The stock exchange reached its peak during 1989. In order to fight inflation, the bank of Japan tightened the monetary policy which led to sharp fall in the interest rates in 1990s. Stock prices and real estate rises also followed the similar trend. The third phase was the defaults and retrenchment in the financial system that also adversely affected the real economy. In Norway similar event occurred where lending increased by 40% in 1985 and 1986 and then oil price collapse helped to burst the asset price bubble and caused severe banking crisis and eventually recession. Amongst emerging economies Mexico was also affected by similar problem. In the early 1990s banks were privatized and financial liberalization occurred. Bank credit to private non financial enterprises increased from 10% of GDP to 40% of GDP in 1994 and stock markets also rose significantly. With the Colosio assassination and the uprising in Chiapas triggered the bubble burst and as a result the prices of assets and stocks went down and banking and foreign exchange crises occurred. In the above three examples there is the same basic progression of three stages but they also exhibit differences. The most important nature of the events is the bursting of the bubble and in many cases a change in the real economic activity triggers the bubble burst. BUBBLES IN ASSET PRICES Asset prices are related to the amount of credit and how uncertainty about asset payoffs can lead to bubbles in an intermediated financial system. Investors borrow in order to invest in risky assets and they avoid losses in the low payoff states by defaulting on the loan. This risk shifting causes the assets to be priced above their fundamental value and bubble is created. The credit expansion has an originating effect on the asset prices as it encourages the investor to fund the risky investment. But along with credit expansion the uncertainty and the anticipation of future credit expansion can also increase the current asset price. Risk can originate both in the real as well as in the financial sectors. Both the concepts of rising asset prices are discussed below in the form of models. ASSET PRICING WITH UNCERTAINTY GENERATED BY THE REAL SECTOR This model analyses the effect of uncertainty in the price of the risky assets that leads to the creation of bubble. The source of uncertainty is the randomness of the real asset returns. There are two time periods, t= 1,2 and a single consumtion good at each date There are two assets: a safe asset (variable supply) and a risky asset (fixed supply). The safe asset, Xs has a fixed return r to the investor i.e. the rate of return is rXs units of the consumption in 2. The risky asset, Xri has a return RXri in 2, where R is a random variable with a continuous positive density h(R) on the support [0, Rmax] with a mean RÃÆ'Å’Ã ¢Ã¢â€š ¬Ã‚ ¦. The return on safe asset is determined by the marginal product of capital in the economy. The equilibrium or the market clearing condition for capital goods is: r=f (Xs) The risky asset also has a non pecuniary cost of investing, c(x), the purpose of which is to restrict the individual portfolios so that in equilibrium borrowers make positive expected profits. Now there are risk neutral investors who borrow from banks to invest in the safe and risky assets. There are also risk neutral banks who lend to the investors under restricted simple debt contracts as they cannot condition the terms of the loan on the size of the loan or on asset return. Now investors can borrow as much as they want at the going rate of interest. For the safe assets, any rate of return on the asset not equal to the contracted rate of interest would be inconsistent with the assumptions of the competition in the corporate sector and so in equilibrium the return on the safe asset is equal to the contracted rate of interest on loans. The investor who has borrowed from the bank to invest in risky asset does not bear the full cost of borrowing if the investment turns out badly. This convexity generates a preference for risk. We now analyze the behavior of the investor. Assumptions: All investors are treated symmetrically and will be charged same rate of interest r. Banks supply loanable fund B inelastically and the rate of interest adjusts to clear the market. The optimization problem faced by the representative investor is to decide how much to borrow and its allocation between the two types of asset. The total amount borrowed is: B=Xs+PXri where P is the price of the risky asset. The repayment to the Bank will be: r (Xs+PXri). The liquidation value of the portfolio is rXs+RXri. Therefore, the payoff to the investor at date 2 is RXri-rPXri So investors problem is: maxwhere Xri 0 (1) where R* = rP is the critical value of the return to the risky asset at which the investor defaults. The optimal amount of safe asset is indeterminate and so it drops out from the investor decision problem. The market clearing condition for the risky asset is: Xri=1 The market clearing condition for the loan market is Xs+PXri=B where Xri=1 The equilibrium is described by the variables (r, P, Xs, Xri) where portfolios (Xs, Xri) solves the decision problem given the parameters (r, P) and the above two market clearing conditions are satisfied. There exists a unique equilibrium if RÃÆ'Å’Ã ¢Ã¢â€š ¬Ã‚ ¦ ÃÆ'†¹Ãƒâ€ Ã¢â‚¬â„¢ c (1) and the bank supply amount of credit B inelastically at rate of interest r which adjusts to equate the funds demanded with funds supplied. A borrower will default when the realized rate of return will be less than the rate of interest i.e. Rlt;rP. This difference in contracted and the realized rates of return is borne by the banks. The importance of this model is that it explains the risk shifting problem and the fact that risky asset is in fixed supply. Borrowers are attracted towards risky asset because they fall back on their loans in case of losses. When the asset return is high they receive the surplus and banks get their fixed return. So this implies that borrowers will bid up the price of the asset above its fundamental value which is the classic definition of a bubble. But the question is what the fundamental value is? The fundamental value can be defines as a value that an individual investor would be filling to pay for one unit of risky asset if there were no risk shifting, other things being equal. In this case the investor will choose the portfolio as follows: Max (Xs, Xri) 0 subject to Xs + PXri B Using first order conditions and Xri=1, the fundamental price is P*= 1/r [R-c'(1)] The equilibrium price with risk shifting is: P= [ We can see that PÃÆ'†¹Ãƒâ€ Ã¢â‚¬â„¢P*, that is there is an asset price bubble as long as the probability of default is positive. The risk shifting behavior is important for the creation of a bubble. It also points out a fact that the degree of riskiness of an asset determines the size of a bubble. Increase in the riskiness of an asset will increase the size of a bubble and also the probability of default. ASSET PRICING WITH UNCERTAINTY GENERATED BY FINANCIAL SECTOR Financial liberalization leads to an expansion of credit which increases the price of the assets and hence feeds the bubble in asset prices. These higher prices are further supported by further increase in the credit and asset prices. Neither the amount of financial liberalization and credit expansion is foreseen nor does the Central bank have full control on the amount of credit. Also there may be other economic changes like changes in policy, administration external environment that can alter the extent and amount of credit expansion. The model discussed below reflects how the uncertainty in the extent of credit expansion can increase the magnitude of the bubble. There are 3 time periods, t=0,1,2 and single consumption good at each date Assumptions: B is the amount of credit available for lending and is partially controlled by the central bank. Central bank can influence the amount of credit available in the economy by altering either reserve requirements or quantity of assets available to be used as reserves. This creates uncertainty among the investors and they rationally anticipate an expansion in B. At date 0, the level of B1 is treated by agents as a random variable with a positive, continuous density k (B) on the support [0, B1max]. The price of the risky asset at date 1, P1 (B1) and is also a random variable. The safe asset pays rt x at date t + 1 if x is invested at date t = 0, 1. The owner of the risky asset receives a payoff of Rx at date 2. There is short term borrowing at dates 0 and 1. Entrepreneurs initially own the asset in fixed supply. At date 0 they sell it to the investors who own them till date 1 and then these new investors sell the risky assets at date 1 to final group of investors who own them till date 2. Investors in the risky asset incur the investment cost c(x) at each date t = 0; 1. Now the risky asset has a certain return RÃÆ'Å’Ã ¢Ã¢â€š ¬Ã‚ ¦. It is risky because it is a long-lived asset and is subjected to the fluctuations at date 1. Now the uncertainty comes entirely from the credit expansion B1. Now the equilibrium price of the risky asset at date 1 when there is no uncertainty involved is: P1= Let P1 (B1) denote the equilibrium value of the risky assets price at date 1 when the credit level is B1, then P1 (B1) is continuous and increases in B1. Then representative investors problem at date 0 is: Max X0R0 where, P0: price of the risky asset at date 0. (X0S, X0R): portfolio chosen at date 0. r0: borrowing rate at date 0 B*1: value of B1 at which the investor is on the verge of default at date 1: P1 (B*1) = r0P0 Equilibrium is defined by the variables (r0, P0, B*1, X0S, X0R), where the portfolio (X0S, X0R) solves the investors decision problem given (r0, P0, B*1), and the following market clearing conditions are satisfied: X0R = 1 X0S + P0X0R = B0 r0 = f0(X0S) There exists a unique equilibrium if E [P1 (B*1)] ÃÆ'†¹Ãƒâ€ Ã¢â‚¬â„¢c (1), equilibrium price will be P0= ( Here the uncertainty about B1 took place of the uncertainty about R. When there is financial liberalization the uncertainty arising from government and central bank policies on credit expansion can dwarf the uncertainty and the agency problems with real payoffs on asset. It is the interaction between financial uncertainty and agency problem in the intermediation that leads to asset bubbles and subsequent severe financial crises. EFFECTS OF ASSET PRICE BUBBLE BURST Asset price crashes or bursts have often been associated with declines in the economic activity, financial instability and sometimes large budgetary costs from the recapitalization of the banking systems. The asset price bust has effects on both macroeconomic and financial activities. While every asset price bust is different and depends on circumstantial factors such as the underlying shocks, the analysis shows that asset price busts and concurrent macroeconomic developments in the postwar period in industrial countries share common patterns that provide a relevant point of reference for assessing the current busts. These patterns are identified using event analysis-that is, on the basis of their timing, which does not imply causality.1 The procedure used to identify booms and busts in asset prices and turning points in these prices for the postwar period is based on the method developed in business cycle analysis and involves two steps: Determination of asset price cycles- turning points in the level of broad equity price indices define the cycles in those prices. Typically Bull and Bear markets are the asset market equivalents of expansion and recessions. Identification of booms and busts- based on the full set of bull and bear market, booms (busts) were identified as those episodes with large price increases (decreases). Busts begin one quarter after the peak and end with the trough quarter. Booms begin with the peak and end with the subsequent peak and they are identified on the basis of price increases over the full cycle. Equity price turning points were identified using quarterly real equity price indices for 19 industrial countries. The regular equity price indices were deflated using consumer price indices. The primary data source for these prices was the IMFs International Financial Statistics. The analyses suggest main points: Equity price busts on average occurred about once every 13 years, lasted for about 2.5 years and involved price declines of about 45 percent (though the busts in the mid-1970s averaged about 60 percent) and only about one-fourth of equity price booms were followed by busts.2 Asset price busts leads to output losses reflecting declines in the growth rates of private consumption, investment in machinery and equipment and investment in construction and housing prices. On average, the output level three years after an equity price bursts was about 4 percent below the level that would have prevailed with the average growth rate during the 3 years up to the bust. There are significant price spillovers across asset classes. In an equity price bust, housing prices tended to decline in tandem with equity prices, while in a housing price bust equity prices fell more quickly and by a larger amount than housing prices. Asset price busts are also linked with reductions in the growth rates of private credit and broad money. The magnitude of the asset price fall during a bust depends in part on the size of the run-up in prices prior to the bust. Similarly, the extent of the slowdown in investment growth during a bust depends in part on the earlier pace of investment. Market-based systems tended to suffer larger output losses than bank-based systems during equity price busts. This is consistent with the high exposure of banks to real estate lending, and the importance of equities in household assets in market-based systems. Asset price booms are generally associated with a large increase in corporate investment and borrowing, driven by strong domestic demand, strong expected rates of return, and strong cash flow. Once the uncertainty regarding the expected profitably becomes clear or that corporate financial health is in danger, this process is reversed, as firms try to adjust by retrenching their balance sheets and reducing investment. The impact of the recent equity price bust on corporate balance sheets has so far been somewhat smaller than in the episodes of the late 1980s and early 1990s-in part because valuations have remained above historical levels, sharply lower interest rates have helped shore up corporate liquidity, and the boom was concentrated in the information technology (IT) sector, where low leverage helped mitigate spillovers to the banking sector. However, corporate leverage remains relatively high, and may continue to be a drag on recovery for some time, particularly in Europe where investment is largely financed through bank borrowing rather than equity.

Essay about Agricultural pollution - 1120 Words

There are countless sources of water pollutions that exist today due to our industrious and technologically advanced lifestyles. However, the most vexing is caused by the most basic necessity for survival, Agricultural Pollution. Agricultural Pollution is defined as, â€Å" liquid and solid wastes from all types of farming activities, including run-off from pesticide and fertilizer use, and from feedlots; erosion and dust from ploughing; animal manure and carcasses; and crop residues and debris. In essence Agricultural Pollution is a nonpoint source water pollutant since it comes from various locations and cannot be pinpointed† (EPA-web). Although there are many practices already in place that will decrease the pollution, increase†¦show more content†¦Livestock Grazing Overgrazing exposes soil, increasing the chances of erosion, encourages adverse plants, and destroys water filtering vegetation. Irrigation Excessive irrigation can decrease the amount of water that flows naturally into streams and rivers by erosion as well as transport concentrated salts to. Pesticides As with the other chemicals, pesticides, herbicides, and fungicides, are used to produce a quality product for the consumers. These chemicals affect water pollution through run off, direct application, and atmospheric deposition. TABLE 1: Leading sources of water quality impairment in the United States (US-EPA, 1994) Rank Rivers Lakes Estuaries 1 Agriculture Agriculture Municipal point sources 2 Municipal point sources Urban runoff/storm sewers Urban runoff/storm sewers 3 Urban runoff/storm Hydrologic/habitat modification Agriculture 4 Resource extraction Municipal point sources Industrial point sources 5 Industrial point sources On-site wastewater Resource extraction Unbeknownst to the general public, outside of the enthusiastic environmentalist, the Neuse and Trent Rivers are heavily contaminated and yet authorities are doing little about it as far as prohibiting swimming, fishing, and water collection for drinking. After Hurricane Irene hit the area, in August 2011, the Neuse River Keeper Foundation set out to collect samples to see what damage had been done.Show MoreRelatedAgricultural Adjustment Program : The Price Loss Coverage ( ARC )734 Words   |  3 Pages Throughout the years the Agricultural Act has allowed the federal government to award billions of dollars to farmers, that determines the foods grown and the foods we eat. The Agricultural Adjustment Act of 1938 mandated the government to pay grant subsidies for corn, wheat and cotton, to maintain adequate supplies of these staple goods during low production times (Orden Zulauf, 2015). The farm bill is revisited every five years, encompassing farm commodity prices and programs, income, farm creditRead More Any Farming is Good Farming Essay1713 Words   |  7 Pagesalone its own citizens, with food. The farming industry as a whole is failing and that is why we see family farms disappearing from the landscape of America. 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Committee on reorganization Free Essays

Leone P. Aboard, DVD, which basically aims for appropriate alignment of descriptive titles of seventeen (17) positions to be reconciled to actual nature of work rendered by the respective incumbents thereto under the Office headed by the latter, entails no change In salary grade levels and/or step Increments. The Local Government Code of 1991 (Republic Act No. We will write a custom essay sample on Committee on reorganization or any similar topic only for you Order Now 160) gives the lawful authority to the Sanguinary Penalizing the determination of positions paid wholly or mainly from the provincial funds (Section 447), to which the subject Letter- Request pertains. However, Section 325(f) of the same law provides a limitation for the exercise of such authority by the SP, to wit: â€Å"(f) No changes in designation or nomenclature of positions resulting in a promotion or demotion in rank or increase or decrease In compensation shall be allowed except when the position is actually vacant, and the filling of such positions shall be strictly made In accordance with civil arrive law, rules and regulations. The subject Request of the Honorable Governor complies with the Limitation abovementioned. In fact, it does not consist of promotion or demotion or of increase requesting Office had identified only twelve (12) positions to be re-titled. Because presently held by incumbents, such positions to be re-titled are requested in consonance with the certification issued by the Human Resource Management Office (HARM) of the Province. Thus, the positions of one Livestock Inspector V (Item No. 7) and four Livestock Inspector VI (Item No’s. And 6), as originally listed by the questing Provincial Veterinarian, had been excluded due to the finding made by the Office of the Governor of the absence of approved Qualification Standards to be met by the incumbent appointees thereto set forth by the Civil Service Commission, and as another requisite to be met so pointed out in the certification issued by the HARM. How to cite Committee on reorganization, Papers

What do you understand by the term Internet Culture Essay Example For Students

What do you understand by the term Internet Culture? Essay Even in contemporary society you are labelled as disadvantaged if you are unable to communicate with the masses. Computer Mediated Communication is set to become the defining factor between the Have and Have Nots. At the moment is you are not online you are not a member of the information superhighway. If you are not wired you are not involved. As more and more media begin to turn to the electronic forum many communication traditionalists are finding it hard to find a sense of place within the changing cultural standards. However, it is important to investigate the root of the superhighways phenomenal advantage. We will write a custom essay on What do you understand by the term Internet Culture? specifically for you for only $16.38 $13.9/page Order now Is the Internet progression manipulated or are you truly disadvantaged if you are not inline with the new codes of conduct in an increasingly electronic culture? After all as a society we have traditionally learned about new technologies and innovations from the more conventional communications media21. Culture is not yet at the advanced development that one would think. Individuals rely heavily on instinctual aspects of communication development. You do not instinctively turn to the Internet to find out what is on television. The tendency is still to turn to newspapers and the television magazines. It is on reviewing this information that you may turn on you television and see a commercial or programme that has provided further information at their website. It is only at this stage that the Have Nots may feel disadvantaged as they may be lacking access to home computing. What has become clear is that society has become more involved with cultural change. Rather than change happening and the individual trying to catch up, it would seem that change is being provoked by the masses and access to new forms of communication is becoming a national agenda. As the Internet becomes more and more mainstream the Have Nots within western society are demanding the access to the media involved with being wired. Home computing is becoming cheaper and with cable and satellite hopping on the interactive bandwagon the line between the information elite and the masses is slowly being erased. However, it is not just having access that invokes knowledge. Society and Culture are slowly pandering to the easy answer to the complexity of computer mediated communication22. The plug in and surf motto of many mainstream computer companies is a message that is as much misleading, as it is misguided. What Internet Culture is heading for is questionable. If the majority of individuals do not understand the common language of communication we will be heading for a Big Brother type scenario were we are at the mercy of the computer programmers who understand the essence of computer programming languages. The future of the information superhighway and Internet Culture should not be based on ease of its use, it should be fundamentally based on thorough understanding, but at this point this concept is not being incited. Howard Rheingold makes this notion a cultural incentive by suggesting: We need a clear citizens vision of the way the Net ought to grow, a firm idea of the kind of media environment we would like to see in the future. If we do not develop such a vision for ourselves, the future will be shaped for us by large commercial and political power holders. 23 Whether or not the future of Internet Culture will be flourishing is inconsequential, however, the question of whether or not the Internet will be public or private is still being decided. Perhaps, what is more important to critically review is the question of whether or not the notion of power and control has already been answered for us, rather than by us. .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 , .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .postImageUrl , .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .centered-text-area { min-height: 80px; position: relative; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 , .ue0d6de0dbdc3e642b7fca5d9c1aec3d1:hover , .ue0d6de0dbdc3e642b7fca5d9c1aec3d1:visited , .ue0d6de0dbdc3e642b7fca5d9c1aec3d1:active { border:0!important; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .clearfix:after { content: ""; display: table; clear: both; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1:active , .ue0d6de0dbdc3e642b7fca5d9c1aec3d1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .centered-text-area { width: 100%; position: relative ; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1:hover .ctaButton { background-color: #34495E!important; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1 .ue0d6de0dbdc3e642b7fca5d9c1aec3d1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ue0d6de0dbdc3e642b7fca5d9c1aec3d1:after { content: ""; display: block; clear: both; } READ: Gardner'S Grendel EssayBibliography Tapscott, Don Growing up Digital, the Rise of the Net Generation, McGraw Hill, 1998 Rheingold, Howard The Electronic Version of the Virtual Community, www. rhiengold. com/vc/book Turkle, Sherri Virtuality and its Discontents Searching for Community in Cyberspace www. prospect. org Turkle, Sherri Who Am We? , Wired Archive 4. 01 January 1996/Features www. wired. com/wired/archive/4. 01/turkle Zwingle, Erla National Geographic, Global Culture, August 1999, Volume 196, No. 2 Ong, Walter Orality and Literacy, The Technologizing of the World Routledge, 1982 Crowley ; Mitchell Communication Theory Today Polity Press, 1994 Porter, David Internet Culture Routledge, 1997 Slayden et al Soundbite Culture the Death of Discourse in a Wired World Sage, 1999 Jackson, Peter National Geographic, Global Culture, August 1999 Volume 196 No. 2 Williams, Raymond Keywords, A Vocabulary of Culture and Society Fontana Press, 1976 Anderson, Benedict Imagined Communities Verso Books, 1991 1 Jackson, Peter National Geographic, Global Culture, August 1999, Volume 196 No. 2 2 Williams, Raymond Keywords, A Vocabulary of Culture and Society, Fontana Press, 1976 3 Williams, Raymond Keywords, A Vocabulary of Culture and Society, Fontana Press, 1976 4 Slayden et al Soundbite Culture, the Death of Discourse in a Wired World, Sage, 1999 5 Oral Culture was temporally biased as it favoured time, physical and social stability and oral communication. 6 Ong, Walter Orality and Literacy, The Technologizing of the World, Routledge, 1982 7 Crowley ; Mitchell Communication Theory Today, Polity Press, 1994 8 Ong, Walter Orality and Literacy, The Technologizing of the World, Routledge, 1982 9 By this I am referring to the Internet and the ability that it has to converge most aspects of traditional communication that include; speech, print, visual images and more recently voice interactive communication. Prior to the Internet we had individual media that allowed individuals to do certain tasks, but not all and not entirely interactively. 10 Porter, David Internet Culture, Routledge, 1997 11 Zwingle, Erla National Geographic, Global Culture. August 1999, Volume 196, No. 2 12 Turkle, Sherri Virtuality and its Discontents: Searching for Community in Cyberspace, www.prospect. org/cgi-bin/printable. cgi 13 I say essential as a majority of people would not be able to function properly without a television, a computer and a wealth of electronic gizmos that they assume make their lives easier, and I do not mean it literally. 14 Rheingold, Howard The Electronic Version of the Virtual Community, www. rhiengold. com/vc/book 15 Surely there must be some repercussions associated with the new -found fluidity of the virtual world and the real world? Where do you draw the line between the real and the virtual? These are all questions that need to be reviewed, as I cannot imagine that the ability to have multiple identities is congruent with a healthy existence. 16 Turkle, Sherri Who Am We? Wired Archive 4. 01 January 1996/Features, www. wired. com/wired/archive/4. 01/turkle 17 Turkle, Sherri Virtuality and its Discontents, searching for Community in Cyberspace, www. prospect. org 18 Rheingold, Howard The Electronic Version of the Virtual Community, www. rhiengold. com/vc/book 19 Anderson, Benedict Imagined Communities, Verso Books, 1991 20 With this I am suggesting that individuals who could not read were subjugated. The elite were the individuals who were educated and subsequently acquired knowledge. Power struggles between the elite and the less fortunate have been historically documented. However the one thing that defines the struggle to achieve power is the mode of communication that is being adopted and configured. 21 Rheingold, Howard The Electronic Version of the Virtual Community, www. rhiengold. com/vc/book 22 Tapscott, Don Growing up Digital, the Rise of the Net Generation, McGraw Hill, 1998 23 Rheingold, Howard The Electronic Version of the Virtual Community, www. rhiengold. com/vc/book.