...Seminar Financial Risk Management 20011-2012 Erasmus University Testing the validity of Purchasing Power Parity: In time series and panel analysis using CPI, TPI and PPI. Supervisor: Everaert Gerdie Leonora Jean-Timothy Marsoufandis-Balomenos Nikolaos Venieris Michael February 10th, 2012 319006 356941 354890 Abstract The examination of the Purchasing power parity theory with reference to 22 (invluding the U.S) countries is the prime objective of the paper. Consumer price index (CPI), whole sale price/producer price index (PPI), traded price index (TPI) and nominal exchange rate are the variables which were investigated in this study for the period 1957Q1-1998Q4, on the basis of the mean reversion hypothesis. Engle-Granger co-integration and Unit root tests have been employed to both of variables and estimated residuals of the sample in order to test the purchasing power parity. Keywords: Purchasing Power Parity, unit-root and co-integration. Content 1. Introduction……………………………………………………………….….3 2. Literature review………………………………………………………….….4 3. Data……………………………………………………………………………7 4. Methodology………………………………………………………………….8 5. Empirical results………………………………………………………..…....11 5.1. 5.2. 5.3. 5.4. 5.5. Unit-root and cointegration results(CPI)……………………………....11 Unit-root and co-integration results(TPI)……………………………..15 Unit-root and co-integration results(PPI)……………………………..16 Half-life deviations from PPP…………………………………………..17 Forecast performance…………………………………………………...20 6....
Words: 10539 - Pages: 43
...THE MICROSCOPE Much of the laboratory work in General Botany I involves the study of minute structures which are invisible of poorly seen with the naked eye. This requires the use of the microscope, the primary purpose of which is to magnify or greatly enlarge the image of the objects or organisms so their detailed structures may be studied. For our purposes, the monocular compound microscope will be used. It is an optical instrument with two lens systems: the objectives and the eyepiece or ocular. It can magnify an image up to several hundred times the actual size of an object. For effective use and proper care of the microscope, one must become familiar with its construction, parts and uses. There are three sets of parts: namely, the mechanical, illuminating, and magnifying parts. A. Mechanical Parts 1. Base- the U-shaped structure on which the microscope firmly rests in the place. 2. Pillar- the post of vertical extension of the base and to which the arm is attached. 3. Arm- the curve structure that connects the base and the body tube which serves as the handle of the microscope and at the same time supports the optical instrument. 4. Inclination joint- a movable hinge that attaches the frame of the microscope to the base and is used for tilting the microscope whenever necessary. 5. Stage- the platform upon which the slide containing the specimen to be studied is placed and is provided with a central opening allowing light to pass from below...
Words: 2068 - Pages: 9
...Email:amarmudiraj@gmail.com Abstract This paper presents a comparative study of Booting Paradigm of Windows, Linux and Mac, the three popular operating systems. Booting process is the essential and first step perform by the OS after this process execution all other processes can get the chance to execute , so we may say that booting is the first process because of which all other OS processes can execute. This experimental study gives an overview on the similarity and difference in Booting Process. As every operating system have to initially do the booting and as every OS providing different feature of each others, the paper is highlighting those micro and essential similarities and differences having by the operating systems during the Booting Process. Keywords: Booting, Cold booting, Worm booting, Linux Booting, Windows Booting, Mac Booting. In Worm Booting the computer get restart without shutdown the system, in which the system application and memory just get cleared and then reloading the operating system in primary memory. With the above two booting types we also have some other flavor in the computer booting like Sleep, Hibernate. Power - ON Load Instruction from ROM Detect OS from HDD 1. Introduction Find Attached H/W Booting Process is the first step gets happened in the computer system when you switch on the computer. In computing, booting is the initial set of operations that a computer system performs when electrical power to the CPU is switched on. The process...
Words: 2846 - Pages: 12
...Cannabis/Marijuana for Our Environment, Health and Ecology A Research Paper in English Submitted to: Mrs. Ma. Leonor M. Vertucio Submitted by: Mayuga, John Angel Ocino, Angel Joseph I. Introduction Our topic is about Cannabis, also known as marijuana (sometimes spelled "marihuana") among many other names, refers to any number of preparations of the Cannabis plant intended for use as a psychoactive drug or for medicinal purposes. According to the United Nations, cannabis "is the most widely used illicit substance in the world.“ The typical herbal form of cannabis consists of the flowers and subtending leaves and stalks of mature pistil late female plants. The resinous form of the drug is known as hashish (or merely as 'hash') The major psychoactive chemical compound in cannabis is Δ9- tetrahydrocannabinol (commonly abbreviated as THC). Cannabis contains more than 400 different chemical compounds, including at least 66 other cannabinoids (cannabidiol (CBD), cannabinol (CBN) and tetrahydro cannabis varin (THCV), etc. which can result in different effects from those of THC alone. In modern times, the drug has been used for recreational, religious or spiritual, and medicinal purposes. We choose this topic to know and to inform our listeners that marijuana is a harmful plant...
Words: 2791 - Pages: 12
...war in the Middle East as key source of feuds. Behind the world’s entire source of problems is a universal vice the whole world subjects itself to and that is money. The money has become the root of all evils. Disease, famine, political infighting human rights abuses are all products as a result of lack of money, control of money, and the hoarding of money. In this paper, the extent to which money has corrupt human beings is analyzed. The paper will look at the reasons as to why the evils due to money issue arise and how they are related to alienation as expressed by Karl Marx in his paper-alienated labor. Marx became revolutionary figure because he came to sure that capitalism could not be reformed. At the end, capitalism could only create estrangement and alienation. As Marx describes, there is important connections between greed, private property, the separation of labor, monopoly, exchange and competition, capital and landed property, value and devaluation of man and competition. There is connection between the entire systems of estrangement and that of the money system. Karl Marx perspective Karl points to the common connection between money and the evil. He demonstrates in the consumerism, greed, and profiteering characteristic of capitalism. “Money, and all it symbolizes, is the root of all evils in a deeper”. Money if viewed from outside the system may be seen to do something insidious. It eliminates the very concepts of evil. On the other hand, it makes it impossible to...
Words: 1968 - Pages: 8
...1 2 Introduction: This paper is about the risks associated with the construction of the Empire State Building. Risk is defined as the probability that an unfavorable outcome will occur. This paper will be addressing the possibilities of fire detection failure in the entire Empire State Building and the root cause of the failure, and also to mitigate the problem. Because of the size of the building and the number of level it is very important for the fire detection to be working perfectly. - It will also address possibility of power failure and the likely cause of the failure risk associated with the construction of the Empire State Building. Fault tree Analysis will be used to find the out the causes of the failures. The second risk is the possibility of water leakage in the building. Fault tree analysis is used to illustrate the likely problem and the root cause of the problem. Sources of construction project risk: The project manager will use the budget which was based on the historical data for similar project. Timeline of any project is very critical. Completing a project within the budget and schedule has always been the goal of a project manager, so for that reason the project manager will set the completion date with the callobration of the stakeholders of the project...
Words: 285 - Pages: 2
...Most people think that the world is a Wheel of Fortune and we have no choice other than staying passive to its consequences. Machiavelli employs “fortune” in The Prince in a very distinct way. He suggests that despite the inevitable power of fortune, humans can resist it. He proposes two analogies for understanding the human situation in the face of events. Fortune is analogized as a ruinous river or a woman who likes young and aggressive men. Throughout my paper, I will argue how Machiavelli’s depiction of Lucrezia in The Mandrake Root is an allegorical equivalent to the discussion of fortune as a woman in chapter 25 of The Prince. The first parable between discussion of fortune as a woman and the depiction of Lucrezia arises when Machiavelli states that “Fortune is the arbiter of one half of our actions, but that she still leaves the control of the other half, or almost...
Words: 1056 - Pages: 5
...Home Computer Incident Response Plan Introduction This paper contains a brief Incident response for my home computers. For the purpose of this paper two departments introduced, User department and Technology services department. Virus Attack Before Attack Users * Keep anti-virus software running? * Update virus signatures at least weekly. * Attend virus awareness training. * Learn how to detect and take basic steps during a virus attack. * Perform back-ups of vulnerable data on a regular basis. * Rotate most current backup media offsite. Technology Services * Provide education and training about virus attack awareness. * Provide education about the dangers and attack profiles of the most prevalent kinds of malware attacks. * Instruct users about proper method for data backups. * Randomly test backups using restores to ensure the quality of the backup procedures, the training, and the quality of the media. * Provide offsite backup media service. * Ensure that a current Incident Response Plan is in place to deal with active attacks and post attack situations. After an Attack Users * Work with Technology services to determine the extent of data loss. * Work with Technology Services to determine the root causes. * Work with Technology Services to provide input updates to the Lessons Learned * Work with Technology Services to provide input updates to the Incident Response Plan * Work...
Words: 1390 - Pages: 6
...Discuss the success of United States’ strategy in Afghanistan Shahaan Barlas Lahore School of Economics International Relations Mashal Shabbir April 9, 2012 Abstract This paper includes a brief discussion of the U.S strategies in Afghanistan and will then analyze that how successful was U.S in those strategies. The main objectives that were kept in mind by U.S while transferring its troops to Afghanistan are also discussed. The paper also concisely discusses the failure of the strategies undertaken by U.S and reasons for the failure. The paper also analyzes different aspects that left Afghanistan in a situation in which it cannot pursue without the help of another powerful country and also sheds light on the present situation of Afghanistan. The conclusion was drawn keeping in mind all the points, which were taken from credible sources, discussed in the paper. The paper includes several references to make the point more credible and clear to the reader. Success of U.S strategy in Afghanistan The American government was doubtful that even a stable and acceptable outcome in Afghanistan is possible. They believed that Afghanistan has never been managed effectively due to which it has become ungovernable. Much of today's public opposition to the war centers on the widespread fear that whatever the military outcome, there is no Afghan political end state that is both acceptable and achievable at a reasonable cost. An American commissioner...
Words: 2926 - Pages: 12
...What can be determined from this poem is that Heaney is feeling slightly Guilty for not following the footsteps of his father in becoming a farmer instead he became a writer. The regret is brought across as Heaney is deteriorating a family tradition of agriculture.This is a free verse poem written in first person narrative, with eight stanzas containing two couplets. The free structure of this poem allows Heaney to freely express his respect of the Irish tradition as well as his pride and dignity towards his ancestors.The techniques Heaney uses in this poem are simile and metaphoric.Also in the second last verse Heaney uses a listing device.Also he uses lieration which give added ethisis.Heaney also uses roots to describe his family roots. The poem starts and ends with the same lines "between my finger and my thumb & The squat pen rests" but the first stanza ends with "as snug as a gun" and the last stanza ends with "I'll dig with it." Thus, Heaney foregrounds the importance of the writer's profession and craft by breathing new life into the cliche idiom "the pen is mightier than the sword." Heaney affirms that he has decided to choose his own career path, as a writer. It is clear that Heaney feels confident that he is very skilled with a pen and demonstrates and proves that he is an accomplished poet by writing this very thought provoking poem. The title "Digging" is usually defined as an act of hard labor. It awakens our curiosity for we want to know the reasons why...
Words: 469 - Pages: 2
...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory Join Search Browse Saved Papers Home Page » Other Topics Study Habits In: Other Topics Study Habits CHAPTER 1 THE PROBLEM AND ITS BACKGROUND INTRODUCTION One of the major problems in teaching is the formation of desirable study habits among pupils in order to make them independent and effective learners. Some authors say that we should teach students not only what to learn but how to learn. Students stay in school for a limited time but learning is a lifetime process. Study is the stage of formal learning by means of which the individual undergoes changes in behavior through the achievement of knowledge, facts and information, and the establishment of desirable habits, skills, attitudes and appreciation in an efficient and economic way. The major task of the teacher is to motivate, encourage and assist students in effective study, to provide a strong motive and direct students in such a way that they may obtain good study habits. For one, developing good study habits leads to the accelerated reading power if the students enabling them to learn more root words that help them to understanding difficult lessons. Habit is important because its application and influence includes every aspect of human life. In studying, without the proper habits, learning would be faulty if not impossible, since education consists largely of the...
Words: 351 - Pages: 2
...Deforestation is cutting down of trees in the forest areas and within our surroundings which meets human natural needs and provides a dwelling to wild life and other animal species. The study of environmental changes through eco-feminist perspective helps to throw light on the effects of those changes, roles humans played in effecting those changes, gender roles, economic roles in the destruction of our environment through deforestation. According to Catharine Roach article “Love your Mother”, “the eco-feminist book Rape of the wild evokes this latter motif of the fertile but wounded earth by linking the violent treatment of women with violent against animals and the ecosystem (Roach, pg: 26)” this explain the power imbalance that exist in the system where a particular group in position of power sees everything under their control as powerless and an idea of exploitation. This is also the case in the issues of deforestation. Deforestation is deteriorating our environment which in some cases is as a result of increase in human population and it is disturbance as well as encroachment into other species and wild life territory causing their extinction. The increase in population and human quest for profit maximization also causes a huge impact in the environment and the ecosystem. Deforestation also occurs because lands are needed for cultivation and food production. Other evidences of economic effects on the extent of deforestation could be seen by looking at...
Words: 1500 - Pages: 6
...| Are diamonds investor’s best friend? | Study on polished diamonds as an alternative investment. | | Presented by:Daria GoldobinaStudent number:080006193Supervised by:Anh L. TranIn partial fulfilment of the:BSc Business Studies, Cass Business SchoolDate:24th March 2011I certify that I have complied with the guidelines on plagiarism outlined in the Course Handbook in the production of this dissertation and that it is my own, unaided work.Signature:__________________________________________ | | This work is dedicated to the memory of my beloved grandfather Ivan Smolin. He was a sweet, kind and sensitive man who devoted his life to studying precious stones and metals. He enriched my life with passion to beauty. If God wanted us to bend over he'd put diamonds on the floor Joan Rivers Contents Acknowledgements 3 Executive summary 7 I Introduction 10 Ground for discussion 10 Objectives 10 Methodology 11 II Literature review and hypothesis development 12 Overview 12 Introduction 12 History of diamonds 12 Industry structure 13 DeBeers cartel 15 Diamond valuation 16 Diamond valuation process 16 Determinants of diamond prices 18 Diamond as an investment 19 Types of investment 19 Problems associated with investing in diamonds 20 Benefits associated with investing in diamonds 20 Alternatives to investing in diamonds 23 Hypothesis development 25 III Methodology 26 Data collection 26 Primary research 26 Secondary...
Words: 19903 - Pages: 80
...described based on the way in which the study was conducted. We will discuss the research performance assessment in a paper by Rousseau titled Psychological Contract Inventory Technical Report (2000) based on those three areas I have mentioned previously. Rousseau use sample from US and Singapore in order to test the consistency of the test result. - Reliability Rousseau assessed whether PCI could lead researcher to consistent result. PCI use 5 scales questionnaire in four sets of question. These four sets are: relational, balanced, transactional, and transitional. Most of the scales have high reliability. Rousseau assesses it by using a statistics method. Rousseau state that “Initial analyses identified that several scales did meet the traditional standards for convergence and reliability (where a minimum Cronbach’s alpha coefficient is 0.7)”. Moreover, Rousseau identified some problematic scales such as Employer Narrow and Employer Security. As a conclusion, the PCI is a reliable tool. - Validity In order to test the validity of PCI, Rousseau use sample from US and Singaporean. PCI could be considered as a valid tool if the result for the US and Singaporean is similar. Factor analyses on the US-based sample are highly consistent with the total sample. On the other hand, Singaporean sample show some divergent pattern. Rousseau tried to identify the root cause of this divergence....
Words: 364 - Pages: 2
...is related to the so called sonox found in the water stream in near Riverside. First to start with I think that it is very important to note that Kardell Paper Company has had roots in this community since 1985. Many of Kardell’s employees are fellow residents as well as employees, and they have extreme concerned about the recent medical problems that has been growing in our community. These medical problems have been said to consist of miscarriages and respiratory issues. With that said these cause of these problems has not yet been determined. Legally speaking, Kardell Paper Company has always compliance with the provincial emission standards, and will continue to be in compliances. No agency has been able to conclude that Kardell Paper Company has or has not contributed to any sonox emissions into the water. Let us also be reminded of the fact that similar courses of action have been launched against other facilities, but all of the claims have been dismissed due to lack of conclusive evidence that the mills’ operations were the cause of any significant hazard in the area. We are concerned for the health and welfare of the residents of Riverside, and the Kardell Paper Company will do everything within their power to continue to comply with the current regulations of the industry. If it is determined that Kardell’s paper mill is solely responsible for the sonox issue, they should then take measure to eliminate, or at least minimize, the environmental hazards. In the meantime...
Words: 283 - Pages: 2
