Monetary Policy and the Financial Crisis of 2007-2008 Stephen G. Cecchetti* Revised 3 April 2008 *This essay was written while the author was the Barbara and Richard M. Rosenberg Professor of Global Finance‚ Brandeis International Business School; and a Research Associate‚ National Bureau of Economic Research. Note that as this draft was written‚ events were continuing to unfold. Hopefully‚ what I have written in February and March 2008 remains accurate. Among the vast number of people I spoke
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of the oceans from a massive oil spill in the Gulf of Mexico‚ perhaps the largest in history‚ spread expeditiously. Due to cameras‚ leaks in the pipe buried on the ocean floor had been discovered. By the time the pipe leaks had been revealed‚ barrels of oil had secreted into the Gulf ruining reefs‚ destroying habitats‚ and killing animals in its path that dispersed throughout the Gulf by the wind and waves. The BP Oil Spill‚ also known as the Deepwater Horizon Spill‚ has cost billions of dollars for
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of the Hong Kong Economy after the Financial Crisis Cao Hongliu School of Management‚ Guangdong University of Technology‚ Guangdong‚ P.R.China‚ 510520 (E-mail: hongliucao@126.com) Abstract This paper analyzes the current economic development and the status of leading industries in Hong Kong. It shows that Hong Kong economy‚ which is mainly comprised of the service industry in particular‚ facing with both opportunities and challenges after the financial crisis. Hong Kong economy has a wide range
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large and growing industry. It facilitates economic growth‚ world trade‚ international investment and tourism and is therefore central to the globalization taking place in many other industries (Airline Industry‚ 2000). In Globalization era‚ Airplane industries are really important to move people to another place. It’s really reliable and secure. Compare with five decades ago. Airplane was frightening and costly. People try to find new technological innovation in airplane industry to devoted passenger
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Louisiana coast has experienced countless oil spills but unlike those BP’s oil spewed directly from the bottom of the ocean. It is difficult to accurately determine the complete extent of the damage caused by the oil spill because data on the condition of the environment in that area before the disaster is lacking. Even now the effect on organisms such as those in deep-water marine communities is hard to determine. But one thing is certain; the oil spill impacted every level of the complex environment
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BP oil spill is ranked as the largest environmental disaster in the world history. As the oil from BP spill washes ashore‚ people on Gulf Coast are suffering huge damages they have never met before. The U.S. government estimates that up to 60‚000 barrels of oil a day are spewing out from the damaged BP drilling rig to Gulf of Mexico. It has ruined the shoreline‚ killed animal and sea life‚ threaten the ecosystem and harmed the tourism and fishing in Louisiana. After the spilling happened‚ US government
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rosar.dauria@gmail.com Phone: 927672892 Assignment #2 – HIGH TECH INDUSTRIES AND KNOWLEDGE INTESIVE SERVICES Due date: 17-NOV-2011 It doesn’t exist a single authoritative methodology to define high-tech industries. The organization for Economic Co-operation and Development (OECD) identifies high-tech industries based on a comparison industry R&D intensities‚ a calculation dividing industry R&D expenditures by industry sales. Industries identified as high-tech are: aerospace‚ pharmaceuticals
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The crisis of the 1620’s involved the final years of King James I of England/VI of Scotland‚ the beginning of the reign of King Charles I‚ and the breakdown between the Crown and Parliament. Why was it referred as a crisis-era for some historians? The two kings’ personalities differed‚ ultimately reflecting their different views of kingship‚ alongside matters regarding the balance between the royal prerogatives and the parliament privileges. Parliament approached both kings differently. They used
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since some of the results may be preliminary. Further‚ the findings‚ interpretations and conclusions expressed in this paper are entirely those of the author(s). Paper does not imply endorsement by the Institute of Developing Economies of any of the facts‚ figures‚ and views expressed. The Institute of Developing Economies does not guarantee the accuracy of the data included in this paper and accepts no responsibility whatsoever for any consequence of their use. ACKNOWLEDGEMENTS This research
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Explain the different stages of a financial crisis and compare the financial crisis 2007-2010 with that of the Great Depression 1929. * What is a financial crisis? There is no precise definition of a financial crisis. It can be explained as a situation where disruption in financial markets leads to adverse selection and moral hazard problems to worsen‚ thus preventing financial markets to efficiently direct funds. A financial crisis thus results to a sharp contraction in the economy and may leads
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