monetary shocks considered are shocks to the interest rate reaction function equal to 1% compared to the steady-state value for one year. The temporary scal policy shocks correspond to an increase in spending or a decline in revenue for the government of 1% of the baseline GDP‚ for two years. A permanent shock‚ instead‚ consists on a permanent increase in government spending equal to 1% of the steady-state GDP. Benchmark Case: Response to Interest Rate Shocks The authors
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“I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.” The crowd cheered and roared when these words were delivered by Martin Luther King Jr. during his iconic Washington march speech in 1969. This was the time when America found itself torn apart in the racial conflicts. During the Civil Rights Movement‚ it was evident that not only black Americans but also many white Americans opposed
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Juliet’s mom : (in the middle of her presentation) Sorry‚ I have to make this call. (leave the room) Why do you call me? Romeo’s mom : Better tell your daughter to leave my son alone. I know your daughter just want something from this. Juliet’s mom : What do you mean? I don’t get it. Romeo’s mom : Just ask your daughter. (hang
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Texting and Driving Christian was a victim of a bad car accident. On February 12 Christian had just gotten his driver’s license and decided to go driving one late night. As he was texting his friends about a late party. While he looked down at a message a semi-truck collided into the side of the truck. Christian was then rushed to a hospital with very serious injuries. Although he survived he sometimes felt like he hadn’t. He had to spend the rest of his life in a wheelchair from being paralyzed
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The Relationship Between Relevance and Reliability Accounting information provided by accounting entity must reach a certain quality standard‚ so that it can meet the users’ needs of accounting information. Financial accounting information quality has four basic characteristics‚ can be understandability relevance‚ reliability and comparability. Two of the greatest impacts on the accounting of the main accounting policies are relevance and reliability. When we compare and contrast any two subjects
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understanding the concept of brand equity. Country of origin is another important variable influencing consumer perceptions of brands (Hulland‚ 1999) and brand images (Ahmed et al.‚ 2002). In the present study‚ consistent with the definition offered by Thakor and Katsanis (1997‚ pp. 79-80)‚ country of origin is defined as “the country in which the product is made”[1]. The impact of country of origin on consumer perceptions or evaluations of products is called the “country of origin effect” (Samiee‚ 1994).
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truth is relative; but that statement in and of itself is relative. We confuse knowledge with truth. Before the heliocentric theory‚ it was considered truth that the universe orbited the earth. The common knowledge of that day altered their truth. Our generation considers the statement "love is love" as truth. Yet‚ this same statement considered the highest of sins less than a few decades ago. Our society has made us believe truth is relative so we could all coexist. If truth is relative then truth
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CNH: Onshore deregulation‚ offshore expansion September 30‚ 2013 Interest rate strategy CNH: Onshore deregulation‚ offshore expansion DBS Group Research 30 September 2013 The Shanghai Free Trade Zone (SFTZ) opened on 29 Sep. According to the blueprint‚ financial innovations including RMB convertibility and interest rate liberalization are the priorities on the reform agenda (see “Shanghai Free Trade Zone & the reinvigoration of China”‚ 26 Sep 2013). These reforms will make the
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n the differences between absolute and relative morality Relativism and absolutism are two ethical theories that strongly differ in beliefs and opinions. A relativist person would believe that there are no absolute universal truths‚ truth is relative to the subject and can differ from person to person and society to society. Relativism considers the outcome of choices; a relativist will generally make decisions based on the likely outcome. On the other hand‚ an absolutist thinker believes that
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Annalen der Physik IV‚ 553 (1901) – peak in 1920s/30s Two major parts: modern relativity‚ first 4 - 6 lectures Quantum mechanics and its applications‚ rest of the course –also main content of Phys 312 to follow next quarter ---------------------------------------------------------- What is Physics all about? concepts and their connection‚ i.e. mathematically formulated equations/laws‚ concepts and laws are derived from interplay between theory and experiment‚ this makes sure only good theories
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