... contribution ofthe systematic factor andthe regulation to the total timely variation ofthe exposure is 17.24% and, therefore, 82.76% ofthe variation is due to idiosyncratic effects These effects ... disentangle the contributions ofthe systematic factor andofthe regulation One can expect some correlation between the regulatory variables outi (t) and out2i (t) on the one hand, andthe variables ... investigate the determinants ofthe banks’ exposure to interest rate risk They find that the belonging to certain banking groups, the banks’ size, their earnings and balance composition, andthe banks’...
... +1 ], (12) 0, otherwise, and where x is the value ofthe explanatory variable (the time distance to the merger, in our case) The values xi denote the “knots” ofthe spline, andthe coefficients, ... has been emphasized in the literature is the change of bank size Because banks grow in size when they merge, they might achieve efficiencies of scale On the other hand, as Park and Pennacchi ... individual bank and local market characteristics andthe complete list of bank mergers in the US The data allow us to track thedynamicsof bank mergers while controlling for the rigidity ofthe deposit...
... challenges, from the funding of scientific research andthe recruiting ofnew individuals into the fields of science andtechnology to the communication of both the value of science and specific ... to the sayings ofthe sages of old and modern times, I would like to offer my own definitions of culture and morality In my view, the mix ofthe beliefs and deeds of a society constitutes the ... scorching sun of their habitat by covering virtually all parts of their bodies On the other hand, the inhabitants ofthe wet tropics have to minimize their clothing to enhance the ventilation ofthe body,...
... disappearance ofthe author and style; in link through the disappearance ofthe image in the icon; in network through the disappearance of cable in mobile and satellite - towards the disappearance ofthe ... wax image ofthe prototype” In Gell’s theory the index is located in the region where the sphere of agency (the primary agent) overlaps with the vulnerability ofthe causal milieu ofthe recipient ... interaction and communication topologies, the act of theft is where the people is deprived of their rights to re-use and re-create their own schemes of interaction with the devices they share...
... on the second moment ofthedistribution Although the inputs have an impact on the dependent variable, this result, in light ofthe law of diminishing marginal productivity, supports the hypothesis ... particular technology in the prevention of stroke andthe corresponding rates of utilization in the US and Canada They show that utilization rates increased dramatically between 1989 and 1995 following ... However, given the paucity ofthe data andthe di¢ culty in measuring medical technology at the country level, we assume that technology is unobserved, and proxy for it by means of a spatial process...
... opportunities As a result, new products and services are developed, newbusinesses arise and newjobs are created We also know that practices like the offshoring of jobs andthe relocation of manufacturing ... Although the large companies stand out, we can see that huge areas ofthe tunnel walls are covered in a patchwork of many thousands of much smaller panels These are the products and services offered ... softly make contact and then bounce back toward the center ofthe tunnel As the lights touch the panel, we notice that they dim slightly while the panel itself pulses with new energy New cars have...
... cutting jobs andthe flow ofnew middle class people into the tunnel has all but stopped As a result ofthe job cuts, the lights are becoming even more sparse in the tunnel Many ofthe businesses ... failing and whole regions ofthe tunnel walls are growing dark Now we see that many ofthe very brightest lights in the tunnel finally feel the impact and also begin to lose their light The owners of ... to lower their prices As a result, their profits, and therefore the wealth of their top employees and shareholders increased These were the brighter lights in the tunnel that initially became stronger...
... quickly attracted the notice ofthe Securities and Exchange Commission and may result in newregulation As these examples show, we can expect that the rate of change andthe volatility of nearly everything ... clearly that thenew job types created by technology are very often themselves quickly vaporized by the same phenomenon The IT jobs that are now being offshored and automated are brand new jobs that ... facing down, or with the lenses up Or perhaps the glasses are open with the lenses oriented vertically Or maybe one side ofthe glasses is open andthe other closed And, of course, the glasses could...
... our food—all of these and countless thousands of other structures and chemicals that comprise our bodies and make us function are proteins And they are all constructed through nanotechnology It ... alien technologyand attempting to reverse-engineer it In time, they might begin to tinker with the spacecraft and make it operate in newand different ways Eventually, they would understand thetechnology ... available Nonetheless, the field offers enormous promise and may someday touch nearly every aspect of our lives Amazing new treatments and cures in the field of medicine, the possibility of generating...
... with the number of retired persons in most countries, and second the number of workers (and the wages they are willing to accept) in developing nations like China as compared with the number of ... effortlessly across borders, and (3) The fall of Soviet-style communism andtheadoptionof market-based economies throughout the world This has resulted in hundreds of millions of workers who were previously ... this projection, then the ramifications for the rest ofthe world will be enormous In the West, we look to the impending economic might of China with mixed emotions On the one hand, we worry about...
... distributionof incomes in the United States and then eliminate both the richest andthe poorest people Then graph the average income ofthe remaining “typical” people (the bulk of consumers) over time ... advantage of those newly acquired skills Future technology will result in the creation of entirely new industries, and these industries will offer new employment opportunities History has shown that the ... but also often mired in bureaucracy In the midst of this, India has an isolated island of enormous growth and prosperity: its software and offshoring industries India will face exactly the same...
... to recapture just the optimal amount of income and then get it into the hands of consumers so that there will be sufficient consumer demand to continue driving the economy Once the income has been ... resources, and, of course, the climate change effects associated with the emission of carbon dioxide and other greenhouse gasses Technology Production is also limited by the sophistication ofthe machines, ... system might be extended to the poorest regions ofthe world Attacking Poverty Most of us understand that there is a basic inequity in the fact that the vast majority ofthe world’s wealth resides...
... dark The entrepreneurs and business owners in the tunnel are responding to the rapidly increasing demand As the number of lights continues to increase, the speed with which panels are updated and ... Additionally, the process of creative destruction will destroy old industries and create new ones, and very few of these new industries are likely to be labor intensive As a result, the overall ... nursing Therefore, in considering the overall impact of machine automation, the important criterion is not the number of workers available but the types of jobs that can be automated To the extent...
... centrally planned economy, and perhaps most chillingly, the overthrow of governments and a “dictatorship ofthe proletariat.” In the wake ofthe collapse of communism, these ideas have been shown ... http://www.foreignaffairs.org/19971101faessay3815/alan-sblinder/is-government-too-political.html 50 Jeremy Rifkin, The End of Work: The Decline ofthe Global Labor Force andthe Dawn ofthe Post-Market Era, NewYork, Penguin Group, 1995 49 Chapter 4: Transition ... Paperback/Kindle available @ Amazon THE LIGHTS IN THE TUNNEL / 244 man judge The other participants are another person and a machine—both of whom attempt to convince the judge that they are human by conducting...
... quickly attracted the notice ofthe Securities and Exchange Commission and may result in newregulation As these examples show, we can expect that the rate of change andthe volatility of nearly everything ... clearly that thenew job types created by technology are very often themselves quickly vaporized by the same phenomenon The IT jobs that are now being offshored and automated are brand new jobs that ... facing down, or with the lenses up Or perhaps the glasses are open with the lenses oriented vertically Or maybe one side ofthe glasses is open andthe other closed And, of course, the glasses could...
... our food—all of these and countless thousands of other structures and chemicals that comprise our bodies and make us function are proteins And they are all constructed through nanotechnology It ... alien technologyand attempting to reverse-engineer it In time, they might begin to tinker with the spacecraft and make it operate in newand different ways Eventually, they would understand thetechnology ... available Nonetheless, the field offers enormous promise and may someday touch nearly every aspect of our lives Amazing new treatments and cures in the field of medicine, the possibility of generating...
... with the number of retired persons in most countries, and second the number of workers (and the wages they are willing to accept) in developing nations like China as compared with the number of ... effortlessly across borders, and (3) The fall of Soviet-style communism andtheadoptionof market-based economies throughout the world This has resulted in hundreds of millions of workers who were previously ... this projection, then the ramifications for the rest ofthe world will be enormous In the West, we look to the impending economic might of China with mixed emotions On the one hand, we worry about...
... (1) Some ofthe income accrues to the owners and managers ofthe business, and (2) some ofthe income is redirected to the consumers ofthe business’s products or services in the form of lower ... given up half of everything he had, if he could have been certain of retaining the other half of his fortune under the rule of law Clearly, the risks are very real, not just for the bulk of people ... stream of income into the hands of consumers, and as we have seen, that is absolutely essential in order to create sustained demand for mass market products and services and therefore drive the...
... dark The entrepreneurs and business owners in the tunnel are responding to the rapidly increasing demand As the number of lights continues to increase, the speed with which panels are updated and ... Additionally, the process of creative destruction will destroy old industries and create new ones, and very few of these new industries are likely to be labor intensive As a result, the overall ... nursing Therefore, in considering the overall impact of machine automation, the important criterion is not the number of workers available but the types of jobs that can be automated To the extent...
... quickly attracted the notice ofthe Securities and Exchange Commission and may result in newregulation As these examples show, we can expect that the rate of change andthe volatility of nearly everything ... clearly that thenew job types created by technology are very often themselves quickly vaporized by the same phenomenon The IT jobs that are now being offshored and automated are brand new jobs that ... facing down, or with the lenses up Or perhaps the glasses are open with the lenses oriented vertically Or maybe one side ofthe glasses is open andthe other closed And, of course, the glasses could...