government s promises are incredible independent central banks

... the possible content of such measures The constructive proposals resulting from these discussions are set out in Section and will sit alongside the changes to audit arrangements which the Government ... comments on the quality assurance processes for National Statistics and is able to carry out spot checks on departmental or other National Statistics If necessary, the Statistics Commission can ... Government s response recognises such differences and variations whilst accepting that a greater degree of consistency is possible in some areas Stakeholder interests The Government welcomes the recognition...

Ngày tải lên: 29/03/2014, 22:20

... Interest Rate Central Bank s Response to Asset-Price Bubbles • Two Types of Asset-Price Bubbles – Credit-Driven Bubbles – Bubbles Driven by Irrational Exuberance • Central Banks Response to Bubbles ... producers/general public • Strong dependence on the preferences, skills and trustworthiness of the central bank staff Summary of Advantages and Disadvantages of Different Monetary Policy Strategies ... falling in time-inconsistency trap – Stresses transparency and accountability • Disadvantages – – – – Delayed signaling Too much rigidity Potential for increased output fluctuations Low economic growth...

Ngày tải lên: 05/01/2014, 16:58

... traditional central bank assets, such as sovereign and supranational debt, as well as possibly bonds issued by government sponsored enterprises, at little additional risk Some of these newer asset classes ... commercial banks, but only a few central banks invest in corporate bonds Several others are, however, exploring the possibilities As credit risk exposure grows, central banks must necessarily invest ... does not focus on spread risk It is well known that the return distribution of credit instruments is very asymmetric (or “skewed”) towards losses This is because losses (as a result of defaults...

Ngày tải lên: 16/02/2014, 10:20

... balances These results are consistent with theoretical results that show that tightening without draining is possible, irrespective of whether excess reserves are large or small Keywords: excess reserves, ... experiences of the central banks during episodes of tightening Section offers some brief concluding remarks These sections are followed by two appendixes The first presents the eight case studies that ... tail-event settlement needs Balances held in excess of the limit earn interest at a rate equal to the OCR less 100 basis points Thus, balances in excess of the tier are similar to excess reserves or...

Ngày tải lên: 17/02/2014, 03:20

... Memorandum request was 9-702 business days, and two requests are still pending over 750 business days later The range for the sensitive unclassified information requests was 6-186 business days, and nine ... PROPIN/NRC (4) SBU/State (2-9) CAI/EPA (2,5) SSI/USDA (2-4, 7) WMD/State (2, 4) SHSI/NRC WMD/State WMD/Treas PCII/FAA SBU/CDC SBU/GSA SSI/TSA SSI/USDA DEA Sensitive Sensitive/DOD SGI/NRC Technical/DOD ... Policy Sensitive But Unclassified (SBU) Sensitive But Unclassified (SBU) Sensitive But Unclassified (SBU) [DHS] Sensitive But Unclassified (SBU) [DHS] For Official Use Only (FOUO) [DOD] Computer Security...

Ngày tải lên: 18/02/2014, 05:20

... 29 is adjusted, the national central banks shall transfer among themselves capital shares to the extent necessary to ensure that the distribution of capital shares corresponds to the adjusted ... banknotes issued by the ECB and the national central banks shall be the only such notes to have the status of legal tender within the Community The ECB shall respect as far as possible existing ... central bank 's monetary income shall be equal to its annual income derived from its assets held against notes in circulation and deposit liabilities to credit institutions These assets shall be earmarked...

Ngày tải lên: 06/03/2014, 10:20

... institutions Facilitating or organising private sector solutions to problem situations Conducts, authorises or supervises sales of assets and other transactions in resolving failed institutions Resolves ... institutions Facilitating or organising private sector solutions to problem situations Conducts, authorises or supervises sales of assets and other transactions in resolving failed institutions Resolves ... liquidity assistance to depositories Emergency solvency assistance to depositories Emergency liquidity assistance to non-depositories Emergency solvency assistance to non-depositories Honest brokering...

Ngày tải lên: 06/03/2014, 10:20

... a classical perspective, the likelihood-based ı, estimation procedure uses the optimal set of instruments if the model is correctly specified GMM estimation is less accurate, since it uses suboptimal ... Although terms of trade movements not play a substantial role in domestic business cycles, this finding lends support to the conclusion that central banks respond to exchange rates to smooth the ... structural shocks 37 Figure 2: Impulse Responses for Canada: ψ3 = Notes: Figure depicts posterior means (solid lines) and pointwise 90% posterior probability intervals (dashed lines) for impulse responses...

Ngày tải lên: 06/03/2014, 14:20

... to so-called direct causes such as severe bleeding, primarily during the postpartum period; sepsis; unsafe abortion; eclampsia; and obstructed labor (see Figure B-1).2 Sometimes diseases, such ... address MNCH are the following: • expanding information and services for adolescent girls, including FP/RH messages; •  eveloping and carrying out strategies to address health system weaknesses ... With an emphasis on mass drug administration to address these diseases, the NTD Initiative reports that 50% of the recipients were women.36 THE U .S GOVERNMENT S EFFORTS TO ADDRESS GLOBAL MATERNAL,...

Ngày tải lên: 16/03/2014, 05:20

... policy surprises, rising by around basis points in response to an unexpected cash rate increase of 10 basis points (Figure 1) This response falls steadily as the settlement date becomes more distant ... communication strategies of the six central banks (Figure 6) The results suggest that across the six economies, central banks have used parliamentary hearings, commentaries with policy decisions and ... policy is very similar across these central banks This suggests that, despite differences in the communication framework, central banks in these economies convey information to financial markets to...

Ngày tải lên: 22/03/2014, 23:20

... Envirowise has also engaged with businesses on specific initiatives For example, it is collaborating with Severn Trent Water to support its key business customers in assessing their water use and identifying ... supply side measures, such as reservoirs Each option has costs, benefits, risks and uncertainties, and each water company needs to find the most sustainable and cost effective balance of measures ... based on rateable values from the 197 0s, is increasingly indefensible, particularly in water stressed areas As less than one third of customers have a water meter, this means that for most customers...

Ngày tải lên: 23/03/2014, 00:20

... Eurosystem foreign reser ve assets are owned and managed by the NCBs Transactions in those reser ve assets are regulated by the Eurosystem In particular, transactions above certain thresholds require ... its predecessor, in which all payments were processed decentrally by the national central banks, the new system uses a single shared platform with no inter vention by the central banks This platform ... ministers of economics and finance of the euro area member countries The ministers discuss issues connected with their shared responsibilities in respect of the single currency The European Commission...

Ngày tải lên: 29/03/2014, 08:20

... presents analogous estimates for the Euro-system, for two different measures of banks reserve demand: excess reserves, as in Table for the U .S. , and the sum of excess reserves and banks deposits ... comparison purposes, an ordinary-least-squares estimate of the reduced-form equation in which the reserves “miss” is used as a regressor instead of as an instrument for excess reserves Both estimations ... targets to be pursued rather than instruments to be set Deposits are demanded by households and firms, and supplied by banks and other issuers, in both cases in ways that are subject to central...

Ngày tải lên: 29/03/2014, 13:20

... statements must also be a fact? I Titanium eyeglass frames cost more than plastic frames II Expensive eyeglass frames last longer than cheap frames III Only a few eyeglass frames cost less than ... pictures Fact 3: Some storybooks have words If the first three statements are facts, which of the following statements must also be a fact? I Some drink mixes are red II All beverages are drink mixes ... statements are true, the third statement is a true b false c uncertain 63 – QUESTIONS – Set 25 383 Tom puts on his socks before he puts on his shoes (Answers begin on page 128.) Here s your last set...

Ngày tải lên: 18/06/2014, 17:20

... 10 sows (only 1.6%) and 20 sows (0.5%), so we can think how many sows farmers in this areas can raise for project models, in strategies, we advise them to raise in their system from 10 sows depend ... between ecosystems and breeds The figure was showed the strong effects of ecosystems and suggested the alternatives for region, which are suitable for each ecosystem to avoid infected diseases There ... Spinach 84 10 Sweet potato leaves 165 76 Banana 13 Cassava silage 13 crop residues Brewer residues 184 89 Food remain 102 57 Fish meal 44 12 Salt fish 42 20 Shrimp residues Fresh fish 43 28 Supplement...

Ngày tải lên: 21/06/2014, 06:20

... other social works Basing on losses by natural disasters, the Prime Minister issues specific decisions on relief assistance After two floods in the Central in 2010, the Prime Minister promulgates ... in regions damaged by natural disasters, dangerous diseases 23 regulates that the Central government will use central budget to cover 80% of losses caused by natural disasters, diseases in the ... cover 70% of losses caused by natural disasters, diseases For the provinces of heavy losses: if the local budget expenditure for farmers in regions affected by disasters, diseases exceeds 50% of local...

Ngày tải lên: 23/07/2014, 00:20

... methicillin-resistant S epidermidis; MSSE: methicillin-susceptible S epidermidis; MRSA: methicillin-resistant S aureus; MSSA: methicillin-susceptible S. aureus; MRSH: 20 methicillin-resistant S haemolyticus; ... methicillin-resistant S epidermidis; MSSE: methicillin-susceptible S. epidermidis; MRSA: methicillin-resistant S aureus; MSSA: methicillin-susceptible S aureus; MRSH: methicillin-resistant S haemolyticus; ... proposed by the Centers for Disease Control and Prevention (CDC) [7] Statistical analysis was performed using SPSS v 15.0 Results are presented as Mean values + Standard Deviation (SD) Statistically...

Ngày tải lên: 10/08/2014, 09:22

... activities in their jurisdictional areas The establishment of the commission and the committees demonstrates that the Chinese government has intensified its efforts to curb drug abuse In Li et al Harm ... programs Only one VCT intervention study among drug users has been successfully implemented by an NGO and published in China so far [36] The success of this NGO-led intervention program suggests that ... practices This review demonstrates that harm reduction programs have been successfully implemented in most cases and yielded positive effects in reducing drug related risk behaviors among drug users...

Ngày tải lên: 11/08/2014, 18:20

... central banks are part of society central banking needs to refer to circumstances Central banks shape circumstances by their communicative interactions This chapter discusses the forecast-based ... precision As is appropriate for all sciences, economics uses particular concepts, categories, symbols, and codes in describing and explaining its scientific results Scientific terms are used in ... as precise as possible and to avoid disputes about their meaning Similar to different branches in macroeconomics, central bank literature uses systems of codes Their meaning is easily understood...

Ngày tải lên: 30/10/2014, 17:23