WorldWideScience

Sample records for reserved depositing money

  1. Your Money and the Federal Reserve System.

    Science.gov (United States)

    Federal Reserve Bank of Minneapolis, Minn.

    The booklet explores various roles which money has played throughout history and examines the relationship between money and the Federal Reserve System. The major objective is to increase understanding of the performance of various functions such as making money work as a medium of exchange and as a measure of value and of storing value for future…

  2. How Required Reserve Ratio Affects Distribution and Velocity of Money

    OpenAIRE

    Xi, Ning; Ding, Ning; Wang, Yougui

    2005-01-01

    In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank loans and the monetary aggregate is determined by the monetary base and the required reserve ratio. It is shown that monetary wealth follows asymmetric Laplace distribution and latency time of money fo...

  3. How required reserve ratio affects distribution and velocity of money

    Science.gov (United States)

    Xi, Ning; Ding, Ning; Wang, Yougui

    2005-11-01

    In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank loans and the monetary aggregate is determined by the monetary base and the required reserve ratio. It is shown that monetary wealth follows asymmetric Laplace distribution and latency time of money follows exponential distribution. The expression of monetary wealth distribution and that of the velocity of money in terms of the required reserve ratio are presented in a good agreement with simulation results.

  4. Deposit Money Creation in Search Equilibrium

    OpenAIRE

    Keiichiro Kobayashi

    2002-01-01

    The endogenous creation of bank credit and of deposit money is modeled. If banks have a limited ability to commit to making interbank loans, then, in order for bank deposits to be accepted as liquid assets, an upper bound is placed upon the size of each bank's asset portfolio, where the bound is determined as a certain multiple of the bank's capital. In our search model, the Central Limit Theorem implies that the multiplier is a non-linear function of the aggregate level of bank assets. Thus ...

  5. 12 CFR 561.28 - Money Market Deposit Accounts.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Money Market Deposit Accounts. 561.28 Section 561.28 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY DEFINITIONS FOR REGULATIONS AFFECTING ALL SAVINGS ASSOCIATIONS § 561.28 Money Market Deposit Accounts. (a) Money Market...

  6. 24 CFR 291.535 - Earnest money deposit.

    Science.gov (United States)

    2010-04-01

    ... less than $500 and no more than $2,000. (c) Acceptance or rejection of offer. If an offer is accepted, the earnest money deposit will be credited to the purchaser at closing. If the offer is rejected, the... sum of money that must be paid by the law enforcement officer, teacher, or firefighter/emergency...

  7. 11 CFR 100.111 - Gift, subscription, loan, advance or deposit of money.

    Science.gov (United States)

    2010-01-01

    ... money. 100.111 Section 100.111 Federal Elections FEDERAL ELECTION COMMISSION GENERAL SCOPE AND..., advance or deposit of money. (a) A purchase, payment, distribution, loan (except for a loan made in accordance with 11 CFR 100.113 and 100.114), advance, deposit, or gift of money or anything of value, made by...

  8. 11 CFR 100.52 - Gift, subscription, loan, advance or deposit of money.

    Science.gov (United States)

    2010-01-01

    ... money. 100.52 Section 100.52 Federal Elections FEDERAL ELECTION COMMISSION GENERAL SCOPE AND DEFINITIONS..., advance or deposit of money. (a) A gift, subscription, loan (except for a loan made in accordance with 11 CFR 100.72 and 100.73), advance, or deposit of money or anything of value made by any person for the...

  9. The Australian money market and the operations of the Reserve Bank of Australia: a comparative analysis

    OpenAIRE

    Michael Dotsey

    1987-01-01

    This article provides a comparative analysis of central bank operating procedures in Australia and the United States. It also examines the effect that the structure of overnight money markets, reserve requirements, and central bank lending procedures have on monetary control in both countries. Evidently the Australian financial structure is such that an interest rate instrument provides superior control of money, a result that may not hold in the United States.

  10. BASIC Programming for the Integration of Money, Demand Deposits Creation, and the Hicksian-Keynesian Model.

    Science.gov (United States)

    Tom, C. F. Joseph

    Money, banking, and macroeconomic textbooks traditionally present the topics of money, the creation of demand deposits by depository institutions, and the Hicksian-Keynesian Theory of Income and Interest separately, as if they were unrelated. This paper presents an integrated approach to those subjects using computer programs written in BASIC, the…

  11. Causal Relationship between Liquidity and Profitability of Nigerian Deposit Money Banks

    OpenAIRE

    Odunayo M. Olarewaju; Oluwafeyisayo K. Adeyemi

    2015-01-01

    The aim of this paper is to examine the existence and direction of causality between liquidity and profitability of deposit money banks in Nigeria. Fifteen quoted banks out of the existing nineteen banks were selected for the study. They are; Guarantee Trust bank, Zenith bank, Skye bank, Wema bank, Sterling bank, First City Monument bank, United Bank for Africa, Eco bank, First bank, Access bank, Diamond bank, Unity bank, Fidelity bank, Union bank and IBTC bank. Pairwise Granga Causality test...

  12. 12 CFR 965.3 - Liquidity reserves for deposits.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Liquidity reserves for deposits. 965.3 Section 965.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK LIABILITIES SOURCE OF FUNDS § 965.3 Liquidity reserves for deposits. Each Bank shall at all times have at least an amount...

  13. Debate: Money, Money, Money

    Directory of Open Access Journals (Sweden)

    Nina Ilona Ellinger

    2014-09-01

    Full Text Available The question: ‘What would be the best way to use ten million dollars?’ leads to many other questions when related to anti-trafficking work. What should the money be spent on? Who should be appointed to spend the money? And, perhaps most importantly, who should be the beneficiaries? In other words, are the ten million dollars to prevent trafficking of people meant for activities to stop smuggling of people, to stop unwanted migrants, or to protect and uphold people’s rights when they move across borders and need to be protected from trafficking? Would the money be best spent on anti-trafficking work, or would it be better spent on strengthening the rights of all migrants to minimise the risk of trafficking?

  14. Debate: Money, Money, Money

    OpenAIRE

    Nina Ilona Ellinger; Seeta Sharma

    2014-01-01

    The question: ‘What would be the best way to use ten million dollars?’ leads to many other questions when related to anti-trafficking work. What should the money be spent on? Who should be appointed to spend the money? And, perhaps most importantly, who should be the beneficiaries? In other words, are the ten million dollars to prevent trafficking of people meant for activities to stop smuggling of people, to stop unwanted migrants, or to protect and uphold people’s rights when they move ...

  15. Use of gamma logging for calculating reserves of hydrogenic deposits

    International Nuclear Information System (INIS)

    Polkanov, Yu.G.

    1992-01-01

    Recently, in studies of hydrogenic deposits of uranium, great importance was laid on investigating the effect of radium halos, incorrect accounting of which leads to overestimates of the depth of the mineralization and to errors in determining the uranium content by radiographic methods. Radium halos are located both in the rear and in the front of ore deposits. Ores located in the front of ore deposits are primarily formed from the diffusion of radium into rocks near the ores. Radium halos located in the rear of the deposits are called residual halos. They are caused by the retention of radium in sections from which the uranium already has been carried away. In order to consider the radium halos, which are confined to zones of stratified oxidation and adjoining ore intervals, one uses the dependence of the edge mass fraction of radium at the boundaries of the (uranium) ore intervals on the average radium mass fraction in the intervals. This method makes it possible to separate with satisfactory accuracy sections on the γ-ray logging curves which corresponds to zones of stratified oxidation (red-colored rock) and to exclude them in calculating the reserves

  16. A Goldsmith Exercise for Learning Money Creation

    Science.gov (United States)

    Pearlman, Sarah; Rebelein, Robert P.

    2013-01-01

    In this article, the authors outline a classroom exercise involving goldsmiths designed to improve undergraduate students' understanding of how banks create money. This concept is important to macroeconomics and money and banking courses, yet students frequently struggle with it, largely due to the nonphysical nature of deposits and reserves.…

  17. A General Outlook to the Endogenous Money Theory

    OpenAIRE

    ÖZGÜR, Gökçer

    2008-01-01

    The purpose of this study is to shed light on theorigins of the endogenous money theory and analyze the currentdebates on this topic. Endogenous money approach depends on a fundamental postulate: As banks meet the credit needs ofnon-financial businesses, new deposits emerge in the banking sector. Similarly,as the necessary reserves found for these new deposits the broad money expandsas well. Even though the central bank can intervene into this process it cannotfully control it. There...

  18. Designing New Money

    DEFF Research Database (Denmark)

    Bjerg, Ole

    simultaneously only pursue two out of the following three policy objectives: Free convertibility between CBDC and bank money, parity between CBDC and bank money, and central bank monetary sovereignty, which is the use of monetary policy for anything else than support for commercial bank credit creation......The prospect of central banks issuing digital currency (CBDC) immediately raises the question of how this new form of money should co-exist and interact with exist-ing forms of money. This paper evaluates three different scenarios for the imple-mentation of CBDC in terms of their monetary policy...... implications. In the ‘money user scenario’ CBDC co-exists with both cash and commercial bank deposits. In the ‘money manager scenario’ cash is abolished and CBDC co-exists only with commer-cial bank deposits. And in the ‘money maker scenario’ commercial bank deposits are abolished and CBDC co-exist only...

  19. Redefining the money market

    African Journals Online (AJOL)

    point of the yield curve, and the short-term interest ratei is a critical input in the .... They “set” the rates for bank call money and for bankers' acceptances and .... sector deposits in the main), and interest rate / price discovery. There are six financial markets: • Money market (expanded upon below). • Bond market (which is the ...

  20. Money creation and destruction

    OpenAIRE

    Faure, Salomon; Gersbach, Hans

    2016-01-01

    We study money creation and destruction in today’s monetary architecture and examine the impact of monetary policy and capital regulation in a general equilibrium setting. There are two types of money created and destructed: bank deposits, when banks grant loans to firms or to other banks and central bank money, when the central bank grants loans to private banks. We show that equilibria yield the first-best level of money creation and lending when prices are flexible, regardless of the monet...

  1. 78 FR 34169 - Notice of Finding That Liberty Reserve S.A. Is a Financial Institution of Primary Money...

    Science.gov (United States)

    2013-06-06

    ... identity theft to create multiple fraudulent corporate accounts with an online broker/dealer and funded the... the identity of the exchangers and request from them ``a compromise to verify the identity of their... policy states that it will verify the identity of any direct client of Liberty Reserve ``according to the...

  2. Depositional sequences and facies in the Torok Formation, National Petroleum Reserve, Alaska (NPRA)

    Science.gov (United States)

    Houseknecht, David W.; Schenk, Christopher J.

    2002-01-01

    Brookian turbidites (Cretaceous through Tertiary) have become oil exploration objectives on the NorthSlope of Alaska during the past decade, and it is likely this focus will extend into the National Petroleum Reserve-Alaska (NPRA). A regional grid of 2-D seismic data, sparse well control, and field work in the Brooks Range foothills provide constraints for an ongoing effort to establish a sequence stratigraphic framework for Brookian turbidites in the Torok Formation across NPRA. The Torok Formation and overlying Nanushuk Formation (both mostly Albian) display the overall seismic geometry of bottomset-clinoform-topset strata indicating northeastward migration of a shelf margin. Within bottomset and clinoform strata of the Torok, depositional sequences have been identified that represent four distinct phases of shelf-margin sedimentation. (1) Regression, representing low relative sea level, is characterized by the development of an erosional surface on the shelf and upper slope, and the deposition of turbidite channel deposits on the middle to lower slope and submarine fan deposits at the base of slope. These deposits constitute a lowstand systems tract (LST). (2) Transgression, representing rising relative sea level, is characterized by the deposition of a mudstone drape on the basin floor, slope, and outer shelf. This drape comprises relatively condensed facies that constitute a transgressive systems tract (TST). (3) Aggradation, representing high relative sea level, is characterized by the deposition of relatively thick strata on the outer shelf and moderately thick mudstones on the slope. (4) Progradation, also representing high relative sea level, is characterized by the deposition of relatively thin strata on the outer shelf and very thick mudstones on the slope. Together, deposits of the aggradation and progradation phases constitute a highstand systems tract (HST). Large scale geometries of Torok strata vary across the Colville basin. In southern NPRA, high

  3. Recovery and money management.

    Science.gov (United States)

    Rowe, Michael; Serowik, Kristin L; Ablondi, Karen; Wilber, Charles; Rosen, Marc I

    2013-06-01

    Social recovery and external money management are important approaches in contemporary mental health care, but little research has been done on the relationship between the two or on application of recovery principles to money management for people at risk of being assigned a representative payee or conservator. Out of 49 total qualitative interviews, 25 transcripts with persons receiving Social Security insurance or Social Security disability insurance who were at risk of being assigned a money manager were analyzed to assess the presence of recognized recovery themes. The recovery principles of self-direction and responsibility were strong themes in participant comments related to money management. Money management interventions should incorporate peoples' recovery-related motivations to acquire financial management skills as a means to direct and assume responsibility for one's finances. Staff involved in money management should receive training to support client's recovery-related goals. (PsycINFO Database Record (c) 2013 APA, all rights reserved).

  4. Money laundering

    OpenAIRE

    Kryvosheieva, Ganna

    2017-01-01

    The thesis deals with evaluation of ant-money laundering effectiveness. In theoretical part money laundering, FATF (Financial Ask Task Force) and AML(anti-money laundering) are defined. Practical part concentrates on the biggest scandals of the latest years and assessment of AML effectiveness. Based on this evaluation, weak places in AML mechanisms were identified. Additionally, tools of AML improvement were determined.

  5. The Evolution of Paper Money

    OpenAIRE

    Levintal, Oren; Zeira, Joseph

    2009-01-01

    This paper tells the story of how paper money evolved as a result of lending by banks. While lending commodity money requires holding large reserves of commodity money to ensure liquidity, issuing convertible paper money reduces these costs significantly. The paper also examines the possibility of issuing inconvertible notes and shows that while they further reduce the cost of borrowing they also have adverse effects on the stability of the banking system. As a result, governments often inter...

  6. Ore reserve calculations of a sedimentary uranium deposit in Figueira, PR-Brazil

    International Nuclear Information System (INIS)

    Guerra, P.A.G.; Censi, A.C.; Marques, J.P.M.; Huijbregts, Ch.

    1978-01-01

    The are reserve calculations of a sedimentary uranium deposit in Figueira-PR-Brazil are presented. The evalution of reserves was based on chemical and/or radiometric analisys from boreholes. Geoestatistical methods were used to study the spacial correlation between radiometric and'in situ' uranium content and to calculate the equivalent uranium content without the need for chemical analysis. To this end, a new method was developed based on the regression between accumulated chemical and radiometric grades as determined by increasing thicknesses defined from the maximum peak of the γ-ray logs. Thus, the effect of non-focalization of the probe and of the continuous logging was eliminated. The system of evalution used was two-dimensional using classical Kriging to calculate thicknesses and accumulations determined using distinct cut-off grades. (Author) [pt

  7. Young Money

    DEFF Research Database (Denmark)

    Roelsgaard Obling, Anne

    2015-01-01

    Book review of: Kevin Roose: "Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits". New York: Grand Central Publishing, 2014. 320 pp.......Book review of: Kevin Roose: "Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits". New York: Grand Central Publishing, 2014. 320 pp....

  8. Smart Money

    Science.gov (United States)

    Ullman, Ellen

    2009-01-01

    From using virtualization technology to accepting lunch payments online, school districts are seeking money-saving methods. In this article, the author discusses some methods used by school districts that allow them to save money from using virtualization technology to accepting lunch payments online.

  9. Smart Money

    DEFF Research Database (Denmark)

    Avital, Michel; Hedman, Jonas; Albinsson, Lars

    2017-01-01

    transaction costs by providing seamless real-time payments. In addition, digital legal tender that is based on blockchain technology can provide a foundation for customizable “smart money” which can be used to manage the appropriation of money and its use. In essence, the smart money is a customizable value...

  10. Money Laundering

    DEFF Research Database (Denmark)

    Tsingou, Eleni

    2014-01-01

    This chapter provides an overview of the role of the European Union in the emergence, consolidation and development of the governance of money laundering. In particular, it identifies three sets of factors that explain the role of the European Union in the global Anti-Money Laundering (AML) regime...

  11. Multiplying Money

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2013-05-01

    Full Text Available This article is not a comprehensive factual history of money as an economic instrument. It aims rather to present an essential psychological history of the power of money as a social organization or social technology. It explores the catalytic role of money in the development of society and its ever-increasing capacity for accomplishment in both economic and non-economic fields. This perspective focuses attention on the unutilized potential for harnessing the social power of money for promoting full employment, global development and human welfare. The title ‘multiplying money’ is intended to convey the idea that this untapped potential is exponential in nature. In order to recognize it, some fundamental misconceptions about the nature of money, how it is created and on what it is based need to be examined. This is the second article in a series.

  12. Making Money from Making Money

    DEFF Research Database (Denmark)

    Macfarlane, Laurie; Ryan-Collins, Josh; Bjerg, Ole

    Who has control over the supply of new money and what benefits does it bring? There is now widespread acceptance that in modern economies, commercial banks, rather than the central bank or state, create the majority of the money supply. This report examines ‘seigniorage’ – the profits that are ge...... that are generated through the creation of money. We show that in the UK, commercial bank seigniorage profits amount to a hidden annual subsidy of £23 billion, representing 73% of banks’ profits after provisions and taxes.......Who has control over the supply of new money and what benefits does it bring? There is now widespread acceptance that in modern economies, commercial banks, rather than the central bank or state, create the majority of the money supply. This report examines ‘seigniorage’ – the profits...

  13. Dynamics of storage reserve deposition during Brassica rapa L. pollen and seed development in microgravity

    Science.gov (United States)

    Kuang, A.; Popova, A.; McClure, G.; Musgrave, M. E.

    2005-01-01

    Pollen and seeds share a developmental sequence characterized by intense metabolic activity during reserve deposition before drying to a cryptobiotic form. Neither pollen nor seed development has been well studied in the absence of gravity, despite the importance of these structures in supporting future long-duration manned habitation away from Earth. Using immature seeds (3-15 d postpollination) of Brassica rapa L. cv. Astroplants produced on the STS-87 flight of the space shuttle Columbia, we compared the progress of storage reserve deposition in cotyledon cells during early stages of seed development. Brassica pollen development was studied in flowers produced on plants grown entirely in microgravity on the Mir space station and fixed while on orbit. Cytochemical localization of storage reserves showed differences in starch accumulation between spaceflight and ground control plants in interior layers of the developing seed coat as early as 9 d after pollination. At this age, the embryo is in the cotyledon elongation stage, and there are numerous starch grains in the cotyledon cells in both flight and ground control seeds. In the spaceflight seeds, starch was retained after this stage, while starch grains decreased in size in the ground control seeds. Large and well-developed protein bodies were observed in cotyledon cells of ground control seeds at 15 d postpollination, but their development was delayed in the seeds produced during spaceflight. Like the developing cotyledonary tissues, cells of the anther wall and filaments from the spaceflight plants contained numerous large starch grains, while these were rarely seen in the ground controls. The tapetum remained swollen and persisted to a later developmental stage in the spaceflight plants than in the ground controls, even though most pollen grains appeared normal. These developmental markers indicate that Brassica seeds and pollen produced in microgravity were physiologically younger than those produced in 1 g

  14. Endogenous Money in the Age of Financial Liberalization

    OpenAIRE

    Özgür, Gökçer; Ertürk, Korkut A.

    2008-01-01

    The paper reports results that show a much weakened statistical relationship between total bank credit, total deposits and the broad money supply for the period after 1995 for the US, where no statistical causation can be discerned in either direction. This has been the result of the changing nature of the credit creation process where banks have acquired almost total independence from required reserves and core deposits in extending credit, and even an ability to circumvent the constraint po...

  15. Endogeneity of Money Supply: Evidence From Turkey

    OpenAIRE

    Oguzhan Cepni; Ibrahim Ethem Guney

    2017-01-01

    There is a long discussion among academics and central bankers about the theories of money supply. According to the exogenous view, central banks have the full control over money supply via policy actions including the adjustments of interest rates and reserve ratios, both of which alter commercial banks’ lending decisions. However, the theory of endogenous money supply emphasizes the role of demand for bank loans in money creation. More specifically, banks create money by meeting the demand ...

  16. Decomposing US Money Supply Changes since the Financial Crisis

    Directory of Open Access Journals (Sweden)

    Richard Robinson

    2013-06-01

    Full Text Available In response to the financial crisis of 2008, the Federal Reserve radically increased the monetary base. Banks responded by increasing excess reserves rather than increasing bank loans, and the public responded with a substantial flight to liquidity in the form of currency and demand deposits. As a result, the money-supply multipliers substantially decreased, so that the actual money supply measures grew more moderately than the base. The sustained multiplier-collapse spawned reexamination of monetary versus fiscal theories of price-level determination. This paper, however, presents decompositions of the money-multiplier collapse into changes in the currency-to-deposit ratios, and changes in the reserve-to-deposit ratio. By doing so, possible near-term increases in the multipliers are simulated so that the possibility of either full or partial restoration to their pre-crisis levels is assessed. Policy possibilities for controlling the money supply over various horizons follow. This analysis illustrates the Federal Reserve’s exit dilemma that results from its financial-crisis policy.

  17. Free Money!

    Science.gov (United States)

    Anderson, Cynthia

    2011-01-01

    School library budgets are about as miserably low or nonexistent as many librarians have ever seen. The population of school librarians who have not just one, but "many" school libraries to manage is growing. Time and funds are short, and needs for books, programming, and technology are high. Grant money is out there for librarians, and the author…

  18. Electronic Money.

    Science.gov (United States)

    Schilling, Tim

    Thirty years ago a cashless society was predicted for the near future; paper currency and checks would be an antiquated symbol of the past. Consumers would embrace a new alternative for making payments: electronic money. But currency is still used for 87% of payments, mainly for "nickel and dime" purchases. And checks are the payment…

  19. Smart Money

    DEFF Research Database (Denmark)

    Avital, Michel; Hedman, Jonas; Albinsson, Lars

    2017-01-01

    Legal tender in the form of coins and banknotes is expected to be replaced at one point in the future by digital legal tender. This transformation is an opportunity for central banks to rethink the idea of money and overhaul the prevailing payment systems. Digital legal tender is expected to reduce...

  20. Endogenous Money Supply and Money Demand

    OpenAIRE

    Woon Gyu Choi; Seonghwan Oh

    2000-01-01

    This paper explores the behavior of money demand by explicitly accounting for the money supply endogeneity arising from endogenous monetary policy and financial innovations. Our theoretical analysis indicates that money supply factors matter in the money demand function when the money supply partially responds to money demand. Our empirical results with U.S. data provide strong evidence for the relevance of the policy stance to the demand for MI under a regime in which monetary policy is subs...

  1. Hot Money

    OpenAIRE

    V. V. Chari; Patrick Kehoe

    1997-01-01

    Recent empirical work on financial crises documents that crises tend to occur when macroeconomic fundamentals are weak; but even after conditioning on an exhaustive list of fundamentals, a sizable random component to crises and associated capital flows remains. We develop a model of herd behavior consistent with these observations. Informational frictions together with standard debt default problems lead to volatile capital flows resembling hot money and financial crises. We show that repayin...

  2. The economic efficiency of investment in the development of reserves of small groups of geographically contiguous gold deposits

    Directory of Open Access Journals (Sweden)

    Evdokimov S.I.

    2017-01-01

    Full Text Available The object of the research is a group of geographically contiguous low volume gold deposits. The subject of the study is an economic justification for a way to involve economic turnover to get a positive commercial result on a specially formed group of gold deposits, in which individual field development is unprofitable. A small production volume, combined with high capital and operating costs are objective reasons for the reduction in investment attractiveness of the deposits which have reserves of gold of 50%, equipped with a mobile processing complex with deep processing technology on highly liquid commodity products on site. An economic-mathematical model was devised to determine the rational placement of the processing capacity of the group.A simulation was conducted and an economic evaluation was performed on the effectiveness of investments in individual and group mining projects. The simulation results show that the joint exploitation of the reserves of the group of deposits, the internal rate of return on investments exceed the rate of return of funds to the bank deposit, the return on investment is above the level of inflation. The group project complies with the strategic line of small mining companies in terms of cost recovery terms, availability of financial sources to cover expenses, provision of stable means of income and obtaining competitive advantage.

  3. Geostatistical ore reserve estimation for a roll-front type uranium deposit (practitioner's guide)

    International Nuclear Information System (INIS)

    Kim, Y.C.; Knudsen, H.P.

    1977-01-01

    This report comprises two parts. Part I contains illustrative examples of each phase of a geostatistical study using a roll-front type uranium deposit. Part II contains five computer programs and comprehensive users' manuals for these programs which are necessary to make a practical geostatistical study

  4. 75 FR 10059 - Money Market Fund Reform

    Science.gov (United States)

    2010-03-04

    ....\\17\\ The Federal Reserve Board announced the creation of its Asset-Backed Commercial Paper Money... Part III Securities and Exchange Commission 17 CFR Parts 270 and 274 Money Market Fund Reform...; File Nos. S7-11-09, S7-20-09] RIN 3235-AK33 Money Market Fund Reform AGENCY: Securities and Exchange...

  5. The Impact of Hydrodynamics in Erosion - Deposition Process in Can Gio Mangrove Biosphere Reserve, South Viet Nam

    Science.gov (United States)

    Vo-Luong, H. P.

    2014-12-01

    Can Gio Mangrove Biosphere Reserve is always considered as a friendly green belt to protect and bring up the habitants. However, recently some mangrove areas in the Dong Tranh estuary are being eroded seriously. Based on the field measurements in SW and NE monsoons as well as data of topography changes in 10 years, it is proved that hydrodynamics of waves, tidal currents and riverine currents are the main reasons for erosion-deposition processes at the studied site. The erosion-deposition process changes due to monsoon. The analysed results show that high waves and tidal oscillation cause the increase of the erosion rate in NE monsoon. However, high sediment deposition occurs in SW monsoon due to weak waves and more alluvium from upstream. Many young mangrove trees grow up and develop in the SW monsoon. From the research, it is strongly emphasized the role of mangrove forests in soil retention and energy dissipation.

  6. The endogeneity of money and the eurosystem

    OpenAIRE

    Steiger, Otto

    2004-01-01

    The endogenous theory of money, developed by Basil Moore, argues that the supply of central bank money in modern economies is not under the control of the central bank. According to this view, a central bank typically supplies cash reserves automatically on demand at its minimum lending rate, resulting in a clearly horizontal money supply function. While the paper agrees with Moore that the supply of central bank money cannot be determined exogenously by the central bank, it wonders whether t...

  7. An Apology for Money

    OpenAIRE

    Svozil, Karl

    2008-01-01

    This review is about the convenience, the benefits, as well as the destructive capacities of money. It deals with various aspects of money creation, with its value, and its appropriation. All sorts of money tend to get corrupted by eventually creating too much of them. In the long run, this renders money worthless and deprives people holding it. This misuse of money creation is inevitable and should come as no surprise. Abusive money creation comes in various forms. In the present fiat money ...

  8. Endogeneity of Money Supply: Evidence From Turkey

    Directory of Open Access Journals (Sweden)

    Oguzhan Cepni

    2017-02-01

    Full Text Available There is a long discussion among academics and central bankers about the theories of money supply. According to the exogenous view, central banks have the full control over money supply via policy actions including the adjustments of interest rates and reserve ratios, both of which alter commercial banks’ lending decisions. However, the theory of endogenous money supply emphasizes the role of demand for bank loans in money creation. More specifically, banks create money by meeting the demand of economic agents. In this study, we investigate which of the money supply theories holds in Turkish economy for the period 2006-2015 by employing cointegration and causality tests. Our findings show that the causality runs from bank loans to money supply both in the short and long terms, which supports the endogenous view in a sense that central bank and the banks fully meet the total demand for money in Turkish economy.

  9. Estimation of Reserves of Tula Horizon Oil Deposits of Severo-Yurmanskoye Field, Perm Kray

    Directory of Open Access Journals (Sweden)

    V I Nabiullin

    2015-09-01

    Full Text Available This article presents an estimation of reserves of the Tula horizon oil-bearing layers Tl2-a and Tl2-b at the Severo-Yurmanskoye oil field. Research was carried out in order to prospect the unestimated oil reserves at the previously drilled but not commercially producing areas of Perm kray. The opportunity of reserve calculation for this oil field was provided by the sufficient oil encroachment rate achieved during testing of Tula horizon layers in the borehole 174, reliable mapping of oil-bearing horizons using seismic and borehole data, existence of updated stratigraphic information, results of study of uniformity of oil-bearing layers throughout the area of the Severo-Yurmanskoye oil field, reliable estimate of the position of water-oil contact, defining the effective oil-bearing thickness of oil-bearing layers using results of borehole geophysical survey, study of lithological composition and reservoir  properties, study of physical and chemical properties of oil in borehole and in laboratory, and reliability of statistical evaluation of oil recovery factor.

  10. Locked-in sticky textbooks: mainstream teaching of the money supply process

    NARCIS (Netherlands)

    M.A. Boermans; B.J. Moore

    2008-01-01

    Current macro-economic textbooks provide a fatally misleading description of the money supply process in modern economies. Over the past 20 years Post Keynesian authors have established conclusively that despite strictly-enforced cash reserve requirements, changes in the supply of bank deposits are

  11. MONEY LAUNDERING TYPOLOGIES SPECIFIC TO ROMANIA

    Directory of Open Access Journals (Sweden)

    Din Alina Valentina

    2012-07-01

    Full Text Available Money laundering is a process by which some people render or try to render a legal appearance to some profits obtained illegally by criminals who, without being compromised, will afterwards benefit from the respective incomes. In this context, the issue of money laundering, comprising a wide spectrum of directions, namely: the main landmarks regarding the appearance of “dirty” money and its laundering; the money laundering mechanism which mainly involves its A the placement the initial movement of money, in order to change its form or place and to place it outside the authorities’ coverage area of applying the law. For the incomes in cash which are permanently cashed, there are valid the first techniques used by the mafia groups in 1920 in the USA. Illegal money is mixed with money legally obtained from businesses which involve cash receipts. B Stratification (or investment represents the second stage of money laundering in which the money circulates within different companies, corporations and financial institutions, physically, by deposit or electronic transfer. One aims to physically move the money to other entities in order to separate it from its illegal source in an attempt to disguise its origin. In most of the cases, the first concern after committing the basic infraction is to transfer money abroad. The basic rule is that the person whose funds have to be transferred should not assume this risk. At the international level there are networks of professional couriers who take over the transfer action and provide the delivery of money abroad, at the established place and then its integration, respectively the return of clean money to the offender in order to be used as legally obtained money; regulations regarding money laundering, at international level (Convention from Vienna, Recommendations of the International Financial Group - GAFI 40 + 8 Special Recommendations regarding Terrorism Financing, European Union

  12. THE OUTLINE OF THE HISTORY OF MONEY DEVELOPMENT AND OF THE MONETARY SYSTEM - SELECTED ASPECTS OF THE ISSUE

    Directory of Open Access Journals (Sweden)

    Marcin Duda

    2015-09-01

    Full Text Available The development of trade imposed the search for solutions that allowed the move from primitive barter-based economies to economies based on money. This article describes the evolution of commodity money, where in the early stages of its development this role was played by various goods of the highest liquidity starting from such products as fish, cattle or alcohol, and ending with the most de-veloped form of this kind of payment which are precious metals. In this paper there was also presented the course of events, the consequence of which was the devel-opment of paper money, that at the beginning was only the confirmation of the amount of gold deposited in banks on irregular deposits. In addition, there was as well depicted the formation of the fractional-reserve banking and the slow shift from the gold standard until its complete liquidation and transition of modern economies into fiat money.

  13. Deposition

    International Nuclear Information System (INIS)

    1984-01-01

    Monitoring of radionuclide contents in rainwater is a useful way to keep a check on any change in the external radiation dose caused by the deposited material. Thus analuses of 3 H, 89 Sr and 90 Sr as well as 137 Cs and other gamma radionuclide contents in deposition were continued both nationwide and in the vicinities of the nuclear power stations at Loviisa and Olkiluoto. The deposition of 90 Sr and 137 Cs was lower than in previous years, being only a small fraction of the highest deposition values measured in 1983. The tritium concentrations were also lower than in 1982. The total annual deposition of tritium at different sampling stations varied from 1.7 kBq/m 2 to 2.9 kBq/m 2

  14. Philosophy of Money

    CERN Document Server

    Simmel, Georg; Frisby, David; Bottomore, Tom

    2011-01-01

    In The Philosophy of Money, Georg Simmel provides us with a now classic discussion of the social, psychological and philosophical aspects of the money economy, full of brilliant insights into the forms that social relationships take.

  15. An Industrial-Organization Approach to Money and Banking

    OpenAIRE

    Gunji, Hiroshi; Miyazaki, Kenji

    2016-01-01

    In this paper, we study the effect of conventional interest rate policy, quantitative easing and the reserve accounts’ interest rate on the money stock in an industrial-organization model of the banking industry with money creation. Our main findings are as follows. First, under a plausible setting of the parameters, the model with money creation supports the liquidity puzzle, in which tight monetary policy increases the money stock. Second, quantitative monetary easing has a similar effect. ...

  16. Application the software packages Whittle and Gemcom for calculation the balance reserves of copper ore in the south mining district deposit Majdanpek

    OpenAIRE

    Kržanović, Daniel; Rajković, Radmilo; Žikić, Miodrag

    2011-01-01

    Application of software for calculation the reserves in a modern geological and mining science and practice enables the short term look at a number of variants and finding out the best solutions. The obtained results had satisfactory quality and accuracy, and according to the international standards. This paper presents the application of software Whittle and Gemcom for a (Code) of calculation the balance reserves of the deposits South Mining District Majdanpek.

  17. Time and Money

    OpenAIRE

    Martin Shubik

    1996-01-01

    General equilibrium is timeless, and without outside money, the price system is homogeneous of order zero. Some finite horizon strategic market game models are considered with an initial issue of flat money held as an asset. For any arbitrary finite horizon, the solution is time-dependent. In the infinite horizon, time disappears with the initial issue of flat money present as circulating capital in the fully stationary state and the price level is determined.

  18. Money, liquidity and welfare

    OpenAIRE

    Wen, Yi

    2014-01-01

    This paper develops an analytically tractable Bewley model of money demand to shed light on some important questions in monetary theory, such as the welfare cost of inflation. It is shown that when money is a vital form of liquidity to meet uncertain consumption needs, the welfare costs of inflation can be extremely large. With log utility and parameter values that best match both the aggregate money demand curve suggested by Lucas (2000) and the variance of household consumption, agents in o...

  19. Money and Design

    Directory of Open Access Journals (Sweden)

    Artur Borcuch

    2015-01-01

    Full Text Available The purpose of this article is to analyze the influence of the money design on willingness to make purchases. In this paper, we focus on three aspects that structure the relation between money and design: the link between design and finance (in general, determinants of design and perspective of currency design. The main research problem explored in this paper is: Does the money design have influence on the willingness to make purchases by employees/employers at design studios, design students and students of economics/management? The main hypothesis is as follows – the more experience in design practice, the more important is money design.

  20. Money and Output: A Test of Reverse Causation.

    OpenAIRE

    Coleman, Wilbur John, II

    1996-01-01

    This paper attempts to explain the correlation between money and output at various leads and lags with a model in which money is largely neutral and endogenously responds to output. Money is endogenous because both monetary policy and deposit creation are endogenous. Parameters are selected according to the simulated moments estimation technique. While the estimated model succeeds along some dimensions in matching properties of postwar U.S. data, its failure to match key patterns of lead-lag ...

  1. Geostatistical ore reserve estimation for a roll-front type uranium deposit (practitioner's guide)

    Energy Technology Data Exchange (ETDEWEB)

    Kim, Y.C.; Knudsen, H.P.

    1977-01-01

    This report comprises two parts. Part I contains illustrative examples of each phase of a geostatistical study using a roll-front type uranium deposit. Part II contains five computer programs and comprehensive users' manuals for these programs which are necessary to make a practical geostatistical study. (LK)

  2. Endogenous money supply and the business cycle

    OpenAIRE

    William T. Gavin; Finn E. Kydland

    1996-01-01

    This paper documents changes in the cyclical behavior of nominal data series that appear after 1979:Q3 when the Federal Reserve implemented a policy to lower the inflation rate. Such changes were not apparent in real variables. A business cycle model with impulses to technology and a role for money is used to show how alternative money supply rules are expected to affect observed business cycle facts. In this model, changes in the money supply rules have almost no effect on the cyclical behav...

  3. The Money-Creation Model: Graphic Illustration

    Science.gov (United States)

    Lai, Ching-chong; Chang, Juin-jen; Kao, Ming-ruey

    2004-01-01

    The authors propose a pedagogical apparatus embodying a solid micro-foundation with emphasis on the public's choice between currency and demand deposits being an optimal decision. On the basis of the pedagogical exposition, the authors explain how money supply is related to the combined behaviors of the central bank, commercial banks, and the…

  4. Macroeconomic Variables and Money Supply: Evidence from Nigeria

    African Journals Online (AJOL)

    Nneka Umera-Okeke

    increasing attention in the field of monetary and financial economics in recent years as. Economist and finance ... The prime theory backing this paper is the renowned quantity theory of money as explained as follows: ... Demand deposits. Ajayi (1978) contends that M2 is the appropriate definition of money in Nigeria. M2.

  5. Mine surveying works for the purpose of excavating the remaining reserves of bauxite in the deposit of "Podbracan"

    OpenAIRE

    Milutinovic, Aleksandar; Ganic, Aleksandar; Diyab, Thamer Rayes; Tokalic, Rade; Ganic, Meri

    2015-01-01

    Mining projects for mineral resource mining contain in certain cases specific technical and technological solutions, these being the result of the mine’s characteristic spatial position and the geometry of the ore deposit, existing mining works, structures, and terrain relief etc. For the purpose of completion of the mining project, it is necessary to carry out a series of mining and surveying tasks during the pre-project and project stage of mining, as well as during the construction o...

  6. Money in a Theory of Banking

    OpenAIRE

    Douglas W. Diamond; Raghuram G. Rajan

    2003-01-01

    We explore the connection between money, banks, and aggregate credit. We start with a simple real' model without money, where banks make loans repayable in goods and depositors hold claims on the bank payable on demand in goods. Aggregate production may be delayed in the economy. If so, we show that the level of ongoing bank lending, and hence of aggregate future output, can decrease with increases in the real repayment due on deposits: ceteris paribus, the higher the amount due, the more lik...

  7. China's 'Hot Money' Problems

    National Research Council Canada - National Science Library

    Martin, Michael F; Morrison, Wayne M

    2008-01-01

    .... The recent large inflow of financial capital into China, commonly referred to as "hot money," has led some economists to warn that such flows may have a destabilizing effect on China's economy...

  8. Time, money, and morality.

    Science.gov (United States)

    Gino, Francesca; Mogilner, Cassie

    2014-02-01

    Money, a resource that absorbs much daily attention, seems to be involved in much unethical behavior, which suggests that money itself may corrupt. This research examined a way to offset such potentially deleterious effects-by focusing on time, a resource that tends to receive less attention than money but is equally ubiquitous in daily life. Across four experiments, we examined whether shifting focus onto time can salvage individuals' ethicality. We found that implicitly activating the construct of time, rather than money, leads individuals to behave more ethically by cheating less. We further found that priming time reduces cheating by making people reflect on who they are. Implications for the use of time primes in discouraging dishonesty are discussed.

  9. Geologic structure of Gofitsky deposit of titanium and zirconium and perspectives of the reserve base of titanium and zirconium in Russia

    Science.gov (United States)

    Kukhmazov, Iskander

    2016-04-01

    With the fall of the Soviet Union, all the mining deposits of titanium and zirconium appeared outside of Russian Federation. Therefore the studying of deposits of titanium and zirconium in Russia is very important nowadays. There is a paradoxical situation in the country: in spite of possible existence of national mineral resource base of Ti-Zr material, which can cover needs of the country, Russia is the one of the largest buyers of imported Ti-Zr material in the world. Many deposits are not mined, and those which are in the process of mining have poor reserves. Demand for this raw material is very great not only for Russia, but also for the world in general. Today there is a scarcity of zircon around the world and it will only increase through time. Therefore prices of products of titanium and zirconium also increase. Consequently Russian deposits of titanium and zirconium with higher content than foreign may become competitive. Russia is forced to buy raw materials (zirconium and titanium production) from former Soviet Union countries at prices higher than the world's and thus incur huge losses, including customs charges. Russia should create its own mineral resource base of Ti-Zr. Studied titanium-zirconium deposits of Stavropol region may become the basis for the south part of Russia. At first, Beshpagirsky deposit should be pointed out. It has large reserves of ore sands with high content of Ti-Zr. A combination of favorable geographical position of the area with developed industrial infrastructure makes it very beneficial as an object for high priority development. Gofitsky deposit should be pointed out as well. Its sands have a wide areal distribution and a high content of titanium and zirconium. Chokrak, Karagan-Konksk and Sarmatian sediments of the Miocene of Gofitsky deposit are productive for titanium and zirconium placers within Stavropol region of Russia. Gofitsky deposit was evaluated from financial and economic point of view and the following data

  10. 41 CFR 102-75.1155 - May an acceptable gift of property be converted to money?

    Science.gov (United States)

    2010-07-01

    ... of property be converted to money? 102-75.1155 Section 102-75.1155 Public Contracts and Property...-75.1155 May an acceptable gift of property be converted to money? GSA can determine whether or not a gift of property can and should be converted to money. After conversion, GSA must deposit the funds...

  11. Go where the money is

    International Nuclear Information System (INIS)

    Pressler, T. G. Jr.

    1996-01-01

    The information required by investment banks from private E and P companies regarding private financing, sales, mergers or acquisitions, was discussed. A bank will always refer to a company's reserve report in its evaluation. Using this and other information at its disposal, the principal role of the investment bank is to advise clients in regard to financial transactions, to help them receive a fair value and to steer them in the direction where the required funds are most likely to be available ('go where the money is'), be it in public or private markets, or through a sale, or merger

  12. Implementation of new technology is a reliable method of extracting reserves remaining in hydro-carbon deposits

    Directory of Open Access Journals (Sweden)

    А. А. Молчанов

    2017-10-01

    Full Text Available The prospects for further increase in oil production determined the introduction of new advanced technologies at all stages of the geological exploration process, drilling of wells, extraction and processing of hydrocarbons. On exploited deposits located at the late and final stages of development, in areas with developed infrastructure, the task of increasing oil recovery is particularly relevant. The increase in the total oil extraction in the fields by only a few percent allows us to obtain additionally millions of tons of oil and gas condensate. The oil reservoir is a multifactorial dynamic dissipative system and possesses all the properties of nonlinear self-organizing systems. To order the physicochemical processes in the formation in the parametric resonance mode, it is sufficient to periodically apply pressure to the formation by wide-band pulses from an independent nonlinear source. Such an independent well source is a plasma-pulse generator with an energy of about one kilojoule and a frequency spectrum from a few hertz to several kilohertz with a period of elastic vibrations 1-2 times per minute. The authors of the proposed technology suggest using an underwater electric explosion of conductors, in which the process of formation of a conducting channel is a successive chain of phase transformations of a metal under the influence of a pulsed current and then a breakdown of the hydromedia along the products of the explosion. A typical process of initiating a discharge is the breakdown of the interelectrode gap in a liquid under the influence of an electrical voltage that appears on the electrodes when a charged capacitor is connected to them through a conductor initiating an explosion. The application of the plasma-pulse effect equipment on the productive reservoir ensures an increase of oil and gas production rate and injectivity of injection wells by a factor of 2-6 and an improvement in the oil-water ratio of the produced fluid.

  13. Endogeneity Of Indonesian Money Supply

    OpenAIRE

    Rachma, Meutia Safrina

    2010-01-01

    There has been a long debate about the endogeneity of money supply. The main objective of this article is to identify whether money supply in Indonesia is an exogenous or an endogenous variable. Using a Vector Autoregressive model and monthly data 1997(5)-2010(6), the estimation result shows that money supply in Indonesia is an endogenous variable. The movement of broad money supply does influence the movement of base money and Consumer Price Index. Consequently, the central bank does not hav...

  14. ENDOGENEITY OF INDONESIAN MONEY SUPPLY

    OpenAIRE

    Rachma, Meutia Safrina

    2011-01-01

    There has been a long debate about the endogeneity of money supply. The main objective of this article is to identify whether money supply in Indonesia is an exogenous or an endogenous variable. Using a Vector Autoregressive model and monthly data 1997(5)-2010(6), the estimation result shows that money supply in Indonesia is an endogenous variable. The movement of broad money supply does influence the movement of base money and Consumer Price Index. Consequently, the central bank does not hav...

  15. Fractional Reserve in Banking System

    OpenAIRE

    Valkonen, Maria

    2016-01-01

    This thesis is aimed to provide understanding of the role of the fractional reserve in the mod-ern banking system worldwide and particularly in Finland. The fractional reserve banking is used worldwide, but the benefits of this system are very disputable. On the one hand, experts say that the fractional reserve is a necessary instrument for the normal business and profit making. On the other hand, sceptics openly criticize the fractional reserve system and blame it for fiat money (money n...

  16. Evaluation of gas production potential from gas hydrate deposits in National Petroleum Reserve Alaska using numerical simulations

    Science.gov (United States)

    Nandanwar, Manish S.; Anderson, Brian J.; Ajayi, Taiwo; Collett, Timothy S.; Zyrianova, Margarita V.

    2016-01-01

    An evaluation of the gas production potential of Sunlight Peak gas hydrate accumulation in the eastern portion of the National Petroleum Reserve Alaska (NPRA) of Alaska North Slope (ANS) is conducted using numerical simulations, as part of the U.S. Geological Survey (USGS) gas hydrate Life Cycle Assessment program. A field scale reservoir model for Sunlight Peak is developed using Advanced Processes & Thermal Reservoir Simulator (STARS) that approximates the production design and response of this gas hydrate field. The reservoir characterization is based on available structural maps and the seismic-derived hydrate saturation map of the study region. A 3D reservoir model, with heterogeneous distribution of the reservoir properties (such as porosity, permeability and vertical hydrate saturation), is developed by correlating the data from the Mount Elbert well logs. Production simulations showed that the Sunlight Peak prospect has the potential of producing 1.53 × 109 ST m3 of gas in 30 years by depressurization with a peak production rate of around 19.4 × 104 ST m3/day through a single horizontal well. To determine the effect of uncertainty in reservoir properties on the gas production, an uncertainty analysis is carried out. It is observed that for the range of data considered, the overall cumulative production from the Sunlight Peak will always be within the range of ±4.6% error from the overall mean value of 1.43 × 109 ST m3. A sensitivity analysis study showed that the proximity of the reservoir from the base of permafrost and the base of hydrate stability zone (BHSZ) has significant effect on gas production rates. The gas production rates decrease with the increase in the depth of the permafrost and the depth of BHSZ. From the overall analysis of the results it is concluded that Sunlight Peak gas hydrate accumulation behaves differently than other Class III reservoirs (Class III reservoirs are composed of a single layer of hydrate with no

  17. The "Free Money" Game.

    Science.gov (United States)

    Wilson, Carrie; Garner, Barbara

    1986-01-01

    The Free Money Game is a group activity designed to: (1) familiarize refugee students with the purpose of public assistance, which is to maintain recipients at a survival level for a limited time; and (2) make students aware of the lack of options open to welfare recipients, the depersonalization associated with the bureaucracy, and the insecurity…

  18. Competing for Criminal Money

    NARCIS (Netherlands)

    Rawlings, G.; Unger, B.

    2005-01-01

    To compete for criminal money by means of low bank secrecy seems a tempting strategy for countries in order to attract additional funds. We show in a model that this “Seychelles-strategy” can increase national output, in particular if a country takes a (Stackelberg ) leadership in the competition

  19. You and Foreign Money.

    Science.gov (United States)

    Tucker, James F.

    Foreign currency units, exchange rates, the international payments process, and spending money abroad are discussed briefly in this booklet to help teachers explain the international economy. Thirty-two countries are listed with their respective currency units, some of which are illustrated. A chart shows the average yearly exchange rates between…

  20. Money creation and circulation in a credit economy

    Science.gov (United States)

    Xiong, Wanting; Fu, Han; Wang, Yougui

    2017-01-01

    This paper presents a multi-agent model describing the main mechanisms of money creation and money circulation in a credit economy. Our special attention is paid to the role of debt in the two processes. With the agent-based modeling approach, macro phenomena are well founded in micro-based causalities. A hypothetical economy composed of a banking system and multiple traders is proposed. Instead of being a pure financial intermediary, the banking system is viewed as the center of money creation and an accelerator of money circulation. Agents finance their expenditures not only by their own savings but also through bank loans. Through mathematical calculations and numerical simulation, we identify the determinants of money multiplier and those of velocity of money. In contrast to the traditional money creation model, the money multiplier is determined not only by the behavior of borrowing but also by the behavior of repayment as well. The velocity of money is found to be influenced by both money-related factors such as the expenditure habits of agents with respect to their income and wealth and debt-related factors such as borrowing and repayment behaviors of debtors and the reserve requirements faced by banks.

  1. ENDOGENEITY OF INDONESIAN MONEY SUPPLY

    Directory of Open Access Journals (Sweden)

    Meutia Safrina Rachma

    2011-09-01

    Full Text Available There has been a long debate about the endogeneity of money supply. The main objective of this article is to identify whether money supply in Indonesia is an exogenous or an endogenous variable. Using a Vector Autoregressive model and monthly data 1997(5-2010(6, the estimation result shows that money supply in Indonesia is an endogenous variable. The movement of broad money supply does influence the movement of base money and Consumer Price Index. Consequently, the central bank does not have control power on money supply. The bank is only able to maintain the stability and control the movement of broad money supply. Keywords: Endogenous variable, money supply, vector autoregressionJEL classification numbers: E51, E52, E58

  2. Money neutrality: Rethinking the myth

    OpenAIRE

    Issaoui Fakhri; Boufateh Talel; Guesmi Mourad

    2015-01-01

    Considered as an axiomatic basis of classical, neoclassical, and monetarist theories, the long-run money neutrality assumption does not always seem to be verified. Indeed, in our view, the money, in the sense of M2, can constitute a long-run channel of growth transmission. Thus, this paper examines the long-term relationship among money supply (M2), income (GDP), and prices (CPI). The subprime crisis in 2007 has shown that the demand for money does not only...

  3. Money Laundering and its Regulation

    OpenAIRE

    Alberto E. Chong; Florencio López-de-Silanes

    2007-01-01

    The recent wave of terrorist attacks has increased the attention paid to money laundering activities. Using several methodologies, this paper investigates empirically the determinants of money laundering and its regulation in over 80 countries by assembling a cross-country dataset on proxies for money laundering and the prevalence of feeding activities. The paper additionally constructs specific money laundering regulation indices based on available information on laws and their mechanisms of...

  4. Money illusion and coordination failure

    DEFF Research Database (Denmark)

    Fehr, Ernst; Tyran, Jean-Robert

    2007-01-01

    Economists long considered money illusion to be largely irrelevant. Here we show, however, that money illusion has powerful effects on equilibrium selection. If we represent payoffs in nominal terms, choices converge to the Pareto inferior equilibrium; however, if we lift the veil of money by rep...

  5. Money Demand and its Keynesian and Postkeynesian Concepts – case of the Czech Republic

    Directory of Open Access Journals (Sweden)

    Svatopluk Kapounek

    2010-01-01

    Full Text Available Money exogeneity, stable money demand and its interest rates elasticity is basic condition of central banks’ monetary policy implementation and efficiency. The stable money demand function ensures that the money supply would have predictable impact on the macroeconomic variables such as inflation and real economic growth.This article deals with the money demand estimation under the keynesisan and postkeynesian theo­re­ti­cal approaches. Although central banks may have certain control over the money supply, they cannot fix the stock of money in a country, caused by multiplier effect of deposits. Different trends in monetary aggregates fluctuation contribute to reject the money exogeneity hypothesis. The author applies the CUSUM and Hansen’s stability tests to identify instability in the models of the Czech Republic and Eurozone.

  6. Exchanging the liquidity hypothesis: Delay discounting of money and self-relevant non-money rewards.

    Science.gov (United States)

    Stuppy-Sullivan, Allison M; Tormohlen, Kayla N; Yi, Richard

    2016-01-01

    Evidence that primary rewards (e.g., food and drugs of abuse) are discounted more than money is frequently attributed to money's high degree of liquidity, or exchangeability for many commodities. The present study provides some evidence against this liquidity hypothesis by contrasting delay discounting of monetary rewards (liquid) and non-monetary commodities (non-liquid) that are self-relevant and utility-matched. Ninety-seven (97) undergraduate students initially completed a conventional binary-choice delay discounting of money task. Participants returned one week later and completed a self-relevant commodity delay discounting task. Both conventional hypothesis testing and more-conservative tests of statistical equivalence revealed correspondence in rate of delay discounting of money and self-relevant commodities, and in one magnitude condition, less discounting for the latter. The present results indicate that liquidity of money cannot fully account for the lower rate of delay discounting compared to non-money rewards. Copyright © 2015 Elsevier B.V. All rights reserved.

  7. 12 CFR 218.741 - Exemption for banks effecting transactions in money market funds.

    Science.gov (United States)

    2010-01-01

    ... money market funds. 218.741 Section 218.741 Banks and Banking FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS... EXCHANGE ACT OF 1934 (REGULATION R) § 218.741 Exemption for banks effecting transactions in money market... issued by a money market fund, provided that: (1) The bank either (i) Provides the customer, directly or...

  8. 31 CFR 223.4 - Deposits.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Deposits. 223.4 Section 223.4 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS WITH THE UNITED STATES...

  9. 31 CFR 357.26 - Direct Deposit.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Direct Deposit. 357.26 Section 357.26 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE... AND BILLS HELD IN LEGACY TREASURY DIRECT Legacy Treasury Direct Book-Entry Securities System (Legacy...

  10. Energy, money, and pollution

    International Nuclear Information System (INIS)

    Roma, Antonio

    2006-01-01

    This paper explores general equilibrium consumption choices and interest rate determination in a deterministic two-period model in which the production side explicitly describes the thermodynamic process unavoidably connected with production, as argued by Georgescu Roegen. A simple energy based production process is modeled, which is not in a stationary state. The resulting production function is time dependent. In neoclassical general equilibrium the thermodynamic implication of the production process, i.e., the production of waste, will not be taken into account by decision making agents. For welfare optimality, the resulting externality needs to be corrected by a social planner, or through the use of environmental related taxation. However, it is shown that imposing energy as a medium of exchange (money) in the same economy makes agents 'energy conscious' and decreases the externality associated with entropic waste through a market mechanism, without the need for intervention. In the limit case in which production occurs in thermodynamic equilibrium, no entropic waste is produced, and the model collapses to the nested neoclassical model. A contribution of the proposed approach is the determination of energy (money) prices in general equilibrium. Despite the fact that energy does not enter the agents' utility function, and therefore has no direct value, money prices and interest rate can be fully characterized in the model due precisely to the production technology adopted. In this competitive equilibrium the market interest rate will be greater than the real interest rate. The change in the numeraire and medium of exchange used affects the economy due to the non stationarity of the production process, but has no effect in the limit case in which the productive process reaches a steady state. (author)

  11. Time, money, and history.

    Science.gov (United States)

    Edgerton, David

    2012-06-01

    This essay argues that taking the economy seriously in histories of science could not only extend the range of activities studied but also change--often quite radically--our understanding of well-known cases and instances in twentieth-century science. It shows how scientific intellectuals and historians of science have followed the money as a means of critique of particular forms of science and of particular conceptions of science. It suggests the need to go further, to a much broader implicit definition of what constitutes science--one that implies a criticism of much history of twentieth-century science for defining it implicitly and inappropriately in very restrictive ways.

  12. The Money-Creation Model: Another Pedagogy.

    Science.gov (United States)

    Gamble, Ralph C., Jr.

    1991-01-01

    Describes graphical techniques to help explain the multiple creation of deposits that accompany lending in a fractional reserve banking system. Presents a model that emphasizes the banking system, the interaction of total permitted, required, and excess reserves and deposits. Argues that the approach simplifies information to examining a slope…

  13. 31 CFR 103.125 - Anti-money laundering programs for money services businesses.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering programs for... Laundering Programs Anti-Money Laundering Programs § 103.125 Anti-money laundering programs for money..., and maintain an effective anti-money laundering program. An effective anti-money laundering program is...

  14. Quantum money with classical verification

    International Nuclear Information System (INIS)

    Gavinsky, Dmitry

    2014-01-01

    We propose and construct a quantum money scheme that allows verification through classical communication with a bank. This is the first demonstration that a secure quantum money scheme exists that does not require quantum communication for coin verification. Our scheme is secure against adaptive adversaries - this property is not directly related to the possibility of classical verification, nevertheless none of the earlier quantum money constructions is known to possess it

  15. Money, banks and endogenous volatility

    OpenAIRE

    Pere Gomis-Porqueras

    2000-01-01

    In this paper I consider a monetary growth model in which banks provide liquidity, and the government fixes a constant rate of money creation. There are two underlying assets in the economy, money and capital. Money is dominated in rate of return. In contrast to other papers with a larger set of government liabilities, I find a unique equilibrium when agents' risk aversion is moderate. However, indeterminacies and endogenous volatility can be observed when agents are relatively risk averse.

  16. Prospects for Money Transfer Models

    OpenAIRE

    Yougui Wang; Ning Ding; Ning Xi

    2005-01-01

    Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of individual agents, a pile of money and a specific trading rule. Whatever the trading rule is, the most noteworthy fact is that money is always transferred from one agent to another in the transferring process. So we call them money transfer models. Besides e...

  17. Central bank independence and its effect on money market stability

    Directory of Open Access Journals (Sweden)

    MSc. Anera Alishani

    2012-06-01

    Full Text Available Since 1990s many countries have moved toward greater central bank independence (CBI by either amending their Central Bank’s laws or writing them de novo. Also countries of Western Balkans and many other transition countries have moved toward greater CBI. There are many potential benefits associated with greater CBI, and one of them is stable growth of money and liquidity. For a given level of money market development the hypothesis is that a more independent CB is likely to promote more stable growth of money supply (Dželetović et al., 2008. As a result the main research task of this work is to estimate the effects of CBI on money market growth for five Western Balkans countries and five other European transition countries. Because the empirical studies were very limited for the relationship between CBI and money market growth, there were no clear conclusions. In addition, there were different measuring methodologies that attempt to quantify the extent of legal and actual CBI. Related to the main research task, this dissertation has examined the effects of CBI on money market stability (proxied by bank deposit growth for a sample of 10 countries for a period from 1999-2009 by using fixed effect model. Through this methodology different regressions have been estimated, but the results were not robust and there are no clear finding on the relationship between CBI and money market growth.

  18. Money and Growth under Uncertainty.

    Science.gov (United States)

    ECONOMICS, UNCERTAINTY), (*MONEY, DECISION MAKING), (* BEHAVIOR , MATHEMATICAL MODELS), PRODUCTION, CONSUMPTION , EQUILIBRIUM(PHYSIOLOGY), GROWTH(PHYSIOLOGY), MANAGEMENT ENGINEERING, PROBABILITY, INTEGRAL EQUATIONS, THESES

  19. Money as a Network Good

    Directory of Open Access Journals (Sweden)

    Julia Włodarczyk

    2015-04-01

    Full Text Available Many economic phenomena, including flows of money, can be treated as manifestations of operation of specific networks. In contrast to the popularity of analyses of network structure and dynamics in sociology and physics, economic investigations concerning network approach in general and network properties of money in particular have not been popular until recently. This paper presents the concept of money as a network good and its features (complementarity, standardization, consumption externalities, switching costs, lock-in, dependence on social preferences and expectations and economies of scale in production. It is asserted that network theory of money may shed new light on such processes as monetary integration.

  20. Modeling dry and wet deposition of sulfate, nitrate, and ammonium ions in Jiuzhaigou National Nature Reserve, China using a source-oriented CMAQ model: Part I. Base case model results.

    Science.gov (United States)

    Qiao, Xue; Tang, Ya; Hu, Jianlin; Zhang, Shuai; Li, Jingyi; Kota, Sri Harsha; Wu, Li; Gao, Huilin; Zhang, Hongliang; Ying, Qi

    2015-11-01

    A source-oriented Community Multiscale Air Quality (CMAQ) model driven by the meteorological fields generated by the Weather Research and Forecasting (WRF) model was used to study the dry and wet deposition of nitrate (NO3(-)), sulfate (SO4(2-)), and ammonium (NH4(+)) ions in the Jiuzhaigou National Nature Reserve (JNNR), China from June to August 2010 and to identify the contributions of different emission sectors and source regions that were responsible for the deposition fluxes. The model performance is evaluated in this paper and the source contribution analyses are presented in a companion paper. The results show that WRF is capable of reproducing the observed precipitation rates with a Mean Normalized Gross Error (MNGE) of 8.1%. Predicted wet deposition fluxes of SO4(2-) and NO3(-) at the Long Lake (LL) site (3100 m a.s.l.) during the three-month episode are 2.75 and 0.34 kg S(N) ha(-1), which agree well with the observed wet deposition fluxes of 2.42 and 0.39 kg S(N) ha(-1), respectively. Temporal variations in the weekly deposition fluxes at LL are also well predicted. Wet deposition flux of NH4(+) at LL is over-predicted by approximately a factor of 3 (1.60 kg N ha(-1)vs. 0.56 kg N ha(-1)), likely due to missing alkaline earth cations such as Ca(2+) in the current CMAQ simulations. Predicted wet deposition fluxes are also in general agreement with observations at four Acid Deposition Monitoring Network in East Asia (EANET) sites in western China. Predicted dry deposition fluxes of SO4(2-) (including gas deposition of SO2) and NO3(-) (including gas deposition of HNO3) are 0.12 and 0.12 kg S(N) h a(-1) at LL and 0.07 and 0.08 kg S(N) ha(-1) at Jiuzhaigou Bureau (JB) in JNNR, respectively, which are much lower than the corresponding wet deposition fluxes. Dry deposition flux of NH4(+) (including gas deposition of NH3) is 0.21 kg N ha(-1) at LL, and is also much lower than the predicted wet deposition flux. For both dry and wet deposition fluxes, predictions

  1. The Multidisciplinary Economics of Money Laundering

    OpenAIRE

    Ferwerda, J.

    2012-01-01

    Money laundering has been studied for many years, but mainly by lawyers and criminologists. This dissertation presents a number of ways on how an economist – mainly in a multidisciplinary fashion – can contribute to this field of research. This dissertation answers four important questions about money laundering: Why should we fight money laundering? How is money laundered? In which sectors is money laundered? And how can we fight money laundering? The literature mentions 25 effects of money ...

  2. College Students Discount Money "Won" More than Money "Owed"

    Science.gov (United States)

    Weatherly, Jeffrey N.; Derenne, Adam; Terrell, Heather K.

    2010-01-01

    Evidence in the research literature indicates people may treat "won" money differently than they would their own money. The present study had a sample of 648 college students complete a delay-discounting task that involved the hypothetical monetary amounts of $1,000 or $100,000. Participants were asked repeatedly what amount they would…

  3. Follow The Money

    DEFF Research Database (Denmark)

    Batikas, Michail; Claussen, Jörg; Peukert, Christian

    " approach. Because the main source of revenue for infringing websites often comes from online advertising, the idea is that cutting access to advertisers could lower the financial incentives for website owners. In this paper, we aim to provide systematic evidence on the effectiveness of such a policy. We......Online copyright enforcement, in the form of either direct action against the supply- side (via website shutdowns) or the demand-side (via individual lawsuits against users), has not been very effective in reducing piracy. Regulators have therefore put forward the so called “follow the money...... collect data on the advertising services associated with a large number of piracy websites and corresponding set of legitimate \\placebo" websites before and after the _rst steps of a self-regulatory effort in the European Union went in place. Preliminary results suggest that advertising services indeed...

  4. A psychological perspective on money

    NARCIS (Netherlands)

    Bijleveld, Erik; Aarts, Henk

    2014-01-01

    A thriving field of inquiry, the psychological science of money has recently witnessed an upsurge in research attention. In the present volume, we bring together and integrate a number of theoretical perspectives on the question of ‘how does money affect people’s mind, brain, and behavior?’

  5. Money neutrality: Rethinking the myth

    Directory of Open Access Journals (Sweden)

    Issaoui Fakhri

    2015-01-01

    Full Text Available Considered as an axiomatic basis of classical, neoclassical, and monetarist theories, the long-run money neutrality assumption does not always seem to be verified. Indeed, in our view, the money, in the sense of M2, can constitute a long-run channel of growth transmission. Thus, this paper examines the long-term relationship among money supply (M2, income (GDP, and prices (CPI. The subprime crisis in 2007 has shown that the demand for money does not only meet motives of transaction, precaution, and speculation but also of fictional or quasi-fictional future demands due to the fact that they are created without real counterparts. The capacity of production systems in developed countries to respond to increases in money supply by creating more wealth, involves the assumption of money neutrality in the long-run. However, in developing countries, the excess of money supply may lead to inflation trends. The present study has confirmed the long-term non-neutrality of money supply in the USA, and its neutrality in Gabon and Morocco.

  6. Keynes's Lost Distinction Between Industrial and Financial Circulation of Money

    DEFF Research Database (Denmark)

    Jespersen, Jesper

    2010-01-01

    Although financial circulation is an important part of banks' balance sheets in the form of savings deposits, this is hardly discussed in monetary circuit theory. In this paper, we argue that monetary circuit theory would be more coherent if it were expanded to incorporate some aspects of Keynes...... in his Treatise on Money....

  7. Modeling dry and wet deposition of sulfate, nitrate, and ammonium ions in Jiuzhaigou National Nature Reserve, China using a source-oriented CMAQ model: Part II. Emission sector and source region contributions.

    Science.gov (United States)

    Qiao, Xue; Tang, Ya; Kota, Sri Harsha; Li, Jingyi; Wu, Li; Hu, Jianlin; Zhang, Hongliang; Ying, Qi

    2015-11-01

    A source-oriented Community Multiscale Air Quality (CMAQ) model driven by the meteorological fields generated by the Weather Research and Forecasting (WRF) model was used to study the dry and wet deposition of nitrate (NO3(-)), sulfate (SO4(2-)), and ammonium (NH4(+)) ions in the Jiuzhaigou National Nature Reserve (JNNR), China from June to August 2010 and to identify the contributions of different emission sectors and source regions that were responsible for the deposition fluxes. Contributions from power plants, industry, transportation, domestic, biogenic, windblown dust, open burning, fertilizer, and manure management sources to deposition fluxes in JNNR watershed and four EANET sites are determined. In JNNR, 96%, 82%, and 87% of the SO4(2-), NO3(-) and NH4(+) deposition fluxes are in the form of wet deposition of the corresponding aerosol species. Industry and power plants are the two major sources of SO4(2-) deposition flux, accounting for 86% of the total wet deposition of SO4(2-), and industry has a higher contribution (56%) than that of power plants (30%). Power plants and industry are also the top sources that are responsible for NO3(-) wet deposition, and contributions from power plants (30%) are generally higher than those from industries (21%). The major sources of NH4(+) wet deposition flux in JNNR are fertilizer (48%) and manure management (39%). Source-region apportionment confirms that SO2 and NOx emissions from local and two nearest counties do not have a significant impact on predicted wet deposition fluxes in JNNR, with contributions less than 10%. While local NH3 emissions account for a higher fraction of the NH4(+) deposition, approximately 70% of NH4(+) wet deposition in JNNR originated from other source regions. This study demonstrates that S and N deposition in JNNR is mostly from long-range transport rather than from local emissions, and to protect JNNR, regional emission reduction controls are needed. Copyright © 2015 Elsevier B.V. All

  8. How to Save Money on Infant Formula

    Science.gov (United States)

    ... medlineplus.gov/ency/patientinstructions/000805.htm How to save money on infant formula To use the sharing features ... several months. Here are some ways you can save money on infant formula . Money-Saving Ideas Here are ...

  9. Money, Debt, People and Planet

    Directory of Open Access Journals (Sweden)

    Jakob von Uexkull

    2012-10-01

    Full Text Available The widespread failure to understand money creation plays a key role in the current policy impasse. In a world ruled by money, this failure disempowers and prevents serious consideration of alternatives. The key reasons why we are not moving faster in tackling the global crises are, we are told, because it is too expensive, there is not enough money, it is not (yet profitable enough to do etc. Within the current global monetary framework, this is largely true. Therefore, any realistic plan to change course before we are overwhelmed by the inter-linked environmental, social and security threats facing us, is to change this framework to ensure that money becomes our servant again. The current debt crisis offers an opportunity to replace discredited debt-based money created by private banks in their interest with government-created debt-free money benefitting all, which can be used to fund a global emergency programme.“We know now that government by organised money is just as dangerous as government by organised mob.” — President F.D. Roosevelt, 31.10.36“The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending. Why is such privatisation of a public function right and proper, but action by the central bank to meet pressing public need, a road to catastrophe?” — Martin Wolf, ‘Financial Times’, 9.11.10“The obvious way to reduce our public and private debts is to stop having all our money created as debt.” — James Robertson, ‘Future Money’

  10. Understanding the mobile money ecosystem

    DEFF Research Database (Denmark)

    Tobbin, P.

    2011-01-01

    This paper discusses the structure of the new mobile money ecosystem and the roles of its key players. Mobile money is an evolving sector both in volume and in economic impact especially in the developing world. The paper is an exploratory study that investigates the structure of the ecosystem......, providing a foundation for future strategic analysis of the system. We adopt a theoretical insight from Moore's business ecosystem theory to explain the key roles of the actors in the mobile money ecosystem. And also draw extensively from the work of Iansiti and Levien to explain the best strategies...

  11. The Governance of Money Laundering

    DEFF Research Database (Denmark)

    Tsingou, Eleni

    2014-01-01

    What are the drivers behind the anti-money laundering (AML) governance framework? Who are the actors and institutions, and what is the policy content? This chapter provides an overview of the processes and mechanisms of AML policy-making. AML is often presented as a financial problem, and something......, moreover, that is key to debates about international political economy (IPE) since it goes to the heart of the integrity of the financial system and also, at least in principle, aims to impose controls on the movement of money. Yet, as a policy concern, thinking about money laundering was developed away...... from traditional settings for the regulation of global finance. Instead, AML policies were driven by and linked to the public policy objectives of law and order. As a result, the governance of money laundering encompasses a broad set of goals, techniques and professional knowledge. It brings together...

  12. Value and money in Marx

    Directory of Open Access Journals (Sweden)

    Fahd Boundi Chraki

    2018-04-01

    Full Text Available The aim of this paper is to examine the link between Marx's monetary theory and its explanation of value, production and circulation. For this, it presents the basic theoretical elements that allow a critique of the quantitative theory, the Chartalist conception of the genesis of money and the post-Keynesian theory of endogenous money. Then, from a Marxist perspective, it analyzes the controversial relationship between the monetization of public debt and the increase in the general level of prices.

  13. 2007 National Money Laundering Strategy

    Science.gov (United States)

    2007-03-16

    payment sys- tem varies by service provider. The FBI reports six individuals indicted in a Ponzi scheme in March 2004 used a digital currency ex... the crime from the cash early in the money laundering process. Under this scheme , drug dealers are able to hand off their illicit dollars in the ...methods are often those that use trade to transfer value into or out of the United States. Trade-based money laundering encompasses a variety of schemes

  14. Money Laundering Through Offshore Areas

    OpenAIRE

    Roxana Ispas

    2009-01-01

    In the present study we have started from the premise that from the analysis of the "money laundering", the money resulted from this is circulating in the whole world, through some geographical and institutional channels. Starting from the characteristics of "tax haven", we have made a parallel between it and the financial paradise. In the second part of the work we have explored offshore areas, adding the methods for placement of revenue in those countries and the necessary conclusions.

  15. Bitcoin and Beyond: Exclusively Informational Money

    NARCIS (Netherlands)

    Bergstra, J.A.; de Leeuw, K.

    2013-01-01

    The famous new money Bitcoin is classified as a technical informational money (TIM). Besides introducing the idea of a TIM, a more extreme notion of informational money will be developed: exclusively informational money (EXIM). The informational coins (INCOs) of an EXIM can be in control of an agent

  16. Feasibility of selected private money

    Directory of Open Access Journals (Sweden)

    Lukáš Nevěděl

    2012-01-01

    Full Text Available The goal of the entry: “Feasibility of selected private money” is the assessment of practicability of selected private money types as future currency especially in terms of attributes that the currency should meet to fulfil all claims required by its users. In the first step the features that the widely used currency has to have will be described and it will be analysed which of these features are characteristic for nowadays currencies (Czech crown and Euro too. In the second step private (unnationalized money will be described as well as several concepts derived from it. The paper will concern mainly on Hayek’s concept of private money and on particular variations of Local exchange trading systems. In the next part there will be pointed out good and bad features of these types of money, mainly from the view of characteristics that the proper currency should have. At the end it will be carried out the comparison of bad and good effects resulting from using of particular currencies types and I will decide about the applicability of analysed private money types. The paper uses the standard methods of scientific work. Firstly, the method of description is used to describe the development of private money concepts and characteristic features that the currency should have. Then, a comparative analysis is used to discuss the differences between contemporary currencies and unnationalized currencies as well as between required and real features of particular private money. At the end the method of synthesis, deduction and induction is used.

  17. 31 CFR 357.14 - What authority does a Federal Reserve Bank have?

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false What authority does a Federal Reserve Bank have? 357.14 Section 357.14 Money and Finance: Treasury Regulations Relating to Money and Finance... Entry System (TRADES) § 357.14 What authority does a Federal Reserve Bank have? (a) Each Federal Reserve...

  18. ELECTRONIC MONEY: THE ERA TO PERFECTION

    Directory of Open Access Journals (Sweden)

    Siyovush Yu. Allakhanov

    2013-01-01

    Full Text Available The article outlines the significance of the transition to the implementation of new types of money, such as electronic money, and predictors of its uprise. And also there are given the various terms of Russian and foreign scholars on the concept of electronic money. It also discusses the approaches to the definition of electronic money and credit cards as an option for payment of electronic money.

  19. Money Marries Money - Intergenerational Top Household Income Mobility in Denmark

    DEFF Research Database (Denmark)

    Bonke, Jens; Hussain, M. Azhar; Munk, Martin David

    2016-01-01

    This paper describes intergenerational earnings and income mobility among top-income households in Denmark. Access to administrative registers allowed us to look at very small fractions of the populations, and to distinguish between sons and daughters and to observe their spouses’ incomes. At the....... At the top of the income distribution we find a correlation of 0.763 between father and mother’s pooled income and that of their son and daughter-in-law’s pooled income, which indicates that money marries money....

  20. The Money Laundering Prevention System

    Directory of Open Access Journals (Sweden)

    Sonja Cindori

    2007-03-01

    Full Text Available The paper presents the money laundering and terrorist financing prevention system in Croatia. The basic concepts are defined, the principles and fundamentals of international regulations analysed, and the regulatory system in Croatia covered by statute and money laundering prevention Regulations is presented, in conjunction with a description of the organisation, remit and international actions of the Money Laundering Prevention Office.The infiltration of dirty money is a crucial problem from national economies. The purchase of shares, of real estate, the establishment of dirty investment funds and the use of the banking system for the embedding of such resources is a danger to the credibility of a whole country, and in particular to the security of the financial and banking system. Croatia has adopted statutory measures aimed at the effective detection and prevention of suspicious financial transactions, in other words the prevention of money laundering.Launderers constantly find new ways, make use of new non-financial channels and expand their activities to real estate, artworks and insurance. Hence it is necessary to keep up with European approaches and recommendations, to strive for further improvement of the laws and the modernisation of the system, and to adopt new regulations harmonised with international standards, particularly with Directive 2005/60/EC.

  1. Endogenous Money - On Banking Behaviour in New and Post Keynesian Models

    OpenAIRE

    Co-Pierre Georg; Markus Pasche

    2008-01-01

    In New Keynesian as well as in Post Keynesian macroeconomic models, money supply is assumed to be endogenous. The reasons for the endogeneity and the role of the financial sector in the supply process, however, are seen very different. In this paper we explicitly derive the behaviour of the banking sector regarding the supply of loans and the demand for reserves from portfolio and liquidity considerations. As a result, the money multiplier as well as the money base are endogenously determined...

  2. The impact of Basel III on money creation: A synthetic analysis

    OpenAIRE

    Xiong, Wanting; Wang, Yougui

    2017-01-01

    Recent evidences provoke broad rethinking of the role of banks in money creation. The authors argue that apart from the reserve requirement, prudential regulations also play important roles in constraining the money supply. Specifically, they study three Basel III regulations and theoretically analyze their standalone and collective impacts. The authors find that 1) the money multiplier under Basel III is not constant but a decreasing function of the monetary base; 2) the determinants of the ...

  3. Credit, Money, and Aggregate Demand.

    OpenAIRE

    Bernanke, Ben S; Blinder, Alan S

    1988-01-01

    Standard models of aggregate demand treat money and credit asymmetrically; money is given a special status, while loans, bonds, and other debt instruments are lumped together in a "bond market" and suppressed by Walras' Law. This makes bank liabilities central to the monetary transmission mechanism, while giving no role to bank assets. We show how to modify a textbook IS-UI model so as to permit a more balanced treatment. As in Tobin (1969) and Brunner-Meltzer (1972), the key assumption is th...

  4. Disordered Money Behaviors: Development of the Klontz Money Behavior Inventory

    Directory of Open Access Journals (Sweden)

    Brad T Klontz

    2012-06-01

    Full Text Available Much of the existing literature on financial behavior focuses on basic money management tasks (e.g., balancing a checkbook. However, it can be equally important to identify problematic financial behaviors that can sabotage one’s financial health. The purpose of this study was to create an assessment tool that can be used by mental health and financial professionals to identify disordered money behaviors that may impede on progress towards one’s financial goals. This study asked 422 respondents to indicate their agreement with disordered money behaviors, including compulsive buying, pathological gambling, compulsive hoarding, workaholism, financial enabling, financial dependence, financial denial, and financial enmeshment, which were correlated with demographic characteristics and financial outcomes. The results identified eight subscales derived from 68 disordered money behavior items. All eight subscales were found to have high reliability in measuring disordered behaviors, and six were associated with negative financial health indicators (e.g. less net worth, less income, and/or more revolving credit.

  5. Moneta e quasi-moneta. (Money and quasi-money

    Directory of Open Access Journals (Sweden)

    F. CESARANO

    2013-12-01

    Full Text Available L'analisi della definizione degli aggregati monetari ha avuto un ruolo di primo piano nel dibattito sul denaro negli anni Sessanta e la prima metà degli anni Settanta . I problemi connessi con il rapporto tra denaro e quasi- denaro ha importanti implicazioni per i vari aspetti fondamentali della teoria monetaria e della politica monetaria . In Italia , per motivi legati alla peculiarità del  quadro istituzionale , il problema in questione non ha ricevuto molta attenzione . Solo di recente , a seguito della diffusione di strumenti di mercato monetario ,  molti partiti hanno sollevato la questione per quanto riguarda l'inclusione di questi strumenti nella definizione dello stock del denaro . Dopo aver spiegato la natura del problema , il presente lavoro fornisce un'analisi empirica della questione .The analysis of the definition of monetary aggregates has had a leading role in the debate on money in the sixties and the first half of the seventies. The problems associated with the relationship between money and quasi-money has important implications for various fundamental aspects of monetary theory and monetary policy. In Italy, for reasons related to the peculiar institutional framework, the issue in question has not received much attention. Only recently, as a result of the diffusion of money market instruments, have many parties raised the question regarding the inclusion of these instruments in the definition of the stock of money. After explaining the nature of the problem, the present work provides an empirical analysis of the issue.JEL: E42, E52

  6. Money and transmission of bacteria.

    NARCIS (Netherlands)

    Gedik, H.; Voss, T.A.; Voss, A.

    2013-01-01

    Money is one of the most frequently passed items in the world. The aim of this study was to ascertain the survival status of bacteria including Staphylococcus aureus, Escherichia coli, and Vancomycin- Resistant Enterococci (VRE) on banknotes from different countries and the transmission of bacteria

  7. Reliability Analysis of Money Habitudes

    Science.gov (United States)

    Delgadillo, Lucy M.; Bushman, Brittani S.

    2015-01-01

    Use of the Money Habitudes exercise has gained popularity among various financial professionals. This article reports on the reliability of this resource. A survey administered to young adults at a western state university was conducted, and each Habitude or "domain" was analyzed using Cronbach's alpha procedures. Results showed all six…

  8. Financial Inclusion and Demand for Money: a Dynamic Panel Data Approach

    Directory of Open Access Journals (Sweden)

    Zelin Nurfadia Sidik

    2018-03-01

    Full Text Available Financial inclusion is designed to increase the opportunities and society participation in the formal financial institution, especially for unbanked people. Moreover, financial inclusion is one of strategy inclusive economic growth. However, financial inclusion may lead an ineffectiveness of monetary policy. It is because financial inclusion can affect the sensitivity of interest rate, and it could cause instability demand for money. Therefore, the research aims to analyze the impact of financial inclusion on demand for money, reserve money (M0, in 36 countries for the period 2004 to 2014. The method that used is Dynamic Panel Approach. The result shows that financial inclusion stimulates the increase of demand for reserve money (M0 in developed countries. In the other hand, the increasing of financial inclusion could decrease the demand for reserve money (M0 in developing countries.DOI: 10.15408/sjie.v7i2.6838

  9. Features of the determination of rock porosity from the neutron logging data at final exploration of carbonate deposits in sections of cased boreholes of old stock reserve

    International Nuclear Information System (INIS)

    Gulin, Yu.A.; Golovatskaya, I.V.

    1976-01-01

    From the analysis of the results of using methods of neutron logging in the Bashkir carbonate deposite, to enhance the reliability of singling out producing strata in the old boreholes it is recommended that impermeable strata should be omitted from consideration by singling them out on the basis of data from electric logging (well logging with two solutions, micrologging and a combination of laterolog and microfocus logging) or by neutrongamma logging and epithermal neutron logging diagrams recorded before lowering the column or immediately after lowering it into small-diameter boreholes. To determine the porosity one should use epithermal neutron logging diagrams obtained in the open borehole or recorded immediately after the lowering of the column, using in addition, for 7 3/4'' to 8 3/4''-diam boreholes, data obtained with a centred epithermal neutron logging device in the process of detailed survey

  10. How to save money on medicines

    Science.gov (United States)

    ... medlineplus.gov/ency/patientinstructions/000863.htm How to save money on medicines To use the sharing features on ... can look out for you, recommend ways to save money, and make sure all the drugs you take ...

  11. Endogenous money: the evolutionary versus revolutionary views

    OpenAIRE

    Louis-Philippe Rochon; Sergio Rossi

    2013-01-01

    The purpose of this paper is to shed light on the endogenous nature of money. Contrary to the established post-Keynesian, or evolutionary, view, this paper argues that money has always been endogenous, irrespective of the historical period. Instead of the evolutionary theory of money and banking that can be traced back to Chick (1986), this paper puts forward a revolutionary definition of endogenous money consistent with many aspects of post-Keynesian economics as well as with the monetary ci...

  12. Energetic Issues Concerning the Content of Money

    OpenAIRE

    Negoescu Gheorghe; Radu Riana Iren

    2012-01-01

    In full times of crisis, money has become increasingly more important. We put the issue to analyze whether money can be considered a form of energy. The article is taking into consideration the conservation of energy and for money is due to kinetic energy during the boom and to potential energy during the crisis. In the article is also made an illustration of the energetic content of money at a company’s level.

  13. Fertility and money in an OLG model

    OpenAIRE

    Luciano Fanti

    2012-01-01

    We extend the two-period-lived-agent overlapping generations model with endogenous fertility and demand for money to understand whether and how the introduction of a money sector modifies what we have so far learned about fertility behaviours. It is shown that the existence of money may tend to exacerbate existing problems of either under-population or over-population.

  14. Homelessness and money mismanagement in Iraq and Afghanistan veterans.

    Science.gov (United States)

    Elbogen, Eric B; Sullivan, Connor P; Wolfe, James; Wagner, Henry Ryan; Beckham, Jean C

    2013-12-01

    We examined the empirical link between money mismanagement and subsequent homelessness among veterans. We used a random sample of Iraq and Afghanistan War era veterans from the National Post-Deployment Adjustment Survey in 2009-2011. Veterans were randomly selected from a roster of all US military service members in Operation Iraqi Freedom or Operation Enduring Freedom who were separated from active duty or in the Reserves/National Guard. Veterans (n = 1090) from 50 states and all military branches completed 2 waves of data collection 1 year apart (79% retention rate). Thirty percent reported money mismanagement (e.g., bouncing or forging a check, going over one's credit limit, falling victim to a money scam in the past year). Multivariate analysis revealed money mismanagement (odds ratio [OR] = 4.09, 95% CI = 1.87, 8.94) was associated with homelessness in the next year, as were arrest history (OR = 2.65, 95% CI = 1.33, 5.29), mental health diagnosis (OR = 2.59, 95% CI = 1.26, 5.33), and income (OR = 0.30, 95% CI = 0.13, 0.71). Money mismanagement, reported by a substantial number of veterans, was related to a higher rate of subsequent homelessness. The findings have implications for policymakers and clinicians, suggesting that financial education programs offered by the US Departments of Defense and Veterans Affairs may be targeted to effectively address veteran homelessness.

  15. Fractional Reserve Banking: Some Quibbles

    OpenAIRE

    Bagus, Philipp; Howden, David

    2010-01-01

    We explore several unaddressed issues in George Selgin’s (1988) claim that the best monetary system to maintain monetary equilibrium is a fractional reserve free banking one. The claim that adverse clearing balances would limit credit expansion in a fractional reserve free banking system is more troublesome than previously reckoned. Both lengthened clearing periods and interbank agreements render credit expansion unrestrained. “The theory of free banking” confuses increases in money held with...

  16. The Money in Circulation Demand

    OpenAIRE

    Daniel Kožel

    2000-01-01

    The paper discusses the main determinants of money-in-circulation demand in the Czech economy from 1996 to 1999. The volume of intended transactions (approximated by retail revenue from sales), the opportunity cost of holding cash (approximated by interest rate) and the expected rate of inflation are identified as the factors that most importantly account for the development of cash demand. A simple regression model was estimated in order to quantify the relationships among the aforementioned...

  17. PERLINDUNGAN HUKUM TERHADAP PEMEGANG KARTU E-MONEY SEBAGAI ALAT PEMBAYARAN DALAM TRANSAKSI KOMERSIAL

    Directory of Open Access Journals (Sweden)

    Ni Nyoman Anita Candrawati

    2014-03-01

    Full Text Available One means of electronic or non-cash payments are by using electronic money card (e-money. Value of money is stored electronically and issued on the basis of the value of money paid to the holders of the provider. The money is used as a means of payment, but not the deposit as stipulated in the Banking Law, so it is not guaranteed by Saving Guarantee Institution (LPS.   There are two issues that were examined in this study, namely: the arrangements for electronic money card holders in e-money transactions and legal protection for the cardholder to perform e-money transactions. The research is a normative legal research using law and conceptual approach. Based on the results of studies conducted on the issue, the legal regulation of the form of electronic    money    stipulated    in    Bank    Indonesia    Regulation    Number 11/12/PBI/2009   on   Electronic   Money,   and   through   standard   agreements governed by the provider, such as terms and conditions of the card holder. Legal protection for the cardholder is required to ensure the equality of the provider and the card holder, including legal protection against the misuse of e-money card that can be detrimental to the holder, through preventive and repressive legal protection.

  18. GENDERED DOLLARS: Pin Money, Mad Money, and Changing Notions of a Woman’s Proper Place

    Directory of Open Access Journals (Sweden)

    Janice Traflet

    2008-01-01

    Full Text Available This essay examines the evolution in the meaning and usage of two types of special currencies: pin money and mad money. At the start of the twentieth century, both currencies were considered a woman’s money. By the end of the century, however, both pin money and mad money had lost a large measure of their original gendered connotations. By situating the evolving meanings of these currencies alongside concepts of domesticity, virtuous womanhood, and a woman’s proper place, this essay strives to illuminate the rise and fall of pin money and mad money as uniquely “women’s dollars." 

  19. Money and trust among strangers.

    Science.gov (United States)

    Camera, Gabriele; Casari, Marco; Bigoni, Maria

    2013-09-10

    What makes money essential for the functioning of modern society? Through an experiment, we present evidence for the existence of a relevant behavioral dimension in addition to the standard theoretical arguments. Subjects faced repeated opportunities to help an anonymous counterpart who changed over time. Cooperation required trusting that help given to a stranger today would be returned by a stranger in the future. Cooperation levels declined when going from small to large groups of strangers, even if monitoring and payoffs from cooperation were invariant to group size. We then introduced intrinsically worthless tokens. Tokens endogenously became money: subjects took to reward help with a token and to demand a token in exchange for help. Subjects trusted that strangers would return help for a token. Cooperation levels remained stable as the groups grew larger. In all conditions, full cooperation was possible through a social norm of decentralized enforcement, without using tokens. This turned out to be especially demanding in large groups. Lack of trust among strangers thus made money behaviorally essential. To explain these results, we developed an evolutionary model. When behavior in society is heterogeneous, cooperation collapses without tokens. In contrast, the use of tokens makes cooperation evolutionarily stable.

  20. Money creation in a random matching model

    OpenAIRE

    Alexei Deviatov

    2004-01-01

    I study money creation in versions of the Trejos-Wright (1995) and Shi (1995) models with indivisible money and individual holdings bounded at two units. I work with the same class of policies as in Deviatov and Wallace (2001), who study money creation in that model. However, I consider an alternative notion of implementability–the ex ante pairwise core. I compute a set of numerical examples to determine whether money creation is beneficial. I find beneficial e?ects of money creation if indiv...

  1. THE TWO SIDES OF MONEY LAUNDERING

    Directory of Open Access Journals (Sweden)

    Corina – Maria ENE

    2014-12-01

    Full Text Available The mainly goal of money laundering is to carry out more and more illegal economic transactions or activities to produce individual or groups gains and then to legitimate them. Money laundering converts illicit source of money generated by criminal activities in order to hide the connection between money and their original illegal activities. This is one of money laundering side. The second side implies corruption. While money laundering is a passing channel for illicit funds due to its criminal origin source, such funds may derive from corruption offences. All corruption’s forms represent the most important illicit funds branches for money laundering process. Corrupt people methods used to exploit the national and international financial system reflect the relationship between those two criminal activities. Criminals achieve their personal interests by hiding their corruption proceeds and transfer these gains to official economies. Corruption spread in any society entails money laundering spread, and the converse, too. There is a quite “indecent” relationship between money laundering and corruption. This paper tries to identify the multiple connections between the two phenomenons showing the negative impacts these criminal behaviours are having on the national and international economy. We conclude by highlighting the necessity of a multidisciplinary approach in order to fight against money laundering and corruption by integrating these problem frameworks at national level. International community must focus their resources on money laundering and corruption risks areas and maximize their response impact.

  2. Diverging effects of clean versus dirty money on attitudes, values, and interpersonal behavior.

    Science.gov (United States)

    Yang, Qing; Wu, Xiaochang; Zhou, Xinyue; Mead, Nicole L; Vohs, Kathleen D; Baumeister, Roy F

    2013-03-01

    Does the cue of money lead to selfish, greedy, exploitative behaviors or to fairness, exchange, and reciprocity? We found evidence for both, suggesting that people have both sets of meaningful associations, which can be differentially activated by exposure to clean versus dirty money. In a field experiment at a farmers' market, vendors who handled dirty money subsequently cheated customers, whereas those who handled clean money gave fair value (Experiment 1). In laboratory studies with economic games, participants who had previously handled and counted dirty money tended toward selfish, unfair practices-unlike those who had counted clean money or dirty paper, both of which led to fairness and reciprocity. These patterns were found with the trust game (Experiment 2), the prisoner's dilemma (Experiment 4), the ultimatum game (Experiment 5), and the dictator game (Experiment 6). Cognitive measures indicated that exposure to dirty money lowered moral standards (Experiment 3) and reduced positive attitudes toward fairness and reciprocity (Experiments 6-7), whereas exposure to clean money had the opposite effects. Thus, people apparently have 2 contradictory sets of associations (including behavioral tendencies) to money, which is a complex, powerful, and ubiquitous aspect of human social life and cultural organization. PsycINFO Database Record (c) 2013 APA, all rights reserved

  3. The Rise and Fall of Money Growth Targets as Guidelines for U.S. Monetary Policy

    OpenAIRE

    Benjamin M. Friedman

    1996-01-01

    A familiar question raised by the Federal Reserve System's evolving use of money growth targets over the past twenty years is whether monetary policymakers had sound economic reasons for changing their procedures as they did -- either in adopting money growth targets in the first place, or in subsequently abandoning them, or in both instances. This paper addresses that question by comparing two kinds of evidence based on U.S. time-series data: first, evidence bearing on what Federal Reserve p...

  4. Big Money: The Effect of Money Size on Value Perceptions and Saving Motivation.

    Science.gov (United States)

    Peetz, Johanna; Soliman, Monica

    2016-01-28

    Motivated perception has been shown to affect people's estimates of money (e.g., perceiving coins as larger than real size). In the present research, we examine whether simply varying the size of a picture of money can affect its perceived value and subsequent decisions. Participants presented with a picture of money enlarged by 15% perceived the depicted money as more valuable compared with those seeing a real-size picture (Study 1). When told to imagine their own cash and banked money in the depicted form, participants presented with a picture enlarged by 15% felt more subjectively wealthy and reported fewer intentions to conserve their money compared with those seeing a real-size picture of the same money (Study 2). Together, these studies suggest that judgments about money and even attitudes toward personal spending can be influenced by manipulating the size of a picture of money. © The Author(s) 2016.

  5. Money Illusion and Housing Frenzies

    OpenAIRE

    Brunnermeier, Markus K; Julliard, Christian

    2007-01-01

    A reduction in inflation can fuel run-ups in housing prices if people suffer from money illusion. For example, investors who decide whether to rent or buy a house by simply comparing monthly rent and mortgage payments do not take into account the fact that inflation lowers future real mortgage costs. We decompose the price-rent ratio into a rational component—meant to capture the 'proxy effect' and risk premia—and an implied mispricing. We find that inflation and nominalinterest rates explain...

  6. Sport without game: Money laundering

    Directory of Open Access Journals (Sweden)

    Fijat Ljiljana M.

    2014-01-01

    Full Text Available Sport is firmly connected to politics in the whole world, the Republic of Serbia being no exception. Pronounced motives of profit in sport led to the appearance of new problems, like money laundering and business and moral unreliability of the participants. Some of anomalies are connected with politically exposed persons (PEP. Offering services within the banking industry, especially considering the private banking, entails a higher degree of discretion and confidentiality in comparison with the ordinary clients. Misuse of these business relationships by PEP has been identified. This paper surveys the statistically significant differences between domestic banks and the domestic banks with the foreign capital in relation to the groups of procedures concerning PEP based on the Recommendation 6 of the Financial Action Task Force on Money Laundering - FATF. Although the domestic banks with the foreign capital were obliged to apply the procedures related to the FATF's Recommendations to the same extent as the Main Office, significant differences between domestic and foreign banks were not found, in terms of Recommendation 6. Inadequacy of regulations and lack of enforcement procedures jeopardize the program of reforms, threatening, the privatisation in sports.

  7. Diverging Influences of Money Priming on Choice.

    Science.gov (United States)

    Kim, Hee Jin

    2017-01-01

    Prior research on money priming has suggested two seemingly contradicting findings. On the one hand, money has been shown to highlight the importance of cost saving, leading to the choice of a low-quality/low-price option. On the other hand, individuals primed with money as a symbol of social status, and capabilities may focus on social value of money, e.g., higher spending symbolizes higher status and prefer an option with high quality/high price. Current research proposes and demonstrates that whether money priming will lead different choices depends on the nature of the consumption context. Specifically, when the product is to be consumed privately, money priming will highlight the importance of cost, thus increasing the preference for lower price at a lower quality. However, when the product is to be consumed publicly, reversed pattern of consumer preference will be found.

  8. Stability of Money Demand Function in Pakistan

    Directory of Open Access Journals (Sweden)

    Haroon Sarwar

    2013-09-01

    Full Text Available The role, which money demand function plays in monetary policy formulation has attracted a lot of research studies to analyze this macroeconomic phenomenon. In the wake of current global and local economic and political upheavals, it is imperative to revisit the stability of money demand function. The study used the time series data and applied latest econometric techniques to find out the long run and short run money demand relationship. Moreover, all the three official monetary aggregates were used for finding out the most stable monetary demand relationship, which could provide correct signals for monetary policy formulation. The study found that broader monetary aggregate (M2 was the proper aggregate, which provided stable money demand function for Pakistan. The real GDP was positively related to the demand for real balances, while opportunity cost of money was negatively related. The study found that the role of financial innovation, in explaining the demand for money warrants attention in formulating monetary policy.

  9. Probabilistic political economy and endogenous money

    OpenAIRE

    Cockshott, W.P.; Cottrell, A.

    2008-01-01

    Since the foundational work of Farjoun and Machover , important contributions to the field of\\ud probabilistic economy have been made. In this context one naturally has conservation of money as a postulate. However\\ud it is questionable whether a capitalist economy could ever work with entirely exogenous money, and it\\ud is interesting to see to what extent probabilistic arguments can illuminate the evolution of the type of\\ud endogenous money system that characterizes contemporary capitalism....

  10. Some observations about the endogenous money theory

    OpenAIRE

    Bertocco Giancarlo

    2006-01-01

    The endogenous money theory constitutes the core element of the post-keynesian monetary theory. The first formulation of this theory can be found in the works of Kaldor published in the 1970s. Taking these studies as a starting point, the post-keynesians elaborated two versions of the endogenous money theory which differ in their assumptions about the behaviour of the monetary authorities and the banking system, and hence offer different conclusions about the slope of the money supply curve. ...

  11. A Theory of Money and Banking

    OpenAIRE

    David Andolfatto; Ed Nosal

    2003-01-01

    We construct a simple environment that combines a limited communication friction and a limited information friction in order to generate a role for money and intermediation. We ask whether there is any reason to expect the emergence of a banking sector (i.e., institutions that combine the business of money creation with the business of intermediation). In our model the unique equilibrium is characterized, in part, by the existence of an agent that: (1) creates money (a debt instrument that ci...

  12. Essays on the house money effect

    OpenAIRE

    Arnokourou, Athanasia

    2016-01-01

    This thesis provides a detailed analysis of the so-called `house money' or windfall endowment effect and its main determinants. Chapter 1 provides a detailed survey on the literature related to the house money effect. This effect according to Thaler and Johnson (1990) - refers to the situation where prior gains mitigate the influence of loss aversion and facilitate risk-seeking. The concept borrows its name from the expression employed in the gambling parlance of "playing with the house money...

  13. Modelling the Demand for Money in Pakistan

    OpenAIRE

    Qayyum, Abdul

    2005-01-01

    The study estimates the dynamic demand for money (M2) function in Pakistan by employing cointegration analysis and error correction mechanism. The parameters of preferred model are found to be super-exogenous for the relevant class of interventions. It is found that the rate of inflation is an important determinant of money demand in Pakistan. The analysis reveals that the rates of interest, market rate, and bond yield are important for the long-run money demand behaviour. Since the preferred...

  14. Money Demand Features in CEE Countries

    Directory of Open Access Journals (Sweden)

    Valentina-Ioana MERA

    2016-01-01

    Full Text Available The existence of a stable relationship between money demand and its determinants is important for the efficiency of monetary policy. In this paper we carried a preliminary analysis on the variables that can influence money demand in five Central and Eastern European countries (Bulgaria, Czech Republic, Hungary, Poland and Romania in order to determine which characteristics define the evolution of money demand and its determinants, and how volatile they are. The results indicate a number of similarities in terms of monetary development and also suggest that some additional variables that may influence money demand in this specific sample.

  15. Buffering effect of money priming on negative emotions—An ERP study.

    Science.gov (United States)

    Ma, Qingguo; Hu, Yue; Pei, Guanxiong; Xiang, Ting

    2015-10-08

    Recent studies have accumulated evidences that merely reminding people of money could lead to behavioral changes including alleviating both physical pain and social distress. However, the underlying neural mechanism regarding such pain-buffering effect of money is not clear. In this paper, we applied event-related potentials (ERP) to investigate the neural effect of money reminders on induced negative emotions. Subjects were first primed of money images and subsequently viewing unpleasant pictures, while EEG was recorded. Behavioral results suggested a reduced sensitivity to unpleasant pictures after participants being reminded of money. ERP data showed that money priming, compared to neutral priming, generated a larger N2 in frontal and posterior areas, reflecting an endogenous mental conflict and the recruitment of attention resources, and a smaller late positive potential (LPP) in parietal and occipital regions, indicating a regulating process of negative emotions. Additionally, how brain responded to money and neutral stimuli were also examined, indexed by "N170-P2" complex. This study provided additional neurophysiological evidences to support previous behavioral researches on money priming and discussed the two separated neural dynamic stages involved in emotion regulation. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

  16. GENERAL CONSIDERATIONS ON MONEY LAUNDERING

    Directory of Open Access Journals (Sweden)

    Elena EVA

    2015-04-01

    Full Text Available Lawyers are not immune to committing offences and the provisions of criminal law apply to them accordingly. The criminal liability of lawyers represents a natural aspect in the rule of law. Lawyers involved as defendants in criminal cases do not benefit from any special status or privileges compared to other defendants. In the international context of the fight against money laundering, the community law has submitted the profession of lawyer to two obligations concerning vigilance and denouncement. The assimilation of lawyer’s profession to financial or non-regulated professions entails the deformation of rules and principles specific to lawyers, as well as discussing the bases of any democratic society: the professional secrecy of lawyers and their independence.

  17. A practical application of the geological and mining characterization method to the “Rosa Porriño” deposit (Galicia, Spain). Quality cartography and estimation of the distribution of reserves for mining exploitation planning

    International Nuclear Information System (INIS)

    Ferrero Arias, A.; Taboada Castro, J.; Iglesias Comesaña, C.; Baltuille Martín, J.M.; Giráldez Pérez, E.

    2017-01-01

    This paper presents a study of the “Rosa Porriño” granite, which is known worldwide and has been marketed for more than 50 years, through the application of geologic-mining techniques. These techniques are widely used for analysing rock masses with the aim of commercially exploiting them. The basis is the general criteria for the characterization of geological and mining parameters: the lithologies present and their distribution, types and location of fractures, the industrial quality of the rock and the location of the exploitable rock volumes, previous activity, planning possibilities and rationalization of the exploitation, to name a few. This geological and mining information was used to make a map of the industrial qualities, forming the basis for the estimation of reserves and their distribution within the deposit. The application of geostatistical techniques allowed the definition of the three dimensions and thus the existing volumes corresponding to each industrial quality (defined in the geological-mining cartography). Four different qualities were defined and their volumes estimated, namely first and second qualities for granite suitable for its use as ornamental stone or other applications of high added value; third quality for the granite suitable for its use as a construction material (generally of smaller volume than the previous qualities) and the fourth quality for the granite for aggregates. The overburden zones were determined as well. Once the reserves of the qualities and their spatial distribution within the deposit are known, different alternatives for a rational exploitation can be considered for the existing operating units. This modelling enables a more effective and efficient mining operation, with controlled, lower environmental impact and thus with a more sustainable exploitation of the mining resources. [es

  18. Money, Markets and Social Power

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2016-05-01

    Full Text Available The future science of Economics must be human-centered, value-based, inclusive, global in scope and evolutionary in perspective. It needs to be fundamentally interdisciplinary to reflect the increasingly complex sectoral interconnections that characterize modern society. It must also be founded on transdisciplinary principles of social existence and human development that constitute the theoretical foundation for all the human sciences. This paper examines three fundamental aspects of modern economy to illustrate the types of issues and perspectives relevant to a reformulation of Economics framed within a broader political, social, cultural, psychological and ecological context. It examines the social forces responsible for the present functioning of economies, which can be effectively addressed and controlled only when they are made conscious and explicit. Whatever the powers that have shaped its development in the past, the rightful aim of economic science is a system of knowledge that promotes the welfare and well-being of all humanity. Markets and money are instruments for the conversion of social potential into social power. They harness the power of organization to transform human energies into the capacity for social accomplishment. The distribution of rights and privileges in society determines how these social institutions function and who benefits. Freedom means access to social power and is only possible in the measure all forms of that power—political, economic and social—are equitably distributed. The current system is inherently biased in favor of privileged elites reinforcing domination by the more powerful. The emergence of the individual is the vanguard of social evolution and the widest manifestation of creative individuality is its pinnacle. This emergence can only be fully achieved in conditions of freedom and equality. Economic theory needs to make explicit the underlying forces determining the distribution of power and

  19. The Meaning of Money: The Measurement and Dimensionality of the Money Ethic Scale.

    Science.gov (United States)

    Tang, Thomas Li-Ping; Kim, Jwa K.

    Money has been recognized as an important factor to attract, retain, and motivate employees and has significant impacts on people's behavior, performance, and effectiveness in organizations. Created to evaluate the validity of the Money Ethic Scale, this study investigates the measurement and dimensionality of money attitudes through…

  20. The Economics of Crime and Money Laundering: Does Anti-Money Laundering Policy Reduce Crime?

    NARCIS (Netherlands)

    Ferwerda, J.|info:eu-repo/dai/nl/314405526

    2008-01-01

    Anti-money laundering policy has become a major issue in the Western world, especially in the United States after 9-11. Basically all countries in the world are more or less forced to cooperate in the global fight against money laundering. In this paper, the criminalization of money laundering is

  1. 'Strange money': risk, finance and socialized debt.

    Science.gov (United States)

    Dodd, Nigel

    2011-03-01

    This paper explores an essential but neglected aspect of recent discussions of the banking and financial system, namely money itself. Specifically, I take up a distinction drawn by Susan Strange which has never been fully elaborated: between a financial system that is global, and an international monetary system that remains largely territorial. I propose a sociological elaboration of this distinction by examining each category, 'finance' and 'money', in terms of its distinctive orientation to risk and debt. Money is distinguished by its high degree of liquidity and low degree of risk, corresponding to expectations that derive from its status as a 'claim upon society'- a form of socialized debt. But as Strange argued, these features of money are being undermined by the proliferation of sophisticated instruments of financial risk management -'strange money'- that, as monetary substitutes, both weaken states' capacity to manage money, and more broadly, contribute to 'overbanking'. The ultimate danger, according to Strange, is the 'death of money'. The paper concludes by exploring the implications of the distinction for sociological arguments about the changing nature of money. © London School of Economics and Political Science 2011.

  2. Does Money Matter in Education? Second Edition

    Science.gov (United States)

    Baker, Bruce D.

    2016-01-01

    This second edition policy brief revisits the long and storied literature on whether money matters in providing a quality education. It includes research released since the original brief in 2012 and covers a handful of additional topics. Increasingly, political rhetoric adheres to the unfounded certainty that money does not make a difference in…

  3. 7 CFR 3560.462 - Money laundering.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Money laundering. 3560.462 Section 3560.462 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING SERVICE, DEPARTMENT OF... Other Actions § 3560.462 Money laundering. The Agency will act in accordance with U.S. Code Title 18...

  4. A classroom game to teach the principles of money and banking

    Directory of Open Access Journals (Sweden)

    Adam Hoffer

    2015-12-01

    Full Text Available This paper describes how to implement and run a game for teaching the principles of money and banking to an undergraduate economics class. The game primarily deals with the market for loanable funds, but numerous extensions are provided to cover topics such as monetary policy, the tools of the Federal Reserve, shifts in the equilibrium of the market for loanable funds, and the quantity theory of money. The experiment can be used in principles, intermediate macroeconomics, or money and banking courses. The experiment takes approximately 45 minutes to run, depending on class size, and requires no computers.

  5. Predicate Offences of Money Laundering and Anti Money Laundering Practices in Bangladesh Among South Asian Countries

    Directory of Open Access Journals (Sweden)

    Islam Mohammad Saiful

    2017-12-01

    Full Text Available The purpose of the study is to identify the main reasons of money laundering in Bangladesh among the twenty seven predicate offences of money laundering prescribed by Bangladesh Bank and position of Bangladesh among South Asian Countries regarding anti-money laundering practices. Besides, an anti-money laundering model has been developed to combat against money laundering as 14 percent bankers think that only existing know your customer form and transaction profile of banking sector are not enough to detect money laundering. To conduct the study, 91 bankers have been surveyed to take response through structured questionnaire regarding their opinion about the predicate offences of money laundering and sufficiency of existing KYC form of banking sector to detect money laundering. From the responses, factor analysis, test of hypothesis, correlation and regression analysis have been conducted using SPSS software. The study identifies that predicate offences of money laundering can be minimized mainly through scrutinizing the activities of local criminals with foreign network and strict anti-corruption measures through automation in National Board of Revenue, strict policy adoption of criminal detection and support from foreign experts. Besides, regression model shows that only six predicate offences of money laundering explains 87.2 percent of money laundering that should get more emphasize to combat against money laundering. From the comparative analysis, it has been found that Bangladesh in holding better position just after India among six South Asian Countries according to Basel AML Index score. This study provides a complete understanding of the position of Bangladesh in case of money laundering and anti-money laundering practices. The integration of four domains, i.e. AML model development, factor analysis, econometric analysis and comparative analysis of AML index will provide insights to managers and policy makers about the money laundering

  6. Time and Money - Are they Substitutes?

    DEFF Research Database (Denmark)

    Bonke, Jens; Deding, Mette; Lausten, Mette

    In this paper, we analyse the distribution of time and money for Danish wage earner couples, where time is defined as leisure time and money as extended income, i.e. the sum of disposable income and the value of housework. The hypothesis is that individuals being rich in one dimension are more...... likely to be poor in the other dimension, such that individuals can be classified as either money-poor/time-rich or money-rich/time-poor. We analyse two different distributions of income, where the first assumes no sharing and the second complete sharing of income between spouses. The data are from...... the Danish Time-Use Survey 2001, merged with register data. Results show that the substitution of money for time is more prominent for women than for men, because they have a larger income share of time-intensive value of housework, while men have the larger share of disposable income. Furthermore, when...

  7. Explaining money creation by commercial banks

    DEFF Research Database (Denmark)

    Ravn, Ib

    2015-01-01

    created by commercial banks, as explained by the Bank of England recently (McLeay, Radia & Thomas, 2014b), is often met with incredulity: “What do you mean, created?” This paper introduces five easy-to-grasp analogies that educators and reformers may use to convey key money-creation concepts to a lay......Educators and economists concerned with monetary reform face the extraordinary challenge of explaining to the public and its elected representatives not only what a reformed system would look like, but also how the current system works. Centrally, the point that in a modern economy money is largely...... audience. The analogies offered include (1) money as patches in an expandable patchwork quilt that covers a nation’s real assets, (2) the money supply as water in a bathtub with a faucet and a drain, (3) money understood as debt in a model economy run by schoolchildren, (4) the misleading concept of a bank...

  8. GENDERED DOLLARS: Pin Money, Mad Money, and Changing Notions of a Woman’s Proper Place

    OpenAIRE

    Janice Traflet

    2008-01-01

    This essay examines the evolution in the meaning and usage of two types of special currencies: pin money and mad money. At the start of the twentieth century, both currencies were considered a woman’s money. By the end of the century, however, both pin money and mad money had lost a large measure of their original gendered connotations. By situating the evolving meanings of these currencies alongside concepts of domesticity, virtuous womanhood, and a woman’s proper place, this essay strives t...

  9. Money and transmission of bacteria.

    Science.gov (United States)

    Gedik, Habip; Voss, Timothy A; Voss, Andreas

    2013-08-28

    Money is one of the most frequently passed items in the world. The aim of this study was to ascertain the survival status of bacteria including Staphylococcus aureus, Escherichia coli, and Vancomycin- Resistant Enterococci (VRE) on banknotes from different countries and the transmission of bacteria to people who come in contact with the banknotes. The survival rate was highest for the Romanian Leu yielding all three microorganisms used after both three and six hours of drying. Furthermore, the Leu was the only banknote to yield VRE after one day of drying. Other currencies either enabled the survival of Extended-Spectrum Beta-Lactamases (ESBL) and VRE (e.g. Euro), but not of MRSA, or the other way round (e.g. US Dollar). While a variety of factors such as community hygiene levels, people's behaviour, and antimicrobial resistance rates at community level obviously have influence on the transmission of resistant microorganisms, the type of banknote-paper may be an additional variable to consider.

  10. Money and the Quality of Life

    Directory of Open Access Journals (Sweden)

    Luburić Radoica

    2017-09-01

    Full Text Available This paper deals with the influence of money on the quality of life, in the light of the major importance it has on all aspects of our lives. Bearing in mind that money is an everyday, inseperable and unavoidable companion, with all its advantages and power, as well as its numerous challenges, risks and temptations, it inevitably affects all segments of the quality of life. The relation between money and quality of life, therefore, can be viewed not only theoretically, but also at a practical level. In the times we live in, which have been labelled the digital age, with ever increasing change, the key questions which arise are whether and to what extent do people really manage their money, and to what extent does money manage people and their lives, do people own money or does money own people? Although it sounds paradoxical, money causes people financial worries, whether they have it or whether they do not and so can significantly influence their quality of life. Standard macro-economic indicators, traditionally used as measures of the well-being of society, do not always give a real and complete picture of the quality of life, as this encompasses the way of life, as well as the standard of living. The quality of life includes the whole spectrum of factors, not only economic, but also many others which lead to satisfaction, both material and spiritual. These can include financial and material living conditions, employment, health, education, leisure time and social activities, economic and physical safety, human rights and freedoms, protection of the environment and overall life satisfaction. This paper analyses the direct and indirect connections between effective and efficient money management and the aforementioned factors which are decisive in forming the quality of life.

  11. Cigarette smoking in Chinese adolescents: importance of controlling the amount of pocket money.

    Science.gov (United States)

    Ma, J; Zhu, J; Li, N; He, Y; Cai, Y; Qiao, Y; Redmon, P; Wang, Z

    2013-07-01

    To estimate the proportion of smokers that could potentially have been prevented from smoking by limiting the amount of pocket money received by Chinese adolescents. Cross-sectional study. Current smoking, ever smoking and the amount of pocket money were determined through self-administered questionnaires among 12,708 adolescents (aged 12-18 years) from 21 schools in Shanghai, China. Adjusted odds ratios for current smoking ranged from 2.0 [95% confidence interval (CI) 1.5-2.7] for adolescents receiving 200-399 Reminbin (RMB)/month as pocket money to 6.5 (95% CI 3.3-12.7) for those receiving ≥1000 RMB/month, compared with those receiving money (≥200 RMB/month) for current smoking was 50.4% (95% CI 42.2-57.4), and adjusted PAR% was 43.3% (95% CI 30.7-53.1). Approximately half of current smokers may have been prevented from smoking if pocket money was limited to money was reduced further. It is recommended that future intervention programmes should target parents to reduce the amount of pocket money in China. Copyright © 2013 The Royal Society for Public Health. Published by Elsevier Ltd. All rights reserved.

  12. An elementary model of money circulation

    Science.gov (United States)

    Pokrovskii, Vladimir N.; Schinckus, Christophe

    2016-12-01

    This paper investigates money circulation for a system, consisting of a production system, the government, a central bank, commercial banks and many customers of the commercial banks. A set of equations for the system is written; the theory determines the main features of interaction between production and money circulation. Investigation of the equations in a steady-state situation reveals some relationship among output of the production system and monetary variables. The relation of quantity theory of money is confirmed, whereas a new concept of the efficiency of the system is introduced.

  13. Should we take inside money seriously?

    OpenAIRE

    Stracca, Livio

    2007-01-01

    This paper presents a dynamic general equilibrium model with sticky prices, in which "inside" money, made out of commercial banks’ liabilities, plays an active, structural role role. It is shown that, in such a model, an inside money shock has a well-defined meaning. A calibrated version of the model is shown to generate small, but non-negligible effects of inside money shocks on output and inflation. I also simulate the effect of a banking crisis in the model. Moreover, I find that it is opt...

  14. Money and sociality: Measuring the unmeasurable money as justice, time and usury

    Directory of Open Access Journals (Sweden)

    Janković Zoran

    2016-01-01

    Full Text Available Levinas confirms: a reflection about a money as a social and economical reality is not possible without a serious analysis of empirical data. On the other hand, this reflection always involves something else, so a money is never a merely economical category. In that sense, Levinas proposes an intriguing meditation about some “dimensions” of a money in the western tradition. Contrary to the traditional moral condemnation of a money - which however remains unquestionable because of the fact that a man always carries a risk of becoming a merchandise - Levinas suggests that money never simply means a reification, but always implies some positive dimensions. Levinas suggests that a money is not something morally bad or simply neutral covering human relationships, but rather a condition of human community. Furthermore, he claims that a money is a fundament of the justice. A money makes possible a community, he explains, because it opens up the dimension of the future, and implies the existence of human beings who give themselves a credit; a credit understood as a time and a confidence. We shall try to address some problems implied by this thesis, particularly the problem of the relationship between time, money and credit. Finally, we are going to ask whether this cred­it - inseparable from the very essence of the money - is not always already a sort of usury.

  15. 31 CFR 515.326 - Custody of safe deposit boxes.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Custody of safe deposit boxes. 515... Definitions § 515.326 Custody of safe deposit boxes. Safe deposit boxes shall be deemed to be in the custody... upon the meaning of the term custody. ...

  16. 31 CFR 500.326 - Custody of safe deposit boxes.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Custody of safe deposit boxes. 500... Definitions § 500.326 Custody of safe deposit boxes. Safe deposit boxes shall be deemed to be in the custody... upon the meaning of the term custody. ...

  17. Endogenous Money, Output and Prices in India

    OpenAIRE

    Das, Rituparna

    2009-01-01

    This paper proposes to quantify the macroeconometric relationships among the variables broad money, lending by banks, price, and output in India using simultaneous equations system keeping in view the issue of endogeneity.

  18. international money transfer services market in uzbekistan

    International Development Research Centre (IDRC) Digital Library (Canada)

    Kuchkarov

    . Money Transfering Points in the Market . ..... that the level of education of labor migrants from Uzbekistan is higher than the average level of education ..... Ands: Peru, Bolivia, Ecuador and Columbia. Intracontinental migration of labor force in.

  19. Sex Differences in Money Pathology in the General Population.

    Science.gov (United States)

    Furnham, Adrian; von Stumm, Sophie; Fenton-O'Creevy, Mark

    This study examined sex differences in money beliefs and behaviours. Over 100,000 British participants completed two measures online, one of which assessed "money pathology" (Forman in Mind over money, Doubleday, Toronto, 1987), and the other four "money types", based on the emotional associations of money (Furnham et al. in Personal Individ Differ, 52:707-711, 2012). Nearly all measures showed significant sex differences with medium to large effect sizes, and with females exhibiting more "money pathology" than males. The biggest difference on the money types was on money being associated with generosity (money representing love) where men scored much lower than females, and autonomy (money representing freedom) where men scored higher than women. For men, more than women, money represented Power and Security. Men were more likely to be Hoarders while women did more emotional regulatory purchasing. Implications and limitations of this study are discussed.

  20. Does More Money Buy You More Happiness?

    OpenAIRE

    Baucells, M.; Sarin, R. K.

    2007-01-01

    Why do we believe that more money will buy us more happiness (when in fact it does not)? In this paper, we propose a model to explain this puzzle. The model incorporates both adaptation and social comparison. A rational person who fully accounts for the dynamics of these factors would indeed buy more happiness with money. We argue that projection bias, that is, the tendency to project into the future our current reference levels, precludes subjects from correctly calculating the utility obtai...

  1. Adjusted Money's Worth Ratios in Life Annuities

    OpenAIRE

    Jaime Casassus; Eduardo Walker

    2013-01-01

    The Money's Worth Ratio (MWR) measures an annuity's actuarial fairness. It is calculated as the discounted present value of expected future payments divided by its cost. We argue that from the perspective of annuitants, this measure may overestimate the value-for-money obtained, since it does not adjust for liquidity or risk factors. Measuring these factors is challenging, requiring detailed knowledge of assets, liabilities, and of the stochastic processes followed by them. Using a multi-fact...

  2. Managing money and retirement planning: Academics' perspectives

    OpenAIRE

    Ming-Ming Lai; Ming-Ling Lai; Siok-Hwa Lau

    2009-01-01

    This paper examines money attitudes and associated retirement issues of academics in higher education in Malaysia. Systematic random sampling was used in selecting the target respondents. A questionnaire was personally administered on 458 academics in 16 universities in Malaysia. The survey found that academics exhibited positive attitudes toward money, and income appears to be the prime motivator. Consistent with the findings of prior studies, position, age and educational levels were strong...

  3. Global liquidity, money growth and UK inflation

    OpenAIRE

    Michael Ellington; Costas Milas

    2014-01-01

    This paper examines the inflationary impact of domestic and global liquidity conditions on UK inflation through the lens of monetary aggregates. To do so, we rely on standard linear models as well as non-linear models that allow for regime switching behaviour in terms of a contained regime (when domestic money growth is relatively concealed) versus an uncontained regime (when domestic money growth is unusually unconcealed). We find that global liquidity yields inflationary pressures in the UK...

  4. Money and Growth: An Alternative Approach.

    OpenAIRE

    Ireland, Peter N

    1994-01-01

    This paper takes an alternative approach to the topic of money and growth by developing a model in which the effects of sustained capital accumulation on an evolving system of payments, in addition to the conventional effects of sustained inflation on growth, are examined. While the effects of inflation on growth are small, the effects of growth on the monetary system are substantial. The results are consistent with ideas about money and growth contained in work that predates that of James To...

  5. When Love Meets Money: Priming the Possession of Money Influences Mating Strategies.

    Science.gov (United States)

    Li, Yi Ming; Li, Jian; Chan, Darius K-S; Zhang, Bo

    2016-01-01

    Money is an important factor that influences the development of romantic relationships. The current paper examines how the feeling of having relatively more or less money influences human mating strategies in long-term and short-term mating contexts under the framework of evolutionary psychology. We recruited mainland Chinese college students involved in steady, heterosexual romantic relationships to participate in two experiments. In each study, we experimentally triggered participants' feelings of having relatively more or less money and then examined their thoughts and behaviors related to mating. Results of Study 1 showed that men who were primed to feel that they had relatively more money were less satisfied with their partners' physical attractiveness than those primed to feel that they had less money, suggesting that the subjective feeling of having more or less money may affect men's preferences regarding the physical appearance of a mate in a long-term relationship. Interestingly, this difference was not significant for women. Results of Study 2 indicated that both men and women who were primed to feel that they had relatively more money exhibited a greater "behavioral approach tendency" toward an attractive member of the opposite sex than those primed to feel that they had less money. This finding suggests that people who feel they have relatively more money may have more interest in an attractive alternative than those who feel they have relatively less money. The differences in mating strategies between and within the genders brought about by money support the evolutionary hypothesis that individuals adopt conditional mating strategies in response to environmental conditions. Additionally, the results of experimental studies provide evidence for the causal effects of money on mating strategies. These findings have both conceptual and practical implications for the psychology of evolution and romantic relationships.

  6. The love of money results in objectification.

    Science.gov (United States)

    Wang, Xijing; Krumhuber, Eva G

    2017-06-01

    Objectification, which refers to the treatment of others as objectlike things, has long been observed in capitalism. While the negative impact of money on interpersonal harmony has been well documented, the social cognitive processes that underlie them are relatively unknown. Across four studies, we explored whether the love of money leads to objectification, while controlling for social power and status. In Study 1, the love and importance attached to money positively predicted the tendency to construe social relationships based on instrumentality. In Study 2, the likelihood to favour a target of instrumental use was increased by momentarily activating an affective state of being rich. Temporarily heightening the motivation for money further resulted in deprivation of mental capacities of irrelevant others, including humans (Study 3) and animals (Study 4). This lack of perceived mental states partially mediated the effects of money on subsequent immoral behaviour (Study 4). The findings are the first to reveal the role of objectification as a potential social cognitive mechanism for explaining why money often harms interpersonal harmony. © 2016 The British Psychological Society.

  7. The role of money in the excitement of gambling.

    Science.gov (United States)

    Wulfert, Edelgard; Franco, Christine; Williams, Kevin; Roland, Brian; Maxson, Julie Hartley

    2008-09-01

    Many gamblers claim that gambling is intrinsically exciting, with money playing only a secondary role. To examine the effects of the expectancy of winning money, the authors randomly assigned 243 male college student gamblers to 1 of 6 experimental or 1 of 3 control conditions. Control participants either simply watched a videotaped horse race or they picked a horse, but without wagering; that horse later turned out to be either the winner of the race or the runner-up. Experimental participants wagered $1 on a horse for a chance of winning either USD 2, USD 7, or USD 15, with half winning and half losing their wagers. Wagering led to increased heart rates and subjective excitement as a function of the expected payoff and of winning as opposed to losing the wager. The study was replicated with 200 female college student gamblers with similar results. These findings support the notion that the excitement of gambling is tied to the expectancy of winning money. (c) 2008 APA, all rights reserved.

  8. 24 CFR 81.83 - Civil money penalties.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Civil money penalties. 81.83... § 81.83 Civil money penalties. (a) Imposition. The Secretary may impose a civil money penalty on a GSE... writing of the Secretary's determination to impose a civil money penalty by issuing a Notice of Intent to...

  9. 29 CFR 530.302 - Amounts of civil money penalties.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 3 2010-07-01 2010-07-01 false Amounts of civil money penalties. 530.302 Section 530.302... EMPLOYMENT OF HOMEWORKERS IN CERTAIN INDUSTRIES Civil Money Penalties § 530.302 Amounts of civil money penalties. (a) A civil money penalty, not to exceed $500 per affected homeworker for any one violation, may...

  10. The Regulation of electronic money institutions in the SADC region ...

    African Journals Online (AJOL)

    The Regulation of electronic money institutions in the SADC region: Some lessons from the EU. ... the lessons learned. KEYWORDS: Bank Directives; electronic money; European Union; hardware-based e-money; initial capital; payment systems; prudential requirements; SADC; software-based e-money, technology-neutral.

  11. When Love Meets Money: Priming the Possession of Money Influences Mating Strategies

    Directory of Open Access Journals (Sweden)

    Yi Ming eLi

    2016-03-01

    Full Text Available Money is an important factor that influences the development of romantic relationships. The current paper examines how the feeling of having relatively more or less money influences human mating strategies in long-term and short-term mating contexts under the framework of evolutionary psychology. We recruited mainland Chinese college students involved in steady, heterosexual romantic relationships to participate in two experiments. In each study, we experimentally triggered participants’ feelings of having relatively more or less money and then examined their thoughts and behaviors related to mating. Results of Study 1 showed that men who were primed to feel that they had relatively more money were less satisfied with their partners’ physical attractiveness than those primed to feel that they had less money, suggesting that the subjective feeling of having more or less money may affect men’s preferences regarding the physical appearance of a mate in a long-term relationship. Interestingly, this difference was not significant for women. Results of Study 2 indicated that both men and women who were primed to feel that they had relatively more money exhibited a greater behavioral approach tendency toward an attractive member of the opposite sex than those primed to feel that they had less money. This finding suggests that people who feel they have relatively more money may have more interest in an attractive alternative than those who feel they have relatively less money. The differences in mating strategies between and within the genders brought about by money support the evolutionary hypothesis that individuals adopt conditional mating strategies in response to environmental conditions. These findings have both conceptual and practical implications for the psychology of evolution and romantic relationships.

  12. Money talks? An experimental investigation of cheap talk and burned money

    NARCIS (Netherlands)

    de Haan, T.; Offerman, T.; Sloof, R.

    2011-01-01

    We experimentally study the strategic transmission of information in a setting where both cheap talk and money can be used for communication purposes. Theoretically a large number of equilibria exist side by side, in which senders either use costless messages, money, or a combination of the two. We

  13. Money talks? An experimental investigation of cheap talk and burned money

    NARCIS (Netherlands)

    de Haan, T.; Offerman, T.; Sloof, R.

    2015-01-01

    We experimentally study the strategic transmission of information in a setting where both cheap talk and money can be used. Theoretically, many equilibria exist side by side, in which senders use either costless messages, money, or both. We find that senders prefer to communicate through costless

  14. Money talks? An experimental investigation of cheap talk and burned money

    NARCIS (Netherlands)

    de Haan, T.; Offerman, T.; Sloof, R.

    2012-01-01

    We experimentally study the strategic transmission of information in a setting where both cheap talk and money can be used for communication purposes. Theoretically a large number of equilibria exist side by side, in which senders either use costless messages, money, or a combination of the two. We

  15. Money creation process in a random redistribution model

    Science.gov (United States)

    Chen, Siyan; Wang, Yougui; Li, Keqiang; Wu, Jinshan

    2014-01-01

    In this paper, the dynamical process of money creation in a random exchange model with debt is investigated. The money creation kinetics are analyzed by both the money-transfer matrix method and the diffusion method. From both approaches, we attain the same conclusion: the source of money creation in the case of random exchange is the agents with neither money nor debt. These analytical results are demonstrated by computer simulations.

  16. Experimental quantum forgery of quantum optical money

    Science.gov (United States)

    Bartkiewicz, Karol; Černoch, Antonín; Chimczak, Grzegorz; Lemr, Karel; Miranowicz, Adam; Nori, Franco

    2017-03-01

    Unknown quantum information cannot be perfectly copied (cloned). This statement is the bedrock of quantum technologies and quantum cryptography, including the seminal scheme of Wiesner's quantum money, which was the first quantum-cryptographic proposal. Surprisingly, to our knowledge, quantum money has not been tested experimentally yet. Here, we experimentally revisit the Wiesner idea, assuming a banknote to be an image encoded in the polarization states of single photons. We demonstrate that it is possible to use quantum states to prepare a banknote that cannot be ideally copied without making the owner aware of only unauthorized actions. We provide the security conditions for quantum money by investigating the physically-achievable limits on the fidelity of 1-to-2 copying of arbitrary sequences of qubits. These results can be applied as a security measure in quantum digital right management.

  17. Money Matters. FDIC Money Smart Financial Education Curriculum = Cuestiones de Dinero. FDIC Money Smart Plan de Educacion para Capacitacion en Finanzas.

    Science.gov (United States)

    Federal Deposit Insurance Corp., Washington, DC.

    This module on how to keep track of one's money is one of ten in the Money Smart curriculum, and includes an instructor guide and a take-home guide. It was developed to help adults outside the financial mainstream enhance their money skills and create positive banking relationships. It is designed to enable participants to prepare a personal…

  18. Money and the natural rate of unemployment

    DEFF Research Database (Denmark)

    Østrup, Finn

    mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including: the uses of monetary policy and monetary regimes in achieving macroeconomic goals; the impact of an independent central bank; the effects of a movement from floating exchange...... undergraduate and graduate students in macroeconomics, labour economics and finance. This work offers a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed...

  19. The Topology of Danish Interbank Money Flows

    DEFF Research Database (Denmark)

    Rørdam, Kirsten Bonde; Bech, Morten Linnemann

    This paper presents the first topological analysis of Danish money market flows. We analyze the structure of two networks with different types of transactions. The first network is the money market network, which is driven by banks' behavior on the interbank market, the second is the network...... of customer driven transactions, which is driven by banks' customers' transactions demand. We show that the structure of these networks differ. This paper adds to the new and growing literature on network topological analysis of payment systems....

  20. Money and bonds: an equivalence theorem

    OpenAIRE

    Narayana R. Kocherlakota

    2007-01-01

    This paper considers four models in which immortal agents face idiosyncratic shocks and trade only a single risk-free asset over time. The four models specify this single asset to be private bonds, public bonds, public money, or private money respectively. I prove that, given an equilibrium in one of these economies, it is possible to pick the exogenous elements in the other three economies so that there is an outcome-equivalent equilibrium in each of them. (The term ?exogenous variables? ref...

  1. Is money laundering a true problem in China?

    Science.gov (United States)

    Ping, He

    2006-02-01

    Money laundering was stipulated as an offense by Chinese criminal law more than 10 years ago. However, the judicial situation is such that no one has yet been prosecuted for it. This article describes the phenomena that are closely related to money laundering, namely the current situation of the predicate offences and other factors conducive to money laundering such as corruption, underground bank shops, and shell companies. Based on these facts, the article infers that money laundering is a real problem in China. Then it explores the reasons why case examples of money laundering are not available. Finally, this article presents some of the factors necessary in the investigation of money laundering.

  2. Youth Perspectives of Achievement: Is Money Everything?

    Science.gov (United States)

    Matope, Jasmine; Badroodien, Azeem

    2015-01-01

    This article draws from a qualitative research project completed at Victoria High School (pseudonym) in Cape Town in 2012 which explored 13 learners' perspectives of achievement and its influence on their lives and thinking. The piece problematises and analyses taken-for-granted connections between money, achievement, youth aspirations and views…

  3. Helping Students to Become Money Smart

    Science.gov (United States)

    Supon, Viola

    2012-01-01

    Being money smart has value that offers individuals skills for a lifetime. "Lawmakers had no way of knowing in 2007 that the U. S. economic situation would be where it is today, making financial education for students now even more crucial than at any other time in recent history" (Black, 2009, p. 1). According to Beverly & Burkhalter (2005, p.…

  4. Money Matters for the Young Learner

    Science.gov (United States)

    Hill, Andrew T.

    2010-01-01

    Children's economic reasoning follows a developmental sequence in which their ideas about money and other basic economic concepts are forming. Even children in the early primary grades can learn some basic economics and retain understanding of economic concepts if they are taught in developmentally appropriate ways. Given how important economic…

  5. Your Housing Dollar. [Revised.] Money Management.

    Science.gov (United States)

    Baran, Nancy H., Ed.; Tarrant, Sharon M., Ed.

    This booklet on housing, 1 in a series of 12, covers all the basic aspects of personal- and family-money management. Suitable for use by high school and college students as well as adults, this handbook shows how to determine housing needs and analyze housing costs, whether one rents, buys, or builds a home. The first five sections briefly…

  6. Spending Time and Money within the Household

    DEFF Research Database (Denmark)

    Browning, Martin; Gørtz, Mette

    2012-01-01

    We consider, both theoretically and empirically, the allocation of time and money within the household. The research question is whether a married person who enjoys more leisure than their partner also receives more consumption (which seems to indicate the outcome of power within the household...

  7. Your Shopping Dollar. [Revised.] Money Management.

    Science.gov (United States)

    Baran, Nancy H., Ed.; Tarrant, Sharon M., Ed.

    This booklet on shopping, 1 in a series of 12, covers all the basic aspects of personal- and family-money management. Suitable for use by high school and college students as well as adults, this handbook tells how to plan spending, develop shopping skills, and handle consumer problems effectively. Section 1 on consumers and the economy overviews…

  8. Money, Banking and Dynamics: Schumpeter vs. Hayek

    OpenAIRE

    Agnès Festré

    2002-01-01

    In the first section we discuss the Wicksellian origins of Schumpeter's and Hayek's approaches to money and banking in the context of dynamic economic analysis. The second section compares the role played by banks and credit in Schumpeter's and Hayek's explanation of economic fluctuations. We conclude by contrasting both authors' perception of economic dynamics.

  9. Money Related Decommissioning and Funding Decision Making

    International Nuclear Information System (INIS)

    Goodman, Lynne S.

    2008-01-01

    'Money makes the world go round', as the song says. It definitely influences decommissioning decision-making and financial assurance for future decommissioning. This paper will address two money-related decommissioning topics. The first is the evaluation of whether to continue or to halt decommissioning activities at Fermi 1. The second is maintaining adequacy of financial assurance for future decommissioning of operating plants. Decommissioning costs considerable money and costs are often higher than originally estimated. If costs increase significantly and decommissioning is not well funded, decommissioning activities may be deferred. Several decommissioning projects have been deferred when decision-makers determined future spending is preferable than current spending, or when costs have risen significantly. Decommissioning activity timing is being reevaluated for the Fermi 1 project. Assumptions for waste cost-escalation significantly impact the decision being made this year on the Fermi 1 decommissioning project. They also have a major impact on the estimated costs for decommissioning currently operating plants. Adequately funding full decommissioning during plant operation will ensure that the users who receive the benefit pay the full price of the nuclear-generated electricity. Funding throughout operation also will better ensure that money is available following shutdown to allow decommissioning to be conducted without need for additional funds

  10. Your Recreation Dollar. [Revised.] Money Management.

    Science.gov (United States)

    Baran, Nancy H., Ed.; Tarrant, Sharon M., Ed.

    This booklet on recreation, 1 in a series of 12, covers all the basic aspects of personal- and family-money management. Suitable for use by high school and college students as well as adults, this handbook suggests ways to plan recreation expenses for special activities, equipment, and vacation travel. Section 1 looks at the need for recreation…

  11. Money, Manipulation and Misunderstanding on Manus Island

    DEFF Research Database (Denmark)

    Wallis, Joanne; Dalsgaard, Steffen

    2016-01-01

    Island, on domestic affairs in PNG, and on the relationship between PNG and Australia. Overall, it concludes that the costs arising from the money, manipulation and misunderstanding generated by the centre seem likely to outweigh the purported benefits, particularly for Manusians and other ordinary Papua...

  12. UK money demand 1873-2001

    DEFF Research Database (Denmark)

    Nielsen, Heino Bohn

    2007-01-01

    This paper performs a multivariate cointegration analysis of UK money demand 1873-2001, and illustrates how a long-run time series analysis may be conducted on a data set characterized by turbulent episodes and institutional changes. We suggest accounting for the effects of the two world wars...

  13. Mexico's digital money revolution | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2017-06-20

    Jun 20, 2017 ... The Prospera Digital e-banking program aims to put money in the hands of Mexico's low-income women with just a few taps — and transform their lives in ... High-speed Internet access, or broadband, can effectively contribute to economic and social development, but only when it is combined with investme.

  14. Money and the natural rate of unemployment

    DEFF Research Database (Denmark)

    Østrup, Finn

    mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including: the uses of monetary policy and monetary regimes in achieving macroeconomic goals; the impact of an independent central bank; the effects of a movement from floating exchange...

  15. The History of Money in Montenegro

    Directory of Open Access Journals (Sweden)

    Fabris Nikola

    2015-01-01

    Full Text Available The paper depicts the history of using money in Montenegro covering the period before the Christ until nowadays. Montenegro mostly used foreign currencies throughout its long history, these being Roman, Austro-Hungarian, Turkish, Venetian, and even the Napoleon (French gold coin money. The first ideas for Montenegro’s own money came from the Bishop Petar Petrovic Njegoš in the 19th century. The first Montenegrin money, the Perper, was minted in 1906. The King Nikola`s Decree as of 11 April 1906 authorized the Ministry of Finance to mint the nickel and bronze coins. Silver and gold coins were minted later. The Perper disappeared from the scene with Montenegro’s joining the Kingdom of Serbs, Croats and Slovenes, putting into circulation the Dinar, a currency of the newly established state. Montenegro, being a part of the Socialist Federal Republic of Yugoslavia, used the Dinar as its currency after World War II until 1999. Dual currency system consisting of the German Mark and the Dinar was introduced in late 1999, whereby the German Mark became the only legal tender in 2001. With the introduction of the Euro the German Mark was replaced and the Euro became the official means of payment.

  16. Bitcoin: a Money-like Informational Commodity

    OpenAIRE

    Bergstra, Jan A.; Weijland, Peter

    2014-01-01

    The question "what is Bitcoin" allows for many answers depending on the objectives aimed at when providing such answers. The question addressed in this paper is to determine a top-level classification, or type, for Bitcoin. We will classify Bitcoin as a system of type money-like informational commodity (MLIC).

  17. Money Can't Buy Me Trust

    DEFF Research Database (Denmark)

    Christoffersen, Jeppe; Robson, Matthew J.

    2017-01-01

    In this study we investigate how external interventions shape process-based trust development in cross-border alliances. Specifically, we exploit a unique opportunity to observe the magnitude of external intervention through publicly available amounts of money given by the foreign, developed...

  18. Spending time and money within the household

    DEFF Research Database (Denmark)

    Browning, Martin; Gørtz, Mette

    We consider theoretically and empirically the allocation of time and money within the household. The novelty of our empirical work is that we have a survey which provides information on both time use and the allocation of some goods within the household, for the same households. We can consider...

  19. The Multidisciplinary Economics of Money Laundering

    NARCIS (Netherlands)

    Ferwerda, J.|info:eu-repo/dai/nl/314405526

    2012-01-01

    Money laundering has been studied for many years, but mainly by lawyers and criminologists. This dissertation presents a number of ways on how an economist – mainly in a multidisciplinary fashion – can contribute to this field of research. This dissertation answers four important questions about

  20. 31 CFR 103.29 - Purchases of bank checks and drafts, cashier's checks, money orders and traveler's checks.

    Science.gov (United States)

    2010-07-01

    ... Regulations Relating to Money and Finance FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN... orders and traveler's checks. (a) No financial institution may issue or sell a bank check or draft... inclusive: (1) If the purchaser has a deposit account with the financial institution: (i)(A) The name of the...

  1. Money priming can change people's thoughts, feelings, motivations, and behaviors: An update on 10 years of experiments.

    Science.gov (United States)

    Vohs, Kathleen D

    2015-08-01

    Caruso, Vohs, Baxter, and Waytz (2013) posited that because money is used in free market exchanges, cues of money would lead people to justify and support the systems that allow those exchanges to take place. Hence, the authors predicted that money primes would boost system justification, social dominance, belief in a just world, and free market ideology, and found supportive evidence. Rohrer, Pashler, and Harris (2015) failed to replicate those effects. This article discusses the factors that predict priming effects, and particularly those pertinent to differences between Caruso et al. and Rohrer et al. Variations in a prime's meaning, the ease with which primed content comes to mind, the prime's motivational importance, and the ambiguity of the outcome situation influence the impact of the prime. Money priming experiments (totaling 165 to date, from 18 countries) point to at least 2 major effects. First, compared to neutral primes, people reminded of money are less interpersonally attuned. They are not prosocial, caring, or warm. They eschew interdependence. Second, people reminded of money shift into professional, business, and work mentality. They exert effort on challenging tasks, demonstrate good performance, and feel efficacious. Money priming is not the same as priming another popular means of exchange, credit cards, and can have bigger effects when there is an implied connection between the self and having money. The practical benefits of money have been studied by other disciplines for decades, and the time is now for psychologists to study the effects of merely being reminded of money. (c) 2015 APA, all rights reserved).

  2. "Show me the money": vulnerability to gambling moderates the attractiveness of money versus suspense.

    Science.gov (United States)

    Hahn, Cheryl; Wilson, Timothy D; McRae, Kaichen; Gilbert, Daniel T

    2013-10-01

    Do people take risks to obtain rewards or experience suspense? We hypothesized that people vulnerable to gambling are motivated more by the allure of winning money whereas people less vulnerable to gambling are motivated more by the allure of suspense. Consistent with this hypothesis, participants with high scores on a subscale of the Gambling Attitudes and Beliefs Survey--a measure of vulnerability to gambling--reported more of a motivation to earn money (pilot study), were more likely to accept a certain or near-certain amount of money than to gamble for that same amount (Studies 1-2), and worked harder to earn money (Study 3). People vulnerable to gambling also made more accurate predictions about how much they would gamble. People less vulnerable to gambling, in contrast, gambled more than people vulnerable to gambling, but did not know that they would.

  3. Beyond the static money multiplier: in search of a dynamic theory of money

    OpenAIRE

    Berardi, Michele

    2007-01-01

    In this paper, we analyze the process of money creation in a credit economy. We start from the consideration that the traditional money multiplier is a poor description of this process and present an alternative and dynamic approach that takes into account the heterogeneity of agents in the economy and their interactions. We show that this heterogeneity can account for the instability of the multiplier and that it can make the system path-dependent. By using concepts and techniques borrowed f...

  4. Money circulation and debt circulation: A restatement of quantity theory of money

    OpenAIRE

    Xing, Xiaoyun; Xiong, Wanting; Chen, Liujun; Chen, Jiawei; Wang, Yougui; Stanley, H. Eugene

    2018-01-01

    Both money and debt are products of credit creation of banks. Money is always circulating among traders by facilitating commodity transactions. In contrast, debt is created by borrowing and annihilated by repayment as it is matured. However, when this creation- annihilation process is mediated by banks which are constrained by a credit capacity, there exists continuous transfer of debt among debtors, which can be defined as debt circulation. This paper presents a multi-agent model in which in...

  5. Generic Drugs: The Same Medicine for Less Money

    Science.gov (United States)

    ... same benefit to your health, and you will save money. 7KH IHGHUDO )RRG DQG 'UXJ $GPLQLVWUDWLRQ )'$ UHJXODWHV ERWK ... drug, like a 30% co-pay, you also save money. The full cost of a brand-name drug ...

  6. The Ontology of Money : Institutions, Power and Collective Intentionality

    NARCIS (Netherlands)

    G. Papadopoulos (Georgios)

    2015-01-01

    markdownabstract__Abstract__ The aim of this thesis is to revisit the elementary questions about the nature and the existence of money proposing a comprehensive alternative to the textbook analysis of money as a medium of exchange.

  7. The Basics of the Money Flow Management of Enterprise

    Directory of Open Access Journals (Sweden)

    Tanklevska Nataliya S.

    2017-06-01

    Full Text Available Essence of the definition of «money flow» of enterprise has been researched. The theoretical basis for the formation of money flows of enterprise, including the developments by mercantilists, marxists, monetarists, and contemporaries has been systematized. Cycles of the money flow and its relationship to the circulation of economic means have been characterized. The money flow discounting factors have been determined, which include inflation, risk, and alternativeness of investment process. The economic, political, social, and techno-economic risks that impact the management of money flows of enterprise have been allocated. The classification of money flows of enterprises by various attributes has been provided. The main sources of formation and modalities of the optimal money flow structure of enterprise have been determined. The advantages and disadvantages of using financial resources to generate money flows of enterprise have been characterized.

  8. Horizontalists, verticalists, and structuralists: The theory of endogenous money reassessed

    OpenAIRE

    Palley, Thomas I.

    2013-01-01

    This paper uses the occasion of the twenty-fifth anniversary of Basil Moore’s book, Horizontalists and Verticalists, to reassess the theory of endogenous money. The paper distinguishes between horizontalists, verticalists, and structuralists. It argues Moore’s horizontalist representation of endogenous money was an over-simplification that discarded important enduring insights from monetary theory. The structuralist approach to endogenous money retains the basic insight that the money supply ...

  9. Anti-Money Laundering Requirements – Perceived Effectiveness

    OpenAIRE

    C. C. Huang; M. S. Amirrudin; N. A. Ahamad Noruddin; R. Othman

    2013-01-01

    Anti-money laundering is commonly recognized as a set of procedures, laws or regulations designed to reduce the practice of generating income through illegal actions. In Malaysia, the government and law enforcement agencies have stepped up their capacities and efforts to curb money laundering since 2001. One of these measures was the enactment of the Anti-Money Laundering Act (AMLA) in 2001. The implementation costs on anti-money laundering requirements (AMLR) can be burd...

  10. 31 CFR 357.13 - Obligations of the United States and the Federal Reserve Banks with respect to Book-entry...

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Obligations of the United States and... 357.13 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL... BONDS, NOTES AND BILLS HELD IN LEGACY TREASURY DIRECT Treasury/Reserve Automated Debt Entry System...

  11. 42 CFR 438.704 - Amounts of civil money penalties.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 4 2010-10-01 2010-10-01 false Amounts of civil money penalties. 438.704 Section... SERVICES (CONTINUED) MEDICAL ASSISTANCE PROGRAMS MANAGED CARE Sanctions § 438.704 Amounts of civil money penalties. (a) General rule. The limit on, or the maximum civil money penalty the State may impose varies...

  12. 12 CFR 509.103 - Civil money penalties.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Civil money penalties. 509.103 Section 509.103... PROCEDURE IN ADJUDICATORY PROCEEDINGS Local Rules § 509.103 Civil money penalties. (a) Assessment. In the... may serve an order of assessment of civil money penalty upon the party concerned. The assessment order...

  13. 12 CFR 622.60 - Payment of civil money penalty.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Payment of civil money penalty. 622.60 Section... Rules and Procedures for Assessment and Collection of Civil Money Penalties § 622.60 Payment of civil money penalty. (a) Payment date. Generally, the date designated in the notice of assessment for payment...

  14. 12 CFR 908.6 - Civil money penalties.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Civil money penalties. 908.6 Section 908.6... Proceedings § 908.6 Civil money penalties. (a) Notice of assessment—(1) Grounds. The Finance Board may issue and serve a notice of assessment of a civil money penalty on any Bank or any executive officer or...

  15. 42 CFR 73.21 - Civil money penalties.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false Civil money penalties. 73.21 Section 73.21 Public... SELECT AGENTS AND TOXINS § 73.21 Civil money penalties. (a) The Inspector General of the Department of Health and Human Services is delegated authority to conduct investigations and to impose civil money...

  16. 48 CFR 1631.205-10 - Cost of money.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Cost of money. 1631.205-10... AND PROCEDURES Contracts With Commercial Organizations 1631.205-10 Cost of money. For the purposes of FAR 31.205-10(b)(3), the estimated facilities capital cost of money is specifically identified if it...

  17. 12 CFR 1250.3 - Civil money penalties.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Civil money penalties. 1250.3 Section 1250.3 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTERPRISES FLOOD INSURANCE § 1250.3 Civil money... to § 1250.2, the Director of FHFA, or his or her designee, may assess civil money penalties against...

  18. 42 CFR 460.46 - Civil money penalties.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 4 2010-10-01 2010-10-01 false Civil money penalties. 460.46 Section 460.46 Public...) Sanctions, Enforcement Actions, and Termination § 460.46 Civil money penalties. (a) CMS may impose civil money penalties up to the following maximum amounts: (1) For each violation regarding enrollment or...

  19. 42 CFR 493.1834 - Civil money penalty.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 5 2010-10-01 2010-10-01 false Civil money penalty. 493.1834 Section 493.1834... (CONTINUED) STANDARDS AND CERTIFICATION LABORATORY REQUIREMENTS Enforcement Procedures § 493.1834 Civil money... Secretary to impose civil money penalties on laboratories. Section 1846(b)(3) of the Act specifically...

  20. Bitcoin: Informational Money en het Einde van Gewoon Geld

    NARCIS (Netherlands)

    Bergstra, J.A.

    2014-01-01

    Deze paper bevat een verkorte beschrijving van de Nakamoto architectuur voor informational money, een positionering van Bitcoin, een "money-like informational commodity", als een verschijningsvorm van iGoud, en een bespiegeling over de vraag hoe hoe informational money het einde van Gewoon Geld in

  1. The role of social networks for combating money laundering

    NARCIS (Netherlands)

    Imanpour, M.

    2017-01-01

    Money laundering is the disguising of the illegal origin of money by bringing it back into the legal financial circuit. Therefore, in this dissertation I try to establish a theoretical framework to understand the role of social networks, and the link between criminals and legal actors in the money

  2. Gravity Models of Trade-based Money Laundering

    NARCIS (Netherlands)

    Ferwerda, J.; Kattenberg, M.A.C.; Chang, H.-S.; Unger, B.; Groot, L.F.M.; Bikker, J.A.

    2011-01-01

    Several attempts have been made in the economics literature to measure money laundering. However, the adequacy of these models is difficult to assess, as money laundering takes place secretly and, hence, goes unobserved. An exception is tradebased money laundering (TBML), a special form of trade

  3. Gravity Models of Trade-Based Money Laundering

    NARCIS (Netherlands)

    Ferwerda, Joras; Kattenberg, Marc; Chang, Han-Hsin; Unger, Brigitte; Groot, Loek; Bikker, Jaap

    Several attempts have been made in the economics literature to measure money laundering. However, the adequacy of these models is difficult to assess, as money laundering takes place secretly and, hence, goes unobserved. An exception is trade-based money laundering (TBML), a special form of trade

  4. Discounting of money and sex: effects of commodity and temporal position in stimulant-dependent men and women.

    Science.gov (United States)

    Jarmolowicz, David P; Landes, Reid D; Christensen, Darren R; Jones, Bryan A; Jackson, Lisa; Yi, Richard; Bickel, Warren K

    2014-11-01

    Research on delay discounting has contributed to the understanding of numerous addiction-related phenomena. For example, studies have shown that substance dependent individuals discount their addictive substances (e.g., cocaine) more rapidly than they do other commodities (e.g., money). Recent research has shown that substance dependent individuals discount delayed sex more rapidly than delayed money, and their discounting rates for delayed sex were higher than those of non-addicted individuals. The particular reason that delay discounting rates for sex are higher than those for money, however, are unclear. Do individuals discount delayed sex rapidly because immediate sex is particularly appealing or because delayed sex does not retain its value? Moreover, do the same factors influence men and women's choices? The current study examined delay discounting in four conditions (money now versus money later; sex now versus sex later; money now, versus sex later; sex now versus money later) in cocaine dependent men and women. The procedures used isolated the role of the immediate versus delayed commodity. For men, the higher rates of delay discounting for sex were because delayed sex did not retain its value, whereas both the immediate and delayed commodity influenced the female participants' decisions. Copyright © 2014 Elsevier Ltd. All rights reserved.

  5. Money matters: cash transfers for adaptation

    Energy Technology Data Exchange (ETDEWEB)

    Wood, Rachel Godfrey

    2011-04-15

    Developed countries have pledged billions of dollars a year to help poor nations adapt to climate change. But how should the money be spent? For the world's poor, who are both the most vulnerable to climate change and the most in need of social protection, the best answer may be cash transfer programmes. Giving money out in this way has a strong track record in reaching the poor and helping them improve their nutrition, education and incomes — all of which are vital for building their long-term capacity to adapt to climate change. Cash transfers are also well accepted at the local level and, given the right political backing, can be implemented on a broad scale.

  6. Risk Premia in the Czech Money Market

    Directory of Open Access Journals (Sweden)

    Martin Pohl

    2013-01-01

    Full Text Available We estimate risk premia in the Czech money market and we pay special attention to the 2008-2009 crisis period. Our results imply a rising forward premium and we argue that the error correction model is the most appropriate method, but median may be used as a first guess estimator. We estimated the term premium between the policy rate and various money market interest rates. In this context, ARCH models proved to be useful in reflection of non-stationarity observed in the data. The financial crisis caused a structural break in our data sample, but the impact on the forward premium was only brief and forward premia normalized quickly. The widening of the term premium proved to be much more persistent, although it declined significantly since the peak of the crisis.

  7. Experimental investigation of practical unforgeable quantum money

    Science.gov (United States)

    Bozzio, Mathieu; Orieux, Adeline; Trigo Vidarte, Luis; Zaquine, Isabelle; Kerenidis, Iordanis; Diamanti, Eleni

    2018-01-01

    Wiesner's unforgeable quantum money scheme is widely celebrated as the first quantum information application. Based on the no-cloning property of quantum mechanics, this scheme allows for the creation of credit cards used in authenticated transactions offering security guarantees impossible to achieve by classical means. However, despite its central role in quantum cryptography, its experimental implementation has remained elusive because of the lack of quantum memories and of practical verification techniques. Here, we experimentally implement a quantum money protocol relying on classical verification that rigorously satisfies the security condition for unforgeability. Our system exploits polarization encoding of weak coherent states of light and operates under conditions that ensure compatibility with state-of-the-art quantum memories. We derive working regimes for our system using a security analysis taking into account all practical imperfections. Our results constitute a major step towards a real-world realization of this milestone protocol.

  8. Statistical ensembles for money and debt

    Science.gov (United States)

    Viaggiu, Stefano; Lionetto, Andrea; Bargigli, Leonardo; Longo, Michele

    2012-10-01

    We build a statistical ensemble representation of two economic models describing respectively, in simplified terms, a payment system and a credit market. To this purpose we adopt the Boltzmann-Gibbs distribution where the role of the Hamiltonian is taken by the total money supply (i.e. including money created from debt) of a set of interacting economic agents. As a result, we can read the main thermodynamic quantities in terms of monetary ones. In particular, we define for the credit market model a work term which is related to the impact of monetary policy on credit creation. Furthermore, with our formalism we recover and extend some results concerning the temperature of an economic system, previously presented in the literature by considering only the monetary base as a conserved quantity. Finally, we study the statistical ensemble for the Pareto distribution.

  9. Euro Area: Single Currency - National Money Creation

    OpenAIRE

    Stefan Kooths; Björn van Roye

    2012-01-01

    The Eurosystem has been pursuing a crisis management policy for more than four years now. This policy aims primarily at maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in nationally segmented banking systems. As a side effect, the national central banks substitute money market operations for cross-border capital flows. The national central banks are thus increasingly engaging in substantial balance-of-payments financi...

  10. Statistical Mechanics of Money, Income, and Wealth

    Science.gov (United States)

    Yakovenko, Victor

    2006-03-01

    In Ref. [1], we proposed an analogy between the exponential Boltzmann-Gibbs distribution of energy in physics and the equilibrium probability distribution of money in a closed economic system. Analogously to energy, money is locally conserved in interactions between economic agents, so the thermal Boltzmann-Gibbs distribution function is expected for money. Since then, many researchers followed and expanded this idea [2]. Much work was done on the analysis of empirical data, mostly on income, for which a lot of tax and census data is available. We demonstrated [3] that income distribution in the USA has a well-defined two-class structure. The majority of population (97-99%) belongs to the lower class characterized by the exponential Boltzmann-Gibbs (``thermal'') distribution. The upper class (1-3% of population) has a Pareto power-law (``superthermal'') distribution, whose parameters change in time with the rise and fall of stock market. We proposed a concept of equilibrium inequality in a society, based on the principle of maximal entropy, and quantitatively demonstrated that it applies to the majority of population. Income distribution in other countries shows similar patterns. For more references, see http://www2.physics.umd.edu/˜yakovenk/econophysics.html. References: [1] A. A. Dragulescu and V. M. Yakovenko, ``Statistical mechanics of money'', Eur. Phys. J. B 17, 723 (2000). [2] ``Econophysics of Wealth Distributions'', edited by A. Chatterjee, S. Yarlagadda, and B. K. Chakrabarti, Springer, 2005. [3] A. C. Silva and V. M. Yakovenko, ``Temporal evolution of the `thermal' and `superthermal' income classes in the USA during 1983-2001'', Europhys. Lett. 69, 304 (2005).

  11. The House Money Effect and Negative Reciprocity

    OpenAIRE

    Katarína Danková; Maroš Servátka

    2014-01-01

    In the vast majority of laboratory experiments documenting the existence of reciprocity subjects are endowed with windfall funds. In many environments with salient fairness considerations such endowments are known to inflate subjects’ other-regarding behavior, thereby creating a so-called “house money effect.” This suggests that laboratory experiments might also overestimate reciprocal behavior. In this study we identify two reasons why the source of endowment might matter for negative recipr...

  12. Kemungkinan Money Laundering Dalam Pemilihan Kepala Daerah

    OpenAIRE

    amrullah, arief

    2005-01-01

    One of the prominent activities oforganized crime is to obtain profit that is obtained from Ulicit trafficking indnjgs, convption (foiinstance), orother proceds thatderived or obtained, directly or inderectly, through the commission ofan offence are entered into global financial system, so as if they become the proceed of the crime obtained from legal bussiness.Therefore, the effort to fight against money laundering is a dynamic process, and the organized criminals always seek thenewmethod to...

  13. What theory? The theory in mad money

    OpenAIRE

    Strange, Susan

    1998-01-01

    Mad Money (Manchester University Press, 1998) is the completely rewritten and updated version of Casino Capitalism (Blackwells, 1986). It has been suggested--of both volumes--that there was no theory underlying Strange's discussion of the international financial system in them. This, she argues in this Working Paper, is emphatically not the case. Both volumes always implicitly, and often explicitly, are underpinned by the dominant themes that are reflected in Strange's work since the publicat...

  14. Experimental quantum forgery of quantum optical money

    Czech Academy of Sciences Publication Activity Database

    Bartkiewicz, K.; Černoch, Antonín; Chimczak, G.; Lemr, K.; Miranowicz, A.; Nori, F.

    2017-01-01

    Roč. 3, Mar (2017), s. 1-8, č. článku 7. ISSN 2056-6387 R&D Projects: GA ČR GAP205/12/0382 Institutional support: RVO:68378271 Keywords : experimental quantum forgery * quantum optical money Subject RIV: BH - Optics, Masers, Lasers OBOR OECD: Optics (including laser optics and quantum optics) Impact factor: 9.111, year: 2016

  15. Statistical mechanics of a time-homogeneous system of money and antimoney

    Science.gov (United States)

    Schmitt, Matthias; Schacker, Andreas; Braun, Dieter

    2014-03-01

    Financial crises appear throughout human history. While there are many schools of thought on what the actual causes of such crises are, it has been suggested that the creation of credit money might be a source of financial instability. We discuss how the credit mechanism in a system of fractional reserve banking leads to non-local transfers of purchasing power that also affect non-involved agents. To overcome this issue, we impose the local symmetry of time homogeneity on the monetary system. A bi-currency system of non-bank assets (money) and bank assets (antimoney) is considered. A payment is either made by passing on money or by receiving antimoney. As a result, a free floating exchange rate between non-bank assets and bank assets is established. Credit creation is replaced by the simultaneous transfer of money and antimoney at a negotiated exchange rate. This is in contrast to traditional discussions of full reserve banking, which stalls creditary lending. With money and antimoney, the problem of credit crunches is mitigated while a full time symmetry of the monetary system is maintained. As a test environment for such a monetary system, we discuss an economy of random transfers. Random transfers are a strong criterion to probe the stability of monetary systems. The analysis using statistical physics provides analytical solutions and confirms that a money-antimoney system could be functional. Equally important to the probing of the stability of such a monetary system is the question of how to implement the credit default dynamics. This issue remains open.

  16. Economic and Legal Aspects of Electronic Money

    Directory of Open Access Journals (Sweden)

    Otakar Schlossberger

    2016-06-01

    Full Text Available The term “electronic money” first appeared in Czech legislation in 2002 as the result of the transposition of legislation into the Czech Republic’s legal system in anticipation of the country’s accession to the European Union. This term subsequently reappeared in 2009 during the recodification of the legal regulation of payment services, payment systems and electronic money. At this time, the definition was subjected to certain changes which continue to exert a significant influence on current practice with respect to the issuance and subsequent use of electronic money. This paper addresses the term “virtual money” and considers the mutual relationships between “electronic money”, “cashless money” and “virtual money” from the point of view of selected legal and economic approaches. The aim of the paper is to employ the analytical method in order to investigate selected legal and economic aspects of the various interpretations of the categories “electronic money”, “cashless money” and “virtual money”. A comparative analysis approach will be applied so as to ascertain both the legal and economic differences between these categories and general conclusions will be suggested employing the deduction method. The article is further concerned with the influence of these categories on the monetary base and money supply indicators.

  17. 31 CFR 100.2 - Scope of regulations; transactions effected through Federal Reserve banks and branches...

    Science.gov (United States)

    2010-07-01

    ... branches; distribution of coin and currencies. The regulations in this part govern the exchange of the coin... effected through Federal Reserve banks and branches; distribution of coin and currencies. 100.2 Section 100.2 Money and Finance: Treasury Regulations Relating to Money and Finance EXCHANGE OF PAPER CURRENCY...

  18. Some Clarity on Banks as Financial Intermediaries and Money 'Creators'

    OpenAIRE

    Robert W Vivian and Nicholas Spearman

    2015-01-01

    Although the phrase ‘banks create money’ forms part of popular discourse, it has precipitated a factually incorrect understanding of a bank’s role in the money creation process. Bank money creation is the result of an underlying value-for-value exchange transaction; the bank facilitates the transaction, takes over responsibility for obligations created and records the money created—the bank is not the source of money creation. This has long been understood, even if it is not immediate...

  19. 31 CFR 538.319 - U.S. registered money transmitter.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false U.S. registered money transmitter. 538.319 Section 538.319 Money and Finance: Treasury Regulations Relating to Money and Finance... General Definitions § 538.319 U.S. registered money transmitter. The term U.S. registered money...

  20. 31 CFR 537.323 - U.S. registered money transmitter.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false U.S. registered money transmitter. 537.323 Section 537.323 Money and Finance: Treasury Regulations Relating to Money and Finance... General Definitions § 537.323 U.S. registered money transmitter. The term U.S. registered money...

  1. 31 CFR 103.135 - Anti-money laundering programs for operators of credit card systems.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering programs for...-Money Laundering Programs Anti-Money Laundering Programs § 103.135 Anti-money laundering programs for.... Virgin Islands. (b) Anti-money laundering program requirement. Effective July 24, 2002, each operator of...

  2. 31 CFR 103.170 - Exempted anti-money laundering programs for certain financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Exempted anti-money laundering... TRANSACTIONS Anti-Money Laundering Programs Anti-Money Laundering Programs § 103.170 Exempted anti-money... establishment of anti-money laundering programs: (1) An agency of the United States Government, or of a State or...

  3. Saving Money and Time with Virtual Server

    CERN Document Server

    Sanders, Chris

    2006-01-01

    Microsoft Virtual Server 2005 consistently proves to be worth its weight in gold, with new implementations thought up every day. With this product now a free download from Microsoft, scores of new users are able to experience what the power of virtualization can do for their networks. This guide is aimed at network administrators who are interested in ways that Virtual Server 2005 can be implemented in their organizations in order to save money and increase network productivity. It contains information on setting up a virtual network, virtual consolidation, virtual security, virtual honeypo

  4. Experimental preparation and verification of quantum money

    Science.gov (United States)

    Guan, Jian-Yu; Arrazola, Juan Miguel; Amiri, Ryan; Zhang, Weijun; Li, Hao; You, Lixing; Wang, Zhen; Zhang, Qiang; Pan, Jian-Wei

    2018-03-01

    A quantum money scheme enables a trusted bank to provide untrusted users with verifiable quantum banknotes that cannot be forged. In this work, we report a proof-of-principle experimental demonstration of the preparation and verification of unforgeable quantum banknotes. We employ a security analysis that takes experimental imperfections fully into account. We measure a total of 3.6 ×106 states in one verification round, limiting the forging probability to 10-7 based on the security analysis. Our results demonstrate the feasibility of preparing and verifying quantum banknotes using currently available experimental techniques.

  5. What theory? The theory in "Mad Money"

    OpenAIRE

    Strange, Susan

    2012-01-01

    Mad Money (Manchester University Press, 1998) es la versión completamente reescrita y actualizada de Casino Capitalism (Blackwells, 1986). Se ha sugerido —de ambos volúmenes— que no había en ellos una teoría subyacente en la discusión de Strange sobre el sistema financiero internacional. Esto, argumenta Strange en este working paper, no es en absoluto el caso. Los dos volúmenes se sustentan, siempre implícitamente y a veces explícitamente, en los temas dominantes del trabajo de Strange desde ...

  6. Stratiform chromite deposit model

    Science.gov (United States)

    Schulte, Ruth F.; Taylor, Ryan D.; Piatak, Nadine M.; Seal, Robert R.

    2010-01-01

    Stratiform chromite deposits are of great economic importance, yet their origin and evolution remain highly debated. Layered igneous intrusions such as the Bushveld, Great Dyke, Kemi, and Stillwater Complexes, provide opportunities for studying magmatic differentiation processes and assimilation within the crust, as well as related ore-deposit formation. Chromite-rich seams within layered intrusions host the majority of the world's chromium reserves and may contain significant platinum-group-element (PGE) mineralization. This model of stratiform chromite deposits is part of an effort by the U.S. Geological Survey's Mineral Resources Program to update existing models and develop new descriptive mineral deposit models to supplement previously published models for use in mineral-resource and mineral-environmental assessments. The model focuses on features that may be common to all stratiform chromite deposits as a way to gain insight into the processes that gave rise to their emplacement and to the significant economic resources contained in them.

  7. On the Empire of Money: The Representation of Money in Arab ...

    African Journals Online (AJOL)

    money) and its role in human-lives have largely been seen to be the exclusive preserve of social science scholars. This has consequently led to the elision of other perspectives, particularly the cultural, on the category. This paper therefore attempts ...

  8. Quantum money with nearly optimal error tolerance

    Science.gov (United States)

    Amiri, Ryan; Arrazola, Juan Miguel

    2017-06-01

    We present a family of quantum money schemes with classical verification which display a number of benefits over previous proposals. Our schemes are based on hidden matching quantum retrieval games and they tolerate noise up to 23 % , which we conjecture reaches 25 % asymptotically as the dimension of the underlying hidden matching states is increased. Furthermore, we prove that 25 % is the maximum tolerable noise for a wide class of quantum money schemes with classical verification, meaning our schemes are almost optimally noise tolerant. We use methods in semidefinite programming to prove security in a substantially different manner to previous proposals, leading to two main advantages: first, coin verification involves only a constant number of states (with respect to coin size), thereby allowing for smaller coins; second, the reusability of coins within our scheme grows linearly with the size of the coin, which is known to be optimal. Last, we suggest methods by which the coins in our protocol could be implemented using weak coherent states and verified using existing experimental techniques, even in the presence of detector inefficiencies.

  9. Movies with smoking make less money.

    Science.gov (United States)

    Glantz, Stanton A; Polansky, Jonathan R

    2012-11-01

    To determine the relationship between presence of smoking in films and total box office receipts. Regression analysis of box office receipts as a function of film rating, production budget, year of release and presence of smoking for 1232 films released in the USA between 2002 and 2010. R-rated films made, on average, 87% (95% CI 83% to 90%) of what PG-13 films of similar smoking status made and smoking films made 87% (95% CI 79% to 96%) of what comparably rated smoke-free films made. Larger budget films made more money. There was no significant effect of release year or G/PG rating compared with PG-13-rated movies. Because PG-13 films without smoking (median $48.6 million) already make 41% more money at the box office than R-rated movies with smoking (median $34.4 million), implementing an R rating for smoking to remove it from youth-rated films will not conflict with the economic self-interest of producer-distributors.

  10. Anti-Money Laundering Regulations And The Effective Use Of Mobile Money In South Africa – Part 2

    Directory of Open Access Journals (Sweden)

    Marike Kersop

    2015-12-01

    Full Text Available Mobile financial services, specifically mobile money, has the potential to expand access to financial services to millions of unbanked people in South Africa. As such, it looks very promising in terms of financial inclusion. However, concerns exist that mobile money can be detrimental to financial integrity since there are several proven risk factors linked to mobile financial services. These risk factors make mobile money very susceptible to money laundering. The potential for abuse and the need for appropriate controls is therefore something which cannot be ignored. While the South African legislator has made provision for comprehensive anti-money laundering preventative measures by means of the Financial Intelligence Centre Act 38 of 2001, there exists no South African legislation explicitly concerned with mobile money. It is therefore difficult to determine what the regulatory stance is in terms of mobile money in South Africa. The Financial Action Task Force (FATF is, however, currently focusing attention on the effect which mobile money may have on financial integrity. The latest FATF Recommendations make provision for several anti-money laundering controls which are specifically applicable to mobile money, including controls regarding money or value transfer services and new technologies. While it is always difficult to balance financial integrity and financial inclusion, the risk-based approach makes it possible for governments to implement effective anti-money laundering measures, thereby preserving financial integrity, without the need to compromise on financial inclusion objectives. The fact that South Africa has not fully adopted a risk-based approach is a problem which needs to be addressed if mobile money is to deliver on its promises for financial inclusion, without being detrimental to financial integrity

  11. Methods of Analysis of Electronic Money in Banks

    Directory of Open Access Journals (Sweden)

    Melnychenko Oleksandr V.

    2014-03-01

    Full Text Available The article identifies methods of analysis of electronic money, formalises its instruments and offers an integral indicator, which should be calculated by issuing banks and those banks, which carry out operations with electronic money, issued by other banks. Calculation of the integral indicator would allow complex assessment of activity of the studied bank with electronic money and would allow comparison of parameters of different banks by the aggregate of indicators for the study of the electronic money market, its level of development, etc. The article presents methods which envisage economic analysis of electronic money in banks by the following directions: solvency and liquidity, efficiency of electronic money issue, business activity of the bank and social responsibility. Moreover, the proposed indicators by each of the directions are offered to be taken into account when building integral indicators, with the help of which banks are studied: business activity, profitability, solvency, liquidity and so on.

  12. MONEY LAUNDERING: RING AROUND THE WHITE COLLAR

    Directory of Open Access Journals (Sweden)

    Jacob RUB

    2015-11-01

    Full Text Available In mine study I will deal with money laundering as a leading factor in white-collar criminality. The purpose of the present study and the guiding line in this article is to legislative upgrade of white-collar criminality fighting that might be of great importance as we intend to plan the policy of reduction of money Laundering criminality in Israel and Moldova. In order to deal with mine research subject I will express the lookout which I have conducted over a period three years and have included public sector tenders, with the CFE (Collection for the Environment Recycling Corporation in Israel. It has been found white-collar criminals are usually conventional people who deal with rises or opportunity that leads them to transgress the border temporarily and perpetrate a crime, and it is likely that they would be affected strongly by the punishment process. Therefore the outcome of the study is to produce the necessary steps to reduce the phenomenon of money Laundering crime in Israel and the Republic of Moldova. In order to obtain this purposes and the author has performed some new steps to upgrade and supplement the Law with subjects as: Punishment Origin offences Entities obligated to report, Expanding of the duties of Money Laundering Prohibition Authority as a regulator and with authority to assign fines, etc. Those practical frameworks are necessary steps to reduce the phenomenon of Money Laundering in Israel and the Republic of Moldova by constitutional - legal standpoints.SPĂLAREA BANILOR CA INFRACŢIUNE A GULERELOR ALBEÎn studiul efectuat se demonstrează că spălarea de bani constituie factorul principal al criminalităţii gulerelor albe. Scopul propus în acest articol este de a realiza o analiză complexă a propunerilor legislative îndreptate spre lupta cu cri-minalitatea gulerelor albe şi de a propune noi politici menite să reducă criminalitatea gulerelor albe atât în Republica Moldova, cât şi în Israel. Întru a

  13. Statistical mechanics of a time-homogeneous system of money and antimoney

    International Nuclear Information System (INIS)

    Schmitt, Matthias; Schacker, Andreas; Braun, Dieter

    2014-01-01

    Financial crises appear throughout human history. While there are many schools of thought on what the actual causes of such crises are, it has been suggested that the creation of credit money might be a source of financial instability. We discuss how the credit mechanism in a system of fractional reserve banking leads to non-local transfers of purchasing power that also affect non-involved agents. To overcome this issue, we impose the local symmetry of time homogeneity on the monetary system. A bi-currency system of non-bank assets (money) and bank assets (antimoney) is considered. A payment is either made by passing on money or by receiving antimoney. As a result, a free floating exchange rate between non-bank assets and bank assets is established. Credit creation is replaced by the simultaneous transfer of money and antimoney at a negotiated exchange rate. This is in contrast to traditional discussions of full reserve banking, which stalls creditary lending. With money and antimoney, the problem of credit crunches is mitigated while a full time symmetry of the monetary system is maintained. As a test environment for such a monetary system, we discuss an economy of random transfers. Random transfers are a strong criterion to probe the stability of monetary systems. The analysis using statistical physics provides analytical solutions and confirms that a money–antimoney system could be functional. Equally important to the probing of the stability of such a monetary system is the question of how to implement the credit default dynamics. This issue remains open

  14. Money laundering - form in expansion of economic and financial infractionality

    OpenAIRE

    Nanes, Ovidiu

    2009-01-01

    The term money laundering comes from the alcohol prohibition in the U.S. when, in the 1920s, acquaintances groups Mafia leaders in Chicago, in particular, have opened public laundries, and to hide and blend funds with money from legitimate trade alcohol and other criminal activities. Although the term money laundering occurred in the twentieth century, the phenomenon has existed many centuries before: in some antique dealers hiding their wealth from more or less honest, investing them in othe...

  15. Post Keynesian Endogeneity of Money Supply: Panel Evidence

    OpenAIRE

    Nayan, Sabri; Ahmad, Mahyudin; Kadir, Norsiah; Abdullah, Mat Saad

    2013-01-01

    Post Keynesian economics is actually macroeconomics in a world of uncertainty and endogenous money. Post Keynesians posit that money supply in a market oriented production economy is endogenous or endogenously determined (rather than exogenous as claimed by Monetarists). Money supply is said to be endogenous if it is determined within the economic system itself. The present paper investigates this theory using a panel dataset of 177 countries from year 1970-2011 utilising dynamic ...

  16. Estimating Money Demand Function in Cambodia: ARDL Approach

    OpenAIRE

    Samreth, Sovannroeun

    2008-01-01

    This paper empirically estimates the money demand function in Cambodia. We adopt the money demand model that includes exchange rate. For the analysis, Autoregressive Distributed Lag (ARDL) approach to cointegration is employed. Our results indicate that there is cointegration among variables in money demand function. CUSUM and CUSUMSQ tests roughly support the stability of estimated model. However, in the long-run, even the sign of estimated coefficient of exchange rate support the currency s...

  17. EXOGENOUS OR ENDOGENOUS MONEY SUPPLY: EVIDENCE FROM AUSTRALIA

    OpenAIRE

    ZATUL E. BADARUDIN; AHMED M. KHALID; MOHAMED ARIFF

    2012-01-01

    This paper investigates the nature of money supply in Australia over two separate monetary policy regimes: monetary and inflation targeting. The post-Keynesian theory on endogenous money was tested with the aim of investigating whether endogenous money supply, if it did exist, followed the accomodationist, structuralist or liquidity preference viewpoints. Data used are quarterly series from 1977 to 2007 and we used vector error-correction model for long-run and short-run causality tests. We f...

  18. The shackling of free money: lessons from Parguez and Argentina

    OpenAIRE

    Wesley C. Marshall

    2014-01-01

    During the ongoing financial crisis in the North Atlantic, the central role that money plays in monetary production economies is undergoing fundamental changes. Specifically, traditional money-creating institutions, both public and private, increasingly eschew the fulfillment of aggregate demand for money. The implications of this development are wide-reaching, both in terms of academic debate and the quickly evolving international monetary system. Based on Alain Parguez's insights and the mo...

  19. Tsunami deposits

    International Nuclear Information System (INIS)

    2013-01-01

    The NSC (the Nuclear Safety Commission of Japan) demand to survey on tsunami deposits by use of various technical methods (Dec. 2011), because tsunami deposits have useful information on tsunami activity, tsunami source etc. However, there are no guidelines on tsunami deposit survey in JAPAN. In order to prepare the guideline of tsunami deposits survey and evaluation and to develop the method of tsunami source estimation on the basis of tsunami deposits, JNES carried out the following issues; (1) organizing information of paleoseismological record and tsunami deposit by literature research, (2) field survey on tsunami deposit, and (3) designing the analysis code of sediment transport due to tsunami. As to (1), we organize the information gained about tsunami deposits in the database. As to (2), we consolidate methods for surveying and identifying tsunami deposits in the lake based on results of the field survey in Fukui Pref., carried out by JNES. In addition, as to (3), we design the experimental instrument for hydraulic experiment on sediment transport and sedimentation due to tsunamis. These results are reflected in the guideline on the tsunami deposits survey and evaluation. (author)

  20. Energy Savers Tips on Saving Energy& Money at Home

    Energy Technology Data Exchange (ETDEWEB)

    2003-06-01

    Provides consumers with home energy and money savings tips such as insulation, weatherization, heating, cooling, water heating, energy efficient windows, landscaping, lighting, and energy efficient appliances

  1. Survey Forecasts and Money Demand Functions: Some International Evidence

    DEFF Research Database (Denmark)

    Stadtmann, Georg; Pierdzioch, Christian; Rülke, Jan

    2011-01-01

    We derive a money demand function from a dynamic macroeconomic general equilibrium model to analyze the correlations between professional economists’ forecasts of the growth rate of money supply, the inflation rate, the growth rate of real output, and the nominal interest rate. Upon estimating...... the money demand function on survey data of professional economists’ forecasts for fourteen Asian-Pacific and Central and South-Eastern European countries, we find that the correlations between professional economists’ forecasts are broadly consistent with the money demand function implied...

  2. Money and exchange in an economy with spatially differentiated agents

    Science.gov (United States)

    Manolova, Petia; Lai Tong, Charles; Deissenberg, Christophe

    2003-06-01

    The impact of money supply on the real variables and on utility is an important question in monetary economics. Most previous works study this impact in representative agent economies, often under perfect foresight. With such a framework, however, the use of fiat money as a medium of exchange cannot be endogenously explained. This paper, by contrast, considers an economy where fiat money is intrinsically necessary for exchange, due to the local structure of interaction among agents. It investigates the transitory and permanent impact of local or global injections of money on the dynamics of exchanged quantities, prices, and individual welfares, and the mechanisms that explain this evolution.

  3. NEW TRENDS AND PERSPECTIVES IN THE MONEY LAUNDERING PROCESS

    Directory of Open Access Journals (Sweden)

    ANA ALINA DUMITRACHE

    2011-04-01

    Full Text Available Due to its complexity, the crime of money laundering can be committed through a variety of methods which are in a constantly evolving. It seems that money launderers are always one step ahead of authorities. They find new and various ways to launder the proceeds of crime despite the efforts of the law enforcement authorities to develop the best tools to stop or at least to make difficult the criminal activity of money laundering. This study aims to analyze the latest money laundering typologies approaching online payment systems, virtual casinos, electronic auctions and Internet gambling.

  4. Estimation of the house money effect using hurdle models

    OpenAIRE

    Engel, Christoph; Moffat, Peter G.

    2012-01-01

    Evidence from an experiment investigating the “house money effect” in the context of a public goods game is reconsidered. Analysis is performed within the framework of the panel hurdle model, in which subjects are assumed to be one of two types: free-riders, and potential contributors. The effect of house money is seen to be significant in the first hurdle: specifically, house money makes a subject more likely to be a potential contributor. Hence we find that the effect of house money is more...

  5. Energy Savers: Tips on Saving Money & Energy at Home

    Energy Technology Data Exchange (ETDEWEB)

    None

    2011-12-01

    Provides consumers with home energy and money savings tips such as insulation, weatherization, heating, cooling, water heating, energy efficient windows, landscaping, lighting, and energy efficient appliances.

  6. Energy Saver: Tips on Saving Money & Energy at Home

    Energy Technology Data Exchange (ETDEWEB)

    None

    2017-09-01

    Provides consumers with home energy and money savings tips such as insulation, weatherization, heating, cooling, water heating, energy efficient windows, landscaping, lighting, and energy efficient appliances.

  7. NEW TRENDS AND PERSPECTIVES IN THE MONEY LAUNDERING PROCESS

    OpenAIRE

    ANA ALINA DUMITRACHE; GEORGETA MODIGA

    2011-01-01

    Due to its complexity, the crime of money laundering can be committed through a variety of methods which are in a constantly evolving. It seems that money launderers are always one step ahead of authorities. They find new and various ways to launder the proceeds of crime despite the efforts of the law enforcement authorities to develop the best tools to stop or at least to make difficult the criminal activity of money laundering. This study aims to analyze the latest money laundering typologi...

  8. Energy Savers: Tips on Saving Money & Energy at Home

    Energy Technology Data Exchange (ETDEWEB)

    None

    2014-05-01

    Provides consumers with home energy and money savings tips such as insulation, weatherization, heating, cooling, water heating, energy efficient windows, landscaping, lighting, and energy efficient appliances.

  9. Uranium reserves and exploration activity

    International Nuclear Information System (INIS)

    Meehan, R.J.

    1975-01-01

    The strategy that ERDA plans to employ regarding resource appraisal is outlined. All types of uranium occurrences will be evaluated as sources of domestic ore reserves. Industry's exploration efforts will be compiled. These data will include information on land acquisition and costs, footage drilled and costs, estimates of exploration activities and expenditures, exploration for non-sandstone deposits, exploration in non-established areas, and foreign exploration plans and costs. Typical data in each of these areas are given

  10. How does money memorize social interactions? Understanding time-homogeneity in monetary systems

    Science.gov (United States)

    Braun, Dieter; Schmitt, Matthias; Schacker, Andreas

    2013-03-01

    Understanding how money shapes and memorizes our social interactions is central to modern life. There are many schools of thought on as to how monetary systems contribute to crises or boom/bust cycles and how monetary policy can try to avert them. We find that statistical physics gives a refreshing perspective. We analyze how credit mechanisms introduce non-locality and time-heterogeneity to the monetary memory. Motivated by an analogy to particle physics, locality and time-homogeneity can be imposed to monetary systems. As a result, a full reserve banking system is complemented with a bi-currency system of non-bank assets (``money'') and bank assets (``antimoney''). Payment can either be made by passing on money or by receiving antimoney. As a result, a free floating exchange rate between non-bank assets and bank assets is established. Interestingly, this monetary memory allows for credit creation by the simultaneous transfer of money and antimoney at a negotiated exchange rate. We analyze this novel mechanism of liquidity transfer in a model of random social interactions, yielding analytical results for all relevant distributions and the price of liquidity under the conditions of a fully transparent credit market.

  11. Combining Benford's Law and machine learning to detect money laundering. An actual Spanish court case.

    Science.gov (United States)

    Badal-Valero, Elena; Alvarez-Jareño, José A; Pavía, Jose M

    2018-01-01

    This paper is based on the analysis of the database of operations from a macro-case on money laundering orchestrated between a core company and a group of its suppliers, 26 of which had already been identified by the police as fraudulent companies. In the face of a well-founded suspicion that more companies have perpetrated criminal acts and in order to make better use of what are very limited police resources, we aim to construct a tool to detect money laundering criminals. We combine Benford's Law and machine learning algorithms (logistic regression, decision trees, neural networks, and random forests) to find patterns of money laundering criminals in the context of a real Spanish court case. After mapping each supplier's set of accounting data into a 21-dimensional space using Benford's Law and applying machine learning algorithms, additional companies that could merit further scrutiny are flagged up. A new tool to detect money laundering criminals is proposed in this paper. The tool is tested in the context of a real case. Copyright © 2017 Elsevier B.V. All rights reserved.

  12. The theory of endogenous money and the LM schedule: prelude to a reconstruction of ISLM

    OpenAIRE

    PALLEY, THOMAS I.

    2017-01-01

    ABSTRACT Money is at the center of macroeconomics, which makes understanding the money supply central for macroeconomic theory. This paper presents the Post Keynesian theory of endogenous money supply and shows how it is fundamentally different from the conventional money supply theory. The conventional approach relies on the money multiplier and bank lending is invisible. Post Keynesian theory discards the money multiplier and focuses on bank lending which drives money creation. The paper em...

  13. Not a good buy: value for money of prescription drugs sold on the internet.

    Science.gov (United States)

    Levaggi, Rosella; Marcantoni, Claudio; Filippucci, Laura; Gelatti, Umberto

    2012-08-01

    In this note we study the value for money of purchases of fluoxetine made through on-line pharmacies without prescription. We show that this channel is not good value from an economic point of view and that it can be dangerous in medical terms because of the poor quality of the drugs received and the lack of prescribing instructions. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

  14. The principle of complementarity in the design of reserve networks ...

    Indian Academy of Sciences (India)

    Unknown

    Ratcliffe envisioned a three-stage selection process: (i) field surveys, (ii) the application of explicitly agreed ..... equal. This leads to the creation of larger reserves. The. MNP algorithm has been the basis for many of the ...... It is a matter of judgement whether money is better spent on acquiring data or on land purchase based.

  15. Uranium deposits through time

    International Nuclear Information System (INIS)

    Derry, D.R.

    1980-01-01

    The distribution of different types of uranium deposits through geological time has been noted by various authors, especially as affecting deposits formed in the Precambrian era. While this is significant, it may have been oversimplified by grouping deposits within geological time limits that are very extensive when compared with Phanerozoic groupings. As more detailed information becomes available, we find that some of the higher-grade deposits have complicated histories involving several stages of concentration separated by long periods of time. A comparison of the proportion of uranium production and reserves contributed by individual classes (and geological ages) of deposits shows a changing trend in favour of the unconformity class. Possibly more attention should be paid to metallographic uranium areas and their localizations. Some areas, e.g. Gabon, West Africa and Baker Lake, N.W.T., have more than one type of uranium deposit. A further consideration is that much of the known uranium reserves in the non-Communist world lies within a dozen areas, each ranging between 3000 and 130 000 km 2 . It is possible that such uranium metallographic areas were localized by very ancient fracture systems, now not easily recognized, in the original Earth's crust

  16. Is Money Really Exogenous? Testing for Weak Exogeneity in Swiss Money Demand.

    OpenAIRE

    Fischer, Andreas M

    1993-01-01

    Although exogeneity is often associated with controllable policy variables, Engle, Hendry, and Richard (1983) show that the one condition is neither necessary nor sufficient for the other. Whether variables such as monetary aggregates are (weakly) exogenous depends on the conditioning properties of the data generating process. Testing exogeneity claims represents an important step in analyzing money demand functions. Although Switzerland adheres to fairly strict monetarist prescriptions, we r...

  17. Correcting the Money Myth: Re-Thinking School Resources

    Science.gov (United States)

    Grubb, W. Norton

    2010-01-01

    The Money Myth is the contention that any education problem requires increased spending and, conversely, that reform is impossible without more funding. However, increased funding works for only certain kinds of school resources. Many reforms require resources that money cannot buy. What is needed are reforms that build the capacity of schools to…

  18. Money Is Essential: Ownership Intuitions Are Linked to Physical Currency

    Science.gov (United States)

    Uhlmann, Eric Luis; Zhu, Luke

    2013-01-01

    Due to basic processes of psychological essentialism and contagion, one particular token of monetary currency is not always interchangeable with another piece of currency of equal economic value. When money loses its physical form it is perceived as "not quite the same" money (i.e., to have partly lost the original essence that distinguished it…

  19. Early Years Education and the Value for Money Folklore

    Science.gov (United States)

    Campbell-Barr, Verity

    2012-01-01

    This article is intended as a contribution to the debate on the role of human capital in determining value for money in early years education. The article explores how the idea that early years education offers value for money has become folklore amongst policymakers and more widely. However, drawing on both interview data and existing literature…

  20. Optimal signaling with cheap talk and money burning

    NARCIS (Netherlands)

    V.A. Karamychev (Vladimir); B. Visser (Bauke)

    2017-01-01

    textabstractWe study Sender-optimal signaling equilibria with cheap talk and money-burning. Under general assumptions, the Sender never uses money-burning to reveal all states, but always wants to garble information for at least some states. With quadratic preferences and any log-concave density of

  1. Money Supply, Interest Rate, and Economic Growth in Cameroon: A ...

    African Journals Online (AJOL)

    2008-12-11

    Dec 11, 2008 ... ABSTRACT. The shortfalls of trade by barter have projected beyond imagination the role of money in any modern economic system. However, different predictions of monetary theories have assigned different degrees of the impacts of money and interest rate on economic growth and development. Thus ...

  2. On the interdependence of money supply and demand

    OpenAIRE

    Cavalieri, Duccio

    2013-01-01

    This is a short essay on the present state of a controversial problem: that of the relationship between the supply and the demand for money. Exogeneous or endogenous money supply? The different positions taken in the literature on the subject are examined and discussed. The author's confidence in their interdependence is then expressed and motivated.

  3. The Dual Role of Money and Optimal Financial Taxes

    NARCIS (Netherlands)

    Huizinga, H.P.

    1996-01-01

    This paper reconsiders the optimal taxation of money and other financial assets.The optimal tax formulae reflect that money provides liquidity services and is a saving vehicle.In fact, it is useful to reformulate the optimal tax problem to allow for separate taxes on the liquidity and saving

  4. Money supply mechanisms in Nigeria | Ogun | African Journal of ...

    African Journals Online (AJOL)

    This study investigates the process of money supply mechanism in Nigeria in order to provide an explanation for the inflationary acceleration in money supply that occurred in the period 1970 to 1989. The initial double-digit inflation was found to have originated from the rapid growth in the external sector as a result of the oil ...

  5. Gender, Academic Major and the Love of Money by University ...

    African Journals Online (AJOL)

    ... the love of money of university students on the basis of gender and the academic major (business and non-business). Data was collected through the use of self-administered questionnaire in a survey. The love of money questionnaire developed by Tang and Chiu was adapted for the study. Descriptive statistics and the ...

  6. money lending law and regulation of consumer credit in nigeria

    African Journals Online (AJOL)

    Mofasony

    otherwise of the Moneylenders Laws of Nigeria as consumer credit laws, and opines that not ... attraction of money lending; a very significant consumer credit facility. Money lending is not the only consumer credit facility available. Consumer goods can also be acquired .... The natural reaction was to seek to regulate usury.

  7. La struttura dei mercati monetari. (The structure of money markets

    Directory of Open Access Journals (Sweden)

    J.S.G. WILSON

    2014-07-01

    Full Text Available The article surveys the main characteristics of money markets. It defines a money market as a center in which financial institutions congregate for the purpose of dealing in monetary assets. The author stresses the variety of organisational forms as well as the common elements of these markets.JEL: E40, E44, G10, G20

  8. A Cointegration And Error Correction Approach To Broad Money ...

    African Journals Online (AJOL)

    This study considered the stability of broad money demand function in Nigeria using data for 1970 to 2004. The study applied the Cointegration and error correction approach The Johansen Cointegration test shows that long run equilibrium relationship exists between broad money demand and its determinants. While the ...

  9. 48 CFR 31.205-10 - Cost of money.

    Science.gov (United States)

    2010-10-01

    ... CONTRACTING REQUIREMENTS CONTRACT COST PRINCIPLES AND PROCEDURES Contracts With Commercial Organizations 31... applicable cost-reimbursement contracts and for progress payment purposes under fixed-price contracts; and (3) Refers to— (i) Facilities capital cost of money (48 CFR 9904.414); and (ii) Cost of money as an element...

  10. MONEY LAUNDERING AS A TYPE OF ORGANIZED CRIME

    Directory of Open Access Journals (Sweden)

    Stevan Aleksoski

    2015-07-01

    Full Text Available Laundry wash is a new form of crime that endangers stability, transparency and efficiency of financial systems, the developed countries and developing countries. One of the most widespread and simplest understanding, and according to some authors and simplest definition of the term money laundering is the conversion of "black money in green." The most comprehensive definition of the term money laundering would be the definition accepted by the G-7 and the FATF, as supplemented by the element of avoiding legal consequences. According to this definition the process of money laundering is: - "The process by which the gains for which it is believed to originate from criminal activity are transported, transferred, converted or incorporated into legal funds in order to conceal their origin, source, movement or ownership. The purpose of the process of money laundering through illegal activities to enable these funds to appear as legitimate, and persons involved in criminal activity to escape the legal consequences of such action. " Given that money laundering is an international problem, the national regulations of almost all countries contain provisions that prohibit and penalize any kind of organized crime aimed at acquiring illegal material benefit. The money acquired illegally, criminals need to legalize or black money to resort to legal financial flows in order to conceal their origin, source, movement or ownership.

  11. Anti-Money Laundering Efforts - Failures, Fixes and the Future

    NARCIS (Netherlands)

    Deleanu, I.S.

    2015-01-01

    In this PhD thesis I address important topics in the debate on and the organisation of the Anti-Money Laundering efforts, which are related to the legitimacy and the effectiveness of the Anti-Money Laundering policies. First of all, this thesis provides a reflection on the assessments of concern

  12. 50 CFR 84.44 - What is the timetable for the use of grant money?

    Science.gov (United States)

    2010-10-01

    ... money? 84.44 Section 84.44 Wildlife and Fisheries UNITED STATES FISH AND WILDLIFE SERVICE, DEPARTMENT OF... WETLANDS CONSERVATION GRANT PROGRAM Conditions on Acceptance/Use of Federal Money § 84.44 What is the timetable for the use of grant money? Once money is granted to the coastal States, the money is available to...

  13. 17 CFR 270.12d1-1 - Exemptions for investments in money market funds.

    Science.gov (United States)

    2010-04-01

    ... money market funds. 270.12d1-1 Section 270.12d1-1 Commodity and Securities Exchanges SECURITIES AND... Exemptions for investments in money market funds. (a) Exemptions for acquisition of money market fund shares... issued by a money market fund; and (2) A money market fund, any principal underwriter thereof, and a...

  14. 31 CFR 103.137 - Anti-money laundering programs for insurance companies.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering programs for... Finance FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN TRANSACTIONS Anti-Money Laundering Programs Anti-Money Laundering Programs § 103.137 Anti-money laundering programs for insurance companies...

  15. 31 CFR 103.20 - Reports by money services businesses of suspicious transactions.

    Science.gov (United States)

    2010-07-01

    ... immediate attention, such as ongoing money laundering schemes, the money services business shall immediately... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Reports by money services businesses of suspicious transactions. 103.20 Section 103.20 Money and Finance: Treasury Regulations Relating to...

  16. 31 CFR 103.130 - Anti-money laundering programs for mutual funds.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering programs for... Finance FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN TRANSACTIONS Anti-Money Laundering Programs Anti-Money Laundering Programs § 103.130 Anti-money laundering programs for mutual funds. (a) For...

  17. MONEY TRANSFERS VIA ONLINE PLATFORMS - LOGISTICS FOR BUSINESS DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    CLAUDIA ISAC

    2016-10-01

    Full Text Available In this paper I have presented 3 of the money transfer platforms which operate via the Internet. The development of the Internet, electronic commerce and money transfers due to international migration and movement of people directly determines the improvement of money transfer processes, so as to find the best tools for money transfers at minimum costs and high transfer speeds, implying secure trading and personal data privacy. In this context I have compared the three most frequently used trading platforms PayPall, transferGo, TransferWise, also including a presentation of each of them. I have also done a more detailed analysis of the evolution of PayPall in Romania and on the international market due to the high amounts of money and the number of transactions. I have completed the work with a brief presentation of the financial trends and especially of trading via the Internet.

  18. Money, morality, and politics in the slums of Buenos Aires

    Directory of Open Access Journals (Sweden)

    Ariel Wilkis

    2016-06-01

    Full Text Available Abstract Studies on the political life of the poor in Latin American have rarely focused on money, although there have been works focused on the survival strategies of the poor; political clientelism; and collective mobilizations. In this article, I analyze political life in the poor neighborhoods of Greater Buenos Aires through the lens of money that circulates within the Peronist networks. I conducted ethnography fieldwork between 2006 and 2010. Does money have a legitimate role in politics? Has the monetization of political activities dissolved values, commitments, and loyalties among the poor? Is this corruption, or is this an ethical exchange among people who lack cash but possess moral capital? Here, I analyze how money becomes necessary to strengthen commitments, loyalties, obligations, expectations, and plans for both leaders and activists. Reconstructing this process can provide a foundation for the revision of place of money in political life.

  19. 31 CFR 100.16 - Exchange of paper and coin to be handled through Federal Reserve banks and branches.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Exchange of paper and coin to be... Regulations Relating to Money and Finance EXCHANGE OF PAPER CURRENCY AND COIN Other Information § 100.16 Exchange of paper and coin to be handled through Federal Reserve banks and branches. Other than as provided...

  20. Further developmental stages of the interest in money.

    Science.gov (United States)

    Forrest, D V

    1990-12-01

    Ferenczi, in his psychoanalytic classic on the ontogenesis (development in the individual) of the interest in money, without designating it as such, traced a phylogenetic or evolutionary sequence that took us by a series of transformations from the anal-cloacal erotism of valuation of a fecal body product (the infant's love of feces) to deodorized (like mud), dehydrated (like sand), decolorized, hardened, smooth (like stones and buttons) fecal substitutes that finally as coins are made to shine. This is to consider money as shiny possessable objects that would be of equal interest to simian species. Surely money can be analogized to other body products; and I have previously suggested (1969) that words also are a treasury of wealth that are valued as body products and also archaically associated with feces. But the youngest of the 18 suburban children in this pilot study seemed already to have related money to the love of their parents and grandparents. Further developmental stages of the human interest in money, here only suggested, appear to proceed as follows: curiosity about money as a belonging of the parents in oedipal-stage grasp of family politics (which may persist if childhood selfishness remains unleavened); money as a reward and exchange in latency trading (whether by boys and girls or grown-up "traders" in the financial "game"); money as a measure of status and class and as an indication of group identity in adolescence (which may persist in senses of group entitlement); and various levels of mature appreciation of money as a system of universal agreement, as a translatable, fungible form of information to register relative value, and as capital, an ingredient of productivity. Further study of the mental stages of the appreciation of money is warranted, but the social context appears unavoidably central. Ultimately money may be purely a mean that finally (harking back to its symbolic body origin) will be fully separated from the self in acts of

  1. Does money matter in inflation forecasting?

    Science.gov (United States)

    Binner, J. M.; Tino, P.; Tepper, J.; Anderson, R.; Jones, B.; Kendall, G.

    2010-11-01

    This paper provides the most fully comprehensive evidence to date on whether or not monetary aggregates are valuable for forecasting US inflation in the early to mid 2000s. We explore a wide range of different definitions of money, including different methods of aggregation and different collections of included monetary assets. In our forecasting experiment we use two nonlinear techniques, namely, recurrent neural networks and kernel recursive least squares regression-techniques that are new to macroeconomics. Recurrent neural networks operate with potentially unbounded input memory, while the kernel regression technique is a finite memory predictor. The two methodologies compete to find the best fitting US inflation forecasting models and are then compared to forecasts from a naïve random walk model. The best models were nonlinear autoregressive models based on kernel methods. Our findings do not provide much support for the usefulness of monetary aggregates in forecasting inflation. Beyond its economic findings, our study is in the tradition of physicists’ long-standing interest in the interconnections among statistical mechanics, neural networks, and related nonparametric statistical methods, and suggests potential avenues of extension for such studies.

  2. Can health promotion programs save Medicare money?

    Science.gov (United States)

    Goetzel, Ron Z; Shechter, David; Ozminkowski, Ronald J; Stapleton, David C; Lapin, Pauline J; McGinnis, J Michael; Gordon, Catherine R; Breslow, Lester

    2007-01-01

    The impact of an aging population on escalating US healthcare costs is influenced largely by the prevalence of chronic disease in this population. Consequently, preventing or postponing disease onset among the elderly has become a crucial public health issue. Fortunately, much of the total burden of disease is attributable to conditions that are preventable. In this paper, we address whether well-designed health promotion programs can prevent illness, reduce disability, and improve the quality of life. Furthermore, we assess evidence that these programs have the potential to reduce healthcare utilization and related expenditures for the Medicare program. We hypothesize that seniors who reduce their modifiable health risks can forestall disability, reduce healthcare utilization, and save Medicare money. We end with a discussion of a new Senior Risk Reduction Demonstration, which will be initiated by the Centers for Medicare and Medicaid Services in 2007, to test whether risk reduction programs developed in the private sector can achieve health improvements among seniors and a positive return on investment for the Medicare program. PMID:18044084

  3. Inside money, procyclical leverage, and banking catastrophes.

    Science.gov (United States)

    Brummitt, Charles D; Sethi, Rajiv; Watts, Duncan J

    2014-01-01

    We explore a model of the interaction between banks and outside investors in which the ability of banks to issue inside money (short-term liabilities believed to be convertible into currency at par) can generate a collapse in asset prices and widespread bank insolvency. The banks and investors share a common belief about the future value of certain long-term assets, but they have different objective functions; changes to this common belief result in portfolio adjustments and trade. Positive belief shocks induce banks to buy risky assets from investors, and the banks finance those purchases by issuing new short-term liabilities. Negative belief shocks induce banks to sell assets in order to reduce their chance of insolvency to a tolerably low level, and they supply more assets at lower prices, which can result in multiple market-clearing prices. A sufficiently severe negative shock causes the set of equilibrium prices to contract (in a manner given by a cusp catastrophe), causing prices to plummet discontinuously and banks to become insolvent. Successive positive and negative shocks of equal magnitude do not cancel; rather, a banking catastrophe can occur even if beliefs simply return to their initial state. Capital requirements can prevent crises by curtailing the expansion of balance sheets when beliefs become more optimistic, but they can also force larger price declines. Emergency asset price supports can be understood as attempts by a central bank to coordinate expectations on an equilibrium with solvency.

  4. Pennies from heaven? Conceptions and earmarking of lottery prize money.

    Science.gov (United States)

    Hedenus, Anna

    2014-06-01

    The source of money has been shown to be important for how money is spent. In addition, sudden wealth is often associated with social and psychological risks. This article investigates if conceptions of lottery prize money--as a special kind of money--imply restrictions on how it can be spent. Analysis of interviews with lottery winners shows that interviewees use earmarking of the prize money as a strategy for avoiding the pitfalls associated with a lottery win. Conceptions of lottery prize money as 'a lot' or as 'a little', as shared or personal, and as an opportunity or a risk, influences the ends for which it is earmarked: for self-serving spending, a 'normal' living standard, paying off loans, saving for designated purposes, or for economic security and independence. Clearly defining and earmarking lottery prize money thus helps lottery winners construe their sudden wealth, not as a risk, but as 'pennies from heaven.' © London School of Economics and Political Science 2014.

  5. Compliance and corporate anti-money laundering regulation

    Directory of Open Access Journals (Sweden)

    Pietro Pavone

    2018-04-01

    Full Text Available This paper, having traced the evolution of anti-money laundering legislation, defines and frames money laundering and terrorism financing risk inside corporate dynamics. Principles that must inspire corporate actions on the construction of an adequate managing structure to contain risks are set out, considering the fact that there is no risk that this does not have an economical content. This is even truer in the presented case, given that the Italian legislation to counter money laundering is focused on the innovative and modern risk-based approach, which has to guide the organization and functioning of corporations. Possible configuration of corporate anti-money laundering supervisions is therefore analyzed, with the aim of underlining the present connection between anti-money laundering legislation and rules referring to the government and to the internal control system. The present study originates from the interpretation of the new Italian anti-money laundering law. In particular, the first consideration that derives is that the new law does not impose precise obligations in terms of corporate anti-money laundering structure, but a large area of autonomy is left to the will of each company.

  6. Capitalism, money and banking: a critique of recent historical sociology.

    Science.gov (United States)

    Ingham, G

    1999-03-01

    A conception of money as a 'neutral veil' masking a 'real' economy was adopted by orthodox economic theory after the Methodenstreit, and is also to be found, in a different form, in Marxian political economy. Both derive from an erroneous functionalist and anachronistic 'commodity' theory of money which, as Post-Keynesian economists argue, cannot explain the distinctive form of capitalist credit-money. Orthodox economic theory and classic Marxism have tacitly informed and flawed historical sociology's understanding of money's role in capitalist development. Mann and Runciman, for example, consider the 'economy' exclusively in terms of the social relations of production and imply that money is epiphenomenal and is to be explained as a response to the needs of the 'real' economy. They do not recognize the structural specificity of capitalist money and banking nor its importance. An alternative account of the autonomous historical conditions of existence of the specifically capitalist form of bank and state credit-money and its role in capitalist development is outlined.

  7. Equity or equality? Moral judgments follow the money.

    Science.gov (United States)

    DeScioli, Peter; Massenkoff, Maxim; Shaw, Alex; Petersen, Michael Bang; Kurzban, Robert

    2014-12-22

    Previous research emphasizes people's dispositions as a source of differences in moral views. We investigate another source of moral disagreement, self-interest. In three experiments, participants played a simple economic game in which one player divides money with a partner according to the principle of equality (same payoffs) or the principle of equity (pay-offs proportional to effort expended). We find, first, that people's moral judgment of an allocation rule depends on their role in the game. People not only prefer the rule that most benefits them but also judge it to be more fair and moral. Second, we find that participants' views about equality and equity change in a matter of minutes as they learn where their interests lie. Finally, we find limits to self-interest: when the justification for equity is removed, participants no longer show strategic advocacy of the unequal division. We discuss implications for understanding moral debate and disagreement. © 2014 The Author(s) Published by the Royal Society. All rights reserved.

  8. Reconsidering Money: Monetary Exchange with Additive Transaction Costs

    DEFF Research Database (Denmark)

    Schröder, Philipp J.H.

    2001-01-01

    Under the assumption of purely additive transaction costs in exchange, the literature on money has a standard example of direct exchange dominating indirect (monetary) exchange. From here it is frequently concluded that subadditive costs (e.g. search costs) must be examined in order to explain...... money. In contrast, this paper presents an additive transaction costs model in which the mere absence of double coincidences of wants suffices to motivate monetary exchange. Furthermore it is found that not all commodity moneys, that are collectively desirable, qualify for the core, but that all fiat...

  9. Empirical justification of the elementary model of money circulation

    Science.gov (United States)

    Schinckus, Christophe; Altukhov, Yurii A.; Pokrovskii, Vladimir N.

    2018-03-01

    This paper proposes an elementary model describing the money circulation for a system, composed by a production system, the government, a central bank, commercial banks and their customers. A set of equations for the system determines the main features of interaction between the production and the money circulation. It is shown, that the money system can evolve independently of the evolution of production. The model can be applied to any national economy but we will illustrate our claim in the context of the Russian monetary system.

  10. Gulf money in Kerala: coping with the problems of plenty.

    Science.gov (United States)

    Kurian, R; Thakore, D

    businessman in Abu Dhabi since 1965, emigrants will invest in an industry only if they are convinced of the viability of the project, have a say in its management, and if there is reservation of jobs in the enterprise for their competent dependants. Thus far, the money mobilized into industry seems to be only a tiny proportion of the remittances. A major avenue of investment for the emigrants is real estate and, consequently, the prices of land have registered a marked increase. Even the service sector -- taxis and travel agencies -- have received a sizable boost because of the inflow of Gulf money into the state. According to G. Narayana Pillai, culturally and socially the new found wealth will not bring about any substantial social improvement.

  11. Can health promotion programs save Medicare money?

    Directory of Open Access Journals (Sweden)

    Ron Z Goetzel

    2007-04-01

    Full Text Available Ron Z Goetzel1, David Shechter2, Ronald J Ozminkowski1, David C Stapleton3, Pauline J Lapin4, J Michael McGinnis5, Catherine R Gordon6, Lester Breslow71Institute for Health and Productivity Studies, Cornell University, Washington, DC; 2Health and Productivity Research, Thomson Medstat, Santa Barbara, CA; 3Cornell Institute for Policy Research, Cornell University, Washington, DC; 4Office of Research, Development, and Information, Centers for Medicare and Medicaid Services, Baltimore, MD; 5National Academy of Sciences, Institute of Medicine, The National Academies, Washington, DC; 6Office of the Director, Centers for Disease Control and Prevention, Washington, DC; 7UCLA School of Public Health, Dept. of Health Services, Los Angeles, CA, USAAbstract: The impact of an aging population on escalating US healthcare costs is influenced largely by the prevalence of chronic disease in this population. Consequently, preventing or postponing disease onset among the elderly has become a crucial public health issue. Fortunately, much of the total burden of disease is attributable to conditions that are preventable. In this paper, we address whether well-designed health promotion programs can prevent illness, reduce disability, and improve the quality of life. Furthermore, we assess evidence that these programs have the potential to reduce healthcare utilization and related expenditures for the Medicare program. We hypothesize that seniors who reduce their modifiable health risks can forestall disability, reduce healthcare utilization, and save Medicare money. We end with a discussion of a new Senior Risk Reduction Demonstration, which will be initiated by the Centers for Medicare and Medicaid Services in 2007, to test whether risk reduction programs developed in the private sector can achieve health improvements among seniors and a positive return on investment for the Medicare program.Keywords: health promotion, return on investment, Medicare, financial

  12. THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND?

    Directory of Open Access Journals (Sweden)

    Yaser Taufik Syamlan

    2017-06-01

    Full Text Available Objectives – this research is aimed to compare those epistemological bases to the mindset of Islamic Bank and try to drive the philosophy in practical operation whether based on the Fractional Reserve Banking Sytem (RBS or 100% RBS and analyze the challenges in deploying the 100%RBS. Methods - This research will be conducted based on an extensive literature review.Results - Based on the epistemological analysis of money and the business cycle as well as the views of Islamic scholars, 100%RBS should be the best for Islamic Bank. There are four types of 100% RBS namely Pure Commodity Money, Sovereign Money, Narrow Banking, and Limited Purpose Banking. To deploy it into the economic system, another philosophical work should be done to choose one of the types and strengthen it so that the theory of 100%RBS can be implemented for the goodness of Islamic Bank.  Conclusion - In Conclusions, Based on the epistemology defined by Islamic Scholars, FractRBS has more mafsadah if we compare to the maslahah. Therefore, 100% RBS should be better for the Islamic Bank.

  13. Living green saves money. Personal environmental burden test

    International Nuclear Information System (INIS)

    2003-01-01

    Based on a number of questions one can calculate the environmental burden of a lifestyle and determine which measures can unburden the environment and how much money can be saved by changing a lifestyle [nl

  14. A model for measuring value for money in professional sports

    Directory of Open Access Journals (Sweden)

    Vlad ROŞCA

    2013-07-01

    Full Text Available Few to almost none sports teams measure the entertainment value they provide to fans in exchange of the money the latter ones spend on admission fees. Scientific literature oversees the issue as well. The aim of this paper is to present a model that can be used for calculating value for money in the context of spectating sports. The research question asks how can value for money be conceptualized and measured for sports marketing purposes? Using financial and sporting variables, the method calculates how much money, on average, a fan had to spend for receiving quality entertainment – defined as won matches – from his favorite team, during the last season of the Romanian first division football championship. The results only partially confirm the research hypothesis, showing that not just price and sporting performances may influence the value delivered to fans, but other factors as well.

  15. 78 FR 63465 - Adjusting Civil Money Penalties for Inflation

    Science.gov (United States)

    2013-10-24

    ... cost-of-living adjustments to the civil money penalties (CMPs) that the Farm Credit System Insurance... consumers (CPI-U).\\4\\ Specifically, the term ``cost-of-living adjustment'' is defined as ``the percentage...

  16. An Evaluation of the Non-Neutrality of Money.

    Science.gov (United States)

    Moreira, Tito Belchior Silva; Tabak, Benjamin Miranda; Mendonça, Mario Jorge; Sachsida, Adolfo

    2016-01-01

    This paper evaluates the effect of a change in the quantity of money on relative prices in the U.S. economy based on quarterly time-series for the period of 1959 to 2013. We also estimate the implication of a change in relative prices on the rate of inflation and macroeconomic variables. The empirical results indicate that the change of money supply not only affects relative prices but also affects the inflation rate and real variables, such as investment, natural rate of unemployment and potential GDP, through the change in relative prices. The relevant finding of our study is that money is not neutral in a non-traditional sense because a change in the money supply disturbs relative prices and, consequently, the allocation of resources in the economy. This finding has serious implications that must be considered in the transmission mechanisms of monetary policy.

  17. An Evaluation of the Non-Neutrality of Money.

    Directory of Open Access Journals (Sweden)

    Tito Belchior Silva Moreira

    Full Text Available This paper evaluates the effect of a change in the quantity of money on relative prices in the U.S. economy based on quarterly time-series for the period of 1959 to 2013. We also estimate the implication of a change in relative prices on the rate of inflation and macroeconomic variables. The empirical results indicate that the change of money supply not only affects relative prices but also affects the inflation rate and real variables, such as investment, natural rate of unemployment and potential GDP, through the change in relative prices. The relevant finding of our study is that money is not neutral in a non-traditional sense because a change in the money supply disturbs relative prices and, consequently, the allocation of resources in the economy. This finding has serious implications that must be considered in the transmission mechanisms of monetary policy.

  18. The dynamic relationship between money supply and economic growth

    Directory of Open Access Journals (Sweden)

    Antoni Antoni

    2015-10-01

    Full Text Available This study analyzes the influence of the financial sector to economic growth in Indonesia. The variables used are the country's financial sectors which are narrow money (M1, broad money (M2 and money the broadest money (M3, with an interest rate as a control variable. Economic growth is represented by Gross Domestic Product and producer price index. The analysis is performed using an Autoregressive Distributed Lag model (ARDL. The stability test is conducted using CUSUM test to see the changes in the structure and the effect of disruption to financial sector development relationship of economic growth. ARDL analysis results indicate that the development of the financial sector has a significant relationship with the country's economic growth. CUSUM analysis results suggest that the relationship of financial sector development-economic growth is stable against changes in economic structure.

  19. Dopamine release in ventral striatum of pathological gamblers losing money

    DEFF Research Database (Denmark)

    Linnet, J; Peterson, E; Doudet, D J

    2010-01-01

    Linnet J, Peterson E, Doudet DJ, Gjedde A, Møller A. Dopamine release in ventral striatum of pathological gamblers losing money. Objective: To investigate dopaminergic neurotransmission in relation to monetary reward and punishment in pathological gambling. Pathological gamblers (PG) often continue...... gambling despite losses, known as 'chasing one's losses'. We therefore hypothesized that losing money would be associated with increased dopamine release in the ventral striatum of PG compared with healthy controls (HC). Method: We used Positron Emission Tomography (PET) with [(11)C]raclopride to measure...... dopamine release in the ventral striatum of 16 PG and 15 HC playing the Iowa Gambling Task (IGT). Results: PG who lost money had significantly increased dopamine release in the left ventral striatum compared with HC. PG and HC who won money did not differ in dopamine release. Conclusion: Our findings...

  20. Analysis of Why the Renal Dialysis Unit is Losing Money

    National Research Council Canada - National Science Library

    Moore, Leslie

    1997-01-01

    .... Despite efforts to remain competitive by procuring "state of the art" equipment intended to decrease treatment times and result in cost savings, the renal dialysis product line was losing money...

  1. Forensic Accounting Profession and Prevention of Money Laundering

    Directory of Open Access Journals (Sweden)

    Murat KASAP

    2013-06-01

    Full Text Available In today’s world, globalization and the increased use of information technology have resulted to the significant increases of economic crimes in recent years. Accordingly, financial crimes, such as money laundering misconducts have increased significantly. The police play active roles in the fight against money laundering and related crimes in Turkey. However, professional support is essential in order to effectively combat money laundering. In other words, not only a good level of economics, finance, accounting knowledge is critical; but also, a decent level of law information is crucial in the detection and prevention of these crimes. Increasing the effectiveness of forensic accounting profession, especially in the USA, has an important role in the prevention and detection of money laundering. Since forensic accountants have skills and capacities of litigation support, investigative accounting and expertise.

  2. Information Technologies for the Control of Money Laundering

    National Research Council Canada - National Science Library

    1995-01-01

    .... It is estimated that $300 billion of dirty money may be laundered each year, its origin and ownership obscured as it passes through financial institutions and across national boundaries in an effort to hide and protect...

  3. Gatekeepers’ Roles as a Fundamental Key in Money Laundering

    Directory of Open Access Journals (Sweden)

    Paku Utama

    2016-08-01

    Full Text Available This study examines problem of money laundering and identifies role of gatekeepers in utilising their expertise to conceal the proceeds of crime. In order to successfully prevent and investigate money laundering, we need to understand the development of anti-money laundering regime and how country like Indonesia adopts this development into its domestic regulations. Nevertheless, it is crucial to comprehend gatekeepers utilising various money laundering mechanisms and offshore financial centres. Scrutinised cases from Indonesia and corporate practices from Singapore on this study highlight how gatekeepers operate in the private sector, wittingly or unwittingly, use their expert knowledge of the international financial system to facilitate criminals and to secure the movement of the proceeds of crime globally. 

  4. The Time Value of Money in Financial Management

    Directory of Open Access Journals (Sweden)

    Munteanu Irena

    2017-01-01

    Full Text Available The Time Value of Money is a important concept in financial management. The Time Value of Money (TVM includes the concepts of future value and discounted value. It is mandatory for a financial professional to know and operate the specific techniques of TVM. Within the present article we present the basic notions and illustrate their application in the field of investment projects. The case studies presented are valuable for an efficient financial management.

  5. Money and the UK Economy: An Empirical Study

    OpenAIRE

    Saunders, Peter J.

    1987-01-01

    The question of how changes in the money, supply affect an economy has occupied economists for centuries. The origins of the debate on the effects of money on an economy can be traced to the writings of John Locke, Richard Cantillon, and David Hume, among others. Essentially, the key issue is which economic variables, such as prices, output and employment, do monetary changes affect. Two major opposing views can be readily identified: the monetarist and the Keynesian. The monetarist view is b...

  6. "Benjamin Franklin and the Birth of a Paper Money Economy"

    OpenAIRE

    Farley Grubb

    2007-01-01

    Paper money has often been controversial and misunderstood. Why it has value, why that value changes over time, how it influences economic activity, who should be allowed to make it, how its use and creation should be controlled, and whether it should exist at all—are questions that have perplexed the public, vexed politicians, and puzzled economic experts. Knowing how, when, and why paper money first became commonplace in America and the nature of the institutions propagating it, can help us...

  7. On the frontline against money-laundering: the regulatory minefield

    OpenAIRE

    Gelemerova , Liliya

    2008-01-01

    Abstract Intelligence gathering plays a vital role in the `war? against money laundering. Particularly important in this intelligence gathering process is the global network of Financial Intelligence Units (FIUs) fed by a host of auxiliary (primarily financial) institutions required to report suspicious transactions. This paper briefly reviews the history of the international system of anti-money laundering measures imposed on the financial industry and other regulated businesses, ...

  8. On money as an institution and medium of exchange

    Directory of Open Access Journals (Sweden)

    Andreea Bucur

    2012-12-01

    Full Text Available In this working paper we attempted to analysis on money combining the economic and the institutional dimension, on the grounds that we cannot refer to money, in the context of analyzing the human society, strictly from a perspective or another, separately. The subject of our paper implies the concept of “money” approach from two perspectives: institutional and functional, so that thematic area concerns the socio-economic sphere and especially the financial-monetary one.

  9. The Association Between Money and Opinion in Academic Emergency Medicine

    Directory of Open Access Journals (Sweden)

    Birkhahn, Robert H

    2010-05-01

    Full Text Available Objectives: Financial conflicts of interest have come under increasing scrutiny in medicine, but their impact has not been quantified. Our objective was to use the results of a national survey of academic emergency medicine (EM faculty to determine if an association between money and personal opinion exists.Methods: We conducted a web-based survey of EM faculty. Opinion questions were analyzed with regard to whether the respondent had either 1 received research grant money or 2 received money from industry as a speaker, consultant, or advisor. Responses were unweighted, and tests of differences in proportions were made using Chi-squared tests, with p<0.05 set for significance.Results: We received responses from 430 members; 98 (23% received research grants from industry, while 145 (34% reported fee-for-service money. Respondents with research money were more likely to be comfortable accepting gifts (40% vs. 29% and acting as paid consultants (50% vs. 37%. They had a more favorable attitude with regard to societal interactions with industry and felt that industry-sponsored lectures could be fair and unbiased (52% vs. 29%. Faculty with fee-for-service money mirrored those with research money. They were also more likely to believe that industry-sponsored research produces fair and unbiased results (61% vs. 45% and less likely to believe that honoraria biased speakers (49% vs. 69%.Conclusion: Accepting money for either service or research identified a distinct population defined by their opinions. Faculty engaged in industry-sponsored research benefitted socially (collaborations, academically (publications, and financially from the relationship. [West J Emerg Med. 2010; 11(2: 126-132.

  10. Money Market Operations in FY2000

    OpenAIRE

    Open Market Operations Division

    2001-01-01

    In FY2000, the Bank of Japan changed the level of its interest rate target on two occasions, and switched its operating target from the overnight call rate to the aggregate balance of current account deposits held at the Bank. Furthermore, facing a major change to the settlement system with the introduction of RTGS (real-time gross settlement) for current accounts at the Bank and JGSs, the Bank realized the importance for the Bank's market operations to be both timely and flexible as ever bef...

  11. An ERP study on decisions between attractive females and money.

    Science.gov (United States)

    Zeng, Jianmin; Wang, Yujiao; Zhang, Qinglin

    2012-01-01

    To investigate the neural processes of decision-makings between attractive females and money, we recorded 18 male participants' brain event-related potentials (ERPs) when they performed a novel task of deciding between viewing an attractive female's fuzzy picture in clear and gaining a certain amount of money. Two types of attractive females were included: sexy females and beautiful females. Several new electrophysiological discoveries were obtained as following. First, the beautiful females vs. money task (task B) elicited a larger positive ERP deflection (P2) than the sexy females vs. money task (task S) between 290 and 340 ms, and this probably related to the perception matching process between a visual input and an internal representation or expectation. Second, task S evoked greater negative ERP waves (N2) than task B during the time window of 340-390 ms, and this might relate to response conflict and cognitive monitoring for impulsive tendency. Third, the ERP positivity in task S was larger than task B in the time interval of 550-1000 ms, reflecting that sexy female images may have higher decision value for males than beautiful female images. Fourth, compared with choosing to gain money, choosing to view an attractive female evoked a larger late positive component (LPC) during the same time window, possibly because attractive females are more direct and evolutionarily earlier rewards for males than money amounts.

  12. Grandiose and Vulnerable Narcissism, Materialism, Money Attitudes, and Consumption Preferences.

    Science.gov (United States)

    Pilch, Irena; Górnik-Durose, Małgorzata E

    2017-02-17

    Narcissism is increasingly being investigated in the context of consumer attitudes and behavior. Previous research showed that narcissism is reflected in materialistic tendencies and money-related attitudes. However, almost all of these studies concerned the grandiose type of narcissism. We examined relationships of both grandiose and vulnerable narcissism with materialism, money attitudes, and consumption preferences in a nonstudent sample. The results showed that the two types of narcissism are equally associated with materialism and a tendency to conspicuous (public) consumption. Differences between grandiose and vulnerable narcissism with regard to money attitudes were observed. Materialism mediated most of the relationships between narcissism, money attitudes, and consumption preferences, but the patterns of mediation were different for grandiose and vulnerable subtypes. Mutual suppression occurred when grandiose narcissism and materialism predicted anxiety associated with money and when vulnerable narcissism and materialism predicted money perceived as a source of evil. The results suggested that not only grandiose, but also vulnerable narcissists may be prone to excessive consumption and that this can be explained by their materialistic tendencies.

  13. A historical analysis of the theories of money

    Directory of Open Access Journals (Sweden)

    Farah Durani

    2016-03-01

    Full Text Available Money, the most complex idea to understand is labelled a subject of disagreement and a thorough confusion among economists. “Money” has been fortunate enough a topic to receive ample attention from the philosophers. Economic literature is replete with theories concerning the understanding and behavior of money from different historic eras. The present day knowledge of money is very limited when it comes to understanding what actually it can be. Most of the common strata of people believe that the money is something that is determined by the governments. People generally hold the view that citizens have a legitimate duty incumbent upon them to honor the payment systems stipulated by the authorities. This Research Paper aims at bringing together most of the prominent contributions of greatest philosophers of money and clearly demarcates various schools of monetary thought be it the Classical, Neo-Classical or the Heterodox. The aims of this chapter are to review the relevant theories concerning the understanding of money, to present the monetary dogmas of historical times in a proper chronological order, to establish a link between the predecessor and the successor, to elaborate on the most obscure confusions and their causes in an easy to understand parlance and to deviate from the mainstream to discuss the Heterodox yet appealing school of thought.

  14. Infiltration deposits

    International Nuclear Information System (INIS)

    Khasanov, A.Kh.

    1988-01-01

    Infiltration deposits-is concentration of minerals matters formed by concretion on the some depth of readily soluble of descending waters of hyper genes zone. In the process of rocks chemical decomposition a great deal of readily soluble components in the form of sulfates, carbonates, bicarbonates, hydro-oxides and complex compounds, including ore element compounds become free

  15. 42 CFR 3.404 - Amount of a civil money penalty.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false Amount of a civil money penalty. 3.404 Section 3... money penalty. (a) The amount of a civil money penalty will be determined in accordance with paragraph (b) of this section and § 3.408 of this subpart. (b) The Secretary may impose a civil money penalty...

  16. 39 CFR 762.28 - Release of original disbursement postal money orders.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Release of original disbursement postal money...; DISBURSEMENT POSTAL MONEY ORDERS DISBURSEMENT POSTAL MONEY ORDERS Endorsements, Payment, Guaranties, Warranties and Processing of Disbursement Postal Money Orders § 762.28 Release of original disbursement postal...

  17. 17 CFR 1.21 - Care of money and equities accruing to customers.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Care of money and equities... COMMISSION GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT Customers' Money, Securities, and Property § 1.21 Care of money and equities accruing to customers. All money received directly or indirectly by...

  18. 48 CFR 1830.7002-4 - Determining imputed cost of money.

    Science.gov (United States)

    2010-10-01

    ... money. 1830.7002-4 Section 1830.7002-4 Federal Acquisition Regulations System NATIONAL AERONAUTICS AND... Determining imputed cost of money. (a) Determine the imputed cost of money for an asset under construction, fabrication, or development by applying a cost of money rate (see 1830.7002-2) to the representative...

  19. 45 CFR 160.404 - Amount of a civil money penalty.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 1 2010-10-01 2010-10-01 false Amount of a civil money penalty. 160.404 Section... RELATED REQUIREMENTS GENERAL ADMINISTRATIVE REQUIREMENTS Imposition of Civil Money Penalties § 160.404 Amount of a civil money penalty. (a) The amount of a civil money penalty will be determined in accordance...

  20. 48 CFR 52.215-16 - Facilities Capital Cost of Money.

    Science.gov (United States)

    2010-10-01

    ... Money. 52.215-16 Section 52.215-16 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION....215-16 Facilities Capital Cost of Money. As prescribed in 15.408(h), insert the following provision: Facilities Capital Cost of Money (JUN 2003) (a) Facilities capital cost of money will be an allowable cost...

  1. 39 CFR 762.43 - Issuance of substitute disbursement postal money order.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Issuance of substitute disbursement postal money...; DISBURSEMENT POSTAL MONEY ORDERS DISBURSEMENT POSTAL MONEY ORDERS Issuance of Substitutes for Lost, Destroyed, Mutilated, and Defaced Disbursement Postal Money Orders § 762.43 Issuance of substitute disbursement postal...

  2. Cognitive reserve in aging.

    Science.gov (United States)

    Tucker, A M; Stern, Y

    2011-06-01

    Cognitive reserve explains why those with higher IQ, education, occupational attainment, or participation in leisure activities evidence less severe clinical or cognitive changes in the presence of age-related or Alzheimer's disease pathology. Specifically, the cognitive reserve hypothesis is that individual differences in how tasks are processed provide reserve against brain pathology. Cognitive reserve may allow for more flexible strategy usage, an ability thought to be captured by executive functions tasks. Additionally, cognitive reserve allows individuals greater neural efficiency, greater neural capacity, and the ability for compensation via the recruitment of additional brain regions. Taking cognitive reserve into account may allow for earlier detection and better characterization of age-related cognitive changes and Alzheimer's disease. Importantly, cognitive reserve is not fixed but continues to evolve across the lifespan. Thus, even late-stage interventions hold promise to boost cognitive reserve and thus reduce the prevalence of Alzheimer's disease and other age-related problems.

  3. Raising money for scientific research through crowdfunding.

    Science.gov (United States)

    Wheat, Rachel E; Wang, Yiwei; Byrnes, Jarrett E; Ranganathan, Jai

    2013-02-01

    In this article we discuss the utility of crowdfunding from the perspective of individual scientists or laboratory groups looking to fund research. We address some of the main factors determining the success of crowdfunding campaigns, and compare this approach with the use of traditional funding sources. Copyright © 2012 Elsevier Ltd. All rights reserved.

  4. Computerized reserves assessment improves colliery planning. [Poland

    Energy Technology Data Exchange (ETDEWEB)

    Pozor, L.; Wrobel, R.

    1984-01-01

    The authors describe systems developed in Poland for the computerised assessment of coal reserves. The Zasoby system calculates coal reserves and evaluates selected natural properties of seams within the boundaries of an arbitrary mining property, based entirely on exploratory borehole data. The IOS-10 system is based on the Polish data bank for bituminous coal deposits. It is not suitable for use in mine design procedures, but is widely used for the statistical recording of reserves in areas currently being worked. The major part of the paper is devoted to a description of the Geo-3 system, used for the computation of reserves in prospective areas from borehole data, as well as in active mining areas or partially worked-out deposits. The computation method is explained and examples of the results obtained are given.

  5. CREDIT CREATION OF MONEY AS A FAILURE OF COMMERCIAL BANKS´ INCENTIVES

    OpenAIRE

    Ivana Ryvolová

    2008-01-01

    This paper focuses on the mechanism of money creation in the fractionalreserve banking system. The aim of this paper is to enlighten the origin of money supply, or more precisely to analyse incentives of the institutions participating in the process of money creation of the whole money stock. Following from this, the paper refers to commercial banks as the most serious destabilizing factor of purchasing power of money in the several last decades. Attention is given to factors which influence ...

  6. Mobile money, smallholder farmers, and household welfare in Kenya.

    Science.gov (United States)

    Kikulwe, Enoch M; Fischer, Elisabeth; Qaim, Matin

    2014-01-01

    The use of mobile phones has increased rapidly in many developing countries, including in rural areas. Besides reducing the costs of communication and improving access to information, mobile phones are an enabling technology for other innovations. One important example are mobile phone based money transfers, which could be very relevant for the rural poor, who are often underserved by the formal banking system. We analyze impacts of mobile money technology on the welfare of smallholder farm households in Kenya. Using panel survey data and regression models we show that mobile money use has a positive impact on household income. One important pathway is through remittances received from relatives and friends. Such remittances contribute to income directly, but they also help to reduce risk and liquidity constraints, thus promoting agricultural commercialization. Mobile money users apply more purchased farm inputs, market a larger proportion of their output, and have higher profits than non-users of this technology. These results suggest that mobile money can help to overcome some of the important smallholder market access constraints that obstruct rural development and poverty reduction.

  7. Mobile money, smallholder farmers, and household welfare in Kenya.

    Directory of Open Access Journals (Sweden)

    Enoch M Kikulwe

    Full Text Available The use of mobile phones has increased rapidly in many developing countries, including in rural areas. Besides reducing the costs of communication and improving access to information, mobile phones are an enabling technology for other innovations. One important example are mobile phone based money transfers, which could be very relevant for the rural poor, who are often underserved by the formal banking system. We analyze impacts of mobile money technology on the welfare of smallholder farm households in Kenya. Using panel survey data and regression models we show that mobile money use has a positive impact on household income. One important pathway is through remittances received from relatives and friends. Such remittances contribute to income directly, but they also help to reduce risk and liquidity constraints, thus promoting agricultural commercialization. Mobile money users apply more purchased farm inputs, market a larger proportion of their output, and have higher profits than non-users of this technology. These results suggest that mobile money can help to overcome some of the important smallholder market access constraints that obstruct rural development and poverty reduction.

  8. Mobile Money, Smallholder Farmers, and Household Welfare in Kenya

    Science.gov (United States)

    Kikulwe, Enoch M.; Fischer, Elisabeth; Qaim, Matin

    2014-01-01

    The use of mobile phones has increased rapidly in many developing countries, including in rural areas. Besides reducing the costs of communication and improving access to information, mobile phones are an enabling technology for other innovations. One important example are mobile phone based money transfers, which could be very relevant for the rural poor, who are often underserved by the formal banking system. We analyze impacts of mobile money technology on the welfare of smallholder farm households in Kenya. Using panel survey data and regression models we show that mobile money use has a positive impact on household income. One important pathway is through remittances received from relatives and friends. Such remittances contribute to income directly, but they also help to reduce risk and liquidity constraints, thus promoting agricultural commercialization. Mobile money users apply more purchased farm inputs, market a larger proportion of their output, and have higher profits than non-users of this technology. These results suggest that mobile money can help to overcome some of the important smallholder market access constraints that obstruct rural development and poverty reduction. PMID:25286032

  9. Neural correlates of time versus money in product evaluation

    Directory of Open Access Journals (Sweden)

    Sebastian eLehmann

    2012-10-01

    Full Text Available The common saying time is money reflects the widespread belief in many people’s everyday life that time is valuable like money. Psychologically and neurophysiologically, however, these concepts seem to be quite different. This research replicates prior behavioral investigations by showing that merely mentioning time (compared to merely mentioning money leads participants to evaluate a product more positively. Beyond this finding, the present functional magnetic resonance imaging (fMRI experiment provides novel insight into the neurophysiological underpinnings of this behavioral effect by showing that more positive product evaluations in the time primes (compared to money primes are preceded by increased activation in the insula. Our data, therefore, support the idea of a time mindset that is different from a money mindset. Studies on the functional neuroanatomy of the insula have implicated this brain area in distinct but related psychological phenomena such as urging, addiction, loss aversion, and love. These functions imply greater personal connection between the consumer and a target subject or object and, thus, help explain why time-primed consumers rate products more positively.

  10. Modeling Base Money Demand and Inflation for the Turkish Economy = Türkiye Ekonomisi Üzerine Parasal Taban ve Enflasyon Modeli

    Directory of Open Access Journals (Sweden)

    Levent Korap

    2008-06-01

    Full Text Available In this paper, a reserve money demand model is tried to be constructed for the Turkish economy. Using contemporaneous multivariate co - integration methodology for the investigation period 1987Q1 - 2007Q3 of the quarterly observations, we find that the real income elasticity of money demand is highly greater than unity which means that there exists an ongoing monetization process with regard to the increases in the real income in the economy. The most important alternative cost against the real money holdings seems to be the expected depreciation rate of the domestic currency against the exchange rate. Such a finding reveals the importance of currency substitution phenomenon dominated in the economy when the economic agents determine the motives of demand for monetary balances. Furthermore, a critical finding estimated in the paper is that domestic inflation has a weakly exogenous characteristic in the money demand variable space which requires no dynamic error correction model constructed on domestic inflation as a function of the excess money demand taken place under the money market disequilibrium conditions.

  11. The Development of Anti-Money Laundering Regime: Challenging issues to sovereignty, jurisdiction, law enforcement, and their implications on the effectiveness in countering money laundering

    NARCIS (Netherlands)

    H. Amrani (Hanafi)

    2012-01-01

    textabstractThere is a relationship between money laundering and anti-money laundering regime (hereinafter referred to as ‘AML-regime’). On the one hand, money laundering has significantly increased following the development of technology that offers complicated, sophisticated, and professional

  12. 75 FR 33501 - Definitions for Regulations Affecting All Savings Associations; Money Market Deposit Accounts

    Science.gov (United States)

    2010-06-14

    ... notice and comment is unnecessary under the Administrative Procedure Act (APA) and is implementing this... would be at a competitive disadvantage. \\3\\ 74 FR 47050 (September 15, 2009). C. Amendment to Definition... for dispensing with the 30-day delay required by the Administrative Procedure Act (APA). OTS...

  13. APPLICATION OF FORENSIC AUDITING IN FRAUD CONTROL IN NIGERIA MONEY DEPOSIT BANKS

    OpenAIRE

    Zachariah Peter

    2013-01-01

    The study examines the application of forensic auditing in fraud control in Nigerian banks. Nigerian banks over the past decades suffered from the menace of frauds which resulted to distresses and liquidations which hamper the roles of banks in the economy. The external auditors failed to detect the frauds in the course of carrying out their work. Regulatory evidences have shown that bank frauds increase on daily basis. Analysis of the types of frauds and forgeries perpetrated sho...

  14. Electronic money in russia: current state and problems of development

    Directory of Open Access Journals (Sweden)

    T. G. Bondarenko

    2016-01-01

    Full Text Available Article is devoted to urgent problems of non-cash methods of calculation development by using electronic money – as one of the modern economically developed state strategic tasks. On modern economic science strong influence appears informatization process. The control expansion tendency, influence and distribution of commerce due to informatization of society led to emergence of the new phenomenon – information economy. Information economy brought new economic events which owing to their novelty are insufficiently studied to life. It is possible to carry electronic money to such phenomena of modern network economy Relevance and, in our opinion, timeliness of this scientific work, consisting in novelty of this non-cash payment method, its prospects and innovation within non-cash methods of calculations. Authors set as the purpose – studying of problems and the prospects of development of electronic money in the Russian Federation. In article theoretical bases of electronic money functioning are described. Determinations and classifications dismissed non-cash a method, and also the principles of electronic money functioning are considered, the questions of their historical development are raised.Authors analyzed statistical data on development of electronic services and channels of their using. Features, benefits and shortcomings of the current state of the market of electronic money are studied. The emphasis on that fact that in modern conditions considerable number of economic actors perform the activities, both in the real environment of economy, and within the virtual environment that promotes expansion of methods of their customer interaction by means of technical devices of personal computers, mobile phones is placed. In article common problems and tendencies of payments with using an electronic money are designated, the research on assessment of the current state and the prospects of electronic money

  15. Why prioritize when there isn't enough money?

    Science.gov (United States)

    Wikler, Daniel

    2003-02-26

    In an informal address to the 4th International Conference on Priorities in Health (Oslo, 23 September 2002), Professor Jeffrey Sachs - Chairperson of the WHO Commission on Macroeconomics and Health - maintained that the real causes of the inability of the world's poorest people to receive help for the lethal diseases that burden them did not include the "usual suspects" (corruption, mismanagement, and wrong priorities). Rather, the root cause was argued to be an inherent lack of money, indicating that the burden of disease would be lifted only if rich countries gave more money to poor ones.Without taking exception to anything that Sachs said in his address, there nevertheless remain a number of justifications for efforts to improve priority setting in the face of severely shortages of resources, including the following three defenses: prioritization is needed if we are to know that prioritization is insufficient; prioritization is most important when there is little money; prioritization can itself increase resources.

  16. THE SOCIAL IMPACT OF FAKE MONEY AND EXCHANGE CONTROL

    Directory of Open Access Journals (Sweden)

    Evgeniy Stoyanov

    2016-03-01

    Full Text Available The article is devoted to the social impact that produces the control exerted on the condition and suitability of the currency used. The aim of the exhibition is related to the disclosure of the nature of the phenomenon of "fake" money, and the control and prevention of their use and distribution. The tasks arising from the defined objective are aimed at revealing the characteristics of fake money, getting acquainted with the requisites of protecting real money and detection mechanisms to implement effective control and prevention work in this direction into the economic reality. The objectives determine the use of methods such as historical flashback and others with a strong analytical nature.

  17. Paper Money Value Change: Comparative Banking Fiqhiyyah Study

    Directory of Open Access Journals (Sweden)

    Hamzah Abdu Karim

    2015-10-01

    Full Text Available This article considered one of the significant issues in Islamicfinancial fiqh because it bears a close relation to financial commitment. Many fiqh treatments from a Sharia perspective were found in Islamic ancient fiqh. This issue was apparent in Islamic banks investment especially in murâbahah. The study concludes that it is a must who owes amount of money and its value changes to high or low to pay the value of money then,and not the actual amount. Furthermore, it shows that the  treatment of fluctuations in money value comes by linking its value with some indicators, including stable currency and the linkage to gold or silverDOI: 10.15408/aiq.v5i1.2561

  18. Paper Money Value Change: Comparative Banking Fiqhiyyah Study

    Directory of Open Access Journals (Sweden)

    Hamzah Abdul Karim Hamid

    2015-10-01

    Full Text Available This article considered one of the significant issues in Islamic financial fiqh because it bears a close relation to financial commitment. Many fiqh treatments from a Sharia perspective were found in Islamic ancient fiqh. This issue was apparent in Islamic banks investment especially in murabahah. The study concludes that it is a must who owes amount of money and its value changes to high or low to pay the value of money then, and not the actual amount. Furthermore, it shows that the treatment of fluctuations in money value comes by linking its value with some indicators, including stable currency and the linkage to gold or silver.DOI: 10.15408/aiq.v5i1.2115

  19. Money Laundering. Aspects of Legal and Criminal Issues

    Directory of Open Access Journals (Sweden)

    Alina DUMITRACHE

    2011-11-01

    Full Text Available This study aims at analyzing objectively various techniques and methods of money laundering, both in classical and modern ways, by presenting case studies from the legal practice in Romania, in an attempt to clarify a number of issues related to the complexity of this crime, current and future tendencies of financial criminals for laundering proceeds of crime. Also, according to the analysis of comparative law performed in the last chapter, we highlighted a number of similarities and differences between the Romanian legislation and the legislative laws of other states, surprising the forms and effects of money laundering on the studied national systems as well as highlighting the measures for preventing and fighting against these crimes adopted by the analyzed legal systems. The comparative approach of the criminal and legal framework of preventing and combating money laundering is essential for the Romanian legal system efficiency in this matter.

  20. "More money for health - more health for the money": a human resources for health perspective

    Directory of Open Access Journals (Sweden)

    Jones Iain

    2011-07-01

    Full Text Available Abstract Background At the MDG Summit in September 2010, the UN Secretary-General launched the Global Strategy for Women's and Children's Health. Central within the Global Strategy are the ambitions of "more money for health" and "more health for the money". These aim to leverage more resources for health financing whilst simultaneously generating more results from existing resources - core tenets of public expenditure management and governance. This paper considers these ambitions from a human resources for health (HRH perspective. Methods Using data from the UK Department for International Development (DFID we set out to quantify and qualify the British government's contributions on HRH in developing countries and to establish a baseline.. To determine whether activities and financing could be included in the categorisation of 'HRH strengthening' we adopted the Agenda for Global Action on HRH and a WHO approach to the 'working lifespan' of health workers as our guiding frameworks. To establish a baseline we reviewed available data on Official Development Assistance (ODA and country reports, undertook a new survey of HRH programming and sought information from multilateral partners. Results In financial year 2008/9 DFID spent £901 million on direct 'aid to health'. Due to the nature of the Creditor Reporting System (CRS of the Organisation for Economic Co-operation and Development (OECD it is not feasible to directly report on HRH spending. We therefore employed a process of imputed percentages supported by detailed assessment in twelve countries. This followed the model adopted by the G8 to estimate ODA on maternal, newborn and child health. Using the G8's model, and cognisant of its limitations, we concluded that UK 'aid to health' on HRH strengthening is approximately 25%. Conclusions In quantifying DFID's disbursements on HRH we encountered the constraints of the current CRS framework. This limits standardised measurement of ODA on HRH

  1. Money attitude of Ukrainian young people: socio-demographic aspect

    Directory of Open Access Journals (Sweden)

    MARIANNA SIMKIV

    2013-09-01

    Full Text Available The article presents the results of research on social and demographic factors of Ukr health literacy, health culture, young adults, concepts of health and healthy lifestyle, motivations, forms of communication, learning methods ainian youth money attitudes. The aim of the research is to identify dependency between money attitudes of the young people and such social and demographic characteristics as sex, age, education, place of residence, place of employment, employment position and level of income. The research required application of survey and questionnaire methods as well as statistical methods of results processing.

  2. Utility says grid firm owes money for nuclear

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    Russian nuclear power stations are owed more than 100 billion rubles, according to Yevgeniy Ignatenko, vice president of the state-owned utility organization Rosenergoatom, which is responsible for operation of nuclear power stations. A Russian grid company, which came into existence at the beginning of 1993, is supposed to collect money from consumers and pay the power stations for the electricity that they have supplied, but Ignatenko complains that this company has paid less than half of the money it owes for the first eight months of the year

  3. Building Financial Peace: A Conflict Resolution Framework for Money Arguments

    Directory of Open Access Journals (Sweden)

    Sarah D Asebedo

    2016-12-01

    Full Text Available This paper presents a well-known and highly utilized conflict resolution framework from the mediation profession and demonstrates how to apply this framework to money arguments. While conflict resolution skills have been identified as important to communication within the financial planning context, an integrated conflict resolution framework has yet to be recognized and understood within the financial planning literature. This paper aims to fill this gap. Ultimately, both mental health professionals and financial planners can benefit from an interdisciplinary approach to resolving money arguments by combining training in personal financial strategies and conflict resolution principles.

  4. 'At Least I Didn't Lose Money'

    DEFF Research Database (Denmark)

    Stephens, Thomas Alexander; Tyran, Jean-Robert Karl

    Loss aversion is one of the most robust findings to have emerged from behavioral economics. Surprisingly little attention, however, has been devoted to nominal loss aversion, the interaction of loss aversion and money illusion. People tend to think of transactions in terms of their nominal...... (monetary) values. Real losses may therefore loom larger in people’s minds when they lose money than when real losses are hidden by purely nominal gains. Using a survey experiment with a large and heterogeneous sample, we show that evaluations of housing transactions are systematically biased by purely...

  5. On 'Money' in ISLM and AD/AS Models

    OpenAIRE

    Thomas K. Rymes; Colin Rogers

    2000-01-01

    Hicks's ISLM model interpretation of Keynes's theory is subject to much controversy. In this paper, we focus upon the 'real balance' effect and its role in ISLM and AD/AS analyses. We shall argue that ISLM and AD/AS require 'nominal anchors'. We live in a world where, increasingly, the 'money' in the ISLM and AD/AS model no longer exists (as Keynes imperfectly understood in his TREATISE ON MONEy). There are no longer any nominal anchors, rather they have been replaced by discretionary policy....

  6. The Value of Time and the Transactions Demand for Money.

    OpenAIRE

    Dowd, Kevin

    1990-01-01

    This paper reexamines the hypothesis of Dean S. Dutton and William P. Gramm, and Edi Karni that the wage rate influences the demand for money as a proxy for the value of transactions time. It develops "value of time" transactions models, which yield demand for money equations that have a real wage rate argument, and compares it to a "non value of time" alternative that does not. The author finds that the "value of time" models perform well and that the "value of time" effect is empirically si...

  7. Central bank independence and its effect on money market stability

    OpenAIRE

    MSc. Anera Alishani

    2012-01-01

    Since 1990s many countries have moved toward greater central bank independence (CBI) by either amending their Central Bank’s laws or writing them de novo. Also countries of Western Balkans and many other transition countries have moved toward greater CBI. There are many potential benefits associated with greater CBI, and one of them is stable growth of money and liquidity. For a given level of money market development the hypothesis is that a more independent CB is likely to promote more stab...

  8. Accomplishments of the Oak Ridge National Laboratory Seed Money program

    Energy Technology Data Exchange (ETDEWEB)

    1986-09-01

    In 1974, a modest program for funding new, innovative research was initiated at ORNL. It was called the ''Seed Money'' program and has become part of a larger program, called Exploratory R and D, which is being carried out at all DOE national laboratories. This report highlights 12 accomplishments of the Seed Money Program: nickel aluminide, ion implantation, laser annealing, burn meter, Legionnaires' disease, whole-body radiation counter, the ANFLOW system, genetics and molecular biology, high-voltage equipment, microcalorimeter, positron probe, and atom science. (DLC)

  9. Creation Stories: Myths about the Origin of Money

    OpenAIRE

    Desan, Christine

    2013-01-01

    A myth about the origins of money has long organized modern approaches to the medium. According to that creation story, money is the natural product of human exchange. It can be analogized to a commodity like silver that comes to hand out of the decentralized activity of trading or a convention like language that arises out of a consensus about the value of an item. But if we consider clues about money’s origins and extrapolate from its continuing practice, another story comes into focus. It ...

  10. COGNITIVE RESERVE IN AGING

    Science.gov (United States)

    Tucker, Adrienne M.; Stern, Yaakov

    2011-01-01

    Cognitive reserve explains why those with higher IQ, education, occupational attainment, or participation in leisure activities evidence less severe clinical or cognitive changes in the presence of age-related or Alzheimer’s disease pathology. Specifically, the cognitive reserve hypothesis is that individual differences in how tasks are processed provide reserve against brain pathology. Cognitive reserve may allow for more flexible strategy usage, an ability thought to be captured by executive functions tasks. Additionally, cognitive reserve allows individuals greater neural efficiency, greater neural capacity, and the ability for compensation via the recruitment of additional brain regions. Taking cognitive reserve into account may allow for earlier detection and better characterization of age-related cognitive changes and Alzheimer’s disease. Importantly, cognitive reserve is not fixed but continues to evolve across the lifespan. Thus, even late-stage interventions hold promise to boost cognitive reserve and thus reduce the prevalence of Alzheimer’s disease and other age-related problems. PMID:21222591

  11. HYDROCARBONS RESERVES IN VENEZUELA

    Energy Technology Data Exchange (ETDEWEB)

    Gonzalez Cruz, D.J.

    2007-07-01

    Venezuela is an important player in the energy world, because of its hydrocarbons reserves. The process for calculating oil and associated gas reserves is described bearing in mind that 90% of the gas reserves of Venezuela are associated to oil. Likewise, an analysis is made of the oil reserves figures from 1975 to 2003. Reference is also made to inconsistencies found by international experts and the explanations offered in this respect by the Ministry of Energy and Petroleum (MENPET) and Petroleos de Venezuela (PDVSA) regarding the changes that took place in the 1980s. In turn, Hubbert's Law is explained to determine peak production of conventional oil that a reservoir or field will reach, as well as its relationship with remaining reserves. Emphasis is placed on the interest of the United Nations on this topic. The reserves of associated gas are presented along with their relationship with the different crude oils that are produced and with injected gas, as well as with respect to the possible changes that would take place in the latter if oil reserves are revised. Some recommendations are submitted so that the MENPET starts preparing the pertinent policies ruling reserves. (auth)

  12. Ovarian reserve parameters

    DEFF Research Database (Denmark)

    Bentzen, J G; Forman, Julie Lyng; Pinborg, Anja

    2012-01-01

    2-5 of the menstrual cycle or during withdrawal bleeding, blood sampling and transvaginal sonography was performed. After adjusting for age, ovarian reserve parameters were lower among users than among non-users of hormonal contraception: serum AMH concentration by 29.8% (95% CI 19.9 to 38...... was observed between duration of hormonal-contraception use and ovarian reserve parameters. No dose-response relation was found between the dose of ethinyloestradiol and AMH or AFC. This study indicates that ovarian reserve markers are lower in women using sex steroids for contraception. Thus, AMH...... concentration and AFC may not retain their accuracy as predictors of ovarian reserve in women using hormonal contraception. Serum anti-Müllerian hormone (AMH) concentration is an indirect marker of the number of small follicles in the ovary and thereby the ovarian reserve. The AMH concentration is now widely...

  13. Monetary policy implementation and money demand instability during the financial crisis

    Directory of Open Access Journals (Sweden)

    Svatopluk Kapounek

    2011-01-01

    Full Text Available The author focuses on the money endogeneity in the context of common monetary policy implementation in the euro area. The empirical analysis shows money demand function instability during the financial crisis. The instability is described by decrease in credit money creation and money velocity changes. The cointegration tests identifed long-run positive relationship between monetary aggregates and economic activity. Concurrently, the economic activity is treated to be weakly exogenous in the model.The conclusions are discussed with Postkeynesians’ assumption, that central banks cannot fix the stock of money in a country. The causality is directed from economic activity to money demand.

  14. Skyline Reservation System

    Data.gov (United States)

    US Agency for International Development — Flight reservation application used for in-country flights by USAID and DoS staff in Afghanistan. The application is managed and maintained by the vendor and USAID...

  15. Is time money? Media expenditures in economic and technological turbulence.

    NARCIS (Netherlands)

    McDonald, D.G.; Johnson, B.K.

    2013-01-01

    Recent years have seen changing and shifting technologies as well as an uncertain economic climate. This research focuses on how audiences have reacted to these shifts, using a number of different sources of data to test hypotheses related to spending time and money on media. We suggest that

  16. Energy Management in Higher Education: Value for Money Study.

    Science.gov (United States)

    Scottish Higher Education Funding Council, Edinburgh.

    This Value for Money project provides an update of the 1996 "Energy Management Study in the Higher Education Sector: National Report." It reviews the management arrangement for utilities in the higher education (HE) sector, and it identifies key actions and future issues that must be addressed by HE institutions in developing a strategic…

  17. Macroeconomic Variables and Money Supply: Evidence from Nigeria

    African Journals Online (AJOL)

    Nneka Umera-Okeke

    Economist and finance scholars differ on the relationship between money supply and ... connotes that economic growth stimulate increased financial developments. ... Paper Structure. After this brief introduction, the paper is structured as follows. Section 2 provides a brief theoretical and empirical framework to this study, ...

  18. Hoarders Only Discount Consumables and Are More Patient for Money.

    Science.gov (United States)

    Vickers, Brian D; Preston, Stephanie D; Gonzalez, Richard; Angott, Andrea M

    2016-01-01

    Individuals with hoarding disorder (HD) excessively acquire and retain goods while also exhibiting characteristics of impulsivity and addiction. However, HD individuals do not always perform impulsively in experiments, they do not appear interested in money, and they exhibit many features of risk-aversion and future-planning. To examine impulsivity in HD, we compared validated community participants high and low in hoarding tendencies on questionnaire measures of hoarding and impulsivity as well as a standard experimental measure of impulsivity (intertemporal discounting) that was modified to compare decisions about money, pens, and snacks. Common discounting effects were replicated. Compared to the low hoarding group, the high hoarding group was more impatient for consumables (pens and snacks) but they were more patient for money. This increased patience for money in high hoarding individuals is in contrast to all other studies on discounting in disordered populations, but consistent with the phenomenology of HD. HD does not appear to be driven by a fundamental inability to wait, but rather a specific, potent desire for consumable rewards.

  19. Mobile Money, Trade Credit and Economic Development : Theory and Evidence

    NARCIS (Netherlands)

    Beck, T.H.L.; Pamuk, H.; Uras, R.B.; Ramrattan, R.

    2015-01-01

    Using a novel enterprise survey from Kenya (FinAccess Business), we document a strong positive association between the use of mobile money as a method to pay suppliers and access to trade credit. We develop a dynamic general equilibrium model with heterogeneous entrepreneurs, imperfect credit

  20. When Did The Smart Money in Enron Lose Its' Smirk?

    OpenAIRE

    Bruce Mizrach

    2002-01-01

    The Enron Corporation went from a $65 billion dollar market capitalization to bankruptcy in just 16 months. Using statistical techniques for extracting the implied probability distributions built into option prices, I examine the market's expectation of Enron's risk of collapse. I find that the "smart money" remained far too optimistic about the stock until just weeks before their bankruptcy filing.

  1. Trend of Average Wages as Indicator of Hypothetical Money Illusion

    Directory of Open Access Journals (Sweden)

    Julian Daszkowski

    2010-06-01

    Full Text Available The definition of wage in Poland not before 1998 includes any value of social security contribution. Changed definition creates higher level of reported wages, but was expected not to influence the take home pay. Nevertheless, the trend of average wages, after a short period, has returned to its previous line. Such effect is explained in the term of money illusion.

  2. Promises of Money Meant to Heighten Student Motivation

    Science.gov (United States)

    Ash, Katie

    2008-01-01

    Does motivating students to study harder with the promise of cash sound like innovation--or bribery? That's a question educators and researchers have been debating, amid concerns that money-for-achievement programs actually decrease students' intrinsic motivation to learn and send mixed messages about studying. But the idea is catching on, with…

  3. Income Generation and Money Management: Training Women as Entrepreneurs.

    Science.gov (United States)

    Reed, Sheila

    Based on a workshop in Gambia in 1989, this manual was developed to help Peace Corps workers to develop training techniques for teaching women to run businesses producing and selling local products and to manage money. Topics covered include the following: (1) the role of the facilitator in adult learning; (2) problems women face in controlling…

  4. Pemanfaatan Biometric Fingerprint sebagai Media Pembayaran Transjakarta Berbasis Electronic Money

    OpenAIRE

    Muhajir, Ahmad; Ristiyanti, Lia; Harsono, Shabrina Utami

    2017-01-01

    Penelitian ini bertujuan untuk mengetahui pemanfaatan lain dari sidik jari sebagaialternative media pembayaran berbasis uang elektronik pada Transjakarta. Penggunaan sidik jaridipilih karena sidik jari merupakan identitas manusia yang tidak dapat diganti atau dirubah. Padapenelitian ini menggunakan Deskriptif Studies karena bertujuan untuk memberikan gambaransecara sistematis dan akurat mengenai Pemanfaatan Biometric Fingerprint sebagai mediapemabayaran Transjakarta berbasis E-Money. Dalam me...

  5. Money in the bank : Feeling powerful increases saving

    NARCIS (Netherlands)

    Garbinsky, E.; Klesse, A.K.; Aaker, J.

    2014-01-01

    Across five studies, this research reveals that feeling powerful increases saving. This effect is driven by the desire to maintain one’s current state. When the purpose of saving is no longer to accumulate money but to spend it on a status-related product, the basic effect is reversed, and those who

  6. Online public response to Dutch news about money laundering

    NARCIS (Netherlands)

    Veul, Romy; van Charldorp, T.C.; Soudijn, Melvin

    2016-01-01

    In this paper we analyze how Dutch Public Prosecution’s press releases about money laundering and underground banking are received by producers and consumers of online news reports. First we take a closer look at how journalists (re)framed six official press releases in 75 news reports. It turns out

  7. Using MSN Money to Perform Financial Ratio Analysis

    Science.gov (United States)

    Hsu, H. Christine

    2010-01-01

    In today's information technology world, real time financial data is readily available via many financial websites, such as MSN Money, Google Finance, Yahoo Finance, etc. The incorporation of computer technology in finance classes has become more popular than ever in this information technology rich environment. Mediated classrooms have rapidly…

  8. Illicit Drug Trade, Black Money and Society in Western Amazon

    Directory of Open Access Journals (Sweden)

    Ali Akbar Sharifi

    2003-11-01

    Well-known families which have relations not only with criminal organizations but also with police forces, control cocaine market and obtain huge wealth which spreads their power and influence over this state. In this article, the author reviews the effects of cocaine trade on emerging black money as well as the influnce of criminal groups over society.

  9. Having the Blues : Money Laundering in Professional Football

    NARCIS (Netherlands)

    Nelen, Hans; Nelen, Hans; Siegel, Dina

    2017-01-01

    The central theme of this contribution is money laundering in professional football. First, it is clarified why the professional football sector is so appealing to persons and organisations for laundering their criminally acquired assets. Then it is examined how these risks have materialised in

  10. Differential time preferences for money and quality of life

    NARCIS (Netherlands)

    Parouty, M. B. Y.; Le, Hoa; Krooshof, D.; Postma, M. J.

    Background This study provides an empirical investigation into differential time preferences between money and quality of life. Thus far, time preference investigations in health have mostly involved life-years gained and lives saved. However, the quality-adjusted life-year, which is recommended by

  11. Public-Private Partnerships : Risk Allocation and Value for Money

    NARCIS (Netherlands)

    Miranda Sarmento, J.; Renneboog, L.D.R.

    This paper reviews the literature on the allocation and valuation of public-private partnerships (PPPs). First, the paper discusses why governments pursue PPPs and how value for money (VfM) is achieved. Second, the paper reviews the principles of risk allocation and valuation from an academic and

  12. Public-Private Partnerships : Risk Allocation and Value for Money

    NARCIS (Netherlands)

    Miranda Sarmento, J.; Renneboog, L.D.R.

    2014-01-01

    This paper reviews the literature on the allocation and valuation of public-private partnerships (PPPs). First, the paper discusses why governments pursue PPPs and how value for money (VfM) is achieved. Second, the paper reviews the principles of risk allocation and valuation from an academic and

  13. Money Enhances Memory Consolidation--But Only for Boring Material

    Science.gov (United States)

    Murayama, Kou; Kuhbandner, Christof

    2011-01-01

    Money's ability to enhance memory has received increased attention in recent research. However, previous studies have not directly addressed the time-dependent nature of monetary effects on memory, which are suggested to exist by research in cognitive neuroscience, and the possible detrimental effects of monetary rewards on learning interesting…

  14. A small-open-economy model and endogeous money stock

    Czech Academy of Sciences Publication Activity Database

    Kodera, Jan; Sladký, Karel; Vošvrda, Miloslav

    2005-01-01

    Roč. 13, č. 1 (2005), s. 27-34 ISSN 0572-3043 R&D Projects: GA ČR GA402/03/1292; GA AV ČR IAA7075202 Institutional research plan: CEZ:AV0Z10750506 Keywords : non-linear dynamic model * money market dynamics * uncovered interest rate parity Subject RIV: AH - Economics

  15. The Impact of the LCR on the Interbank Money Market

    NARCIS (Netherlands)

    Bonner, C.; Eijffinger, S.C.W.

    2012-01-01

    Abstract: This paper analyses the impact of the Basel 3 Liquidity Coverage Ratio (LCR) on the unsecured interbank money market and therefore on the implementation of monetary policy. Combining two unique datasets, we show that banks which are just above/below their short-term regulatory liquidity

  16. The Impact of the LCR on the Interbank Money Market

    NARCIS (Netherlands)

    Bonner, C.; Eijffinger, S.C.W.

    2012-01-01

    This paper analyses the impact of the Basel 3 Liquidity Coverage Ratio (LCR) on the unsecured interbank money market and therefore on the implementation of monetary policy. Combining two unique datasets, we show that banks which are just above/below their short-term regulatory liquidity requirement

  17. Teaching Time Value of Money Using an Excel Retirement Model

    Science.gov (United States)

    Arellano, Fernando; Mulig, Liz; Rhame, Susan

    2012-01-01

    The time value of money (TVM) is required knowledge for all business students. It is traditionally taught in finance and accounting classes for use in various applications in the business curriculum. These concepts are also very useful in real life situations such as calculating the amount to save for retirement. This paper details a retirement…

  18. Security of Electronic Payment Systems Based on Digital Money

    Directory of Open Access Journals (Sweden)

    A. B. Vavrenyuk

    2011-12-01

    Full Text Available Electronic payment systems based on digital money are evaluated in terms of information protection. Mechanisms of protection of interests of bank-emitter, buyer and seller are described. Course of life of a digital denomination is resulted: transactions of removal from the account, purchase and transfer into the account.

  19. Money Supply, Interest Rate, and Economic Growth in Cameroon: A ...

    African Journals Online (AJOL)

    ... expansionary monetary policy in Cameroon. This work therefore recommends guided expansionary monetary policy as an instrument for growth and development in Cameroon in particular and the CEMAC zone in general. Key words: Dynamic, Money Supply, Interest Rates, Economic growth, Co-integration and Inflation.

  20. Rapport: The Value for Money Discourse: Risks and Opportunities ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    optimisation des ressources exerce également une influence croissante sur ce qui revêt de l'importance pour les bailleurs de fonds. Le rapport The Value for Money Discourse: Risks and Opportunities for R4D a pour but de ...

  1. Equilibrium Price Dispersion in a Matching Model with Divisible Money

    NARCIS (Netherlands)

    Kamiya, K.; Sato, T.

    2002-01-01

    The main purpose of this paper is to show that, for any given parameter values, an equilibrium with dispersed prices (two-price equilibrium) exists in a simple matching model with divisible money presented by Green and Zhou (1998).We also show that our two-price equilibrium is unique in certain

  2. Naipes (axe moneys: a pre-Hispanic currency in Peru

    Directory of Open Access Journals (Sweden)

    John F. Merkel

    1998-11-01

    Full Text Available Between AD 900 and 1100 in northern Peru, high-status members of the Middle Siccin culture were buried in large tombs accompanied by elaborate grave goods that included gold, silver and copper objects, and also pieces of sheet metal known as naipes. Metallurgical study of naipes at the Institute supports the view that they were a form of "primitive money".

  3. Eastern European financial systems : the creation of inside money

    NARCIS (Netherlands)

    Perotti, E.C.

    1993-01-01

    This paper offers a classification of credit markets in transition economies. It describes a continuum of systems by identifying its polar cases: countries where the entire financial system still relies on outside money, mostly republics of the former Soviet Union; and those where a more

  4. The Money-Creation Model: An Alternative Pedagogy.

    Science.gov (United States)

    Thornton, Mark; And Others

    1991-01-01

    Presents a teaching model that is consistent with the traditional approach to demonstrating the expansion and contraction of the money supply. Suggests that the model provides a simple and convenient visual image of changes in the monetary system. Describes the model as juxtaposing the behavior of the moneyholding public with that of the…

  5. 17 CFR 270.2a-7 - Money market funds.

    Science.gov (United States)

    2010-04-01

    ... Entity”), and the securities that it issues (other than securities issued to a company that controls, or... the securities. (7) Portfolio Lending Agreements. A portfolio lending agreement shall be treated as... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Money market funds. 270.2a-7...

  6. Hoarders Only Discount Consumables and are More Patient for Money

    Directory of Open Access Journals (Sweden)

    Brian Donald Vickers

    2016-03-01

    Full Text Available Individuals with hoarding disorder (HD excessively acquire and retain goods while also exhibiting characteristics of impulsivity and addiction. However, HD individuals do not always perform impulsively in experiments, they do not appear interested in money, and they exhibit many features of risk-aversion and future-planning. To examine impulsivity in HD, we compared validated community participants high and low in hoarding tendencies on questionnaire measures of hoarding and impulsivity as well as a standard experimental measure of impulsivity (intertemporal discounting that was modified to compare decisions about money, pens, and snacks. Common discounting effects were replicated. Compared to the low hoarding group, the high hoarding group was more impatient for consumables (pens and snacks but they were more patient for money. This increased patience for money in high hoarding individuals is in contrast to all other studies on discounting in disordered populations, but consistent with the phenomenology of HD. HD does not appear to be driven by a fundamental inability to wait, but rather a specific, potent desire for consumable rewards.

  7. Show Me the Money! Neoliberalism at Work in Education

    Science.gov (United States)

    Ball, Stephen J.

    2012-01-01

    Neoliberalism is often addressed by commentators and critics as a set of ideas or a doctrine. This article considers neoliberalism as a set of financial practices and exchanges--as about money and profit--and goes on to suggest that as practitioners, researchers, activists we need to understand and engage with that logic and its mechanisms.…

  8. A Survey of Ten Money and Banking Textbooks.

    Science.gov (United States)

    Amsler, Christine E.

    1985-01-01

    Ten college-level money and banking textbooks were arrayed along six continua representing professors' major preferences when choosing a text. The continua topics are theoretical approach, complexity of presentation, theory/institution mix, nuts and bolts explanations, organizational approach, and writing style. (RM)

  9. Virginity, Sex, Money and Desire: Premarital Sexual Behaviour of ...

    African Journals Online (AJOL)

    AJRH Managing Editor

    Virginity, Sex, Money and Desire. African Journal of ... Amsterdam, The Netherlands; Department of Health Promotion, CAPHRI, School for Public Health and Primary Care, ..... Sexual activities take place on those events in hidden places. Sex is an important aspect in boyfriend– girlfriend relationships. Both male and female.

  10. 29 CFR 501.19 - Civil money penalty assessment.

    Science.gov (United States)

    2010-07-01

    ... the loss of all or part of an arm, leg, foot, hand or other body part; or (iii) Permanent paralysis or substantial impairment that causes loss of movement or mobility of an arm, leg, foot, hand or other body part... investigation shall not exceed $5,000 per investigation. (e) A civil money penalty for laying off or displacing...

  11. Central Bank Autonomy, The Money Stock And Price Developments ...

    African Journals Online (AJOL)

    This artcle uses on econometric model to analyse central bank policy on the money stock and prices by investigating the relationship among the components of the balance sheet using data from the BOT spanning from 1986 to 2001. The results indicate that the behavior of the BOTs balance sheet has strong implications of ...

  12. Regulating Money Laundering and Tax Havens: The Role of Blacklisting

    NARCIS (Netherlands)

    Unger, B.; Ferwerda, J.

    Since ten years, and more so, since September 11, 2001, international organizations such as the IMF, OECD and EU try to combat harmful tax competition, money laundering and terrorist financing. Blacklisting, the naming and shaming of uncooperative countries, was one of the strategies used from the

  13. MONEY LAUNDERING OR LAUNDERING OF THE PROCEEDS OF CRIME?

    Directory of Open Access Journals (Sweden)

    ANA ALINA DUMITRACHE

    2011-04-01

    Full Text Available This paper aims to analyses which of the phrases money laundering or laundering the proceeds of crime is more appropriate to describe the crime provided by art. 23 of Law no. 656/2002 on prevention and sanctioning money laundering, as well as for setting up some measures for prevention and combating terrorism financing. In this respect, the article includes a survey of the important international documents in this matters ratified by Romania - United Nations Vienna Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (the Vienna Convention, the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds of Crime, The United Nations Convention against Transnational Organized Crime,Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism. To remove any ambiguities arising from the approach of the money laundering concept and to reach a conclusion, there are also presented the controversial views regarding the use of the expression money laundering in both Title and content of Law, views expressed in specialized literature.

  14. 31 CFR 103.120 - Anti-money laundering program requirements for financial institutions regulated by a Federal...

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering program... Laundering Programs Anti-Money Laundering Programs § 103.120 Anti-money laundering program requirements for... anti-money laundering program that complies with the requirements of §§ 103.176 and 103.178 and the...

  15. "Negative of My Money, Positive of Her Money": Secondary Students' Ways of Relating Equations to a Debt Context

    Science.gov (United States)

    Whitacre, Ian; Pierson Bishop, Jessica; Lamb, Lisa L.; Philipp, Randolph A.; Bagley, Spencer; Schappelle, Bonnie P.

    2015-01-01

    We interviewed 40 students each in grades 7 and 11 to investigate their integer-related reasoning. In one task, the students were asked to write and interpret equations related to a story problem about borrowing money from a friend. All the students solved the story problem correctly. However, they reasoned about the problem in different ways.…

  16. Money-in-the-Utility-Function: Model Simulations and Money Demand Estimation in the Case of the Republic of Macedonia

    Directory of Open Access Journals (Sweden)

    Ivanov Mile

    2015-03-01

    Full Text Available This paper aims to reassess and analyze the dynamic interactions between money, prices and economic activity in the case of the Republic of Macedonia. The first part of the paper simulates the property of the superneutrality of money, based on Sidrauski’s (1967 framework. The second part presents the money demand estimations on the monetary aggregate M2 for the period from 2002 to 2012, using the cointegration approach. Following Cziráky and Gillman (2006, we examine the validity of the Fisher equation in the case of Macedonia. The Fisher equation does not hold in the case of Macedonia, so the inflation rate must be included in the money demand specification. The estimated cointegration equation is in line with economic theory. The cointegration equation shows income elasticity less than unity (0,81, small and negative interest rate semi-elasticity (-0.17 and negative elasticity with respect to inflation. The short-run dynamics reveal that only 2,70% of the disequilibrium is corrected in a single quarter. The properties of stability imply that the M2 aggregate may serve as a proper policy indicator.

  17. Handbook on loss reserving

    CERN Document Server

    Schmidt, Klaus; Schnaus, Anja

    2016-01-01

    This handbook presents the basic aspects of actuarial loss reserving. Besides the traditional methods, it also includes a description of more recent ones and a discussion of certain problems occurring in actuarial practice, like inflation, scarce data, large claims, slow loss development, the use of market statistics, the need for simulation techniques and the task of calculating best estimates and ranges of future losses. In property and casualty insurance the provisions for payment obligations from losses that have occurred but have not yet been settled usually constitute the largest item on the liabilities side of an insurer's balance sheet. For this reason, the determination and evaluation of these loss reserves is of considerable economic importance for every property and casualty insurer. Actuarial students, academics as well as practicing actuaries will benefit from this overview of the most important actuarial methods of loss reserving by developing an understanding of the underlying stochastic models...

  18. Lithium reserves and resources

    International Nuclear Information System (INIS)

    Evans, R.K.

    1978-01-01

    As a result of accelerating research efforts in the fields of secondary batteries and thermonuclear power generation, concern has been expressed in certain quarters regarding the availability, in sufficient quantities, of lithium. As part of a recent study by the National Research Council on behalf of the Energy Research and Development Administration, a subpanel was formed to consider the outlook for lithium. Principal areas of concern were reserves, resources and the 'surplus' available for energy applications after allowing for the growth in current lithium applications. Reserves and resources were categorized into four classes ranging from fully proved reserves to resources which are probably dependent upon the marketing of co-products to become economically attractive. Because of the proprietary nature of data on beneficiation and processing recoveries, the tonnages of available lithium are expressed in terms of plant feed. However, highly conservative assumptions have been made concerning mining recoveries and these go a considerable way to accounting for total losses. Western World reserves and resources of all classes are estimated at 10.6 million tonnes Li of which 3.5 million tonnes Li are located in the United States. Current United States capacity, virtually equivalent to Western World capacity, is 4700 tonnes Li and production in 1976 approximated to 3500 tonnes Li. Production for current applications is expected to grow to approx. 10,000 tonnes in year 2000 and 13,000 tonnes a decade later. The massive excess of reserves and resources over that necessary to support conventional requirements has limited the amount of justifiable exploration expenditures; on the last occasion, there was a a major increase in demand (by the USAEA) reserves and capacity were increased rapidly. There are no foreseeable reasons why this shouldn't happen again when the need is clear. (author)

  19. Linking Consumer Debt and Consumer Expenditures: Do Borrowers Spend Money Differently?

    Science.gov (United States)

    Fan, Jessie X.

    2000-01-01

    Data from 5,174 households were analyzed to investigate differences in spending patterns between households who borrow money and those who do not. Findings indicate that borrowers spend less money on necessities and more on luxury commodities. (JOW)

  20. Anti-money laundering regulations and the effective use of mobile ...

    African Journals Online (AJOL)

    money laundering preventative measures by means of the Financial Intelligence Centre Act 38 of 2001, there exists no South African legislation explicitly concerned with mobile money. It is therefore difficult to determine what the regulatory stance ...

  1. The theory of endogenous money and the LM schedule: prelude to a reconstruction of ISLM

    Directory of Open Access Journals (Sweden)

    THOMAS I. PALLEY

    Full Text Available ABSTRACT Money is at the center of macroeconomics, which makes understanding the money supply central for macroeconomic theory. This paper presents the Post Keynesian theory of endogenous money supply and shows how it is fundamentally different from the conventional money supply theory. The conventional approach relies on the money multiplier and bank lending is invisible. Post Keynesian theory discards the money multiplier and focuses on bank lending which drives money creation. The paper emphasizes the structuralist version of Post Keynesian theory which retains Keynes’ liquidity preference theory of long term interest rates and also recognizes banks are subject to financial constraints that limit their lending activities. The paper then shows how to derive the LM schedule in an endogenous money economy, which is a necessary prelude to reconstructing the ISLM model.

  2. SUIKERBOSRAND NATURE RESERVE

    African Journals Online (AJOL)

    Suikerbosrand Nature Reserve and fts educational facilities are run by the Transvaal. Division of. Nature Conservation. ... tion and the education facilities provided. The former are utilized mainly by the general public ... artist Paul Bosman (already reviewed in the EEASA newsletter). The co-founders of the Foundation are.

  3. Session 7: Reserve

    International Nuclear Information System (INIS)

    Bailey, R.; Crockford, G.

    2001-01-01

    The reserve session was devoted to some issues that came up through the workshop, which were grouped into three main areas: The Global Accelerator Network, Problems of stress and how to get organized to minimize them, What should an operations group be responsible for? This paper summarizes the discussions that took place. (author)

  4. School Shootings Stun Reservation

    Science.gov (United States)

    Borja, Rhea R.; Cavanagh, Sean

    2005-01-01

    This article deals with the impact brought by the school shootings at Red Lake Indian Reservation in Minnesota to the school community. A deeply troubled 16-year-old student shot and killed seven other people and himself at a high school. The nation's deadliest school attack since the 1999 slayings at Colorado's suburban Columbine High School took…

  5. SUIKERBOSRAND NATURE RESERVE

    African Journals Online (AJOL)

    reserve, the total length being 66 km with six overnight huts. There are also the BokmakiePie. Nature Troil. and the Cheetah Interpretive Troil. which can be used by day visitors. The former has two loops, one of 10 km and another of 17 km. The. Cheetah Troil. is much shorter and various points of interest are interpreted en ...

  6. Endogenous Money, Non-neutrality and Interest-sensitivity in the Theory of Long Period Unemployment

    OpenAIRE

    Peter Docherty

    2006-01-01

    This paper investigates the role played by endogenous money in models with interest-sensitive expenditures. In particular, it examines the impact of endogenous money on a baseline neoclassical model arguing against the frequently asserted claim that traditional neoclassical macroeconomics is compatible with endogenous money. It demonstrates firstly that endogenous money is a sufficient condition to render unstable a neoclassical model characterised by interest-sensitive expenditures, full emp...

  7. Thailand; Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

    OpenAIRE

    International Monetary Fund

    2007-01-01

    This Detailed Assessment Report focuses on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Thailand. The report discusses that Thailand has a legal framework in the Anti-Money Laundering Act 1999 (AMLA) around which the core elements of its AML/CFT regime are established. The AMLA criminalizes money laundering by reference to eight predicate offenses and establishes the Anti-Money Laundering Office (AMLO) as Thailand’s financial intelligence unit. It imposes some ...

  8. Monetary policy implementation and money demand instability during the financial crisis

    OpenAIRE

    Svatopluk Kapounek

    2011-01-01

    The author focuses on the money endogeneity in the context of common monetary policy implementation in the euro area. The empirical analysis shows money demand function instability during the financial crisis. The instability is described by decrease in credit money creation and money velocity changes. The cointegration tests identifed long-run positive relationship between monetary aggregates and economic activity. Concurrently, the economic activity is treated to be weakly exogenous in the ...

  9. The effect of earned versus house money on price bubble formation in experimental asset markets

    OpenAIRE

    Corgnet, Brice; Hernán-González, Roberto; Kujal, Praveen; Porter, David

    2014-01-01

    Does house money exacerbate price bubbles? We compare house money asset market experiments with an earned money treatment where initial portfolios are constructed from a real effort task. Bubbles occur; however, trading volumes and earnings dispersion are significantly higher with house money. We investigate the role of cognitive ability in accounting for the differences in earnings distribution across treatments by using the cognitive reflection test (CRT). Low CRT subjects earned less than ...

  10. Deflation Expectation Financial System and Decline in Money Multiplier(in Japanese)

    OpenAIRE

    IIDA Yasuyuki

    2005-01-01

    The money multiplier is in a continuous downward trend now since the bubble burst, and, in addition, the trend has accelerated after 2000. It is said that the monetary policy is difficult because the money multiplier has declined. To think about the monetary policy for the future, we should think about the cause of the decline of the money multiplier. I want to verify two typical hypotheses "Deflation Expectation Hypothesis" and "Financial System Hypothesis" for the decision of the money mult...

  11. Money demand in post-crisis Russia: De-dollarisation and re-monetisation

    OpenAIRE

    Korhonen, Iikka; Mehrotra, Aaron

    2007-01-01

    Estimating money demand functions for Russia following the 1998 crisis, we find a stable money demand relationship when augmented by a deterministic trend signifying falling velocity. As predicted by theory, higher income boosts demand for real rouble balances and the income elasticity of money is close to unity. Inflation affects the adjustment towards equilibrium, while broad money shocks lead to higher inflation. We also show that exchange rate fluctuations have a considerable influence on...

  12. Money Laundering Detection Framework to Link the Disparate and Evolving Schemes

    OpenAIRE

    Murad Mehmet; Miguel Fuentes Buchholtz

    2013-01-01

    Money launderers hide traces of their transactions with the involvement of entities that participate in sophisticated schemes. Money laundering detection requires unraveling concealed connections among multiple but seemingly unrelated human money laundering networks, ties among actors of those schemes, and amounts of funds transferred among those entities. The link among small networks, either financial or social, is the primary factor that facilitates money laundering. Hence, the analysis of...

  13. Keynes's theories of money and banking in the Treatise and The General Theory

    OpenAIRE

    John Smithin

    2013-01-01

    This paper identifies what seem to have been the five main issues in contention in monetary theory, both historically and in the current era, and discusses the view that J.M. Keynes took on each of them in the Treatise on Money and The General Theory. The key issues in monetary theory are the ontology of money, endogenous versus exogenous money, interest-rate determination, the choice of the monetary policy instrument, and the neutrality versus non-neutrality of money.

  14. VIEWS REGARDING THE ORGANIZATION OF THE ACTIVITIES RELATEDTO THE PREVENTION AND COMBAT AGAINST MONEY LAUNDERING

    OpenAIRE

    DUMITRESCU Serju; AVRAM Marioara

    2012-01-01

    The present paper tries to render different aspects of money laundering in Romania according to the present legislation. We have tried to identify several aspects related to this issue such as: the sequences of the money laundering process, the entities having reporting obligations, the duties of the persons in charge with the prevention & combat against money laundering, report deadlines, different types of reporting which have to be done to the Money Laundering Department , the contraventio...

  15. A framework to investigate money attitudes and materialism

    Directory of Open Access Journals (Sweden)

    H. Duh

    2011-12-01

    Full Text Available Purpose and/or objectives: This paper presents a framework to investigate money attitudes and materialistic values. The conceptualization of the framework is guided by a critical review of literature. The intention is to provide a framework that will be useful to examine how various childhood family experiences influence later-life consumption orientations. Problem investigated: The differences in family resources represent one of the biggest distinctions between an intact and a disrupted family. The underlining question is whether children raised in disrupted families will experience lower levels of family resources (economic and emotional and find the experience stressful. If so, will these experiences influence them to adopt conservative money attitudes and be less materialistic or will they symbolically value money and be more materialistic? Design/methodology/approach: The development of a framework requires a critical review of secondary sources. The literature review is based on theories that provide an explanation of how childhood family experiences can affect the development of materialistic values and money attitudes. The secondary sources require careful scrutiny of journal articles, dissertations and essays in a number of libraries to provide more scholarly insight into the concepts and to assist in the conceptualisation of the framework. Findings and/or implications: Four main theories were found useful in conceptualizing the framework. They are Ryan and Deci's (2000 self-determination theory, Maslow's (1943 human need theory, Wicklund and Gollwitzer's (1982 symbolic self-completion theory and the life course theory contextualized by Moschis (2007. However, in line with Moschis' (2007 realization, the perspectives of the life course theory were found to be multi-disciplinary, multi-theoretical and thus innovative. They would therefore form the main theoretical guide for the design of the framework. Originality and/or value of the

  16. The Emergy of Money Ratio of the United States from 1990 to 2007

    Science.gov (United States)

    The emergy to money ratio of a system is a key index used in emergy evaluations, because it represents the buying power of money and it can be used as an estimator of the average value of human service. Since both the material and energy inputs to societies and the money circulat...

  17. 45 CFR 150.305 - Determination of entity liable for civil money penalty.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 1 2010-10-01 2010-10-01 false Determination of entity liable for civil money... With Respect to Issuers and Non-Federal Governmental Plans-Civil Money Penalties § 150.305 Determination of entity liable for civil money penalty. If a failure to comply is established under this Part...

  18. 50 CFR 84.40 - What conditions must I follow to accept Federal grant money?

    Science.gov (United States)

    2010-10-01

    ... Federal grant money? 84.40 Section 84.40 Wildlife and Fisheries UNITED STATES FISH AND WILDLIFE SERVICE... COASTAL WETLANDS CONSERVATION GRANT PROGRAM Conditions on Acceptance/Use of Federal Money § 84.40 What conditions must I follow to accept Federal grant money? (a) The audit requirements for State and local...

  19. 17 CFR 270.30b1-7 - Monthly report for money market funds.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Monthly report for money... money market funds. (a) Report. Every registered open-end management investment company, or series thereof, that is regulated as a money market fund under § 270.2a-7 must file with the Commission a monthly...

  20. 26 CFR 1.305-2 - Distributions in lieu of money.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Distributions in lieu of money. 1.305-2 Section... (CONTINUED) INCOME TAXES Effects on Recipients § 1.305-2 Distributions in lieu of money. (a) In general... whether a distribution shall be made either in money or any other property, or in stock or rights to...

  1. 7 CFR 1610.6 - Concurrent Bank and RUS cost-of-money loans.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Concurrent Bank and RUS cost-of-money loans. 1610.6..., DEPARTMENT OF AGRICULTURE LOAN POLICIES § 1610.6 Concurrent Bank and RUS cost-of-money loans. (a) The Bank makes loans, under section 408 of the Act, concurrently with RUS cost-of-money loans made under section...

  2. 42 CFR 3.402 - Basis for a civil money penalty.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false Basis for a civil money penalty. 3.402 Section 3... money penalty. (a) General rule. A person who discloses identifiable patient safety work product in knowing or reckless violation of the confidentiality provisions shall be subject to a civil money penalty...

  3. 26 CFR 301.6311-1 - Payment by check or money order.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 18 2010-04-01 2010-04-01 false Payment by check or money order. 301.6311-1... by check or money order. (a) Authority to receive—(1) In general. (i) District directors, Service... District of Columbia, or any possession of the United States, or money orders in payment for internal...

  4. 27 CFR 70.61 - Payment by check or money order.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Payment by check or money... Collection of Excise and Special (Occupational) Tax Receipt of Payment § 70.61 Payment by check or money... State, Territory, or possession of the United States, or money orders in payment for internal revenue...

  5. 50 CFR 86.74 - What if I need more money?

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 6 2010-10-01 2010-10-01 false What if I need more money? 86.74 Section...) PROGRAM How States Manage Grants § 86.74 What if I need more money? Funds for grants are available only on a competitive basis. Therefore, if you need more money, you must compete in the next grant cycle. ...

  6. 24 CFR 30.80 - Factors in determining amount of civil money penalty.

    Science.gov (United States)

    2010-04-01

    ... civil money penalty. 30.80 Section 30.80 Housing and Urban Development Office of the Secretary, Department of Housing and Urban Development CIVIL MONEY PENALTIES: CERTAIN PROHIBITED CONDUCT Procedures § 30.80 Factors in determining amount of civil money penalty. After determining that a respondent has...

  7. 48 CFR 52.215-17 - Waiver of Facilities Capital Cost of Money.

    Science.gov (United States)

    2010-10-01

    ... Capital Cost of Money. 52.215-17 Section 52.215-17 Federal Acquisition Regulations System FEDERAL... Provisions and Clauses 52.215-17 Waiver of Facilities Capital Cost of Money. As prescribed in 15.408(i), insert the following clause: Waiver of Facilities Capital Cost of Money (OCT 1997) The Contractor did not...

  8. 17 CFR 270.22e-3 - Exemption for liquidation of money market funds.

    Science.gov (United States)

    2010-04-01

    ... money market funds. 270.22e-3 Section 270.22e-3 Commodity and Securities Exchanges SECURITIES AND... for liquidation of money market funds. (a) Exemption. A registered open-end management investment company or series thereof (“fund”) that is regulated as a money market fund under § 270.2a-7 is exempt...

  9. 42 CFR 422.750 - Types of intermediate sanctions and civil money penalties.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 3 2010-10-01 2010-10-01 false Types of intermediate sanctions and civil money... § 422.750 Types of intermediate sanctions and civil money penalties. (a) The following intermediate... organization. (b) CMS may impose civil money penalties as specified in 422.760. [72 FR 68725, Dec. 5, 2007, as...

  10. 24 CFR 1007.70 - Disqualification of lenders and civil money penalties.

    Science.gov (United States)

    2010-04-01

    ... civil money penalties. 1007.70 Section 1007.70 Housing and Urban Development Regulations Relating to....70 Disqualification of lenders and civil money penalties. (a) In general—(1) Grounds for action. HUD... or holder that are guaranteed under this part. (b) Civil money penalties for intentional violations...

  11. 11 CFR 111.39 - When must the respondent pay the civil money penalty?

    Science.gov (United States)

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false When must the respondent pay the civil money... (2 U.S.C. 437g, 437d(a)) Administrative Fines § 111.39 When must the respondent pay the civil money... States, the respondent must remit payment of the civil money penalty within thirty (30) days of receipt...

  12. 45 CFR 160.402 - Basis for a civil money penalty.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 1 2010-10-01 2010-10-01 false Basis for a civil money penalty. 160.402 Section... RELATED REQUIREMENTS GENERAL ADMINISTRATIVE REQUIREMENTS Imposition of Civil Money Penalties § 160.402 Basis for a civil money penalty. (a) General rule. Subject to § 160.410, the Secretary will impose a...

  13. 45 CFR 150.301 - General rule regarding the imposition of civil money penalties.

    Science.gov (United States)

    2010-10-01

    ... money penalties. 150.301 Section 150.301 Public Welfare DEPARTMENT OF HEALTH AND HUMAN SERVICES... Enforcement With Respect to Issuers and Non-Federal Governmental Plans-Civil Money Penalties § 150.301 General rule regarding the imposition of civil money penalties. If any health insurance issuer that is subject...

  14. 12 CFR 622.55 - Notice of assessment of civil money penalty.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Notice of assessment of civil money penalty... PRACTICE AND PROCEDURE Rules and Procedures for Assessment and Collection of Civil Money Penalties § 622.55 Notice of assessment of civil money penalty. (a) Notice of assessment. The notice of assessment for a...

  15. 45 CFR 234.11 - Assistance in the form of money payments.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 2 2010-10-01 2010-10-01 false Assistance in the form of money payments. 234.11... FINANCIAL ASSISTANCE TO INDIVIDUALS § 234.11 Assistance in the form of money payments. (a) Federal financial participation is available in money payments made under a State plan under title I, IV-A, X, XIV, or XVI of the...

  16. 42 CFR 488.430 - Civil money penalties: Basis for imposing penalty.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 5 2010-10-01 2010-10-01 false Civil money penalties: Basis for imposing penalty... PROCEDURES Enforcement of Compliance for Long-Term Care Facilities with Deficiencies § 488.430 Civil money penalties: Basis for imposing penalty. (a) CMS or the State may impose a civil money penalty for either the...

  17. Money Overhang, Credit Overhang and Financial Imbalances in the Euro Area

    NARCIS (Netherlands)

    Kool, C.J.M.; de Regt, E.; van Veen, T.

    2014-01-01

    This paper focusses on the relation between external imbalances and domestic money and credit growth in the euro area. We compute money and credit overhang both for the euro area as a whole and for individual member countries. Our results show that both aggregate money and credit overhang have

  18. 76 FR 15105 - Medicare and Medicaid Programs; Civil Money Penalties for Nursing Homes

    Science.gov (United States)

    2011-03-18

    ... harm, or resulting in a resident's death is not eligible for the civil money penalty reduction that... the death of a resident; and, the civil money penalty was not imposed for a repeated deficiency that... Medicare and Medicaid Services 42 CFR Part 488 Medicare and Medicaid Programs; Civil Money Penalties for...

  19. 78 FR 36833 - Money Market Fund Reform; Amendments to Form PF

    Science.gov (United States)

    2013-06-19

    ... Value 1. Certain Considerations Relating to the Floating NAV Proposal 2. Money Market Fund Pricing 3... Amendments Related to Liquidity Fees and Gates 3. Compliance Period for Other Amendments to Money Market Fund... their value based on current market factors.\\7\\ The penny rounding method of pricing permits a money...

  20. Money Price Relationship under the Currency Board System: The Case of Argentina

    OpenAIRE

    Selahattin Togay; Nezir Kose

    2009-01-01

    In this study, the endogenous money hypothesis is examined for the Argentinean economy employing exogeneity tests by using monthly data for the time period 1991-2001 within the frame of money and price relationship in a Currency Board-like system. Empirical results support the hypothesis which suggests that money supply is endogenous.

  1. Seeing Green: Mere Exposure to Money Triggers a Business Decision Frame and Unethical Outcomes

    Science.gov (United States)

    Kouchaki, Maryam; Smith-Crowe, Kristin; Brief, Arthur P.; Sousa, Carlos

    2013-01-01

    Can mere exposure to money corrupt? In four studies, we examined the likelihood of unethical outcomes when the construct of money was activated through the use of priming techniques. The results of Study 1 demonstrated that individuals primed with money were more likely to demonstrate unethical intentions than those in the control group. In Study…

  2. Authors: M Kersop and SF du Toit ANTI-MONEY LAUNDERING ...

    African Journals Online (AJOL)

    Marike Kersop

    types of service providers as crucial partners,79 depending on the business model and technology which is employed.80 Mobile money is an ever-expanding service, and as such, it is continually furthering financial inclusion.81. 2.3 Nature and characteristics of mobile money82. Mobile money services make provision for ...

  3. The money trail: a new historiography for networks, patronage and scientific careers

    DEFF Research Database (Denmark)

    Andersen, Casper; Bek-Thomsen, Jakob; Kjærgaard, Peter C.

    2012-01-01

    Money is everywhere in science. Yet, historians have only rarely placed the money trail at the centre of their analyses. The articles in this focus section demonstrate that following the money offers a historiographical path for investigating a number of key issues across disciplinary boundaries ...

  4. 77 FR 16319 - Proposed Renewal; Comment Request; Anti-Money Laundering Programs for Various Financial Institutions

    Science.gov (United States)

    2012-03-20

    ...; Anti-Money Laundering Programs for Various Financial Institutions AGENCY: Financial Crimes Enforcement... certain insurance companies to develop and implement written anti-money laundering programs reasonably designed to prevent those financial institutions from being used to facilitate money laundering and the...

  5. 75 FR 11207 - Policy Statement on Obtaining and Retaining Beneficial Ownership Information for Anti-Money...

    Science.gov (United States)

    2010-03-10

    ... Retaining Beneficial Ownership Information for Anti-Money Laundering Purposes AGENCY: Securities and...-money laundering purposes. DATES: Effective Date: March 5, 2010. FOR FURTHER INFORMATION CONTACT... retaining beneficial ownership information for anti-money laundering purposes. This guidance is being issued...

  6. 76 FR 69204 - Anti-Money Laundering Program and Suspicious Activity Reporting Requirements for Housing...

    Science.gov (United States)

    2011-11-08

    ... 1506-AB14 Anti-Money Laundering Program and Suspicious Activity Reporting Requirements for Housing... enterprises as financial institutions for the purpose of requiring them to establish anti-money laundering... organizations to establish anti-money laundering programs and report suspicious activities is intended to help...

  7. Putting your money where your mouth is: parents' valuation of good oral health of their children.

    Science.gov (United States)

    Vermaire, J H; van Exel, N J A; van Loveren, C; Brouwer, W B F

    2012-12-01

    The aim of this study was to investigate the parental willingness to invest in good oral health for their child in terms of money and time and to relate this to oral health related knowledge and behavioral aspects. 290 parents of 6-year-old children, participating in a RCT on caries preventive strategies in The Netherlands were asked to provide information on education, oral health habits, dietary habits, knowledge on dental topics, willingness to pay and perceived resistance against investing in preventive oral health actions for their children. Despite the fact that parents overall valued oral health for their child highly, still 12% of the parents were unwilling to spend any money, nor to invest any time by brushing their children's teeth to maintain good oral health for their child. Additionally, they indicated that they were unwilling to visit the dentist for preventive measures more than once a year. These children may certainly be considered at higher risk of developing oral diseases because worse oral hygiene habits and dietary habits were found in this group. Given the results, it may be necessary to differentiate in allocating caries prevention programmes to target parents or (school-based) children directly. Copyright © 2012 Elsevier Ltd. All rights reserved.

  8. The Strategic Petroleum Reserve

    Energy Technology Data Exchange (ETDEWEB)

    1991-01-01

    The Strategic Petroleum Reserve program was set into motion by the 1975 Energy Policy and Conservation Act (EPCA). By 1990, 590 million barrels of oil had been placed in storage. Salt domes along the Gulf Coast offered ideal storage. Both sweet'' and sour'' crude oil have been acquired using various purchase options. Drawdown, sale, and distribution of the oil would proceed according to guidelines set by EPCA in the event of a severe energy supply disruption. (SM)

  9. [Hypertrophy and coronary reserve].

    Science.gov (United States)

    Motz, W; Scheler, S

    2008-12-01

    Left ventricular hypertrophy represents the structural mechanism of adaptation of the left ventricle as the answer of a chronic pressure overload in arterial hypertension. Initially an increment in left ventricular wall thickness occurs. In this stadium of "concentric hypertrophy" LV systolic wall stress, LV ejection fraction and myocardial oxygen consumption per weight unit myocardium remain unchanged. In the further time course of disease LV dilatation will be present. In this phase of "excentric hypertrophy" LV systolic wall stress and myocardial oxygen consumption per weight unit myocardium rise and LV ejection fraction decreases. Patients with arterial hypertension frequently complain of angina pectoris. Angina pectoris and the positive exercise tolerance test or the positive myocardial scintigraphy are the consequence of the impaired coronary flow reserve. The coronary flow reserve is diminished due to structural and functional changes of the coronary circulation. ACE-inhibitors and AT1-receptor blockers cause a significant improvement of coronary flow reserve and regression of both left ventricular hypertrophy and myocardial fibrosis.

  10. O EFEITO SMART MONEY NO SEGMENTO DE FUNDOS MULTIMERCADOS

    Directory of Open Access Journals (Sweden)

    Rodrigo Fernandes Malaquias

    2012-12-01

    Full Text Available The aim of this paper was to investigate the occurrence of the Smart Money Effect on the Brazilian hedge funds segment. It was operationalized through the comparison between the average return of funds and their net flow. For this purpose, we performed a descriptive analysis with quantitative approach, using the statistical method Student's t test, based on a sample of 20 hedge funds in the period from May 2009 to July 2011. The results showed the occurrence of the Smart Money Effect, as the average performance was higher in funds with higher net inflows. We assumed, therefore, evidences of selection skills of funds from investors; in other words, on average, investors were able to identify funds that had the best return in the next period.

  11. 'Carbon-Money Exchange' to contain global warming and deforestation

    International Nuclear Information System (INIS)

    Nagase, Kozo

    2005-01-01

    This paper builds a basic theory of 'Carbon-Money Exchange' in which carbon as currency in nature's household (ecosystems) and money as currency in humankind's household (economy) are exchanged just like in a foreign exchange. The simple chemical equation below makes it possible (CO 2 →C+O 2 =C+O 2 →CO 2 ). The left-hand side represents the work of plants to remove atmospheric CO 2 . The right-hand side represents the work of humans as fossil fuel consumers to produce it. The exchange of the two currencies is possible by copying the fossil fuel market. The paper concludes that this new exchange can automatically contain global warming and deforestation, replacing onerous emissions trading. Moreover, it could revolutionize the conventional economy, creating counter-capitalism, or 'carbonism'

  12. Money and Marriage: Couple's Choices and their Predictors

    Directory of Open Access Journals (Sweden)

    Lina Coelho

    2016-01-01

    Full Text Available The ways in which couples in South Europe manage their money has received little attention. This study uses regression analysis to evaluate the allocative systems of Portuguese couples and their predictors. To do this we use a sample of 3,331 households in Portugal with at least one heterosexual couple. Couples' allocative systems were classified based on Pahl's typology. The results confirm what has been found in previous studies regarding the prevalence of joint pooling management and the predictors of the different models for managing money. However, some particularities have been found: decisions taken in multi-generational familes favour partial joint pooling, as the distinctive characteristics of households in South Europe play a role in assigning intra-family resources.

  13. Estimating Quartz Reserves Using Compositional Kriging

    Directory of Open Access Journals (Sweden)

    J. Taboada

    2013-01-01

    Full Text Available The aim of this study was to determine spatial distribution and volume of four commercial quartz grades, namely, silicon metal, ferrosilicon, aggregate, and kaolin (depending on content in impurities in a quartz seam. The chemical and mineralogical composition of the reserves in the seam were determined from samples collected from outcrops, blasting operations, and exploratory drilling, and compositional kriging was used to calculate the volume and distribution of the reserves. A more accurate knowledge of the deposit ensures better mine planning, leading to higher profitability and an improved relationship with the environment.

  14. Local money – a response to the globalisation of capital?

    OpenAIRE

    Pacione, Michael

    2011-01-01

    In response to the global financial crisis of 2007, a number of central banks used quantitative easing to address the collapse of confidence and credit. This involved increasing the liquidity of the financial system by creating new money. It is suggested that similar strategies of ‘printing money’ in the form of local currencies may be of value for local communities confronting the challenges of economic globalisation. This paper identifies the local impacts of economic globalisation, examine...

  15. Development assistance in Haiti: where has the money gone?

    OpenAIRE

    Anderson, Scott M.

    2014-01-01

    Approved for public release; distribution is unlimited This thesis analyzes the level of effectiveness of the development assistance that Haiti has received since being struck by an earthquake on January 12, 2010. Despite receiving billions of dollars in development assistance, Haiti has little tangible results to show for all of the money spent. According to a 2014 report from the United Nations Special Envoy to Haiti, $6.43 billion of this aid has already been disbursed. This thesis anal...

  16. How EPRI [Electric Power Research Institute] helps utilities save money

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    A number of case studies are presented which illustrate how the work of the Electric Power Research Institute in the USA has enabled nuclear utilities to save money. The areas covered by the examples are: steam generator tube repair; streamlining of reliability centred maintenance; cost effective instrumentation and control maintenance; reducing the frequency of instrument calibration; optimising the engineering change process; detecting and reducing fuel failure; extending the qualified life of equipment. (U.K.)

  17. On forward induction in money-burning games

    OpenAIRE

    Makoto Shimoji

    2001-01-01

    We first consider money-burning games studied by Ben-Porath and Dekel [6]. We show that iterative weak dominance and extensive form rationalizability yield the same unique outcome in this class of games. This result suggests that weak dominance captures the forward induction logic implied by extenisve form rationalizability. Next, we consider an example of entry model by Arvan [1] to demonstrate the power of forward induction. In this example, despite the presence of multiple equilibria, forw...

  18. Cube Handling In Backgammon Money Games Under a Jump Model

    OpenAIRE

    Higgins, Mark G.

    2012-01-01

    A variation on Janowski's cubeful equity model is proposed for cube handling in backgammon money games. Instead of approximating the cubeful take point as an interpolation between the dead and live cube limits, a new model is developed where the cubeless probability of win evolves through a series of random jumps instead of continuous diffusion. Each jump is drawn from a distribution with zero mean and an expected absolute jump size called the "jump volatility" that can be a function of game ...

  19. Chief Scientist Grants: a Waste of Public Money

    OpenAIRE

    Zev Golan

    2009-01-01

    The chief scientist program is designed to support Israeli technological projects. The level of subsidization, as revealed in JIMS' position paper, is much higher than the level used by OECD members. In fact, the Chief Scientist office distributes freely taxpayers' money without filtering and sorting the best projects. Usually, the bulk of the budget is given to large companies with extended public relations budgets. In the past 10 years, national expenditure on civilian R&D as a percent of G...

  20. Applications in Foreign Currency Prima CV Ellindo Money Changer

    OpenAIRE

    Wisnu Sutrisno; Ire Puspa Wardhani, Skom, MMSI

    2004-01-01

    This explains the scientific writing about the design of application programs forforeign currency transactions by using Visual Basic 6.0 programming language.In scientific writing database is also used by Visual Data Manager (VisData)integrated in Visual Basic 6.0 program itself. Consists of three tables namelyCurrency,Customer and Transaction.In the end application program for foreign currency transactions will be applied to theCV. Prima Ellindo Money Changer for ease in performing activitie...