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Sample records for stable money demand

  1. A stable demand for money despite financial crisis: The case of Venezuela

    OpenAIRE

    Bjørnland, Hilde C.

    2003-01-01

    This paper investigates the demand for broad money in Venezuela, over a period of financial crisis and substantial exchange rate fluctuations. The analysis shows that there exist a long run relationship between real money, real income, inflation, the exchange rate and the domestic interest rate, that remains stable over major policy changes and large shocks. The long run properties emphasize that both inflation and exchange rate depreciations have negative effects on real money demand. The lo...

  2. 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...

  3. 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.

  4. 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.

  5. 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...

  6. 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...

  7. 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...

  8. 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...

  9. 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...

  10. 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.

  11. Interest-free and Interest-bearing Money Demand: Policy Invariance and Stability

    OpenAIRE

    Amir Kia

    2001-01-01

    This paper, using quarterly Iranian data for the period of 1966-1998, extends the literature by investigating the stability of the interest-free money demand function. The study also examines the stability of economic agents' behavior in demanding interest-bearing and interest-free money. It was found, contrary to interest-bearing demand or money, both short- and long-run demand for interest-free money functions are stable and their coefficients are invariant with respect to policy and other ...

  12. 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...

  13. 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...

  14. 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.

  15. 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...

  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. The role of remittances in the stability of money demand in Pakistan: A cointegration analysis

    Directory of Open Access Journals (Sweden)

    Ghumro Niaz Hussain

    2017-01-01

    Full Text Available The paper examines the dynamic relationship between the series of monetary aggregates M1 and M2 for the period 1972-2014. M1 and M2 are the dependent variables, while the explanatory variables are real income, discount rate, inflation rate, real exchange rate, and remittances. The ARDL bounds testing approach to cointegration is used to investigate the existence of long-run and short-run effects of remittances on monetary aggregates. The results show that remittances exert only positive effects on real narrow money demand in the end, suggesting that in Pakistan remittances are used for the purpose of consumption. Both money demand functions are stable in Pakistan, but the longrun effect of M1 remittances is a faster speed of adjustment to equilibrium (26.2% than M2 remittances (21.3%. It is recommended that M1 be used as a monetary tool in Pakistan.

  18. Financial liberalization, inflation tax and the demand for money in ...

    African Journals Online (AJOL)

    This paper uses an error correction mechanism to model the demand for currency in Mozambique. In addition, it derives the optimum inflation tax and tests whether it remained stable between 1991 to 1999. In line with other studies done elsewhere, currency is found to have a long run relationship with income and inflation.

  19. The Implication of Effectiveness of Demand for Money on Economic Growth

    OpenAIRE

    Muritala Taiwo

    2012-01-01

    The demand for money plays a major role in macroeconomic analysis, especially in selecting appropriate policy. This brings in the demand for money function which expresses a mathematical relationship between the quantity of money demanded and its various determinants; interest rate, income, price level, credit availability, frequency of payments etc. Aggregate demand will be affected only in so far as consumption or investment is affected by the change in the interest rate. Against this backg...

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

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    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.

  1. The Implication of Effectiveness of Demand for Money on Economic Growth in Nigeria

    OpenAIRE

    Taiwo Adewale Muritala

    2012-01-01

    The demand for money plays a major role in macroeconomic analysis, especially inselecting appropriate policy. This brings in the demand for money function which expresses amathematical relationship between the quantity of money demanded and its various determinants;interest rate, income, price level, credit availability, frequency of payments etc. Aggregate demandwill be affected only in so far as consumption or investment is affected by the change in the interestrate. Against this background...

  2. A macro-econometric diagnosis of the Keynesian propositions of the money demand function in Malawi: An error-correction approach

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    Ken Chamuva Shawa

    2012-06-01

    Full Text Available The institution of sound monetary policies largely depends on a good understanding of the money demand function. While there have been studies to understand the behaviour of the money demand function in general, critical analyses solely devoted to testing Keynesian propositions, particularly in developing countries, are rare. Using data from 1970 to 2005, the study employs the Augmented Dickey-Fuller (ADF procedure to test for non-stationarity and the Johansen procedure to test for a long-run equilibrium relationship among economic fundamentals. Due to non-stationarity of variables an error-correction mechanism is used to characterise the money demand function in Malawi. Although the income elasticity of money demand bears the expected positive sign, contrary to Keynes’ contentions, the study finds a stable demand function and an inelastic interest rate elasticity of money demand. The level of financial development and exchange rates are also found significant in influencing money demand in Malawi. Vital policy implications can be drawn from the results. First, monetary policy should be undertaken bearing in mind the stability of the money demand function and the less than proportionate response of money demand to interest rate changes. Second, policies to improve the functioning of the financial sector are indispensable. Nonetheless, such policies should be supported by prudent exchange rate management to check currency substitution.

  3. 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 ...

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

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    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

  5. 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…

  6. The Implication of Effectiveness of Demand for Money on Economic Growth in Nigeria

    Directory of Open Access Journals (Sweden)

    Taiwo Adewale Muritala

    2012-02-01

    Full Text Available The demand for money plays a major role in macroeconomic analysis, especially inselecting appropriate policy. This brings in the demand for money function which expresses amathematical relationship between the quantity of money demanded and its various determinants;interest rate, income, price level, credit availability, frequency of payments etc. Aggregate demandwill be affected only in so far as consumption or investment is affected by the change in the interestrate. Against this background, the task in this paper is to empirically analyze and examine theimplication of the effectiveness of demand for money on economic growth performance within theNigerian context between the periods of 1970-2008 through the use of the application of OrdinaryLeast Square method, the multiple linear regressionanalysis on E-views 7.0. The paper thereforeconcludes that money demand has a major effect on the aggregate demand which accounts for theGDP of the economy. This implies that by ensuring efficiency in demand for money, aggregatedemand would be achieved and adequately sustained growth that will ensure that inflation is atminimum will be achieved in the economy.

  7. Results of a massive experiment on virtual currency endowments and money demand.

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    Nenad Živić

    Full Text Available We use a 575,000-subject, 28-day experiment to investigate monetary policy in a virtual setting. The experiment tests the effect of virtual currency endowments on player retention and virtual currency demand. An increase in endowments of a virtual currency should lower the demand for the currency in the short run. However, in the long run, we would expect money demand to rise in response to inflation in the virtual world. We test for this behavior in a virtual field experiment in the football management game Top11. 575,000 players were selected at random and allocated to different "shards" or versions of the world. The shards differed only in terms of the initial money endowment offered to new players. Money demand was observed for 28 days as players used real money to purchase additional virtual currency. The results indicate that player money purchases were significantly higher in the shards where higher endowments were given. This suggests that a positive change in the money supply in a virtual context leads to inflation and increased money demand, and does so much more quickly than in real-world economies. Differences between virtual and real currency behavior will become more interesting as virtual currency becomes a bigger part of the real economy.

  8. The Demand for Endogenous Money: A Lesson in Institutional Change

    OpenAIRE

    Peter Howells

    2007-01-01

    During a distinguished career, Basil Moore has made numerous important contributions to macroeconomics and monetary economics, and is renowned as the progenitor of the ‘horizontalist’ analysis of endogenous money. More recently, he has embraced complexity theory as part of an ongoing effort to understand macroeconomics as an evolving, path-dependent process. This book celebrates and explores Basil Moore’s interests in and contributions to monetary and macroeconomic theory.

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

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    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.

  10. Aggregate demand, endogenous money, and debt: a Keynesian critique of Keen and an alternative theoretical framework

    OpenAIRE

    Thomas I. Palley

    2014-01-01

    This paper presents a Keynesian critique of Steve Keen's treatment of the aggregate demand–credit–endogenous money nexus. It argues his analytic intuition is correct but is developed in the wrong direction. Keen's fundamental relation describing determination of AD in an endogenous credit money economy suffers from two flaws. First, it neglects the core Keynesian problematic of leakages from and injections into the circular flow of income. Second, it falls into the theoretical morass rega...

  11. Effect of Financial Innovations on Demand for Money in Pakistan: An ARDL approach

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    Qais Aslam

    2010-12-01

    Full Text Available An increasing array of development of banking system of Pakistan, through the use of information technology and modernization of products and services has led to financial innovations to be considered as important determinant of demand for money. This paper investigates the relationship of financial innovations and demand for money in Pakistan using Pesaran and Shin (1995 ARDL approach for long run and ECM for short run determination using yearly observations from 1957 to 2008. Using the ARDL coefficient estimation approach financial innovations demonstrates positive relationship, not found to significant but highly elastic and does not have deterministic trend for long run estimation whereas positively significant and deterministic trend for money demand function in short run in case of Pakistan.

  12. French petroleum demand stable since thirteen years

    International Nuclear Information System (INIS)

    Chauvot, M.

    2005-01-01

    The French union of petroleum industries (Ufip) has presented a globally satisfactory status of the French petroleum situation. However, the refining capacities are not always well adapted to the evolution of the demand and the production of diesel fuels remains insufficient while France exports gasoline. Short paper. (J.S.)

  13. Unanticipated money and the demand for foreign assets : a rational expectations approach

    NARCIS (Netherlands)

    Kumah, F.Y.

    1995-01-01

    This paper is an attempt at empirically investigating one of the building blocks of the foreign exchange market - the demand for foreign financial assets - under two alternative monetary policy rules (the fixed rate of growth of money rule and the feedback monetary policy rule) using time series

  14. Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies

    OpenAIRE

    Manmohan S. Kumar; Guillermo Calvo

    1994-01-01

    This paper examines factors determining the allocation of bank credit to the enterprise sector and the implications of this allocation for aggregate supply and macroeconomic performance in the former socialist economies. It first develops a model to explain how changes in demand for money by the household sector directly influence the availability of working capital, which in turn determines aggregate output and employment. It then examines factors influencing the allocation of bank credit be...

  15. REAL STOCK PRICES AND THE LONG-RUN MONEY DEMAND FUNCTION IN MALAYSIA: Evidence from Error Correction Model

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    Naziruddin Abdullah

    2004-06-01

    Full Text Available This study adopts the error correction model to empirically investigate the role of real stock prices in the long run-money demand in the Malaysian financial or money market for the period 1977: Q1-1997: Q2. Specifically, an attempt is made to check whether the real narrow money (M1/P is cointegrated with the selected variables like industrial production index (IPI, one-year T-Bill rates (TB12, and real stock prices (RSP. If a cointegration between the variables, i.e., the dependent and independent variables, is found to be the case, it may imply that there exists a long-run co-movement among these variables in the Malaysian money market. From the empirical results it is found that the cointegration between money demand and real stock prices (RSP is positive, implying that in the long run there is a positive association between real stock prices (RSP and demand for real narrow money (M1/P. The policy implication that can be extracted from this study is that an increase in stock prices is likely to necessitate an expansionary monetary policy to prevent nominal income or inflation target from undershooting.

  16. Energy demand and mix for global welfare and stable ecosystems

    Energy Technology Data Exchange (ETDEWEB)

    Jess, A.; Kern, C.; Kaiser, P.

    2012-07-01

    Social indicators show that an annual energy consumption of 2 tonnes of oil equivalent per capita (toe pc) should be enough to ensure a sufficient global average level of welfare and happiness. Hence, rich countries with currently up to 8 toe pc should reduce and poor should legitimately increase their energy demand until 2 toe pc are reached. At today's global energy mix with 80% fossil fuels, even this optimistic scenario will inevitably lead to a conflict between welfare and stable ecosystems. The population will be 9 billion by 2050 and the ecological footprint would rise from today 1.5 to 2 planet Earths. The only option to reach the desired footprint of one planet Earth is a complete shift from fossil fuels to renewables. (orig.)

  17. Asset Substitution: A Note on the Factors That Influence Both Money Supply and Demand.

    Science.gov (United States)

    Black, David C.; Dowd, Michael

    1994-01-01

    Asserts that economics students are usually given two descriptions of the money market with the implication that they are consistent with each other. Reviews recent research and presents an asset-substitution model that reconciles the two descriptions of the money market with observed behavior. (CFR)

  18. Housing demand or money supply? A new Keynesian dynamic stochastic general equilibrium model on China's housing market fluctuations

    Science.gov (United States)

    Wen, Xing-Chun; He, Ling-Yun

    2015-08-01

    There is a bitter controversy over what drives the housing price in China in the existing literature. In this paper, we investigate the underlying driving force behind housing price fluctuations in China, especially focusing on the role of housing demand shock with that of money supply shock in explaining housing price movements, by a new Keynesian dynamic stochastic general equilibrium model. Empirical results suggest that it is housing demand, instead of money supply, that mainly drives China's housing price movements. Relevant policy implication is further discussed, namely, whether to consider the housing price fluctuations in the conduct of monetary policy. By means of the policy simulations, we find that a real house price-augmented money supply rule is a better monetary policy for China's economy stabilization. 1. Investment refers to fixed capital investment. 2. Housing price refers to national average housing price. Quarterly data on housing price during the period of our work are not directly available. However, monthly data of the value of sales on housing and sale volume on housing can be directly obtained from National Bureau of Statistics of China. We add up the monthly data and calculate one quarter's housing price by dividing the value of housing sales by its sale volume in one quarter. 3. M2 means the broad money supply in China.

  19. Debate: Money, Money, Money

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    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?

  20. 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 ...

  1. 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.

  2. The impact of black market exchange rate on the demand for money Case of Algeria during 1980-2010 : Econometric study

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    Ali BENDOB

    2014-06-01

    Full Text Available The main objective of this study is to analyze the relationship between the exchange rate and the parallel circulation of money (M1 in Algeria during the period 1980-2010. For this purpose, we use the proposed especially by Pesaran et al ARDL model. (2001. the results confirm the convergence of long-term determinants of the demand for money (income, consumption price index, interest rate deposits, the parallel exchange rate. In addition, the CUSUM test and CUSUMSQ clearly show the stability of the long-term relationship during the estimation period between the parallel exchange rate and demand for the currency in Algeria. Instead, the relationship becomes unstable once we use the official exchange rate.

  3. 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...

  4. Causal Nexus between Stock Price, Demand for Money, Interest Rate, Foreign Institutional Investment, and Exchange Rates in India: A Post Subprime Crisis Analysis

    Directory of Open Access Journals (Sweden)

    Iti Vyas

    2014-08-01

    Full Text Available This  paper  makes  an  attempt  to  empirically  examine  the  causal  nexus  between  stock price, demand for money, interest rates, foreign institutional investment and exchange rates in India in the post subprime mortgage crisis period. The study employed Granger causality test, Vector Auto Regression and Johansen Maximum Likelihood procedure to examine the short  run  and  long  run  dynamic  interaction  among  the  above  mentioned  variables  for  the period January 1993 to May 2009. The major indings of the study are: stock return affects exchange rate return, net foreign institutional investment and growth of demand for money. Growth  of  demand  for  money,  in  turn,  affects  interest  rate.  Interest  rate  is  more  affected by exchange rate return. Foreign institutional investment also affects interest rate. The co-integration  test  conirms  that  there  does  not  exist  any  long  run  equilibrium  relationship between stock return and exchange rate return ";} // -->activate javascript

  5. 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.

  6. 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...

  7. 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 ...

  8. 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.

  9. 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....

  10. 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.

  11. 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...

  12. 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...

  13. 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.

  14. 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.

  15. 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...

  16. Stable stomatal number per minor vein length indicates the coordination between leaf water supply and demand in three leguminous species.

    Science.gov (United States)

    Zhao, Wan-Li; Siddiq, Zafar; Fu, Pei-Li; Zhang, Jiao-Lin; Cao, Kun-Fang

    2017-05-19

    The coordination between minor vein density (MVD) and stomatal density (SD) has been found in many plants. However, we still know little about the influence of leaf node on this correlation relationship. Here, we devised the new functional trait 'stomatal number per minor vein length' (SV). By measuring leaflet area (LA), MVD, SD, and SV, we demonstrated the significance of this functional trait in Arachis hypogaea (peanut) grown under different light regimes and in sun leaves of Dalbergia odorifera and Desmodium renifolium. We found that SV did not change significantly with leaflet node or with LA within each light treatment, while shading caused a significant decrease in SV. The positive correlation between SD and MVD was found in peanut under each light regime. Sun leaves of D. odorifera and D. renifolium also had stable SV along the leaflet node, with a positive correlation between MVD and SD. We conclude that under a certain light regime, a stable SV similar to the positive correlation between MVD and SD can also indicate the coordination between leaf water supply and demand. Our findings highlight the significance of SV and provide new insight into the coordination between stomatal number and minor vein length.

  17. 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.

  18. 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...

  19. 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.

  20. 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…

  1. 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…

  2. 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...

  3. An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money

    Directory of Open Access Journals (Sweden)

    Kundu Antara

    2013-01-01

    Full Text Available The present paper deals with an economic order quantity (EOQ model of an inventory problem with alternating demand rate: (i For a certain period, the demand rate is a non linear function of the instantaneous inventory level. (ii For the rest of the cycle, the demand rate is time dependent. The time at which demand rate changes, may be deterministic or uncertain. The deterioration rate of the item is time dependent. The holding cost and shortage cost are taken as a linear function of time. The total cost function per unit time is obtained. Finally, the model is solved using a gradient based non-linear optimization technique (LINGO and is illustrated by a numerical example.

  4. 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...

  5. 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 ...

  6. Determinacy in New Keynesian models: a role for money after all?

    OpenAIRE

    Minford, Patrick; Srinivasan, Naveen

    2009-01-01

    The New-Keynesian Taylor-Rule model of inflation determination with no role for money is incomplete. As Cochrane (2007a, b) argues, it has no credible mechanism for ruling out bubbles (or deal with the non-uniqueness problem that arises when the Taylor principle is violated) and as a result fails to provide a reason for private agents to pick a unique stable path. We propose a way forward. Our proposal is in effect that the New-Keynesian model should be formulated with a money demand and mone...

  7. 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...

  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. 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.

  10. 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...

  11. 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).

  12. 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.

  13. 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.

  14. 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...

  15. 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...

  16. 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 ...

  17. 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…

  18. 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.

  19. 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...

  20. 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....

  1. 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...

  2. 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.

  3. Relationship between price and money stock in Iranian economy (1961-2008

    Directory of Open Access Journals (Sweden)

    Mohammad Reza Babaei Semirumi

    2009-12-01

    Full Text Available The main purpose of this paper is to investigate the relationship between money and inflation in the Iranian economy with cagan(1956 money demand function . In doing so,I have first reviewed theoretical and empirical literature of causality throughout the world and then it be used Granger’s method for detecting causality between money and inflation in the Iranian economy. according to this working paper elasticity of demand for real balances in money market toward inflation for Iranian economy are approximately 0.9 and Money is exogenous reward to WPI,CPI and PPI in Iranian economy.

  4. 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...

  5. 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...

  6. 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…

  7. 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

  8. 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…

  9. 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

  10. 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...

  11. 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...

  12. 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...

  13. 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.

  14. 31 CFR 29.511 - Demand letters.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Demand letters. 29.511 Section 29.511... Overpayments § 29.511 Demand letters. Except as provided in § 29.516(e), before starting collection action to recover an overpayment, the Benefits Administrator must send a demand letter that informs the debtor in...

  15. 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)

  16. 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.

  17. 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...

  18. 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

  19. 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.

  20. 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...

  1. 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

  2. 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.

  3. 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.

  4. 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 ...

  5. 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…

  6. 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...

  7. 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?’

  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. On the theoretic status of the supply of money: a debate with Augusto Graziani

    OpenAIRE

    Cavalieri, Duccio

    1996-01-01

    In this article the debate between Prof. Augusto Graziani and the author on the monetary theory of production is carried further on. The main purpose of the paper is to delineate - along Keynesian lines and in opposition to the theory of the credit money circuit - a consistent and realistic view of the nature of the supply of money, general enough to embrace as limit-cases both a strictly endogenous and a strictly exogenous money supply. The interdependence of the supply and demand for money ...

  11. 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...

  12. 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...

  13. 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...

  14. 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.

  15. 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

  16. 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.

  17. 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

  18. 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

  19. 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

  20. 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.

  1. 31 CFR 501.602 - Reports to be furnished on demand.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Reports to be furnished on demand. 501.602 Section 501.602 Money and Finance: Treasury Regulations Relating to Money and Finance... therewith. Note: See subpart F of part 597 for the relationship between this section and part 597. [62 FR...

  2. Demand Estimation

    OpenAIRE

    Elliot E. Combs

    2017-01-01

    Price elasticity shows the responsiveness of demand to changes in price. Negative price elasticity of demand (PED) signifies the inverse relationship between price and demand. According to the equation, PED is -1.19 for widgets, which means that an increase in price of $1 would result in a contraction of demand of $1.19. Since the change in price corresponds with a more than proportionate change in demand, PED is said to be elastic. As a result, an increase in price would discourage consumers...

  3. 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.

  4. 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....

  5. 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.

  6. Demand Uncertainty

    DEFF Research Database (Denmark)

    Nguyen, Daniel Xuyen

    . This retooling addresses several shortcomings. First, the imperfect correlation of demands reconciles the sales variation observed in and across destinations. Second, since demands for the firm's output are correlated across destinations, a firm can use previously realized demands to forecast unknown demands...... in untested destinations. The option to forecast demands causes firms to delay exporting in order to gather more information about foreign demand. Third, since uncertainty is resolved after entry, many firms enter a destination and then exit after learning that they cannot profit. This prediction reconciles......This paper presents a model of trade that explains why firms wait to export and why many exporters fail. Firms face uncertain demands that are only realized after the firm enters the destination. The model retools the timing of uncertainty resolution found in productivity heterogeneity models...

  7. Playing the money game

    International Nuclear Information System (INIS)

    Veluchamy, V.K.

    1997-01-01

    Conventional methods of financing power generation, transmission and distribution in India cannot keep pace with the ever-growing demand. Alternative methods are discussed. Given the vast growth potential, funding can be by equity or debt capital or a hybrid of these. There is an urgent necessity to develop local capital markets as a source of funds since there are limits to how much can be derived from foreign investors, multilaterals and export credit agencies. The domestic financial institutions have raised large amounts for private investment in other sectors. With the creation of a proper climate and power companies set up with an attractive rate of return, sufficient capital could be forthcoming from both domestic and external markets for the power sector. In other sectors, Indian companies have been able to attract investment through Global Depository Receipts and Euroconvertible Bonds, for example. A key requirement for the power sector is the development of financial engineering models. By this means, innovative financial instruments and processes which suit the specific requirements of the sector can be designed, developed and implemented. (UK)

  8. 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.

  9. 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

  10. 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

  11. 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…

  12. 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 ...

  13. 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...

  14. 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.

  15. 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…

  16. 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...

  17. 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.

  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 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

  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. Demand scenarios, worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Schaefer, A. [Massachusetts Inst. of Technology, Center for Technology, Policy and Industrial Development and the MIT Joint Program on the Science and Policy of Global Change, Cambridge, MA (United States)

    1996-11-01

    Existing methods are inadequate for developing aggregate (regional and global) and long-term (several decades) passenger transport demand scenarios, since they are mainly based on simple extensions of current patterns rather than causal relationships that account for the competition among transport modes (aircraft, automobiles, buses and trains) to provide transport services. The demand scenario presented in this paper is based on two empirically proven invariances of human behavior. First, transport accounts for 10 to 15 percent of household total expenditures for those owning an automobile, and around 5 percent for non-motorized households on average (travel money budget). Second, the mean time spent traveling is approximately one hour per capita per day (travel time budget). These two budgets constraints determine the dynamics of the scenario: rising income increases per capita expenditure on travel which, in turn, increase demand for mobility. Limited travel time constraints travelers to shift to faster transport systems. The scenario is initiated with the first integrated historical data set on traffic volume in 11 world regions and the globe from 1960 to 1990 for all major modes of motorized transport. World average per capita traffic volume, which was 1,800 kilometers in 1960 and 4,2090 in 1990, is estimated to rise to 7,900 kilometers in 2020 - given a modest average increase in Gross World Product of 1.9% per year. Higher economic growth rates in Asian regions result in an increase in regional per capita traffic volume up to a factor of 5.3 from 1990 levels. Modal splits continue shifting to more flexible and faster modes of transport. At one point, passenger cars can no longer satisfy the increasing demand for speed (i.e. rising mobility within a fixed time budget). In North America it is estimated that the absolute traffic volume of automobiles will gradually decline starting in the 2010s. (author) 13 figs., 6 tabs., 35 refs.

  2. 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.

  3. Demanding Satisfaction

    Science.gov (United States)

    Oguntoyinbo, Lekan

    2010-01-01

    It was the kind of crisis most universities dread. In November 2006, a group of minority student leaders at Indiana University-Purdue University Indianapolis (IUPUI) threatened to sue the university if administrators did not heed demands that included providing more funding for multicultural student groups. This article discusses how this threat…

  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. 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

  7. Stable isotopes

    International Nuclear Information System (INIS)

    Evans, D.K.

    1986-01-01

    Seventy-five percent of the world's stable isotope supply comes from one producer, Oak Ridge Nuclear Laboratory (ORNL) in the US. Canadian concern is that foreign needs will be met only after domestic needs, thus creating a shortage of stable isotopes in Canada. This article describes the present situation in Canada (availability and cost) of stable isotopes, the isotope enrichment techniques, and related research programs at Chalk River Nuclear Laboratories (CRNL)

  8. Watchable Wildlife and Demand-Driven General Education

    Science.gov (United States)

    Alley, Richard B.

    2013-01-01

    The societal benefits of an educated citizenry may be lost if "customers" at tuition-driven universities demand less of what they pay for because they value a credential more than the education it represents. Insights from potential employers may help students see the value of education and demand their money's worth.

  9. 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.

  10. 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.

  11. 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....

  12. 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. ...

  13. 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...

  14. 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...

  15. In demand

    Energy Technology Data Exchange (ETDEWEB)

    Coleman, B. [Bridgestone Ltd. (United Kingdom)

    2005-11-01

    The paper explains how good relationships can help alleviate potential tyre shortages. Demand for large dump truck tyres (largely for China) has increased by 50% within 12 months. Bridgestone's manufacturing plants are operating at maximum capacity. The company supplies tyres to all vehicles at Scottish Coal's opencast coal mines. Its Tyre Management System (TMS) supplied free of charge to customers helps maximise tyre life and minimise downtime from data on pressure, tread and general conditions fed into the hand-held TMS computer. 3 photos.

  16. Opposite policy implications in the theory of money and banking

    Directory of Open Access Journals (Sweden)

    Jefferson D. P. Bertolai

    2013-12-01

    Full Text Available The recent financial crisis creates a demand for welfare-based models of financial regulation and liquidity shortages. In this paper, we review policy implications from two cornerstone models and show that they imply different responses in terms of intertemporal returns of financial liabilities. In the first case, a version of the Cavalcanti and Wallace (1999, random-matching model, monitored agents are led to promote inflation in bank-issued money. In the second case, a sequential-service version of the Diamond and Dybvig (1983 model of bank runs with insolvency, increases in long-run returns can prevent bank runs by reducing the provision of liquidity.

  17. 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.

  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. 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.…

  4. 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...

  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. Show Me the Money, Honey

    Science.gov (United States)

    Ellerson, Noelle

    2012-01-01

    Squeezed by four consecutive years of budget cuts as the nation's greatest recession wears on, the country's public schools have found themselves operating under increasingly tighter fiscal constraints while facing ever-changing demands and enrollments. Reductions in financial support to schools at the federal level have compounded cutbacks at the…

  10. 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.

  11. Liquidity supply and money velocity co-movements in the Eurozone – Time-Frequency Domain Approach

    Directory of Open Access Journals (Sweden)

    Svatopluk Kapounek

    2012-01-01

    Full Text Available The authors focus on financial stability in the Eurozone and propose alternative indicator for macro-prudential policy implementation. Rapid growth of the shadow banking system biases increase in loans to identify financial instability. The velocity of money represented money demand in the economy. The empirical part of the paper applies wavelet analysis to identify cyclical co-movements in money velocity and liquidity supply. The authors provide recommendations for policymakers to stabilize global liquidity shocks and reduce procyclical effects by institutions which supply official liquidity in their domestic currency – central banks.

  12. 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.

  13. 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...

  14. 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.

  15. 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...

  16. 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.

  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. Stable particles

    International Nuclear Information System (INIS)

    Samios, N.P.

    1994-01-01

    I have been asked to review the subject of stable particles, essentially the particles that eventually comprised the meson and baryon octets, with a few more additions - with an emphasis on the contributions made by experiments utilizing the bubble chamber technique. In this activity, much work had been done by the photographic emulsion technique and cloud chambers - exposed to cosmic rays as well as accelerator based beams. In fact, many if not most of the stable particles were found by these latter two techniques, however, the foree of the bubble chamber (coupled with the newer and more powerful accelerators) was to verify, and reinforce with large statistics, the existence of these states, to find some of the more difficult ones, mainly neutrals and further to elucidate their properties, i.e., spin, parity, lifetimes, decay parameters, etc. (orig.)

  20. Stable particles

    International Nuclear Information System (INIS)

    Samios, N.P.

    1993-01-01

    I have been asked to review the subject of stable particles, essentially the particles that eventually comprised the meson and baryon octets. with a few more additions -- with an emphasis on the contributions made by experiments utilizing the bubble chamber technique. In this activity, much work had been done by the photographic emulsion technique and cloud chambers-exposed to cosmic rays as well as accelerator based beams. In fact, many if not most of the stable particles were found by these latter two techniques, however, the forte of the bubble chamber (coupled with the newer and more powerful accelerators) was to verify, and reinforce with large statistics, the existence of these states, to find some of the more difficult ones, mainly neutrals and further to elucidate their properties, i.e., spin, parity, lifetimes, decay parameters, etc

  1. 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.

  2. 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...

  3. 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...

  4. 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...

  5. 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...

  6. 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...

  7. 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.

  8. 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.

  9. 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...

  10. 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...

  11. 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.

  12. 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.

  13. Stable beams

    CERN Multimedia

    2015-01-01

    Stable beams: two simple words that carry so much meaning at CERN. When LHC page one switched from "squeeze" to "stable beams" at 10.40 a.m. on Wednesday, 3 June, it triggered scenes of jubilation in control rooms around the CERN sites, as the LHC experiments started to record physics data for the first time in 27 months. This is what CERN is here for, and it’s great to be back in business after such a long period of preparation for the next stage in the LHC adventure.   I’ve said it before, but I’ll say it again. This was a great achievement, and testimony to the hard and dedicated work of so many people in the global CERN community. I could start to list the teams that have contributed, but that would be a mistake. Instead, I’d simply like to say that an achievement as impressive as running the LHC – a machine of superlatives in every respect – takes the combined effort and enthusiasm of everyone ...

  14. 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

  15. 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

  16. 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

  17. 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.

  18. 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.

  19. 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…

  20. Buckets of money for coal

    International Nuclear Information System (INIS)

    Anon

    2001-01-01

    The revival of coal prices is providing record profits for Australian coal producers. As the world's largest coal exporter, any move in coal prices has significant ramifications for the Australian economy. The coal boom of the mid-1980s resulted in a massive increase in mine capacity and subsequently excess supply. This resulted in the decade between 1990 and 2000 seeing benchmark prices for coking coal in Japan plummeting to $US 39 a tonne (down from around the $US 52 mark) and a price of $US 28 for a tonne of steaming coal. Asia's financial problems, late in the decade coupled with a rapid fall in Asian steel making, also added to our coal export woes. As a result for most of the 1990s, Australia's coal sector delivered inadequate returns, was seen as over-capitalised and suffered from a profound investor indifference. But the sector is now seeing a definite turnaround in fortunes. Prices for thermal coal are on the rise and the benchmark coking coal prices to Asia have also jumped. Market analysts reported the price for contract deliveries of thermal coal in April this year were $US 34.50 ($AUD 69.35) up by $US 5.75 from the same time last year. The increased production is expected on the back of a continued rise in export demand, further improvement in prices, significant improvements in mine productivity, a weak Australian dollar and the probability of new projects and mine extensions going into operation. The improved returns have also flowed into rising valuations for listed coal miners. Over the last year, coal miners such as MIM and Gympie Gold, have delighted in share price gains of 12 per cent and 55 per cent respectively. These sort of performances are being repeated across the Australian industry

  1. 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...

  2. 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...

  3. 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.

  4. 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…

  5. 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.…

  6. 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…

  7. 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…

  8. 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...

  9. 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…

  10. 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.

  11. 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

  12. 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…

  13. 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...

  14. 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.

  15. 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...

  16. 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.

  17. 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).

  18. 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...

  19. 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...

  20. 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

  1. 31 CFR 535.420 - Transfers of accounts under § 535.508 from demand to interest-bearing status.

    Science.gov (United States)

    2010-07-01

    ....508 from demand to interest-bearing status. 535.420 Section 535.420 Money and Finance: Treasury... from demand to interest-bearing status. Section 535.508 authorizes transfer of a blocked demand deposit account to interest-bearing status at the instruction of the Iranian depositor at any time. [44 FR 76784...

  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. 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.

  6. 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 ...

  7. 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.

  8. 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.

  9. 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 ...

  10. 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...

  11. 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. ...

  12. 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...

  13. Where will the money come from?

    International Nuclear Information System (INIS)

    Smith, G.

    2004-01-01

    This paper presents an overview of Macquarie, a global investment bank based in Australia, whose primary focus is on infrastructure and utilities. A corporate review was provided, with market capitalization, total assets and funds and franchise expansion plans. Its global portfolio in the infrastructure sector were presented as was an outline of a fund established to invest in existing generation facilities in North America. Details of its acquisition criteria with specific reference to electricity generation facilities were outlined, as well as information concerning investor interest in energy infrastructure assets. Global capital supply and demand and public and private investment criteria were reviewed. The political risks of investment in Canada were overviewed, with examples of dead deal costs on pulled projects as a consideration of risks for private investment. Regulatory risks were also evaluated, with reference to a case study in Alberta. The benefits of investing in Alberta were considered to be its stable political environment along with favourable government policies for private investment. A comparison was drawn between the Alberta investment culture and a case study of the Michigan Electric Transmission Company, which included asset economics and regulation details. Current Ontario generation market challenge towards establishing a robust financing framework were discussed, including revenue certainty and a clarification of market structure to enable adequate risk management. It was concluded that considerations for future investment include an assessment of political and regulatory risk and price adjustments for global capital; an assessment of trapped capital due to changes in the political and regulatory environment; concerns over visibility and proximity to political 'heat'; and an awareness that investment horizons often last longer than 5-6 government terms. tabs., figs

  14. 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...

  15. 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...

  16. 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...

  17. 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...

  18. 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...

  19. 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...

  20. 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...

  1. 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...

  2. 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...

  3. 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...

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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.

  9. 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.

  10. 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.

  11. 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.

  12. 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...

  13. 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).

  14. 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...

  15. 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...

  16. 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...

  17. 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

  18. 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.

  19. 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...

  20. 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.

  1. On-Demand Telemetry

    Data.gov (United States)

    National Aeronautics and Space Administration — AFRC has previously investigated the use of Network Based Telemetry. We will be building on that research to enable On-Demand Telemetry. On-Demand Telemetry is a way...

  2. 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...

  3. 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...

  4. 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...

  5. 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...

  6. Stable Isotope Data

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Tissue samples (skin, bone, blood, muscle) are analyzed for stable carbon, stable nitrogen, and stable sulfur analysis. Many samples are used in their entirety for...

  7. Use of demand response in electricity markets

    DEFF Research Database (Denmark)

    Singh, Sri Niwas; Østergaard, Jacob

    2010-01-01

    Demand response (DR) can provide sufficient measure, if implemented successfully, to provide economic, secure and stable supply to the customers even under the variability of the generated output from renewable energy source such as wind and solar. However, there are several issues to be analyzed...

  8. 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.

  9. 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 ...

  10. 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

  11. 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.

  12. 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 ...

  13. Electricity demand forecasting techniques

    International Nuclear Information System (INIS)

    Gnanalingam, K.

    1994-01-01

    Electricity demand forecasting plays an important role in power generation. The two areas of data that have to be forecasted in a power system are peak demand which determines the capacity (MW) of the plant required and annual energy demand (GWH). Methods used in electricity demand forecasting include time trend analysis and econometric methods. In forecasting, identification of manpower demand, identification of key planning factors, decision on planning horizon, differentiation between prediction and projection (i.e. development of different scenarios) and choosing from different forecasting techniques are important

  14. 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 ...

  15. 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.

  16. 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.

  17. 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

  18. 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.

  19. Financing the UK power sector: Is the money available?

    International Nuclear Information System (INIS)

    Blyth, William; McCarthy, Rory; Gross, Robert

    2015-01-01

    The UK power generation sector faces a major new round of investment: the coincidence of asset retiring and ambitious goals for decarbonisation is not unique, but is particularly acute in the UK. The UK government has put in place a raft of new policies that seek to promote new, low carbon investment and ensure security of supply. The traditional channel for financing the sector has been through large utility companies, but this now looks challenging for various reasons. The UK therefore offers an interesting case study on several counts; the scale of the challenge, effectiveness of new policies, and the availability of alternative finance. We find that the link between the finance sector and the electricity sector is not ‘broken’, but the flow of money to the sector is threatened by the current weakness of the utilities’ business model. This paper compares estimates of the scale of investment required in the UK with historical investment rates. It summarises contemporary finance industry views of conditions and trends, and potential policy interventions that might be needed to bridge the investment gap. The potential for channelling institutional investor funds directly into energy assets is reviewed. - Highlights: • Power investment need to scale up compared to historical trends, but is achievable. • Traditionally, low-cost finance has been through bonds and shares of large utilities. • Utilities are suffering high debt, reduced demand, and suppressed prices. • Policy interventions to scale-up investment are reviewed.

  20. 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

  1. Electricity demand in Kazakhstan

    International Nuclear Information System (INIS)

    Atakhanova, Zauresh; Howie, Peter

    2007-01-01

    Properties of electricity demand in transition economies have not been sufficiently well researched mostly due to data limitations. However, information on the properties of electricity demand is necessary for policy makers to evaluate effects of price changes on different consumers and obtain demand forecasts for capacity planning. This study estimates Kazakhstan's aggregate demand for electricity as well as electricity demand in the industrial, service, and residential sectors using regional data. Firstly, our results show that price elasticity of demand in all sectors is low. This fact suggests that there is considerable room for price increases necessary to finance generation and distribution system upgrading. Secondly, we find that income elasticity of demand in the aggregate and all sectoral models is less than unity. Of the three sectors, electricity demand in the residential sector has the lowest income elasticity. This result indicates that policy initiatives to secure affordability of electricity consumption to lower income residential consumers may be required. Finally, our forecast shows that electricity demand may grow at either 3% or 5% per year depending on rates of economic growth and government policy regarding price increases and promotion of efficiency. We find that planned supply increases would be sufficient to cover growing demand only if real electricity prices start to increase toward long-run cost-recovery levels and policy measures are implemented to maintain the current high growth of electricity efficiency

  2. 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...

  3. 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 ...

  4. 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...

  5. 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 ...

  6. 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...

  7. Innovation and Demand

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2007-01-01

    the demand-side of markets in the simplest possible way. This strategy has allowed a gradual increase in the sophistication of supply-side aspects of economic evolution, but the one-sided focus on supply is facing diminishing returns. Therefore, demand-side aspects of economic evolution have in recent years...... received increased attention. The present paper argues that the new emphasis on demand-side factors is quite crucial for a deepened understanding of economic evolution. The major reasons are the following: First, demand represents the core force of selection that gives direction to the evolutionary process....... Second, firms' innovative activities relate, directly or indirectly, to the structure of expected and actual demand. Third, the demand side represents the most obvious way of turning to the much-needed analysis of macro-evolutionary change of the economic system....

  8. 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

  9. 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.

  10. 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.

  11. 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...

  12. 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.

  13. 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.

  14. 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...

  15. 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.

  16. 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...

  17. PERFECT DEMAND ILLUSION

    Directory of Open Access Journals (Sweden)

    Alexander Yu. Sulimov

    2015-01-01

    Full Text Available The article is devoted to technique «Perfect demand illusion», which allows to strengthen the competitive advantageof retailers. Also in the paper spells out the golden rules of visual merchandising.The definition of the method «Demand illusion», formulated the conditions of its functioning, and is determined by the mainhypothesis of the existence of this method.Furthermore, given the definition of the «Perfect demand illusion», and describes its additional conditions. Also spells out the advantages of the «Perfect demandillusion», before the «Demand illusion».

  18. Divers of Passenger Demand

    OpenAIRE

    Wittmer, Andreas

    2011-01-01

    -Overview drivers of passenger demand -Driver 1: Economic growth in developing countries -Driver 2: International business travel in developed countries -Driver 3: International leisure travel in developed countries

  19. Stable convergence and stable limit theorems

    CERN Document Server

    Häusler, Erich

    2015-01-01

    The authors present a concise but complete exposition of the mathematical theory of stable convergence and give various applications in different areas of probability theory and mathematical statistics to illustrate the usefulness of this concept. Stable convergence holds in many limit theorems of probability theory and statistics – such as the classical central limit theorem – which are usually formulated in terms of convergence in distribution. Originated by Alfred Rényi, the notion of stable convergence is stronger than the classical weak convergence of probability measures. A variety of methods is described which can be used to establish this stronger stable convergence in many limit theorems which were originally formulated only in terms of weak convergence. Naturally, these stronger limit theorems have new and stronger consequences which should not be missed by neglecting the notion of stable convergence. The presentation will be accessible to researchers and advanced students at the master's level...

  20. Wood supply and demand

    Science.gov (United States)

    Peter J. Ince; David B. McKeever

    2011-01-01

    At times in history, there have been concerns that demand for wood (timber) would be greater than the ability to supply it, but that concern has recently dissipated. The wood supply and demand situation has changed because of market transitions, economic downturns, and continued forest growth. This article provides a concise overview of this change as it relates to the...

  1. Causality in demand

    DEFF Research Database (Denmark)

    Nielsen, Max; Jensen, Frank; Setälä, Jari

    2011-01-01

    to fish demand. On the German market for farmed trout and substitutes, it is found that supply sources, i.e. aquaculture and fishery, are not the only determinant of causality. Storing, tightness of management and aggregation level of integrated markets might also be important. The methodological......This article focuses on causality in demand. A methodology where causality is imposed and tested within an empirical co-integrated demand model, not prespecified, is suggested. The methodology allows different causality of different products within the same demand system. The methodology is applied...... implication is that more explicit focus on causality in demand analyses provides improved information. The results suggest that frozen trout forms part of a large European whitefish market, where prices of fresh trout are formed on a relatively separate market. Redfish is a substitute on both markets...

  2. 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…

  3. 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…

  4. 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…

  5. 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

  6. 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 ...

  7. 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

  8. 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...

  9. 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 ...

  10. 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 ...

  11. 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.

  12. 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

  13. 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...

  14. 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.

  15. 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

  16. 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...

  17. 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...

  18. 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...

  19. 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...

  20. 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...

  1. 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.

  2. 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.

  3. Asian oil demand

    International Nuclear Information System (INIS)

    Fesharaki, F.

    2005-01-01

    This conference presentation examined global oil market development and the role of Asian demand. It discussed plateau change versus cyclical movement in the global oil market; supply and demand issues of OPEC and non-OPEC oil; if high oil prices reduce demand; and the Asian oil picture in the global context. Asian oil demand has accounted for about 50 per cent of the global incremental oil market growth. The presentation provided data charts in graphical format on global and Asia-Pacific incremental oil demand from 1990-2005; Asia oil demand growth for selected nations; real GDP growth in selected Asian countries; and, Asia-Pacific oil production and net import requirements. It also included charts in petroleum product demand for Asia-Pacific, China, India, Japan, and South Korea. Other data charts included key indicators for China's petroleum sector; China crude production and net oil import requirements; China's imports and the share of the Middle East; China's oil exports and imports; China's crude imports by source for 2004; China's imports of main oil products for 2004; India's refining capacity; India's product balance for net-imports and net-exports; and India's trade pattern of oil products. tabs., figs

  4. stableGP

    Data.gov (United States)

    National Aeronautics and Space Administration — The code in the stableGP package implements Gaussian process calculations using efficient and numerically stable algorithms. Description of the algorithms is in the...

  5. Uranium supply and demand

    International Nuclear Information System (INIS)

    1984-05-01

    This report covers the period 1983 to 1995. It draws together the industry's latest views on future trends in supply and demand, and sets them in their historical context. It devotes less discussion than its predecessors to the technical influences underpinning the Institute's supply and demand forecasts, and more to the factors which influence the market behaviour of the industry's various participants. As the last decade has clearly shown, these latter influences can easily be overlooked when undue attention is given to physical imbalances between supply and demand. (author)

  6. On energy demand

    International Nuclear Information System (INIS)

    Haefele, W.

    1977-01-01

    Since the energy crisis, a number of energy plans have been proposed, and almost all of these envisage some kind of energy demand adaptations or conservation measures, hoping thus to escape the anticipated problems of energy supply. However, there seems to be no clear explanation of the basis on which our foreseeable future energy problems could be eased. And in fact, a first attempt at a more exact definition of energy demand and its interaction with other objectives, such as economic ones, shows that it is a highly complex concept which we still hardly understand. The article explains in some detail why it is so difficult to understand energy demand

  7. Innovation and Demand

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2007-01-01

    Economic evolution is an immensely complex phenomenon, so there is an obvious need of simplifying the way we handle this phenomenon. Since Nelson and Winter's pioneering formalisation of the Schumpeterian vision of innovation-driven evolution, the major simplification has been obtained by modelling...... the demand-side of markets in the simplest possible way. This strategy has allowed a gradual increase in the sophistication of supply-side aspects of economic evolution, but the one-sided focus on supply is facing diminishing returns. Therefore, demand-side aspects of economic evolution have in recent years....... Second, firms' innovative activities relate, directly or indirectly, to the structure of expected and actual demand. Third, the demand side represents the most obvious way of turning to the much-needed analysis of macro-evolutionary change of the economic system....

  8. 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

  9. 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.

  10. 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

  11. 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.

  12. 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.

  13. 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.

  14. 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.

  15. 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...

  16. 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.

  17. A STUDY ON THE RELEVANCE OF FORENSICS ACCOUNTING: THE PERCEPTION OF PROFESSIONALS LINKED TO THE MONEY LAUNDERING COMBAT

    Directory of Open Access Journals (Sweden)

    Arnaldo Antonio Duarte Ribeiro

    2016-03-01

    Full Text Available This paper aimed to investigate the perceptions of professionals engaged in activities related to money laundering combat and the importance of Forensic Accounting as an instrument of investigation regarding criminal practices on economic and financial activities. This research was conducted through a structured survey, submitted to 84 participants of the third module of the course of Money Laundering Combat ministered by the Department of Assets Recovery and International Legal Cooperation of the Ministry of Justice of Brazil. The results showed that Forensic Accounting is perceived as an important component in the fight against money laundering and the production of evidence in the criminal organizations investigative process. Respondents also argue that there is a demand for graduation and post graduation, to train professionals in this area, given the degree of sophistication of such crimes, which constitute an unconventional type of crime. All accountants and economists in the sample have intention to participate in post-graduation courses in Forensic Accounting, an opinion shared by 69% of respondents who have no training in accounting and economics. Most of the professionals in the sample have used professional services with economic and financial expertise in conducting anti-money laundering activities.

  18. 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

  19. UK Nuclear Workforce Demand

    International Nuclear Information System (INIS)

    Roberts, John

    2017-01-01

    UK Nuclear Sites: DECOMMISSIONING - 26 Magnox Reactors, 2 Fast Reactors; OPERATIONAL - 14 AGRs, 1 PWR; 9.6 GWe Total Capacity. Nuclear Workforce Demand • Total workforce demand is expected to grow from ~88,000 in 2017 to ~101,000 in 2021 • Average “inflow” is ~7,000 FTEs per annum • 22% of the workforce is female (28% in civil, 12% in defence) • 81% generic skills, 18% nuclear skills, 1% subject matter experts • 3300 trainees total in SLCs and Defence Enterprise (16% graduate trainees) • At peak demand on Civils Construction, over 4,000 workers will be required on each nuclear new build site • Manufacturing workforce is expected to rise from around 4,000 in 2014 to 8,500 at the peak of onsite activity in 2025

  20. Education on Demand

    DEFF Research Database (Denmark)

    Boysen, Lis; Hende, Merete

    2015-01-01

    Dette notat beskriver nogle af resultaterne fra programmet "Education on Demand' i projektet Det erhvervsrettede Uddannelseslaboratorium. Programmet har haft fokus på udfordringer og forandringsbehov i uddannelsesinstitutioner og -systemet. Herunder har det beskæftiget sig særligt med de to temat......Dette notat beskriver nogle af resultaterne fra programmet "Education on Demand' i projektet Det erhvervsrettede Uddannelseslaboratorium. Programmet har haft fokus på udfordringer og forandringsbehov i uddannelsesinstitutioner og -systemet. Herunder har det beskæftiget sig særligt med de...

  1. Demand Modelling in Telecommunications

    Directory of Open Access Journals (Sweden)

    M. Chvalina

    2009-01-01

    Full Text Available This article analyses the existing possibilities for using Standard Statistical Methods and Artificial Intelligence Methods for a short-term forecast and simulation of demand in the field of telecommunications. The most widespread methods are based on Time Series Analysis. Nowadays, approaches based on Artificial Intelligence Methods, including Neural Networks, are booming. Separate approaches will be used in the study of Demand Modelling in Telecommunications, and the results of these models will be compared with actual guaranteed values. Then we will examine the quality of Neural Network models. 

  2. DemandStat

    International Nuclear Information System (INIS)

    2003-01-01

    DemandStat is an accurate and up-to-date international statistics database dedicated to energy demand, with an unrivaled level of details for powerful market analysis. It provides detailed consumption statistics (30 sectors) on all energies, detailed 2003 data and historical annual data since 1970, frequent data revision and update (2 updates options), 150 data sources gathered and expertized, all data on a single database Consistent and homogeneous statistics, in line with all major data providers (IEA, Eurostat, ADB, OLADE, etc), no ruptures in time-series with easy request building and data analysis and reactive support from data experts. (A.L.B.)

  3. 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

  4. 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.

  5. 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...

  6. 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.

  7. 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.

  8. 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...

  9. 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...

  10. 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.

  11. 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...

  12. 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. 

  13. Endogeneidad del dinero y tasa de interés Money endogeneity and interest rates

    Directory of Open Access Journals (Sweden)

    García Molina Mario

    1994-12-01

    Full Text Available Apoyándose en las teorías postkeynesiana del dinero endógeno, este trabajo expone las bases de un programa de investigación sobre la economía monetaria colombiana. La interpretación usual de la ecuación cuantitativa del dinero considera que el ingreso y la velocidad de la circulación de la moneda son constantes, mientras que la cantidad de dinero son controladas por la autoridad monetaria y sus cambios traducen cambios en el nivel de precios y viene dada en forma exógena. En las interpretaciones postkeynesianas, los aumentos de precios inducen mayores rendimientos de dinero y, a fin de mantener la estabilidad y la solidez del sistema bancario, el banco central debe actuar en forma adaptativa; así, los precios causan la cantidad de dinero y ésta tiene un carácter endógeno. Además de la discusión de los problemas teóricos que plantea esta concepción del dinero, el artículo presenta evidencia empírica que apoya esta hipótesis en el caso colombiano y sugiere un manejo alternativo de la tasa de interés.Based on the post-Keynesian theories of endogenous money, this worklays out the basis of a research program on the Colombian monetaryeconomy. The usual interpretation of the quantitative equation formoney considers that income and the velocity of circulation of moneyare constant, while the volume of money is controlled by theauthorities and changes in it are translated into changes in the levelof prices: the amount of money in circulation causes prices to be whatthey are, and is exogenous to them. A Post-Keynesian interpretationwould say that price increases bring a greater demand for money, andthat, in the name of the stability and solidity of the banking system,the central bank should adapt to such changes. Prices affect the moneysupply, and money is therefore endogenous. The article discusses thetheoretical problems of this approach and presents empirical evidencesupporting the hypothesis in the case of Colombia, suggesting

  14. 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.

  15. 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...

  16. "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...

  17. 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, ...

  18. 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.

  19. 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.

  20. 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.

  1. 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.

  2. 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.

  3. Oil supply and demand

    International Nuclear Information System (INIS)

    Rech, O.

    2006-01-01

    The year 2004 saw a change in the oil market paradigm that was confirmed in 2005. Despite a calmer geopolitical context, prices continued to rise vigorously. Driven by world demand, they remain high as a result of the saturation of production and refining capacity. The market is still seeking its new equilibrium. (author)

  4. Oil supply and demand

    International Nuclear Information System (INIS)

    Rech, O.

    2004-01-01

    World oil demand, driven by economic development in China, posted the highest growth rate in 20 years. In a context of geopolitical uncertainty, prices are soaring, encouraged by low inventory and the low availability of residual production capacity. Will 2004 bring a change in the oil market paradigm? (author)

  5. Oil supply and demand

    International Nuclear Information System (INIS)

    Babusiaux, D.

    2004-01-01

    Following the military intervention in Iraq, it is taking longer than expected for Iraqi exports to make a comeback on the market. Demand is sustained by economic growth in China and in the United States. OPEC is modulating production to prevent inventory build-up. Prices have stayed high despite increased production by non-OPEC countries, especially Russia. (author)

  6. DEMAND AND PRICES

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2014-08-01

    Full Text Available Studying the consumer’s behavior by the ordinal approach of utility with the help of indifference curves allows us to deduce the two “movement laws of demand” in this chapter: the demand for a “normal” good is decreasing function of its price and an increasing function of income. We will use the elasticity concept to measure the intensity of the relation that is established between the demand, on the one hand, and prices or income, on the other hand: elasticity – price, direct and crossed, and elasticity – income. We can classify the goods in many categories, depending on the values that this elasticity takes. The demand elasticity can be determined depending on price and income. It reflects the proportion in which the demand for different products changes with the modification of the consumers’ income, the other factors remaining constant. The elasticity compared to the income is a demonstration of legality from the consumer’s sphere, which determines a certain hierarchy of the needs of each population category in a certain level of income. The movement of prices orients both the options and decisions of producers, namely the most useful productions and the most efficient investments, as well as the consumers’ options and decisions on the most advantageous buying of goods and services that they need. The prices appear as a “signal system” coordinating and making coherence the economic agents’ decisions – producers, consumers and population.

  7. Demands for School Leaders

    Science.gov (United States)

    Bradley-Levine, Jill

    2016-01-01

    This article examines the ways that graduate courses in teacher leadership influenced the ways that teachers described the nature of leadership and their role as educational leaders. Using Foster's (1989) four demands for school leaders as a theoretical framework, participants' perceptions are examined to determine how teachers synthesized their…

  8. Oil supply and demand

    Energy Technology Data Exchange (ETDEWEB)

    Rech, O

    2004-07-01

    World oil demand, driven by economic development in China, posted the highest growth rate in 20 years. In a context of geopolitical uncertainty, prices are soaring, encouraged by low inventory and the low availability of residual production capacity. Will 2004 bring a change in the oil market paradigm? (author)

  9. Textbook Factor Demand Curves.

    Science.gov (United States)

    Davis, Joe C.

    1994-01-01

    Maintains that teachers and textbook graphics follow the same basic pattern in illustrating changes in demand curves when product prices increase. Asserts that the use of computer graphics will enable teachers to be more precise in their graphic presentation of price elasticity. (CFR)

  10. Sterically demanding iminopyridine ligands

    NARCIS (Netherlands)

    Irrgang, Torsten; Keller, Sandra; Maisel, Heidi; Kretschmer, Winfried; Kempe, Rhett

    Two sterically demanding iminopyridine ligands, (2,6-diisopropylphenyl)[6-(2,4,6-triisopropylphenyl)pyridin-2-ylmeth- ylene]amine and (2,6-diisopropylphenyl)]6-(2,6-dimethylphenyl)pyridin-2-ylmethylene]amine, were prepared by a two-step process: first, condensation of 6-bromopyridine-2-carbaldehyde

  11. Stable isotopes labelled compounds

    International Nuclear Information System (INIS)

    1982-09-01

    The catalogue on stable isotopes labelled compounds offers deuterium, nitrogen-15, and multiply labelled compounds. It includes: (1) conditions of sale and delivery, (2) the application of stable isotopes, (3) technical information, (4) product specifications, and (5) the complete delivery programme

  12. Stable Boundary Layer Issues

    NARCIS (Netherlands)

    Steeneveld, G.J.

    2012-01-01

    Understanding and prediction of the stable atmospheric boundary layer is a challenging task. Many physical processes are relevant in the stable boundary layer, i.e. turbulence, radiation, land surface coupling, orographic turbulent and gravity wave drag, and land surface heterogeneity. The

  13. Evolutionary Stable Strategy

    Indian Academy of Sciences (India)

    IAS Admin

    After Maynard-Smith and Price [1] mathematically derived why a given behaviour or strategy was adopted by a certain proportion of the population at a given time, it was shown that a strategy which is currently stable in a population need not be stable in evolutionary time (across generations). Additionally it was sug-.

  14. 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...

  15. 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...

  16. 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...

  17. 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...

  18. 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...

  19. 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...

  20. 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...

  1. Ontario demand response scenarios

    International Nuclear Information System (INIS)

    Rowlands, I.H.

    2005-09-01

    Strategies for demand management in Ontario were examined via 2 scenarios for a commercial/institutional building with a normal summertime peak load of 300 kW between 14:00 and 18:00 during a period of high electricity demand and high electricity prices. The first scenario involved the deployment of a 150 kW on-site generator fuelled by either diesel or natural gas. The second scenario involved curtailing load by 60 kW during the same periods. Costs and benefits of both scenarios were evaluated for 3 groups: consumers, system operators and society. Benefits included electricity cost savings, deferred transmission capacity development, lower system prices for electricity, as well as environmental changes, economic development, and a greater sense of corporate social responsibility. It was noted that while significant benefits were observed for all 3 groups, they were not substantial enough to encourage action, as the savings arising from deferred generation capacity development do not accrue to individual players. The largest potential benefit was identified as lower prices, spread across all users of electricity in Ontario. It was recommended that representative bodies cooperate so that the system-wide benefits can be reaped. It was noted that if 10 municipal utilities were able to have 250 commercial or institutional customers engaged in distributed response, then a total peak demand reduction of 375 MW could be achieved, representing more than 25 per cent of Ontario's target for energy conservation. It was concluded that demand response often involves the investment of capital and new on-site procedures, which may affect reactions to various incentives. 78 refs., 10 tabs., 5 figs

  2. Supply and demand perspectives

    International Nuclear Information System (INIS)

    Trienekens, Pieter

    1999-01-01

    The outlook for the European gas market is one of steady growth. This growth will manifest itself in all regions and in all sectors of the market, but most strongly in the power generating sector. To meet future demand, it is necessary to bring gas to Western Europe from remote sources in Russia, North Africa and Norway. These new gas supplies require heavy investments in production and transportation, which can only be undertaken on the basis of long-term take-or-pay contracts. Famous examples of such contracts are the development of the Troll field, the Yamal-Europe pipeline connection, and the bringing on stream of Nigerian LNG for Europe. Tensions are likely to arise between the nature of these long-term gas contracts and the dynamic nature of demand in the gas market, and more specifically in the main growth market, the power sector. The presentation further elaborates on the tensions underlying supply and demand in the years to come

  3. Normal modified stable processes

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole Eiler; Shephard, N.

    2002-01-01

    This paper discusses two classes of distributions, and stochastic processes derived from them: modified stable (MS) laws and normal modified stable (NMS) laws. This extends corresponding results for the generalised inverse Gaussian (GIG) and generalised hyperbolic (GH) or normal generalised inverse...... Gaussian (NGIG) laws. The wider framework thus established provides, in particular, for added flexibility in the modelling of the dynamics of financial time series, of importance especially as regards OU based stochastic volatility models for equities. In the special case of the tempered stable OU process...

  4. Applications of stable isotopes

    International Nuclear Information System (INIS)

    Letolle, R.; Mariotti, A.; Bariac, T.

    1991-06-01

    This report reviews the historical background and the properties of stable isotopes, the methods used for their measurement (mass spectrometry and others), the present technics for isotope enrichment and separation, and at last the various present and foreseeable application (in nuclear energy, physical and chemical research, materials industry and research; tracing in industrial, medical and agronomical tests; the use of natural isotope variations for environmental studies, agronomy, natural resources appraising: water, minerals, energy). Some new possibilities in the use of stable isotope are offered. A last chapter gives the present state and forecast development of stable isotope uses in France and Europe

  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. ELECTRICITY DEMAND AND ELECTRICITY VALUE

    OpenAIRE

    Henry Lim; Glenn Jenkins

    2000-01-01

    The estimation of the demand for electricity is important in the appraisal of power projects because it often affects the benefits of the projects. For projects that involve a decision about the timing of investment- when to install new capacity to meet the demand- the precision of the electricity demand forecast can be critical. For others, when electric tariff policy is involved, it is essential to relate the demand for electricity with tariffs through the use of an electricity demand model...

  7. 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.

  8. 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.

  9. 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.

  10. 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

  11. 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.

  12. Analysing Stable Time Series

    National Research Council Canada - National Science Library

    Adler, Robert

    1997-01-01

    We describe how to take a stable, ARMA, time series through the various stages of model identification, parameter estimation, and diagnostic checking, and accompany the discussion with a goodly number...

  13. 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

  14. Estimating Import-Demand Function in ARDL Framework

    OpenAIRE

    Abdul Rashid; Tayyaba Razzaq

    2010-01-01

    We develop a structural econometric model of import demand for Pakistan, with binding foreign exchange constraint. ARDL and DOLS techniques are used to estimate the log-run coefficients of price and income elasticities. The empirical results from ARDL bound testing approach and Johansen’s method for cointegration show strong evidence of the existence of a long-run stable relationship among the variables included in the import demand model. The price and income elasticity estimates have correc...

  15. Psychopathology and tobacco demand.

    Science.gov (United States)

    Farris, Samantha G; Aston, Elizabeth R; Zvolensky, Michael J; Abrantes, Ana M; Metrik, Jane

    2017-08-01

    Behavioral economic measurement of the relative value of tobacco (Cigarette Purchase Task; CPT) is used to examine individual differences in motivation for tobacco under certain contexts. Smokers with psychopathology, relative to those without, may demonstrate stronger demand for tobacco following a period of smoking deprivation, which could account for disparate rates of smoking and cessation among this subgroup. Participants (n=111) were community-recruited adult daily smokers who completed the CPT after a deprivation period of approximately 60min. Presence of psychopathology was assessed via clinical interview; 40.5% (n=45) of the sample met criteria for past-year psychological diagnosis. Specifically, 31.5% (n=35) had an emotional disorder (anxiety/depressive disorder), 17.1% (n=19) had a substance use disorder, and 19.1% of the sample had more than one disorder. Smokers with any psychopathology showed significantly higher intensity (demand at unrestricted cost; $0) and O max (peak expenditure for a drug) relative to smokers with no psychopathology. Intensity was significantly higher among smokers with an emotional disorder compared to those without. Smokers with a substance use disorder showed significantly higher intensity and O max , and lower elasticity, reflecting greater insensitivity to price increases. Having≥2 disorders was associated with higher intensity relative to having 1 or no disorders. Findings suggest that presence of psychopathology may be associated with greater and more persistent motivation to smoke. Future work is needed to explore the mechanism linking psychopathology to tobacco demand. Copyright © 2017 Elsevier B.V. All rights reserved.

  16. Household consumer debt, endogenous money and growth: A supermultiplier-based analysis

    Directory of Open Access Journals (Sweden)

    Riccardo Pariboni

    2016-09-01

    Full Text Available The paper provides a simple theoretical framework to assess the macroeconomic implications of debt-fuelled consumption. In particular, the analysis is conducted through an extended super-multiplier model with endogenous credit money, which highlights the role of the autonomous components of demand, and in particular autonomous consumption, as the main drivers of economic growth. The author sketches a comparison with alternative heterodox formulations. He argues that, unlike the neo-Kaleckian models, in the model proposed here output growth adjusts to the path of debt-financed consumption. Having treated investment as fully induced, it follows that also the rate of capital accumulation adjusts to the rate of growth, which is itself determined by the evolution of autonomous demand. Finally, it is shown that the stability of the ratio of debt to debtors’ income is affected, among other things, by the growth differential between workers’ autonomous consumption (and debt and the other autonomous components of demand, i.e. public expenditure and capitalists’ autonomous consumption. JEL Classification: E11, E12, E44, G01

  17. Coordinating a two-echelon supply chain under inflation and time value of money

    Directory of Open Access Journals (Sweden)

    B.C. Giri

    2011-10-01

    Full Text Available In the current global economic scenario, inflation plays a vital role in deciding optimal pricing of goods in any business entity. This paper develops a two-echelon (manufacturer-buyer supply chain model taking into account inflation and time value of money. The present value of the total cost of the supply chain is derived when the manufacturer produces a number of lots, the sum of which is equal to the buyer’s total demand over a time horizon and the manufacturer’s each production lot is delivered to the buyer in n shipments. The optimal solution of the model is obtained for a numerical example after some adjustments (required to exhibit feasibility in the derived solution. Sensitivity analysis is also carried out in order to examine the effects of changes in model-parameters on the optimal solution.

  18. Value For Money Audit Suatu Instrumen Alternatif untuk Menciptakan Akuntabilitas Publik Pemerintah Daerah

    Directory of Open Access Journals (Sweden)

    Suryo Pratolo

    2016-02-01

    Full Text Available Regional autonomy has been running for almost two years, a lot of comments about the success of regional autonomy, both positive and negative. Comments indeed very necessary, but the main thing is how to make regional autonomy which is the people's demands to be more perfect and more perfect. One measure of the success of decentralization is the creation of "good governance" in which the "good governance" has many dimensions one of which is the dimension of public accountability. In this article the authors examine about public accountability in relation to the responsibilities of the regional head regulated in PP 108 in 2000. According to the author for the creation of public accountability of local government, required an auditing mechanism to support Parliament in assessing the accountability of regional heads. One alternative in the audit is "Value for Money Audit".

  19. 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

  20. 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.

  1. 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.

  2. 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.

  3. Road infrastructure and demand induction

    DEFF Research Database (Denmark)

    Nielsen, Thomas Alexander Sick; Hovgesen, Henrik Harder; Lahrmann, Harry

    2006-01-01

    a long screenline is used to measure the development in aggregate demand in selected corridors. The paper analyses demand induction by establishing time series of aggregate demand that is compared with the national traffic index. Significant trend breaks in the association between aggregate demand...... in the corridors and the national index, following the opening of motorways or bridges, indicates demand induction by infrastructure expansion in a number of instances. Lack of significant trend breaks following opening year is found in peripheral areas where major population centres are missing. This indicates...... the necessity of some latent demand within suitable travel range for new infrastructure elements to produce significant amounts of induced demand. Estimates of demand induction as a percentage of the realised demand five years after opening are between 10% and 67% for new motorway sections depending...

  4. Demand response in energy markets

    International Nuclear Information System (INIS)

    Skytte, K.; Birk Mortensen, J.

    2004-11-01

    Improving the ability of energy demand to respond to wholesale prices during critical periods of the spot market can reduce the total costs of reliably meeting demand, and the level and volatility of the prices. This fact has lead to a growing interest in the short-run demand response. There has especially been a growing interest in the electricity market where peak-load periods with high spot prices and occasional local blackouts have recently been seen. Market concentration at the supply side can result in even higher peak-load prices. Demand response by shifting demand from peak to base-load periods can counteract the market power in the peak-load. However, demand response has so far been modest since the current short-term price elasticity seems to be small. This is also the case for related markets, for example, green certificates where the demand is determined as a percentage of the power demand, or for heat and natural gas markets. This raises a number of interesting research issues: 1) Demand response in different energy markets, 2) Estimation of price elasticity and flexibility, 3) Stimulation of demand response, 4) Regulation, policy and modelling aspects, 5) Demand response and market power at the supply side, 6) Energy security of supply, 7) Demand response in forward, spot, ancillary service, balance and capacity markets, 8) Demand response in deviated markets, e.g., emission, futures, and green certificate markets, 9) Value of increased demand response, 10) Flexible households. (BA)

  5. "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

  6. Video on demand

    Science.gov (United States)

    Hayes, John R.; Kerner, Martin

    1994-11-01

    Video on demand (VOD) is expected to be the first of many Video Dial Tone (VDT) services that will bring broadband connections to residential customers. Significant research is being undertaken to identify cost effective broadband access technologies. However, much less effort has been expended on video servers and backbone architectures. In this publication we highlight what we believe are the issues relevant to obtaining a critical understanding of the VDT architecture. These issues are shared between the video server and its storage elements, and the placement of key architectural elements (transport, storage and switching) within the network. In particular, it will be argued that establishing a balance between centralized and distributed storage of movies plays a key role in optimizing the backbone network. It also places new requirements on server architecture. Intuitively, storing copies of popular movies close to the users (e.g. in the central office) reduces demand on the network, while hauling movies from a central storage location (e.g. the VIP site) potentially increases utilization of storage resources and hence the number of movies in the system and the resulting cost of storage.

  7. 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.

  8. 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

  9. 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.

  10. '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...

  11. 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....

  12. 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)

  13. 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 ...

  14. An accurate European option pricing model under Fractional Stable Process based on Feynman Path Integral

    Science.gov (United States)

    Ma, Chao; Ma, Qinghua; Yao, Haixiang; Hou, Tiancheng

    2018-03-01

    In this paper, we propose to use the Fractional Stable Process (FSP) for option pricing. The FSP is one of the few candidates to directly model a number of desired empirical properties of asset price risk neutral dynamics. However, pricing the vanilla European option under FSP is difficult and problematic. In the paper, built upon the developed Feynman Path Integral inspired techniques, we present a novel computational model for option pricing, i.e. the Fractional Stable Process Path Integral (FSPPI) model under a general fractional stable distribution that tackles this problem. Numerical and empirical experiments show that the proposed pricing model provides a correction of the Black-Scholes pricing error - overpricing long term options, underpricing short term options; overpricing out-of-the-money options, underpricing in-the-money options without any additional structures such as stochastic volatility and a jump process.

  15. Monetary Policy Rules, Supply Shocks, and the Price-Level Elasticity of Aggregate Demand: A Graphical Examination.

    Science.gov (United States)

    Kyer, Ben L.; Maggs, Gary E.

    1995-01-01

    Utilizes two-dimensional price and output graphs to demonstrate the way that the price-level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks. Includes graphs illustrating price-level, real Gross Domestic Product (GDP), nominal GDP, and nominal money supply targeting.…

  16. Calcium stable isotope geochemistry

    Energy Technology Data Exchange (ETDEWEB)

    Gausonne, Nikolaus [Muenster Univ. (Germany). Inst. fuer Mineralogie; Schmitt, Anne-Desiree [Strasbourg Univ. (France). LHyGeS/EOST; Heuser, Alexander [Bonn Univ. (Germany). Steinmann-Inst. fuer Geologie, Mineralogie und Palaeontologie; Wombacher, Frank [Koeln Univ. (Germany). Inst. fuer Geologie und Mineralogie; Dietzel, Martin [Technische Univ. Graz (Austria). Inst. fuer Angewandte Geowissenschaften; Tipper, Edward [Cambridge Univ. (United Kingdom). Dept. of Earth Sciences; Schiller, Martin [Copenhagen Univ. (Denmark). Natural History Museum of Denmark

    2016-08-01

    This book provides an overview of the fundamentals and reference values for Ca stable isotope research, as well as current analytical methodologies including detailed instructions for sample preparation and isotope analysis. As such, it introduces readers to the different fields of application, including low-temperature mineral precipitation and biomineralisation, Earth surface processes and global cycling, high-temperature processes and cosmochemistry, and lastly human studies and biomedical applications. The current state of the art in these major areas is discussed, and open questions and possible future directions are identified. In terms of its depth and coverage, the current work extends and complements the previous reviews of Ca stable isotope geochemistry, addressing the needs of graduate students and advanced researchers who want to familiarize themselves with Ca stable isotope research.

  17. Demand for male contraception.

    Science.gov (United States)

    Dorman, Emily; Bishai, David

    2012-10-01

    The biological basis for male contraception was established decades ago, but despite promising breakthroughs and the financial burden men increasingly bear due to better enforcement of child support policies, no viable alternative to the condom has been brought to market. Men who wish to control their fertility must rely on female compliance with contraceptives, barrier methods, vasectomy or abstinence. Over the last 10 years, the pharmaceutical industry has abandoned most of its investment in the field, leaving only nonprofit organisations and public entities pursuing male contraception. Leading explanations are uncertain forecasts of market demand pitted against the need for critical investments to demonstrate the safety of existing candidate products. This paper explores the developments and challenges in male contraception research. We produce preliminary estimates of potential market size for a safe and effective male contraceptive based on available data to estimate the potential market for a novel male method.

  18. PROOF on Demand

    International Nuclear Information System (INIS)

    Malzacher, Peter; Manafov, Anar

    2010-01-01

    PROOF on Demand (PoD) is a set of utilities, which allows starting a PROOF cluster at user request, on any resource management system. It provides a plug-in based system, which allows to use different job submission frontends, such as LSF or gLite WMS. Main components of PoD are the PROOFAgent and the PAConsole. PROOFAgent provides the communication layer between the PROOF master on the local machine and the PROOF workers on the remote resources, possibly behind a firewall. PAConsole provides a user-friendly GUI, which is used to setup, manage, and shutdown the dynamic PROOF cluster. Installation is simple and doesn't require administrator privileges, and all the processes run in user space. PoD gives users, who don't have a centrally-administrated static PROOF cluster at their institute, the possibility to enjoy the full power of interactive analysis with PROOF.

  19. Animating the Ethical Demand

    DEFF Research Database (Denmark)

    Vistisen, Peter; Jensen, Thessa; Poulsen, Søren Bolvig

    2015-01-01

    This paper addresses the challenge of attaining ethical user stances during the design process of products and services and proposes animation-based sketching as a design method, which supports elaborating and examining different ethical stances towards the user. The discussion is qualified...... by an empirical study of Responsible Research and Innovation (RRI) in a Triple Helix constellation. Using a three-week long innovation workshop, U- CrAc, involving 16 Danish companies and organisations and 142 students as empirical data, we discuss how animation-based sketching can explore not yet existing user...... dispositions, as well as create an incentive for ethical conduct in development and innovation processes. The ethical fulcrum evolves around Løgstrup’s Ethical Demand and his notion of spontaneous life manifestations. From this, three ethical stances are developed; apathy, sympathy and empathy. By exploring...

  20. The Shadow Economy of Czech Republic and Tax Evasion: The Currency Demand Approach

    Directory of Open Access Journals (Sweden)

    Dennis Nchor

    2016-01-01

    Full Text Available This study investigates the shadow economy of Czech Republic and the associated losses in tax revenue. The presence of a shadow economy may not necessarily be bad for the economies in which they prevail but they could cause huge losses to government revenue and could also constitute serious violation of labour regulations. The study uses the Currency Demand Approach. It measures the size of the shadow economy in two stages: a the econometric estimation of an aggregate money demand equation b the calculation of the value of the shadow economy through the quantity theory of money. The key variables in the study include: the total currency held outside the banking system, the number of automatic teller machines, the deposit interest rate, GDP deflator, the average tax, velocity of money, nominal GDP and nominal money supply. The results from the study show that the shadow economy of Czech Republic on the average is about 20.9 % as at the end of 2013 and the country loses an average tax revenue of about 7.2 % of GDP yearly. The data was obtained from the World Bank country indicators and the International Financial Statistics.

  1. 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

  2. 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…

  3. 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, ...

  4. 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.

  5. 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

  6. 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.

  7. 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.

  8. 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…

  9. 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…

  10. 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...

  11. 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....

  12. 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

  13. 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

  14. 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…

  15. 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.

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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…

  1. 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

  2. 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

  3. 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

  4. 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…

  5. 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.

  6. 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.

  7. 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 ...

  8. 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

  9. 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".

  10. 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

  11. 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…

  12. 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...

  13. 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.

  14. 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.…

  15. 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)

  16. 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.

  17. 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...

  18. 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 ...

  19. 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

  20. 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.

  1. 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...

  2. Evolutionary Stable Strategy

    Indian Academy of Sciences (India)

    2016-08-26

    Aug 26, 2016 ... Home; Journals; Resonance – Journal of Science Education; Volume 21; Issue 9. Evolutionary Stable Strategy: Application of Nash Equilibrium in Biology. General ... Using some examples of classical games, we show how evolutionary game theory can help understand behavioural decisions of animals.

  3. The Stable Concordance Genus

    OpenAIRE

    Kearney, M. Kate

    2013-01-01

    The concordance genus of a knot is the least genus of any knot in its concordance class. Although difficult to compute, it is a useful invariant that highlights the distinction between the three-genus and four-genus. In this paper we define and discuss the stable concordance genus of a knot, which describes the behavior of the concordance genus under connected sum.

  4. Manifolds admitting stable forms

    Czech Academy of Sciences Publication Activity Database

    Le, Hong-Van; Panák, Martin; Vanžura, Jiří

    2008-01-01

    Roč. 49, č. 1 (2008), s. 101-11 ISSN 0010-2628 R&D Projects: GA ČR(CZ) GP201/05/P088 Institutional research plan: CEZ:AV0Z10190503 Keywords : stable forms * automorphism groups Subject RIV: BA - General Mathematics

  5. Stable isotope studies

    International Nuclear Information System (INIS)

    Ishida, T.

    1992-01-01

    The research has been in four general areas: (1) correlation of isotope effects with molecular forces and molecular structures, (2) correlation of zero-point energy and its isotope effects with molecular structure and molecular forces, (3) vapor pressure isotope effects, and (4) fractionation of stable isotopes. 73 refs, 38 figs, 29 tabs

  6. Interactive Stable Ray Tracing

    DEFF Research Database (Denmark)

    Dal Corso, Alessandro; Salvi, Marco; Kolb, Craig

    2017-01-01

    Interactive ray tracing applications running on commodity hardware can suffer from objectionable temporal artifacts due to a low sample count. We introduce stable ray tracing, a technique that improves temporal stability without the over-blurring and ghosting artifacts typical of temporal post-pr...

  7. The stable subgroup graph

    Directory of Open Access Journals (Sweden)

    Behnaz Tolue

    2018-07-01

    Full Text Available In this paper we introduce stable subgroup graph associated to the group $G$. It is a graph with vertex set all subgroups of $G$ and two distinct subgroups $H_1$ and $H_2$ are adjacent if $St_{G}(H_1\\cap H_2\

  8. "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.…

  9. Environment-quality demands

    International Nuclear Information System (INIS)

    Delfini, M.G.; Leenhouts, H.P.

    1988-12-01

    In the framework of the Environment Quality Requirements (MKE) project a model has been designed in which environment-quality demands have been defined and quantified, and a measuring strategy has been developed. In the model it is required for the quality of the environment that the radionuclide concentration in the various environment compartiments remains limited in order to keep the effective dose equivalence for the 'reference man' under a certain reference level. In order to be able to determine the maximum nuclide concentration it is necessary to quantify the relation between the concentration in the environment and the dose for the people. The quantitative relation between concentration and dose has been established on the base of parameters (Derived Activity Limits (DAL's) which have to be calculated for each environment compartiment, each nuclide and each exposure pathway. This model has been described and, as example, the DAL's have been calculated for the compartiment air (for which the two exposure pathways inhalation and direct radiation were considered). For the other environment compartiments a similar elaboration is needed. The feasibility of application of the MKE-model in the actual practice of measurements in the environment and examination of dose for the population depends upon the possibility for performing nuclide specific measurements in all environment compartiments, the level of the dose resulting from the contamination of the environment and the related accurateness of the measurements

  10. What causes Irish recessions: fluctuations in aggregate demand or aggregate supply?

    OpenAIRE

    Cosgrove, Karen; Roche, Maurice

    1994-01-01

    The new classical view of the market economy is used to impose restrictions on a vector autoregression of output, interest rates, prices and money, to identify aggregate demand and supply structural disturbances. We use the estimated structural vector autoregression to decompose Irish GDP growth into components associated with major macroeconomic disturbances in order to identify the likely causes of Irish recessions. The results suggest that recessions in the 1970s were mainly due to aggr...

  11. Demand for Reserves and the Central Bank's Management of Interest Rates

    OpenAIRE

    Martin Schlegel; Sébastien Kraenzlin

    2009-01-01

    The implementation of monetary policy is prevalently done by interest rate targeting with a short term market rate serving as operational target. The instruments for achieving the operational target are the provision of reserves and the interest rate charged in these transactions. This paper presents a model for the estimation of the demand curve for reserves, derived from the central bank's fixed rate tender auction and the interbank money market. Using data from Switzerland, the slope of th...

  12. 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)

  13. 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 ...

  14. 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.

  15. 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...

  16. 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 ...

  17. 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 ...

  18. 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...

  19. 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...

  20. 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.

  1. 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...

  2. 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

  3. Stable isotope analysis

    International Nuclear Information System (INIS)

    Tibari, Elghali; Taous, Fouad; Marah, Hamid

    2014-01-01

    This report presents results related to stable isotopes analysis carried out at the CNESTEN DASTE in Rabat (Morocco), on behalf of Senegal. These analyzes cover 127 samples. These results demonstrate that Oxygen-18 and Deuterium in water analysis were performed by infrared Laser spectroscopy using a LGR / DLT-100 with Autosampler. Also, the results are expressed in δ values (‰) relative to V-SMOW to ± 0.3 ‰ for oxygen-18 and ± 1 ‰ for deuterium.

  4. Forensic Stable Isotope Biogeochemistry

    Science.gov (United States)

    Cerling, Thure E.; Barnette, Janet E.; Bowen, Gabriel J.; Chesson, Lesley A.; Ehleringer, James R.; Remien, Christopher H.; Shea, Patrick; Tipple, Brett J.; West, Jason B.

    2016-06-01

    Stable isotopes are being used for forensic science studies, with applications to both natural and manufactured products. In this review we discuss how scientific evidence can be used in the legal context and where the scientific progress of hypothesis revisions can be in tension with the legal expectations of widely used methods for measurements. Although this review is written in the context of US law, many of the considerations of scientific reproducibility and acceptance of relevant scientific data span other legal systems that might apply different legal principles and therefore reach different conclusions. Stable isotopes are used in legal situations for comparing samples for authenticity or evidentiary considerations, in understanding trade patterns of illegal materials, and in understanding the origins of unknown decedents. Isotope evidence is particularly useful when considered in the broad framework of physiochemical processes and in recognizing regional to global patterns found in many materials, including foods and food products, drugs, and humans. Stable isotopes considered in the larger spatial context add an important dimension to forensic science.

  5. 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...

  6. 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...

  7. 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...

  8. 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...

  9. 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...

  10. 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...

  11. 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...

  12. 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...

  13. 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...

  14. 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...

  15. 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...

  16. 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...

  17. 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. ...

  18. 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...

  19. 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...

  20. 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...