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Sample records for stable money demand

  1. Money Demand in Latvia

    OpenAIRE

    Ivars Tillers

    2004-01-01

    The econometric analysis of the demand for broad money in Latvia suggests a stable relationship of money demand. The analysis of parameter exogeneity indicates that the equilibrium adjustment is driven solely by the changes in the amount of money. The demand for money in Latvia is characterised by relatively high income elasticity typical for the economy in a monetary expansion phase. Due to stability, close fit of the money demand function and rapid equilibrium adjustment, broad money aggreg...

  2. 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...

  3. 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...

  4. 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.

  5. 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.

  6. Pattern of Demand For Money

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    Ahmad Berlian

    2017-12-01

    Full Text Available In the activity of the modern economy, the availability of money as a means of transaction is very important, because with the money as a means to pay consumers can easily to get the basic material needs are required, the manufacturer can provide the raw materials of labor for production, and distributors can obtain a variety of merchandise to be delivered at the end consumer. The pattern of use of money is influenced by the attitude of the public in the transaction. Researchers assume, that there are differences among communities, either by group differences in income, educational differences, ethnic differences, differences in profession, and perhaps even religious differences embraced. So as to provide information to the monetary authorities, to enrich the theory of demand for money based economic agents in Indonesia, and for the application of the theory of demand for money, the researchers felt the need to study patterns of use of money. Qualitative research, in addition to knowing whether the variables that affect the demand for money as the above theory is still relevant for economic actors in Indonesia at this time, or even are new variables, as well as the motive of money demand. Keywords: Demand for money, Keynes Theory, qualitative method

  7. Error Correction Model of the Demand for Money in Pakistan

    OpenAIRE

    Qayyum, Abdul

    1998-01-01

    The paper estimated dynamic demand for money (Currency) function for Pakistan. it is concluded that in the long run money demand depends on income, rate of inflation and bond rate. The rate of Inflation and rate of interst on deposits emerged as important determinant of money demand in the short run. Moreover dynamic model remans stable througtout the study period.

  8. Asset Substitution, Money Demand, and the Inflation Process in Brazil.

    OpenAIRE

    Calomiris, Charles W; Domowitz, Ian

    1989-01-01

    Various domestic financial assets in Brazil have provided relatively liquid nonmonetary alternatives. Monthly money demand estimates, which include domestic asset opportunity costs and take account of T-bill repurchase agreements in a dynamic error-correction model, demonstrate the importance of domestic substitutes in explaining money holdings. Money demand appears responsive and stable. Moreover, T-bills and indexed bonds have acted as an alternative to central bank liabilities as a source ...

  9. 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...

  10. Measuring Money Demand Function in Pakistan

    OpenAIRE

    Hassan, Shahid; Ali, Umbreen; Dawood, Mamoon

    2016-01-01

    This study investigates the factors such as interest rate, GDP per capita, exchange rate, fiscal deficit, urban and rural population to determine money demand function for Pakistan over the period from 1972-2013. We use ARDL Bound Testing approach in order to test long run relation between money demand and its factors whereas both long and short run coefficients will be found using similar approach. The results show that real interest rate exerts significant and negative effect upon money dem...

  11. Money Demand and Inflation in Dollarized Economies; The Case of Russia

    OpenAIRE

    Franziska L Ohnsorge; Nienke Oomes

    2005-01-01

    Money demand in dollarized economies often appears to be highly unstable, making it difficult to forecast and control inflation. In this paper, we show that a stable money demand function for Russia can be found for "effective broad money," which includes an estimate of foreign cash holdings. Moreover, we find that an excess supply of effective broad money is inflationary, while other excess money measures are not, and that effective broad money growth has the strongest and most persistent ef...

  12. 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...

  13. 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...

  14. Dynamic Analysis of Money Demand Function: Case of Turkey*

    OpenAIRE

    doğru, bülent

    2013-01-01

    In this paper, the dynamic determinants of money demand function and the long-run and short-run relationships between money demand, income and nominal interest rates are examined in Turkey for the time period 1980-2012. In particular we estimate a dynamic specification of a log money demand function based on Keynesian liquidity preference theory to ascertain the relevant elasticity of money demand. The empirical results of the study show that in Turkey inflation, exchange rate and money deman...

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

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    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.

  16. 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 ...

  17. Money growth volatility and the demand for money in Germany: Friedman's volatility hypothesis revisited

    OpenAIRE

    Brüggemann, Imke; Nautz, Dieter

    1997-01-01

    Recently, the Bundesbank claimed that monetary targeting has become considerably more diffcult by the increased volatility of short-term money growth. The present paper investigates the impact of German money growth volatility on income velocity and money demand in view of Friedman's money growth volatility hypothesis. Granger-causality tests provide some evidence for a velocity-volatility linkage. However the estimation of volatility-augmented money demand functions reveals that - in contras...

  18. Cross-country Evidence on the Demand for Money

    OpenAIRE

    Serletis , Apostolos; Vaccaro , Jason

    2006-01-01

    In this article we examine money demand issues using cross-country data, for 48 countries over the 1980-1995 period. In particular, we investigate conventional money demand functions, for both narrow and broad aggregates, and the role that institutions, financial structure and financial development may have in the demand for money. On the basis of possible heterogeneity within the cross-country data set, we exploit Bayesian classification and finite mixture models to partition the data based ...

  19. Housing wealth and US money demand : A panel estimation

    NARCIS (Netherlands)

    Arnold, I.J.M.; Roelands, S.

    2011-01-01

    This article estimates a panel model for U.S. money demand using annual state-level data for the period from 1977 to 2008. We incorporate housing wealth in the demand-for-money function and find strong evidence of a relationship between a broad monetary aggregate and housing wealth. This finding is

  20. Money, prices and liquidity effects: Separating demand from supply

    OpenAIRE

    Chadha, Jagjit S.; Corrado, Luisa; Sun, Qi

    2008-01-01

    In the canonical monetary policy model, money is endogenous to the optimal path for interest rates and output. But when liquidity provision by banks dominates the demand for transactions money from the real economy, money is likely to contain information for future output and inflation because of its impact on financial spreads. And so we decompose broad money into primitive demand and supply shocks. We find that supply shocks have dominated the time series in both the UK and the US in the sh...

  1. Money demand elasticity, effective money supply and money market disequilibrium: ¡°China¡¯s Puzzle¡± and long-term excessive liquidity

    OpenAIRE

    LI Zhiguo

    2008-01-01

    Chinese excessive liquidity problems are more serious than other main countries. The upgrading industrial structure and the increasing opening degree lead to the excessive money demand and higher money demand elasticity. Bad credits weaken money supply effectiveness and lead to illusive increasing money. We set up the money market disequilibrium model under the condition of the excessive liquidity. The imbalance between money demand and money supply is the key of Chinese excessive liquidity p...

  2. Ageing, property prices and money demand

    OpenAIRE

    Kiyohiko Nishimura; Elod Takáts

    2012-01-01

    When the baby boomers joined the workforce and started saving, money supply and property prices entered a rising trajectory. We conclude that demography was the long-run driver of this process, basing our argument on data from 22 advanced economies for the 1950-2010 period. According to our lifecycle model, large working-age populations saved for their old age by investing in property and broad money instruments, such as deposits. In the past, savings activity by baby boomers drove up propert...

  3. 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...... by the macroeconomic model....

  4. 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.

  5. Panel Data Evidence on the Demand for Money

    OpenAIRE

    Serletis, Apostolos; Vaccaro, Jason

    2006-01-01

    This paper examines the demand for money using panel data for 48 countries over the 1980-95 time period. In our examination of the conventional money demand function, we begin by empirically exploiting traditional panel methodology and fi nd support for heterogeneity among the countries. However, specifi cation and diagnostic tests also indicate serial correlation in all of the estimated models. Recent state-of-the art advances in panel unit root and panel cointegration methodology allow us t...

  6. Demand for money and shortages in Ethiopia

    NARCIS (Netherlands)

    Sterken, E.

    2004-01-01

    The paper discusses the long-run monetary conditions in Ethiopia in the last three decades. These decades can be characterized by large political changes, leading to shocks on income and population growth, and two serious periods of drought. Both affected inflation and real demand for M-1 through

  7. The Demand for Divisia Money in the United States: A Dynamic Flexible Demand System.

    OpenAIRE

    Serletis, Apostolos

    1991-01-01

    This paper applies the Anderson and Blundell (1982) approach to the analysis of the demand for money and attempts to establish the nature of the relationship between Divisia money, defined from narrow to broad, and the "nested like assets" at different levels of aggregation. This is achieved by conducting the analysis within a microtheoretical framework--utilizing the demand system approach--and by estimating a sequence of nested dynamic specifications and performing tests of the nested struc...

  8. Adaptive Estimation of Heteroscedastic Money Demand Model of Pakistan

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    Muhammad Aslam

    2007-07-01

    Full Text Available For the problem of estimation of Money demand model of Pakistan, money supply (M1 shows heteroscedasticity of the unknown form. For estimation of such model we compare two adaptive estimators with ordinary least squares estimator and show the attractive performance of the adaptive estimators, namely, nonparametric kernel estimator and nearest neighbour regression estimator. These comparisons are made on the basis standard errors of the estimated coefficients, standard error of regression, Akaike Information Criteria (AIC value, and the Durban-Watson statistic for autocorrelation. We further show that nearest neighbour regression estimator performs better when comparing with the other nonparametric kernel estimator.

  9. Demand for Money: View in Terms of Macroeconomics and Ukrainian Bank System

    OpenAIRE

    Kateryna Anufriyeva

    2014-01-01

    The article analyses the components and factors of money demand in Ukrainian financial, and, particularly, bank market conditions; such type of money demand as demand for hard currencies has been distinguished in a highly "dollarized" economy. The emphasis lays on the necessity of exploiting of the complex toolkit for money demand dynamics regulation considering macroeconomic and financial market indicators.

  10. 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...

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

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    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.

  12. 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.

  13. 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.

  14. The functions of money and the demand for liquidity

    OpenAIRE

    Claudio Sardoni

    2015-01-01

    Many Keynesian economists focus their attention on money as a store of value as a defence from uncertainty. Many others monetary economists, also quite close to the Keynesian approach in several respects, emphasise the importance of money as standard of value and means of payment. By drawing on Hicks's and Kaldor's contributions, this paper suggests an approach in which money is characterized by its two functions of standard of value and means of payment, which are inherently connected to one...

  15. Money demand in general equilibrium endogenous growth: Estimating the role of a variable interest elasticity

    OpenAIRE

    Gillman, Max; Otto, Glen

    2006-01-01

    The paper presents and tests a theory of the demand for money that is derived from a general equilibrium, endogenous growth economy, which in effect combines a special case of the shopping time exchange economy with the cash-in-advance framework. The model predicts that both higher inflation and financial innovation - that reduces the cost of credit - induce agents to substitute away from money towards exchange credit. The implied interest elasticity of money demand rises with the inflation r...

  16. A Microcomputer Program that Simulates the Baumol-Tobin Transactions Demand for Money.

    Science.gov (United States)

    Beckman, Steven

    1987-01-01

    This article describes an economic model dealing with the demand for money and a microcomputer program which enables students to experiment with cash management techniques. By simulating personal experiences, the program teaches how changes in income, interest rates, and charges for exchanging bonds and cash affect money demand. (Author/JDH)

  17. 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…

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

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    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.

  19. 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.

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

    Science.gov (United States)

    Živić, Nenad; Andjelković, Igor; Özden, Tolga; Dekić, Milovan; Castronova, Edward

    2017-01-01

    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.

  1. Understanding Money Demand in the Transition from a Centrally Planned to a Market Economy

    OpenAIRE

    Delatte, Anne-Laure; Fouquau, Julien; Holz, Carsten

    2013-01-01

    Fundamental changes in institutions during the transition from a centrally planned to a market economy present a formidable challenge to monetary policy decision makers. For the case of China, we examine the institutional changes in the monetary system during the process of transition and develop money demand functions that reflect these institutional changes. We consider seasonal unit roots and estimate long run, equilibrium money demand functions, explicitly taking into consideration the ch...

  2. 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.

  3. 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.

  4. 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.)

  5. Monetary policy efficiency in the euro zone: some empirical evidence of money demand stability and endogeneity

    Directory of Open Access Journals (Sweden)

    Kapounek, S.

    2010-12-01

    Full Text Available The primary target of most central banks in developed economies is to maintain price stability. When there is no threat to the fulfilment of the primary target, the central bank focuses on its secondary target which is defined as support of a sustainable economic growth and full employment. Even though, a substantial part of the discussions regarding the targets of the central banks focus on price stability, the real target is to support a sustainable economic growth, especially to stabilize the fluctuation in the economic activity.This paper focuses on the current problems of monetary policy implementation in the Eurozone. Firstly, the author focus on the money demand function estimation and its stability. Another problem lies in the Postkeynesians´ assumptions of money endogeneity. Although central banks may have certain control over the money supply, they cannot fix the stock of money in a country. Different trends in monetary aggregates fluctuation contribute to reject the money exogeneity hypothesis.

  6. 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.

  7. The (in)stability of money demand in the Euro Area: Lessons from a cross-country analysis

    OpenAIRE

    Nautz, Dieter; Rondorf, Ulrike

    2010-01-01

    The instability of standard money demand functions has undermined the role of monetary aggregates for monetary policy analysis in the euro area. This paper uses country-specific monetary aggregates to shed more light on the economics behind the instability of euro area money demand. Our results obtained from panel estimation indicate that the observed instability of standard money demand functions could be explained by omitted variables like e.g. technological progress that are important for ...

  8. Saving money vs investing money: Do energy ratings influence consumer demand for energy efficient goods?

    International Nuclear Information System (INIS)

    Panzone, Luca A.

    2013-01-01

    The article analyses economic barriers leading to the energy efficiency gap in the market for energy-using products by observing several million transactions in the UK over two years. The empirical exercise estimates AIDS models for refrigerators, washing machines, TVs, and light bulbs. Results indicate that market barriers are crucial in the demand for energy efficient options, and consumer response to changes in appliance prices, total expenditures, and energy prices depends on the possibility of behavioural adjustments in consumption. In contrast with the induced innovation hypothesis, current electricity prices can fail to induce innovation because of their short-term impact on disposable income, while consumers invest in energy efficiency when expecting electricity prices to rise in the future. - Highlights: • The article analyses economic barriers to energy efficiency in the UK. • Data refers to 2-year sales of refrigerators, washing machines, TV, and light bulbs. • Demand parameters by efficiency rating are estimated from four AIDS models. • Future (not present) electricity prices induce investments in energy efficiency. • Behavioural efficiency adjustments explain differences in market response

  9. The Currency Substitution Hypothesis and Relative Money Demand in Mexico and Canada.

    OpenAIRE

    Rogers, John H

    1992-01-01

    The author estimates demand for dollars relative to domestic currency in Mexico and Canada using (1) a multivariate model with a relative money demand equation, and (2) single- equation models, including an error-correction representation. He also analyzes the models' encompassing properties. The anomalous correlation between the Mexican dollarization ratio and expected peso depreciation implies that "convertibility risk" was associated with holding Mexidollars. Under this interpretation, hig...

  10. 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

  11. An EOQ Model with Stock-Dependent Demand under Two Levels of Trade Credit and Time Value of Money

    OpenAIRE

    H.A.O. Jia-Qin; M.O. Jiangtao

    2013-01-01

    Since the value of money changes with time, it is necessary to take account of the influence of time factor in making the replenishment policy. In this study, to investigate the influence of the time value of money to the inventory strategy, an inventory system for deteriorating items with stock-dependent demand is investigated under two levels of trade credit. The method to efficiently determine the optimal cycle time is presented. Numerical examples are provided to demonstrate the model and...

  12. 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.)

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

    Directory of Open Access Journals (Sweden)

    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.

  14. 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.

  15. Debate: Money, Money, Money

    Directory of Open Access Journals (Sweden)

    Nina Ilona Ellinger

    2014-09-01

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

  16. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

  18. Para Talebinin Belirleyenleri ve İstikrarı Üzerine Bir Uygulama: Türkiye Örneği(An Analysis on Determinants and Stability of Money Demand: The Case of Turkey

    Directory of Open Access Journals (Sweden)

    Burcu ÖZCAN

    2013-12-01

    Full Text Available In this study, the stability of money demand is investigated using monthly data for the period 2005:12- 2012:10. First, the presence of a long-run equilibrium relationship among M2 monetary aggregate, real income, interest rate, and exchange rate is examined through Johansen cointegration test. After that, stability of money demand is analyzed using CUSUM and CUSUMSQ tests. The results are in support of a long-run relationship among variables of interest. However, stability of money demand function is rejected. Thus, it is not efficient for Central Bank of Turkey to apply a monetary policy based on M2 monetary aggregate.

  19. 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

  20. Hume and Endogenous Money

    OpenAIRE

    Maria Pia Paganelli

    2006-01-01

    David Hume’s monetary theory has three standard yet inconsistent readings. As a forefather of the quantity theory of money, Hume sees money as neutral. As an inflationist, Hume sees an active positive role for monetary policy. As a monetarist, Hume sees an active positive role for monetary policy only in the short run. This paper reads Hume consistently instead by showing that for Hume money is endogenous and demand-driven. Hume would read the money equation in terms of reverse causation and ...

  1. 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 ...

  2. 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.

  3. Combinatorial Auctions without Money

    Science.gov (United States)

    2014-05-01

    istence of thresholds (a.k.a., critical prices) (for every set). The result in Theorem 3.4 relates to the characterization of truthful CAs with money and no...with money and no verification, each bidder optimizes her valu- ation minus the critical price over all her demanded sets; in the setting without money...auctions. ICALP, pp. 90-101, 2010. [2] P. Briest, P. Krysta, and B. Vöcking. Approximation techniques for utilitarian mechanism design. STOC, pp. 39-48

  4. Money Supply as the Target of the Central Bank

    Directory of Open Access Journals (Sweden)

    Jędruchniewicz Andrzej

    2014-06-01

    Full Text Available The main purpose of the article is a critical analysis of the monetary policy strategy that is based on the adoption of money supply as an intermediate target. The analysis is conducted from the perspective of the theory of the Austrian school. The first part of the article presents an influence of the supply of money on changes of categories in economy according to mainstream theories of economics. The second part discusses the essence of the strategy of monetary policy using money supply as an intermediate target from the point of view of the main trend in economics. It is demonstrated that in order to use it, two elementary conditions must be met: the function of demand for money must be at least relatively stable and the central bank must practically shape changes in the money supply at the planned level. The third part is of key importance for the purpose of this article. It involves the criticism of Friedman’s principle, i.e. a constant increase in money supply as a monetary strategy. According to the Austrian theory, an increase in the quantity of money which is not financed by voluntary savings separates the time structure of production and consumption. Thus, after the period of prosperity there a collapse in production must take place. It is also pointed out that the crisis can be postponed only when the quantity of money increases at an ever faster rate.

  5. Money Markets

    OpenAIRE

    Marvin Goodfriend

    2011-01-01

    Money markets offer monetary services and short-term finance in the capital market with the credit support of institutional sponsors. Investors finance money market instruments at low interest because their salability on short notice confers an implicit monetary services yield. Low interest attracts borrowers to money markets. The fragile equilibrium depends on collective confidence in the credit quality of instruments supplied to the market. Federal Reserve monetary and credit policies have ...

  6. Money and the Transmission of Monetary Policy

    OpenAIRE

    Seth Carpenter; Selva Demiralp

    2009-01-01

    The transmission mechanism of monetary policy has received extensive treatment in the macroeconomic literature. Most models currently used for macroeconomic analysis exclude money or else model money demand as entirely endogenous. Nevertheless, academic research and many textbooks continue to use the money multiplier concept in discussions of money. We explore the institutional structure of the transmission mechanism beginning with open market operations through to money and loans to document...

  7. 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.

  8. 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...

  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

    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...

  11. Multiplying Money

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2013-05-01

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

  12. Follow The Money

    DEFF Research Database (Denmark)

    Batikas, Michail; Claussen, Jörg; Peukert, Christian

    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...

  13. 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.

  14. 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...... exchange instrument that relies on computer protocols to facilitate, verify, and enforce certain conditions for its appropriation as payment, e.g. who may use the money, where, and for what. If we believe that digital legal tender will become ubiquitous, then the emergence and diffusion of smart money...

  15. Money laundering

    OpenAIRE

    Kratochvílová, Eliška

    2012-01-01

    Money laundering is marginalized phenomenon with high social impact which comes from necessary connection of this activity with illegal activities, especially organized crime. Since the goal of almost every illegal activity is to create profit (and since the biggest profit comes from the activities which are highly dangerous for the society, such as drug trafficking) it is vital for the society to fight money laundering effectively. It is in the best interest of the whole society to fight thi...

  16. Making Money from Making Money

    OpenAIRE

    Macfarlane, Laurie; Ryan-Collins, Josh; Bjerg, Ole; Nielsen, Rasmus; McCann, Duncan

    2017-01-01

    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 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 prov...

  17. 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 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....

  18. 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.

  19. 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...

  20. 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.

  1. 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.

  2. 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…

  3. 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 ...

  4. Saving Money or Spending Tomorrow's Money

    Institute of Scientific and Technical Information of China (English)

    罗芳梅

    2017-01-01

    Chinese are normally believed to be thrifty.However,economic development has had a tremendous impact upon Chinese society,uprooting the long-engraved ideas.With the emergence of the credit cards,spending tomorrow's money becomes a reality.In this way,people are in dilemma:saving money or spending tomorrow's money.Firstly,this paper focuses on the benefits of spending tomorrow's money.Secondly,it shows that spending tomorrow's money is confronted with many challenges.Finally,the paper comes up with some suggestions to solve these problems.

  5. The theory of money supply: a case study

    OpenAIRE

    Taylor, Leon

    2014-01-01

    The theory of money supply is less developed than that of money demand, largely because 19th-century economists believed that money was unimportant and because they viewed the central bank as either an appendage to the economy or as a welfare-maximizing black box. The paper reviews each of these beliefs in turn.

  6. Redefining the money market

    African Journals Online (AJOL)

    Keywords: money market, monetary policy, money, financial markets. 1. ..... Both sides of the banks' consolidated balance sheet increase by USD 100 million. ... As substantiation of the statement that the KIR substantially influencing the.

  7. 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.

  8. 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).

  9. Designing New Money

    DEFF Research Database (Denmark)

    Bjerg, Ole

    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...... 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...

  10. Money Creation and Destruction

    OpenAIRE

    Faure, Salomon; Gersbach, Hans

    2017-01-01

    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...

  11. Money distribution with intermediation

    OpenAIRE

    Teles, Caio Augusto Colnago

    2013-01-01

    This pap er analyzes the distribution of money holdings in a commo dity money search-based mo del with intermediation. Intro ducing heterogeneity of costs to the Kiyotaki e Wright ( 1989 ) mo del, Cavalcanti e Puzzello ( 2010) gives rise to a non-degenerated distribution of money. We extend further this mo del intro ducing intermediation in the trading pro cess. We show that the distribution of money matters for savings decisions. This gives rises to a xed p oint problem for the ...

  12. 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.

  13. 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...

  14. 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…

  15. MONEY AND MONETARY POLICY OF THE GOVERNMENT

    Directory of Open Access Journals (Sweden)

    Tsvetan Iliev

    2017-12-01

    Full Text Available In this paper we will clarify the issues related to: the emergence of money - their functions and varieties, the specificity of their demand and supply and the main aspects of the monetary policy of the state with its effects on the economic development.

  16. Aggregate Uncertainty, Money and Banking

    OpenAIRE

    Hongfei Sun

    2006-01-01

    This paper studies the problem of monitoring the monitor in a model of money and banking with aggregate uncertainty. It shows that when inside money is required as a means of bank loan repayment, a market of inside money is entailed at the repayment stage and generates information-revealing prices that perfectly discipline the bank. The incentive problem of a bank is costlessly overcome simply by involving inside money in repayment. Inside money distinguishes itself from outside money by its ...

  17. The demand for euros

    NARCIS (Netherlands)

    Arnold, I.J.M.; Roelands, S.

    2010-01-01

    This paper investigates the demand for euros using panel data for 10 euro area countries covering the period from 1999 to 2008. Monetary aggregates are constructed to ensure that money is a national concept by excluding deposits owned by non-residents and including external deposits owned by

  18. Itinerancy of money

    Science.gov (United States)

    Yasutomi, Ayumu

    2003-09-01

    Previously, I studied [Physica D 82, 180-194 (1995)] the emergence and collapse of money in a computer simulation model. In this paper I will revisit the same topic, building a model in the same line. I discuss this problem from the viewpoint of chaotic itinerancy. Money is the most popular system for evading the difficulty of exchange under division of labor. It emerges autonomously from exchanges among selfish agents which behave as automata. And such emergent money collapses autonomously. I describe money as a structure in economic space, explaining its autonomous emergence and collapse as two phases of the same phenomenon. The key element in this phenomenon is the switch of the meaning of strategies. This is caused by the drastic change of environment caused by the emergence of a structure. This dynamics shares some aspects with chaotic itinerancy.

  19. 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.

  20. 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...

  1. A meme for money

    OpenAIRE

    Wray, L. Randall

    2012-01-01

    This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives. That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually do, money "lubricates" the market mechanism-a good thing, because the conventional view of the market itself is overwhelmingly positive. Acknowledging the work of George Lakoff, this paper takes the pos...

  2. Money market futures

    OpenAIRE

    Anatoli Kuprianov

    1992-01-01

    Virtually all financial innovation in the U.S. money market during the past 20 years has centered on interest rate derivatives, including futures and swaps. Furthermore, money market futures--especially futures contracts on Eurodollar time deposits--have been at the vanguard of the recent explosion of trading activity in interest rate derivatives. While futures markets traditionally have been viewed as markets for the transfer of price risk, recent research shows that they may serve other imp...

  3. How Endogenous Is Money? Evidence from a New Microeconomic Estimate

    OpenAIRE

    David Cuberes; William R. Dougan

    2010-01-01

    This paper uses microeconomic data on firms’ money demand and investment in physical capital for the period 1983-2006 to estimate the extent to which variation in the U.S. money supply is an endogenous response to variation in firms’ demand for liquidity. We estimate a simple model in which each firm’s desired money balances in any period depend on that firm’s current transactions, current investment, and its planned future investment, as well as aggregate variables such as interest rates an...

  4. Minding money: how understanding of value is culturally promoted.

    Science.gov (United States)

    Sato, Tatsuya

    2011-03-01

    Adding to the issues of cognitive economics (Cortes and Londoño IPBS: Integrative Psychological & Behavioral Science 43(2):178-184, 2009) and the social psychology of "shadow economics" (Salvatore et al. IPBS: Integrative Psychological & Behavioral Science 43(2), 2009), the carrier of economic exchanges, money, plays a key role in children's socialization in different societies. Money given to children, 'pocket money,' is a negotiated settlement between children's social demands and those of their parents. I analyze such negotiations here on the basis of a concrete case of a Korean family in which the provision of pocket money given the child was inconsistent over time. The results indicate the social ecology of money use, in both children and their parents, sets the stage for value construction of the meaning of money.

  5. 39 CFR 762.25 - Reclamation of amounts of paid disbursement postal money orders.

    Science.gov (United States)

    2010-07-01

    ... paid disbursement postal money orders. The Postal Service shall have the right to demand refund from the presenting bank of the amount of a paid Disbursement Postal Money Order if after payment the... another for a deceased payee where the right to the proceeds of such Disbursement Postal Money Orders...

  6. Government, Money, and International Politics

    OpenAIRE

    Hoppe, Hans-Hermann

    2003-01-01

    In this paper, the author deals with: (1) Definition of government; incentive structure under government: taxation, war and territorial expansion. (2) Origin of money; government and money; the devolution of money from commodity to fiat money. (3) International politics and monetary regimes; monetary imperialism and the drive toward a one-world central bank and fiat currency.

  7. 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.

  8. 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...

  9. 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...

  10. Money Inventories in Search Equilibrium

    OpenAIRE

    Berentsen, Aleksander

    1998-01-01

    The paper relaxes the one unit storage capacity imposed in the basic search-theoretic model of fiat money with indivisible real commodities and indivisible money. Agents can accumulate as much money as they want. It characterizes the stationary distributions of money and shows that for reasonable parameter values (e.g. production cost, discounting, degree of specialization) a monetary equilibrium exists. There are multiple stationary distributions of a given amount of money, which differ in t...

  11. Time versus money.

    Science.gov (United States)

    Monga, Ashwani; Zor, Ozum

    2018-04-21

    Consumers are known to spend both time and money. These two resources are often seen as economically comparable because the value of one's time can be equated to a monetary amount, such as one's wage rate. Recent research suggests that even when time and money are economically equivalent, they are psychologically different. We discuss how time (versus money) leads to decision making that is more heuristic rather than systematic, to an orientation that is more emotional rather than value-maximizing, to a thinking process that is more holistic rather than analytic, and to a mindset that is more abstract rather than concrete. Implications arise for a variety of domains such as consumer search, happiness, product evaluation, and charitable giving. Copyright © 2018 Elsevier Ltd. All rights reserved.

  12. How Inside Money Makes Inflation Costly For Most (but Gainful For Some)

    OpenAIRE

    William Coleman

    2007-01-01

    It is argued that inflation creates private incentives for (socially costly) inside money to supplant (socially costless) outside money. Consequently, the familiar 'shoe leather cost' of inflation, that operates through a reduced demand for money under inflation, is supplemented by a separate social cost of inflation that operates through an increased supply of (inside) money under inflation. It is further argued that allowance of the costliness of an inflation-induced expansion of inside mon...

  13. On Understanding Money

    OpenAIRE

    Martin Shubik

    2001-01-01

    Fiat money is a creation of both the state and society. Its value is supported by expectations which are conditioned by the dynamics of trust in government, the socio-economic structure and by outside events such as wars, plagues or political unrest. The micro-management of a dynamic economy is not far removed in difficulty from the micro-management of the weather. However, money and the financial institutions and instruments of a modern economy provide the means to influence expectations and...

  14. Follow The Money: Piracy and Online Advertising

    OpenAIRE

    Batikas, Michail; Claussen, Jörg; Peukert, Christian

    2017-01-01

    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" 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 o...

  15. 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 representing payoffs in real terms, the Pareto efficient equilibrium is selected. We also show that strategic uncertainty about the other players' behavior is key for the equilibrium selection effects of money illusion: even though money illusion vanishes over time if subjects are given learning opportunities...... in the context of an individual optimization problem, powerful and persistent effects of money illusion are found when strategic uncertainty prevails...

  16. Money Market Operations in FY2002

    OpenAIRE

    Open Market Operations Division

    2003-01-01

    In FY2002, the Bank of Japan (hereafter, the Bank) continued to provide ample liquidity under the high target level for current account balances held at the Bank. In the short-term money markets, the uncollateralized O/N call rate remained close to 0%, and for financial institutions, the opportunity cost of holding current account deposits at the Bank was negligible. As a result, demand for current account deposits at the Bank fluctuated widely, and a decrease in demand gave rise to under-bid...

  17. 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

  18. 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...

  19. 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...

  20. 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.

  1. The money mission matrix

    OpenAIRE

    Cuperus, Mirthe

    2017-01-01

    Social entrepreneurship is popular in current academics and other media. This thesis adds to this literature by discovering what the drivers are for sustainable social entrepreneurship. Several stakeholders were identified, creating profiles of the key players in social entrepreneurship. These stakeholders uncovered key factors that represent the drivers for sustainable social entrepreneurship. Key factors were then aligned along the two dimensions: Money and Mission. This crea...

  2. "Money in Finance"

    OpenAIRE

    L. Randall Wray

    2011-01-01

    This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial...

  3. 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...

  4. 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)

  5. Money or Education?

    DEFF Research Database (Denmark)

    Rytter, Mikkel

    2011-01-01

    Tracing life stories and family histories back to rural Punjab, I explore the development and processes of upward social mobility of the Pakistani community in Denmark from the 1960s onwards. I suggest that social mobility among Pakistani immigrants and their descendants must be seen as the outcome...... of the Danish labour market during the late 1970s and 1980s pushed them into two different long-term strategies of money or education respectively. This created a split in the Pakistani community between educated and non-educated families and shaped the second generation’s way of life in terms of, for example...

  6. Follow the money

    OpenAIRE

    Robbins RA

    2012-01-01

    No abstract available. Article truncated at 150 words. Many years ago there was a Federal whistleblower, Deep Throat, who leaked confidential Government information about the Nixon White House to reporters from the Washington Post. Fans of the book and movie will remember that his famous line was, “Follow the money.” That line came to mind when an article appeared in Health Affairs summarizing the US health care expenditures for 2010 (1). The main gist of the article is that the rate of growt...

  7. 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... REGULATIONS Reports § 501.602 Reports to be furnished on demand. Every person is required to furnish under...

  8. 31 CFR 344.9 - How do I redeem a Demand Deposit security?

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false How do I redeem a Demand Deposit security? 344.9 Section 344.9 Money and Finance: Treasury Regulations Relating to Money and Finance... security? (a) When must I notify BPD to redeem a security? A Demand Deposit security can be redeemed at the...

  9. LA FONCTION DE DEMANDE DE MONNAIE EN ALGERIE (1964 ...

    African Journals Online (AJOL)

    2 The inventory theory of demand for money. 3 The optimum ... stability of money demand in China: Evidence from the ARDL model, Economic. Systems ..... 4.13. 6.93. Optimal number of lags ( up to 10 lags. AIC: 8. FPE: 8. HQC: 8. SC: 8. Sample range: [1972, 2009], T = 38. Dimension of the process: 4. Intercept included.

  10. 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...

  11. 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.

  12. Quantum money with classical verification

    Energy Technology Data Exchange (ETDEWEB)

    Gavinsky, Dmitry [NEC Laboratories America, Princeton, NJ (United States)

    2014-12-04

    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.

  13. 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

  14. 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...

  15. Privately issued money reduces GDP.

    OpenAIRE

    Musgrave, Ralph S.

    2017-01-01

    The majority of the money supply is issued by private banks, not central banks. However a system that restricts money creation to central banks has been advocated for many years by leading economists. There is no reason interest rates would not be at some sort of genuine free market rate under the latter system. In contrast, when private bank money is allowed, those banks undercut the free market rate of interest because it costs them nothing to come by the money they lend out: they effective...

  16. INTER-BANK CALL MONEY MARKET TRANSACTION IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Aries Haryadi

    2013-10-01

    Full Text Available AbstractThis study analyzes the effect of Indonesian Bank loan, the amount of demand deposits, and the Indonesia economic crisis in 1997 on the interbank call money market transactions in Indonesia using a multiple linear regression method. This study finds that the variables influencing the interbank call money market transactions are the interest rate of interbank call money market and the check money. Both variables have positive effect on the interbank money market transactions in Indonesia.Keywords: Loans, Interest Rate, Check Money, Monetary Crisis, Interbank Money Market TransactionsJEL Classification Numbers: G21, G28AbstrakPenelitian ini menganalisis pengaruh pinjaman Bank Indonesia terhadap tingkat bunga pasar uang antar bank, jumlah uang giral, dan krisis ekonomi Indonesia tahun 1997 terhadap transaksi pasar uang antar bank di Indonesia menggunakan metode regresi linier berganda. Penelitian ini menemukan bahwa variabel yang berpengaruh terhadap transaksi pasar uang antar bank tersebut adalah tingkat bunga pasar uang antar bank dan jumlah uang giral. Dua variabel tersebut berpengaruh positif terhadap transaksi pasar uang antar bank di Indonesia.Keywords: Pinjaman, Tingkat Bunga, Uang Giral, Krisis Moneter, Transaksi Pasar Uang antar BankJEL Classification Numbers: G21, G28

  17. 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…

  18. 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 ...

  19. 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, p...

  20. The psychological science of money

    NARCIS (Netherlands)

    Bijleveld, E.H.; Aarts, H.A.G.

    2014-01-01

    The Psychological Science of Money brings together classic and current findings on the myriad ways money affects brain, mind, and behavior to satisfy not only our needs for material gain, but also for autonomy and self-worth. Leading experts trace the links between early concepts of value and modern

  1. A psychological perspective on money

    NARCIS (Netherlands)

    Bijleveld, E.H.; Aarts, H.A.G.; Bijleveld, E.H.; Aarts, H.A.G.

    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?’

  2. Modeling money demand components in Lebanon using autoregressive models

    International Nuclear Information System (INIS)

    Mourad, M.

    2008-01-01

    This paper analyses monetary aggregate in Lebanon and its different component methodology of AR model. Thirteen variables in monthly data have been studied for the period January 1990 through December 2005. Using the Augmented Dickey-Fuller (ADF) procedure, twelve variables are integrated at order 1, thus they need the filter (1-B)) to become stationary, however the variable X 1 3,t (claims on private sector) becomes stationary with the filter (1-B)(1-B 1 2) . The ex-post forecasts have been calculated for twelve horizons and for one horizon (one-step ahead forecast). The quality of forecasts has been measured using the MAPE criterion for which the forecasts are good because the MAPE values are lower. Finally, a pursuit of this research using the cointegration approach is proposed. (author)

  3. 29 CFR 100.610 - Written demand for payment.

    Science.gov (United States)

    2010-07-01

    ... Procedures § 100.610 Written demand for payment. (a) The NLRB will promptly make written demand upon the debtor for payment of money or the return of specific property. The written demand for payment will be... late charges will be 60 days from the date that the demand letter is mailed or hand-delivered. (b) The...

  4. "Photographing money" task pricing

    Science.gov (United States)

    Jia, Zhongxiang

    2018-05-01

    "Photographing money" [1]is a self-service model under the mobile Internet. The task pricing is reasonable, related to the success of the commodity inspection. First of all, we analyzed the position of the mission and the membership, and introduced the factor of membership density, considering the influence of the number of members around the mission on the pricing. Multivariate regression of task location and membership density using MATLAB to establish the mathematical model of task pricing. At the same time, we can see from the life experience that membership reputation and the intensity of the task will also affect the pricing, and the data of the task success point is more reliable. Therefore, the successful point of the task is selected, and its reputation, task density, membership density and Multiple regression of task positions, according to which a nhew task pricing program. Finally, an objective evaluation is given of the advantages and disadvantages of the established model and solution method, and the improved method is pointed out.

  5. Follow the money

    Directory of Open Access Journals (Sweden)

    Robbins RA

    2012-01-01

    Full Text Available No abstract available. Article truncated at 150 words. Many years ago there was a Federal whistleblower, Deep Throat, who leaked confidential Government information about the Nixon White House to reporters from the Washington Post. Fans of the book and movie will remember that his famous line was, “Follow the money.” That line came to mind when an article appeared in Health Affairs summarizing the US health care expenditures for 2010 (1. The main gist of the article is that the rate of growth in health care expenditures had slowed to only 3.9% and approximated the slowed growth from 2009 which was 3.8%. Previously the growth had been much larger averaging 7.2% from 2000-8 (2. The article points out that during recession expenditures usually slow but the expected decline in healthcare expenditures usually occurs far after the beginning of the recession. The authors state that the “lagged slowdown in health spending growth from the recent recession occurred more quickly …

  6. 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’

  7. Veblen effect, marginal utility of money, and money illusion

    OpenAIRE

    Malakhov, Sergey

    2013-01-01

    The paper discovers microeconomic mechanism of Veblen effect as well as of Giffen case as results of the negative marginal utility of money. The marginal utility of consumption also becomes negative. The total consumption-leisure utility is increased due to the increase in leisure time. This overall effect results in the phenomenon of money illusion on the macroeconomic level. This general effect has deep historical and institutional grounds and, in order to minimize its disequilibrium econom...

  8. Private Electronic Money, Fiat Money and the Payments System

    OpenAIRE

    Andrew B. Whinston; Paula Hernandez-Verme; Haibo Huang

    2004-01-01

    Temzelides and Williamson (2001) provides valuable contribution into the private money literature, however, as pointed out by Schreft (2001), while the model provides insight about historical experiences with private paper monies, it does not provide a clear insight on how a modern system of private electronic money would work and how the necessary network shall function. Our target of this paper is to fill in that gap. We present a model with two types of private electronic currencies with o...

  9. 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 ...

  10. Trading health for money

    DEFF Research Database (Denmark)

    Ajslev, Jeppe Zielinski Nguyen; Møller, Jeppe Lykke; Persson, Roger

    2017-01-01

    Construction work is physically demanding and often associated with bodily pain. This article presents a study of construction workers’ practices of using and relating to their bodies at work through an agential realist framework for analysing the (re)configuration of the workers’ embodied...... subjectivity. The analysis draws on interviews with 32 Danish construction workers as well as brief observations. The article shows how ‘trading health for money’ becomes a mode for maintaining positive social, occupational and masculine identity among construction workers. Furthermore, it shows how the agency...

  11. The Governance of Money Laundering

    DEFF Research Database (Denmark)

    Tsingou, Eleni

    2014-01-01

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

  12. 2007 National Money Laundering Strategy

    National Research Council Canada - National Science Library

    2007-01-01

    ... them. The National Money Laundering Strategy for 2007 identifies areas in which the U.S. government will work to revise, enhance, or renew efforts to enforce existing Federal laws and regulations...

  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. Demand Uncertainty

    DEFF Research Database (Denmark)

    Nguyen, Daniel Xuyen

    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....... 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...

  16. Feasibility of selected private money

    Directory of Open Access Journals (Sweden)

    Lukáš Nevěděl

    2012-01-01

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

  17. 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. 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....

  1. The Money Market Liaison Group Sterling Money Market Survey

    OpenAIRE

    Westwood, Ben

    2011-01-01

    The Bank of England recently initiated a new survey of the sterling money market on behalf of the Money Market Liaison Group. This market — where short-term wholesale borrowing and lending in sterling takes place — plays a central role in the Bank’s pursuit of its monetary and financial stability objectives. Participants include banks, other financial institutions and non-financial companies, who use the market to manage their liquidity, by investing over short periods and raising short-term ...

  2. 31 CFR 344.8 - What other provisions apply to subscriptions for Demand Deposit securities?

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false What other provisions apply to subscriptions for Demand Deposit securities? 344.8 Section 344.8 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE PUBLIC...

  3. 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.

  4. 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)

  5. 31 CFR 901.2 - Demand for payment.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Demand for payment. 901.2 Section 901... number of demand letters shall depend upon the type and amount of the debt and the debtor's response, if any, to the agency's letters or telephone calls. Generally, one demand letter should suffice. In...

  6. 49 CFR 1018.20 - Written demand for payment.

    Science.gov (United States)

    2010-10-01

    ... Collection of Claims § 1018.20 Written demand for payment. (a) The Board shall make appropriate written demand upon the debtor for payment of money in terms which specify: (1) The basis for the indebtedness... the debtor has explicitly refused to pay, or that sending a further demand is futile. Depending upon...

  7. Endogenous money, circuits and financialization

    OpenAIRE

    Malcolm Sawyer

    2013-01-01

    This paper locates the endogenous money approach in a circuitist framework. It argues for the significance of the credit creation process for the evolution of the economy and the absence of any notion of ‘neutrality of money’. Clearing banks are distinguished from other financial institutions as the providers of initial finance in a circuit whereas other financial institutions operate in a final finance circuit. Financialization is here viewed in terms of the growth of financial assets an...

  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. Discount rates in risk versus money and money versus money tradeoffs.

    Science.gov (United States)

    Alberini, Anna; Chiabai, Aline

    2007-04-01

    We use data from a survey of residents of five Italian cities conducted in late spring 2004 to estimate the discount rates implicit in (1) money versus future risk reductions and (2) money versus money tradeoffs. We find that the mean personal discount rate is 0.3-1.7% in (1) and 8.7% in (2). The latter is lower than the discount rates estimated in comparable situations in many recent studies, greater than market interest rates in Italy at the time, and exhibits modest variation with age and gender. The discount rate implicit in money versus risk tradeoffs is within the range of estimates from studies in the United States and Europe, and does not depend on observable individual characteristics. We use split samples to investigate whether a completely abstract risk reduction - one where the risk reduction delivery has been stripped of all specifics, so that respondents should focus on the risks without being distracted by details - results in WTP and discount figures comparable to those from an identified delivery mechanism (a medical test). We find that while WTP for an immediate risk reduction is 42-73% higher with the abstract risk reduction, the discount rate in the money versus risk tradeoffs and the variance of the error term in the WTP equation are the same across the two variants of the questionnaire.

  10. Credit Demand Amongst Farmers in Mukono District, Uganda ...

    African Journals Online (AJOL)

    forming farmers' associations, leveraging mobile money technologies to reduce distance, and streamlining application procedures could bolster agricultural credit demand in Uganda. ...... analysis was collected for the latter's M.Sc. dissertation.

  11. 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

  12. Eleven Ways To Make Money.

    Science.gov (United States)

    Vail, Kathleen

    1998-01-01

    Many school districts are becoming aggressively entrepreneurial in their efforts to raise money. One district serves as the Internet service provider for their area, another rents buses and drivers to community groups. A sidebar describes a controversial deal between Coca-Cola and the Colorado Springs School District. (MLF)

  13. 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

  14. 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…

  15. Money Matters: Comment and Analysis.

    Science.gov (United States)

    Alexander, Kern

    1998-01-01

    If money truly does not matter, and disadvantage cannot be quantified in terms of valuable social or economic goods, then questions of justice become aridly academic. How are resources to be valued? Faulty research design skewed Eric Hanushek's results. More precisely designed studies are revealing relationships between school expenditures and…

  16. 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)

  17. Keynesian multiplier versus velocity of money

    Science.gov (United States)

    Wang, Yougui; Xu, Yan; Liu, Li

    2010-08-01

    In this paper we present the relation between Keynesian multiplier and the velocity of money circulation in a money exchange model. For this purpose we modify the original exchange model by constructing the interrelation between income and expenditure. The random exchange yields an agent's income, which along with the amount of money he processed determines his expenditure. In this interactive process, both the circulation of money and Keynesian multiplier effect can be formulated. The equilibrium values of Keynesian multiplier are demonstrated to be closely related to the velocity of money. Thus the impacts of macroeconomic policies on aggregate income can be understood by concentrating solely on the variations of money circulation.

  18. 25 CFR 166.819 - What happens if the BIA does not collect enough money to satisfy the penalty?

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false What happens if the BIA does not collect enough money to... does not collect enough money to satisfy the penalty? We will send written notice to the trespasser demanding immediate settlement and advising the trespasser that unless settlement is received within five...

  19. Does parental job insecurity matter? Money anxiety, money motives, and work motivation.

    Science.gov (United States)

    Lim, Vivien K G; Sng, Qing Si

    2006-09-01

    A structural model focusing on the spillover effect of parental perceived job insecurity on money anxiety was developed and tested. The crossover effect of parents' money anxiety on their children's money anxiety, money motives, and motivation to work was also examined. Data were collected from a sample of undergraduates and their parents. Results of structural equation modeling analyses supported a spillover effect of paternal perceived job insecurity on paternal money anxiety. However, maternal perceived job insecurity was not significantly associated with maternal money anxiety. Results also supported a crossover effect of parental money anxiety on youths' money anxiety. Youths' money anxiety was significantly related to youths' negative money motives. In turn, youths' negative money motives were associated with their intrinsic motivation to work. Implications of the findings are discussed. (c) 2006 APA, all rights reserved

  20. Mobile Money and Local Development | IDRC - International ...

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

    New forms of mobile-based financial applications - known as mobile money ... and shared with teams presently implementing socially-motivated mobile money ... IWRA/IDRC webinar on climate change and adaptive water management.

  1. Monetary Policy Implications of Electronic Money

    OpenAIRE

    Berentsen, Aleksander

    1997-01-01

    The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks and the reaction of the banking system.

  2. 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.

  3. 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...

  4. European Regulatory Framework for Money Market Funds

    OpenAIRE

    Portuese, Aurelien; MacNeil, Iain

    2014-01-01

    Money market funds are widely used by all types of investors, including households, corporate treasurers, pension funds, or insurance companies, who regard money market funds as a ‘safe’ short-term liquid asset class for investing cash. In this case they are proxies to cash deposits. Money market funds are themselves key lenders to issuers of short dated high quality money market instruments. They provide an important source of funding for a variety of institutions such as sovereigns, banks, ...

  5. The Meaning of Money Revisited: Workers' View.

    Science.gov (United States)

    Tang, Thomas Li-Ping

    Money has significant impacts on people's motivation and their work-related behavior in organizations. This study was conducted to develop the Money Ethic Scale (MES) and to examine the initial nomological network of the scale. A 25-page questionnaire on attitudes toward money was distributed to 1,200 subjects, including students and faculty of a…

  6. 75 FR 10059 - Money Market Fund Reform

    Science.gov (United States)

    2010-03-04

    ... contain adverse effects on the capital markets and other money market funds. In addition, throughout the... acquisition of second tier securities by money market funds might have a negative effect on those issuers of...; Treasury Strategies Comment Letter. Commenters asserted that eliminating money market funds' ability to...

  7. THE ORIGINS AND NATURE OF MONEY

    Directory of Open Access Journals (Sweden)

    Mihaela IAVORSCHI

    2014-06-01

    Full Text Available The importance of money and the role they hold in the economy can be seen as the keystone of economic life. For a better understanding of the essence of the monetary phenomena it is especially important to turn to history and see how money was born. By turning to their origins, we discover the real fundaments of monetary issues. Only after such a systematic analysis we will be able to suggest the appropriate solutions for the current monetary issues. Therefore, in this study I will research the origin of money and their functionality on the market.The aim of this paper is to analyse the origin of money as a social institution. The appearance and use of money has prehistoric roots. People have turned to the usage of money out of need to facilitate trade. During thousands of years money has known different forms going from money as merchandise, to coins and later to paper money and electronic currency. In this study I have analysed the role of natural money, as well as their production and functionality on the market. The main questionto be answered is whether the production and functionality of paper money nowadays is the consequence of the free market, having the Austrian’s School liberal perspective as a starting point. This methodological approach demonstrates that money is and will remain a social institution and the implication of the authorities in the currency issuing, even from ancient times, has caused distortions in the economic activity.

  8. 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.

  9. The Meaning of Money Revisited: The Development of the Money Ethic Scale.

    Science.gov (United States)

    Tang, Thomas Li-Ping

    Despite the fact that money is important in everyday life, there is a dearth of empirical material and research concerning the meaning of money and people's attitudes towards money in the psychological literature. This study examined the underlying concepts or beliefs people hold about money and the extent to which different needs can be fulfilled…

  10. 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.

  11. 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." 

  12. Monetary policy and the causality between inflation and money supply in Indonesia

    Directory of Open Access Journals (Sweden)

    Gatot Sasongko

    2018-05-01

    Full Text Available Conceptually and empirically, inflation volatility in Indonesia is a monetary and fiscal phenomenon. This study focuses on the macroeconomic policy and public policy especially causality between two variables namely inflation and money supply in Indonesia. This study uses Indonesian macroeconomic data of inflation and money supply from the Bank of Indonesia publication during 2007.1–2017.7. Inflation is measured by the consumer price index, reflects the annual percentage change in costs of acquiring a basket of goods and services to the average consumers that may change at specified intervals. Meanwhile, money supply is measured by the currency, demand deposits, time deposits, and saving deposits. Methodically, this study uses the Granger Causality model to determine the causality between inflation and money supply. The results show that there is a one-way causality between inflation and money supply in Indonesia. These findings imply that money supply causes inflation, but not vice versa. This condition implies that the role of Indonesian Government and Bank of Indonesia were very crucial in managing and controlling macroeconomic policy and public policy. Then, analysis of money supply and inflation also related to impacting factors such as money laundering, role of banks, taxation, tax evasion, and corruption.

  13. Money Creation in a Random Matching Model

    OpenAIRE

    Alexei Deviatov

    2006-01-01

    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...

  14. 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.

  15. 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

  16. 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.

  17. 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.

  18. Unpredictably Stable

    DEFF Research Database (Denmark)

    Failla, Virgilio; Melillo, Francesca; Reichstein, Toke

    2014-01-01

    Is entrepreneurship a more stable career choice for high employment turnover individuals? We find that a transition to entrepreneurship induces a shift towards stayer behavior and identify job matching, job satisfaction and lock-in effects as main drivers. These findings have major implications...

  19. 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.

  20. 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.

  1. Modelling the Demand for Bank Loans by Private Business Sector in Pakistan

    OpenAIRE

    Hassan, Faiza; Qayyum, Abdul

    2013-01-01

    The importance of studying demand for bank loan by private business sector stems from the fact the money supply is ‘credit-driven’ and demand-determined and at the rate of interest determined by the central bank the money supply function is horizontal as illustrated by Moore and Threadgold (1985), Coghlan, (1981), Moore (1979, 1983). The analysis of the demand for bank loan by private business sector is important for understating the monetary transmission mechanism and formulation of the eff...

  2. The Determinants of Money Arguments between Spouses

    Directory of Open Access Journals (Sweden)

    Dorothy B. Durband

    2010-10-01

    Full Text Available A commonly held view is that arguments about money are associated with marital problems, but relatively little is known about the nature of arguing about money within marriage. Using data from the National Longitudinal Survey of Youth 1979 (NLSY79, this study uses a collective bargaining approach to examine the role of money arguments in marriage. The sample (N = 1,371 consists of married women. A collective bargaining framework provides a context for understanding money arguments within the marital relationship. Results indicate that costly communication is the dominant predictor of money arguments, followed by level and proportion of wife’s income, and household net worth. Because results suggest that both communication and financial resources are important components to understanding money arguments within marriage, a combination of professionals trained in marital therapy and/or financial planning is required for couples interested in seeking assistance to increase their satisfaction and/or avoid divorce.

  3. 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. ...

  4. 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...

  5. Money Laundering – an Economic Offence

    OpenAIRE

    Camelia ŞERBAN MORĂREANU

    2011-01-01

    Preventing and combating money laundering, the product of the transnational organized crime, in general, is one of the most efficient means of stopping this activity, which is a threat for the national or international economic operations. The penal incrimination and sanction of money laundering is a useful instrument for the accountability of all categories of offenders, but also with the purpose of imposing more severe sanctions for those who commit offences generating dirty money, behind s...

  6. 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

  7. Money creation in the modern economy

    OpenAIRE

    McLeay, Michael; Radia, Amar; Thomas, Ryland

    2014-01-01

    This article explains how the majority of money in the modern economy is created by commercial banks making loans. Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits. The amount of money created in the economy ultimately depends on the monetary policy of the central bank. In normal times, this is carri...

  8. Money and inflation: a functional relationship

    OpenAIRE

    Wolla, Scott A.

    2013-01-01

    They say that "money makes the world go round." Just imagine a world without money as our method of payment for everyday transactions. Without money, we would all need to barter for necessary goods and services. For example, suppose an accountant needs to have her car fixed. Under a barter system, she would have to find someone who needed some tax advice in exchange for car repairs. The search to find a barter partner is time consuming and wasteful. Money solves this problem and many others. ...

  9. "Introduction to an Alternative History of Money"

    OpenAIRE

    L. Randall Wray

    2012-01-01

    This paper integrates the various strands of an alternative, heterodox view on the origins of money and the development of the modern financial system in a manner that is consistent with the findings of historians and anthropologists. As is well known, the orthodox story of money's origins and evolution begins with the creation of a medium of exchange to reduce the costs of barter. To be sure, the history of money is "lost in the mists of time," as money's invention probably predates writing....

  10. Money growth and aggregate stock returns

    OpenAIRE

    Böing, Tobias; Stadtmann, Georg

    2016-01-01

    We empirically evaluate the predictive power of money growth measured by M2 for stock returns of the S&P 500 index. We use monthly US data and predict multiperiod returns over 1, 3, and 5 years with long-horizon regressions. In-sample regressions show that money growth is useful for predicting returns. Higher recent money growth has a significantly negative effect on subsequent returns of the S&P 500. An out-of-sample analysis shows that a simple model with money growth as a single predictor ...

  11. 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.

  12. 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.

  13. Work for Passion or Money?

    DEFF Research Database (Denmark)

    Bille, Trine; Løyland, Knut; Holm, Anders

    2017-01-01

    on the supply of arts hours. This finding supports arts policy and shows the impact of art grants on artists’ motivation to work on their arts. The causality of wages on supply is demonstrated by estimating the effects of wage shocks (grants) on arts labor supply using fixed-effect and difference......This paper assesses the relative impact of work for money or work for passion on Norwegian artists by examining artists’ labor supply. Our contribution is twofold. The first is to test the work-preference model and the second is to investigate the impact of arts grants on artists’ labor supply...... adds to the literature by estimating the significance of these various income sources on the time allocated to arts work, non-arts work, and leisure. The results provide convincing evidence for the work-preference model, and ad hoc evidence shows that art grants have a significant positive effect...

  14. Atomic Weapons Establishment Bill [Money

    International Nuclear Information System (INIS)

    Bennett, A.F.; Cryer, Bob; Carlisle, Kenneth; Dean, Paul.

    1990-01-01

    The debate concerns the authorisation of payment of the money required to reorganise the atomic weapons establishment in the United Kingdom provided for in the Atomic Weapons Establishment Bill in progress through Parliament. In the Bill the contractorisation of the establishment is recommended and some sort of Government owned company operated scheme set up. The debate lasted about half an hour and is reported verbatim. The issues raised concerned the actual sums likely to be incurred in the formation of a Company to carry out the designated activities of the Bill. These are connected with the research, development, production or maintenance of nuclear devices and the premises needed. The government spokesman suggested the sums required to support the Bill would not be large and the resolution was agreed to without a vote. (UK)

  15. 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

  16. When Does Money Make Money More Important? Survey and Experimental Evidence

    OpenAIRE

    Sanford E. DeVoe; Jeffrey Pfeffer; Byron Y. Lee

    2013-01-01

    The authors investigate how the amount and source of income affects the importance placed on money. Using a longitudinal analysis of the British Household Panel Survey and evidence from two laboratory experiments, they found that larger amounts of money received for labor were associated with individuals placing greater importance on money; but this effect did not hold for money not related to work. The longitudinal survey analysis demonstrated these differential effects of the source of inco...

  17. 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

  18. 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…

  19. Stable isotopes

    International Nuclear Information System (INIS)

    Brazier, J.L.; Guinamant, J.L.

    1995-01-01

    According to the progress which has been realised in the technology of separating and measuring isotopes, the stable isotopes are used as preferable 'labelling elements' for big number of applications. The isotopic composition of natural products shows significant variations as a result of different reasons like the climate, the seasons, or their geographic origins. So, it was proved that the same product has a different isotopic composition of alimentary and agriculture products. It is also important in detecting the pharmacological and medical chemicals. This review article deals with the technology, like chromatography and spectrophotometry, adapted to this aim, and some important applications. 17 refs. 6 figs

  20. Stable Tetraquarks

    Energy Technology Data Exchange (ETDEWEB)

    Quigg, Chris [Fermilab

    2018-04-13

    For very heavy quarks, relations derived from heavy-quark symmetry imply novel narrow doubly heavy tetraquark states containing two heavy quarks and two light antiquarks. We predict that double-beauty states will be stable against strong decays, whereas the double-charm states and mixed beauty+charm states will dissociate into pairs of heavy-light mesons. Observing a new double-beauty state through its weak decays would establish the existence of tetraquarks and illuminate the role of heavy color-antitriplet diquarks as hadron constituents.

  1. 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...

  2. Money Talks Series: Hunger Attack! (Teen Guide)

    OpenAIRE

    2007-01-01

    Investigate how the food you choose affects the amount of money you spend and your health. Calculate how much money you spend on food, explore motives for your food choices, examine the nutritional quality of the food you buy, and identify easy ways to make healthier, lower cost food choices.

  3. 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…

  4. 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...

  5. '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.

  6. 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.…

  7. MONEY AS A GLOBAL PUBLIC GOOD

    OpenAIRE

    Popescu Alexandra-Codruta

    2009-01-01

    The main objective of this paper is to discuss a complex and yet not taken in consideration global public good: money. Money is a social convention created and accepted by people in order to facilitate economic transactions, being a symbol, without an int

  8. 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 ...

  9. 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

  10. Explaining money creation by commercial banks

    DEFF Research Database (Denmark)

    Ravn, Ib

    2015-01-01

    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...... 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...... 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...

  11. 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...

  12. 78 FR 36833 - Money Market Fund Reform; Amendments to Form PF

    Science.gov (United States)

    2013-06-19

    ... popularity. Indeed, the $1.00 stable share price has been one of the fundamental features of money market... funds, ``corporate cash managers and other institutional investors do not view an undiversified holding... research on asset ``fire sales,'' see Andrei Shleifer & Robert Vishny, Fire Sales in Finance and...

  13. 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...

  14. Efforts of Controlling Money Laundering of Narcotics Money in Saudi Arabia

    Directory of Open Access Journals (Sweden)

    Khaled A. ALASMARI

    2014-06-01

    Full Text Available Money laundering is a silent crime. Its goal is to cover up the source of large sums of money that criminals often gather from their criminal activities. This paper will analyze the situation of money laundering in narcotics as it applies in Saudi Arabia. To achieve this end, the paper will first define important terms such as money laundering and narcotics. It will then explain the relationship between money laundering, narcotics trade, and terrorism activities. This background information will form the base for analyzing the various efforts that the Saudi Arabia nation has in place for countering money laundering in narcotics trade. The paper will then explain the challenges facing these efforts, and the future of money laundering in Saudi Arabia. The largest criminal activity associated with money laundering is terrorism financing. The several terror attacks associated with Saudi Arabia’s terror groups like Al-Qaida have made the government realize the importance of curbing money laundering in an effort to counter terrorism. Thus, anti-money laundering strategies are set in place to address all the avenues of money laundering.

  15. 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.

  16. Energy demand patterns

    Energy Technology Data Exchange (ETDEWEB)

    Hoffmann, L; Schipper, L; Meyers, S; Sathaye, J; Hara, Y

    1984-05-01

    This report brings together three papers on energy demand presented at the Energy Research Priorities Seminar held in Ottawa on 8-10 August 1983. The first paper suggests a framework in which energy demand studies may be organized if they are to be useful in policy-making. Disaggregation and the analysis of the chain of energy transformations are possible paths toward more stable and reliable parameters. The second paper points to another factor that leads to instability in sectoral parameters, namely a changeover from one technology to another; insofar as technologies producing a product (or service) vary in their energy intensity, a technological shift will also change the energy intensity of the product. Rapid technological change is characteristic of some sectors in developing countries, and may well account for the high aggregate GDP-elasticities of energy consumption observed. The third paper begins with estimates of these elasticities, which were greater than one for all the member countries of the Asian Development Bank in 1961-78. The high elasticities, together with extreme oil dependence, made them vulnerable to the drastic rise in the oil price after 1973. The author distinguishes three diverging patterns of national experience. The oil-surplus countries naturally gained from the rise in the oil price. Among oil-deficit countries, the newly industrialized countries expanded their exports so rapidly that the oil crisis no longer worried them. For the rest, balance of payments adjustments became a prime concern of policy. Whether they dealt with the oil bill by borrowing, by import substitution, or by demand restraint, the impact of energy on their growth was unmistakable. The paper also shows why energy-demand studies, and energy studies in general, deserve to be taken seriously. 16 refs., 4 figs., 18 tabs.

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

    African Journals Online (AJOL)

    Money Supply, Interest Rate, and Economic Growth in Cameroon: A Time Series ... the impacts of money and interest rate on economic growth and development. ... Money Supply, Interest Rates, Economic growth, Co-integration and Inflation.

  18. 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.

  19. 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.

  20. 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...

  1. 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.

  2. Silvio Gesell's Theory and Accelerated Money Experiments

    OpenAIRE

    Jérôme Blanc

    1998-01-01

    A former version of this paper was published as “Free Money for Social Progress : Theory and practice of Gesell's accelerated money”, American Journal of Economics and Sociology, 57(8), October, 1998, pp. 469-483.; Silvio Gesell (1862-1930) proposed a system of stamped money in order to accelerate monetary circulation and to free money from interest. This was part of a global socialist system intended to free economy from rent and interest. In the 1930s, Irving Fisher, who proposed the system...

  3. Money handling influences BMI: a survey of cashiers

    OpenAIRE

    Shraddha Karve; Ketaki Shurpali; Neelesh Dahanukar; Maithili Jog; Milind Watve

    2008-01-01

    Money is a recent phenomenon in the evolutionary history of man and therefore no separate brain centre to handle money is likely to have evolved. The brain areas activated by food reward and money reward are extensively overlapping. In an experimental set-up, hunger was demonstrated to influence money related decisions and money related thoughts to influence hunger. This suggests that the brain areas evolved for handling food related emotions are exapted to handle money and therefore there co...

  4. 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.

  5. Money Matters and Money Talks: German Children’s Experiences with and Perspectives on Their Own Money

    OpenAIRE

    Gebauer, Anja

    2013-01-01

    The following thesis rectifies the often assumed notion that children are economic innocents and portrays the full complexity of children’s economic lives. It traces the experiences of 17 German 6 to 8 year old children with their own money and explores their perspectives on their money relations. Empirical data is derived from semi-structured individual interviews and focus-group discussions with children, children’s drawings as well as semi-structured interviews with the parents of these ch...

  6. MONEY ATTITUDES VS ECONOMIC SOCIALIZATION IN POLAND

    Directory of Open Access Journals (Sweden)

    Aneta KOWALCZYK

    2015-03-01

    Full Text Available This article concerns the attitudes people have towards money, analysed from an economic and psychological point of view. The article presents an overview of current knowledge on the issues of money attitudes, as well as derived own research derived. This research was designed in order to identify different types of money attitudes as well as their determinants. The study identified five dominant profiles and showed that the most popular is a rational approach, and second – it’s opposite - improvidence. The results have been faced with the most important economic socialization determinants identified during the literature review. The comparison proved to be important, e.g. in the form of receiving pocket money.

  7. Corporate responsibility and prevention of money laundering

    Directory of Open Access Journals (Sweden)

    Đurđević Dragan Ž.

    2015-01-01

    Full Text Available This paper analyzes corporate responsibility and prevention of money laundering from the point of view of the new emerging business enviroinment, while taking into account the aspects of risk and legal responsibility. Furthermore, it analyzes the legal foundation, international standards, as well as the national Serbian regulatory system approach to anti-money laundering battle. The paper points to the key elements of anti-money laundering activities aimed at protection and safeguarding business interests, using the principles like 'knowing your client well', protecting your employees etc. By doing so, we also protect national interests, increase security and maintain the rule of law and of the stability of democratic society and institutions. Special focus is placed on the activities, roles and responsibilities of management in recognizing money laundering indicators and typologies, as well as the education of corporate staff in this area so as to be able to detect the aforementioned illegal activities in a timely manner.

  8. 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.

  9. international money transfer services market in uzbekistan

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

    Kuchkarov

    competition and entrepreneurship and International Development Research Centre. Antimonopoly ...... multiple methods of the effective usage of such money ... current type of services. .... qualitative changes as a result of scientific- technical ...

  10. The symbolic power of money: reminders of money alter social distress and physical pain.

    Science.gov (United States)

    Zhou, Xinyue; Vohs, Kathleen D; Baumeister, Roy F

    2009-06-01

    People often get what they want from the social system, and that process is aided by social popularity or by having money. Money can thus possibly substitute for social acceptance in conferring the ability to obtain benefits from the social system. Moreover, past work has suggested that responses to physical pain and social distress share common underlying mechanisms. Six studies tested relationships among reminders of money, social exclusion, and physical pain. Interpersonal rejection and physical pain caused desire for money to increase. Handling money (compared with handling paper) reduced distress over social exclusion and diminished the physical pain of immersion in hot water. Being reminded of having spent money, however, intensified both social distress and physical pain.

  11. 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...

  12. Analisis Kurs dan Money Supply di Indonesia

    OpenAIRE

    Oktavia, Adek Laksmi; Sentosa, Sri Ulfa; Aimon, Hasdi

    2013-01-01

    This article focused on analyze (1) Effect of the money supply, income, domestic interest rates, inflation and the trade balance to the exchange rate in Indonesia. (2) The influence of domestic interest rates, output and the exchange rate on the money supply in Indonesia. Data used time series of (I year kuartal 2000 – IV year kuartal 2010). This article use analyzer model equation of simultaneous with method of Two Stage Least Squared (TSLS). The result of research concludes that (1) the ...

  13. 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...

  14. Prepaid cards: vulnerable to money laundering?

    OpenAIRE

    Stanley J. Sienkiewicz

    2007-01-01

    This paper discusses the potential money laundering threat that prepaid cards face as they enter the mainstream of consumer payments. Over the past year, several government agencies have issued reports describing the threat to the U.S. financial system, including the use of prepaid cards by money launderers. Also, this paper incorporates the presentations made at a workshop hosted by the Payment Cards Center at which Patrice Motz, executive vice president, Premier Compliance Solutions, and Pa...

  15. 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.

  16. 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. PMID:27047415

  17. 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.

  18. Money laundering in the norwegian securities market: on the conditions of money laundering

    OpenAIRE

    Ingvaldsen, Karsten Olaf F.; Larsson, Paul

    2009-01-01

    This is the final text version of the article, it may contain minor differences from the publisher's pdf version. Norwegian authorities often claim that the financial sector, and especially the securities market, is particularly vulnerable to activities of money laundering. Money laundering is a recurrent theme in the Norwegian media. Usually the media tend to present the forms and extent of money laundering in simple and rather vague terms. The numbers circulating in the media are based u...

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

    OpenAIRE

    J. Ferwerda

    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 modelled, assuming rational behaviour of criminals, following the law and economics strand of the literature which is described as the economics of crime. The theoretical model shows that a) the prob...

  20. 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.

  1. 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.

  2. 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...

  3. 48 CFR 31.205-10 - Cost of money.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Cost of money. 31.205-10....205-10 Cost of money. (a) General. Cost of money— (1) Is an imputed cost that is not a form of...) Refers to— (i) Facilities capital cost of money (48 CFR 9904.414); and (ii) Cost of money as an element...

  4. 24 CFR 291.535 - Earnest money deposit.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Earnest money deposit. 291.535... Next Door Sales Program § 291.535 Earnest money deposit. (a) General. The earnest money deposit is the sum of money that must be paid by the law enforcement officer, teacher, or firefighter/emergency...

  5. 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...

  6. 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

  7. 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

  8. 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

  9. 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.

  10. The Vulnerability of Correspondent Banking on Money Laundering

    OpenAIRE

    Handoyo, Sigit

    2017-01-01

    Bank has important role in process of converting illicit money to be legal proceeds. Once opportunity appears, money launderer will take advantage of that situation. Generally, banks which have poor anti-money laundering control become the main priority for offenders to process laundering their illicit money. These typical banks are usually high risk engaged in criminal behaviour, because they do not know whether or not their clients are engaged in money laundering activities. Offenders in ot...

  11. 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

  12. Social redistribution of pain and money.

    Science.gov (United States)

    Story, Giles W; Vlaev, Ivo; Metcalfe, Robert D; Crockett, Molly J; Kurth-Nelson, Zeb; Darzi, Ara; Dolan, Raymond J

    2015-10-30

    People show empathic responses to others' pain, yet how they choose to apportion pain between themselves and others is not well understood. To address this question, we observed choices to reapportion social allocations of painful stimuli and, for comparison, also elicited equivalent choices with money. On average people sought to equalize allocations of both pain and money, in a manner which indicated that inequality carried an increasing marginal cost. Preferences for pain were more altruistic than for money, with several participants assigning more than half the pain to themselves. Our data indicate that, given concern for others, the fundamental principle of diminishing marginal utility motivates spreading costs across individuals. A model incorporating this assumption outperformed existing models of social utility in explaining the data. By implementing selected allocations for real, we also found that while inequality per se did not influence pain perception, altruistic behavior had an intrinsic analgesic effect for the recipient.

  13. Money and the natural rate of unemployment

    DEFF Research Database (Denmark)

    Østrup, Finn

    The prevailing view among economists and policy makers is that money has no impact on production in a longer term characterised by full price and wage flexibility and rational expectations. This book presents 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, 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...

  14. Money: a therapeutic tool for couples therapy.

    Science.gov (United States)

    Shapiro, Margaret

    2007-09-01

    This article addresses the therapeutic importance of discussing money at every stage of a couple's relationship, both as a concrete reality and as a metaphor for security, adequacy, competence, commitment, acceptance, and acknowledgment in a relationship. I will present a developmental schema looking at financial issues that couples confront at various stages in the adult life cycle and how these affect and reflect relationship problems. The article also presents a money questionnaire as a useful tool for exploring family-of-origin financial history, affect, and behavior.

  15. THE ORIGINS AND NATURE OF MONEY

    OpenAIRE

    Mihaela IAVORSCHI

    2014-01-01

    The importance of money and the role they hold in the economy can be seen as the keystone of economic life. For a better understanding of the essence of the monetary phenomena it is especially important to turn to history and see how money was born. By turning to their origins, we discover the real fundaments of monetary issues. Only after such a systematic analysis we will be able to suggest the appropriate solutions for the current monetary issues. Therefore, in this study I will research t...

  16. 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...

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

    Science.gov (United States)

    Federal Deposit Insurance Corp., Washington, DC.

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

  18. 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.

  19. How to save money on medicines

    Science.gov (United States)

    U.S. Food and Drug Administration (FDA) website. Saving money on prescription drugs. www.fda.gov/Drugs/EmergencyPreparedness/BioterrorismandDrugPreparedness/ucm134215.htm . Updated May 4, 2016. Accessed October 14, 2016. U.S. Food and Drug ...

  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. can Money Matter for Interest Rate Policy?

    NARCIS (Netherlands)

    Brueckner, M.; Schabert, A.

    2006-01-01

    In this paper it is shown that money can matter for macroeconomic stability under interest rate policy when transactions frictions are non-negligible. We develop a sticky price model with a shopping time function, which induces the marginal utility of consumption to depend on the (predetermined)

  2. 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

  3. 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 the process. This article is part of an ongoing series of stories about innovative projects in the developing world, a partnership between IDRC and ...

  4. 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...

  5. 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…

  6. Money Market Operations in Fiscal 2007

    OpenAIRE

    Financial Markets Department

    2008-01-01

    Throughout fiscal 2007, the Bank of Japan conducted money market operations with the uncollateralized overnight call rate as the operating target. The target level for the uncollateralized overnight call rate remained at "around 0.5 percent" throughout all of fiscal 2007. During this period, the basic loan rate applied to the complementary lending facility was 0.75 percent.

  7. 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...

  8. 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.…

  9. 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…

  10. 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…

  11. 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...

  12. Instruments of the Money Market. Fourth Edition.

    Science.gov (United States)

    Cook, Timothy Q., Ed.

    This booklet is a compilation of articles on money market instruments which were published in the "Monthly Review" of the Federal Reserve Bank of Richmond from 1964-1967. They have been revised to include recent changes in the various markets, as well as to reflect currently applicable laws and regulations. The articles are titled: The Money…

  13. Rural Women, Money and Financial Service.

    Science.gov (United States)

    Jiggins, Janice

    1985-01-01

    The author points out the multifaceted aspects of the problems associated with rural women's need for money and financial services and outlines innovative schemes in this area such as the bank for the landless in Bangladesh, a savings and loan cooperative for market women in Nicaragua, and a savings development movement in Zimbabwe. (CT)

  14. 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.

  15. Towards a digital money structure for illiterate users

    OpenAIRE

    Mesfin, WF; Ghinea, G; Atnafu, S

    2014-01-01

    In developing countries, although money is becoming digital in the form of mobile money, it is not easily used by millions of illiterate users in their everyday transactions. Digitization of material money thus poses a challenge to many users. Existing mobile money systems and platforms represent money in terms of simple numbers, like 13, 50, 0.78, 23.64, 80 etc. This way of money representation is almost unusable by illiterate users, unless they depend on others' help. The literature has ove...

  16. 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...

  17. 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...

  18. "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.

  19. Where will the money come from?

    Energy Technology Data Exchange (ETDEWEB)

    Smith, G. [Macquarie North America Ltd., Toronto, ON (Canada)

    2004-06-01

    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.

  20. 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

  1. 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...

  2. 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...

  3. The role of compensation in money market and new money market instruments Open

    OpenAIRE

    Duduiala-Popescu, Lorena

    2009-01-01

    Creation and proper functioning of the money market in Romania is subject to a preponderant constancy of private property, to support competition as a factor increasing the efficiency of the economy. Appearance money market in Romania is related to the transformations that have manifested in our country since 1989. As a mechanism of market economy, can not talk about them in existence before 1989. In a centralized economy, instruments, financial categories have ceased to reflect the actual si...

  4. 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.

  5. 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.

  6. 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 ... Various assertion has been downplaying the position of money in an economy, ... To determine the impact of inflation on the level of Money Supply in Nigeria.

  7. Techniques for implementing anti-money laundering procedures

    OpenAIRE

    BEREZANSKY V.V.; CHALDAEVA L.A.; KILYACHKOV A.A.

    2016-01-01

    Manipulating the banking system for purposes of money laundering is a relatively new phenomenon. This problem was first identified in 1986 in the United States, when it was classified as a criminal offense. In Russia, anti-money laundering measures are regulated with Federal Law No. 115-FZ On Counteracting Money Laundering and the Financing of Terrorism (7 August 2001, as amended). Given the high-speed, digitized nature of banking transactions, the technology for countering money laundering s...

  8. 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. ...

  9. Anti-Money Laundering Requirements – Perceived Effectiveness

    OpenAIRE

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

    2013-01-01

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

  10. Understanding Interface Design and Mobile Money Perceptions in Latin America

    OpenAIRE

    Chiang, Chun-Wei; Anderson, Caroline; Flores-Saviaga, Claudia; Arenas, Eduardo Jr; Colin, Felipe; Romero, Mario; Rivera-Loaiza, Cuauhtemoc; Chavez, Norma Elva; Savage, Saiph

    2018-01-01

    Mobile money can facilitate financial inclusion in developing countries, which usually have high mobile phone use and steady remittance activity. Many countries in Latin America meet the minimum technological requirements to use mobile money, however, the adoption in this region is relatively low. This paper investigates the different factors that lead people in Latin America to distrust and therefore not adopt mobile money. For this purpose, we analyzed 27 mobile money applications on the ma...

  11. 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...

  12. 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 ...

  13. 29 CFR 500.143 - Civil money penalty assessment.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 3 2010-07-01 2010-07-01 false Civil money penalty assessment. 500.143 Section 500.143... MIGRANT AND SEASONAL AGRICULTURAL WORKER PROTECTION Enforcement § 500.143 Civil money penalty assessment. (a) A civil money penalty may be assessed for each violation of the Act or these regulations. (b) In...

  14. 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

  15. Gravity Models of Trade-based Money Laundering

    NARCIS (Netherlands)

    Ferwerda, J.|info:eu-repo/dai/nl/314405526; Kattenberg, M.A.C.|info:eu-repo/dai/nl/357208986; Chang, H.-S.; Unger, B.|info:eu-repo/dai/nl/290994926; Groot, L.F.M.|info:eu-repo/dai/nl/073642398; Bikker, J.A.|info:eu-repo/dai/nl/06912261X

    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

  16. Gravity Models of Trade-Based Money Laundering

    NARCIS (Netherlands)

    Ferwerda, Joras|info:eu-repo/dai/nl/314405526; Kattenberg, Marc|info:eu-repo/dai/nl/357208986; Chang, Han-Hsin|info:eu-repo/dai/nl/357209370; Unger, Brigitte|info:eu-repo/dai/nl/290994926; Groot, Loek|info:eu-repo/dai/nl/073642398; Bikker, Jaap|info:eu-repo/dai/nl/06912261X

    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

  17. 29 CFR 801.42 - Civil money penalties-assessment.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 3 2010-07-01 2010-07-01 false Civil money penalties-assessment. 801.42 Section 801.42... APPLICATION OF THE EMPLOYEE POLYGRAPH PROTECTION ACT OF 1988 Enforcement § 801.42 Civil money penalties—assessment. (a) A civil money penalty in an amount not to exceed $10,000 for any violation may be assessed...

  18. 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

  19. 29 CFR 501.19 - Civil money penalty assessment.

    Science.gov (United States)

    2010-07-01

    ... workers. (c) A civil money penalty for each violation of the work contract or a requirement of 8 U.S.C..., with the following exceptions: (1) A civil money penalty for each willful violation of the work... 29 Labor 3 2010-07-01 2010-07-01 false Civil money penalty assessment. 501.19 Section 501.19 Labor...

  20. 29 CFR 502.19 - Civil money penalty assessment.

    Science.gov (United States)

    2010-07-01

    ... IMMIGRATION AND NATIONALITY ACT (SUSPENDED 6-29-2009) Enforcement of Work Contracts § 502.19 Civil money... money penalty for violation of the work contract will not exceed $1,000 for each violation committed... of the work contract, or for willful discrimination, the civil money penalty shall not exceed $5,000...

  1. 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...

  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. 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...

  4. 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...

  5. 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...

  6. 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...

  7. 78 FR 4057 - Inflation Adjustment of Civil Money Penalty Amounts

    Science.gov (United States)

    2013-01-18

    ...] RIN 2501-AD59 Inflation Adjustment of Civil Money Penalty Amounts AGENCY: Office of the Secretary, HUD. ACTION: Final rule. SUMMARY: This final rule amends HUD's civil money penalty and civil penalty... outdated cross-reference in its civil money penalty regulations. DATES: Effective Date: February 19, 2013...

  8. 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...

  9. 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...

  10. 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...

  11. Empowering Volunteer Money Sense Advisors at a Military Installation.

    Science.gov (United States)

    Wright, Joan; Varcoe, Karen

    Because money management is often a problem for lower-level military personnel, a resource management educational program called Money Sense was started by the University of California Cooperative Extension at Edwards Air Force Base in 1985. Volunteers for Money Sense were recruited at the base; they attended eight sessions on teaching techniques…

  12. 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.

  13. 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.

  14. 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.

  15. 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.

  16. Digital money – an implementation of micropayments

    Directory of Open Access Journals (Sweden)

    Vivaldo Breternitz

    2009-05-01

    Full Text Available This paper intends to describe the process of money development, the advantages of using it digitally and the difficulties this process is facing. It is focused on the concept of e-purses or e-wallets, describing one of the most successful forms of digital money, the Octopus (Hong Kong based. Its main goal is to help those who wish to study this   subject under a corporative strategy point of view. It presents the reasons that led to the development of the Octopus, the steps followed by the companies that manage it, the current situation and the future development perspectives. The paper presents some considerations on the opportunity of adopting other systems that are similar to the Octopus in highly populated areas, as well as the conditions required to its success.

  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. Issues surrounding the money laundering crime

    OpenAIRE

    Rodrigues, Liliana

    2016-01-01

    Money laundering took advantage of the increasing openness and expanding markets to improve their techniques, taking advantage of the vulnerability of the weaker countries. In an evolutionary perspective, we understand how this phenomenon has progressed and how countries and referenced organizations have an important role to play in its prevention. This crime was defined and framed in an evolutionary perspective, whether legislative, or jurisprudential doctrine in order to better understand t...

  19. 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).

  20. Women, money, and psychodynamic group psychotherapy.

    Science.gov (United States)

    Motherwell, Lise

    2002-01-01

    Developmental concerns and sociocultural expectations may keep female patients and therapists from addressing financial issues openly in group psychotherapy. Interpersonal theory provides a different view of nurturing that may help women leaders deal better with financial discussions in group. This paper includes a review of the literature on group psychotherapy and fees; feminist literature relevant to leadership; money management in group therapy; countertransference; and case examples.

  1. Economic and Legal Aspects of Electronic Money

    OpenAIRE

    Otakar Schlossberger

    2016-01-01

    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 infl...

  2. 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.

  3. Marital Satisfaction as it Related to Agreement on Money Matters and Money Management Competence Among Utah State University Married Students

    OpenAIRE

    Young, Carol S.

    1982-01-01

    The primary purpose of this study was to investigate the relationship between marital satisfaction, agreement on money matters, and money management competence among married couples at Utah State University . A sample of 43 student couples responded to a written questionnaire designed to measure the three variables. On all three variables measured, high scores indicated that both spouses rated themselves high on marital satisfaction, agreement on money matters, and money management competence...

  4. 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...

  5. 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...

  6. 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.

  7. 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...

  8. Comparative characteristics of electronic, cash and cashless money

    Directory of Open Access Journals (Sweden)

    Ксенія Романівна Петрофанова

    2017-12-01

    The study of the peculiarities of electronic money is accompanied by the discovery of a large number of theoretical and practical problems and separate discussion issues of important application significance. As the number of e-money users increases with the development of e-commerce, protecting their interests requires proper civil and financial regulation. Comparing electronic money with cash and non-cash money, we found that they, by combining the benefits of the other two forms of money, actually became the third specific monetary form

  9. 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

  10. 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...

  11. Angina Pectoris (Stable Angina)

    Science.gov (United States)

    ... Peripheral Artery Disease Venous Thromboembolism Aortic Aneurysm More Angina Pectoris (Stable Angina) Updated:Aug 21,2017 You may have heard the term “angina pectoris” or “stable angina” in your doctor’s office, ...

  12. 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...

  13. 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...

  14. 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...

  15. 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...

  16. 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

  17. 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

  18. 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.

  19. 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 ...

  20. Money creation and circulation in a credit economy

    Science.gov (United States)

    Xiong, Wanting; Fu, Han; Wang, Yougui

    2017-01-01

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

  1. Demand Response Application forReliability Enhancement in Electricity Market

    OpenAIRE

    Romera Pérez, Javier

    2015-01-01

    The term reliability is related with the adequacy and security during operation of theelectric power system, supplying the electricity demand over time and saving thepossible contingencies because every inhabitant needs to be supplied with electricity intheir day to day. Operating the system in this way entails spending money. The first partof the project is going to be an analysis of the reliability and the economic impact of it.During the last decade, electric utilities and companies had be...

  2. When Demand Creates its Own Supply: Saving Traps

    OpenAIRE

    Christophe Chamley

    2014-01-01

    The mechanism by which aggregate supply creates the income that generates its matching demand (called Say's Law), may not work in a general equilibrium with decentralized markets and savings in bonds or money. Full employment is an equilibrium, but convergence to that state is slow. A self-fulfilling precautionary motive to accumulate bonds (with a zero aggregate supply) can set the economy on an equilibrium path with a fast convergence towards a steady state with unemployment that may be an ...

  3. Labour supply and commodity demands : an application to Irish data

    OpenAIRE

    Anthony Murphy; Rodney Thom

    1986-01-01

    Annual Irish data are used to estimate a model which allows for the joint determination of commodity demands and labour supply. Consumer preferences are modelled by a cost function of the Gorman polar form which permits exact linear aggregation over individuals with different money wage rates. Separability between goods and leisure is rejected by the data. Labour supply is found to be a positive function of the wage rate.

  4. 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....

  5. 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».

  6. 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

  7. 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.

  8. 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.

  9. The NHS: assessing new technologies, NICE and value for money.

    Science.gov (United States)

    Stevens, A; Chalkidou, K; Littlejohns, P

    2011-06-01

    The healthcare system in the UK, essentially the NHS, is an open economic system subject to the same pressures as any other economic system. The pressures concern limited resources coupled with powerful drivers for increasing spending: invention, demography and inflation. There have only ever been three types of economic system: steady state (everything, as in a feudal system, stays as it was the year before), market capitalism (supply and demand are allowed to find their own equilibrium) and some version of central planning. In healthcare, most advanced countries favour the last of the three. This is for three reasons: distribution (not only are the poor less able to pay for sickness, but sickness exacerbates poverty), information (markets operate poorly when providers can easily outsmart customers) and externalities (it is in the interest of everyone that infectious diseases and the other knock-on consequences of ill health are ameliorated). So in the UK, the state, with a good deal of cross-party consensus, directs most of health service supply. This system has become more complex over the decades since the formation of the NHS in 1948. A notable element of the complexity is the regulation of the introduction of new technologies. A key element of the regulatory system has been the National Institute for Health and Clinical Excellence (NICE), and a key aspect of NICE's decisions has been not just value, but also value for money. This has not been without controversy.

  10. 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.

  11. 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

  12. 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.

  13. Subjective Experiences of Clients in a Voluntary Money Management Program.

    Science.gov (United States)

    Serowik, Kristin L; Bellamy, Chyrell D; Rowe, Michael; Rosen, Marc I

    2013-01-01

    A large proportion of people diagnosed with mental illnesses have difficulty managing their money, and therefore many psychiatric treatments involve providing money management assistance. However, little is known about the subjective experience of having a money manager, and extant literature is restricted to people forced to work with a representative payee or conservator. In this study, fifteen people were interviewed about their experience receiving a voluntary money management intervention designed to minimize substance use. Clients emphasized the importance of trusting the money manager, financial mindfulness (an enhanced awareness of the financial transactions in clients' day-to-day lives), agency over their own affairs, and addiction. In contrast to evaluations of people assigned representative payees and/or conservators, there was little mention of feeling coerced. These findings suggest that money management programs can address client concerns by building trust, relating budgeting to clients' day-to-day lives, and encouraging clients' control over their own affairs.

  14. Budget deficit, money growth and inflation: Empirical evidence from Vietnam

    OpenAIRE

    Khieu Van, Hoang

    2014-01-01

    This study empirically examines the nexus among budget deficit, money supply and inflation by using a monthly data set from January 1995 to December 2012 and a SVAR model with five endogenous variables, inflation, money growth, budget deficit growth, real GDP growth and interest rate. Since real GDP and budget deficit are unavailable on the monthly basis, we interpolate those series using Chow and Lin’s (1971) annualized approach from their annual series. Overall, we found that money growth h...

  15. Gravity Models of Trade-Based Money Laundering

    OpenAIRE

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

    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 abuse that has been discovered only recently. TBML refers to criminal proceeds that are transferred around the world using fake invoices that under- or overvalue imports and exports. This article is a...

  16. 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...

  17. Using Maslow's Needs Model to Assess Individuals' Attitudes Toward Money

    OpenAIRE

    Oleson, Mark D.

    1999-01-01

    Few things occupy as central a place in our lives as money. Although the study of money has a long history in the behavioral sciences, others have only recently begun examining this important topic. The purpose of this study was to explore the relationship between basic human need levels and money attitudes in a university-age cohort utilizing a theory of hierarchical needs. Needs theory, introduced by Abraham Maslow, suggests that as we interact with the environment we accumulate specific ne...

  18. The Money Market in Montenegro - Conditions, Development and Outlook

    OpenAIRE

    Danijela Vukajlović-Grba

    2007-01-01

    The money market represents a segment of financial markets wherein the objects of trading are funds with short-term maturities. The money market in Montenegro is still in its early stages of development, and is characterized by a narrow scope of trading material and by a relatively narrow variety of participants. The reasons for such slow development of the Montenegrin money market are numerous: lack of regulations, dollarization as a model of monetary and foreign exchange regime, excessive l...

  19. Money laundering: The question of precedent relevant criminal fact

    Directory of Open Access Journals (Sweden)

    Fernando ANDRADE FERNANDES

    2014-07-01

    Full Text Available The article aims to make a more detailed analysis on the problem of the autonomy of money laundering crime. The rationale for the study is the existence of an understanding that defends the autonomy of the money laundering crime, despite the linkages she has with the precedent crime, of which result the illicit assets. The issue of autonomy of money laundering crime is analyzed in the perspective of the Criminal Law and Criminal Procedure.

  20. Money laundering in Dubai: strategies and future directions

    OpenAIRE

    Belaisha, Belaisha; Brooks, Graham

    2014-01-01

    Purpose\\ud – This paper aims to highlight present strategies to prevent money laundering in Dubai.\\ud \\ud Design/methodology/approach\\ud – Thirty semi-structured interviews were conducted with Anti Money Laundering Suspicion Cases Unit (AMLSCU), Anti Organized Crime Department (AOCD) and Central Bank employees.\\ud \\ud Findings\\ud – This paper shows that AMLSCU, AOCD and Central Bank employees are aware that future strategies to prevent money laundering are needed.\\ud \\ud Research limitations/...

  1. 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 ...

  2. 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...

  3. Uranium supply and demand

    Energy Technology Data Exchange (ETDEWEB)

    Spriggs, M J

    1976-01-01

    Papers were presented on the pattern of uranium production in South Africa; Australian uranium--will it ever become available; North American uranium resources, policies, prospects, and pricing; economic and political environment of the uranium mining industry; alternative sources of uranium supply; whither North American demand for uranium; and uranium demand and security of supply--a consumer's point of view. (LK)

  4. 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...

  5. 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.

  6. Do Danish children and young people receive pocket money?

    OpenAIRE

    Jens Bonke

    2013-01-01

    The aim of this study is to determine the extent to which Danish parents give their children pocket money, including an examination of whether there is a correlation between the amount of pocket money given and children’s income from paid work. We also examine the significance of parents’ income for the amount of pocket money they give to their children, and we consider how children use their income in relation to the amount of their pocket money and earnings. Finally, we examine the relation...

  7. 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.

  8. 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.

  9. 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

  10. 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...

  11. 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.

  12. 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.

  13. 6 CFR 5.48 - Considerations in determining whether the Department will comply with a demand or request

    Science.gov (United States)

    2010-01-01

    ... Litigation § 5.48 Considerations in determining whether the Department will comply with a demand or request... governing the case or matter in which the demand arose; (2) Whether compliance is appropriate under the... need to avoid spending the time and money of the United States for private purposes; (6) The need to...

  14. 22 CFR 172.8 - Considerations in determining whether the Department will comply with a demand or request.

    Science.gov (United States)

    2010-04-01

    ... in determining whether the Department will comply with a demand or request. (a) In deciding whether... applicable rules of discovery or the rules of procedure governing the case or matter in which the demand... for the conduct of official business; (5) The need to avoid spending the time and money of the United...

  15. 45 CFR 1201.9 - Considerations in determining whether the Corporation will comply with a demand or request.

    Science.gov (United States)

    2010-10-01

    ... determining whether the Corporation will comply with a demand or request. (a) In deciding whether to comply... discovery or the rules of procedure governing the case or matter in which the demand arose; (2) Whether... conduct of official business; (5) The need to avoid spending the time and money of the United States for...

  16. The Influence of Money on Goal Pursuit and Decision-Making: Understanding Money's Unique Impact on Goal Pursuit

    OpenAIRE

    Moran, Nora

    2015-01-01

    Previous research suggests that activating concepts of money and wealth can increase motivation to achieve personal goals. In this dissertation, I investigate how money affects pursuit of important personal goals, and how this motivation may be affected by goal attainability. In eight studies, I show that priming concepts of money and wealth leads individuals to pursue important personal goals to a greater degree than control groups, but only when a goal is more attainable. In contrast, when...

  17. Stable Boundary Layer Issues

    OpenAIRE

    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 development of robust stable boundary layer parameterizations for use in NWP and climate models is hampered by the multiplicity of processes and their unknown interactions. As a result, these models suffer ...

  18. 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...

  19. Stocks as Money: Convenience Yield and the Tech-Stock Bubble

    OpenAIRE

    John H. Cochrane

    2002-01-01

    What caused the rise and fall of tech stocks? I argue that a mechanism much like the transactions demand for money drove many stock prices above the 'fundamental value' they would have had in a frictionless market. I start with the Palm/3Com microcosm and then look at tech stocks in general. High prices are associated with high volume, high volatility, low supply of shares, wide dispersion of opinion, and restrictions on long-term short selling. I review competing theories, and only the conve...

  20. Parental Money Help to Children and Stepchildren.

    Science.gov (United States)

    Henretta, John C; Van Voorhis, Matthew F; Soldo, Beth J

    2014-07-01

    Divorce and remarriage have reshaped the American family giving rise to questions about the place of stepchildren in remarried families. In this article, we examine money transfers from a couple to each of their children. We introduce characteristics of the family and estimate the role of shared family membership affecting all children in the family as well as the difference that stepchild status and other individual characteristics make in transfer flows. Data are from the Health and Retirement Study. There are two central results in the analysis. Overall, provision of financial help from parents to children is a family phenomenon. While help to a particular child is episodic, differences between families in provision of help were much greater than the differences in helping one child versus another within families. Second, stepchild status does differentiate one child from another within a family. Stepchildren are disadvantaged, particularly stepchildren of the wife.

  1. 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

  2. Anti-Money Laundry regulation and Crime: A two-period model of money-in-the-utility-function

    OpenAIRE

    Fanta, F; Mohsin, H

    2010-01-01

    The paper presents a two period model with two types of money i.e. dirty and cleans (legal) money in utility function. Clean money is earned from working in legal sector and dirty from illegal sector. Our two-two period model reveals that an increase in labor wage in legal sector unambiguously decease the labor hours allocated for illegal sector by increasing the opportunity cost for illegal activities. However, the crime-reducing impact of anti-money laundry regulation and the probability of...

  3. 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)

  4. 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

  5. Where to put your money to get their money: a bank advertising awareness study

    OpenAIRE

    James B. Bexley; Karen Sherrill

    2017-01-01

    Commercial banks have many options when selecting an advertising medium. Where should a bank put its money in order to obtain the highest return? Should this medium change based on the target audience? This paper examines a number of different mediums for bank advertising and analyzes by age and by gender the efficacy of each. The authors administered a survey to over three hundred participants of varying ages asking them if they have seen bank advertisements on television, social media or th...

  6. Money is an Experience Good: Competition and Trust in the Private Provision of Money

    OpenAIRE

    MARIMON, Ramon; NICOLINI, Juan Pablo; TELES, Pedro

    2011-01-01

    A previous version of this paper was circulated with the title 'Competition and Reputation'. We would like to thank Fernando Alvarez, Huberto Ennis, Robert Lucas, David Levine, and an anonymous referee, for their comments, as well as the participants in the seminars and conferences where this work was presented. We study the interplay between competition and trust as efficiency-enhancing mechanisms in the private provision of money. With commitment, trust is automatically achieved and comp...

  7. Take the Money and Run: The Business Enterprise in the Age of Money Manager Capitalism

    OpenAIRE

    Jo, Tae-Hee; Henry, John F.

    2013-01-01

    Most heterodox theories of the business enterprise base themselves on the Veblenian going concern in which managers pursue the long-run survival and growth of the enterprise, whereas absentee owners are occupied with short-run financial interests. Since Veblen’s era, the capitalist social provisioning process has evolved toward money manager capitalism in a dialectical fashion. At the heart of the transformation are changes in the business enterprise. In this paper, we make a threefold argume...

  8. Money giveth, money taketh away: the dual effect of wealth on happiness.

    Science.gov (United States)

    Quoidbach, Jordi; Dunn, Elizabeth W; Petrides, K V; Mikolajczak, Moïra

    2010-06-01

    This study provides the first evidence that money impairs people's ability to savor everyday positive emotions and experiences. In a sample of working adults, wealthier individuals reported lower savoring ability (the ability to enhance and prolong positive emotional experience). Moreover, the negative impact of wealth on individuals' ability to savor undermined the positive effects of money on their happiness. We experimentally exposed participants to a reminder of wealth and produced the same deleterious effect on their ability to savor as that produced by actual individual differences in wealth, a result supporting the theory that money has a causal effect on savoring. Moving beyond self-reports, we found that participants exposed to a reminder of wealth spent less time savoring a piece of chocolate and exhibited reduced enjoyment of it compared with participants not exposed to wealth. This article presents evidence supporting the widely held but previously untested belief that having access to the best things in life may actually undercut people's ability to reap enjoyment from life's small pleasures.

  9. Sizewell: UK power demand

    International Nuclear Information System (INIS)

    Anon.

    1986-01-01

    The Sizewell Inquiry was about whether the next power stations to be built in the UK should be nuclear or coal and, if nuclear, PWRs or AGRs. During the period of the Inquiry forecasts of demand for electricity were low. Now, however, it seems that the forecast demand is much increased. This uncertainty in demand and the wide regional variations are examined in some detail. Facts and figures on electricity sales (area by area) are presented. Also the minutes of supply lost per consumer per year. These show that security of supply is also a problem. It is also shown that the way electricity is used has changed. Whilst electricity generation has been changing to large-scale, centralised power stations the demand patterns may make smaller scale, quickly-constructed units more sensible. The questions considered at the Sizewell Inquiry may, indeed, no longer be the right ones. (UK)

  10. 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

  11. Evolutionary Stable Strategy

    Indian Academy of Sciences (India)

    Home; Journals; Resonance – Journal of Science Education; Volume 21; Issue 9. Evolutionary Stable Strategy: Application of Nash Equilibrium in Biology. General Article Volume 21 Issue 9 September 2016 pp 803- ... Keywords. Evolutionary game theory, evolutionary stable state, conflict, cooperation, biological games.

  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. In- and Out-of-the-Money Convertible Bond Calls

    DEFF Research Database (Denmark)

    Bechman, Ken; Lunde, Asger; Zebedee, Allan

    2014-01-01

    Convertible bond calls typically cause significant reactions in equity prices. The empirical research largely finds negative and positive announcement effects for the in-the-money and the out-of-the-money calls respectively. However, this research has difficulty distinguishing between the two mai...

  14. 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

  15. 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.

  16. 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

  17. Financial repression, money growth, and seignorage: The Polish experience

    NARCIS (Netherlands)

    Aarle, B. van; Budina, N.

    1997-01-01

    Financial Repression, Money Growth and Seignorage: The Polish Experience. — A small analytical framework is developed to analyze the relation between reserve requirements, base money growth and seignorage revenues. From the analysis, the authors can derive of steady-state seignorage revenues as a

  18. WAEA Keynote Address Behavioral Environmental Economics: Money Pumps & Nudges

    OpenAIRE

    Shogren, Jason F.

    2012-01-01

    Herein we explore how money pumps from rational choice theory and nudges from behavioral economics work toward helping create better environmental policy. We examine the role of money pumps in environmental policy, and whether policymakers can use nudges to "supercharge" incentives. We summarize insight that has emerged from both camps in the areas of conflict/cooperation and mechanism design.

  19. Should patient groups accept money from drug companies? No

    OpenAIRE

    Mintzes, Barbara

    2007-01-01

    Patient groups provide valuable support and advocacy for vulnerable people but funding the work can be difficult. Alastair Kent argues that not accepting industry money will unnecessarily limit the groups' effectiveness, but Barbara Mintzes believes that the money undermines their independence

  20. Should patient groups accept money from drug companies? Yes

    OpenAIRE

    Kent, Alastair

    2007-01-01

    Patient groups provide valuable support and advocacy for vulnerable people but funding the work can be difficult. Alastair Kent argues that not accepting industry money will unnecessarily limit the groups' effectiveness, but Barbara Mintzes believes that the money undermines their independence

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

    African Journals Online (AJOL)

    It looks in particular at how the institutions that issue new electronic money products are regulated ... This development has become global and involves both developed and developing countries, including regions such as the SADC. ... regulatory challenges that came about with the development of electronic money and to ...

  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. 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…

  4. 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…

  5. Italian money tested for forgery by moessbauer spectroscopy

    International Nuclear Information System (INIS)

    Ortalli, I.; Pedrazzi, G.; Jiang Keyu; Zhang Xiufang

    1993-01-01

    Italian money has been investigated by Moessbauer spectroscopy. The results indicated that the spectrum of a 10000 lire bank-note consisted of three magnetic sextets and two quadrupole doublets, the spectrum of a 5000 lire note consisted of two Zeeman sextets, but in the 'false' money there are two quadrupole doublets only

  6. Should Cost: A Strategy for Managing Military Systems Money

    Science.gov (United States)

    2016-03-01

    Defense AT&L: March-April 2016 38 Should Cost A Strategy for Managing Military Systems’ Money Jennifer A. Miller Miller is a Cost Analyst of the...and analysis O&S: operation and support or operation and sustainment, dependent on the context of phase of acquisition life cycle or money used

  7. 48 CFR 1830.7002-2 - Cost of money calculations.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Cost of money calculations. 1830.7002-2 Section 1830.7002-2 Federal Acquisition Regulations System NATIONAL AERONAUTICS AND SPACE... Employed for Facilities in Use and For Facilities Under Construction 1830.7002-2 Cost of money calculations...

  8. Liquidity and Counterparty Risks Tradeoff in Money Market Networks

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Sarmiento, M.

    2016-01-01

    We examine how liquidity is exchanged in different types of Colombian money market networks (i.e. secured, unsecured, and central bank’s repo networks). Our examination first measures and analyzes the centralization of money market networks. Afterwards, based on a simple network optimization problem

  9. 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

  10. A demanding market

    International Nuclear Information System (INIS)

    Thomas, M.

    1997-01-01

    The article relates to the oil and natural gas market, and it gives a survey of proved reserves at the end of 1996 worldwide. The long term trend of increasing world energy demand has seen a major rise during 1996 when global consumption grew by 3%. But worldwide demand, excluding the Former Soviet Union, shows this figure increasing further to 3.7% for the whole of last year according to statistics. 3 figs

  11. Maximum power demand cost

    International Nuclear Information System (INIS)

    Biondi, L.

    1998-01-01

    The charging for a service is a supplier's remuneration for the expenses incurred in providing it. There are currently two charges for electricity: consumption and maximum demand. While no problem arises about the former, the issue is more complicated for the latter and the analysis in this article tends to show that the annual charge for maximum demand arbitrarily discriminates among consumer groups, to the disadvantage of some [it

  12. Money, Power, Equity and Higher Education

    Directory of Open Access Journals (Sweden)

    Seyed Ali Enjoo

    2018-03-01

    Full Text Available In current issue of the Journal of Medical Education, Afshar in the Editorial “The Role of Private Sector in Higher Education; From Quantity and Quality to Access and Social Justice” proposed the importance of justice and quality. (1 It seems that there are some differences between two typesof private sector in higher education. One type of private financial support in higher education comes purely from private sector without any contribution of public sector. The second type of private finance in the higher education especially the type which has grown recently in Iranianhigher education is a type of combination between public higher education and private sector the so called international branch of the university till recent years, and nowadays called selfgoverning campus of the university. (2 In this type of private contribution to public higher education those who have no or little money must pass very hard national examination to be accepted in the university, and those who can pay the tuition fee could enter to the best schools of that university without the exam (in the firstyear of the project or by loose standards or lower cut off scores. Actually, this is an instance of the double standards.One of the elements of being equitable and avoiding discrimination is to prevent undue achievement by the owners of the power such as owners of political, religious, economic, or military power, and to avoid any distinction according to race, colour, sex, language, and etc. (3 In this type ofprivate money absorption in the higher education, while the others have no extra way to enter to the university that would lead to achievement of scientific power, the owners of the economic powers’ daughters and sons could have a special chance to achieve scientific power by the powerof their parents, and there is a different criterion to enter the university based on non-scientific differences.In such situation growing student movements against

  13. An absolute scale for measuring the utility of money

    Science.gov (United States)

    Thomas, P. J.

    2010-07-01

    Measurement of the utility of money is essential in the insurance industry, for prioritising public spending schemes and for the evaluation of decisions on protection systems in high-hazard industries. Up to this time, however, there has been no universally agreed measure for the utility of money, with many utility functions being in common use. In this paper, we shall derive a single family of utility functions, which have risk-aversion as the only free parameter. The fact that they return a utility of zero at their low, reference datum, either the utility of no money or of one unit of money, irrespective of the value of risk-aversion used, qualifies them to be regarded as absolute scales for the utility of money. Evidence of validation for the concept will be offered based on inferential measurements of risk-aversion, using diverse measurement data.

  14. What motivates money donation? A study on external motivators

    Directory of Open Access Journals (Sweden)

    Nivea Coelho Degasperi

    Full Text Available Abstract The objective of this study is to identify external motivating factors that favor individual money donation. Methodologically, we adopted a descriptive and quantitative cross-sectional study. In order to collect data, we prepared a questionnaire containing 49 statements based on external motivating variables of regular individual money donation found in the literature on the subject. After testing the questionnaire, we applied it to 1073 Brazilians, regular money donors and we performed an exploratory factor analysis. Conclusively, we identified 8 external factors that motivate individual money donation: Trust, Reward, Leadership influences, Characteristics of the organization, Environmental influences, Personal benefits, Characteristics of beneficiaries and Future Interests. We expect that these 8 factors combined, could become a useful tool to improve the management of charitable organizations, especially in defining campaigns or other marketing strategies to attract new donors and raise funds on occasions that are favorable to individual money donation.

  15. Do subtle reminders of money change people's political views?

    Science.gov (United States)

    Rohrer, Doug; Pashler, Harold; Harris, Christine R

    2015-08-01

    A number of researchers have reported studies showing that subtle reminders of money can alter behaviors and beliefs that are seemingly unrelated to money. In 1 set of studies published in this journal, Caruso, Vohs, Baxter, and Waytz (2013) found that incidental exposures to money led subjects to indicate greater support for inequality, socioeconomic differences, group-based discrimination, and free market economies. We conducted high-powered replication attempts of these 4 money priming effects and found no evidence of priming (weighted Cohen's d = 0.03). We later learned that Caruso et al. also found several null effects in their line of research that were not reported in the original article. In addition, the money priming effect observed in the first study of Caruso et al. was included in the Many Labs Replication Project (Klein et al., 2014), and only 1 of the 36 labs was able to find the effect. (c) 2015 APA, all rights reserved).

  16. 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.

  17. 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.

  18. 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...

  19. 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...

  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. 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...

  2. Normal modified stable processes

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole Eiler; Shephard, N.

    2002-01-01

    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......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...

  3. 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

  4. 15 CFR 15.13 - Demand for testimony or production of documents: Department policy.

    Science.gov (United States)

    2010-01-01

    ...; (d) To avoid spending the time and money of the United States for private purposes; (e) To preserve... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Demand for testimony or production of documents: Department policy. 15.13 Section 15.13 Commerce and Foreign Trade Office of the Secretary of...

  5. Discharge reductions-value for money?

    International Nuclear Information System (INIS)

    Morley, R G; Coates, R; Taylor, R H

    2004-01-01

    Through the Nuclear Liabilities Management Authority White Paper, the UK Government and the Regulators have signalled a commitment to further improving the operation of the regulatory regime and to its operating within the principles of proportionality, transparency, consistency and accountability which underpin the Government's approach to regulation in general. Particular emphasis is placed upon ensuring that there is greater consistency in the treatment of risk and hazard; proportionate and cost effective delivery of public, worker and environmental protection; and an open and transparently applied regulatory system. The paper uses the historical record of radioactive discharges from BNFL's Sellafield reprocessing site in the UK and seeks to identify what have been the key drivers for change, particularly over the past 20 years of significant discharge reductions. The paper examines the current context for ongoing and future discharges from the site, and the incorporation of the use of the concepts of best practicable environmental option and best practicable means. Intergovernmental commitments such as the OSPAR Sintra and Bremen statements and the developing UK policy framework are also considered, together with BNFL's work with a wide range of 'green' stakeholders. The paper outlines the principal components of BNFL's decision-making processes for discharge control and abatement; and how these interact with the relevant external pressures. It then analyses whether the overall drivers and outcomes align with the declared desire of the UK Government to ensure that the taxpayer receives value for money in the new national arrangements for managing historic nuclear liabilities

  6. 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

  7. 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.

  8. 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.

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

    Directory of Open Access Journals (Sweden)

    Charles D Brummitt

    Full Text Available 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.

  10. Demand for food products in Finland: A demand system approach

    Directory of Open Access Journals (Sweden)

    Ilkka P. Laurila

    1994-07-01

    , the estimated models did not satisfy the Slutsky conditions. The goodness-of-fit measures were good, and, compared to static specifications, dynamics usually provided a better fit. The misspecification tests indicated that the dynamic specification was correct, but some form of misspecification was found. The structural change in parameters indicated that the modelling failed to track a stable preference structure - if there is one. The estimated demand system was employed in projecting the future consumption of food products in Finland to the year 2000. The approach was to choose a certain change in the real total consumption expenditure and alternative sets of relative prices for the forecast period. Four different options of price variables were defined. Three of the options relied on the historical price trends recorded in Finland, whereas one option measured the expected consequences of Finland's possible membership in the European Union. A predicted consequence of the membership in the European Union is that the share of food in consumers’ budget would decrease. The expected decrease is somewhat faster than the decrease that would take place if future price developments were based on the historical trends. If Finland joins the Union, the budget share of Food-at-Home would decrease from 21% in 1991 to 18% in 2000, whereas the budget share of Food-at-Home excluding Alcoholic Drinks would decrease from 16% in 1991 to 14% in 2000.

  11. 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

  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. Accounting for the money-made parenthood of transnational surrogacy.

    Science.gov (United States)

    Stuvøy, Ingvill

    2018-06-21

    In the last decade, transnational surrogacy has attracted world-wide attention for making babies and pregnancies exchangeable with money. Involuntarily childless couples and individuals travel abroad and pay to have the desired child and to become parents. Acknowledging the importance of asking into the consequences of this monetization of reproduction, the author takes issue with universalistic assumptions about money and markets, and their presumed universal effects on social relations. Instead, it is argued that we need to explore how money works, and, by extension, how transnational surrogacy works out and becomes viable to people as a way to become parents. Putting together insights from economic sociology, and the assisted reproductive technology and parenting culture literature, the author employs the notion of accounting to grasp how people make sense of the money involved in making them parents. Based on a study involving 21 interviews with Norwegian gay and straight couples and single men and women seeking surrogacy abroad, the author explores how money is accounted for in three cases, set in three different countries; India, the United States and Canada. The analysis shows how money is accounted for in particular ways to confirm parenthood. These ways differ depending on the local context and transnational relations; ultimately making differentiated monetized parenthood. This is of significance when we try to conceptualize contemporary parenthood and how money seemingly sustains parenthood in ever more radical ways.

  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. 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.

  16. 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.

  17. The association between money and opinion in academic emergency medicine.

    Science.gov (United States)

    Birkhahn, Robert H; Blomkalns, Andra; Klausner, Howard; Nowak, Richard; Raja, Ali S; Summers, Richard; Weber, Jim E; Briggs, William M; Arkun, Alp; Diercks, Deborah

    2010-05-01

    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. 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 pmoney. 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%). 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.

  18. Is spending money on others good for your heart?

    Science.gov (United States)

    Whillans, Ashley V; Dunn, Elizabeth W; Sandstrom, Gillian M; Dickerson, Sally S; Madden, Kenneth M

    2016-06-01

    Does spending money on others (prosocial spending) improve the cardiovascular health of community-dwelling older adults diagnosed with high blood pressure? In Study 1, 186 older adults diagnosed with high blood pressure participating in the Midlife in the U.S. Study (MIDUS) were examined. In Study 2, 73 older adults diagnosed with high blood pressure were assigned to spend money on others or to spend money on themselves. In Study 1, the more money people spent on others, the lower their blood pressure was 2 years later. In Study 2, participants who were assigned to spend money on others for 3 consecutive weeks subsequently exhibited lower systolic and diastolic blood pressure compared to participants assigned to spend money on themselves. The magnitude of these effects was comparable to the effects of interventions such as antihypertensive medication or exercise. Together, these findings suggest that spending money on others shapes cardiovascular health, thereby providing a pathway by which prosocial behavior improves physical health among at-risk older adults. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

  19. 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. 

  20. 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.)

  1. 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...

  2. The role of money in modern macro models

    OpenAIRE

    Seitz, Franz; Schmidt, Markus A.

    2013-01-01

    This paper is the starting point of a series of analyses aiming at re-discovering the role of money for monetary policy purposes. It provides an overview of the role of money in modern macro models. In particular, we are focussing on New Keynesian and New Monetarist models to investigate their main findings and most significant shortcomings in considering money properly. As a further step, we ask about the role of financial intermediaries in this respect. In dealing with these issues, we dist...

  3. Reconsidering Money: Monetary Exchange with Additive Transaction Costs

    DEFF Research Database (Denmark)

    Schröder, Philipp

    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...

  4. Effects of Money Laundering on Iraq’s Economy

    OpenAIRE

    Alhafidh, Mustafa Adel Kamel

    2015-01-01

    ABSTRACT: This research is based on the subject of “Money Laundering effects on Iraq‟s economy”. Money laundering is the biggest phenomenon of today‟s world and it is the result of a country‟s political and social consequences. It‟s not just impact the society, but destroys the entire economy of a country. Iraq is known as a heaven for criminals to launder their money. Iraq is a country full of natural resources that makes it important in the entire world, but besides all this country is the ...

  5. The pursuit of happiness: time, money, and social connection.

    Science.gov (United States)

    Mogilner, Cassie

    2010-09-01

    Does thinking about time, rather than money, influence how effectively individuals pursue personal happiness? Laboratory and field experiments revealed that implicitly activating the construct of time motivates individuals to spend more time with friends and family and less time working-behaviors that are associated with greater happiness. In contrast, implicitly activating money motivates individuals to work more and socialize less, which (although productive) does not increase happiness. Implications for the relative roles of time versus money in the pursuit of happiness are discussed.

  6. 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.

  7. 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...

  8. Oil supply and demand

    Energy Technology Data Exchange (ETDEWEB)

    Babusiaux, D

    2004-07-01

    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)

  9. Oil supply and demand

    Energy Technology Data Exchange (ETDEWEB)

    Rech, O

    2006-07-01

    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)

  10. 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)

  11. 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)

  12. 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)

  13. 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)

  14. 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)

  15. 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

  16. The Influence of Money on Goal Pursuit and Decision-Making: Understanding Money's Unique Impact on Goal Pursuit

    Science.gov (United States)

    Moran, Nora

    Previous research suggests that activating concepts of money and wealth can increase motivation to achieve personal goals. In this dissertation, I investigate how money affects pursuit of important personal goals, and how this motivation may be affected by goal attainability. In eight studies, I show that priming concepts of money and wealth leads individuals to pursue important personal goals to a greater degree than control groups, but only when a goal is more attainable. In contrast, when a goal is less attainable, those primed with money will be less likely to work towards goals relative to control groups. Furthermore, I examine why money may have a detrimental effect on motivation when individuals are faced with less attainable but important goals, and argue those primed with money become more concerned with maintaining a sense of efficacy, and thus disengage from pursuit when success is less certain. Thus, this research identifies the needs made salient by activating money--validating one's abilities. Finally, I show the relevance of these findings for consumer behavior, and discuss the additional implications of this work, as well as future research directions.

  17. 39 CFR 762.27 - Processing of disbursement postal money orders by Federal Reserve Banks.

    Science.gov (United States)

    2010-07-01

    ..., and its other depositors which guarantee all prior endorsements thereon; (2) Give immediate credit... DEBT OBLIGATIONS; DISBURSEMENT POSTAL MONEY ORDERS DISBURSEMENT POSTAL MONEY ORDERS Endorsements...

  18. 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.

  19. Electricity demand in Tunisia

    International Nuclear Information System (INIS)

    Gam, Imen; Ben Rejeb, Jaleleddine

    2012-01-01

    This paper examines the global electricity demand in Tunisia as a function of gross domestic product in constant price, the degree of urbanization, the average annual temperature, and the real electricity price per Kwh. This demand will be examined employing annual data over a period spanning almost thirty one years from 1976 to 2006. A long run relationship between the variables under consideration is determined using the Vector Autoregressive Regression. The empirical results suggest that the electricity demand in Tunisia is sensitive to its past value, any changes in gross domestic product and electricity price. The electricity price effects have a negative impact on long-run electricity consumption. However, the gross domestic product and the past value of electricity consumption have a positive effect. Moreover, the causality test reveals a unidirectional relationship between price and electricity consumption. Our empirical findings are effective to policy makers to maintain the electricity consumption in Tunisia by using the appropriate strategy. - Highlights: ► This paper examined the electricity demand in Tunisia in the long-run. ► The empirical analysis revealed that in the long-run the electricity demand is affected by changes in its past value, GDP in constant price and real electricity price. ► There is a unidirectional relationship between price and electricity consumption, that is to say, that the electricity price causes the consumption. ► Those results suggest that a pricing policy can be an effective instrument to rationalize the electricity consumption in Tunisia in the long-run.

  20. Slow Money for Soft Energy: Lessons for Energy Finance from the Slow Money Movement

    Energy Technology Data Exchange (ETDEWEB)

    Kock, Beaudry E. [Environmental Change Institute, University of Oxford, Oxford (United Kingdom)], e-mail: beaudry.kock@ouce.ox.ac.uk

    2012-12-15

    Energy infrastructure is decarbonizing, shifting from dirty coal to cleaner gas- and emissions-free renewables. This is an important and necessary change that unfortunately risks preserving many problematic technical and institutional properties of the old energy system: in particular, the large scales, high aggregation, and excessive centralization of renewable energy infrastructure and, importantly, its financing. Large-scale renewables carry environmental, social and political risks that cannot be ignored, and more importantly they may not alone accomplish the necessary decarbonization of the power sector. We need to revive a different approach to clean energy infrastructure: a 'softer' (Lovins 1978), more distributed, decentralized, local-scale strategy. To achieve this, we need a fundamentally different approach to the financing of clean energy infrastructure. I propose we learn from the 'Slow Money' approach being pioneered in sustainable agriculture (Tasch 2010), emphasizing a better connection to place, smaller scales, and a focus on quality over quantity. This 'slow money, soft energy' vision is not a repudiation of big-scale renewables, since there are some societal needs, which can only be met by big, centralized power. But we do not need the level of concentration in control and finance epitomized by the current trends in the global renewables sector: this can and must change.

  1. Uses of stable isotopes

    International Nuclear Information System (INIS)

    Axente, Damian

    1998-01-01

    The most important fields of stable isotope use with examples are presented. These are: 1. Isotope dilution analysis: trace analysis, measurements of volumes and masses; 2. Stable isotopes as tracers: transport phenomena, environmental studies, agricultural research, authentication of products and objects, archaeometry, studies of reaction mechanisms, structure and function determination of complex biological entities, studies of metabolism, breath test for diagnostic; 3. Isotope equilibrium effects: measurement of equilibrium effects, investigation of equilibrium conditions, mechanism of drug action, study of natural processes, water cycle, temperature measurements; 4. Stable isotope for advanced nuclear reactors: uranium nitride with 15 N as nuclear fuel, 157 Gd for reactor control. In spite of some difficulties of stable isotope use, particularly related to the analytical techniques, which are slow and expensive, the number of papers reporting on this subject is steadily growing as well as the number of scientific meetings organized by International Isotope Section and IAEA, Gordon Conferences, and regional meeting in Germany, France, etc. Stable isotope application development on large scale is determined by improving their production technologies as well as those of labeled compound and the analytical techniques. (author)

  2. [New drugs: money-back guarantee?].

    Science.gov (United States)

    Steenhoek, Adri; Koopmanschap, Marc A; Franken, Margreet G; Rutten, Frans F H

    2011-01-01

    When a new medical technology, for example a new drug, is introduced onto the market there should be a discussion of the balance between "uncertainty versus value to society and demand". The new technology is sometimes given the benefit of the doubt due to a lack of information. Follow-up investigation is actually essential but is seldom mandatory and hardly ever spontaneously initiated. Specific measures, based on stimulation or penalization, could reduce the degree of uncertainty concerning the efficacy, safety and efficiency of a new technology. A serious option when a new drug produces disappointing results is to pay the manufacturer less.

  3. 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...

  4. 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

  5. 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. 

  6. 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.

  7. 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...

  8. 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.

  9. 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.

  10. 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.

  11. Money Lending Law and Regulation of Consumer Credit in Nigeria ...

    African Journals Online (AJOL)

    Money lending is an indispensible consumer credit device in Nigeria as it is elsewhere. ... (borrowers), but that they also unduly fetter the lenders, which development is bad for modern business efficacy. ... AJOL African Journals Online.

  12. Origin of Money: Dynamic Duality Between Necessity and Unnecessity

    Science.gov (United States)

    Tauchi, Yuka; Kamiura, Moto; Haruna, Taichi; Gunji, Yukio-Pegio

    2008-10-01

    We propose a mathematical model of economic agents to study origin of money. This multi-agent model is based on commodity theory of money, which says that a commodity used as money emerges from barter transaction. Each agent has a different value system which is given by a Heyting algebra, and exchanges one's commodities based on the value system. In each value system, necessity and unnecessity of commodities are expressed by some elements and their compliments on a Heyting Algebra. Moreover, the concept of the compliment is extended. Consequently, the duality of the necessity-unnecessity is weakened, and the exchanges of the commodities are promoted. The commodities which keeps being exchanged for a long time can correspond to money.

  13. 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...

  14. The Aggregate Supply Curve: Keynes and Downwardly Sticky Money Wages.

    Science.gov (United States)

    Wells, Paul

    1985-01-01

    Keynes's explanation of both the rationale underlying downwardly sticky money wages and the consequences this phenomenon has for macroeconomic theory are reviewed. An aggregate supply curve appropriate to today's economy is then interpreted. (Author/RM)

  15. 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

  16. RELATIONSHIP DERIVATIVES FINANCIAL MARKETS, MONEY AND STOCK MARKETS AS A SUBSYSTEM OF FINANCIAL MARKET

    Directory of Open Access Journals (Sweden)

    Yulia Yelnikova

    2016-11-01

    Full Text Available Under conditions of intensive strengthening of globalization of world financial markets and deepening of the crisis, the main source of which are financial markets, financial derivatives market is rapidly developing. In such circumstances, we observe very active growing demand for tools, the main purpose of which is to reduce the financial risk – derivatives. Outlined trend has also involved Ukraine. In this connection, there is an objective need to develop estimate the interconnection of the money and stock markets and derivatives market. It should be kept in mind that achieving the outlined goal is possible only under condition of the full understanding of the scientific and methodological principles of the development of these markets. Purpose is to estimate the interconnection of the money and stock markets and derivatives market by building a mathematical model of system of structural equations that will promote the compilation of scientifically based program of derivatives market. Methodology. By using methods of economic-mathematical modelling were estimated the degree of influence of studied markets factors on financial derivatives market development and by changing this or that factor were predicted future trends of its operations. Results of the survey showed the current state and problems of derivatives market functioning. At the same time, our study allowed us to talk, that factors of the money and stock markets have a different impact on the derivatives market. So, the majority of money market factors have a reverse influence on the development of derivatives market. Instead, the stock market has a direct influence. Practical implications. The proposed scientific and methodical approach to evaluating the impact of factors on the derivatives market allows: influenced by different factors; to conduct a qualitative interpretation of the quantitative changes in the level of market development; to form a complete system of state

  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. 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.

  19. Why Tu Youyou Makes Less Money Than Zhang Ziyi?

    Science.gov (United States)

    Suo, Qinghui; Liu, Yang; Zhang, Daming

    2017-08-01

    Scientists normally earn less money than many other professions which require a similar amount of training and qualification. The economic theory of marginal utility and cost-benefit analysis can be applied to explain this phenomenon. Although scientists make less money than entertainment stars, the scientists do research work out of their interest and they also enjoy a much higher reputation and social status in some countries.

  20. The Changing Role of Money as a Motivator.

    Science.gov (United States)

    1982-04-23

    61). Abraham Maslow advanced the theory that man is motivated by a hierachy of needs . Maslow classified human needs into a pyramidal structure as...theory, man strives to fill these needs in their order of hierachy , with the basic phsiological needs being satis- fied first. The physiological and safety... needs are most closely asso- ciated with the desire for money. vowever, as a person moves up through the hierachy , the ability of money to satisfy