Regime shifts

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  • Challenges to sustaining the productivity of oceanic and coastal fisheries have become more critical and complex as these fisheries reach the upper limits to ocean harvests. In addition, it is now clear that we are managing interactive and dynamic food webs rather than sets of independent single-species populations.

    pdf168p phoebe75 01-02-2013 20 7   Download

  • The late Neogene (the period between − 14 and − 2.4 Ma) is one of the most interesting phases in understand the present conWguration of terrestrial ecosystems. It was during this time that the change took place from the middle Miocene dominant subtropical forests that stretched across southern Europe and western Asia to a more open but still wooded biotope that now prevails in warm–temperate areas. This change in vegetation, which strongly aVected the composition of mammalian faunas, seems to be linked to the rapid spread of grasses around 8–10 Ma ago....

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  • There have been some attempts to explain theoretically the behavior of the stock return volatility. Veronesi (1999) constructs a model with regime shifts in the endowments in which investors will- ingness to hedge against their own uncertainty on the true regime generates overreaction to good news in bad times and volatility clustering. In contrast to that paper, I assume that the exogenous state variables are not subject to regimes, neither do they exhibit mean-reversion.

    pdf51p connhobinh 07-12-2012 22 3   Download

  • Moreover, the necessity of taking into account monetary policy in the rational expectations framework has been demonstrated in particular by the seminal work of Mankiw and Miron (1986) for the short end of the term structure. For the long part of the term structure, Fuhrer (1996), without specifying any process for the perception of regime shifts by agents, has shown that the expectations hypothesis can be accepted for the long part of the yield curve if we allow some small and discrete changes in the coe¢ cients of the reaction function for the Federal Reserve System.

    pdf0p taisaovanchuavo 23-01-2013 21 2   Download

  • This book summarizes likely challenges to U.S. interests in the Persian Gulf, identifies key uncertainties and trends, and assesses the implications of those trends for the United States. The authors examine shifting military balances and weaknesses, the threat from weapons of mass destruction (WMD); social and economic trends in the region; potential regime changes; and the effects of the U.S. military presence in the region.

    pdf94p xuan2013 26-01-2013 18 2   Download

  • The operational procedures of the Bank of Greece underwent major changes during the 1990s. These shifts in operational strategy made interest rates the main tool of monetary policy for the first time in Greece. This paper examines the effects of changes in the bank’s operational interest rates on market interest rates at eight maturities and for different operational regimes. A major feature of our study is the application of the event study methodology used in finance, which has not been employed in any previous study on this subject.

    pdf18p grintokyro 05-11-2015 13 2   Download

  • More generally, private participation can successfully improve access to infrastructure services (telecommunication, energy, transport, water), where workable competition can be introduced, for example in many telecommunication systems. In non- competitive markets, case by case decisions are required to assess whether public or private provision may be preferable depending, in particular, on whether more risks for commercial performance can be shifted effectively to the private sector.

    pdf119p bi_ve_sau 17-01-2013 20 1   Download


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