Sunday, December 29, 2019
Describe and Analyse a Subculture with Which You Are Familiar
Describe and analyse a subculture with which you are familiar. The definition of a subculture is a culture within a culture where a group develops distinctive norms and values that are different from those of the mainstream culture. The subculture that I will be writing about is called the Fan Base which is also know as the Fandom. A fan base or fandom is a group of regular supporters and enthusiasts that spend a rather large amount of time and energy focussing on a team, musician or musical group, entertainer or any other celebrity; these different people/groups can be classed as sort of a leader or main person that holds the group together. Fan bases do not majorly differ from mainstream cultures when it comes to valuesâ⬠¦show more contentâ⬠¦Also, for many fan bases there are expectations for each fan to have some form of social networking account so then they can communicate with other fans. Websites such as Twitter, Facebook and Tumblr would be the main examples of ways to communicate between fans. For music based fandoms, there is the expectation of having to be at concerts, signings, radio tours and any other events that the musician/band they follow attend. For fan bases there is not necessarily a method for learning the groups rules or norms as you become part of a fan base by simply having something common with another fan, so liking the same band or television show, having the same dedication toward a team or band and so on. This means that you are automatically accepted as part of the group, however a lot of fans get agitated when fans that are part of their fandom decide to move fandoms as they see it as a sort of betrayal to their leader, this can lead to unruly behaviour and many arguments within the fan base itself. This kind of subculture emerged originally in the 1960s when pop music first arrived on the scene. It was during a time when teenagers wanted to rebel against the system or just wanted be different to everyone else and this kind of music allowed them to do so. The first fan bases came about because of groups like The Rolling Stones and the Beatles, these particular groups especially had an impact on mainstream culture as many teenagers spent aShow MoreRelatedAcademic Failure And Lack Of School Attachment1236 Words à |à 5 Pagesachievements emerges students into a criminal subculture. Middle Class Measuring Rod Children from lower class homes typically have not been raised with the same value system of most middle class families. A middle class measuring rod is a term coined by Albert Cohen. ââ¬Å"Lower-class children are evaluated by middle-class teachers on the basis of a middle-class measuring rod (Adler, F., Mueller, G., Laufer, W, 2012)â⬠.The basis of this term describes how lower-class children are put in public schoolsRead MoreUse Of Their Physical Body Essay1941 Words à |à 8 Pageswere holding her weapons, or, as occurred most frequently, by sticking out and biting their tongues. It could be that physically sticking out oneââ¬â¢s tongue allows you to feel whatever emotion may have caused such a reaction. For instance, it is somewhat common knowledge, or at least common folklore, that if you start smiling, it will make you feel happier. If the physical act of portraying an expression causes the emotion to come about, then perhaps biting your tongue will cause a similar reaction, evenRead MoreEffects of Rap Music on Crime14002 Words à |à 57 PagesUniversity of Toronto This research compares representations of rap music with the self-reported criminal behavior and resistant attitudes of the musicââ¬â¢s core audience. Our database is a large sample of Toronto high school students (n = 3,393) from which we identify a group of listeners, whose combination of musical likes and dislikes distinguish them as rap univores. We then examine the relationship between their cultural preference for rap music and involvement in a culture of crime and their perceptionsRead MoreEssay on Belonging and Difference in Imagined Communities5843 Words à |à 24 Pagesspeed of their dissemination are paralleled by faster transportation and the movement and subsequent settlement of peoples across the globe in what has come to be called diaspora. The situation is such that many of the old boundaries and barriers by which nations defined themselves have become less certain, challenged by the increasing power of people to move across them whether literally or figuratively . Diaspora has become a term in academic parlance that is associated with the experience of travelRead MoreTraditional and Alternative Teaching5063 Words à |à 21 Pagesprogressive education practices, a more holistic approach which focuses on individual studentsââ¬â¢ need and self-expression. In eyes of reformers, traditional teacher-centered methods focused on rote memorization must be abandoned in favor of students-centered and task-based approaches to learning. Depending on the context, the opposite of traditional method of teaching may be progressive education, modern education, or the alternative education which is the educational approaches based on developmentalRead Morethe importance of diversity in counselling contexts13352 Words à |à 54 PagesBraun, V. and Clarke, V. (2006) Using thematic analysis in psychology. Qualitative Research in Psychology, 3 (2). pp. 77-101. ISSN 1478-0887 We recommend you cite the published version. The publisherââ¬â¢s URL is http://dx.doi.org/10.1191/1478088706qp063oa Refereed: Yes This is an electronic version of an article published in â⬠Braun, Virginia and Clarke, Victoria (2006) Using thematic analysis in psychology. Qualitative Research in Psychology, 3 (2). pp. 77?101â⬠. Qualitative Research in PsychologyRead MoreFunctional Approach to Internal Analysis14942 Words à |à 60 PagesFUNCTIONAL APPROACH TO INTERNAL ANALYSIS INTRODUCTION The purpose of the internal analysis is to evaluate how the company is doing, so that its efforts can be directed in the most effective and efficient way. It s a Decision making approach in which a problem is broken down into its component functions (accounting, marketing, manufacturing, etc.). These functions are further divided into sub-functions and sub-sub functions ... until the function level suitable for solving the problem is reachedRead MoreOrganisation structure and culture12542 Words à |à 51 Pagesdo this effectively means more than knowing which ââ¬Ëleversââ¬â¢ to pull or which structural form to take. It also requires a deep understanding of what makes the organisation work ââ¬â its culture. But what choices are available concerning structure and culture? What is culture? How is it created? How can it be changed? After reading and understanding the contents of the chapter, considering some of the Case Examples and Test Your Knowledge questions, you should be able to: â⦠¢ â⦠¢ â⦠¢ â⦠¢ â⦠¢ UnderstandRead MoreEssay Witchcraft Portrayed in Films6180 Words à |à 25 Pagesnatural, and her face features a long and crooked nose, adorned with a few erratic warts. She is wearing a long black robe that has seen better days, and a tall conical hat with a large rim covers her untidy hair. She concentrates on her cauldron, in which some unwholesome-looking liquid is boiling and sending off coloured fume into the air. In the background, one can glimpse a row of jars and pots, each filled with exotic and macabre ingredients. Her old broom, made not for sweeping but for flight standsRead MoreCauses of Loitering Problems10544 Words à |à 43 Pagesspaces may be limited, who have few leisure places to go to without structured activities or adult oversight, and who are not suffi ciently mobile and independent to decide about their leisure activities on their own. The shopping mall represents a familiar place, safely accessible by public transport, protected from the environment and unfavourable weather, offering many activities that are not restricted to just the adult population (cafà ©s, cinema, fast food), and it is also a space that is considered
Saturday, December 21, 2019
Anabolic Steroids A Fatal Attraction - 1734 Words
Anabolic Steroids in Sports The market for top performing athletes in sports in the 21st century is a competitive one. Athletes are pushed to, be stronger, an heal from injuries faster. With the pressure to do well and get picked up by a professional team of sorts goes without saying that hard work is a must to elevate ones professional athletic career, but what if one has reached a plateau or hit a wall in a training regimen and just can not seem to push through? When some athletes hit the proverbial wall when training they turn to steroids. Ruth Wood in an article titled Anabolic Steroids: A Fatal Attraction? Writes, ââ¬Å"Anabolic-androgenic steroids (AAS) are drugs of abuse. Despite bans on steroid use, Olympic athletes, professional cyclists, American baseball players, and even racehorses have tested positive for AAS. However, AAS are no longer the exclusive province of elite athletes. Among school seniors in the United States (18 years of age), the lifetime incidence for ster oid use (4.0%) is comparable to that for crack cocaine (3.6%) or heroin (1.8%). Today, it is estimated that over 3million people may have used AASâ⬠(Wood 227). Athletes have used Anabolic Steroids for years in bodybuilding as well as recently in baseball. Anabolic steroids affect the body by making it easier to build muscle mass, but by doing so also affect items like ones heart and reproductive system. ââ¬Å"Abuse of anabolic steroids to induce skeletal muscle hypertrophy is widespread amongstShow MoreRelated Anabolic Steroids Essay2897 Words à |à 12 PagesAnabolic Steroids Of the diagnostic methods available to veterinarians, the clinical chemistry test has developed into a valuable aid for localizing pathologic conditions. This test is actually a collection of specially selected individual tests. With just a small amount of whole blood or serum, many body systems can be analyzed. Some of the more common screenings give information about the function of the kidneys, liver, and pancreas and about muscle and bone disease. There are many blood chemistry
Friday, December 13, 2019
Funeral Care Industry Free Essays
The United Kingdom funeral market is believed to be worth around ?1billion yearly, with in excess of 600,000 funerals taking place every year. It is estimated that there are about 4,000 funeral directors currently offering services in the UK, but exact numbers prove to be difficult to pinpoint as the profession is unregulated therefore anyone can enter it. The funeral market in the UK has two industry leaders, The Co-operative Group and Dignity Caring Funeral Services (Dignity Plc). We will write a custom essay sample on Funeral Care Industry or any similar topic only for you Order Now The Co-operative Group has over 800 branches across the UK and conducts around 100,000 funerals a year . They also own the North Eastern Co-operative. Dignity has just over 500 branches and conduct 75,000 funeral a year. Between these two companies, they are currently involved in over 25% of all funerals in the UK. There are several other large groups with large numbers of funerals homes. Targeting customer needs by the Coop Funeralcare In evaluating different market segments, the Coop Funeralcare has considered three factors, segment size and growth, segment structural attractiveness, and company objectives and resources. After evaluating different segments, the Coop Funeralcare has decided which and how many segments to target. Target markets consist of a set of buyers who share common needs or characteristics the company decides to serve. The Coop Funeral Care serves all population age groups, in assisting with Funeral arrangement for the deceased. On its website it state that it offers support to the deceasedââ¬â¢s relatives when someone dies, in hospital, at nursing home, abroad, or unexpectedly. In addition to these services the Cooperative Funeral Care also sales funeral cover for to UK families. Because buyers have unique needs, wants and expectations, Coop Funeral care could potentially view each buyer as a separate target market. There many different factors in which relatives, insurance companies, or local authorities take into account when choosing a funeral home for the deceased. These factors may include quality, perception, reputation and financial. Funeral are personal and unique, it appears the Coop Funeralcare view each buyer as a separate target market. There are four different target market segments and we shall now examine the Coop Funeralcareââ¬â¢s target market strategies in turn. Undifferentiated marketing Differentiated marketing The funeral market is differentiated by different factors which ultimately play a role in the type of funeral, burial or cremations to be chosen by the deceased through funeral policy, the deceasedââ¬â¢s family, local authority or insurance firms. The key factors include religious beliefs, life style and can also be influenced by the economic factors for example the economic downturn. The Coop Funeralcare offer different products for different market segments for example they sale funeral care insurance plans to specific group of customers, they also offer religious funerals to cater for certain religious groups , they can conduct funerals on behalf of other insurances companies individuals. They can also cater for individuals and can conduct funerals on behalf of local authorities. By offering product and market variations to these segments, The Coop Funeralcare hope for higher sales and a stronger position within each market segment. How to cite Funeral Care Industry, Papers
Thursday, December 5, 2019
Case study on arbitrage pricing theory free essay sample
ABSTRACT This study investigates the Arbitrage Pricing Theory for the case of Zimbabwe using time series data from 1980 to 2005 within a vector autoregressive (VAR) framework. The Granger causality tests are conducted to establish the existence of causality among the variables like inflation, exchange rate and Gross Domestic Product. The VAR estimates as shown by the impulse response and variance decomposition together with the Granger causality test show that there is unidirectional causality from Consumer Price Index to Stock Prices. Although the Granger causality test has indicated that there is no causality between RGDP and Stock Prices, the variance decomposition has shown that the real GDP explains deviations in the Stock Prices in the long run. Granger causality tests found no meaningful relationships between Stock Prices and Exchange Rate but considering impulse response functions the effect is significant as early as the first period. Keywords: Arbitrage, Capital Asset Pricing Model (CAPM), Efficient Market Hypothesis, Vector Auto Regression Model (VAR), Impulse Response, Variance Decomposition. INTRODUCTION The Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT) have emerged as two models that have tried to scientifically measure the potential for assets to generate a return or a loss. Both of them are based on the efficient market hypothesis, and are part of the modern portfolio theory. The Efficient Market Hypothesis (EMH) (Fama, 1965), states that at any given time, security prices fully reflect all available information. If the asset is overpriced, then arbitrageurs will short the asset, until reduced demand for purchasing it caused the price to fall. The opposite is true for underpriced securities. The CAPM is based on several simplifying assumptions and because most of these assumptions appear to be unrealistic in the real world, it has been argued that they are the cause of flaws in the CAPM (Watson and Head 1998; Harrington 1987). Several of the CAPM assumptions have been criticized. For instance, the assumptions that there are no taxes and no transaction costs do not conform to reality. In addition, the assumption of homogeneous expectations is also open to doubt, because investors usually have divergent expectations, apply various investment holding periods, differ in respect of their decision-making processes and so on. (Levy and Solomon 2000). Some researchers have also suggested that the CAPM is incorrect in respect of its description of expected returns and that a multi-factor model offers a better explanation. The Capital Asset Pricing Model (CAPM) has run into several roadblocks such as Rolls (1977) suggestion that it is not a testable scientific theory and a plethora of empirical anomalies which provide empirical evidence that the usual market proxies are not mean-variance efficient. In 1976 Ross introduced the Arbitrage Pricing Theory (APT) as an alternative to the CAPM. The APT has the potential to overcome CAPMââ¬â¢s weaknesses. It requires less and more realistic assumptions to be generated by a simple arbitrage argument and its explanatory power is potentially better since it is a multifactor model. The APT relates the expected rate of return on a sequence of primitive securities to their factor sensitivities, suggesting that factor risk is of critical importance in asset pricing (Gilles and Leroy, 1990). It tries to capture some of the non- market influences that cause securities to move together. The APT rests on the hypothesis that the equity price is influenced by limited and non- correlated common factors and by a specific factor totally independent from the other factors. The main empirical strength of the APT is that it permits the researcher to select whatever factors provide the best explanation for the particular sample at hand (Groenewold and Fraser, 1997). Scanty literature has tried to test the APT in Zimbabwe. Although, Chakaza (2008) has attempted to investigate the link between systematic factors and stock prices in Zimbabwe, he only focused on a unidirectional effect running from financial systematic factors to stock prices in the context of cointegration. The results he obtained supported that systematic factors influence stock prices but the issue of causality is unknown for the Zimbabwean economy and this is what this study seeks to investigate. This comes as a result of different studies carried out in different countries having yielded different results on the causality issue and the subject matter remains inconclusive. The issue of causality is far from being settled. Besides the study carried out by Chakaza (2008), the authors are not aware of any study which has been carried out for Zimbabwe in an attempt to answer the direction of causality. The study will add to the existing body of knowledge by determining the direction of causality between systematic factors and stock prices by employing a vector autoregressive (VAR) modeling framework. The rest of the paper is organized as follows. Section II reviews the theoretical and empirical literature. Section III provides the methodology to be employed in this study. The main contribution of the paper is Section IV, where the Arbitrage Pricing Theory will be tested. The paper concludes in Section V, with brief final comments and policy recommendations. LITERATURE REVIEW The Arbitrage Pricing Theory (APT) Ross (1976) developed the arbitrage pricing theory (APT) as an alternative model that could potentially overcome the CAPMââ¬â¢s problems while still retaining the underlying message of the later. The core idea of the APT is that only a small number of systematic influences affect the long term average returns of securities. The first ingredient of Rossââ¬â¢s APT is a factor model. Multi-factor models allow an asset to have not just one, but many measures of systematic risk. Each measure captures the sensitivity of the asset to the corresponding pervasive factor. If the factor model holds exactly and assets do not have specific risk, then the law of one price implies that the expected return of any asset is just a linear function of the other assetsââ¬â¢ expected return. If this were not the case, arbitrageurs would be able to create a long-short trading strategy that would have no initial cost, but would give positive profits for sure. The intuition for the result when assets have no specific risk, is that all asset prices move in lockstep with one another and are therefore just leveraged ââ¬Ëcopiesââ¬â¢ of one other. The result becomes more difficult when assets do have specific risk. In this case it is possible to form portfolios where the specific risk may be diversified away. To achieve full diversification of residual risk, however, a portfolio needs to include an infinite number of securities. With a finite set of securities, each of which has specific risk, the APT pricing restriction will only hold only approximately. The advantage of factor analytic techniques is that the factors determined from the data explain a large proportion of the risks in that particular dataset over the period under consideration. The drawback is that factors usually have no economic interpretation. As Roll and Ross argue, ââ¬Å"an effort should be directed at identifying a more meaningful set of sufficient statistics for the underlying factorsâ⬠. An alternative to factor analytic techniques is to use observed macroeconomic variables as the risk factors. One of the first studies using observed factors was by Chen et al (1986). Their argument is that at the most basic level some fundamental valuation model determines the prices of assets. That is, the price of a stock will be the correctly discounted expected future dividends. Therefore the choice of factors should include any systematic influences that impact future dividends, the way traders and investors form expectations, and the rate at which investors discount future cash flows. Empirical Investigation Mpohamba (1955) used autoregressive distributed lag (ARDL) approach for the case of Germany covering the period 1935-1954. The results reviewed that, in the long-run, inflation and real interest rate exerted positive impact on stock prices. A stable long-run relationship between economic growth and stock prices was found. This method of estimation however, does not cater for reverse causality and would be inappropriate for the estimation of causality in Zimbabwe. More so the feedback effect should have been considered. By employing provincial panel data from Congo, Zhang (1967) examined to determine if diamond prices and money supply explained the stock prices in Congo for the period 1960-1966. He employed a provincial panel data. The results suggested that both variables influenced stock prices. He concluded that the findings revealed a significant and positive nexus between diamond prices and stock prices. This method however, assumes that all elements in the collection have the same economic structure which is not the case for all provinces or nations especially the developing ones. Hamao (1988) replicated the Chen, et al (1986) study in the multi-factor APT framework. By applying an unbalanced panel data, he showed that the Asian stock returns were significantly influenced by the changes in expected inflation, and the unexpected changes in both the risk premium and the slope of the term structure of interest rates. However, different countries have different financial and economic structures which need to be estimated using different proxies and methodologies. Maysami and Koh (1990) examined long-term dynamic interactions between the Botswana Stock Exchange and macroeconomic variables for the period 1978 to 1989 by employing a vector error correction model (VECM). The variables were seasonally adjusted money supply, industrial production index, foreign exchange rate, retail price index (inflation), domestic exports, and interest rates. Results indicated a cointegrating vector among returns on the Botswana Stock Exchange and money supply growth, inflation, term structure of interest rates, and changes in exchange rates. This study is going to employ a VAR instead of VECM because the variables are not integrated of the same order. Akmal (1997) investigated the relationship between equity market prices and inflation in Algeria for the period 1971-1996 by employing the autoregressive distributed lag (ARDL) approach to observe cointegration among variables and provided evidence that equity returns are hedged against inflation in the long run. Though the study by Akmal (1997) is important in defining and providing a background for the inclusion of the explanatory variables, this study will adopt a different methodology, thus it is going to use the VAR model instead of ARDL. Mukherjee and Naka (2005) tested the dynamic relationship between six macroeconomic variables and the Japanese stock market, by employing a vector error correction to a model of seven equations. They found that a long-term equilibrium relationship exists between the Japanese stock market and the six macroeconomic variables which are exchange rate, money supply, inflation, industrial production, long-term government bond rate and call money rate. However, using money supply, inflation, government bond rate and call money rate as explanatory variables in one study may bring about the problem of multicollineality. Maysami et al (2006) examined the long run relationship among macroeconomic variables and Stock prices in Angola and found stock prices to have long term relationship with industrial production, inflation, exchange rate, changes in the short and long-term interest rates and money supply. METHODOLOGY The study is going to employ the Vector Auto Regression (VAR) model to model the relationship between stock prices and certain macroeconomic variables. A VAR is an economic model that is used to capture the innovation and interdependency of multiple times series variables. The VAR model, developed by Sims (1980) represents dynamic models of a group of time series. In a VAR model each variable will have its own equation explaining the changes in that variable in question, in response to its own current and past values and the current and past values of all the variables in the model. Unit root tests will be conducted to test the data for stationarity. If the variables are integrated of the same order then a cointegration test will be performed. Definition and Justification of variables The dependent variable is stock prices. Stock prices are estimated by the industrial production total index. The industrial production total index is a proxy for the real activity. It shows the changes in production value added of branches of manufacturing industry. It is computed on the basis of production data collected for about 1500 factories, the production value added of which covers over 75% of the total value created by the manufacturing industry in Zimbabwe. Independent Variables a. Gross Domestic Product (GDP) GDP is a measure of corporate output and activity influencing possible future dividends. Industrial production index has been used as proxy to measure the growth rate in real sector. GDP presents a measure of overall economic activity in the economy and affects stock prices through its influence on expected future cash flows. It is hypothesized that an increase in industrial production is positively related to equity prices. b. Consumer Price Index (CPI) Consumer Price Index is used as a proxy of inflation rate. CPI is chosen as it is a broad base measure to calculate average change in prices of goods and services during a specific period. Inflation is ultimately translated into nominal interest rate and an increase in nominal interest rates increase discount rate which results in reduction of present value of cash flows so it is hypothesized that an increase in inflation is negatively related to equity prices. Inflation is likely to influence stock prices directly through changes in the price level and through the policies designed to control it. c. Foreign Exchange Rate (ER) This study employs foreign exchange rate as end of month US$/Z$ exchange rate. It is hypothesized that a loss in value of the home currency is negatively related to equity prices. A positive relation between the exchange rate and stock prices is conjectured. Persistent devaluation of the Zimbabwe dollar lures people to rather invest in strong international currencies usually by keeping them as idle balances. Thus resources that could be invested on the stock exchange are diverted into non-functioning assets usually comprised of dollars, Rands and pound sterling. Empirical Model The study is going to follow Mishra (1994) to identify factors in the Arbitrage Pricing Theory with macroeconomic variables that have an impact on stock market prices. Most studies employed this model in order to test the impact of macroeconomic variables on stock market prices. As stated in the previous chapter, it has advantages over the CAPM model as it allows the selection of whatever factors provide a better explanation of variations in stock market prices. The regression equation is specified as follows: k Vt = ? At Vt ? i + ? t i =1 V = (CPI , GDP, ER) Where; Vt is a vector of endogenous variables, A 1 -A k are three by three matrices of coefficients and ? t is a vector of error terms. Following Shan et al (2006) the variation is smoothed out in time series variables and further even and make the variables consistent in the model by transforming all of the variables into logarithm format. ESTIMATION OF RESULTS The unit root tests were conducted by applying the Augmented Dickey-Fuller test developed by Dickey and Fuller (1981) to test the stationarity of our variables. If the estimated Augmented Dickey-Fuller statistic is greater than the critical value the null hypothesis that the series is non-stationary in favour of stationarity will be rejected. To deal with the problem of high variability and unevenness of our data, all variables were converted into logs before being subjected to the tests for stationarity. A trend and an intercept were employed for the testing for stationarity in levels and only an intercept for successive test. After running the data, it is only Exchange Rate (ER) that was stationary in levels. All other variables were found to be non-stationary. Appropriate differencing were conducted and it was found that the Stock Price (SP) became stationary after differencing twice, that is , it is integrated of order two I(2). After differencing once, Consumer Price Index (CPI) and the Real Gross Domestic Product (RGDP) were found to be stationary which means they are integrated of order one, I(1) as illustrated Table 1 below. This therefore, means that this study is going to perform the vector autoregression (VAR) analysis without proceeding to conducting the vector error correction (VEC) model. Table 1: Augmented Dickey Fuller (ADF) test results after appropriate differencing. ***Indicating stationarity at 1% level, ** stationarity at 5% level and * stationarity at 10% level of significance Table 2 reports diagnostic test results of residuals of the VAR model. Table 2: Diagnostic Tests of the residuals of the VAR Inspection of the table regarding the VAR shows that the Q-statistic is insignificant at 5% confidence level, with large p-values. Consequently, the null hypothesis, that the residuals of the equations incorporated into the VAR up to order k are not autocorrelated, cannot be rejected. Moreover, the Breusch-Godfrey Lagrange Multiplier is reported. This is also a test of the null hypothesis that there is no serial correlation in the residuals up to the specified order. The reported F-statistics indicate no autocorrelation in the residuals at 5% confidence level. Also, the ARCH test for autoregressive conditional heteroskedasticity was applied. Ignoring ARCH effects may result in loss of efficiency. It is a test of the null hypothesis that there is no ARCH up to order k in the residuals. The reported n*R2 (i. e. number of observations multiplied by R-squared) follows ? 2 distribution with k degrees of freedom. For the estimated VAR the observed value is lower than the critical value. Thus, the null hypothesis that there is no autocorrelation in the error variance is accepted. Impulse Response The long run relations among the variables of the systems have been determined. Subsequently, there should be examined the transmission mechanisms of the shocks among the variables, which determine the time paths of the systems and settle the equilibrium. Table 3 shows the impulse response functions for the variables.
Thursday, November 28, 2019
How to find the right author at Textbroker
How to find the right author at Textbroker How to Find the Right Author at Textbroker How to Find the Right Author at Textbroker Learn some of the key ways to find the right Textbroker author to create great content for your website, business or brand. CortezTextbroker Marketing and CommunicationsYou may already know that Textbroker is a great way to find a variety of authors who are ready to create content for your business. However, with so many authors to choose from, it can be challenging to settle on the right one for your needs. Fortunately, there is always an author who is the perfect fit, and these tips can ensure that you connect with that author and create valuable content. Author Search FeatureWhen looking for a specialized author to work with, the hunt begins at the Author Search feature. Textbrokerââ¬â¢s Author Search feature allows clients to find authors who are knowledgeable in specific topics at the quality level of their choosing.To search authors, log into your account, and then: 1. Go to the ââ¬Å"Authorsâ⬠tab 2. Search Authors 3. Enter a keyword into the search box and set other search parameters 4. Click Search Search by Price and QualityOne of the first concerns that clients have is whether they will be able to find an author who meets their quality standards. Fortunately, Textbroker has a classification system for all authors. Authors are placed into one of four levels, and work is regularly rated to ensure authors are delivering content that fits their classification. As a client, you can choose to work with an author that is at two, three, four or five stars, depending on your content needs and your budget. Authors writing at the three-star level are often suitable for writing social media content while authors at the five-star level are going to create content that is professional, engaging and thoroughly researched. Ultimately, the level of quality you might need can depend on your budget or the type of content you plan to create. Price is, of course, also a concern for clients who place orders through Textbroker. At Textbroker, clients pay p er word, so the factors that impact the price you pay for each order include the length of the order and the author you choose. If you opt to place an Open Order, then any author in your chosen quality level, or higher, can select it and complete it. With Open Orders, you pay the going rate per word. If you want to work with a specific author, then you will pay their set price per word. Although these prices are set by the author and visible on their profiles. They typically reflect quality and demand, and they are sometimes also negotiable. Find the Right Style for Your Content Every single author has their own writing style. Some authors have a casual, conversational voice that resonates with young people. Others are used to writing in a very professional style that is best suited to well-researched papers. The right voice for your content will depend on your own brand image and voice. If you have positioned yourself to be a business that is current and trendy, then having an over ly stuffy voice probably wont sound authentic. Before you start to evaluate the style of the authors of Textbroker, think about what kind of voice or tone you would like to achieve with your content. Once you have a firm grasp of the style that will work best for your content, you can start to explore author samples to find the right fit. All authors at Textbroker have a public profile that contains key information about them. Within that profile, most authors have a sample piece of writing that sums up the style they are most comfortable with. Spend some time reading through these samples until you find an author who has the kind of tone and voice youre going for. Keep in mind that these samples are also a great opportunity to look at things like vocabulary and sentence structure. Although authors can and do change things depending on the order briefing, a lot of what you see in these samples will likely appear in any orders you place with them. Secure an Author With Subject Kno wledgeWriting, or at least writing well, is in and of itself a form of knowledge. At the same time, however, you still want to find an author who understands the subject matter youll be discussing in your content. If you are planning a series of blog posts summarizing the hottest womens fashion trends of 2020, you probably dont want to hire an author with no interest in fashion. Even if that author is an exceptional writer, they just wont have the background knowledge to research fashion trends and know what to focus on in each post.As you browse the profiles of various authors, take a look at their interests. You can also explore the places where they have traveled or the subjects they studied in school. All of this can paint a picture of the author and what subjects they will be familiar with. Of course, it also makes sense to communicate directly with the author if you have specific questions. If youre creating content that requires in-depth knowledge, or if you want to work with an author who is passionate about a certain topic, a few messages back and forth can give you peace of mind that your chosen author is up to the task. Keep in mind that authors can deliver great content even if they arent experts in your chosen area. This is especially true for general content that doesnt require extensive research. In many cases, it is worth going with the strongest writer possible regardless of their background or areas of expertise. Look for Clear and Timely CommunicationTextbroker is designed so that clients and authors can communicate with ease. Through the messaging system, you can ask questions, get updates on order progress and supply authors with information they might need to create content. The messaging system can also be an early indicator of an authors willingness to communicate and schedule. To send an author a message, simply click on the blue envelope icon located near their profile picture. If you send an author a message through the Textbro ker messaging system and dont get a reply back within 24 hours, it might be a sign that they have many other projects going on at the same time. If you have strict deadlines for your content, then it may be better to choose an author who responds to messages promptly. Dont forget to use the messages as an indicator of writing quality. Although these messages dont necessarily have to be held to the same quality standards as Direct, Open or Team Orders, they will reveal whether the author is prone to basic mistakes. A message filled with spelling and grammar mistakes might be a sign to keep searching for the perfect author. On the other hand, an author who is able to format messages well and write without errors is probably someone who takes pride in their work and their writing ability. Dont be afraid to ask questions and use the messaging system fully in order to ensure youre working with the right person for your upcoming projects. Start With a Trial OrderOnce youre comfortable with an author and you feel that they are the right person to create your content, it is tempting to send off a dozen orders all at once. While this is an option, it is sometimes best to send out just one order to start the relationship. With this first order, you can ensure that the author youre working with understands your needs, your brands voice and the style that youre going for. If necessary, you can make requests to fine-tune the content and get exactly what you need. To place a DirectOrder with an author, click on the ââ¬Å"Place a DirectOrderâ⬠button located on their profile. If the first order doesnt work out, it is better to know sooner than later. Perhaps the author didnt fully understand the scope of the project, or maybe the style wasnt the right fit. Should this happen, youll still be able to choose from a variety of other talented authors who can deliver additional orders. Cast a Wide Net With Team and Open OrdersOnce you have an established working relati onship with an author at Textbroker, youll likely use Direct Orders. These are orders sent specifically to one author, and that author is the only person who can access them, work on them or submit them. Before you reach that stage, however, it might be worthwhile to explore Open Orders or Team Orders.Open Orders go to the entire pool of authors at your desired quality and price level. If you submit 10 Open Orders, you may have 10 different authors each submit an order. This can be an excellent opportunity to compare a variety of writing styles. If one or two authors stand out, you can begin sending them Direct Orders and develop a closer writing relationship.Another option is the use of Team Orders. If youve connected with multiple authors, you create a single team for them all. When you place a Team Order, it will only be accessible to those authors who you have added to the team. Once again, this is a great way to cast a wider net and have several authors submit orders, allowing you to compare styles, find the authors that best meet your content needs and continue to meet your deadlines. You can create a team by going to AuthorsTeams. For assistance in creating a new team, please reach out to client support. Give Authors the Tools Necessary to Create Exceptional ContentIn the writing world, there is an acronym that also serves as a great reminder for clients: GIGO, or garbage in, garbage out. If you want an author to deliver exceptional, high-quality content, then make sure that they have all the resources they need to accomplish that goal. A clear and concise order briefing, noting the audience and setting a clear and realistic deadline are all ways to ensure that the author has everything necessary to deliver great content.With more than 100,000 verified authors writing for Textbroker, it can seem impossible to narrow down all those choices and select just one to write your content. Fortunately, there are several ways to select the right author. The perfe ct Textbroker author can write content with your brands voice, adhere to your desired quality levels and come in at a price that fits your content budget.
Sunday, November 24, 2019
Free Essays on Education of Behaviorists
The environment around us controls who we are, what we do, and how we act. The individual may have a slight control of what they do but the over looking factor in them is the environment they are put in. We learn what to do and how to change our behavior due to what the environment puts forth. Free will does not exist in the world that we live in today. Free will is only an illusion that people believe that have. When one looks at life, external forces on their life control them. You can tell this by how a person will change when they are put in a totally different environment then they are used to. In schools the teacher is who conditions kids what they are going to be able to do and how they are going to be able to act. We as behaviorists believe that in a classroom that the teacher should teach with reinforcement. This will shape the kids to do what they are supposed to. With giving reinforcement the kids will learn material matter even if they do not want to learn it or believe that canââ¬â¢t learn it. We behaviorists are the opposites of existentialists who believe that free will is the most apparent thing in a individual. The alter of an environment will alter a personââ¬â¢s perception on the world and curriculum. That is why behaviorists believe that school officers should make the curriculum. The student learns what higher officials put forth; the student has no say in what they want to learn. Environment the main part of life and the main part of the making of an individual is critical to oneââ¬â¢s attitude and look at life also including school subject matter.... Free Essays on Education of Behaviorists Free Essays on Education of Behaviorists The environment around us controls who we are, what we do, and how we act. The individual may have a slight control of what they do but the over looking factor in them is the environment they are put in. We learn what to do and how to change our behavior due to what the environment puts forth. Free will does not exist in the world that we live in today. Free will is only an illusion that people believe that have. When one looks at life, external forces on their life control them. You can tell this by how a person will change when they are put in a totally different environment then they are used to. In schools the teacher is who conditions kids what they are going to be able to do and how they are going to be able to act. We as behaviorists believe that in a classroom that the teacher should teach with reinforcement. This will shape the kids to do what they are supposed to. With giving reinforcement the kids will learn material matter even if they do not want to learn it or believe that canââ¬â¢t learn it. We behaviorists are the opposites of existentialists who believe that free will is the most apparent thing in a individual. The alter of an environment will alter a personââ¬â¢s perception on the world and curriculum. That is why behaviorists believe that school officers should make the curriculum. The student learns what higher officials put forth; the student has no say in what they want to learn. Environment the main part of life and the main part of the making of an individual is critical to oneââ¬â¢s attitude and look at life also including school subject matter....
Thursday, November 21, 2019
Hausman and McPherson discuss Larry Summers's memorandum Essay
Hausman and McPherson discuss Larry Summers's memorandum - Essay Example Even though Summers and Pritchett argued the ââ¬Å"asideâ⬠on the memo as a sarcastic inference, the ââ¬Å"asideâ⬠generated worldwide uproar and criticisms. In the book Philosophy of Economics, Hausman and McPherson debate the Summers Memo, lamenting the idea that health-impairing pollution could not be promoted or shifted to LDCs. This paper discusses one of Hausman and McPherson objections to summers arguments. In the essay ââ¬ËThe Philosophical Foundations of Mainstream Normative Economicsââ¬â¢, Hausman and McPherson suggest that the three paragraphs in Summers memo presented a scientific argument while the last paragraph highlighted moral objections. However, according to Hausman and McPherson, the entire ââ¬Å"asideâ⬠was essentially a moral argument, which is significant to the relationship between market evaluation and welfare. By isolating welfare and preference satisfaction, and then leaning on the relationship positive economics establishes between preferences and market prices. Consequently, the Summers memo established a link between premises regarding costs and demands and conclusions regarding the specific outcomes that augment welfare (Hausman and McPherson 233). According to Hausman and McPherson the uproar instigated by the Memo signified objection to its conclusions. On page 232, they outline five objections discussing why the World Bank should not encourage the migration of pollution to LDCs. The first objection states that encouraging ââ¬Ëdirtyââ¬â¢ industries to shift to LDCs might cause more total pollution. Specifically, compared to LDCs, industrialized countries have better incentives, superior administrative ability, and extensive resources to implement pollution regulations. The second objection is that even though individuals in the industrialized economies and LDCs would agree to the migration of pollution to the third world in exchange for suitable compensation, the exchange may be discriminating. Notably, in such an
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