Inflation targeting Essay Example | Topics and Well Written Essays - 1750 words

Inflation targeting - Essay Example 2% in the U.K. nd 2.5% in Nrwy. (Mishkin, Eakins, 2006) The difference between these frms des nt seem t mtter in prctice: centrl bnk with trget rnge seems t im fr the middle f the rnge, nd the edges f the rnge re nrmlly interpreted s "sft edges," in the sense tht they d nt trigger discrete plicy chnges nd being just utside the rnge is nt cnsidered much different frm being just inside. The relation between inflation targets and central bank preferences has been thoroughly investigated. On one hand, there is a theoretical literature of Walsh (1995), Svensson (1997) that concludes that inflation targets can be used as a way of overcoming credibility problems because they can mimic optimal performance incentive contracts. On the other hand, there is an empirical literature (Bernanke et al. 1999), that looks whether inflation targets have been instrumental in reducing the policy-implied short-term trend rate of inflation. Broadly speaking, the evidence is that inflation targets have indeed brought about a change in policymaker's inflation preferences. Unlike the relation between inflation targets and central bank preferences, a relatively underexplored issue is how to translate inflation targets into short-term interest rates. This is the issue of how to map explicit "targets" for monetary policy into monetary policy instruments, or how to implement an inflation-targeting framework. An exception is an important contribution by Svensson (1997). Svensson shows that because of lags in the transmission process of short-term interest rates to inflation, inflation targeting implies inflation forecast targeting. In his analysis, the central bank's forecast becomes an explicit intermediate target and its optimal reaction function has the same form as the Taylor rule (1999). Bullard and Schaling (2001) augment the Svensson model with regime switching in productivity and calculate the optimal monetary policy rule in the altered environment. They find that a rule that incorporates leading indicators about regimes significantly outperforms th e Taylor rule. They use this result to comment on the new economy events of the 1990s and the

Good vs Evil - English Essay Essay Example for Free

Good vs Evil English Essay Essay There is neither a definite good nor evil, but only the grey area in-between. The Japanese proverb of Yin and Yang states that in all good there is some evil and in all evil there is dome good thus without good there can be no evil and without evil there can be no good. Evil was once described to me as ‘The inability to feel sympathy’ and at first I agreed with this analogy but upon further thought and deliberation I decided that it was not entirely true, for if evil is the inability to feel sympathy then that makes all acts of sympathy good. However, that analogy would make an act, one that almost the entire world agrees is purely evil, an act of good. The act in question is the destruction of the twin towers of 9/11, because the perpetrators were sympathetic. They were sympathetic towards their country and their people who, contrary to popular knowledge, had already been invaded and were being oppressed by the USA who were trying to secure their oil reserves. There is no way to moderate universally what is considered good and evil. Every man believes in some way that their own actions are just and righteous whilst also believing that their enemy’s actions are acts of evil purely because they oppose his own wishes thus making all man good in his own eyes yet evil in the eyes of those he opposes. Each and every one of us must decide for ourselves what is good and what is evil, and yet we must still conform to the â€Å"norms† of society. The definition of what is right and what is wrong may come from many different places. Some blindly accept what society tells then to where others question society and still others actively oppose society’s views. Some get their definition from the relative religious scripture and follow that without question whereas others merely see it as a general guideline whereupon to base their actions. I believe that the concepts of good and bad, righteousness and evil, just and unjust exist purely to justify man’s actions and that they have and will continue to change to fit the person whose action requires justifying. Alas, these unflinching opposing forces are bound to perpetually clash as they strive for a balance. For without either life as we know it could never exist, perhaps life at all could not exist.

Electronic commerce

Electronic commerce Introduction Electronic commerce,is also known as electronic marketing,consist of process of buying,selling or exchanging products,services or information via computer network.The amount of trade conducted electronically grown extraordinarily with widespread Internet usage. Electronic commerce started more than 20 years ago in the form of Electronic Data Interexchange(EDI) and Electronic Funds Transfer(EFT) Followed in the 1980s by Automated Teller Machine(ATM),telephone banking and the extensive use of on-line credit card transaction.There are three concept in E-commerce such as brick-and-mortar,virtual, and click and mortar. The brick-and-mortar concept The brick-and-mortar is refer to business that have physical presence which is rather than virtual or online.Furthermore,stores(physical material such as brick and mortar) that we can drive to end enter physically to touch,purchase and see the merchandise.It is term as the basic for the click and mortar.The brick-and-mortar business is old-economy organization(corporation) that perform most of their business whithout network(off-line).It is selling physical product by means of physical agents. The vitual pure play organization(virtual) In e-commerce pure-play I refer to organization that originated and does business purely through the internet.It has no physical store(brick-and-mortar) where customers can shop.Examples of large pure play companies are Amazon.com and Netflix.com. The click-and-mortar concept The click-and-mortar concept is refer to combination of traditional(brick-and-mortar) and online establishment,such as store,bank and website.Transaction can be initiated and finalized either at the website(‘click)or at the physical site(‘mortar) The transformation in organization(brick to click) Many of organizational structures of todays business were designed more than 100 years ago when when computer-based information system were not available.Besides,information is really comparative and difficult to process.Plus,communition system is too old to use in daliy life.More than 10 years a ago Peter Drucker heralded the coming of a new organizational type,an organization composed largely of specific who discipline and direct their own performance through organized feedback from headquarters,colleagues and customers. Few years ago,when pure-play organization is cant stand anymore in business,other organization think to expand their sale,so click-and-mortar start to be use.The area pure-play fall short are precisely the areas in which brick-and-mortar companies took place in business. Before this,we use brick-and-mortar also.This concept can be use in organization,but to expand the business is hard because the business is just spread around its area because brick-and-mortar organization only sell physically outside the network.People from other places cant purchase thingS from it because they did not know about it.Soon,they realize that to make a successful business,it must go online. Click-and-mortar is not about praising one business model at the expense of another.It is also about combining the strength of both to develop the most positive consumer experience possible because in the e-commerce world,the customer will determine the winner. The advantage of using click-and-mortar concept in organization

Easier to Learn Programming Languages :: Essays Papers

Easier to Learn Programming Languages In the old days computers had to be fed instructions by hand written on a strip of tape. Now computers do most of the grunt work automatically allowing the program to focus on the problem to be solved as opposed to telling the computer how to solve the problem. This way work is done on a computer much faster and easier then before. The different programming languages used to give the computers instructions have come very far from the original tapes used, and they are still progressing. New languages are easier to use and can accomplish quickly what used to take a very long time in older languages. However these newer languages are not perfect because they are often forced to sacrifice flexibility and control to allow things to be done faster. This is because in order to do instructions faster and more simply things have to be assumed by the compiler that would need be included in the code for a lower level programming language. This can be a good thing because it lets programs be written more quickly and easily, but it also takes these things out of the control of the user. This can lead to more stable code since the programmer cannot make mistakes in these parts, but then the programmer cannot change these things if they need to be changed for some reason. Something important to remember with these new programming languages is that while they can make things easier they can only do so much. It will still take time to create a program no matter how easy the language used is. Also lower level more difficult programming languages will still be needed for creating programs that require more control then is usually allowed in a newer high level language. With the world moving into a new age of computing having programming languages that are easier to use become very important. It may very soon reach the point where anyone can become a bit of a programmer because the computer languages are so easy to use. This is why this can be such an important field. After all someone has to make these easy languages in the first place. There are a number of languages that have been made that are easy to use. A web page discussing them says "The "easy languages" (my own designation) Perl, Awk, Python, Tcl/Tk, and Visual Basic are free (not vb), easy to learn, but currently lack the source code and examples†¦" (par.

A Thief of Time Essay

In Tony Hillermans’ story, â€Å"A Thief of Time† (Hillerman, 2002) the author tells about murder and vanishings of people as Navaho detectives, Lieutenant Joe Leaphorn and Officer Jim Chee search for answers as to why, on the Indian grounds, that people are vanishing and why a well-known anthropologist is missing. Fear encompasses the tale of the ancient Indian grounds where detectives take center stage in looking for clues in the buried ruins that has caused so much confusion. When the backhoe is missing, this mysterious event sets Jim Chee in motion as he tries to uncover what really happened and he won’t stop until he finds the reason. His partner in this bizarre mystery is still coping with the loss of his spouse. Joe Leaphorn just wants to complete one more detective job before retirement. The younger officer; Chee isn’t ready for any type of quitting. Chee is excited about the fact that he may uncover something that includes not only the theft of the backhoe, but he is serious about uncovering the reason that two men have disappeared. Native Americans remain mysterious but the author tries to bring to life, what their true objectives are in this story. The Navaho detectives demonstrate their deep desire to do what is right in this story and offer us a good look into the lives of the Navaho Indian culture. The rummaging through the Indian grounds, unearths many various descriptions of what it’s like to live as a Navaho Indian and as these charming detectives did deep into the ground as they search for missing bodies and mechanical equipment, they discover a mystery that is worth looking into. Reference Page Hillerman, Tony. (2002) A Thief of Time. Harper Collins.

IPT essays

IPT essays Mister says: nuttin dyu no of nethin on 2nite? If you are not already familiar with this vague, unstructured dribble than the only plausible explanation is that you must be an over 60 year old woman living alone with her poodle, because to the rest of the world this is the new way of communicating. The emotionless and insensitive computer language adopted by every computer owner on the planet is progressing towards means of expression that is devoid of the emotive and necessary intimacy so definitive of humans interaction. Historically, interaction between humans has been the basis to a social life. It individually defines each person through the way it is deployed in the forms of language, expression and body movement. Programs like MSN messenger and Microsoft Net meeting intrude on this personal experience and even describe their services as a way to Flirt, banter, gossip, or just catch up without saying a word. The idea that you could have an intimate chat with someone over a machine seems somewhat impossible however people have been brainwashed into believing it to be the most convenient and efficient way. The use of all this technology with no real relation to human interaction can lead to a secluded and detached way of life. A good example of this is the characters personalities, or lack of, in the movie The Matrix. All the characters are intensely involved in the computer programming world and nothing else seems to pass through their train of thoughts. Although there is a supposed great love between Neo and Trinity do we ever really see this expression of passion and desire other than their sexual interaction which even then lacks the true connection of emotion. They have been programmed into seeing life as a task that must be completed and already it seems that humanity as fallen into the trap of believing that our reason on being is to advance humanity and all ...