1,183,946 research outputs found

    Trade, Democracy, and the FTAA: Public Access to the Process of Constructing a Free Trade Area of the Americas

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    The Article concentrates on access for non-profit or public interest elements of civil society rather than for-profit business interests, because public interest organizations have been more marginalized from the FTAA, and their interests are more diffuse and conflicting - rendering their integration more problematic. It also concentrates on the multilateral process in the context of Ministerial meetings rather than trade policymaking at a national level because of the symbolic value attached to meetings of ministers, and the unique opportunities for public dialogue offered by these high-level meetings

    Is the CNB Predictable?

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    This paper asks to what extent were the last one hundred policy decisions taken by the Czech National Bank (CNB) considered predictable by the market. The results are threefold. First, CNB policy decisions can be considered as predictable on average. Second, policy predictability followed no clear trend. Third, the analysis shows that it was more difficult for the market to predict policy outcomes regarding CNB Board meetings where interest rate were changed compared with meetings where repo rate were not changed.monetary policy, determination of interest rates, term structure of interest rates

    International perspectives on validity in action research: introduction to the special issue

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    This special issue has its roots in a series of meetings at the annual EGOS conferences held between 2001 and 2007. The Action Research sub-theme at these annual meetings has attracted almost 200 papers from authors on every continent. A particular focus of the group has been the socio-economic approach to action research developed by Henri Savall and the ISEOR team which discusses what Savall describes as "Generic Contingencies” and a “qualimetrics research methodology” (2003). The meetings have drawn together a truly international grouping of researchers who share a common interest in working closely with the world of practice to “make a difference.

    Central Bank transparency and the U.S. interest rates level and volatility response to U.S. news

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    This paper investigates the impact of U.S. macroeconomic and monetary news on market interest rate level and volatility. These news relate to Federal Reserve System (FED) target variables and unexpected policy rate changes. It examines whether the fact that FED announces its policy rate decisions immediately after each Federal Open Market Committee (FOMC) meeting alters the market rate response. These meetings occur regularly at scheduled time since February 1994. It also checks if this transparency measure (i.e. announcing the policy rate immediately after the meetings and regularly at scheduled time) has increased the predictability of FED's rates by the market. The results reveal that after 1994, financial markets can better foresee monetary policy decisions compared to the period when the policy rate was announced with a delay of 45 days after the meetings. Moreover, U.S. interest rate volatility is less affected by the announcements on FED target variables after 1994. In the same way, unexpected monetary policy decisions influence less interest rate level. These results suggest that, in accordance with theory, a greater transparency improves market participants' understanding of the Federal Reserve's monetary policy reaction function. Interestingly, the date on which FED announces the policy rate decision has a greater impact on U.S. interest rate volatility after 1994. This observation suggests that the FED's credibility might have decreased after 1994. However, it is not related to the immediate diffusion of policy rate decisions.Monetary policy; news announcements; transparency; term structure of interest rates; EGARCH

    Nurses\u27 Alumnae Association Bulletin, April 1961

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    Alumnae Meetings 1960 Social Committee Clara Melville Scholarship Fund Bulletin Committee Private Duty Nurse\u27s Section Report of the School of Nursing and Nursing Service Staff Nurses Association Student Activities Personal Items of Interest Expansion of Jefferson Artificial Kidney Unit Medical Work in the Congo Marriages New Arrivals Necrology Annual Giving Fun

    Purdah: on the rationale for central bank silence around policy meetings

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    Despite substantial differences in monetary policy and communication strategies, many central banks share the practice of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events. This practice is remarkable, as it seems to contradict the virtue of transparency by requiring central banks to withhold information precisely when it is sought after intensely. However, imposing such a limit to communication has often been justified on grounds that such communication may create excessive market volatility and unnecessary speculation. This short paper assesses the purdah for the Federal Reserve. The empirical results confirm the conjecture that financial markets are substantially more sensitive to central bank communication around policy meetings. Short-term interest rates react three to four times more strongly to statements in the purdah before FOMC meetings than during other times, and market volatility increases (compared to a volatility reduction induced by statements otherwise). The findings thus offer relevant insights about the limits to central bank transparency. JEL Classification: E58, E52, E43communication, effectiveness, Federal Reserve, Interest Rates, monetary policy, purdah, transparency

    Nurses\u27 Alumnae Association Bulletin, May 1960

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    Accreditation of Programs in Nursing Alumnae Meetings, 1959 Committee Reports Greetings from the President Highlights from first issue of Alumnae Bulletin Living in the new nurses residence Lost Members Marriages Necrology New Arrivals Notices Personal Items of Interest Report of the School of Nursing and Nursing Services Staff Nurses Association Student Activities Year of tremendous growth and expansio

    20th annual meeting of the WEFTA Working Group on Analytical Methods in Fish and Fishery Products and 3rd annual meeting of the WEFTA Working Group on Microbiology. A retrospect on 20 years

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    After 20 annual meetings it is worth to have a look back and to see how it has started. There has been very little collaboration on research projects between member institutes under the auspices of WEFTA, co-operation in more neutral areas of common interest was developed at an early stage. The area which has proved very fruitful is methodology. It was agreed that probably the best way to make progress was to arrange meetings at each laboratory in turn where experienced, practising scientists could describe in detail how they carried out analyses. In this way, difficulties could be demonstrated or uncovered, and the accuracy, precision, efficiency and cost of the methods used in different laboratories could be compared

    Central Bank Communication and Exchange Rate Volatility: A GARCH Analysis

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    We examine the effects of the Czech National Bank communication, macroeconomic news and interest rate differential on exchange rate volatility using generalized autoregressive conditional heteroscedasticity model. Our results suggest that central bank communication has a calming effect on exchange rate volatility. The timing of central bank communication seems to matter, too, as financial markets respond more to the communication before the policy meetings than after them. Next, macroeconomic news releases are found to reduce exchange rate volatility, while interest rate differential seems to increase it.http://deepblue.lib.umich.edu/bitstream/2027.42/64364/1/wp962.pd

    RACIAL MINORITIES IN U.S. HISTORY TEXTBOOKS: A CASE FOR A MORE SYSTEMATIC APPROACH TO TEXTBOOK EVALUATION

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    A few decades ago, textbook adoption proceedings were relatively dull affairs. Present at these meetings were political, business, and labor interest group representatives who were primarily concerned with the treatment their constituencies received in textbooks, especially social studies texts. Expressing common concerns, board members and traditional interest group representatives only occasionally debated what ought to be included in social studies texts. The dealings rarely bordered on the sensational and, in most cases, resulted in minimal discussion and acceptance of texts recommended for adoption by a board\u27s textbook committee
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