Composition and Determinants of Fiscal Adjustment’S success in the EU27 Contex

Current context brings new challenges posed by the decrease of public revenues,through lowering the tax base and the capacity to collect taxes, and by the inability to adjust the public expenditures. All countries face the challenges of fiscal adjustment. The aim of this paper is to identify the determinant factors of success for fiscal adjustment episodesin UE 27 context. The considered factors are the need, the size and the composition of the fiscal adjustment. The result of the logit models concluded that significant fiscal adjustments lead to sustainable deficit reduction, while the composition of fiscal adjustments through policies based on public expenditure or revenues does not significantly influence the probability of success.

The Impact of Defense Expenditure on Economic Growth

The goal of this paper is to analyze the relationship between defense expenditures and economic growth in Romania, trying to find out the existence, direction and intensity of this connection. The methods which I used are cluster analysis, quintile analysis, regression technique and Granger causality. The results suggest that in Romania there is a negative correlation. A potential cause of the negative effect of defense expenditures on economic growth in Romania is the high proportion of the spending on equipment and other operational spending. Also I have considered the implications of the budgetary restriction – the limited resources might be given priority for other programs.fiscal policy, public expenditures, defense expenditures, economic growth, budget constraint

Critical Review of Main Cosmogonic Theories

Big Bang theory postulates the red shift of light coming from distant galaxies is caused by the Doppler Effect.  Like Platos astronomy, Big Bang theory has to be continuously propped up by countless patches in order to deal with new observations.  Platos astronomy required countless epicycles within epicycles.  Big Bang requires patches such as dark energy, dark matter, cosmic inflation, accelerating expansion of the Universe and countless revisions of Hubbles constant.  In addition, this theory and the fundamental law of mass and energy conservation are mutually exclusive; according to Big Bank all energy and mass appeared suddenly out of nothing.  There are of course Big Bang versions that try not to contradict the conservation law.  Such theories postulate a multi-verse populated by an infinite number of Universes or an infinite number of Universe instances.  In other words, either the most basic law of physics or Occams razor must be rejected in the most outrageous manner possible because otherwise the Doppler Effect cannot be used to explain the cosmic red shift.  For these reasons, some astronomers promoted the stationary Universe theory and assumed that photons lose a significant amount of energy while traversing intergalactic distances and therefore suffer a red shift.  This assumption is the basis of all Tired Light theories.  According to Tired Light, photon energy loss is caused by collisions with other objects such as gas molecules or dust.  As a result, this theory was quickly dismissed, because this loss mechanism cannot explain the broadening of supernova spectra, the variable rate of photon frequency decay and the fact that the image of distant objects is not blurred.  Subsequently other versions of Tired Light theories were ignored because supposedly any other loss mechanism is not compatible with GTR field equations.  According to these equations, when the photon structure is ignored, the energy momentum-tensor of a photon moving freely through space is constant.   Experiments with laser beams show this conclusion is not exactly true.  Therefore even free photons actually lose some minute amount of energy.   What physical mechanism may explain this loss?  A simple experiment with a common object will immediately reveal this mechanism.  Internal interactions are the main mechanism responsible for the gradual dampening of spring oscillations and loss of energy, not collisions with other objects.   When damping of photon oscillations caused by internal friction is considered, a new version of Tired Light can be formulated; a version that is validated by all astronomic observations without recourse to any patches and without rejecting the law of energy and mass conservation or Occams razor

Length Contraction with Speed Explained as a Relativistic Doppler Effect

In this paper the authors show that the mechanism of length contraction is simple and can be explained by the wave feature of body micro-components. From this point of view, the length contraction with speed perceived by a fixed observer is a Doppler relativistic effect

Mass Increase with Speed Explained as a Relativistic Doppler Effect

In this paper the authors show that the mechanism of mass increase is simple and  can be explained by the wave feature of body micro-comps. From this point of view, the mass increase with speed perceived by a fixed observer is a Doppler relativistic effect

Empirical evidence on risk aversion for individual romanian capital market investors

The evolution of stock prices is influenced by the expectations of investors regarding the earning prospects associated to each listed company. One of the key elements of investment decision is the positive relationship between risk and return. Risky securities are preferred to less risky ones only if there is a higher pay-off in the long run that could compensate the investors. The previous studies proved that expected return direct correlated with risk and, due to the presence of risk aversion, this relationship is assumed to be positive one. Risk premium is determined by a lot of factors including risk aversion. The intensity of risk aversion and the evolution of it during a specific period of time are very important for any market. This study proposed an analysis of risk aversion that is based on a specific survey and it is very useful for comparative analysis with other similar studies developed on the case of other emerging markets (from EU or outside EU).risk aversion, individual investor, Romanian capital market

The manner and time course of updating quantifier scope representations in discourse

We present the results of two experiments, an eye-tracking study and a follow-up self-paced reading study, investigating the interpretation of quantifier scope in sentences with three quantifiers: two indefinites in subject and object positions and a universal distributive quantifier in adjunct position. In addition to the fact that such three-way scope interactions have not been experimentally investigated before, they enable us to distinguish between different theories of quantifier scope interpretation in ways that are not possible when only simpler, two-way interactions are considered. The experiments show that contrary to underspecification theories of scope, a totally ordered scope-hierarchy representation is maintained and modified across sentences and this scope representation cannot be reduced to the truth-conditional/mental model representation of sentential meaning. The experiments also show that the processor uses scope-disambiguating information as early as possible to (re)analyze scope representation

Sentinel lymph node in early stage ovarian cancer; a literature review

Although sentinel lymph node mapping has been widely implemented in gynecological malignancies in order to minimize the number of unnecessary lymph node dissections and to diminish postoperative morbidity rate, little is known about ovarian cancer sentinel lymph node mapping. This article presents a literature review regarding the effectiveness, safety and benefits of this method. Sentinel lymph node detection in early stage ovarian cancer seems to be a safe and effective method, able to minimize the rate of patients submitted to unnecessary lymph node dissection. The second goal of the procedure, to minimize the risk of missing involved lymph nodes, seems also to have been achieved, most studies reporting a very small number of cases diagnosed with positive non-sentinel lymph nodes. Considering all these data we can note that this procedure is not yet included as part of the standard therapeutic protocol, so that further studies would be necessary to include it as a common therapeutic approach in the case of patients with early stage ovarian cancer

EUROPEAN POLICY CONCERNING THE PROTECTION OF THE QUALITY OF THE ENVIRONMENTAL FACTOR - WATER

European Union environmental policy, as was established in the EC Treaty aims at ensuring environmental sustainability activities through its inclusion in EU sectoral policies, by developing measures to prevent by following the basic principles of sustainable development and by taking joint responsibilities. Environmental legislation is one of those tools that combine management of natural resources with the prevention and control of the pollution. These laws attempt to prevent, or at least limit the effects of environmental degradation caused by the phenomenon of pollution. Environmental legislation should primarily be flexible in the sense to allow the fulfillment of current and the future goals in order to stimulate sustainable development concept and to base on general criteria for the purposes of allowing the extension to complex environmental problems. The environmental legislation is due to focus on integrating the source - effect policy, that is to focus on regulations for issuing permits for pollution, but also the responsibility of companies and citizens.Despite the significant improvements that have occurred especially in reducing air and water pollution, European legislation should be developed further. It is true that there are still many points that require completion and perfection, but the path followed is the best. In the European Union the process of implementation and adoption of new regulations on environmental protection (regulations, directives, decisions,recommendations) to combat the causes of degradation of environmental quality and life quality time with them continues