The Global Price of Oil, QE and the US High Yield Rate

Purpose Quantitative easing (QE) allowed the US economy to stabilize and return to slow growth. Oil prices increased to $100 during 2010–2013. Then in June 2014, they plunged again dramatically to$40. The purpose of this paper is to develop and test a model that describes the price of oil as depending on six inputs: Federal assets accumulated by the Federal Reserve during the period of QE, the 10-Year Treasury note rate, the price of copper, the trade-weighted dollar, the S&P 500 Index and the US high yield rate for bonds rated CCC or below. Design/methodology/approach We use 771 overlapping 52-week regressions to capture short-run oil price dynamics. Findings We find that QE was statistically significant only during 2009–2010, while the US high yield rate played a more significant role, both during and after the crisis. Research limitations/implications This paper does not explain the behavior of oil prices prior to 2003. Practical implications This paper emphasizes the role of the high yield rate on fracking technology in financing the extraction and production of oil. Originality/value The paper has both the theoretical value for researchers in the area of energy, as well as practical application for the oil industry

Revenue Generation In Hospital Foundations: Neural Network Versus Regression Model Recommendations

This paper looks at revenue amounts generated by non-profit hospital foundations throughout the US.  A number of inputs, including, among others, compensation, type of support given to the hospital, type of foundation expenditures, and hospital size, were used to develop models of foundation revenue.  Both neural network and regression models were developed and compared in order to see which one gave a better model and to see how they ranked the relative value of the input variables.  Though the generated value of revenue for both models correlates highly with actual revenue, the neural network shows smaller error.  The order of variable importance for the models is very different.  Each model would have different implications for foundations in planning their next round of revenue generating events

Investment principles for individual retirement accounts

The phenomenal growth of individual retirement accounts in the US, and globally, challenges both individuals and their advisors to rationally manage these investments. The two essential differences between an individual retirement account and an institutional portfolio are the length of the investment horizon and the regularity of monthly contributions. The purpose of this paper is to contrast principles of institutional investing with the management of individual retirement accounts. Using monthly historical data from 1926 to 2005 we evaluate the suitability for managing individual retirement portfolios of seven principles employed in institutional investing. We discover that some of these guidelines can be beneficially applied to the investment management of individual retirement accounts while others need to be reconsidered.

The Impact of the Twin Financial Crises

We focus on the first 20 years of the Euro, from 1999 to 2019, and we split this period into two approximate decades to examine the performance of three benchmarks: the real GDP quarterly growth, the annualized real per capita GDP changes and unemployment. These illustrate that the underperformance of Europe is more evident during the second decade. Searching for causes we find that the Global Financial Crisis was an exogenous shock to the EU but its impact was large in both the U.S. and the EU. One major reason is that the U.S. responded quickly and aggressively both fiscally and via an unconventional monetary policy. The Euro area was constrained by a European Central Bank that focused on price stability, and fiscal policy was not much of an option. The second shock of the Sovereign Debt Crisis was endogenous to the Euro area and it, more than the Global Financial Crisis, revealed the original weaknesses and fragility of the European monetary union. This financial fragility quickly translated into declines in aggregate demand and economic underperformance

Computer Education And Computer Related Professions Of The Future

The purpose of this paper is to examine current positions in literature with regards to computer education and future jobs related to computer usage. The expansion of the use of computers has made “computer literacy” as essential as the basic skills of reading, writing, and arithmetic.  Morf related the rapid expansion in the use of computers as follows:  “Among the more widely accepted scenarios of the future at work are those based on the assumption that technology will continue to grow exponentially” (1983, p. 24).  Therefore, as technology grows, our educational programs must incorporate the new knowledge necessary to function in the world of the information age.  As Hart stated:  “We must prepare now to respond to the new technologies that will shape our future” (1983, p. 11)

Projected Federal Government Computer Personnel Needs: Results Of An Oklahoma Survey

The purpose of this paper is to report the results of a study made to determine the projected performance requirements and skills (training needed) by personnel entering governmental information processing jobs during the next several years as viewed by supervisors in governmental agencies.  The specific problems addressed are as follows: 1.  The identification of the performance requirements for computer programmers and systems analysts which government employers expect to be needed for employment in the field of information processing during the last have of the 1980’s; 2.  The effectiveness of currently employed computer programmers and systems analysis as determined by supervisor assessment; 3.  Identification of the areas in which colleges and universities will need to make curricular changes in order to provide the government as well as the business community with properly trained professionals in information processing