The middle way between flexible and fixed exchange rates

This paper addresses Ihe new-orthodox view that the choice of exchange rate regime lias been hollowed out to a choice between the two comer solutions of firmly fixed and more or less freely floating exchange rates. While conceding that both these regimes have an advantage over intermediate regimes in terms of being less vulnerable to crisis, as well as simplifying the policy assignment, it argues that neither a currency board nor a freely floating exchange rate regime is necessarily crisis-free. More important, neither of them offer the potential advantage of a wellmanaged intermediate regime, notably a BBC (basket, band, and crawl) system, of allowing policy to be addressed to limiting exchange rate misalignments. A number of countries with ostensibly floating currencies are revealing by their actions that they prefer an intermediate regime. While such managed floating may be a reasonable compromise given the pressure from the IMF to float, it suffers three potential disadvantages as compared to an articulated BBC regime: it is not transparent, it precludes some types of policy cooperation (such as the use of a common basket peg by a number of countries with strong trade interdependence), and it foregoes the possibility of inducing stabilizing speculation a la Krugman's analysis of target zones. The paper concludes by describing three softer versions of the BBC regime that would be less vulnerable to crises than traditional intermediate regimes: the reference rate proposal, bands with soft margins, and monitoring bands.Fixed; BBC regime; Stabilizing analysis; monitoring bands

How to Reduce the Risk Of Banking Problems

This paper reviews the existing evidence on the origins of banking crises, provides new results on the impact of government bank ownership on financial stability, and discusses policy options that can prevent and mitigate the consequences of banking crises. We find that government ownership of banks increases the likelihood and fiscal cost of crises; albeit the latter result is weak. Among the policies recommended to minimize the occurrence of crises, we highlight the importance of sound macroeconomic policies, adequate financial infrastructure, incentive compatible regulations, and limiting government interference in the banking sector.macroeconomics; financial infrastructure; financial stability

The kinetic analysis of non-isothermal carisoprodol reaction in nitrogen atmosphere using the invariant kinetic parameters method

The non-isothermal kinetic parameters corresponding to the thermal decomposition of carisoprodol under nitrogen atmosphere was investigated at four different heating rates 5, 10, 15 and 20 °C/min. The activation energy was determined using three linear isoconversional methods, Friedman, Flynn-Wall-Ozawa and Kissinger-Akahira-Sunose. Results showed good agreement with each other. Invariant kinetic parameters (IKP) method was applied in the conversion range of 0.2 ≤ α ≤ 0.8 for the determination of the kinetic triplet. Einv= 95.81 kJ/mol, Ainv = 2.275×107 1/min and the decomposition mechanism corresponds to nucleation and growth, following the Avrami-Erofeev model, A1.5, as the kinetic model. The Perez-Maqueda et al. criterion associated with the independence of activation parameters on the heating rate (by means of Coats-Redfern and Flynn-Wall equation) confirmed the model

The middle way between flexible and fixed exchange rates

This paper addresses Ihe new-orthodox view that the choice of exchange rate regime lias been hollowed out to a choice between the two comer solutions of firmly fixed and more or less freely floating exchange rates. While conceding that both these regimes have an advantage over intermediate regimes in terms of being less vulnerable to crisis, as well as simplifying the policy assignment, it argues that neither a currency board nor a freely floating exchange rate regime is necessarily crisis-free. More important, neither of them offer the potential advantage of a wellmanaged intermediate regime, notably a BBC (basket, band, and crawl) system, of allowing policy to be addressed to limiting exchange rate misalignments. A number of countries with ostensibly floating currencies are revealing by their actions that they prefer an intermediate regime. While such managed floating may be a reasonable compromise given the pressure from the IMF to float, it suffers three potential disadvantages as compared to an articulated BBC regime: it is not transparent, it precludes some types of policy cooperation (such as the use of a common basket peg by a number of countries with strong trade interdependence), and it foregoes the possibility of inducing stabilizing speculation a la Krugman's analysis of target zones. The paper concludes by describing three softer versions of the BBC regime that would be less vulnerable to crises than traditional intermediate regimes: the reference rate proposal, bands with soft margins, and monitoring bands

The middle way between flexible and fixed exchange rates

This paper addresses Ihe new-orthodox view that the choice of exchange rate regime lias been hollowed out to a choice between the two comer solutions of firmly fixed and more or less freely floating exchange rates. While conceding that both these regimes have an advantage over intermediate regimes in terms of being less vulnerable to crisis, as well as simplifying the policy assignment, it argues that neither a currency board nor a freely floating exchange rate regime is necessarily crisis-free. More important, neither of them offer the potential advantage of a wellmanaged intermediate regime, notably a BBC (basket, band, and crawl) system, of allowing policy to be addressed to limiting exchange rate misalignments. A number of countries with ostensibly floating currencies are revealing by their actions that they prefer an intermediate regime. While such managed floating may be a reasonable compromise given the pressure from the IMF to float, it suffers three potential disadvantages as compared to an articulated BBC regime: it is not transparent, it precludes some types of policy cooperation (such as the use of a common basket peg by a number of countries with strong trade interdependence), and it foregoes the possibility of inducing stabilizing speculation a la Krugman's analysis of target zones. The paper concludes by describing three softer versions of the BBC regime that would be less vulnerable to crises than traditional intermediate regimes: the reference rate proposal, bands with soft margins, and monitoring bands

How to Reduce the Risk Of Banking Problems

This paper reviews the existing evidence on the origins of banking crises, provides new results on the impact of government bank ownership on financial stability, and discusses policy options that can prevent and mitigate the consequences of banking crises. We find that government ownership of banks increases the likelihood and fiscal cost of crises; albeit the latter result is weak. Among the policies recommended to minimize the occurrence of crises, we highlight the importance of sound macroeconomic policies, adequate financial infrastructure, incentive compatible regulations, and limiting government interference in the banking sector

How to Reduce the Risk Of Banking Problems

This paper reviews the existing evidence on the origins of banking crises, provides new results on the impact of government bank ownership on financial stability, and discusses policy options that can prevent and mitigate the consequences of banking crises. We find that government ownership of banks increases the likelihood and fiscal cost of crises; albeit the latter result is weak. Among the policies recommended to minimize the occurrence of crises, we highlight the importance of sound macroeconomic policies, adequate financial infrastructure, incentive compatible regulations, and limiting government interference in the banking sector

Determination and assessment of essential elements in Acacia Nilotica-a medicinal and folk uses by different analytical methods

Acacia Nilotica is a good source of several nutrient elements essential for some metabolic processes. The pods of Acacia Nilotica collected from different areas in Sudan have been analysed for 6 minor (Li, Na, K, Mg, Ca, P) and 3 trace (Fe, Zn, Mn) elements by flame photometry and atomic absorption spectrophotometry using the standard addition and calibration curve methods, respectively. The phosphorous, however, was determined U.V. spectrophotometrically using the standard addition method for measurement of the absorbance, at 410 nm of the complex produced by the coupling of meta-molybdate ammonium vanadate with phosphorous. The ash content, density, colour and pH were also determined by standard methods. The results obtained showed that acacia nilotica samples have been found to be especially rich in several nutrient elements such as, K, Fe and P. Concentration of elements are discussed vis-à-vis their medicinal/therapeutic uses. Several statistics like PCA and correlation matrix between elements and pH were performed to the dataset in order to distinguish between geogenic enrichment, lithiogenic, and anthropogenic pollution elements found in the pods. The results suggested anthropogenic and geogenic origin of Na, Ca, P, Fe, Zn, Mn, while Li, K, Mg  showed lithogenic and/or geogenic origin and was associated and controlled by mixed origin

The Students' Motivation and Achievement in Learning English: The Correlational Study

The students have a lot on their plates already, and one of the biggest is the academic activity. Researchers have shown a correlation between intrinsic motivation and academic performance. Students' English proficiency is also influenced by their level of interest and effort in learning the language. The purpose of this research was to determine if and how students at MA Muhammadiyah Darul Arqam Punnia Labumpung, Kab. Pinrang is motivated to learn English based on their academic performance. Students' interest in English and effort in studying the language were found to be significantly related. This was demonstrated by a correlational study on students' motivation and their performance on an English language test. The first piece of good news is that the SPSS 21 program's computed r value is greater than the table at both the 5% and 1% significant level (0.367 0.852 > 0.47). Second, the computation of the contribution between student motivation and achievement in English showed that student motivation (variable X) contributed roughly 72.59% contribution to the achievement (variable Y) of the sample class, while the remaining 25.41% was influenced by other factors. Keywords: Students’ Motivation, Learning English, and English Achievement