Bank Behaviour and the Cost Channel of Monetary Transmission

This paper provides a micro-foundation of the behavior of the banking industry in a Stochastic Dynamic General Equilibrium model of the New Keynesian style. The role of banks is reduced to the supply of loans to ¯rms that must pay the wage bill before they receive revenues from sell- ing their products. This leads to the so-called cost channel of monetary policy transmission. Our model is based on the existence of a bank{client relationship which provides a rationale for monopolistic competition in the loan market. Using a Calvo-type staggered price setting approach, banks decide on their loan supply in the light of expectations about the future course of monetary policy, implying that the adjustment of loan rates to a monetary policy shock is sticky. This is in contrast to Ravenna and Walsh (2006) who focus primarily on banks operating under perfect competition, which means that the loan rate always equals the money market rate. The structural parameters of our model are determined using a minimum distance estimation, which matches the theoretical impulse responses to the empirical responses of an estimated VAR for the euro zone to a monetary policy shockNew Keynesian Model, monetary policy transmission, bank behavior, cost channel, minimum distance estimation

In vitro and In vivo Evaluationof Different Gingival Retraction Cords

Modern impression techniques used in restorative dentistry require displacementof gingival tissue to expose the subgingival finish lines on the tooth preparation. Many different medications are used on gingival retraction cords in order to minimize hemorrhage from the gingival sulcus during impression making. A common method of accomplishing gingival displacement is by packing cord into the gingival crevice. This is especially critical when using hydrophobic impression materials such as polyvinyl siloxanes. The purpose of this study was to determine whether any of the commonly used gingival retraction medications could inhibit the polymerization of polyvinyl siloxane impression materials when they are in direct contact with the setting material and to evaluate the clinical performance of retraction cords. Many gingival retraction cords in various shapes, sizes and medications are available on the market. The literature is replete with reports on the effects of medicated and non-medicated cords on impression and gingival tissue. In this study, the number of the criteria of evaluation was increased and both in vitro and in vivo studies were conducted together by three prosthodontists

International Journal of Research in Arts and Social Sciences

Abstract Nigeria is currently entangled in the web of terrorist actions waged by the Boko Haram. This has enthroned domestic terrorism in Nigeria and devastated lives and properties. The article interrogated the impact of Boko Haram insurgency, hence examined Boko Haram attacks and increasing insecurity in northern Nigeria. The study was anchored on the Marxian theory of Post-Colonial State. The theory underscores the low level of autonomy of the post-colonial states that makes it to handle crisis with trepidation and caution. The study is basically library research hence it relied on documentary method of data collection. Data were collected from secondary sources. The article revealed that most northern states especially, Borno, Yobe, Adamawa, Maiduguri have been under constant attacks by the Boko Haram while the Nigerian state as a result of its post-colonial character lacks the capacity to set the frameworks for action in society, but even where and when it does, such frameworks most often appear to be inadequate. The paper recommends, among others, that to fix the Boko Haram problem, the Nigerian government should strengthen the capacity of the security agencies, especially the Nigerian police, to be more proactive in handling threats to peace and security