This paper provides a model to explain a puzzle connected with IPOs Initial Public Offering: why underwriters often create naked short positions - not covered by an over-allotment option - when share prices usually increase in the aftermarket, exposing them to loss. The economics of stabilization and naked short positions...
In response to high and chronic inflation, countries have adopted different stabilization policies. However, the extent to which these stabilization programs were designed for political motives is not clear. Since exchange-rate-based stabilizations ERBS create an initial consumption boom followed by a contraction, whereas money-based stabilizations MBS generate a consumption bust...
NMR tomography based on the resistive magnets is advantageous, because of inexpensive operation. Disadvantage is relatively complicated stabilization of the current, which supplies resistive magnet. Current stabilization has to be used to overcome mistakes in main current caused by the drifts in the power supply, temperature changes of magnet coils,...
This paper tests the empirical validity of forward-looking pricing behavior in Mexico and Turkey, two countries which have experienced Exchange rate-based inflation stabilization ERBS. It finds that the forward- and backward-looking components of inflation weigh approximately equally in pricing behavior, and therefore, that inflation is partially sticky. The paper then...
Countries experiencing high inflation typically make several disinflation attempts, some of which succeed only temporarily. Perhaps the best documented cases of failed stabilizations are in Latin America: the Southern Cone tablita experiments of the late 1970s and early 1980s and the heterodox programs of the mid-1980s. At the same time,...
This article emphasizes the need of stabilization of pipelines and cables subsea, which is required due to the natural forces being greater than the original constructed or installed pipeline or cable. The pipelines can only be coated with material up to the overall ability to be handled and laid. This...
This paper shows that the risk of devaluation can be an important factor accounting for the stylized facts of exchange-rate-based stabilizations. This conclusion follows from studying the quantitative implications of a two-sector equilibrium business cycle model of a small open economy calibrated to Mexico's 1987-1994 stabilization plan. In the model...
Many inflation stabilizations succeed only temporarily. Using a sample of 51 episodes of stabilization from inflation levels above 40 percent, it is shown that most of the failures are explained by bad luck, unfavorable initial conditions, and inadequate political institutions. The evolution of trading partners’ demand and U. S. interest...
The U.K. life industry continues to show signs of increasing concentration and stabilization, reflecting a strongly competitive environment where scale is more crucial than ever, according to the ... The U.K. life industry continues to show signs of increasing concentration and stabilization, reflecting a strongly competitive...
During the 1990s, Argentina did considerable progress in implementing market-oriented structural reforms. The reform package was based on three pillars: a wide opening of the economy; an ambitious privatization and deregulation program; and the stabilization of prices based on a predetermined nominal exchange rate anchor, instrumented by implementing monetary currency...
Policy options for protecting Mexico's econorny from volatility in oil revenues without eliminating the benefits from rising prices include a stabilization fund and hedging strategies on international markets. A stabilization fund and hedging strategies can complement each other-the fund working as the main recipient of revenues, and the hedging strategies...
This paper considers whether the development of electronic money' poses any threat to the ability of central banks to control the value of their national currencies through conventional monetary policy. It argues that even if the demand for base money for use in facilitating transactions is largely or even completely...
Budget rules can be defined as legislated or constitutional constraints on government deficits, taxes, expenditures, or debt. This paper review the budget rules recently legislated in six of Canada's provinces and both of its territories, as well as budget rules in other OECD countries. In theory, budget rules appear to...
Titanium dioxide (Ti[O.sub.2]) only exhibits its best properties when it is well stabilized against flocculation in the organic binder. This paper deals with the proper selection of additives for the stabilization of Ti[O.sub.2] according to the isoc Titanium dioxide (Ti[O.sub.2]) only exhibits its best properties ...
Byline: MARK A. HOFMANN The directors and officers liability insurance market, though still hard, is showing some signs of stabilization, according to a report released last week. The percentage of respondents who faced premium increases on ren Byline: MARK A....
INTRODUCTION Co-ferrites have attracted much attention in recent years as one of the candidates for high density magnetic recording and magneto-optical recording media because of their unique physical properties such as high Curie temperature, large magnetic anisotropy, moderate magnetization, excellent chemical stability and large Kerr and Faraday rotations...
INTRODUCTION A huge amount of investments are used for maintenance, construction and extending roads and freeways in many countries. Statistics shows that during last fifty years, the most investments are used on roads in compare to other general infrastructures (1). The roads built with conventional methods...
Introduction With high hospitalisation rates and widespread social exclusion, mental illness is a profound health and social need that requires an integrated policy approach (Shepherd 2007). In the past, mental health models of support for people with acute mental illness have focussed on clinical symptoms, rather than addressing...
INTRODUCTION A Unified Power Controller UPFC is a versatile FACTS device that is used to regulate the active and reactive power flow and the line voltage at it's both sides. It can also improve the dynamic or transient stability of power system (1), (2). For the...
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