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This case reviews different varieties of currency crises and two in particular: United Kingdom in 1992 and Hong Kong in 1998. These were two very different types of…
This case reviews different varieties of currency crises and two in particular: United Kingdom in 1992 and Hong Kong in 1998. These were two very different types of crises, and understanding them could serve the protagonist well when future crises occurred.
After experiencing long, multiyear surges and slides in past decades, by summer 2013, the dollar had been range-bound against the euro. In this case, by assessing…
After experiencing long, multiyear surges and slides in past decades, by summer 2013, the dollar had been range-bound against the euro. In this case, by assessing potential capital flows, students consider whether global currency market trends would propel the dollar higher, or if the past few years were just a pause in a much longer dollar depreciation episode. Suitable for both core and elective MBA courses in global financial markets and international finance, this case explores factors pointing to further euro appreciation and to others favoring the dollar. Sorting through mounds of evidence is necessary before forecasting the exchange rate's likely path. Filtering that evidence requires thinking about FX markets, prospective monetary policies, and past and prospective international capital flows.
At what point in the tepid recovery from the global financial crisis should the Fed take a major step in normalizing U.S. monetary policy by greatly reducing its holdings of U.S. Treasury bonds? Federal Reserve Board Chairman Ben Bernanke faced this question in Spring 2012, even as he was concerned that the U.S. economy was on weaker footing than many believed. Suitable for both core and elective MBA courses in global financial markets and international finance, this case examines the risks associated with a policy some would consider monetizing the budget deficit. Students consider the factors behind the current and prospective levels of U.S. long-term interest rates from Bernanke's perspective.
A hedge-fund strategist had two decisions to make. First, what was the path of core euro zone long-term interest rates likely to be over the next year? Was the dramatic…
A hedge-fund strategist had two decisions to make. First, what was the path of core euro zone long-term interest rates likely to be over the next year? Was the dramatic decline in German long rates over the past few years an aberration that would soon be reversed, or was it part of the “new normal” that would persist for some time? Second, how would periphery long rates evolve relative to core rates? That is—the spread between long rates in the likes of Greece, Spain, and Ireland and those in Germany—how would they evolve over the next year? Was the dramatic divergence in euro zone long rates likely to persist, or would the coming year see a continuation of the modest reconvergence that has occurred since mid–2012? He knew many factors influenced long-term interest rates; he would have to use his entire toolkit to address this issue. The evidence was in no way clear-cut. Some factors pointed toward lower German rates, some toward higher, some toward a widening of euro zone spreads (even a dissolution of the euro zone as we know it?), and some toward reconvergence.
In mid-February 2009, amid the global financial crisis, the news was grim. The U.S. economy had been in recession since December 2007. If the downturn lasted into early…
In mid-February 2009, amid the global financial crisis, the news was grim. The U.S. economy had been in recession since December 2007. If the downturn lasted into early spring, it would become America's longest postwar recession. The economy had shed 3.5 million jobs over the previous 12 months, the worst 12-month period on record. Bank lending was plummeting; the few banks with funds available were holding onto them. With this massive shift into liquid assets (cash and cash equivalents) and away from lending of any sort (even for productive uses or, in many cases, the working capital firms needed to survive), the economy would likely grind to a halt. On this brisk mid-February day in Washington, Timothy Geithner and Ben Bernanke rolled up their sleeves and reevaluated their plans to address the nearly impossible task of righting the ship. In terms of monetary and fiscal policy, were they doing all they could to halt this epic slide? Were they doing too much?
Special education in the USA is, in most respects, a 20th century phenomenon and is now governed primarily by federal legislation first enacted in 1975. The federal law in…
Special education in the USA is, in most respects, a 20th century phenomenon and is now governed primarily by federal legislation first enacted in 1975. The federal law in its most recent reauthorization (2004) continues to require a free appropriate public education (FAPE) for all students with disabilities, a full continuum of alternative placements (CAP) ranging from residential or hospital care to inclusion in general education, an individual education plan or program (IEP) for each student identified as needing special education, and placement in the least restrictive environment (LRE) that is thought best for implementing the IEP. Parents must be involved in the special education process. Approximately 14 percent of public school students were identified for special education in 2004–2005, but the number and percentage of students identified in most high-incidence categories as needing special education have declined in recent years (the total for all categories was about 8.5 percent of public school students in 2010). A variety of evidence-based interventions can be used to address the wide range of instructional and behavioral needs of students with disabilities and their families, including transition to further education or work, family services, and teacher education. Special education in the USA may find new sources of support and thrive or may become less common or be abandoned entirely due to criticism and withdrawal of support for social welfare programs of government.
Change is not synonymous with improvement. Improvement of special education requires better instruction of individuals with disabilities. Although LRE and inclusion are…
Change is not synonymous with improvement. Improvement of special education requires better instruction of individuals with disabilities. Although LRE and inclusion are important issues, they are not the primary legal or practical issues in improving special education. Federal law (IDEA) requires a continuum of alternative placements, not placement in general education in all cases. To make actual progress in education of students with disabilities, a single and strict principle of equality or/and antidiscriminatory legal instruments, such as the CRPD, is not enough. Social justice as a multifaceted principle can serve the education of the whole spectrum of special educational needs in national and international contexts. Responsible inclusion demands attention to the individual instructional needs of individuals with disabilities and consideration of the practical realities involved in teaching. If inclusive education is to move forward, it must involve placing students with disabilities in general education only if that is the environment in which they seem most likely to learn the skills that will be most important for their futures.
This article aims to describe ebrary, a new digital library.
This article aims to describe ebrary, a new digital library.
The article is prepared by a library professional and provides a summary of the main features.
A new digital library, ebrary is powerful system that cost effectively and efficiently creates highly interactive, online databases of content. ebrary creates databases of books, maps, sheet music, reports and other authoritative content from leading publishers, which they license to libraries and other institutions worldwide.
This article is a useful summary of a development of interest to library and information management professionals.
The importance of housing in enhancing the quality of life has been widely reported. It represents one of the basic human needs, provides protection from harm and ensures…
The importance of housing in enhancing the quality of life has been widely reported. It represents one of the basic human needs, provides protection from harm and ensures survival. Like many developing countries, different Ghanaian governments have variously pursued several programs and interventionsdirected at addressing the country's housing challenges including housing loan schemes in the colonial era to affordable housing projects in the 2000s. Notwithstanding, access to adequate housing for the low to middle-income groups still remains unresolved. This paper is an attempt to gain deeper insights into Ghana's housing situation, its challenges and the efforts made by governments during the periods before independence and after independence. The nature of the housing policies implemented during such eras is explored and the reasons for the implementation failures examined. In the end, the paper provides policy recommendations that could potentially help increase the supply of affordable urban housing in the country. The paper calls for a strong political will and pragmatic intelligence in the implementation of housing policies and programs in the country. Mechanisms to provide sufficienthousing finance for the poor to adequately participate in the housing market have also been outlined. It is concluded that the over-empowerment of the private real estate sector to be the major providers of housing may not be optimal. Rather, it would only lead to the inability of the poor to be able to actively participate in the housing market, consequently exacerbating housing poverty. Effective public-private partnership has the potential to guarantee the supply of reasonably-priced and affordable housing provision.
Following deregulation, the airline industry has dramatically changed. In addition to numerous mergers and bankruptcies, the industry has also seen an influx of small…
Following deregulation, the airline industry has dramatically changed. In addition to numerous mergers and bankruptcies, the industry has also seen an influx of small, “low-cost” carriers who offer differentiated competition to the traditional legacy carriers. These low-cost carriers traditionally avoided the hub-and-spoke networks of legacy carriers, offering point-to-point service often on adjacent routes. However, events of the past 10–15 years, including the terrorist attacks of 9/11, rising fuel prices, and economic recessions, have led to a shift in the operations of these airlines. The legacy carriers have unbundled many of their services, most notably through baggage fees, seeking to improve efficiency. Low-cost carriers have expanded services into major airports and have shifted to more direct route level competition with the legacy carriers as they use their cost efficiency advantages to their advantage. In this chapter, we examine airport and route choice decision to serve by legacy and low-cost carriers over time. Our descriptive and econometric models point to convergence of operations in terms of the airports and routes that low-cost and legacy carriers serve, with the implication that the current competitive atmosphere improves efficiency as the distinctions between legacy and low-cost carriers have become less obvious.