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This book offers a concise introduction to OTC markets by explaining key conceptual issues and modeling techniques, and by providing readers with a foundation for more advanced subjects in this field.
The experience of the Great Recession and its aftermath revealed that a lower bound on interest rates can be a serious obstacle for fighting recessions. However, the zero lower bound is not a law of nature; it is a policy choice. The central message of this paper is that with readily available tools a central bank can enable deep negative rates whenever needed—thus maintaining the power of monetary policy in the future to end recessions within a short time. This paper demonstrates that a subset of these tools can have a big effect in enabling deep negative rates with administratively small actions on the part of the central bank. To that end, we (i) survey approaches to enable deep negativ...
One of two self-contained volumes belonging to the newly revised Steel Heat Treatment Handbook, Second Edition, this book examines the behavior and processes involved in modern steel heat treatment applications. Steel Heat Treatment: Metallurgy and Technologies presents the principles that form the basis of heat treatment processes while incorporating detailed descriptions of advances emerging since the 1997 publication of the first edition. Revised, updated, and expanded, this book ensures up-to-date and thorough discussions of how specific heat treatment processes and different alloy elements affect the structure and the classification and mechanisms of steel transformation, distortion of properties of steel alloys. The book includes entirely new chapters on heat-treated components, and the treatment of tool steels, stainless steels, and powder metallurgy steel components. Steel Heat Treatment: Metallurgy and Technologies provides a focused resource for everyday use by advanced students and practitioners in metallurgy, process design, heat treatment, and mechanical and materials engineering.
In many countries, a sizable share of international trade is carried out by intermediaries. While large firms tend to export to foreign markets directly, smaller firms typically export via intermediaries (indirect exporting). I document a set of facts that characterize the dynamic nature of indirect exporting using firm-level data from Vietnam and develop a dynamic trade model with both direct and indirect exporting modes and customer accumulation. The model is calibrated to match the dynamic moments of the data. The calibration yields fixed costs of indirect exporting that are less than a third of those of direct exporting, the variable costs of indirect exporting are twice higher, and demand for the indirectly exported products grows more slowly. Decomposing the gains from indirect and direct exporting, I find that 18 percent of the gains from trade in Vietnam are generated by indirect exporters. Finally, I demonstrate that a dynamic model that excludes the indirect exporting channel will overstate the welfare gains associated with trade liberalization by a factor of two.
Late in 2017, the global significance of the conversation about artificial intelligence (AI) changed forever. China put the world on alert when it released a plan to dominate all aspects of AI across the planet. Only weeks later, Vladimir Putin raised a Russian red flag in response by declaring AI the future for all humankind, and proclaiming that, "Whoever becomes the leader in this sphere will become the ruler of the world." The race was on. Consistent with their unique national agendas, countries throughout the world began plotting their paths and hurrying their pace. Now, not long after, the race has become a sprint. Despite everything at stake, to most of us AI remains shrouded by a clo...
The third edition of the unparalleled reference on natural ingredients and their commercial use This new Third Edition of Leung's Encyclopedia of Common Natural Ingredients: Used in Food, Drugs, and Cosmetics arrives in the wake of the huge wave of interest in dietary supplements and herbal medicine resulting from both trends in health and the Dietary Supplement and Health Education Act of 1994 (DSHEA). This fully updated and revised text includes the most recent research findings on a wide variety of ingredients, giving readers a single source for understanding and working with natural ingredients. The Encyclopedia continues the successful format for entries listed in earlier editions (cons...
This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space.This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn.
First published in 1985. The present volume is a theoretical and methodological supplement to the Nuttin's book 'Motivation, planning and action: A relational theory of behaviour dynamics’, in which he showed that behaviour dynamics in man, due to their interaction with higher cognitive functioning, are processed into gaols and means-end structures- that is behavioural projects or plans. The main purpose of the theoretical section of this book is to contribute to the integration of the future time dimension on the study of human motivation and behaviour. The moan part is then devoted to a two-step method for studying the content and density of a person's future time perspective and for measuring its depth or extension.
An extraordinary compendium of information on herbal medicine, Medicinal Plants of the World, Volume 2 comprehensively documents the medicinal value of twenty-four major plants species widely used around the world in medical formulations. The book's exhaustive summary of available scientific data for the plants provides detailed information on how each plant is used in different countries, describing both traditional therapeutic applications and what is known from its use in clinical trials. A comprehensive bibliography of over 3000 references cites the literature available from a wide range of disciplines. This book offers an unprecedented collection of vital scientific information for pharmacologists, herbal medicine practitioners, drug developers, medicinal chemists, phytochemists, toxicologists, and researchers who want to explore the use of plant materials for medicinal and related purposes.