This document provides an outline and notes for a presentation on designing a strategy for Ireland's economic recovery given the international financial crisis. The presentation discusses the global factors that contributed to the crisis, including unsustainable imbalances and innovative but risky financial products. It notes that while some warned of problems, the risks were difficult to measure. The document then discusses how Ireland's economy became integrated into the global system and overly reliant on construction, leaving it vulnerable to the crisis. It argues Ireland should have exercised more regulatory oversight and addresses challenges in developing a recovery strategy.
The document discusses views of Austrian economists and Keynesians on the global economic situation. Austrian economists suggest allowing failures and reducing government and debt, while Keynesians support stimulus and bailouts. Examples given are Marc Faber, Jim Rogers, and Peter Schiff for Austrians and Paul Krugman, Joseph Stiglitz, and Mark Zandi for Keynesians. The conclusion notes ongoing debate around austerity versus stimulus approaches, with most countries using Keynesian policies except Iceland and Italy. Potential future events discussed include more austerity protests, need to address US debt, adjustments to currency valuations, and further central bank actions.
The euro has fallen to a 12-year low against the US dollar due to divergent monetary policies between the European Central Bank and US Federal Reserve. The ECB has implemented quantitative easing measures to purchase toxic loans and bonds, lowering interest rates to combat deflation in the eurozone. However, this is weakening the euro. Additionally, the crisis in Greece adds downward pressure and concerns that Greece may exit the eurozone. A weaker euro boosts European exports but hurts US companies relying on exports to Europe. It benefits US importers and companies relying on imports. Investors must consider the impact of euro fluctuations on trade and their investment strategies.
Objective Capital's Global Resources Investment Conference 2011
Stationers' Hall, City of London
27-28 September 2011
Day 1- Session1: The context in which we operate
Speaker: Chris Watling, Longview Economics
Over the last 4 years the Icelandic economy has gone from financial disintegration to an emerging recovery and in doing so has taken a different policy stance than other economies faced with similar economic conditions.
This document discusses financial crises, their causes and effects. It provides examples of financial crises like recessions and currency crises. Financial crises can stem from economic and political issues as well as disasters. They force quick decisions. Both positive and negative effects are described. Negatively, financial crises seriously impact developing economies. Positively, they may encourage more diverse economic development. Everyone from investors to employees and companies feels the impact. The level of impact varies globally. Human suffering like starvation and migration can result from global crises.
The document provides an analysis of the eurozone financial crisis, covering the formation of the eurozone, the causes of the crisis including high borrowing levels in Greece, Ireland, Portugal, Italy and Spain, and the response of the European Central Bank and governments. It examines the multi-faceted problems, including sovereign and private debt issues as well as unproductive investment, and considers options for addressing the crisis but finds no clear solution.
The document summarizes a paper that models the global financial crisis using an intertemporal general equilibrium model. It explores the impacts of shocks to global housing markets and increases in risk premiums for firms, households, and international investors. The model has six production sectors and models trade between 15 major economies. The paper shows that the observed financial market shocks can generate the severe contraction in global trade and production seen in 2009. It finds that durable and non-durable goods trade is differentially impacted, explaining differences between GDP and trade declines across countries. The future path depends on whether the shocks to risk are expected to be permanent or temporary.
This document discusses the formation of the Eurozone and the single European currency. It addresses why the Eurozone was initially deemed a non-optimal currency area due to issues like poor labor mobility and lack of fiscal transfers. However, the euro was introduced anyway for political reasons of further European integration. The document also briefly describes the precursors to the euro, including the European Exchange Rate Mechanism of the 1980s and the convergence criteria of the 1990s. Finally, it discusses advantages of the euro like encouraging trade by reducing transaction costs and currency risk, as well as having the European Central Bank which has helped reduce inflation.
The document discusses views of Austrian economists and Keynesians on the global economic situation. Austrian economists suggest allowing failures and reducing government and debt, while Keynesians support stimulus and bailouts. Examples given are Marc Faber, Jim Rogers, and Peter Schiff for Austrians and Paul Krugman, Joseph Stiglitz, and Mark Zandi for Keynesians. The conclusion notes ongoing debate around austerity versus stimulus approaches, with most countries using Keynesian policies except Iceland and Italy. Potential future events discussed include more austerity protests, need to address US debt, adjustments to currency valuations, and further central bank actions.
The euro has fallen to a 12-year low against the US dollar due to divergent monetary policies between the European Central Bank and US Federal Reserve. The ECB has implemented quantitative easing measures to purchase toxic loans and bonds, lowering interest rates to combat deflation in the eurozone. However, this is weakening the euro. Additionally, the crisis in Greece adds downward pressure and concerns that Greece may exit the eurozone. A weaker euro boosts European exports but hurts US companies relying on exports to Europe. It benefits US importers and companies relying on imports. Investors must consider the impact of euro fluctuations on trade and their investment strategies.
Objective Capital's Global Resources Investment Conference 2011
Stationers' Hall, City of London
27-28 September 2011
Day 1- Session1: The context in which we operate
Speaker: Chris Watling, Longview Economics
Over the last 4 years the Icelandic economy has gone from financial disintegration to an emerging recovery and in doing so has taken a different policy stance than other economies faced with similar economic conditions.
This document discusses financial crises, their causes and effects. It provides examples of financial crises like recessions and currency crises. Financial crises can stem from economic and political issues as well as disasters. They force quick decisions. Both positive and negative effects are described. Negatively, financial crises seriously impact developing economies. Positively, they may encourage more diverse economic development. Everyone from investors to employees and companies feels the impact. The level of impact varies globally. Human suffering like starvation and migration can result from global crises.
The document provides an analysis of the eurozone financial crisis, covering the formation of the eurozone, the causes of the crisis including high borrowing levels in Greece, Ireland, Portugal, Italy and Spain, and the response of the European Central Bank and governments. It examines the multi-faceted problems, including sovereign and private debt issues as well as unproductive investment, and considers options for addressing the crisis but finds no clear solution.
The document summarizes a paper that models the global financial crisis using an intertemporal general equilibrium model. It explores the impacts of shocks to global housing markets and increases in risk premiums for firms, households, and international investors. The model has six production sectors and models trade between 15 major economies. The paper shows that the observed financial market shocks can generate the severe contraction in global trade and production seen in 2009. It finds that durable and non-durable goods trade is differentially impacted, explaining differences between GDP and trade declines across countries. The future path depends on whether the shocks to risk are expected to be permanent or temporary.
This document discusses the formation of the Eurozone and the single European currency. It addresses why the Eurozone was initially deemed a non-optimal currency area due to issues like poor labor mobility and lack of fiscal transfers. However, the euro was introduced anyway for political reasons of further European integration. The document also briefly describes the precursors to the euro, including the European Exchange Rate Mechanism of the 1980s and the convergence criteria of the 1990s. Finally, it discusses advantages of the euro like encouraging trade by reducing transaction costs and currency risk, as well as having the European Central Bank which has helped reduce inflation.
El señalizador de las señales de la carretera borrachocentrowebs
La persona que tiene que poner las señales en nuestras carreteras debia de tener una pedazo borrachera impresionante para colocar asi las señales, del reves, en estanques, un autentico disparate.
While the narrator's life has changed significantly since college, with increased financial stability and material comforts, they find themselves less happy and feeling lonelier. They reflect on how aspects of their life such as meals, transportation, technology and social circles have upgraded considerably, yet paradoxically they feel a greater sense of distance from things and people that once brought them fulfillment.
La firma digital es una nueva tecnología validada legalmente en Ecuador que reemplaza la firma manuscrita tradicional. El Banco Central del Ecuador emite los certificados de firma digital, que son códigos almacenados en dispositivos USB similares. Aproximadamente 100 usuarios en Ecuador ya usan la firma digital, incluyendo bancos, estudiantes y empresas. La firma digital ofrece seguridad al cifrar documentos y requerir claves de acceso, además de ahorrar tiempo y papel al eliminar trámites físicos.
General Colin Powell provides 18 lessons on leadership based on his experience as Chairman of the Joint Chiefs of Staff. Some of the key lessons include: being responsible means making difficult decisions that will upset some people; leaders must address problems brought to them by their team; don't be swayed by experts or elites and instead focus on results; and attracting the best people is key to accomplishing great things. Powell emphasizes that effective leadership requires making tough choices, focusing on execution over plans, and simplifying solutions so everyone can understand.
Learning Tools for Web 2.0:Integration vs. FrustrationSharonGS
The document discusses the integration and frustration of using Web 2.0 tools for learning. It provides examples of tools like wikis, podcasting, blogging, and VoiceThread that can be integrated into learning. However, teachers and students can become frustrated by the number of tools, reliability issues, public nature of tools, and lack of technical skills. The document recommends strategies like choosing well-known tools, creating a personal learning environment, and using tools to learn about tools to move from frustration to integration.
Este documento presenta un supuesto "test de personalidad del Dalai Lama" que consiste en 4 preguntas con respuestas que revelarán información sobre las prioridades, personalidad y relaciones importantes de la persona. Se insta a quien lo recibe a enviarlo a tantas personas como pueda dentro de las próximas 96 horas para que sus deseos se hagan realidad dependiendo de la cantidad de personas a las que se les envíe.
CreditU provides banking services to credit unions and has a main office and satellite office. They currently have an environment heavily relying on Microsoft software and Dell hardware that is becoming outdated. The document recommends upgrading and modernizing their software, hardware, and disaster recovery processes.
EC4024 Lecture 14: Iceland and Ireland: Fair and Unfair ComparisonsStephen Kinsella
This document compares the economic situations of Iceland and Ireland following the 2008 financial crisis. It discusses how Iceland's lack of prudent regulation and supervision of its privatized banks led to a highly leveraged and unstable financial system. When the crisis hit, all three of Iceland's big banks failed. The document examines the causes and lessons from Iceland's experience, including the role of inflation targeting and speculative finance, and draws parallels to Ireland's experience during the same time period.
1. Ireland's membership in the EU contributed to its 2008 fiscal crisis in several ways. The introduction of the euro in particular led to low interest rates that fueled a property bubble in Ireland through reckless lending by Irish banks. Political mismanagement exacerbated the situation.
2. When the global financial crisis hit in 2008, Ireland was vulnerable because it could no longer independently set interest rates or print money as an eurozone member. To prevent a banking collapse, the Irish government issued an unlimited bank guarantee that ultimately saddled taxpayers with the banks' debts.
3. The EU and ECB response has also hindered Ireland's recovery at times. Bailout terms have been criticized as unfair compared to other countries like
Breaking the "Doom Loop" using the Danish mortgage systemJames Wood
This presentation seeks to outline how the stability of the Danish mortgage system could be implemented in Britain to break the "Doom Loop" that sees the state repeated bail out "too big to fail" banks.
Eton College Forum on the Global Financial Crisistutor2u
The title of this event is ‘No More Business As Usual: How to Avoid Another Financial Crash.’ The 2008 crisis marked a sea-change point.It was a fa ilure on three counts: 1. A failure of oversight from Governments and Central Banks alike, 2. A failure of modeling in not being able to predict the crash and 3. A failure of ideology. Underpinning the crisis was the fundamentally flawed neo-liberal ideologue which has dominated main-stream economic thinking.
The document discusses the causes and effects of Ireland's economic crisis in 2008 as well as the measures taken by the government to address it. The crisis was precipitated by a housing bubble fueled by excessive bank lending. This led to a collapse in tax revenues and rising unemployment. In response, Ireland implemented an EU-IMF program that stabilized the banking sector through recapitalization, pursued fiscal adjustment through spending cuts and tax increases, and has seen a return to growth in recent years. Macroeconomic indicators show the impact of the crisis and subsequent recovery.
This document discusses the 2008 financial crisis and its impact on the UK. It begins by defining a financial crisis and explaining the housing bubble and subprime lending practices in the US that triggered the crisis. It then discusses the effects in the UK, including falling retail sales, rising unemployment, and GDP declining by 1.5% in the fourth quarter of 2008, officially pushing the country into recession. The document also outlines some measures taken by the UK government to stimulate the economy through recapitalizing banks, loan guarantees, and an asset protection scheme.
This document discusses financial fragility in Ireland and corporate governance failures that contributed to the crisis. It defines governance as the exercise of power through policies enacted by self-interested agents. It also lists a history of financial crises from the 1980s to the 2000s. The document recommends reforms like speeding structural change, job creation, nationalizing banks, and fostering less procyclical leveraging to prevent future crises.
A round-up of the current state of the global and Australian economies. We focus on the the energy boom in the United States, the issues facing Europe and the challenges China faces in dealing with a property and credit bubble. We also highlight recent events with regards to the Australian stock market, In particular we discuss recent market fall, which are related to a weakening Australian dollar and the prospect of higher interest rates in the United States.
The document discusses the future of Ireland's economy. It notes that while market-based models have led to economic growth, the recent recession showed weaknesses that require government intervention. For Ireland specifically, the recession resulted in a large national debt and budget deficit as tax revenues fell. The document considers what policies Ireland could adopt to strengthen its economy, create jobs, and deal with issues markets don't address like education, healthcare, renewable energy and infrastructure projects. It questions what the future may hold for Ireland and what steps the country could take.
The Nobel Memorial Prize in Economics Sciences, also known as the Nobel Prize in Economics is the prize in economics sciences awarded by the Royal Swedish Academy of Sciences ,Stockholm, Sweden.
In 1968, Sveringes Riksbank (Sweden’s Central Bank) established the prize in Economics Sciences in Memory of Alfred of Alfred Nobel, founded of the Nobel Prize.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 54 times to 92 laureates between 1969 and 2022.
The document discusses the UK stepping away from negotiations over the European fiscal union. It argues that the UK has historically distanced itself from Europe during times of crisis and that this will benefit the British economy. Specifically, it predicts that the UK will avoid the economic difficulties facing the Eurozone countries and that London may strengthen its position as a financial hub. The document also discusses concerns over tight monetary and fiscal policies in Germany and the Eurozone that could exacerbate the economic crisis, further weakening the euro.
The documentary Inside Job examines the 2008 financial crisis. It analyzes the changes in the financial industry that led to the crisis, including political moves toward deregulation. This allowed large risks to be taken and regulations to be circumvented. The crisis began with rampant lending and investing on Wall Street. Banks financed subprime mortgages and mortgage-backed securities became very profitable. However, the housing prices were inflated in a bubble that eventually burst in 2006-2007 when homeowners began defaulting on loans. Despite signs of growing risks, regulators refused to intervene and the financial system crisis ensued in 2008.
The financial crisis- dominant factors.Ronan Cleary
The 2008 financial crisis was caused by a combination of factors, including loose government policies, reckless banking practices, an overreliance on the construction sector, and external global events. Ireland experienced a property bubble and credit-fueled construction boom from 1998-2006, with house prices quadrupling and construction accounting for 15% of GNP. When the bubble burst in 2008, it devastated the Irish economy and led to a banking crisis, soaring unemployment, and budget deficits. Lax financial regulation and a policy of bailing out the banks at all costs exacerbated the crisis in Ireland.
El señalizador de las señales de la carretera borrachocentrowebs
La persona que tiene que poner las señales en nuestras carreteras debia de tener una pedazo borrachera impresionante para colocar asi las señales, del reves, en estanques, un autentico disparate.
While the narrator's life has changed significantly since college, with increased financial stability and material comforts, they find themselves less happy and feeling lonelier. They reflect on how aspects of their life such as meals, transportation, technology and social circles have upgraded considerably, yet paradoxically they feel a greater sense of distance from things and people that once brought them fulfillment.
La firma digital es una nueva tecnología validada legalmente en Ecuador que reemplaza la firma manuscrita tradicional. El Banco Central del Ecuador emite los certificados de firma digital, que son códigos almacenados en dispositivos USB similares. Aproximadamente 100 usuarios en Ecuador ya usan la firma digital, incluyendo bancos, estudiantes y empresas. La firma digital ofrece seguridad al cifrar documentos y requerir claves de acceso, además de ahorrar tiempo y papel al eliminar trámites físicos.
General Colin Powell provides 18 lessons on leadership based on his experience as Chairman of the Joint Chiefs of Staff. Some of the key lessons include: being responsible means making difficult decisions that will upset some people; leaders must address problems brought to them by their team; don't be swayed by experts or elites and instead focus on results; and attracting the best people is key to accomplishing great things. Powell emphasizes that effective leadership requires making tough choices, focusing on execution over plans, and simplifying solutions so everyone can understand.
Learning Tools for Web 2.0:Integration vs. FrustrationSharonGS
The document discusses the integration and frustration of using Web 2.0 tools for learning. It provides examples of tools like wikis, podcasting, blogging, and VoiceThread that can be integrated into learning. However, teachers and students can become frustrated by the number of tools, reliability issues, public nature of tools, and lack of technical skills. The document recommends strategies like choosing well-known tools, creating a personal learning environment, and using tools to learn about tools to move from frustration to integration.
Este documento presenta un supuesto "test de personalidad del Dalai Lama" que consiste en 4 preguntas con respuestas que revelarán información sobre las prioridades, personalidad y relaciones importantes de la persona. Se insta a quien lo recibe a enviarlo a tantas personas como pueda dentro de las próximas 96 horas para que sus deseos se hagan realidad dependiendo de la cantidad de personas a las que se les envíe.
CreditU provides banking services to credit unions and has a main office and satellite office. They currently have an environment heavily relying on Microsoft software and Dell hardware that is becoming outdated. The document recommends upgrading and modernizing their software, hardware, and disaster recovery processes.
EC4024 Lecture 14: Iceland and Ireland: Fair and Unfair ComparisonsStephen Kinsella
This document compares the economic situations of Iceland and Ireland following the 2008 financial crisis. It discusses how Iceland's lack of prudent regulation and supervision of its privatized banks led to a highly leveraged and unstable financial system. When the crisis hit, all three of Iceland's big banks failed. The document examines the causes and lessons from Iceland's experience, including the role of inflation targeting and speculative finance, and draws parallels to Ireland's experience during the same time period.
1. Ireland's membership in the EU contributed to its 2008 fiscal crisis in several ways. The introduction of the euro in particular led to low interest rates that fueled a property bubble in Ireland through reckless lending by Irish banks. Political mismanagement exacerbated the situation.
2. When the global financial crisis hit in 2008, Ireland was vulnerable because it could no longer independently set interest rates or print money as an eurozone member. To prevent a banking collapse, the Irish government issued an unlimited bank guarantee that ultimately saddled taxpayers with the banks' debts.
3. The EU and ECB response has also hindered Ireland's recovery at times. Bailout terms have been criticized as unfair compared to other countries like
Breaking the "Doom Loop" using the Danish mortgage systemJames Wood
This presentation seeks to outline how the stability of the Danish mortgage system could be implemented in Britain to break the "Doom Loop" that sees the state repeated bail out "too big to fail" banks.
Eton College Forum on the Global Financial Crisistutor2u
The title of this event is ‘No More Business As Usual: How to Avoid Another Financial Crash.’ The 2008 crisis marked a sea-change point.It was a fa ilure on three counts: 1. A failure of oversight from Governments and Central Banks alike, 2. A failure of modeling in not being able to predict the crash and 3. A failure of ideology. Underpinning the crisis was the fundamentally flawed neo-liberal ideologue which has dominated main-stream economic thinking.
The document discusses the causes and effects of Ireland's economic crisis in 2008 as well as the measures taken by the government to address it. The crisis was precipitated by a housing bubble fueled by excessive bank lending. This led to a collapse in tax revenues and rising unemployment. In response, Ireland implemented an EU-IMF program that stabilized the banking sector through recapitalization, pursued fiscal adjustment through spending cuts and tax increases, and has seen a return to growth in recent years. Macroeconomic indicators show the impact of the crisis and subsequent recovery.
This document discusses the 2008 financial crisis and its impact on the UK. It begins by defining a financial crisis and explaining the housing bubble and subprime lending practices in the US that triggered the crisis. It then discusses the effects in the UK, including falling retail sales, rising unemployment, and GDP declining by 1.5% in the fourth quarter of 2008, officially pushing the country into recession. The document also outlines some measures taken by the UK government to stimulate the economy through recapitalizing banks, loan guarantees, and an asset protection scheme.
This document discusses financial fragility in Ireland and corporate governance failures that contributed to the crisis. It defines governance as the exercise of power through policies enacted by self-interested agents. It also lists a history of financial crises from the 1980s to the 2000s. The document recommends reforms like speeding structural change, job creation, nationalizing banks, and fostering less procyclical leveraging to prevent future crises.
A round-up of the current state of the global and Australian economies. We focus on the the energy boom in the United States, the issues facing Europe and the challenges China faces in dealing with a property and credit bubble. We also highlight recent events with regards to the Australian stock market, In particular we discuss recent market fall, which are related to a weakening Australian dollar and the prospect of higher interest rates in the United States.
The document discusses the future of Ireland's economy. It notes that while market-based models have led to economic growth, the recent recession showed weaknesses that require government intervention. For Ireland specifically, the recession resulted in a large national debt and budget deficit as tax revenues fell. The document considers what policies Ireland could adopt to strengthen its economy, create jobs, and deal with issues markets don't address like education, healthcare, renewable energy and infrastructure projects. It questions what the future may hold for Ireland and what steps the country could take.
The Nobel Memorial Prize in Economics Sciences, also known as the Nobel Prize in Economics is the prize in economics sciences awarded by the Royal Swedish Academy of Sciences ,Stockholm, Sweden.
In 1968, Sveringes Riksbank (Sweden’s Central Bank) established the prize in Economics Sciences in Memory of Alfred of Alfred Nobel, founded of the Nobel Prize.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 54 times to 92 laureates between 1969 and 2022.
The document discusses the UK stepping away from negotiations over the European fiscal union. It argues that the UK has historically distanced itself from Europe during times of crisis and that this will benefit the British economy. Specifically, it predicts that the UK will avoid the economic difficulties facing the Eurozone countries and that London may strengthen its position as a financial hub. The document also discusses concerns over tight monetary and fiscal policies in Germany and the Eurozone that could exacerbate the economic crisis, further weakening the euro.
The documentary Inside Job examines the 2008 financial crisis. It analyzes the changes in the financial industry that led to the crisis, including political moves toward deregulation. This allowed large risks to be taken and regulations to be circumvented. The crisis began with rampant lending and investing on Wall Street. Banks financed subprime mortgages and mortgage-backed securities became very profitable. However, the housing prices were inflated in a bubble that eventually burst in 2006-2007 when homeowners began defaulting on loans. Despite signs of growing risks, regulators refused to intervene and the financial system crisis ensued in 2008.
The financial crisis- dominant factors.Ronan Cleary
The 2008 financial crisis was caused by a combination of factors, including loose government policies, reckless banking practices, an overreliance on the construction sector, and external global events. Ireland experienced a property bubble and credit-fueled construction boom from 1998-2006, with house prices quadrupling and construction accounting for 15% of GNP. When the bubble burst in 2008, it devastated the Irish economy and led to a banking crisis, soaring unemployment, and budget deficits. Lax financial regulation and a policy of bailing out the banks at all costs exacerbated the crisis in Ireland.
2008 World Economic crisis, Global Meltdown, Global Financial CrisisJagmeet Singh Bajaj
The 2008 financial crisis was caused by a combination of factors: rising housing prices, risky lending practices, and overreliance on complex financial instruments. When the housing bubble burst, it exposed vulnerabilities throughout the financial system. Major investment banks collapsed and governments had to bail out firms like AIG, Fannie Mae and Freddie Mac. The crisis led to a global economic downturn, trillions in wealth destruction, and high unemployment in many countries. Governments addressed the crisis through stimulus spending, bank bailouts, and new financial regulations aimed at preventing future crises.
The document discusses the collapse of the Western Antarctic Ice Sheet and lessons this holds for economic modeling. It notes that the ice sheet collapse is now irreversible and will lead to over 1 meter of sea level rise in the short term and much greater rises long term. While increased CO2 emissions and temperatures have contributed, the causal mechanisms are more indirect, involving stronger winds pushing warmer waters and increased effects from the ozone hole. This demonstrates the difficulty of controlling complex, adaptive systems and how unintended consequences can arise. The document argues that economic modeling would benefit from considering systems-level emergent behaviors rather than assuming rational representative agents and comparing standard optimization models to a complexity approach. It questions the overconfidence some economists placed in models prior to
The document discusses the banking environment in Scandinavia and the role of banks. It notes that while the Nordic economies have stabilized since the financial crisis, challenges remain like unemployment and low interest rates. Banks play an important role in people's daily lives and the national economies, but must balance the needs of different stakeholders - customers who remain wary of banks, regulators focused on stability, and shareholders seeking profits. The document considers opportunities for banks like cryptocurrencies which some see as threatening but others see as offering opportunities.
This document outlines the key topics that will be covered in a lecture on recent macroeconomic trends in the British economy. It discusses the causes and consequences of the global financial crisis that began in 2007, including the housing bubble, subprime lending crisis, and contagion effects. It then examines the UK policy response to the recession, including quantitative easing, fiscal stimulus measures, and bank bailouts. Finally, it considers debates around failures of macroeconomic models to predict the crisis and the path to economic recovery.
Deepwater Horizon Oil Spill: A Study of Behavioural Decision MakingJerome Dauvergne
This report analyses the genesis of the Deepwater Horizon disaster from a behavioural decision making perspective. In order to write this original paper I borrowed from the investigative work of the environmental journalist Abrahm Lustgarten, and from concepts developed by behavioural finance and emotional finance academics such as the Canadian Hersh Shefrin, the American John Nofsinger, and the Britons Richard Taffler and David Tuckett.
I hope you'll enjoy the read!
This document discusses the outlook for private household financial assets in different regions and scenarios. It provides an overview of historical development of financial assets internationally from 1996-2008. Household financial assets significantly declined in 2008 globally due to stock market and housing crashes. The document then outlines four potential scenarios for financial asset growth through 2020: a basic scenario assuming gradual economic recovery; an "additional savings" scenario with higher savings rates; a pessimistic scenario with continued recession; and a positive scenario with strong growth.
This document discusses the UK's policy response to the recent recession, which included reducing interest rates and quantitative easing. It also discusses international regulations like Basel III that increased capital ratio requirements for banks. The UK saw smaller employment declines than GDP declines during the recession due to wage moderation and employer financial stability. Ongoing issues discussed include the Eurozone debt crisis, financial sector regulation, and the road to economic recovery.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Brendan Walsh 27-02-09
1. Designing a Strategy for Recovery
Economics Seminars
Graduate Centre of Business
Kemmy Business School
University of Limerick
Ireland
Friday , February 27th, 2‐3pm
3. Outline
• The International Financial and
Economic Crisis
• The Irish Case
• What is the Way Forward?
My presentation is journalistic rather than
scholarly!
7. Contrite central bankers
“Shocked disbelief”
Former Federal Reserve Chairman Alan
Greenspan testifies during a House Oversight
and Government Reform Committee hearing
on Capitol Hill October 23, 2008, in
Washington, DC.
10. “I think the stability of monetary aggregates and
nominal spending in the post‐war United States
is a major reason for the stability of aggregate
production and consumption during these years,
relative to the experience of the interwar period
and the contemporary experience of other
economies. If so, this stability must be seen in
part as an achievement of the economists,
Keynesian and monetarist, who guided
economic policy over these years.”
Robert Lucas, Nobel prize winner in economics
1995
11. “The question I have addressed in this lecture is
whether stabilization policies that go beyond
the general stabilization of spending that
characterizes the last 50 years, whatever form
they might take, promise important increases in
welfare. The answer to this question is No: The
potential gains from improved stabilization
policies are on the order of hundredths of a
percent of consumption, perhaps two orders of
magnitude smaller than the potential benefits
of available “supply‐side” fiscal reforms..”
Lucas, Presidential address to American
Economic Association, January 2003
13. The financial industry – which attracts the
bright, if not necessarily the best,
through its extravagant reward
structure ‐ responded enthusiastically
and developed numerous dazzling new
products that made it impossible – until
it was too late – to measure and locate
the risks to which it was exposed
15. The expansion of credit allowed consumer in the US
and some European countries to finance an
amazing , seemingly endless consumption and
housing boom/bubble
Ben Bernanke argued that the global saving surplus
was finding a natural home
Despite some forebodings, the system was believed
to be stable
16. According to a leading international economics
textbook published in 2006 major banking
crises belonged in the history books
“Today, bank runs are not a major problem for
the banking systems of advanced economies.”
Students would only see them depicted in films
like Mary Poppins and It’s a Wonderful Life
25. While the economy went into recession briefly
in 2002, rapid growth quickly resumed
fuelled by
The ECB’s easing of monetary policy and
The inflow of labour from the New Accession
States
28. The Centre for the Study of Small States,
The Source of Wealth in Small States
University of Reykjavik, Iceland
Small States as Financial Centres
Ireland as a Case Study
Brendan Walsh
University College Dublin
14th September 2007
http://bobbiblogger.files.wordpress.com/20
08/11/iceland-11.jpg
29. Fallout from US sub‐prime mortgage market
• On 15th August 2007 Sachsen LB Europe plc
confirmed that its Dublin subsidiary in Dublin,
the Ormond Quay conduit, had to be rescued by
a loan of €17.3 billion.
• This episode highlights the need to have a single
financial regulator across the Eurozone and drew
some unwelcome attention to the nature of
some of the firms in Irish International Financial
Services Industry.
29
46. “The central expectation, based on an
assessment of the risks facing both the
household and non‐financial corporate
sectors, the health of the banking sector and
the results of recent in‐house stress testing is
that, notwithstanding the international
financial market turbulence, the Irish banking
system continues to be well placed to
withstand adverse economic and sectoral
developments in the short to medium term.”
CBFSAI, Financial Stability Report 2007
47. “But risk management models have during
this crisis proved themselves wrong in a
more fundamental sense. They failed
Keynes’ test – that it is better to be roughly
right than precisely wrong. With hindsight,
these models were both very precise and
very wrong. . . . Stress-testing was not
being meaningfully used to manage risk.
Rather, it was being used to manage
regulation. Stress-testing was not so much
regulatory arbitrage as regulatory
camouflage. ”
Andrew Haldene, Bank of Eng, February 2009
49. Index
Fe
b-
75.00
80.00
85.00
90.00
95.00
100.00
105.00
110.00
115.00
7
Fe 5
b-
7
Fe 6
b-
7
Fe 7
b-
7
Fe 8
Sterling Link
b-
7
Fe 9
b-
8
Fe 0
b-
8
Fe 1
b-
8
Fe 2
b-
8
Fe 3
b-
8
Fe 4
b-
8
Fe 5
b-
8
Fe 6
b-
8
Fe 7
EMS Period
b-
8
Fe 8
b-
8
Fe 9
b-
9
Fe 0
b-
9
Fe 1
b-
9
Fe 2
b-
9
Ireland 1975-2009
Fe 3
b-
9
Fe 4
b-
9
Real Effective Exchange Rate
Fe 5
b-
9
Fe 6
b-
9
Floating Period
Fe 7
b-
9
Fe 8
b-
9
Fe 9
b-
0
Fe 0
b-
0
Fe 1
b-
0
Fe 2
b-
0
Fe 3
b-
0
Fe 4
EMU Period
b-
0
Fe 5
b-
0
Fe 6
b-
07
56. Eurozone 10 year Government bond
spreads over Germany (in bps)
300
250
200
150
100
50
0
Germany France Belgium Italy Spain Portugal Austria Ireland Greece
NL
57. What is to be done?
I tell you naught for your comfort
Yea, naught for your desire
Save that the sky grows darker yet
And the sea rises higher.
G. K. Chesterton, 1911
61. are all Swedes Now”. So said oft-quoted finance
“We
professor Nouriel Roubini last week, calling for large-scale
nationalisation of the US banking system. With agreement
on that point even from thinkers on the right of the political
spectrum, Roubini’s Swedish comparison is looking less
exaggerated by the day.
Alan Greenspan stunned many when he said this week it
might be necessary to “temporarily nationalise some
banks” to engineer a “swift and orderly restructuring” of
the broken sector. “Once in a hundred years this is what
you do.”
62. Elements of the solution
• Overcome the denial of the extent of the
losses arising from the reckless lending of the
past few years and clearing the way for an
adequate recapitalisation of the main banks
• Restore international confidence in our
banking supervisory and regulatory system
63. Fixing the banks
• Overcome the denial of the extent of
the losses arising from the reckless
lending of the past few years
• Should the toxic assets be “marked to
market” even when no market for them
exists?
• Should they be hived off into a “bad
bank” or asset management company?
64. “Even as the solutions to the financial
crisis are debated in Congress and among
economists, the F.D.I.C., one of the
agencies that deals most closely with the
nation’s banks, has already been
transformed.
The rising tide of foreclosed real estate is
so overwhelming that the agency, which
had shrunk to a relatively tiny 4,800
employees from as many as 15,000 in the
last period of bank meltdowns in the
1990s, is in the midst of a military-scale
build-up as it undertakes one of the
greatest fire sales of all time. “
New York Times, 13 February 2009
65. blitz by the F.D.I.C. may offer
“The
lessons for the Treasury
Department, which is separately
struggling with an even more
monumental challenge: how to
help still-operating banks move
giant loads of toxic debt off their
balance sheets, in the hope that
the banks will begin taking risks
again and stimulate the economy.”
66. Restoring balance to the public
finances
• The collapse of tax revenue has been so
dramatic that here is no alternative to a
major downsizing of the public sector
• The burden of taxation will also have to rise,
but in a way that minimises disincentives
– taxing the stock of real property will have to be
part of this
70. Restoring competitiveness
• Rebuilding international confidence in
Ireland as a suitable place in which to do
business
• Cementing our commitment to the single
currency
– Sorting out our hang‐ups over Lisbon
• Boosting the productivity of our labour force
and the contribution of our educational
system to our children’s economic prospects