Liquidity traps, capital flows

This paper explores the role of capital flows and exchange rate dynamics in shaping the global economy's adjustment in a liquidity trap. Using a multi-country model with nominal rigidities, we shed light on the global adjustment since the Great Recession, a period where many advanced economies were pushed to the zero bound on interest rates. We establish three main results: (i) When the North hits the zero bound, downstream capital flows alleviate the recession by reallocating demand to the South and switching expenditure toward North goods. (ii) A free capital flow regime falls short of supporting efficient demand and expenditure reallocations and induces too little downstream (upstream) flows during (after) the liquidity trap. (iii) When it comes to capital flow management, individual countries' incentives to manage their terms of trade conflict with aggregate demand stabilization and global efficiency. This underscores the importance of international policy coordination in liquidity trap episodes.

Bodies, stories, cities : learning to read and write (in) Montréal with Gail Scott

Cette lecture, tant critique, comparative, et théorique que pédagogique, s’ancre dans le constat, premièrement, qu’il advient aux étudiantEs en littérature de se (re)poser la question des coûts et complicités qu’apprendre à lire et à écrire présuppose aujourd’hui; deuxièmement, que nos pratiques littéraires se trament au sein de lieux empreints de différences, que l’on peut nommer, selon le contexte, métaphore, récit, ville; et, troisièmement, que les efforts et investissements requis sont tout autant couteux et interminable qu’un plaisir et une nécessité politique. Ces conclusions tendent vers l’abstrait et le théorique, mais le langage en lequel elles sont articulées, langage corporel et urbain, de la dépendance et de la violence, cherche d’autant plus une qualité matérielle et concrète. Or, l’introduction propose un survol des lectures et comparaisons de Heroine de Gail Scott qui centre ce projet; identifie les contextes institutionnels, historiques, et personnels qui risquent, ensuite, de décentrer celui-ci. Le premier chapitre permet de cerner le matérialisme littéraire qui me sert de méthode par laquelle la littérature, à la fois, sollicite et offre une réponse à ces interrogations théoriques. Inspirée de l’œuvre de Gail Scott et Réjean Ducharme, premièrement, et de Walter Benjamin, Elisabeth Grosz, et Pierre Macherey ensuite, ‘matérialisme’ fait référence à cette collection de figures de pratiques littéraires et urbaines qui proviennent, par exemple, de Georges Perec, Michel DeCerteau, Barbara Johnson, et Patricia Smart, et qui invitent ensuite une réflexions sur les relations entre corporalité et narrativité, entre la nécessité et la contingence du littéraire. De plus, une collection de figures d’un Montréal littéraire et d’une cité pédagogique, acquis des œuvres de Zygmunt Bauman, Partricia Godbout, et Lewis Mumford, constitue en effet un vocabulaire nous permettant de mieux découvrir (et donc enseigner) ce que lire et apprendre requiert. Le deuxième chapitre propose une lecture comparée de Heroine et des romans des auteures québécoises Anne Dandurand, Marie Gagnon, et Tess Fragoulis, dans le contexte, premièrement, les débats entourant l’institutionnalisation de la littérature (anglo)Québécoise et, deuxièmement, des questions pédagogiques et politiques plus larges et plus urgentes que nous pose, encore aujourd’hui, cette violence récurrente qui s’acharna, par exemple, sur la Polytechnique en 1989. Or, cette intersection de la violence meurtrière, la pratique littéraire, et la pédagogie qui en résulte se pose et s’articule, encore, par le biais d’une collection de figures de styles. En fait, à travers le roman de Scott et de l’œuvre critique qui en fait la lecture, une série de craques invite à reconnaître Heroine comme étant, ce que j’appelle, un récit de dépendance, au sein duquel se concrétise une temporalité récursive et une logique d’introjection nous permettant de mieux comprendre la violence et, par conséquent, le pouvoir d’une pratique littéraire sur laquelle, ensuite, j’appuie ma pédagogie en devenir. Jetant, finalement, un regard rétrospectif sur l’oeuvre dans son entier, la conclusion de ce projet se tourne aussi vers l’avant, c’est-à-dire, vers ce que mes lectures dites matérialistes de la littérature canadienne et québécoise contribuent à mon enseignement de la langue anglaise en Corée du Sud. C’est dans ce contexte que les propos de Jacques Rancière occasionnent un dernier questionnement quant à l’historique des débats et des structures pédagogiques en Corée, d’une part, et, de l’autre, les conclusions que cette lecture de la fiction théorique de Gail Scott nous livre.

Capital expenditure decision in private and public sector entreprises in India A comparative evaluation

This study is focussed on public and private sector The study is confined to industrial Public companies in the states of Kerala and Orissa along with companies in India. undertakings only. sector and private sector private sector companies in other states were studied. Even though the original plan of 190 companies as the sample size could not be accomplished, as the responses were very poor, but data could be collected frmn 6 public and 5 private sector companies in Kerala, 8 public and 8 private sector companies in Orissa along with 27 private sector companies in other states totalling to 54 companies. The number of years of data collected varies from 2 years to 6 years. Factors which are affecting capital expenditures and hence leading to the performance of private sector compared to public sector companies are studied. After the study and analysis, comparisons are made between public sector and private sector, and suitable recomendations are made so that public sector industries can also perform equally well as the private sector industries in India.

Study of Capital Structure in Major Industrial Concerns in Kerala

To make an analytical description of the considerations for the capital structure decision and to explain the patterns of capital structure prevailing in the state, private and central sector manufacturing concerns in Kerala. To evaluate the capital structure highlighting the effect of financial leverage in an EBIT-EPS tangle. To find out the effect of capital structure on the returns and liquidity and solvency of the firms.

Agricultural practices and horizontal nutrient balances in urban gardens and the alternative use of urban agricultural land in Khartoum, Sudan

The surge in the urban population evident in most developing countries is a worldwide phenomenon, and often the result of drought, conflicts, poverty and the lack of education opportunities. In parallel with the growth of the cities is the growing need for food which leads to the burgeoning expansion of urban and peri-urban agriculture (UPA). In this context, urban agriculture (UA) contributes significantly to supplying local markets with both vegetable and animal produce. As an income generating activity, UA also contributes to the livelihoods of poor urban dwellers. In order to evaluate the nutrient status of urban soils in relation to garden management, this study assessed nutrient fluxes (inputs and outputs) in gardens on urban Gerif soils on the banks of the River Nile in Khartoum, the capital city of Sudan. To achieve this objective, a preliminary baseline survey was carried out to describe the structure of the existing garden systems. In cooperation with the author of another PhD thesis (Ms. Ishtiag Abdalla), alternative uses of cow dung in brick making kilns in urban Khartoum were assessed; and the socio-economic criteria of the brick kiln owners or agents, economical and plant nutritional value of animal dung and the gaseous emission related to brick making activities were assessed. A total of 40 household heads were interviewed using a semi-structured questionnaire to collect information on demographic, socio-economic and migratory characteristics of the household members, the gardening systems used and the problems encountered in urban gardening. Based on the results of this survey, gardens were divided into three groups: mixed vegetable-fodder gardens, mixed vegetable-subsistence livestock gardens and pure vegetable gardens. The results revealed that UA is the exclusive domain of men, 80% of them non-native to Khartoum. The harvested produce in all gardens was market oriented and represented the main source of income for 83% of the gardeners. Fast growing leafy vegetables such as Jew’s mallow (Corchorous olitorius L.), purslane (Portulaca oleracea L.) and rocket (Eruca sativa Mill.) were the dominant cultivated species. Most of the gardens (95%) were continuously cultivated throughout the year without any fallow period, unless they were flooded. Gardeners were not generally aware of the importance of crop diversity, which may help them overcome the strongly fluctuating market prices for their produce and thereby strengthen the contributions of UA to the overall productivity of the city. To measure nutrient fluxes, four gardens were selected and their nutrients inputs and outputs flows were monitored. In each garden, all plots were monitored for quantification of nutrient inputs and outputs. To determine soil chemical fertility parameters in each of the studied gardens, soil samples were taken from three selected plots at the beginning of the study in October 2007 (gardens L1, L2 and H1) and in April 2008 (garden H2) and at the end of the study period in March 2010. Additional soil sampling occurred in May 2009 to assess changes in the soil nutrient status after the River Nile flood of 2008 had receded. Samples of rain and irrigation water (river and well-water) were analyzed for nitrogen (N), phosphorus (P), potassium (K) and carbon (C) content to determine their nutrient inputs. Catchment traps were installed to quantify the sediment yield from the River Nile flood. To quantify the nutrient inputs of sediments, samples were analyzed for N, P, K and organic carbon (Corg) content, cation exchange capacity (CEC) and the particle size distribution. The total nutrient inputs were calculated by multiplying the sediment nutrient content by total sediment deposits on individual gardens. Nutrient output in the form of harvested yield was quantified at harvest of each crop. Plant samples from each field were dried, and analyzed for their N, P, K and Corg content. Cumulative leaching losses of mineral N and P were estimated in a single plot in garden L1 from December 1st 2008 to July 1st 2009 using 12 ion exchange resins cartridges. Nutrients were extracted and analyzed for nitrate (NO3--N), ammonium (NH4+-N) and phosphate PO4-3-P. Changes in soil nutrient balance were assessed as inputs minus outputs. The results showed that across gardens, soil N and P concentrations increased from 2007 to 2009, while particle size distribution remained unchanged. Sediment loads and their respective contents of N, P and Corg decreased significantly (P < 0.05) from the gardens of the downstream lowlands (L1 and L2) to the gardens of the upstream highlands (H1 and H2). No significant difference was found in K deposits. None of the gardens received organic fertilizers and the only mineral fertilizer applied was urea (46-0-0). This equaled 29, 30, 54, and 67% of total N inputs to gardens L1, L2, H1, and H2, respectively. Sediment deposits of the River Nile floods contributed on average 67, 94, 6 and 42% to the total N, P, K and C inputs in lowland gardens and 33, 86, 4 and 37% of total N, P, K and C inputs in highland gardens. Irrigation water and rainfall contributed substantially to K inputs representing 96, 92, 94 and 96% of total K influxes in garden L1, L2, H1 and H2, respectively. Following the same order, total annual DM yields in the gardens were 26, 18, 16 and 1.8 t ha-1. Annual leaching losses were estimated to be 0.02 kg NH4+-N ha-1 (SE = 0.004), 0.03 kg NO3--N ha-1 (SE = 0.002) and 0.005 kg PO4-3-P ha-1 (SE = 0.0007). Differences between nutrient inputs and outputs indicated negative nutrient balances for P and K and positive balances of N and C for all gardens. The negative balances in P and K call for adoptions of new agricultural techniques such as regular manure additions or mulching which may enhance the soil organic matter status. A quantification of fluxes not measured in our study such as N2-fixation, dry deposition and gaseous emissions of C and N would be necessary to comprehensively assess the sustainability of these intensive gardening systems. The second part of the survey dealt with the brick making kilns. A total of 50 brick kiln owners/or agents were interviewed from July to August 2009, using a semi-structured questionnaire. The data collected included general information such as age, family size, education, land ownership, number of kilns managed and/or owned, number of months that kilns were in operation, quantity of inputs (cow dung and fuel wood) used, prices of inputs and products across the production season. Information related to the share value of the land on which the kilns were built and annual income for urban farmers and annual returns from dung for the animal raisers was also collected. Using descriptive statistics, budget calculation and Gini coefficient, the results indicated that renting the land to brick making kilns yields a 5-fold higher return than the rent for agriculture. Gini coefficient showed that the kiln owners had a more equal income distribution compared to farmers. To estimate emission of greenhouse gases (GHGs) and losses of N, P, K, Corg and DM from cow dung when used in brick making, samples of cow dung (loose and compacted) were collected from different kilns and analyzed for their N, P, K and Corg content. The procedure modified by the Intergovernmental Panel on Climate Change (IPCC, 1994) was used to estimate the gaseous emissions of cow dung and fuel wood. The amount of deforested wood was estimated according to the default values for wood density given by Dixon et al. (1991) and the expansion ratio for branches and small trees given by Brown et al. (1989). The data showed the monetary value of added N and P from cow dung was lower than for mineral fertilizers. Annual consumption of compacted dung (381 t DM) as biomass fuel by far exceeded the consumption of fuel wood (36 t DM). Gaseous emissions from cow dung and fuel wood were dominated by CO2, CO and CH4. Considering that Gerif land in urban Khartoum supports a multifunctional land use system, efficient use of natural resources (forest, dung, land and water) will enhance the sustainability of the UA and brick making activities. Adoption of new kilns with higher energy efficiency will reduce the amount of biomass fuels (cow dung and wood) used the amount of GHGs emitted and the threat to the few remaining forests.

Rural households’ social capital and welfare: A case study of Msinga, KwaZulu-Natal, South Africa

In a household or nations production system, social capital has been recognized as an input having major implications for project design as well as policy development. Using a structured questionnaire, household level data was obtained from a representative sample of 300 rural households in Msinga, KwaZulu-Natal. This study employed the conventional household economic behaviour model under constrained utility maximisation to examine the effect of social capital on the welfare of household, testing the hypothesis that the possession of social capital improves household welfare. The result shows that social capital endowments have a statistically significant positive effect on household welfare, in addition to the some household’s demographic and socio-economic characteristics. The study concluded that, access to social capital among other factors, is very crucial for improved rural household welfare and poverty reduction. It is therefore important for government to have knowledge of existing social groups and networks as this will improve the effectiveness of the present strategies aimed at reducing poverty.

Innovation, Creativity, and Positive Psychological Capital: Examining the Relationships in Adolescents, Employees and Entrepreneurs

Innovation ist für das Überleben von Firmen und die Entwicklung von Ländern wesentlich, weil sie entscheidend für einen erhöhten Marktanteil und wettbewerbsfähigen Vorsprung ist (Baer & Frese, 2003; Dodgson, Gann & Salter; George & Zhou, 2011; Kleysen & Street, 2001). Gleichzeitig steht Innovation in engem Zusammenhang mit Erkenntnisfortschritten (West & Altink, 1996). Konzepte, die mit Innovation zu tun haben, beinhalten innovatives Verhalten und Kreativität. Kreativität ist die Produktion von neuen und nützlichen Ideen (Amabile, 1998), und Innovation ist die Umsetzung dieser neuen und nützlichen Ideen (Amabile, 1998; West, 2002). Diese Dissertation besteht aus fünf Abhandlungen, die sich mit den beiden Bereichen des Managements und der positiven Psychologie beschäftigen. Im Einzelnen verbindet die Dissertation Forschungen aus dem Bereich der positiven Psychologie mit Forschungen der Innovation, wie auch der pädagogischen Psychologie, um Antworten auf Forschungsfragen zu finden, die sich damit beschäftigen, was es ist, das die Kreativität von Mitarbeitern, Unternehmern und Jugendlichen und ihr positives psychologisches Kapital steigert (PsyCap). Luthans und seine Kollegen (2007, S.3) definieren das psychologische Kapital oder PsyCap als „den positiven psychologischen Entwicklungszustand einer Einzelperson, welcher wie folgt beschrieben wird: (1) Selbstvertrauen haben (Selbstwirksamkeit), um sich Herausforderungen zu stellen und den notwendigen Aufwand aufzubringen; (2) Eine positive Attribution (Optimismus) in Bezug auf gegenwärtigen und zukünftigen Erfolg; (3) Ziele anstreben und, wenn notwendig, die Wege zu den Zielen ändern, um Erfolg zu erreichen (Hoffnung); (4) Im Falle von Problemen und Missgeschicken standhalten und wieder zurückkommen (Widerstandsfähigkeit), um Erfolg zu erreichen.“

Planning Urban Food Production into Today's Cities

If cities are to become more sustainable and resilient to change it is likely that they will have to engage with food at increasingly localised levels, in order to reduce their dependency on global systems. With 87 percent of people in developed regions estimated to be living in cities by 2050 it can be assumed that the majority of this localised production will occur in and around cities. As part of a 12 month engagement, Queen’s University Belfast designed and implemented an elevated aquaponic food system spanning the top internal floor and exterior roof space of a disused mill in Manchester, England. The experimental aquaponic system was developed to explore the possibilities and difficulties associated with integrating food production with existing buildings. This paper utilises empirical research regarding crop growth from the elevated aquaponic system and extrapolates the findings across a whole city. The resulting research enables the agricultural productive capacity of today’s cities to be estimated and a framework of implementation to be proposed.

Reinventing the academic conference: how delegates design productive cities

During the 6th International Sustainable Food Planning Conference, the so-called Design LABs partly replaced the regular parallel sessions. The reason for this change was twofold. On the one hand it aims to break through an endless series of parallel presentations, and on the other hand the LAB’s aim was to produce innovative design solutions for increasing the amount of food production in the city. This article describes this experiment to enhance the delivery of urban design concepts, which could substantially produce more food than current models. During the conference each of the parallel sessions half of the time consisted of a design-LAB, in which participants were brought together around a map with the task to design a substantial amount of food productive spaces in the case study site. The results of this experiment were dual: 1. a very committed attitude of delegates to this part of the conference and 2. the design tasks resulted in innovative design results. These results not only emphasise the potential design measures onsite but also pledged for a strong and more intensive connectivity with the city and the landscape around it. This makes it possible to link the supply and use of resources with the typology of the region, hence determining an effective and productive urban agriculture system.

A compositional statistical analysis of capital stock

Most of economic literature has presented its analysis under the assumption of homogeneous capital stock. However, capital composition differs across countries. What has been the pattern of capital composition associated with World economies? We make an exploratory statistical analysis based on compositional data transformed by Aitchinson logratio transformations and we use tools for visualizing and measuring statistical estimators of association among the components. The goal is to detect distinctive patterns in the composition. As initial findings could be cited that: 1. Sectorial components behaved in a correlated way, building industries on one side and , in a less clear view, equipment industries on the other. 2. Full sample estimation shows a negative correlation between durable goods component and other buildings component and between transportation and building industries components. 3. Countries with zeros in some components are mainly low income countries at the bottom of the income category and behaved in a extreme way distorting main results observed in the full sample. 4. After removing these extreme cases, conclusions seem not very sensitive to the presence of another isolated cases

La dislexia y sus consecuencias didácticas en niños de 6 a 8 años : un estudio de la población de Huelva capital.

Determinar si algunas alteraciones en lecto-escritura que se presentan en niños de 6 a 8 años de edad cronológica están vinculadas a algún tipo de articulación verbal, modificación del ritmo articulatorio o dificultad en la emisión correcta de la voz. 222 alumnos entre 6 y 8 años. Exploración de toda la muestra a nivel de inteligencia general, para a continuación realizar una selección de casos y proceder a un estudio pormenorizado de cada uno de ellos. Test de Raven de matrices progresivas -escala en color-; test de análisis de lecto-escritura; escala Mccarty de aptitudes y psicomotricidad; test guestáltico visomotor para niños. Técnicas estadísticas. La procedencia o extracción social del niño marca de alguna manera los aprendizajes lecto-gráficos. Es necesario y urgente comenzar cuanto antes una preparación motriz temprana para favorecer el ritmo de las reacciones motoras y mentales del niño, compensando así las posibles deficiencias gnósico-práxicas que presente. El estudio de los prerrequisitos para el aprendizaje lecto-gráfico se debe insertar en el contexto socio-cultural donde se produzca tal aprendizaje y con unas condiciones psicopedagógicas favorables.

Determinación de objetivos básicos de un programa de orientación escolar para alumnos de clase trabajadora, en colegios nacionales de Sevilla capital : octavo de EGB.

Establecer qué objetivos deberían formar parte de un programa de orientación destinado a una población escolar específica y cómo llegar a su determinación. Alumnos de octavo de EGB pertenecientes a la clase trabajadora de Sevilla capital. El esquema conceptual que vertebra la investigación ha seguido el siguiente proceso: 1) Determinación de las necesidades de la Comunidad educativa; 2) Obtención de las metas o fines de la tarea orientadora a partir de las necesidades expresas y 3) Elaboración de los objetivos operativo-conductuales del programa de orientación. Cuestionario, entrevista. Técnicas estadísticas. Elaboración de un esquema conceptual nuevo para vertebrar la práctica orientadora en el contexto educativo actual. Las aportaciones de esta investigación han sido: utilización y adaptación del método Kaufman sobre planificación de Sistemas Educativos, a la planificación de la investigación en su conjunto en el campo de la Orientación. La identificación de las necesidades sentidas por los miembros de la Comunidad educativa como punto de partida para la determinación de objetivos y actividades orientadoras a incluir en los programas de ayuda y asesoramiento en los centros. La redacción de metas y objetivos conductuales específicos en estrecho contacto con el colectivo de profesores y con los centros.