Description : We revisit the dramatic failure of monetary models in explaining exchange rate movements. Using the information content from 98 countries, we find strong evidence for cointegration between nominal exchange rates and monetary fundamentals. We also find fundamentalsbased models very successful in beating a random walk in out-of-sample prediction.
Description : The paper finds that exchange rate flexibility in emerging market countries has increased over the past decade. This "learning to float" appears to have involved a strengthening of monetary and financial policy frameworks aimed at directly addressing the key vulnerabilities that give rise to the "fear of floating." The results in the paper suggest that the trend toward greater exchange rate flexibility, alongside a strengthening of banking supervision, has afforded emerging market countries more monetary policy independence.
Description : The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Description : “John Gattorna is one of the most original thinkers in the fast-changing arena of supply chain management. He has pioneered the idea of dynamic alignmentwhich is so powerfully presented in this ground-breaking book.” Martin Christopher, Professor of Marketing & Logistics, Cranfield School of Management Supply chains are at the heart of competitive advantage in business today. If supply chains are managed successfully, companies will be able to deliver their products and services to customers in a smart, cost-effective way. The key to successful supply chain management is recognising that it’s people who really drive the living supply chains that are at the heart of businesses. Supply chains are powered by the energy and expertise of employees and suppliers and by the changing wants and needs of customers. John Gattorna calls this principle of matching changing customer needs and desires with different supply chain strategies dynamic alignment. To secure space in a new market, to grow or keep existing markets companies have to get their products out there faster. They need to be the first with new products and services and the first to match them with particular customer groups. The dynamic alignment model gives a structured way of linking customer expectations to the operational side of business while maintaining the flexibility to systematically modify fulfilment processes as customers inevitably change their buying preferences.
Description : A mind-bending novel in which an alternate history of 9/11 and its aftermath uncovers startling truths about America and the Middle East 11/9/2001: Christian fundamentalists hijack four jetliners. They fly two into the Tigris & Euphrates World Trade Towers in Baghdad, and a third into the Arab Defense Ministry in Riyadh. The fourth plane, believed to be bound for Mecca, is brought down by its passengers. The United Arab States declares a War on Terror. Arabian and Persian troops invade the Eastern Seaboard and establish a Green Zone in Washington, D.C. . . . Summer, 2009: Arab Homeland Security agent Mustafa al Baghdadi interrogates a captured suicide bomber. The prisoner claims that the world they are living in is a mirage—in the real world, America is a superpower, and the Arab states are just a collection of "backward third-world countries." A search of the bomber's apartment turns up a copy of The New York Times, dated September 12, 2001, that appears to support his claim. Other captured terrorists have been telling the same story. The president wants answers, but Mustafa soon discovers he's not the only interested party. The gangster Saddam Hussein is conducting his own investigation. And the head of the Senate Intelligence Committee—a war hero named Osama bin Laden—will stop at nothing to hide the truth. As Mustafa and his colleagues venture deeper into the unsettling world of terrorism, politics, and espionage, they are confronted with questions without any rational answers, and the terrifying possibility that their world is not what it seems. Acclaimed novelist Matt Ruff has created a shadow world that is eerily recognizable but, at the same time, almost unimaginable. Gripping, subversive, and unexpectedly moving, The Mirage probes our deepest convictions and most arresting fears.
Description : This issue discusses the diagnosis and treatment of major depressive disorder (MDD) and other depressive disorders, with an emphasis on the psychosocial aspects of depression: how it affects societies, how it is affected by culture, and what the true meaning of recovery is for those suffering from MDD. The issue is divided into three section: Etiology, Diagnosis and Treatment. Authors address the evidence where biology and subjectivity meet. They discuss what is adaptive and what is pathologic and discuss population-based solutions that take into account the specificity of the individual. Authors also take into account combination treatments of psychotherapy and pharmacotherapy and weigh the treatment choices against specific patient subtypes.
Description : Have you ever been to a strip club and noticed that some guys seem to get all the attention from the strippers? If you're like most men, you probably assume that these guys are spending a lot of money, offering illicit drugs, or are some kind of "alpha males" that you either can't or don't want to compete with. What if I told you that this was an illusion... a MIRAGE to help separate you from your money? Nothing in a strip club is as it appears... don't be fooled! Sure, there will always be the guy who throws money around strip clubs and dominates the strippers' time (after all, it's their job to take their money), but do you think these guys are actually going home with them and having any kind of sexual relations with them? Hell no, they aren't! If you think all it takes is deep pockets and good looks to attract strippers then prepare to have your mind blown...