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c_z0zhzb7zbeqi
Bard Early College New Orleans Bard Early College at the Harlem Children's Zone Bard Early College Hudson
Bard High School Early College
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In 2009, President Barack Obama singled out BHSEC as the model for the future in his Centennial Speech to the NAACP: We also have to explore innovative approaches such as those being pursued here in New York City; innovations like Bard High School Early College and Medgar Evers College Preparatory School that are chall...
Bard High School Early College
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A newspaper bag or newspaper sleeve is a lightweight bag or sleeve used to wrap newspapers to protect them from the elements. These bags are primarily made of polyethylene, although some distributors have moved to using biodegradable bags. These bags may be clear to display the newspaper inside, but are ordinarily impr...
Newspaper bag
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Newspaper publishers may use bags as part of their standard preparation for delivery, or only during expected inclement weather. When used intermittently, paperboys would roll the papers and insert them in the plastic sleeves as part of their daily preparations. == References ==
Newspaper bag
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The meridian 9° east of Greenwich is a line of longitude that extends from the North Pole across the Arctic Ocean, Europe, Africa, the Atlantic Ocean, the Southern Ocean, and Antarctica to the South Pole. The 9th meridian east forms a great circle with the 171st meridian west.
9th meridian east
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Starting at the North Pole and heading south to the South Pole, the 9th meridian east passes through:
9th meridian east
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Financial contagion refers to "the spread of market disturbances – mostly on the downside – from one country to the other, a process observed through co-movements in exchange rates, stock prices, sovereign spreads, and capital flows". Financial contagion can be a potential risk for countries who are trying to integrate...
Financial contagion
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At the domestic level, usually the failure of a domestic bank or financial intermediary triggers transmission when it defaults on interbank liabilities and sells assets in a fire sale, thereby undermining confidence in similar banks. An example of this phenomenon is the subsequent turmoil in the United States financial...
Financial contagion
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However, under today's financial system, with the large volume of cash flow, such as hedge fund and cross-regional operation of large banks, financial contagion usually happens simultaneously both among domestic institutions and across countries. The cause of financial contagion usually is beyond the explanation of rea...
Financial contagion
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Financial contagion can create financial volatility and can seriously damage the economy and financial systems of countries. There are several branches of classifications that explain the mechanism of financial contagion, which are spillover effects and financial crisis that are caused by the influence of the four agen...
Financial contagion
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These effects can happen either globally, heavily affecting many countries in the world, or regionally, affecting only neighboring countries. The big players, who are more of the larger countries, usually have a global effect. The smaller countries are the players who usually have a regional effect.
Financial contagion
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"These forms of co-movements would not normally constitute contagion, but if they occur during a period of crisis and their effect is adverse, they may be expressed as contagion. ""Fundamental causes of contagion include macroeconomic shocks that have repercussions on an international scale and local shocks transmitted...
Financial contagion
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Common shocks can be similar to the effects of financial links. "A financial crisis in one country can lead to direct financial effects, including reductions in trade credits, foreign direct investment, and other capital flows abroad." Financial links come from financial globalization since countries try to be more eco...
Financial contagion
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Allen and Gale (2000), and Lagunoff and Schreft (2001) analyze financial contagion as a result of linkages among financial intermediaries. The former provide a general equilibrium model to explain a small liquidity preference shock in one region can spread by contagion throughout the economy and the possibility of cont...
Financial contagion
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Trade links is another type of shock that has its similarities to common shocks and financial links. These types of shocks are more focused on its integration causing local impacts. "Any major trading partner of a country in which a financial crisis has induced a sharp current depreciation could experience declining as...
Financial contagion
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Kaminsky and Reinhart (2000) document the evidence that trade links in goods and services and exposure to a common creditor can explain earlier crises clusters, not only the debt crisis of the early 1980s and 1990s, but also the observed historical pattern of contagion. Competitive devaluation is also associated with f...
Financial contagion
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"Devaluation in a country hit by a crisis reduces the export competitiveness of the countries with which it competes in third markets, putting pressure on the currencies of other countries; especially when those currencies do not float freely." This action causes countries to act irrationally due to fear and doubt. "If...
Financial contagion
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"Another branch of contagion is a financial crisis, which is also referred to irrational phenomena. A financial crisis as a branch of contagion is formed when "a co-movement occurs, even when there are no global shocks and interdependence and fundamentals are not factors." It is caused by any of the four agents' behavi...
Financial contagion
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Some examples that can cause contagion are increased risk aversion, lack of confidence, and financial fears. Under the correlated information channel, price changes in one market are perceived as having implications for the values of assets in other markets, causing their prices to change as well (King and Wadhwani (19...
Financial contagion
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This behavior will effectively transmit the shock. Out of the four agents, an investor's behavior seems to be one of the biggest one that can impact a country's financial system.
Financial contagion
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There are three different types of investor behaviors, which generally are considered rational or irrational and individually or collectively. The first type of behavior is when "investors take action that is ex-ante individually rational but lead to excessive co-movements – excessive in the sense that they cannot be e...
Financial contagion
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The first sub-category is liquidity and incentive problems. A reduction of equity prices can result in a loss of money for investors. "These losses may induce investors to sell off securities in other markets to raise cash in anticipation of a higher frequency of redemptions."
Financial contagion
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These liquidity problems are also challenges for banks, specifically commercial banks. Incentive problems can also have the same effects as liquidity problems. For instance, the first signs of a crisis may cause investors to sell their holdings in some countries, resulting in equity and different asset markets in econo...
Financial contagion
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This causes the value of currencies in these economies to also decrease. The second sub-category is information asymmetries and coordination problems. This type of investor behavior can either be considered rational or irrational.
Financial contagion
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This sub-category is when one group, or country, has more or significantly better information compared to another group or country. This can cause a market failure problem, which could potentially cause a financial crisis. The second type of investor behavior concentrates on multiple equilibriums.
Financial contagion
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It focuses on the investor's behavioral changes when the financial market can have multiple equilibrium changes. Thus, "contagion occurs when a crisis in one financial market causes another financial market to move or jump to a bad equilibrium, characterized by a devaluation, a drop in asset prices, capital outflows, o...
Financial contagion
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It can make investors adjust their behaviors after a financial transaction occurs internationally or an initial crisis occurs. These behaviors can lead to spillover effect, causing contagion. In addition, there are some less-developed explanations for financial contagion.
Financial contagion
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Some explanations for financial contagion, especially after the Russian default in 1998, are based on changes in investor "psychology", "attitude", and "behavior". This stream of research date back to early studies of crowd psychology of Mackay (1841) and classical early models of disease diffusion were applied to fina...
Financial contagion
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Faced with a choice between two identical piles of food, ants switch periodically from one pile to the other. Kirman supposes that there are N ants and that each switch randomly between piles with probability ε (this prevents the system getting stuck with all at one pile or the other), and imitates a randomly chosen ot...
Financial contagion
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They also find market sentiments can more influence prices but less on quantities in Latin America, compared with Asian countries. Besides, there are some researches on geographic factors driving the contagion. De Gregorio and Valdes (2001) examine how the 1982 debt crisis, the 1994 Mexican crisis, and the 1997 Asian c...
Financial contagion
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The term "contagion" was first introduced in July 1997, when the currency crisis in Thailand quickly spread throughout East Asia and then on to Russia and Brazil. Even developed markets in North America and Europe were affected, as the relative prices of financial instruments shifted and caused the collapse of Long-Ter...
Financial contagion
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This caused economists to realize the importance of financial contagion and produced a large volume of researches on it. Yet, there were episodes of international financial crisis that occurred before the introduction of the term contagion. Some analysts, including Bordo and Murshid, identify the crisis that happened i...
Financial contagion
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"The liberation of Latin American in the early 1820s led to a massive inflow of capital from Britain to finance the exploitation of gold and silver mines and of sovereign loans to the newly independent republics." Between new industries beginning to grow, an increase in foreign influence, and a liberal monetary expansi...
Financial contagion
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The stock market crashed in October, which triggered a banking crisis around December. This crisis spread throughout the continent. "This crisis spread to Latin America as the overseas loans were cut off, a decline in investment and exports reduced tax revenues and led to sovereign debt defaults across the region.
Financial contagion
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"One of the biggest worldwide crises was the stock market crash on Wall Street in October 1929. The failure from 1929–33 was foreshadowed by collapses in commodity prices in multiple emerging nations. The stock market boom in New York by 1928 choked off U.S.
Financial contagion
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capital flows to central Europe and Latin America and precipitated currency crises in a number of countries (Australia, Argentina, Uruguay, and Brazil) and early in 1929. The Wall Street crash caused stock market scares globally. This is known as the Great Depression.
Financial contagion
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The U.S. crisis in 1929 turned into the Great Depression by 1930 and 1931 because the Federal Reserve was unsuccessful at relieving multiple banking panics. The resultant collapse in prices and output worldwide forced sovereign borrowers to cut back on servicing their debts and then to default, precipitating a collapse...
Financial contagion
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National banks continuously borrowed from countries abroad and continuously lent within their own country. At the time, it did not seem excessive, but it appeared so in the aftermath.
Financial contagion
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Bad loans were made, risks were taken due to misunderstandings, and the level of debt continued to grow. "After the start of the crisis, national equity betas increased and average returns fell substantially". The first currency that faced problems was the Thai baht.
Financial contagion
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With the Thai baht having issues, it doubled the debt of Thai organizations, which started the spread of the crisis to other countries. As this was happening, investors started reevaluating their investments in this region. This caused the flow of money to disappear rapidly, resulting in the growth of this crisis.
Financial contagion
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The crisis of 2007–08 has been identified as the most severe since the 1930 Great Depression. Major financial institutions around the world were greatly affected. The history of the 2007–08 crisis traces back to the bursting of the housing bubble in the United States, and the increase in mortgage defaults.
Financial contagion
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This came about as a result of the mandate by the U.S. Congress for the Federal National Mortgage to increase access to low-income housing.
Financial contagion
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As a result of the high default rates, many financial institutions across the U.S. were affected.
Financial contagion
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Although the U.S. government had attempted to salvage the situation through liquidity doses, the crisis further deepened. By March 2008, Bear Sterns, a U.S.
Financial contagion
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investment bank, required the efforts of the government to be rescued. At this stage, it was clear that the crisis had deepened. Other financial institutions, such as the Lehman bank and American International Group (AIG), started to feel the effects of the crisis.
Financial contagion
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The severity of this crisis grew, and most U.S. and European banks were pulling back their international loans. This move caused major financial problems across the world, especially for those countries that rely heavily on international borrowing.
Financial contagion
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Financial contagion was felt severely, especially in countries whose financial systems were vulnerable due to local housing bubbles and current account deficits. Some of the countries affected were Germany, Iceland, Spain, Britain and New Zealand among others. Many analysts and governments had failed to predict the rea...
Financial contagion
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Financial contagion is one of the main causes of financial regulation. A top priority for both domestic financial regulators and international organizations is to prevent financial contagion using financial regulation and planning the international financial architecture. This priority was especially important during t...
Financial contagion
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At the international level, under today's modern financial systems, a complicated web of claims and obligations link the balance sheets of a wide variety of intermediaries, such as hedge funds and banks, into a global financial network. The development of sophisticated financial products, such as credit default swaps a...
Financial contagion
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financial recession, the trigger of failure of Lehman Brothers dramatically spread the shock to the whole financial system and other financial markets. Therefore, understanding the reasons and mechanisms of international financial contagion can help policy makers improve the global financial regulation system and thus ...
Financial contagion
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Therefore, a better domestic financial regulation structure can improve an economy's liquidity and limit its exposure to contagion. A better understanding of financial contagion between financial intermediaries, including banking, rating agencies and hedge funds will be conducive to making financial reform in both U.S....
Financial contagion
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The econometric literature on testing for contagion has focused on increases in the correlation of returns between markets during periods of crisis. Forbes and Rigobon (2002) described the current imprecision and disagreement surrounding the term contagion. It proposes a concrete definition, a significant increase in c...
Financial contagion
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Let V {\displaystyle {\mathcal {V}}} is the set of financial assets and p v ( t ) {\displaystyle p_{v}(t)} be the price of asset v ∈ V {\displaystyle v\in {\mathcal {V}}} at time t {\displaystyle t} . A network with contagion is defined in matrix form as Γ ( t ) ∈ { 0 , 1 } n × n {\displaystyle \Gamma (t)\in \{0,1\}^{n...
Financial contagion
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In their specific application, Forbes and Rigobon (2002) estimated a variant of this model to study contagion between countries. They first estimated the variance-covariance matrices for each pair of countries during the stable period, turmoil period, and full period. Then, they use the estimated variance-covariance ma...
Financial contagion
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As Pesaran and Pick (2007) observe, however, financial contagion is a difficult system to estimate econometrically. To disentangle contagion from interaction effects, county-specific variables have to be used to instrument foreign returns. Choosing the crisis period introduces sample selection bias, and it has to be as...
Financial contagion
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In consequence, there appears to be no strong consensus in the empirical literature as to whether contagion occurs between markets, or how strong it is. The financial and economic literature presents ample evidence that in time of crisis co-movements between the returns of assets increase. This increase in correlation ...
Financial contagion
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The increase in correlation can be explained by a procyclical forbearance policy of regulators. Since regulators have greater forbearance during systemic crises, the increase in correlation creates incentives for banks to herd and become interconnected so that when they fail, they fail together, increasing their chance...
Financial contagion
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Recently, Nasini and Erdemlioglu have proposed a model to study how the effects on stock price dynamics of different network propagation channels vary according to the state of the economy. Drawing on the view that decisions and outcomes of financial firms are influenced by multiple network channels, they studied the s...
Financial contagion
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Define s ^ v , v ′ ( ℓ ) = ∑ c β c ℓ s v , v ′ Δ ( t − ℓ ) γ v , v ′ ( c ) {\displaystyle {\hat {s}}_{v,v^{\prime }}(\ell )=\sum _{c}\beta _{c\ell }s_{v,v^{\prime }}^{\Delta }(t-\ell )\gamma _{v,v^{\prime }}(c)} , where s v , v ′ Δ ( t − ℓ ) {\displaystyle s_{v,v^{\prime }}^{\Delta }(t-\ell )} quantifies the difference...
Financial contagion
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Filter theory is a sociological theory concerning dating and mate selection. It proposes that social structure limits the number of eligible candidates for a mate. Most often, this takes place due to homogamy, as people seek to date and marry only those similar to them (characteristics that are often taken into account...
Filter theory (sociology)
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The idea of "opposites attract” is heterogamous, as well as the idea that one spouse has complementing, not similar characteristics to the other. : 4 Helpful terms in defining filter theory are "endogamy", which indicates that both partners come from the same group (ethnicity, religion, culture, age similarity, lifesty...
Filter theory (sociology)
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Filtering model created by psychologists Louis Janda and Karen Klende-HamelMarried Couples → Eligible Partner Starting with the base of all people, remove married couples, who are not available to be in a relationship, and Eligible Partners remain; all those who are available to be in a relationship. Compatibility Filt...
Filter theory (sociology)
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Potential Field of Partners After all filters have been applied, this group of people remains as potential partners. People Who Live in Proximity → Total Field of Potential PartnersOf all the people who are potential partners, for practical reason people choose partners who are close by. With growing communications and...
Filter theory (sociology)
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Different cultures have different desired aspects in a partner, but all of these different aspects fall into the same categories. For example, love-marriage selection criteria seem to reflect individuals' personal concerns, such as personal and interpersonal qualities of the prospective mate and compatibility issues, w...
Filter theory (sociology)
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People are drawn to someone with a similar lifestyle and standard of living. These people have a higher chance of common personal tastes, opinions and values with one another, making it easier to establish affinitive relations. These aspects can be assimilated through the different social networks.
Filter theory (sociology)
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Contrary to popular belief, having a common profession is not the strongest predictor of compatibility; educational homophily trends towards confirming cultural differences and similarities, which are stronger than occupational stratification. In essence, working in proximity with someone in a similar work force does n...
Filter theory (sociology)
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A study carried out by sociologist Robert F. Winch on twenty five couples for the purpose of testing out the theory of the ways in which complementariness appears to function in mate-selection. The theory is both psychological and sociological because it derives from the Freudian tradition, but also concerns the format...
Filter theory (sociology)
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As a result, Winch proposes that, "since meeting appears to be a precondition for falling in love, what observations can we make about whom one meets or is likely to meet? ": 12 Well, he states, it is more common than not that if one frequents certain places, they will most likely find someone who is, "accustomed to th...
Filter theory (sociology)
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As social psychologist Andrea B. Hollingshead states, "next to race, religion is the most decisive factor in the segregation of males and females into categories that are approved or disapproved with respect to nuptiality". Winch found that people tend to associate with and to marry among persons similar to themselves,...
Filter theory (sociology)
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While mate-selection has been found to be mostly homogamous in regard to social characteristics,: 5 such as religion, the psycho-dynamic of couples has not been. According to Sigmund Freud, there was a tendency for self-loving people to mate with those who were emotionally dependent, and similarly, one may fall in love...
Filter theory (sociology)
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In this, the word “perceive” holds a lot of significance because one may perceive that they are more similar to someone than they actually are, and therefore believe they have more in common than they really do. Additionally, an individual may be inclined to overlook differences because importance is held over certain ...
Filter theory (sociology)
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Bundling, or tarrying, is the traditional practice of wrapping a couple together in a bed sometimes with a board between the two of them, usually as a part of courting behavior. The tradition is thought to have originated either in the Netherlands or in the British Isles and later became common in colonial United State...
Bundling (tradition)
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It is possible the precedent for bundling came from the biblical story of Ruth and Boaz, in which Ruth, a widow, and Boaz, a wealthy landowner, spend a night together in a grain storage room. Tradition says they did not touch, and the pair later got married.
Bundling (tradition)
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Bundling, or "bed courting" is believed to have originated in the pre-Celtic populations of the British Isles and was introduced to the American colonies by European immigrants (primarily Dutch and Welsh) where it attained unprecedented popularity. Traditionally, the practice of courtship involved two young adults, oft...
Bundling (tradition)
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Periods of popularity for the practice of bundling often align with eras of enhanced social position for women, as this custom afforded a high level of protection against premarital sex.The custom of bundling, which became common in New England in the eighteenth century, was used to certify that an unwed father was hel...
Bundling (tradition)
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Stricter standards came about in the eighteenth century when the court officials wanted evidence in support of the woman's allegation, which could be difficult to obtain. If a couple had sex in secret and the woman became pregnant, no witness of the relation would have taken place. Marriage by a spousal contract or in ...
Bundling (tradition)
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Two forms of bundling in Colonial America are generally discussed: a sleeping arrangement between strangers, or the bed-sharing of lovers under parental supervision. The former definition refers to the practice used to accommodate the heavy traffic of travelers in the underdeveloped colonies, often with no implication ...
Bundling (tradition)
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The measure of familial and community protection which bundling provided against the scandal of abandonment was not offered in urban settings where populations had a much higher degree of mobility and anonymity.Despite some religious criticism, bundling rose in popularity amongst rural populations throughout the eighte...
Bundling (tradition)
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A high correlation is observed between the pre-marital pregnancy status of mothers and daughters in the 18th century.In Colonial United States, Jonathan Edwards and other preachers condemned bundling. American Puritanism condemned the practice of bundling as immoral, or un-Christian. The heydey of Bundling in the late ...
Bundling (tradition)
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With the Second Great Awakening at the turn of the 19th century, religion became a much larger part of adolescent life and puritanical morals were more heavily enforced by a larger societal group. As social opinion moved away from the practical solution of bundling to the ideological solution of abstinence and moral re...
Bundling (tradition)
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267 (N.Y. 1846), for example, initially argued before Judge Edmunds in the Orange Circuit Court of New York, concerned the seduction of a 19-year-old woman; testimony in the case established that bundling was a common practice in certain rural social circles at the time. By the 20th century, bundling seems to have disa...
Bundling (tradition)
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The Kwanyama are one of the eight Ambo Bantu tribes that live in Southwest Africa. The courtship practice of bundling is popular amongst the Kwanyama. This practice began within the Kwanyama Ambo tribe during the eighteenth century. Bundling for the Kwanyama does not imply sexual intercourse, but rather the word bundli...
Bundling (tradition)
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In South Africa, bundling prevented the birth of illegitimate children. Kwanyama engaged couples bundle under supervision, but illegitimate bundling occurs at night during public gatherings—meaning no witness is present.Bundling had been reported across the Germanic tribes, the Celts, the Finns and people of the Baltic...
Bundling (tradition)
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This practice began in the nineteenth century in Norway and Sweden. The participants were either entirely or partially clothed, and sexual intercourse would not occur. The youth were enabled to choose a mate without the interference of their parents.In the seventeenth century, Jewish society encouraged affection before...
Bundling (tradition)
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This suggests similarities to bundling practices in early modern France and North America. Bundling within Jewish courtship practices involved some sexual contact short of intercourse. Seventeenth century moralist Isaiah Horowitz denounced this practice, as he was concerned with the sexual transgressions that may occur...
Bundling (tradition)
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The writer Washington Irving, in book 3, chapter 7 of A History of New York (1809) as well as other of his works, refers to bundling as a Yankee practice.This amazing increase may, indeed, be partly ascribed to a singular custom prevalent among them, commonly known by the name of bundling—a superstitious rite observed ...
Bundling (tradition)
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Gabriel Edward Martin, Heath Ledger's character in the 2000 film The Patriot, is bundled when he spends an overnight visit at the home of Anne Patricia Howard (Lisa Brenner), the girl that he is courting. Anna Gunn's character in the HBO series Deadwood mentions removing a bundling board from their bed in Season 2, Epi...
Bundling (tradition)
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Positive psychology is a branch of psychology that studies the conditions that contribute to the optimal functioning of people, groups, and institutions. It studies "positive subjective experience, positive individual traits, and positive institutions... it aims to improve quality of life." It is a field of study that ...
Positive psychology
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It builds on the humanistic movement by Abraham Maslow, Rollo May, and Carl Rogers, which encourages an emphasis on happiness, well-being, and positivity.Positive psychology largely relies on concepts from the Western philosophical tradition, such as the Aristotelian concept of eudaimonia, which is typically rendered i...
Positive psychology
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Spirituality can also lead to increased individual happiness and well-being. Spiritual practice and religious commitment is a possible source for increased well-being studied within positive psychology. Happiness may rise with increasing income, though it may plateau or even fall when no further gains are made or after...
Positive psychology
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Seligman and Mihaly Csikszentmihalyi define positive psychology as "the scientific study of positive human functioning and flourishing on multiple levels that include the biological, personal, relational, institutional, cultural, and global dimensions of life."
Positive psychology
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Positive psychology concerns eudaimonia, which is considered an essential element for the pursuit of happiness and a good life. It emphasizes cherishing that which holds the greatest value in life and other such factors that contribute the most to having a good life. A ‘good life’ is defined by psychologists and philos...
Positive psychology
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It is concerned with positive states (e.g. happiness), positive traits (e.g. talents, interests, strengths of character), positive relationships and positive institutions and how these can apply to physical health.A basic premise of positive psychology is that human actions arise from our beliefs about the future; howe...
Positive psychology
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Happiness can be defined in two general ways, one being an enjoyable state of mind and the other being the living out of an enjoyable life.
Positive psychology
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That which is ultimately good for an individual both physically and mentally.
Positive psychology
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Encompasses more than just physical and mental well-being; it can also include socioeconomic factors. This term can be perceived differently in different cultures and regions around the world. In the simplest of terms, this is how well you are living and functioning in life.
Positive psychology
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According to Seligman and Peterson, positive psychology addresses three issues: positive emotions, positive individual traits, and positive institutions. Positive emotions concern being content with one's past, being happy in the present, and having hope for the future. Positive individual traits are one's strengths an...
Positive psychology
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While the formal discipline of positive psychology has only existed since 2000, the concepts that form the basis of it have been the subject of empirical study since at least the 1980s, and present in religious and philosophical discourse for thousands of years. The field has been influenced by humanistic as well as ps...
Positive psychology
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In the second edition published in 1970, he removed that chapter, saying in the preface that "a positive psychology is at least available today though not very widely." There have been indications that psychologists since the 1950s have increasingly focused on promoting mental health rather than merely treating mental ...
Positive psychology
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The first positive psychology summit took place in 1999. The First International Conference on Positive Psychology took place in 2002. In 2006, a course on positive psychology at Harvard University was one of the most popular courses on offer. In June 2009, the First World Congress on Positive Psychology took place at ...
Positive psychology