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Ebook A Comparison of the Diet and Growth of the Trout from the Upper Au Sable and Upper Manistee Rivers, Michigan

Submitted by puput on Sat, 02/20/2010 - 02:21

The Au Sable and Manistee rivers are among the most prestigious trout streams in Michigan. Much of their fame comes from fishing success in the middle and lower sections of the rivers but little has been reported about the upper sections. This report will focus on the upper sections of these two rivers.

These wooded upper regions are largely uninhabited. Soils of the area are comprised mainly of sand and gravel (Burgis 1977; Coopes 1974), which lead to a high degree of water infiltration into the water table. This provides a stable stream discharge, even during the summer months, which is an important factor in maintaining conditions suitable for the fine trout populations that dominate these rivers (Benson 1953b).

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Ebook Why do we need mandated rules of public disclosure for banks?

Submitted by wulan on Fri, 01/08/2010 - 05:48

The two conflicting opinions quoted above refer to a recent suggestion by the Basel Committee on Banking Supervision (BCBS). In 2001, the Committee proposed to introduce public disclosure requirements for banking organizations as an integral part of a new capital adequacy framework.

The suggestion came as a part of the general shift of financial disclosure requirements from the disclosure of economic earnings and other information about present results to wider disclosure of information useful in assessing the amount, timing, and uncertainty of prospective earnings. In banking, an emphasis on enhanced bank transparency was brought about by the growing complexity of financial environment and increased diversity of information needs. Hence, the Committee, facing the challenge, envisioned the mandatory disclosure rules for banks as a core component necessary to assure the market’s monitoring of the capital adequacy of banks.

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Ebook Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two&country DSGE model

Submitted by wulan on Wed, 06/23/2010 - 06:48

This paper presents an estimated two country dynamic stochastic general equilibrium (DSGE) model for Poland and the euro area and applies it for assessing the degree of heterogeneity between these two regions. In particular, relative relevance of two sources of heterogeneity are examined: differences in structural parameters and asymmetry of shocks hitting the two economies.

While comparing a set of structural and stochastic characteristics of the Polish economy with those prevailing in the euro area seems to be an interesting task in itself, our research is additionally motivated by Polandms prospective entry to the European Monetary Union (EMU). A standard and well&known implication of the optimal currency area (OCA) theory is that asymmetric temporary shocks and asymmetric short&run response to common shocks weaken the case for a common currency, as being a member of a monetary union implies losing benefits form the monetary autonomy and stabilizing movements of the exchange rate. Consequently, identifying the main sources of heterogeneity between Poland and the euro area may be viewed as an important step towards assessing the costs of Polandms EMU entry.

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