In recent months the global financial system has undergone a period of unprecedented instability. The current financial crisis has brought into sharp focus the need for robust empirical analysis of bank default prediction models. The contagion currently affecting the banking sector has its roots in traditional banking crises, i.e. inflated asset valuations and inadequate risk management. The difference, however, between past crises and that which appears to have began in earnest in August 2007 is the presence of the credit derivatives (CDs) market. The transmission of credit risk via these types of instruments appears, according to international financial regulators, to have amplified the current global financial crisis by offering a direct and unobstructed mechanism for channeling defaults among a variety of types of financial institutions.
Whilst the causes of this crisis are fairly well recognized, the mechanism of transmission of shocks between CDs markets and the banking sector is not so well understood from an empirical perspective. Particularly, much less is known about the effects of the credit default swap (CDS) market on the viability of systemically relevant financial institutions. The academic and practitioner literature have not yet reached firm conclusions on the financial stability implications of CDS. Consequently, we require much more analysis of the linkages between CDSs and systemic risk. Admittedly, the recent dramatic developments in financial markets prompt the need for a thorough re-examination of the “mechanics” of these instruments as well as their Systemic implications.
This report provides an overview of Type 2 Diabetes in Nunavut for the period of 1997- 2002 as well as some supplementary information on diabetes that may be of assistance to the population health program staff.
In the past various approaches, including sample surveys have been used in order to obtain population-based estimates of the incidence and prevalence of diabetes. For this report, we have used comprehensive administrative health data to create a population-based database of cases of clinically diagnosed diabetes. There are limitations to this approach as these data rely on the diagnostic reporting of many physicians and community health nurses and clinical precision cannot be assured. It is possible that different diagnostic criteria are being used across the territory.
“In our technological society, technique is the totality of methods rationally
arrived at and having absolute efficiency (for a given stage of development) in every field of human activity.” (Ellul, 1964) p. xxv.
A totality of methods….not just manufacturing, or what we call high-tech, but also advertising, politics (think of the subtlety with which “spin” is applied), management, psychology, economic, and educational. This totality is brought to bear in every field of human activity…there are instruction manuals and self-help books for everything. By the way, an easy image to grasp this is to reflect on the runaway popularity of the “Blank….for Dummies” series.
