text:
ECON 5450 Crises, Adjustment and Poverty in LDCs Fall 2012
Darryl McLeod Economics Department
Course Description: In a surprising reversal of fortune, OECD countries (the EU, U.S. and Japan) remain mired
in the backwash of the 2008 financial crisis while countries In the South and East grow and prosper. What lessons
can the OECD countries learn from similar crises in Asia and Latin America during the 1980s and 1990s? How
did Asia, Latin America and Africa avoid the worst of the 2008 crisis? This course explores how developing
countries cope with and adjust to and prevent periodic banking and balance of payment crises. Key special
topic is the distributional consequences of financial crises for poor and vulnerable groups (see UNICEF studies)
and the role of the IMF. The 1946 Bretton Woods agreement charged the IMF with mitigating contagion and
supporting a managed exchange rate system. Until recently it main task seemed to be imposing the Washington
Consensus ("conditionality") on developing countries. But since 2008 it has become more dependent on the
Group of 20 and in a return to its Bretton Woods roots, it is helping the ECB defend the EURO and deal Southern
European debt problems. Since 2008 the IMF has extended BoP assistance to Iceland, Belarus, Latvia, Sri Lanka,
Pakistan, Mongolia, Hungary, Georgia, and more recently to Portugal, Ireland, Italy, Greece, and Spain (not all
of these countries have accessed IMF credity lines, but the IMF's crisis map has more markers in Europe every year).
Is the IMF helping end the crisis or making it worse? Both the role of the IMF and/or the impact of crises on the
Poor and vulnerable in developing countries are topics for country projects (discussed below).
Booms and busts exacerbated by financial crises seem to characteristic of capitalist growth and development. The
2008 financial crisis is severe but not unprecedented. Developing countries and commodity exporters in particular
have long struggled with debt and currency crises aggravated by bank failures and sudden stops in private capital
inflows. Even foreign aid flows can be volatile, during and after conflict for example. This course focuses on how
developing countries coped with the recent crisis and previous debt and currency in crises. The current crisis has
mainly affected the OECD countries, but ironically lessons for coping with financial learned in developing countries
are being applied with some success by policy makers and economists (see Frankel's NBER survey).
Course requirements: The midterm and final exam account for 55% of the course grade (25% and 35%). Several
problem sets (20%) and a crisis and adjustment case study/presentation account for the remaining 45% of the course
grade. The weight of the take-home midterm can be reduced if case studies are presented to the class for discussion.
Office Hours: Wed 9:30-10:30pm and Monday at 5:30pm or by appointment. Office hours are in my office E-527
Dealy, but check in 207 Dealy Wednesday and 208 Keating on Monday, check my web page for changes in
Office hours, it is always best to confirm a meeting by email at email@example.com and/or by calling my cell
914 661-6998 when you get to my office or in the AM the same day.
Recommended texts:
Agénor, Pierre-Richard (2004) Adjustment and Growth 2nd edition (not 1st edition) Harvard Univ Press,
0674015789 Introduction (PhD students: also used for ECGA 6470 Growth and Development)
Agénor, Pierre-Richard and Montiel, Peter (2008) Macroeconomics for Developing Countries, 3rd ed.
Princeton Univ Press
*Krugman, P. (2012) End this Depression now!, WW Norton, NY $9.5 Kindle, $15 paper, read intro, 0393088774
Sachs J.G. & F. Larraine (1992) Macroeconomics in a Global Economy, Prentice-Hall. (S&L) Chapters 6 and
20-23 provides good and at times unique review of open economy macroeconomics with a focus on LDCs
*Krugman (2009) The return of Depression Economics and the Crisis of 2008, WW Norton, 0393337804 Kindle $10, paper $11.
Montiel, Peter (2011) Macroeonomics in Emerging Markets, 2nd ed. Cambridge Univ Press, $32 Kindle, 0521733049
*Reinhart, Carmen M. and Kenneth Rogoff (2009) This Time Is Different: Eight Centuries of Financial Crisis
($13 paper or $9 Kindle) Princeton University Press, Princeton, NJ, read first few chapters free online.
*I suggest purchasing these books (Masters and PhD) on ebook or paper, PhD students should have Agenor 2004
and/or Angenor and Montiel (2008) 3rd Ed. as reference books in this area. Montiel (2011) are Master's level texts,
but S&L Sachs and Larraine (1992) provides a complete text for the key intertemporal current account and dependent
economy or TNT models used in this course. The library has two copies of the S&L and Eres has chapters as well.
Topics Outline Fall 2012:
1. How did developing countries largely escape the 2008 crisis? How have the poor fared?
2. Current account imbalances: did "global imbalances" cause the 2008 financial crisis?
3. Classical and modern approaches to balance of payments adjustment.
4. Social budgeting distributional impacts of crisis on poverty and inequality.
5. Currency and banking crises: twin crises and twin
6. The role of the IMF, the UN and the World Bank in mitigating crises.
7. Crisis safety nets and the distributional consequences of external shocks.
8. Managing aid surges post-conflict, post-disaster and to cope with health crises
9. New approaches to Monetary policy in developing countries.
10. Private Capital flows to poor countries: boon or bane?
11. The Political economy of crises and reform
ECON 5450 Prices Fall 2011 (let me know if you find more up to date prices)
Date edition
Rheinhart& Rogoff
This Time is Different
Roubini and Mihm
Krugman, Paul
Return of Depression Economics
Sachs and Larrain
Macroeconomics in a global economy
Agenor, Pierre
Economics of Adj & Growth 2nd
Agenor & Montiel
Development Macro Econ 3rd ed
Adjustment Policies, Poverty, and Unemployment
1/Dealoz used price August 2011, includes shipping no tax of course.
Total to buy all books recommended
2/ This is the kindle price, other ebook formats are available.
Masters Student
3/ Amazon or dealoz new price does not include shipping or tax.
PhD Student
4/ rent or buy and return.
Recommended, some required reading:
World Bank (2009) Global Development Finance: The Development Potential of Surging Capital Flows, Washington D.C.
Tirole, Jean (2002) Financial Crises, Liquidity and the International Monetary System, Princeton Univ. Press
Eichengreen, Barry (2002) Financial Crises and What to do about them, Oxford U. Press 019257442 (paper)
Frankel, J. and A. Razin (1996) Fiscal Policies and Growth in the World Economy, 3rd ed. MIT Press
Good integrated graphical presentation of intertemporal current account dynamics Chapters 5 & 21.
Obstfeld and Rogoff (1998) Foundations International Macroeconomics, Chapter. 1, MIT Press
Excellent more advanced Open-economy macro text, but oriented mainly toward OECD countries
Readings by Topic (*required reading **PhD students only): return to topic list
1. Why is the West doing so much worse than the rest of the world?
Krugman (2009) return of depression economics, pages 1-22
Rheinhart& Rogoff (2009) Chapter 1
Case study: did global imbalances cause the 2008 crises?
Michael Dooley, Peter Garber (2009) Global imbalances and the crisis: A solution in search of a problem
Vox economica, 21 March 2009
Xafa, Miranda (2008) Global Imbalances: do they matter? Cato Journal, Winter vol. 27, number 1.
Yes, somewhat: Sester, Brad (2008) "Bretton Woods 2 and the Current Crisis: Any Link?
", Council on Foreign Relations
Pre-crisis views: Bernanke on Global Imbalances A slightly different view from the head of FRBNY
Raghuram Rajan (2005) Global Current Account Imbalances IMF Speech March 15th 2005
2. Distributional Impacts of the Current Financial Crisis:
World Bank Global Monitoring Report: factsheet on impact of global crisis on poor
UNICEF Ronald Mendoza (2009) Aggregate Shocks, Poor Household and Children: Transmission
Channels and Policy Responses (will speak at Fordham LC, September 22nd, 4pm, please
attend if you can, launch of Fordham Social Justice Consortium.
UNDP Crisis page (excellent short film on crisis impact on exports, garment industry etc.…)
3. Crisis economics and antidotes to global crisis why are they working for some not others?
- G-20 boosts IMF Lending to $1 trillion (potentially)
- Currency depreciation in Mexico, Brazil, Nigeria,
- Scaling up aid (World Bank President Robert Zoellick's Vulnerability Fund)
- China and India stimulus (plus reserves) Nigeria coping with a sharp drop in oil prices,
- Mexico: coping with everything (H1N1, export collapse, lower remittances, drug related violence)
4. Classical thinking on external adjustment I: Elasticity, Absorption & Monetary Approach
Elasticity Approach Notes Monetary Approach Handout Benefits/costs of alternative Adjustment Strategies
*de Vries,M.G. (1987) pp 7-30 *Boughton, James (2000) The Silent Revolution
Helmers Chapter 2 The RER pp. 10-23 Gillis et al. Adjustment in a small open economy (TNT & MABP)
Agénor sections *(9.2-9.4) (skip 9.1 & 9.5) Hinkle & Montiel (1999) FX Misalignment (on CD)
5. External Adjustment II: Intertemporal, TNT & Mundell-Fleming CA models
S&L (1993) Chapters *6, 13.1-13.3, 14.1-14.2, and 21A & 21B (ERES) Overshooting Handout
Economist & Rogoff (2001) "Overshooting" Mundell-Fleming Handout Problem Set #2
Frankel and Razin (1996) 3rd ed. Chapter **17 chapter 5**; **Agénor Chapters 1,2 and 8.1-8.3
Obstfeld and Rogoff (1998) International Macroeconomics, Chapter 1, MIT Press.
6. Financial crises in emerging markets: cures, causes, costs and benefits
Tirole Introduction and Chapter 1 Tornell, Westerman and Martinez (2004) "Financial, Liberalization Growth and Crises" NBER WP #10293
Eichengreen, (2004) Financial Instability (pages 1-36) or (1999) Chapters 1-2 and App. B
World Bank (2006) GDF: The Development Potential of Surging Capital Flows, *Overview and *Chapt. 5
Aziz & Dunaway (2007) China's Rebalancing Act
Edwards, Sebastian (2005) Is The U.S. Current Account Deficit Sustainable?
And If Not, How Costly Is Adjustment Likely To Be? NBER WP #11541
Obstfeld & Rogoff (2005) The Unsustainable U.S. Current Account Deficit Revisited NBER
IMF World Economic Outlook Chapter 5 Globalization and External Imbalances
Commanding Heights Episode 3 Chapters 1,5,6,11,12 (on line)
World Bank, GDF 2004, Overview and Chapter 1 A Mystery slides GDF presentation slides
Guitan, M. The Challenge of Managing Global Capital Flows, F&D, June 1998 (CD)
7. Managing Aid flows: conflict and disaster recovery
Gupta, Sangeev et. al (2005) Macro Challenges of Scaling up Aid to Africa (Chapters *1 & *2)
Demekas et. al (2002) The Economics of Post Conflict Aid, IMF Working Paper
Collier, et. al. (2003) Breaking the Conflict Trap, Chapter 5 (World Bank on the CD)
Paul Collier and Anke Hoeffler (2001) Aid, Policy and Growth in Post-Conflict Societies
Gupta, Sangeev, R. Powell and Y. Yang (2006) Macroeconomic Challenges of Scaling up Aid to Africa,
A checklist for Practitioners, IMF, Washington DC.
Haacker, M. (2004) The Macroeconomics of HIV/AIDS, IMF, Washington D.C. http://www.imf.org/external/pubs/ft/aids/eng/
Elbadawi, I. A., Kaltani, L & K. Schmidt-Hebbel (2007) "Post-Conflict Aid, Real Exchange Rate Adjustment,
and Catch-up Growth", World Bank Policy Research Working Paper 4187, http://go.worldbank.org/PI1GZKJ2B0
Hausmann, R and D. Rodrik (2003) Discovering El Salvador's growth potential http://ksghome.harvard.edu/~drodrik/elsalvador.pdf
Arndt, C., Sam Jones and Finn Tarp (2006) "Aid and Development: The Mozambican Case"
University of Copenhagen, Department of Economics, Discussion Paper 06-13.
8. Stabilization, Safety Nets and Income Distribution to topics Income Dist Handout
Bourguignon, F & C. Morrisson (1992) Adjustment & Equity in LDCs (OECD, Paris).
*Clement, Benedict (1997) Brazil's Real Plan, Income Dist. & Poverty, F&D, Sept.
*Lustig, Nora (1999)"Crises & the Poor: Socially Responsible Macroeconomics", IADB
Easterly and Fischer (2001) Inflation and the Poor, JMCB.
World Bank, Managing Economic Crises Chapter 9 2001 WDR World Bank,
World Bank, Safety Nets and Transfers
Romer and Romer (1998) "Monetary Policy & the Poor",NBER WP #6793 [CD]
Subbarao,Braithwaite, Jalan (1997) Protecting the Poor During Adjustment, WB
9. The Political Economy of Stabilization and Reform: return to topics
*Drazen (2000) Inaction Delay and Crises See also Agénor Chapt 17 section 4 Chapt 17 part 1
*Agénor Chapter 17 Clift and J. Williamson Beyond the Washington Consensus, September 2003
*Haggard, S. & S. Webb (1993) "Political Economy of Reform," WBRO, 8:2,143-68, [ERes]
*Haggard, S. & S. Webb (1996) Voting for Reform "Introduction" [ERes]
Drazen, A. (2001) Conditionality: A Political Economy Approach
Alesina & Drazen (1991) Why Stabilizations are Delayed AER,81:5, pp. 1170-1188 [CD]
Williamson, J (1990) What Washington Means by Reform (2002) Did the Washington Consensus Fail?
Dani Rodrik (1993) The Positive Economics of Policy Reform, AER, 83:2,356-361 [CD]
Ivanova et.al,(2001) "What Determines Success or Failure of Fund Programs?" pp, 1-11.
Dollar & Swensson Explaining the Success of Structural
Adjustment Programs World Bank.
Allan Drazen& Vittorio Grilli(1993) Do crises benefit reform?, AER, 83:3,598-607. [CD]
Alesina, Alberto (1994) "Political Models of Fiscal Reform", in Haggard & Webb (1994) op.cit.
10. Globalization, commodity price shocks and the return of high inflation:
Rogoff et. al (2006) slides Rogoff (2004) Gruben and McLeod (2006)
Agénor Sections 3.1,3.2, Chapt 6 2nd ed, 9.6. Defining Fiscal Deficits chart only Brazil's Inflation
*Calvo & Vegh (1994) "Stabilization & Nominal Anchors" CEP XII,35-45 . High Inflation Handout
*Hamann, J. and A. Prati (2001) "Why Do Many Disinflations Fail" pp. 1-9 & 17-38 (IMF Working Paper
Calvo and Vegh (1997) "Inflation Stabilization…" in Taylor & Woodford, ed. Handbook of Macroeconomics
Quirk, Peter (1996) "Exchange Rate Regimes as Inflation Anchors" F&D, IMF, March 1996
Dornbusch, R. (1993) "Lessons from High Inflation..." in Stablization, Debt and Reform, Prentice Hall.
M. Kiguel and N Liviatan(1992) "When Do Heterodox Stabilization Programs Work?" WBRO, 7:1, 35-58.
Dornbusch, R and Stanley Fischer, "Moderate Inflation," WBER, January 1993, 7(1), pp. 1-44.
11. The WB-IMF and their critics (debate): (return to topic list) IMF out of Argentina
Contemporary IMF critics and supporters: Keeping Capital Flowing
IMF-IEO The IMF in recent Capital Account Crises in Indonesia, Korea and Brazil
IMF-IEO Argentina Rogoff's IMF Strikes Back
IMF-IEO SubSaharan Africa Stanley Fischer Asian Crisis: View from the IMF
IFIAC (Meltzer) Commission Report and Associated Studies
Fishlow(2000) It's Working Economist: A Thankless Job IMF Conditionality: Policy Issues
K. Rogoff *Moral Hazard, F&D 9-02; *Managing World Economy; Easing Pain
Khan & Sharma (2002) *Conditionality and Country Ownership F&D June 2002
*full article: IMF Working Paper No. 01/142
M Mussa & M. Savastano (1999) "the IMF Approach to Stabilization" WP/99/104
(see also Masson & Mussa, The Role of the IMF, IMF Pamphlet 50, 1997)
M .Feldstein, Refocus the IMF, Foreign Affairs – March/April 1998
Stanley Fischer (1998) The IMF and the Asian Crisis IMF Survey: Fischer Reflects
J. Sachs (1997) IMF a power onto itself, FT 12-11-97 Allan Meltzer Interview 2003
Goldstein, Morris (2000) Structural Conditionality: How Much is too much?
Traditional criticisms of the IMF:
Bacha, E. (1987) "IMF Conditionality: Conceptual Problems …" WD 15:12, 1457-67.
Spraos, J.(1987) "IMF Conditionality: Misdirected, Ineffectual" Princeton Essays in Int. Finance.
Taylor, Lance (1988) Varieties of Stabilization Experience (Oxford Univ Press, NY)
Buira, A. (2001) of IMF An Analysis of IMF Conditionality… G24 working paper ?? [CD]
Buira,A. (1983)"IMF Financial Programs and Conditionality" JDE 12,111-36.
12. Currency and Banking Crises: causes and cures. *Generations of Currency crisis models
Agénor Chapter 8 (esp. *8.2-8.4) *Tirole Chapter 1 and *Chapter 2 &3
Berg, A. et.al. Monetary regime options for Latin America F&D September 2003
Fischer, Stanley "Is the Bi-Polar View Correct?" IMF Occasional Paper 193 Fx Regimes
Dornbusch, R.(2001) A Primer on Emerging Market Currency Crises
7.1 1st Generation Currency Crisis Models *Mechanics of Speculative attacks (F&D, 1997)
*Agénor Chapter 8, Sachs and Larraine, Chapter 11, especially pp. 335-343. IMF WEO 1995
Flood, R. and Marion (1998) Perspectives on Recent Currency Crises, IMF WP/98/130
IMF International Capital Markets, 1997 Appendix 2 page 37 and *IMF * ICM 1995 part III.
7.2 2nd Generation Currency Crisis Models—Fixed vs. Flexible Rates:
Obstfeld and Rogoff (1996) Section 9.5. smaller file for printing
Calvo, G. & Carmen Reinhart, Capital Flows, Exchange Rates, and Dollarization, F&D, Sept 1999, 13-15.
McLeod & Welch (1993) "Costs and Benefits of Fixed Exchange Rates.." Dallas Fed Economic Review,
Dallas Federal Reserve Bank, 31-44 (or see Agénor Chapter 5 )
Roubini, N. (1998) The Case Against Currency Boards, A. Gulde, and H. Wolf, Currency Boards:
Currency Boards: the Ultimate Fix? IMF Working Paper, WP/98/8, IMF, 1998
7.3 3rd Generation Models: Banking and Currency Crisis in Emerging Markets:
Notes on Chang and Velasco *Chang, Roberto and Velasco "The Asia Liquidity Crises"
*Keller, C. et.al. "The Bottom Line" F&D Dec. 2002 summary of "The Balance Sheet
Approach to Financial Crisis, IMF Working Paper WP/02/210
Calvo, Guillermo "Balance of Payments Crises in Emerging Markets" NBER, March 1998.
7.4 Predicting Currency Crises: Kaminsky,Lizondo & Rheinhart (1998) Leading Indicators of Crises,
App & references IMFSP, 45:1, March 1998 *Mulder C. "Assessing Dangers" F&D Dec. 2002.
IMF Global Financial Stability Report--March 2002 Chapter 4 "Early Warning Systems"
IMF Fact Sheet: Vulnerability Indicators Edwards, S. (2000) "Does the CA matter?"
Esquivel, G and F. Larrain (1998) Explaining Currency Crises, HIID, processed, Boston, MA.
Salvatore, D. and Reagle (2001) "Lessons From Asia's Financial Crisis" Open Economy Review.
Andrew Berg and Catherine Pattillo (1999) Are Currency Crises Predictable?" IMFSP, 46:2,
7.5 Contagion: Kaminsky, G. & Reinhart, C. (1998) "Crises Contagion, Confusion.." [CD]
Forbes, Kristina IMF Global Financial Stability Report--March 2002 (see Box 4.2)
IMF WEO 1999 Chapter 3 Contagion Roubini Contagion Page
13. Managing LDC Debt and Capital Flows: topic list Notes on Financial Integration & Crises
*Edwards (2005) Capital Controls and Sudden Stops
Daseking, Christina "Debt: How much is too much? F&D Dec. 2002
IMF WEO (2001) Chapt 4 International Financial Integration IMF Occ Paper 190 Capital Controls
GDF 2001 *Chapt 3 Capital Flows & Growth; McLeod (1996) *Capital Flight (Encyclopedia of Economics).
*Agénor Chapter 6. *WEO 1998 Chapter 2 World Bank: Global Economic Prospects Chapter 3
Lopez-Mejia, A (1999) Large Capital Flows: Causes, Consequences and Responses, IMF WP/99/17
IMF, WEO Oct 1999, Box 2.2 "Capital Flows to Emerging Markets", pp. 62-65.
& Box 2.4 "Malaysia's Response to Financial Crisis, How Unorthodox was it?" pp. 69-72
IMF ICM, 1997 Annex VI, Capital Flows to Emerging Markets—A Historical Perspective
IMF,ICM 1998 Annex IV "Chile's experience" [CD]
Corbo and Hernandez (1996) "Adjusting to Capital Inflows: LatAm vs. Asia", WBRO, 11:1, 61-85
14. From Stabilization to Growth: Debt relief and structural adjustment
Agénor Chapter 9.4-9.5 *15.1,*15.5 and *16 return to topic list Calvo et al. 2006 Phoenix Recoveries
*Corbo, V., S. Fischer and S.B. Webb (1992) Adjust Lending Revisited, Intro [ERes]
*Dani Rodrik (1992) Trade Policy Reform in Developing Ctys, JEP,6:1,87-105
Dani Rodrik (1991) Policy Uncertainty and Private Investment in Developing Ctys, JDE,36:2,229-42.
Dornbusch, R, (1990) "Classical Macro and Stabilization" AER, 80:2, 143-47.
Dornbusch, R, (1991) "Moving from Stabilization to Growth" World Bank ABCD,
*Paul Krugman, "Reducing Developing County Debt" Revista de Analisis Econ,4:2,3-18,1989. [CD]
Kahn, M.S. & M.D. Knight (1985) "Fund Adj. Programs & Growth" IMF Occasional Paper 41.
15. The New International Financial Architecture: Old Wine in New Bottles? return to topic list
Eichengreen, Barry "Financial Instability" Essay for Copenhagen Consensus (see also comments)
IMF Singapore (2006) Crisis prevention reading list
Lukongo, Inutu "Riding out the Storm" F&D December 2002
*Miller, Marcus (2002) Sovereign Debt Restructuring, Boorman, Key Issues in International Reform
Roubini Debate on IMF and World Bank Reform *Goldstein (2002) Proposals to Reform the IFA
Swaboda (1999) Reforming International System Bergsten, Fred (2000) Reforming the IMF
*Krueger,(2002) Sovereign Debt Restructuring Mechanism (SDRM) 1 yr Later
(SDRM Factsheet) Rogoff, Moral Hazard How Big A Concern? Boorman, SDRM An Update
Eichengreen (2002) Crisis Resolution: A Krueger-Like Process, A Taylor-Like Result
Dell'Ariccia, Schnabel, Zettelmeyer, (2002) Moral Hazard and International Crisis Lending
Rogoff, J. (1999) International Institutions for Global Financial Stability, JEP, 13, Fall 1999 [CD].
Goldstein "Asia Crisis" Chapter 4.IMF, ICM 1998, page 149-51.
Rodrik, Dani (1999) "Governing the Global Economy: Does One Style Fit All?"[CD]
16. Case Studies: Case study preparation page
16.1 Was Asia's Crisis Different? return to topic list
Managing Financial Crises: the Case of East Asia (IMF 2001)
Fischer, S. 2000 Asia and the IMF Dornbush: Malaysia: Was it Different?
*Kamin, Steve (1999) The Current Financial Crisis: How Much Is New? Board of Governors,
Federal Reserve, International Finance Discussion Papers #636, Washington D.C. [CD].
Steven Radelet and Jeffrey Sachs, "The Onset of the East Asian Financial Crisis," March 30, 1998 [CD]
Radolet, S. & Sachs J (1998) Asia Crisis Diagnosis and Remedies
IMF ICM, 1998 Chapt. 3, Emerging Markets—Implications of the Asian Crisis [CD]
Salvatore, Dominick. (1999) "Lessons From the Financial Crisis in Asia".JPM, 21:3 pp. 283-288.
Dornbush, R.(1999) "After Asia: New Directions for the International Financial System". JPM 21:3, 289-310.
Stiglitz, Joseph E.(1999) "Lessons From East Asia" Journal of Policy Modeling 21:3 311-330.
Corsetti, Pesenti, and Roubini, N. (1998) "What Caused the Asian Crisis?" at the Asia crisis web page
16.2 Argentina, Brazil, Chile and Mexico in the 1990s
M. Mussa Argentina's Crisis: Triumph to Tragedy & LatAm's Economic Crisis (www.iie.com)
Edwards, Sebastian (1999) "Crisis Prevention: Lessons from Mexico & Asia" *Part 1&3 (ERes)
Eichengreen 2002 "New Lessons from Argentina & Turkey?" V. Corbo, Chile in the 1990s
Andrés Velasco and Ricardo Hausmann (2001) Argentina's Collapse..
Anne O. Krueger (2002) Crisis Prevention and Resolution: Lessons from Argentina
WDI Online database WEO Database September 2005
IMF WEO data for Russia, Bulgaria and Turkey Asia ctys LatAm ctys
Real Exchange Rate Template (use this spreadsheet to compute RERs)
Income Distribution data from the World Bank's Global Poverty Monitoring database
Case Study Template Excel file (Mexico) Sample Figures WDI Query for Case Study Data
Growth Rates: LatAm vs. Asia, Turkey and Russia during the 1990s
Mexico Primary Deficit Mexico Fiscal Sustainability Mexico Spreadsheet
Notable quotes: return to topics list
Joseph Stiglitz on the IMF "The countries that have managed globalization on their own, such
as those in East Asia, have, by and large, ensured that they reaped huge benefits and that those
benefits were equitably shared; they were able substantially to control the terms on which they
engaged with the global economy. By contrast, countries that have, by and large, had globalization
managed for them by the International Monetary Fund and other international economic institutions
have not done so well. The problem is thus not with globalization but with how it has been managed."
"Globalism's Discontents," The American Prospect v.13 no.1, January 1-14, 2002.
Rudi Dornbusch on Stiglitz:: "When countries arrive at the IMF, on a stretcher, this is not the
time for cute ideas. Drastic policies are necessary to avoid hemorrhage, currency collapse and
irreparable meltdown. Stabilization is neither a popularity contest nor a research seminar. Today
no finance minister will opt for the Stiglitz Clinic of Alternative Medicine; they have the ambulance
rush them to the IMF. And when they do, markets start taking confidence very soon and from
there it is a short step to normalization. (...) Asia is doing well. The chief lesson for the IMF is
that next time they should apply exactly the same remedies and enjoy as spectacular success."
Dornbusch 2001,letter to editor of the New Republic (full text)
Stanley Fischer, on "IMF Riots"… "I would like to mention one very important development of the
last few years, which has occurred almost without public notice, but that is very important. Up to a few
years ago, there was almost never an occasion on which bread prices, or fuel prices, were raised by the
50 or 60 or 80 percent that may be necessary when countries have failed to adjust prices for too long,
without setting off a riot. Naturally these riots would be blamed on the IMF. Well, such riots are not
necessary. You can compensate people before hand, and you can inform the public of what is being done,
why, and how they are being compensated. And as a result, we have been able to help quite a few countries,
for example Ecuador, make necessary price changes without creating what used to be called "IMF riots".
There are no doubt other areas of program design where we can help countries do better, by paying careful
attention to offsetting the social costs of economically necessary measures."
(Stanley Fischer's "Farewell to the IMF Executive Board" August 30, 2001)
Michael Bruno on Stabilization and Multiple Equilibria, "The concept of economic reform is described
as a planned shift from one Pareto inefficient, but quasi-stable, Nash equilibrium (or "trap") to a new Pareto
superior equilibrium, which will also be stable. The concept is applied to recent "shock" stabilization programs,
with special reference to Israel, where the economy was credibly shifted from a three-digit inflationary process,
with considerable inertia, to relative price stability with higher real growth, at only moderate adjustment costs,
by means of a "heterodox" plan. The idea is rationalized with a simple dual equilibrium inflation model, for
which some econometric estimates are also given." From Bruno (1989) "Econometrics and the Design of Reform"
Bacha, E. (1987) "IMF Conditionality: Conceptual Problems, Policy Alternatives" WD 15:12, 1457-67.
Cline, W.R. and Weintraub (1981) Economic Stabilization in developing countries (Brookings)
Dornbusch, R. (1982) "Stabilization Policies in Develop Ctys: What Have We Learned?" WD, 10:2.
Diaz-Alejandro, C. (1984) "Latin-American Debt: I don't think we are in Kansas Anymore" BPEA,2,335-89.
Diaz-Aleandro, C.F., (1986) "Good-bye Financial Repression, Hello Financial Crash", JDE.
Flood and Garber (1984) Collapsing Exchange Rate Regimes" JIE 17, August, 1-17.
Jolly, Richard (1991) Adjustment with a Human Face", WD,19:12, Dec.,1807-21.
Krugman, P. (1979) "A Model of Balance of Payments Crisis" JMCB,11, 311-25.
Krugman, P. and L. Taylor (1978) "The Contractionary Effects of Devaluation" JIE,8,445-56.
Sachs, J. (1985) "External Debt and Macroeconomic Performance" BPEA, 2, pp.523-574.
Taylor, Lance (1988) Varieties of Stabilization Experience (Oxford Univ Press, NY)
Office Hours and Course Requirements return to topics
Course Description: return to topics
This course examines how developing countries prevent, manage and recover from currency, debt
and financial crises. What makes emerging market countries particularly vulnerable to these crises?
What are the special macroeconomic constraints faced by less developed countries? How can
vulnerable groups be shielded from the worst effects of downturns using transfers, safety net
programs and a more equitable mix of adjustment policies? Can developing countries come to
"own" adjustment and reform programs instead of relying on the "one size fits all" approach
favored by the IMF and World Bank? Are open capital markets and local banks and financial
markets worth the risk? What have the IMF and developing countries learned from the numerous
crisis of the 1990s? Students of this course will become familiar with the special challenges of
designing and managing macroeconomic policy in developing countries.
Recommended, Background Reading and Reference: return to topics
Bruno, Michael et. al. eds. (1991) Lessons of Economic Stabilization and After (MIT Press).
Cardoso, Eliana and Ann Helwege (1992) Latin America's Economy MIT Press, Cambridge MA.
Obstfeld M. & K. Rogoff (1998) Foundations of International Macroeconomics MIT Press.
Frenkel and Razin (1996) Fiscal Policy in the World Economy 2nd ed. (MIT Press)
Corbo, V., S. Fischer and S.B. Webb (1992) Adjustment Lending Revisited:
Policies to Restore Growth, World Bank Symposium,
Dornbusch, R. and F.L. Helmers (1988) The Open Economy: Tools for Policy Makers in Developing
Dornbusch. R. (1993) Stabilization, Debt and Reform, Prentice-Hall, NJ.
Dornbusch, R. ed. (1993) Policymaking in the Open Economy,Oxford University Press.
Haggard,S. and S. Webb (1994) Voting for Reform: Democracy, Liberalization & Adjustment (Oxford)
IMF, International Capital Markets (ICM) various issues, IMF Washington D.C.
IMF, World Economic Outlook (WEO), various issues, IMF Publications, Washington.D.C.
Mills, Cadman A. and R. Nallari (1992) Analytical Approaches to Stbz & Adjust, EDI Paper #44, WB.
Taylor,Lance (1988) Varieties of Stabilization Experience (Oxford University Press)
World Bank (1997) Private Capital Flows to Developing Countries, (Oxford University Press).
You may find the following sites useful for preparing your case study:
IMF IFS Online: A wide range of financial and monetary time series for almost all countries.
IDB Statistics Page:includes data on trade, social indicators, debt etc. for almost all LatAm ctys.
IDB Research Page: this InterAmerican Development Bank page includes issues of IPES—
an annual "Economic and Social Progress" report on LatAm.
IMF Home Page: Just type a name into the country information box at the bottom of the page…
IMF Publications: Many of these working papers and WEO-ICM publications are available here—
see especially Finance and Development For useful research summaries and book reviews.
IMF DSBB Pages: Standardized country data pages sanctioned but not provided by the IMF—
a source for more up to date data or alternative local perspectives on crisis and IMF programs.
World Bank Data Page: A wide range of country data—the Cairo data set included on the
CD comes from the growth research page
World Bank Growth Research Page This page provides many useful papers and data sets—
see especially the new Global Development Network database—included on your CD as
HIPC Web Page: A number of African countries plus Bolivia, Nicaragua and Honduras
are HIPCs (highly indebted poor countries).
BPEA: Brookings Papers on Economic Activity
CPI: Contemporary Policy Issues (became CEP)
CEP: Contemporary Economic Policy
JDE: Journal of Development Economics
JEG: Journal of Economic Growth
JEL: Journal of Economic Literature
JEP: Journal of Economic Perspectives
JIE: Journal of International Economics
JMCB: Journal of Money, Credit and Banking
JME: Journal of Monetary Economics
JPE: Journal of Political Economy
PUP: Princeton University Press
QJE: Quarterly Journal of Economics
WB ABCDE Annual Bank Conference on Development Economics
WBER: World Bank Economic Review
WBRO: World Bank Research Observer
Goldstein, Morris (1998) The Asian Financial Crisis, Institute for International
Economics, Policy Analyses in International Economics #55, Washington DC
Eichengreen, Barry (1999) Toward a New International Financial Architecture
Inst for International Economics, Wash D.C. (www.iie.com)
Agenor, Pierre-Richard and Peter Montiel (1999) Development Macroeconomics 2nd Ed, PUP.
de Vries, Margaret G. (1987) Balance of Payments Adjustment, 1945-86, IMF, Washington DC.
Boughton, James (2002) The Silent Revolution: the IMF 1979-1989 (IMF, Washington D.C.)
Frankel & Razin (1996) Fiscal Policies & Growth in a World Economy, 3rd ed. MIT Press (F&R)
Dornbusch, R. and F.L. Helmers (1988) The Open Economy:
Tools for Policymakers in Open Economies,Oxford University Press.
Dornbusch. R. (1993) Stabilization, Debt and Reform, Prentice-Hall.
Dornbusch, R. ed. (1993) Policymaking in the Open Economy, OUP
ECGA-5450: Crises, Adjustment and Poverty in LDCs (formerly Stabilization Policy) Fall 2012
Course requirements: The midterm and final exam account for 70% of the course grade (25%
and 45%). Several problem sets, participation in the class IMF-DSK debate, and a brief crisis case
study/presentation counts for the remaining 30% of the course grade. The weight of the take-home
midterm can be reduced if students present their case studies to the class for further discussion.
Course Description requirements Walsh Library Reserve List Commanding Heights Episode 3 Stabilization classic quotes
Office Hours in E-527 Dealy: Wed 4:30 to 6pm and 9:30-10:30pm and appointment:
please confirm office hours by email the same day if possible, firstname.lastname@example.com.
If I am not in my office call 914 661-6998 (cell). Check my web page for updates, travel
etc. Thank you.
Recommended PhD: Agénor, Pierre-Richard (2004) Adjust & Growth 2nd edition
(not 1st edition) Harvard Univ Press, 0674015789 Introduction (PhD students: same
Book as in ECGA 6470 Growth and Development)
Agénor, Pierre-Richard and Montiel (2010) Macroeconomics for Developing Countries
3rd Edition, Princeton University Press. See chart below for prices, formats.
Recommended Masters: Sachs J.G. & F. Larraine (1992) Macroeconomics in a Global Economy,
Prentice-Hall. (S&L) Chapters 6 and 20-23 provides good and at times unique
review of open economy macroeconomics with a focus on LDCs


text:
PDF: The full Ochs Center 2010 report
Report definition
The State of Chattanooga Region Report 2010 was compiled by the staff of the Ochs Center for Metropolitan Studies. The center has compiled such reports every two years since 2006. This report shows data for the Chattanooga metropolitan statistical area, which includes Hamilton, Marion and Sequatchie counties in Tennessee and Dade, Walker and Catoosa counties in Georgia. Crime data is collected through the FBI uniform crime report's annual numbers, the Tennessee Bureau of Investigation Tennessee Incident Based Reporting System, Chattanooga Police Department, Hamilton County Sheriff's Office and the Tennessee Department of Correction and Georgia Department of Corrections.
In a single year, Diana Gregory became a crime statistic three times.
Twice at her antique shop in downtown Ringgold, Ga., — Gregory's Antiques and Interiors — employee wallets were stolen from behind the counter.
And last week, someone broke into her home in Ringgold.
"You feel so violated," she said. "It was hard to sleep after knowing someone had been in [my] house."
While Gregory — who has lived in the city for 27 years — says she normally feels safe in Ringgold, a report released today shows the area has a high crime rate for its population size.
The State of Chattanooga Region Report 2010: Public Safety shows Ringgold has one of the highest crime rates per 100,000 residents compared with the other regional cities in the study, including Chattanooga. The crime report was released by the Ochs Center for Metropolitan Studies, which gathered state and federal crime data reported since 2005 for Chattanooga's metropolitan statistical area, which includes counties in Tennessee and North Georgia.
Along with Ringgold's, the highest crime rates per 100,000 residents in the Chattanooga MSA were in Chattanooga, East Ridge, Kimball and Rossville.
"I'm very surprised by that," said Ringgold interim police Chief Wilborn Dycus. "Some of it is the growth in population."
Property crime accounted for most of the offenses in Ringgold, which had 14 reports of violent crime and 178 reports of property crime in 2008, according to the report.
Overall in North Georgia, the study looks at crime in Dade, Walker and Catoosa.
With a population of more than 61,000 people, the unincorporated areas of Catoosa had 74 violent crimes in 2008, compared with 40 in 2003. In 2008, there were 1,131 property crimes in the areas, compared with 1,051 in 2003.
"There's no question with the economy we have seen an increase in property crime," said Capt. Scott Jordan with the Catoosa County Sheriff's Office. "I look at every report the office generates and look at where we are having the most problems and try to focus the most resources on those issues."
The majority of the property crimes in Catoosa were thefts, he said, the sheriff's office has seen an increase in automobile break-ins this year. Most of the burglarized vehicles were at residents' homes, he said.
In Fort Oglethorpe, police Chief David Eubanks said neighborhoods and local businesses also have been targeted in vehicle break-ins. But based on interviews with suspects, Eubanks said he thinks the increase is related to drug abuse and not the economy.
"I can't remember anyone ever saying they broke in because [his] children were hungry," he said.
Walker County, which has a population of more than 54,000, had 287 violent crimes and 1,120 property crimes reported in unincorporated areas in 2008.
House break-ins are the largest sector of property crimes in the county, said Walker County Sheriff Steve Wilson. But the number of property crimes reported decreased from 2004 to 2008, when it began to increase slightly, he said.
"We've remained relatively steady in the last 10 years," he said.
Because the northern part of the county has the largest population, that's where the most crime occurs, he said.
In Dade County, only one violent crime was reported in the unincorporated area in 2008, while 197 property crimes were reported, reports show.
"Luckily, we're a small community and don't have violent crime," said Maj. Jackie Womack with the Dade County Sheriff's Office.
Because most of the calls to the sheriff's office are for property crimes and wrecks along the interstate, deputies can focus more resources on petty crimes, he said.
To combat property crime, North Georgia police say they have incorporated neighborhood watch programs to get residents involved. The residents organize the programs and the sheriff's office sends an officer to teach them about crime prevention, Catoosa's Jordan said.
"We [also] check on people's home when they're on vacation," he said.
Police also say they stress patrolling in the neighborhoods. Such police work is "the old-fashioned, getting out and knowing the community" process that works to stop crime, Wilson said.
In Ringgold, Dycus said an officer is assigned a specific area to patrol each night.
"We feel like it's a safe community to live in," he said.
Continue reading by following these links to related stories:
Article: Grocery store deserts
Article: Education spending gap persists statewide
Article: Report says Ooltewah, Harrison Bay county's fastest-growing areas
Joy Lukachick Smith is the city government reporter for the Chattanooga Times Free Press. Since 2009, she's covered crime and court systems in North Georgia and rural Tennessee, landed an exclusive in-prison interview with a former cop convicted of killing his wife, exposed impropriety in an FBI-led, child-sex online sting and exposed corruption in government agencies. Earlier this year, Smith won the Malcolm Law Memorial Award for Investigative Reporting. She also won first place in ...
Most of the crime based on money or you can say people attempt crime 10 out of 7 in case of money. One way to stop crime is increase job opportunity in that particular area. This will definitely effect crime rate. https://www.facebook.com/Steamlite

subset: commoncrawl


text:
Financial / Mortgage Advisor (OTE Up to £100K)
Financial / Mortgage Advisor (OTE Up to £100K)
Home/Field Based (covering the South-West)
OTE £75,000 - £100,000 (Commission Only)
Are you a financial advisor with a desire to learn? Want to earn great commission with a well-established company offering full training? If so, look no further.
A superb opportunity has arisen for a Financial / Mortgage Advisor to join Openwork, the largest multi-tie network in the UK, backed by global insurance giant Zurich.
If you're hard-working, confident and looking for an exciting opportunity to set up your own franchise or work for an existing franchise or business, read on.
As a Financial / Mortgage Advisor, you will be providing advice to clients regarding mortgages, life insurance, general insurance, and if qualified, pension and investment products.
Operating in a risk free environment with significant financial backing, you'll have the chance to increase your earnings year on year, as well as develop long standing client relationships under a trusted national brand.
Interested? If so, you must have:
- At a minimum, one year's experience of providing regulated financial advice
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Highly motivated, as a Financial / Mortgage Advisor, you must have confident communication skills and a personable approach. The ability to work on your own initiative is also key.
To apply for the role of Financial / Mortgage Advisor , please apply via the button shown.
This vacancy is being advertised by Web Recruit Ltd. The services advertised by Web Recruit Ltd are those of an Employment Agency.
Additional Keywords: Financial Advisor, Mortgage Advisor, Protection Advisor, Self Employed Protection Advisor, Mortgage & Protection Advisor, Sales Advisor, Trainee Protection Advisor, Mortgage Advisor, CeMAP.
Job Type : Permanent
Location : Bristol, Bristol, BRISTOL
Salary : OTE £75K-£100K Commission Only
Date Advertised : 19 Dec 2012
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Also called diverticular disease, diverticulosis happens when small pouches, called diverticula, bulge outward through the colon. This becomes more common as people get older, and about half of all people over age 60 have it. Physicians believe the main cause of this condition is a low-fiber diet.
Most people with diverticulosis don t have symptoms, but the condition can cause mild cramps, bloating or constipation. A high-fiber diet and medications to reduce colon spasm will often relieve these symptoms.
If the pouches become inflamed or infected, the condition is then called diverticulitis. The most common symptom is abdominal pain, usually on the left side. If the diverticula are infected, patients can also have fever, nausea, vomiting, chills, cramping or constipation. In serious cases, diverticulitis can lead to bleeding or blockages or even perforation (puncture) through the bowel wall. Treatment focuses on clearing up the infection with antibiotics, resting the colon and preventing future problems.
Digestive Health Additional Resources
National Digestive Diseases Information Clearinghouse: Diverticulosis and Diverticulitis
MayoClinic.com Dietary Fiber Information
Medline Plus: Diverticulosis y diverticulitis
Medline Plus: Diverticulosis and Diverticulitis
National Digestive Diseases Information Clearinghouse: Diverticulosis and Diverticulitis
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text:
Stare deep into my buttchin
Aquafina* is good. But that Fiji shit. Ugh. All warm and heavy as if mixed with semen from islanders.
*I guess it was Aquafina not Dasani I was thinking out. Can't recall Dasani. Fuji is still gross.
Last edited by lehorne; 12-19-2012 at 07:18 PM.
All bottled water: bad.
Except at Coachella. Where environmentalism takes a vacation like everything else in my world.
11/28: Dixon @ TBA
12/1: Angel Olsen, Kevin Morby @ GAMH
12/6: Dream Police @ Brick and Mortar
12/12: Ancient Methods @ Mercer
12/13: RRose, Carlos Souffrant @ TBA
12/17: Sleepy Sun @ Brick and Mortar
I wash my dick with sheep's milk.
My shaft pubes are invigorating enough on their own. Next.
2014 Collaborative Playlist on Spotify.
His sweater is almost as bad as his chin. Almost.
Speaking of fucking chins, can you get banned for showing pubes in a photo? Both sexes, but I was leaning towards men actually.
Dasani? Nasty ass salt water.
Whiskey Sour
2 oz blended whiskey
Juice of 1/2 lemon
1/2 tsp powdered sugar
1 cherry
1/2 slice lemon
Shake blended whiskey, juice of lemon, and powdered sugar with ice and strain into a whiskey sour glass. Decorate with the half-slice of lemon, top with the cherry, and serve.
What if said chin could be confused with a hairy butthole? Is that ban worthy?
lulz... "is this the pleasure model"
2001, 2004, 2007, 2009
2013 EDM wishlish (please):
classixx, stanton warriors, logistics, jefr tale
spencer & hill, bent, eric prydz, mike realm, nick thayer
kruder & dorfmeister, young punx, phonat, treasure fingers
Kraak & Smaak, sergio & benoit, kris menace, bassjackers, DJ Craze
DIGITALISM, knifeparty, chemical brothers, bassbintwins, seth troxler


text:
United Way of Allen County's 211 services have expanded into six new counties in northern Indiana, including Kosciusko, according to officials.
The service is the national dialing code for free, confidential 24-hour access to more than 1,800 local health and human services, such as housing, shelter, food, legal aid, clothing, counseling, utility assistance, health care, transportation and more.
Allen, Adams, DeKalb, Noble, Steuben, Wells and Whitley counties already use the system, which will now include – in addition to Kosciusko – Elkhart, Fulton, LaPorte, Marshall and St. Joseph counties.
The service, which is supported by Lutheran Health Network, is available to 1.9 million Hoosiers, according to officials.


text:
On a warm and humid June morning, local representatives, law enforcement officials and an array of press reporters converged on a float alongside the town dock to describe legislation designed to protect boaters, which was successfully passed in the New York State Legislature. Town of North Hempstead Supervisor Jon Kaiman hosted the presentation. The keynote speakers who shepherded the legislation were Assemblyman Thomas DiNapoli and State Senator John J. Flanagan. If Governor Pataki signs the legislation as anticipated, it will take effect after 30 days of his signature.
The main purpose of this important legislation is to equate the unfortunately increasingly common vice of Boating While Intoxicated (BWI) with its terrestrial counterpart, drunk driving. Currently, convictions of BWI yield gentler sentences than those of DWI; but this legislation aims to change that, rendering the offenses equally intolerable in the eyes of the law.
"Boating while intoxicated is as serious as driving while intoxicated and the penalties need to reflect that fact," commented Senator Flanagan. "This bill will give marine law enforcement and prosecutors the necessary tools to maintain an aggressive posture against BWI violators," said Assemblyman DiNapoli. Senator Flanagan and Assemblyman DiNapoli began their joint crusade toward bringing equivalence to the two crimes in 2003 when they united to successfully lower New York State's blood alcohol content standard for BWI from .10 to .08. Their latest achievement is sure to take another, even greater step in the direction of this goal.
"Too often people plan a day of boating which includes alcohol. Sadly, they don't stop to think that BWI has the same lethal potential as DWI," said Marge Lee, the president and co-founder of Drive Educated Drive Informed Commit and Totally End Drunk Driving (DEDICATEDD). Lee applauded Senator Flanagan and Assemblyman DiNapoli for sponsoring this legislation saying "We thank them for their determination and tenacity on this issue."
The legislation, much like legislation against drunk driving, aspires to inhibit the practice of intoxicated boating by means of stern punishment. Under current law, the penalty for the first conviction of BWI is jail time of up to 90 days, the fine within the range of $350 to $500; the new legislation will raise the possible jail time to one year and the fine to within $500 to $1,000. Subsequent convictions within 10 years can lead to fines up to $10,000 and jail sentences up to seven years. This legislation offers relative retribution to offenders of Boating While Ability Impaired (BWAI) as well, raising the fines of first-time lawbreakers from the maximum of $350 to $500. Repeated transgressions also render lengthier prison sentences.
Nassau County Police Officer Richard Korzenko has been assigned to the Marine Unit for over 20 years. Korzenko said he wished boaters took the same amount of time to bring their safety equipment on board as they do their fishing equipment, lunch and other personal items. He emphasized the most important aspect of boating is having the right safety equipment on board which has been checked to make certain it is functioning properly. Including one the most important things to have on board is a cell phone. Boaters needing police assistance can call 911 on their cell phones and the police have the ability to trace the call to the location of the incident. Police assistance is also available on the emergency channel # 16 frequency. Officer Korzenko said the most dangerous act for passengers on boats is 'bow riding.' A bow rider is one who either stands or sits on the bow of the boat; sitters often ride with their legs dangling over the side. He recalled one tragic incident several years ago when a youngster was bow riding, thrown in front of the boat and killed after leaving a waterfront restaurant. Nassau County Police Sergeant John Dalton supervises enforcement on Nassau County's waterways and welcomes this new legislation. Dalton recalled the incident last summer when a young man on Jet Skis was decapitated in a boating incident where alcohol played a role.
In his novel, The Great Gatsby, F. Scott Fitzgerald called Manhasset Bay a 'courtesy bay,' which opened to 'the most domesticated body of salt water in the Western hemisphere, the great wet barnyard of Long Island Sound.' Mallory Nathan is the veteran chief of the North Hempstead Bay Constables and is well aware of the hazards of boating in the often calm waters Fitzgerald describes. Nathan cautioned boaters that the affect of drinking alcoholic beverages is often 'magnified' by the sun, wind and water. He recalled the marine alcohol-related accidents of the past when boaters struck other boats, buoys and ran aground. Some became confused and lost their sense of direction. He advised boaters that the town's policy was one of zero tolerance and that the bay constables intend to enforce that policy.
Hopefully, this fruit of the work of Senator Flanagan and Assemblyman DiNapoli will deliver favorable results to a community well aware of the tragedy BWI can cause. Denna Cohen, president of Mothers Against Drunk Driving (MADD) on Long Island cautioned boaters saying, "Enjoy your boat and the summer and don't drink and boat or drive. Be the life of the party, not the death of it."
(Editor's note. Mr. Sean Manzione, interning as a reporter with Port News this summer and entering his senior year at Chaminade High School in Mineola, contributed to this article.)
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First, you can read through this FAQ guide. The myFCC site also has a built-in help system. Once logged into the system, click the Help link in the top-right of the window. The file storage portion of the site has its own Help system. To access it, click on the Help link within the file storage window frame.
If you are unable to find the answer to your question online, you may submit your question via the online help form here or visit the Student Technology Services in H-214
myFCC requires changes to the Pop-up Blocker and Trusted sites settings in your web browser.
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myFCC is accessible from any web-enabled computer on the Internet. From all locations, use the same web address, http://myfcc.frederick.edu
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text:
In this section
The IB teacher awards
Level 2 award
Courses of study recognized under the IB teacher award, level 2, include:
|Flinders University
|Adelaide, Australia
|Master's degree in Advanced Study in Teaching and Learning (ASTL)
|George Mason University
|Virginia, USA
|Masters of Education in International Education
|Murdoch University
|Perth, Australia
|Masters of Education (International Baccalaureate)
|University of Melbourne
|Melbourne, Australia
|University of Bath
|Bath, UK
** Subject to legal agreement.
NB: The level 2 award is not programme-specific.
Please also see university announcements on the "find a course of study" page for details of events/activities that are taking place at universities worldwide in relation to the IB teacher awards initiative.
The course recognition process
For a course of study to be recognized by the IB as meeting the requirements of the level 2 award a university must have demonstrated that it will enable participating students to further develop their critical understanding of one or more IB programmes through engaging with the relevant educational research and theory.
Courses of study linked to the level 2 award must be at master's level or above and have a strong focus on systematic and rigorous educational inquiry. Such courses require participants to ground their investigative work in issues relating to international education and reference one or more of the IB programmes. Participants will be expected to identify their own areas of inquiry within the context of their practice.
The scope of the areas of inquiry must meet the following three broad principles.
- Both the conceptual understandings and the methodologies used in all inquiries must be assessed against criteria associated with study at master's level or higher.
- All inquiry must be grounded in issues relating to international education with reference to one or more of the IB programmes.
- Inquiries undertaken should include a significant proportion (50% or greater) of investigation into the participant's own teaching or school context.
Read more
- Purpose of the award
- Benefits of the award
- Award eligibility
- Recognized university courses
- Application and registration


text:
By Michael Alan Goldberg Perhaps you have seen that in addition to the T-shirts, hoodies, posters, and brass boat necklaces (?) found in their online merch section, Sigur Ros has introduced their "Vardeldur candle" for the princely sum of $23.50. The site describes its scent thusly: The smoky, sl ... More >>
Image viaEscolar: Goes well with grilled asparagus, a four-pack of Charmin and a stack of magazines.In this week's review of Farmhaus (3257 Ivanhoe Avenue; 314-647-3800), I praise chef Kevin Willmann's poached Hawaiian escolar.However, I do issue a parenthetical caution about escolar, in general: ... More >>
Unreal uncovers the dark side of the drunk-dial, sips some warm beer (blargh), considers buying a (tiny) yacht and checks in on a design intern at the Post-Dispatch.
And the syntactical strike force
Like escolar? This, too, shall pass -- faster than you think


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UFC Champ Ronda Rousey Cast for 'Athena Project' and 'Entourage' Movie
[Warner Brothers] is in final negotiations to acquire rights to New York Times bestselling author Brad Thor's "Athena Project" with Rousey attached to star, and it's also tapped her for one of the female leads in the upcoming "Entourage" movie.
Rousey is currently training for her next fight: On Feb. 22 she will defend her title against Sarah McMann at Mandalay Bay in Las Vegas. Rousey will begin shooting her role in the "Entourage" movie in mid-March.
It is unknown what she will do following the "Entourage" shoot since her next fight following McMann has not yet been set. But as "The Athena Project" is still looking for a writer, it's likely that Rousey will be back in the gym prepping for her next bout.
While the "Entourage" gig gives Rousey a recognizable property through which to get noticed for her acting, "The Athena Project" could give her a possible franchise and perhaps the chance to become the female action star Hollywood is lacking.
The story follows a top secret, all-female Delta Force counterterrorism team code named the Athena Project that is sent in to hunt and kill a master terrorist after a bombing in Rome kills 20 Americans. Trouble ensues once the team realizes there's more at play than a simple bombing.
Sources say Rousey fell in love with the book and also quickly clicked with author Thor, attaching herself to the project before it even had a studio involved. After the studio approached her reps about doing the "Entourage" movie, the studio was also interested in other things she may want to work on given the great word of mouth from "The Expendables 3″ and "Fast and Furious 7″ shoots.
That's when "The Athena Project" was brought up; the following day, the studio put in a bid for the novel. Warners sees the property as a potential franchise that could appeal to both men and women. SOURCE
This is big news for Ronda Rousey. Just this week ex-MMA women's fighter Gina Carano made a guest appearance on Fox's Almost Human. Carano was also the lead in Haywire, was in last year's Fast & Furious 6 and even had some of her fans wanting her name to be in the running for Wonder Woman (Really glad that didn't happen). So it's no real surprise that women's MMA's biggest star, Ronda Rousey, would be on the radar's of film studios. She's already scheduled for appearances in Expendables 3 and Fast & Furious 7. I don't expect Ronda to go full throttle into acting like Carano did because Ronda's having so much success in the UFC AND she's getting rewarded for it very well. When Carano left MMA, it was basically because woman's MMA was in it's infancy and there were more lucrative avenues outside of the cage. Still, it will be interesting seeing how Ronda will do in these roles. As much as she's been focusing on it and improved, Carano's acting is still very limited. But she's great in action sequences so there will always be demand for her. But Rousey is known more for his Judo and not her striking, so it'll be interesting to see if she has as much success as Carano does. Plus, with her not really focusing on it, I don't see her making any significant improvements in acting until she moves away from MMA. But who knows, maybe she's a natural at acting and will surprise us all.
All that aside, The Athena Project actually sounds pretty cool. Sounds like a more serious all-female Expendables and I'm here for it. I know sexism is alive and well with folks saying this kind of movie won't have wide appeal over the gender lines but I disagree. If it's good and it has ass kicking in it, men will watch just as much as women will.


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NIKE FREE 5.0 [new york]
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16 Sep 2013
ella bannatyne [mullumbimby]
hello pi, peter, peter issobelle, tuk tik, charly and every one else
just want to say thank you for the lovely time me and my family had. we came about three months ago. my mum always talked to pi and my brother and i hung with the dogs and Always swam in your pool
xox ella
13 Sep 2013
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Following two speeches and time for lunch, the Governor's Job Summit continued on with a series of seven afternoon breakout sessions. As with the morning sessions, the afternoon sessions focused on vital economic issues.
Lieutenant Governor Yvonne Prettner Solon led a panel on infrastructure for the 21st century, where panelists talked about the need for expanded broadband access and continued investment in transportation infrastructure. Panelists and attendees agreed technology is key to make sure our state stays ahead of the curve and is equipped to handle all of its infrastructure projects more efficiently and intelligently.
Sessions on creative careers, workforce solutions, and employment inequality all offered great insights on the future shape of Minnesota's workforce. With entrepreneurs, creative agencies, and freelancers increasingly making Minnesota home, the understanding of employment may need to expand beyond just jobs to fall under the broader concepts of work and income. The session on workforce solutions served as a forum to talk about how to educate our students earlier and with more clarity about their career options. The third session focused on the need to invest in less fortunate communities to close employment disparities.
Minnesota Department of Revenue Commissioner Myron Frans was joined by a panel of public officials, economists and business people, who talked about how the tax system can be made simpler, fairer, and more competitive.
And finally, exports were discussed as an incredibly important piece of Minnesota's economic growth in the coming years, as much rapid business growth continues to come from outside of the United States.
Across all of these sessions, enthusiasm and passion were noticeable in the participation of the attendees and their engagement with panelists.
© Copyright 2011 - State of Minnesota.


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A racist term for first nation's people. Used espicially in Canada where there is a large population of first nations people. Nate abbrv. of native which alos a word used to describe first nations people.
Hey look at the nate dog over there, don't mess with him.
by mos def and talib kweli are blackstar March 10, 2005


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I, Corigliano
The BSO performs one composer's commentary/celebration of the decline and fall of the American Empire
John Corigliano's frame of reference for his grandly immersive orchestral composition-qua-commentary on American society begins around 100 A.D. with three Latin words: panem et circenses. Translation: "bread and circuses." It describes a mindset that came to be around the peak of the Roman Empire. In large part, its people had given up on politics. They had chucked being involved in the empire's crude democracy in favor of bread and circuses, cheap and base amusement. Politicians handed it out in exchange for complacency. Economic collapse ensued and, as the cowed population watched the circuses and ate the bread, the empire fell. Enter the Middle Ages.
Rome's Circus Maximus held 250,000 people at its peak--one-quarter of the city's population watching Roman civilization's reality TV, which, in large part, consisted of people dying brutally in chariot races. To Corigliano, the Circus Maximus isn't over. In fact, it's just getting started again. The last episode of Jersey Shore got almost 5 million viewers; American Idol nearly 20 million viewers. Reality TV--and with it, the quick-hit ADD nature of the internet--are, to Corigliano, the panem et circenses of the modern American Empire.
Does that mean America is heading toward the end of its empire? "Yeah, I [think so]," Corigliano says by phone from his New York home. "When Rome was suffering, the politicians kept the entertainment going to divert the populace. [There's] no question that our entertainment is diverting us from thinking that something can come into a city with a briefcase and blow us all up."
Corigliano's 40-minute piece, Circus Maximus, is both his commentary on and celebration of that channel-clicking, web-surfing, American-idolizing culture that the country has embraced with open arms. Twenty million people is almost seven percent of the U.S. population watching one channel of hundreds. Rome's Circus only drew 25 percent of the eternal city's population, but it was the only game in town. America could already be much farther down the spiral.
And such a bittersweet spiral that is: Circus Maximus is both commentary and celebration. It's quite fitting that the Baltimore Symphony Orchestra is performing the piece: Conductor Marin Alsop is one of the more forward-thinking leaders in classical music, encouraging both bold and diverse programming--and the shattering of the historically well-reinforced wall between audience and performer that exists in the symphony. ("Marin is the future of classical music," Corigliano confides.) Circus Maximus doesn't just break down that wall, it out and out tramples it.
For the piece's performance the orchestra is broken up into three different broad sections: one is onstage, the second surrounds the audience, and a third performs within the audience as a sort of marching band. There are eight suitably quick movements, ranging from long periods of tranquility to a section of jarring starts and stops, simply called "Channel Surfing."
"You hear a click and there's one kind of music," Corigliano says. "And then another click in the middle of the phrase." The section continues on that like that, bouncing between ideas and modes in a whiplash fashion that television viewers are very used to now.
"We have little remotes in our hands and one or two things are happening," he continues. "We're used to having short things, sound bites, and changing from one to another rapidly. It has changed young people. Their brains are wired differently. Channel surfing is just an example. It's really amazing to see entertainment change to people's courts, American Idol, putting seven people against seven people."
There is no way not to take it as a condemnation, at least in part. Corigliano is rubbing the audience's face in it: The composition is baldly representational. The second movement is titled "Screen/Siren"; the titular sixth movement is a chaos brewed from all of the other movements, and the forth and fifth movements are titled "Night Music." In other words, Circus Maximus captures what we are--and what we've lost.
At the same time, the composition buys wholesale into the quick-hit/tabbed browsing/iPhone world. Corigliano is, after all, adapting a style of music that stands at the opposite pole of what he's protesting into that chaotic breathless world. "It's exactly what it is," the composer replies abruptly when asked if this is a celebration of ADD culture. "It's commenting and celebrating. I love the technology. I have my iPhone and my computer. On the other hand, I'm also overwhelmed by it and see the road it's taking me down. Times have changed. People don't pick up the telephone anymore. They type to each other. I think that is very strange."
And what is the biggest thing we, as a culture, have lost? "Tranquility," the composer replies. "The pace of our life has made it impossible for us to think about only one thing. You mind is constantly worrying. [Our] age is much more prone to this kind of thought."
It is a kind of thought that Circus Maximus would seem to concede to, but it is a trade that Corigliano is willing to make. "I think that is a big part of it," he says. "You don't want to play Beethoven. The new pieces composed should try to change the relationship [between audience and orchestra], find ways to break that."
Circus Maximus ends with a shotgun report. It is a signifier for hope. Hope that we can once again find our calm? Hope that the empire dies painlessly? It's uncertain. Perhaps it is just meant to be an introduction to the end of panem et circenses, a final blast as the old empire dies. "With the shotgun," Corigliano notes, "everything changes."
Cirque de la Symphonie and the Baltimore Symphony Orchestra at the Meyerhoff Symphony Hall, March 11 (3/12/2010)
My Favorite Things: Song Cycles by Great Composers rescheduled (2/4/2010)
Theresa Bickham (2/3/2010)
The Towson University voice teacher and soprano talks about little-performed 20th-century voice works
In a Lonely Place (8/4/2010)
Montreal's Arcade Fire shows its American roots on new album
The Short List (8/4/2010)
Soft Core (7/28/2010)
A defense of a different live music experience
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A Terrorist In Conservative Clothing
Tuesday night I watched the second Hagan-Tillis debate. Much like the first it was substantially a disappointment. It was mostly a replay of the commercials and mailers that have dominated communications in North Carolina the past few weeks. Late in … Continue reading
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Republican Reality Sucks
Kansas is a deep red state. Its Senate is 32-8 Republican and its House is 92-33 in favor of the GOP. Tea Party/Republican Sam Brownback rode the 2010 wave into the Governor's mansion and was part of what I called … Continue reading
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The Enshrinement Of Franklin Delano Roosevelt
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I'm a bit behind on my reading of wine news, but as I was catching up this evening I stumbled across this nice article reporting on the environmental impact of wine production. Of course, like all industries, it's impossible to imagine wine production to be a zero-impact or even low-impact business when it comes to the environment. Here in California we've heard more than once about the detrimental effects that large scale wine production can have.
But what about smaller productions, we might say to ourselves? A mom and pop winery, maybe in the Old World -- they can't pollute that much, can they?
That was precisely the question that a group of researchers from the University of Palermo and a cooperative winegrower named Saverio Lo Leggio decided to answer. Lo Leggio owns and operates a Sicilian winery named Milazzo, which produces about eight thousand cases of wine each year. In the interest of science, and with a good conscience, Lo Leggio allowed researchers to track and measure every aspect of his wine production for two years in an attempt to quantify exactly how much waste, pollution, and other environmental effects were created by his small operation.
The results were somewhat surprising. Each year, his operations generated more than 25,000 pounds of plastic waste, 12,500 pounds of paper waste, tens of thousands of gallons of wastewater, and more than three thousands pounds of sulfur dioxide gas, among many other byproducts.
That's a lot of waste, and he didn't even have hundreds of diesel burning helicopters flying around to keep his grapes from getting damaged by frost.
Lo Leggio has already been able to take many measures to drastically reduce these numbers now that he knows they exist, and is working to wipe some of them off the map, through wastewater reclamation, and more.
It's heartening to see studies like this and winemakers willing to explore the possibilities for lessening their impact on the environment. Of course, winemaking is pretty innocuous compared to say, manufacturing computer chips, but every little bit counts. And of course, it makes for good PR.
Great link! We should be looking in that direction, rather than worrying about what to do to make wine taste more flavorful with oak chips (which probably has an envirnomental impact as well).
Hi Alder
I think that all over the world the trend is to use smaller amount of chemicals because better techniques and machines allow it.
On the other hand, one negative side for the ecology is the fact that large areas areas in some wine regions have been turned excessively to monoculture.This is the case in Champagne where such monoculture allows pests and weeds to proliferate and will encourage in return the systematic use of chemicals.
Winemakers with a passion should be concerned about their impact, much as my grandfather would rotate his crops to avoid burning out the land, I think that family producers are a bit more aware of their impact on the future.
Most California wineries are already required to reclaim waste water. And 25,000 lbs of plastic waste?! I'm a really small producer (800 cases crushed this year) and I'm trying to figure out where I would use an equivalent amount of plastic, let alone create an equivalent amount of plastic waste. With companies and organizations like Kendall-Jackson and the Lodi-Woodbridge Winegrape Commission leading the way in biodynamic and sustainable agriculture practices, the California wine industry is probably much lower impact than many other wine regions. Not that there isn't always room for improvement!
Good question on all that plastic. I can't imagine what they were using all of that for. The sulfur emissions issue shows how interrelated all of this is as they actually come from the factory that produced the products, not from the winery itself. So who is the real polluter? Sulfur products are used by biodynamic and low impact wineries, but there is no real alternative. Water reclamation is a big issue for us as we are water poor at our site. We are investigating equipment, but so far most solutions seemed designed for a far larger facility than ours and our cost prohibitive for a small winery.
Great post, Alder! You certainly touch on a topic that needs a lot more thought and discussion here in wine country.
Great piece on the environmental impacts of the wine industry. We do need to be more aware. Suprisingly enough, there are many regulations that the wineries have to comply with these days, but so many aspects that we never think about, i.e. overall waste generated during the course of a year.
I have to admit, I am a long time reader and first time blogger on the site! Great article Alder, I am glad to see research being talked about regarding environmental and wine making effects with long term goals for our environment.
Yes, there is a lot to look at with viticulture and viniculture and to be certified under the USDA accreditation with the "Made With Organically Grown Grapes†category. The winemaker needs to look at organic grape production, organic winemaking facilities for crush and lowering the sulfites levels that he adds to the wine. In addition, feel that most of the organic wineries I work with are looking at their environmental impact for short term and long term goals. Of course the USDA accreditation does not look at plastics and recycling but most producers are taking the extra steps that are in conjunction with the organic wine production. For example, some of the wineries I represent, work with recycled cardboard for the cases, use water off their land with fresh springs, clean fining no PVPP's and do not clear cut the natural surroundings for mono crops of vines ( a few of the extra steps I have seen in the organic winemaking field).
By the way, I see more wineries overseas focusing in Sustainability and organics than domestic (although it is catching on in America). Terms to be aware of if you looking for wineries that have a focus with low impact are Organic, Made With organically Grown Grapes (both accredited by the USDA) and Biodynamic.
And a note for the writer Bertrand, there is a wonderful Champagne House called Fleury that produces beautiful champagnes which are Biodynamic and under the accredited USDA Made with Organically Grown Grapes.
Since K-J and the Lodi-Woodbridge winegrape commission are mentioned in a post above, I feel the need to mention the hippies up at Fetzer have long emphasized economics, environment and equity as the principles that guide their winemaking and business decisions.
Fetzer's parent company was slow to recognize the power that being a good neighbor and a responsible winery could have in the marketplace but, now seem willing to allow the achievements to appear on Fetzer's website.
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It would have been great but there was an article in The Sowetan and on Times Live dismissing this news as mere rumour.
Here is the link:
Despite its much lauded, progressive marriage equality laws, South Africa can be a shit place for gay people, especially black lesbians living in poor neighborhoods, but then this also happens there: Olympian Caster Semenya has announced that she wants to spend the rest of her life with her girlfriend. The news of the engagement (and her new relationship) seemed to have been ignored by other media outlets that got fat off of speculating about Semenya's sexuality, levels of hormones, and general degradation at the hands of Olympic "gender testers." But this happy news was reported by the tabloid Daily Sun, a local paper which is mostly often socially conservative and prone to sensationalism.
This is the Sun story's first line: "Olympic silver medallist Caster Semenya has started the boldest race of her life! The golden girl of Mzansi has chosen her life partner–and paid lobola [bride price] for athlete Violet Raseboya." (That's them in the picture above.)
What follows is a sweet story about how Caster's dad went to pay the bride price and neighbors and friends talking about Caster and Violet's devotion to each other. Here's a sample: "Caster's dad, Ntate Jacob Semenya, was accompanied by other family members to negotiate lobola. Caster had made her intentions clear that she wanted to take Violet as her other half." And: "Both families were happy to negotiate lobola and Caster's family paid R25 000 to have Violet as their makoti."'
There wasn't even a to-do about the Exotic African Tribal Custom of lobola-payment, or a wink-wink about why it was Caster who was paying. What I loved most about the article was the matter of fact reporting by The Daily Sun, a paper not known for its progressive politics. But really, I should not be surprised. As my friend Herman Wasserman–who wrote a book on the explosion of tabloid media in postapartheid South Africa–reminded me: while The Daily Sun is socially conservative, it also tells stories you will never find in any other paper, and about people you won't ever see in those papers. All this could be spoiled once the News24 commenters get hold of the story (if they have not already), but as a South African, I am really proud right now.
#Update: Via reader Mabel Thandi: In that grand tradition of tabloid news, Caster now denies the engagement. Still a nice story though.
It would have been great but there was an article in The Sowetan and on Times Live dismissing this news as mere rumour.
Here is the link:
Whether true or not, what was perhaps equally astounding was the number of congratulations and well wishes in the readers comments online. True they were probably evenly split between congrats and condemnation (my rough sense anyway) but some of the joyful good wishes brought tears to my eyes.


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November 28, 2014
Comments and requests for more info can be mailed or emailed to:
Janet Vine
Office of Location and Environment
800 Lincoln Way
Ames, IA 50010
The Indian Creek and Lake Manawa trail system will see some changes in the near future.
The trails will be relocated and redone in parts because of the plan being carried out to improve the interstate system in and around Council Bluffs.
Links to a map of the changes along with a description are available below.
The public is able to comment on the proposal or request more information. Comments must be submitted by November 15th.
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