Bank of Japan Essay Example for Free

Bank of Japan Essay Japan underwent a decade-long odyssey with deflation and the zero-bound problem. Economic activity in Japan slowed precipitously following the collapse of the socalled bubble economy in December 1989, and Japan began to experience deflation by early 1995. During this initial period, while the economy was slowing, forecasters and policymakers consistently underestimated the extent of Japan’s economic malaise. Consequently, while monetary policy seemed appropriate in terms of the prevailing outlook, the loosening proved woefully inadequate in hindsight. Convinced that Japan’s economic fundamentals were too severely distressed to be rectified with standard monetary policy measures, on March 19, 2001 the Bank of Japan announced a new policy of â€Å"quantitative easing†, in an attempt to stimulate the nation’s stagnant economy. Under this policy, the BOJ increased its current account target far beyond the level of commercial bank required reserves. This had the expected impact of reducing the already-low overnight call rate effectively to zero. In addition, the BOJ committed to maintain the policy until the core consumer price index registered â€Å"stably† a zero percent or an increase year on year. Such a policy was unprecedented in the history of central banking in any country. Available Choices and Key Decision On March 2006, which is five years after the â€Å"quantitative easing† policy embarked, the issue concern it was bring back to the desk. The Japanese economy was improving at that time and the core consumer price index (CPI) was showing steady growth after years of deflation, one of the predetermined conditions for lifting the policy. As such there was widespread speculation over the future of the policy. One question arisen: Would the current quantitative easing policy persist or would the BOJ return to a normal monetary stance that targeted interest rates? On March 9th 2006, the central bank made the widely expected decision to lift the quantitative easing policy. The BOJ also drew up a set of measures aimed at averting possible market turmoil that could result from lifting the policy. The exit from QF was announced as follows:â€Å" †¦ The outstanding balance of current accounts at the Bank of Japan will be reduced towards a level in line with required reserves. †¦ the reduction in current account balance is expected to be carried out over a period of a few months, taking full account of conditions in the short-term money market. The process will be managed through shot-term money market operations. With respect to the outright purchases of long-term interest-bearing Japanese government bonds, purchases will continue at the current amounts and frequency for some time.† Thus, the BOJ make it clear that the reduction of the excess reserves would be conducted through adjustments of its liquidity operations and not by a rapid reduction of its portfolio of Japanese government securities. In fact, the BOJ announced that it actually would maintain its outright purchases of long-term Japanese government bonds at the pace of 1.2 trillion yen per month. On the same day the BOJ made its decision, the Japan Investment Council, a ministerial-level panel chaired by Prime Minister Junichiro Koizumi, agreed to set a target of doubling the amount of direct investment in Japan by overseas investors to 5% of gross domestic product over the next four years. Personal Decision and Reason Since the BOJ has supplied extremely ample liquidity with current account balance at the bank as the main operating target and the core consumer price index registered â€Å"stably† a zero percent or an increase year on year as the commitment has already been maintained, the exit from QE is preferred choice that BOJ should make. At that time, exports have continued to increase reflecting the expansion of overseas economies. With respect to domestic private demand, business-fixed investment has also continued to increase against the backdrop of high corporate profits. Meanwhile, the output gap is gradually narrowing. Unit labour costs generally face weakening downward pressures as wages began to rise amid productivity gains. Furthermore, firms and households are shifting up their expectations fro inflation. In this environment, year-on-year changes in the consumer price index are expected to remain positive. From all the aspects, BOJ had already fulfilled the commitment made when the quantitative easing started to carry out. Therefore, it was time for BOJ to return to a normal monetary stance that targeted interest rates. And the strategy BOJ used when exit from QE was preferred. The advantage was that the exit of QE was predominantly limited to just one item on the BOJ’s balance sheet and that the balance sheet adjustments were conducted through operations directly with the banking sector, which facilitated the management of the exit process. Since the central bank was set to maintain zero interest rates for some time, the exit from QE would avoid the undesirable effect of inducing the flow of individual investors’ duns into high-risk, high-return instruments and avoid the case rise to speculative money games played out in some corners of the real estate and stock markets. Last but not least, the process of exit from QE showed a collaborative relationship between BOJ and the government. It was a good example for BOJ to maintain a good communication with the government in order to avoid negligent lapses and avoid the distortion to the economy like which happened during the late 1980s due to the government’s excessive influence over monetary policy. This decision lead BOJ one step forward to bank’s autonomy from the state. All in all, the exit from QE in Japan had been considered a success and its experience may serve as a useful example for other central banks.

Magical Realism as a Fusion of Fantasy and Reality Essay -- Literature

Magical Realism as a Fusion of Fantasy and Reality      Ã‚   One month ago, I had never heard of Magical Realism. Since reading the four essays by Franz Roh, Angel Flores, Luis Leal and Amaryll Chanaday and various internet articles, I have a much better understanding of Magical Realism - what it is, how it applies to literature, how it applies to art, and its theory, history, and style.    Magical Realism is a fusion of fantasy and reality. According to Flores, it is a "transformation of common and everyday into the awesome and unreal" (114). This is not even and equal mix. Magical Realism is reality-based with just one fantastic overstatement. This overstatement is described by Pietri as "a kind of extreme state," and that it "favors the unexpected richness of reality" (qtd. in Leal 121). This one fantastic element is always accepted as reality by the characters in the story. It also has hidden meanings in a deeper realm. "The mystery does not descend to the present world but rather hides and palpitates behind it" (Roh 16). Magical Realism is subject to a certain control and is mainly used to show a different way of viewing the world. In this form of expression, the plots are always logically conceived. Magical Realism also expresses emotions without evoking them. In Magical Realism, "key events have no logical or psychological explanation" and "the author does not need to justify the mystery of events" (Leal 123). as a science fiction or fantastic author would. Also, unlike in sci-fi and fantasy stories, the author clings to reality. Flores describes this characteristic by saying the authors "cling to reality as if to prevent 'literature' from getting in their way, as if to prevent their myth from flying off, as i... ...t be literature that is reality based but contains at least one fantastic element that is unexplained but accepted. Now that I understand what it is, I am beginning to find more examples of it all around me. I am looking forward to reading examples of this unusual and interesting genre.    Works Cited Flores, Angel. "Magical Realism in Spanish American Fiction." Magical Realism: Theory, History, Community. Ed. Lois Parkison Zamora and Wendy B. Faris. Durham; N.C.: Duke UP,1995:109-118. Leal, Luis. "Magical Realism in Spanish American Literature." Magical Realism: Theory, History, Community. Ed. Lois Parkison Zamora and Wendy B. Faris. Durham; N.C.: Duke UP,1995:119-124. Roh, Franz. "Magic Realism: Post-Expressionism." Magical Realism: Theory, History, Community. Ed. Lois Parkison Zamora and Wendy B. Faris. Durham; N.C.: Duke UP,1995:15-31.   

The Impacts Of Invasive Alien Plants Environmental Sciences Essay

Chapter 1Research on the impacts of invasive foreigner workss ( IAP ) on biodiversity, ecosystem services and procedures have been good documented in the literature. Furthermore, the primary focal point of this research was the negative impacts associated with IAPs when there are some benefits associated with these workss. Limited research has besides addressed the issue of IAP impact on the supports and wellbeing of local land-users. Sing that limited resources are available to turn to the issue of IAP at big, quantification of stakeholder perceptual experience is needed to maximize IAP direction. Through this thesis, an probe into the spread and impacts of IAPs in the rural parts of the Agulhas Plain every bit good as the perceptual experiences, utilizations, costs and benefits associated with IAPs and the importance of these workss to the supports of the local communities was carried out. The intent of this research is to supply a better apprehension of the possible impacts of invasive works species on the supports of people. This local cognition can help research workers by supplying context specific information about impacts, which can so be used for future preservation actions.MotivationThe damaging effects of IAPs on ecosystems and biodiversity, ecosystem goods and services the economic system of human endeavors and human wellness have been good documented in the literature ( e.g. Ging et Al. 2004, Nel et Al. 2004, Shackleton et al. 2007 ) . Invasion by foreign species have been reported as a major menace to the biodiversity and operation of sensitive ecosystems ( Turpie et al. 2003, Richardson and Van Wilgen 2004, Van Wilgen et Al. 2008 ) . It has been shown that invasive species are really successful in viing for resources with native species and can modify fuel tonss by altering the sum of litter autumn ( Behenna et al. 2008 ) . Invasive foreigner workss are besides capable of changing the natural food fluxs by switching the N content due to alterations in the litter autumn ( Behenna et al. 2008 ) . Dense stands of acacias along the rivers in the Western Cape replace and except native fynbos species ( Blanchard and Holmes 2008 ) . Invasive foreigner workss besides pose one of the greatest immediate menaces to flowered diverseness in the fynbos and have the ability gaining control huge sums of H2O ( Turpie et al. 2003 ) . In contrast, research researching the effects of IAPs on the supports of local, rural communities has received small attending ( McGarry et al. 2005, Shackleton et al. 2007 ) . Not all of the impacts exerted by IAPs are negative as these works species is a beginning of both costs and benefits ( Bardsley and Edward-Jones 2006 ) . Assorted workss have been introduced to South Africa for a assortment of intents ( Van Wilgen et Al. 2001 ) . These include species intrudes for harvest production, lumber and firewood, garden ornamentals, for dune stabilization and hedge workss ( Van Wilgen et Al. 2001 ) . Several of these have become established and some of the established species are now invasive ( Van Wilgen et Al. 2001 ) . Costss are experienced when these invasive species impede the operation of societal and ecological systems ( Bardsley and Edward-Jones 2006 ) . Benefits, on the other manus, are experienced when the same traits ( such as robustness and high fruitfulness ) that lead to these species going invasives, contribute to their utility ( Bardsley and Edward-Jones 2006 ) . Rural communities are exposed to IAPs in different ways ( Shackleton et al. 2007 ) . The result is that that these communities have to weigh up the tradeoffs between the possible positive benefits of IAPs as a natural resource and the negative impacts exercised by these species on ecosystem goods and services and in bend on human support ( Shackleton et al. 2007 ) . It is by and large accepted that the negative effects of IAPs on ecosystem goods and services are transferred straight to human wellbeing ( Shackleton et al. 2007 ) . This has been proven otherwise by research workers such as de Neergaard and others ( 2005 ) , Shackleton and others ( 2007 ) and Kull and others ( 2011 ) who illustrated that IAPs can be integrated significantly by local communities in their life styles as either a beginning of tannic acids and lumber, for firewood, constructing stuff, every bit good as for medicative extractions and fiscal income by selling of firewood. Working for Water ( WfW ) , an IAP obliteration programme, was launced in 1995 with the purpose of reconstructing natural capital by commanding occupying species and enhance H2O security ( Van Wilgen et Al. 1998 ) . Simultaneously, the programme aims to relieve poorness by supplying employment to underprivileged communities ( Van Wilgen et Al. 1998 ) . To day of the month, the WfW programme has developed into one of the biggest preservation undertakings in Africa with respect to manpower, costs and impact ( Ndhlovu 2011 ) . Immense sponsorships have contributed towards extended countries being cleared and a big Numberss of persons being employed ( Binns et al. 2001, Turpie et Al. 2008 ) . Conversely, the socio-economic benefits of the WfW programme have non been entirely assessed regardless of the programmes extended activities and significant sponsorships associated with it ( Turpie et al. 2008 ) . Additionally, the usage of these workss by rural communities is non good understood and rarely integrated into obliteration programmes as stated below: The deficiency of information on the socio-economic impacts of IAS has been singled out as a major barrier to the execution of comprehensive national IAS direction programmes and as one of the chief grounds for the failure of IAS issues to have conspicuously in the mainstream docket of most states ( Peter, 2009 ) . Quantification of stakeholder perceptual experience on the impacts of IAPs is indispensable in order authorize an statement for the control and direction of invasive works species ( Peter, 2009 ) . Though it is critical to understand anthropogenetic impacts on landscapes and ecosystems through ecological cognition of invasive species, an improved apprehension of the societal procedures is besides required to inform both species direction and preservation policy ( Peter 2009 ) . There is a deficit of information sing the socio-economic impact of foreign species soon found in South Africa. Even in good studied countries such as the Cape Floristic Region, the scope of the impact of invasive workss is ill understood. Additionally, limited research has besides been done with respect to the socio-economic impacts of foreign obliteration programmes in the Western Cape. Consequently, there is a demand for comprehensive research that investigates the holistic impacts ( both negative and positive ) of IAPs on the supports and wellbeing of local communities.Goals and AimsSing the above, the aim of this survey was to measure the effects and impacts of IAP infestation on human wellbeing, with the focal point on the effects of IAPs on the supports of rural land users in the Western Cape, South Africa. The chief research inquiry that directs the survey is as follow: What are the impacts of invasive foreigner workss on the supports of rural land users? This research inquir y was broken down into seven cardinal inquiries. These cardinal inquiries were adapted from the literature ( see McGarry et Al. 2005 ) .Cardinal QuestionsWhat is the significance of the natural environment to the community? What are people ‘s attitudes towards and perceptual experiences of IAPs? How of import are IAPs for human wellbeing and supports? Are the IAPs used for nutriment, for domestic demands, etc. ? Are IAPs sold to supply an income? Does the local community perceive IAPs as holding a positive or negative impact on spiritualty, civilization and/or aesthetics? How make IAPs in the country affect the supply of ( other ) ecosystem goods and services which are of import to people ‘s supports? What are people ‘s attitudes towards IAP direction? What are the impacts of IAP obliteration programmes on supports? What is the impact of IAP distribution on land-use patterns? What are the long-run and short-run additions and losingss for human wellbeing and support as a consequence of IAP impact? The survey site is extremely dependent on countries where rural communities are still extremely reliant on bring forthing an income from the land. Additionally, the survey site must besides follow with the usage of IAPs by the local community and in the same light IAPs must be potentially regarded as a job by the local community. The Agulhas Plain, situated within the Cape Floristic Region ( CFR ) , has been selected as the focal point country for this survey as it meets the above mentioned standards.Study countryThe Agulhas Plain ( AP ) is located within the CFR which is internationally known as a planetary biodiversity hot spot ( Turpie et al. 2003 ) . The CFR, known for its Mediterranean type clime, is the most floristically rich of the seven diverse biomes allocated in South Africa with an estimated 9600 works species of which 70 % are endemic ( Richardson and Sekhran 2009 ) . The AP, consisting an country of 270A 000 hour angle, is located at the southern-most tip of South Africa and is a species-rich country known for its fire-prone coastal lowland fynbos and infertile dirts ( Richardson and Sekhran 2009, Treurnicht 2010 ) . It is internationally recognised as a â€Å" Centre for indigenousness † ( Treurnicht 2010 ) . This country is nevertheless progressively threatened by habitat transmutation and foreigner works invasion ( Turpie et al. 2003 ) , the latter being the focal point of this survey. Fynbos wild flower agriculture and harvest home, peculiarly from natural flora, forms an built-in portion of this country ‘s economic activity and contributes vastly to this part ‘s agricultural sector ( Treurnicht 2010 ) . This has been shown Turpie and others ( 2003 ) who stated that natural fynbos flora are estimated to be accountable for 57.6 % of the CFR ‘s turnover, which were equal to R90.5 million in the twelvemonth 2000. The Agulhas Plain is practically responsible for the largest portion of this turnover ( Turpie et al. 2003 ) .Study restrictionsIt was non possible to make a systematic and thorough research in all the countries on the Agulhas Plain were IAP infestation occurs due to the clip restriction of this survey. It was therefore decided to make a elaborate and comprehens ive micro focal point i.e. instance survey on the socio-economic impacts of invasive foreigner workss and to garner every bit much consistent information as possible by agencies of interviews. Elim and the environing agrarian communities were consequently selected as the survey group.Study site choiceElim and the environing agrarian communities were chosen as the best suited survey site harmonizing to the undermentioned grounds: It was established during the visits prior and during the pilot survey that this rural colony and its neighbouring farms still relies on woody IAPs as either a primary or a auxiliary beginning of energy. It was noted during field visits that the countries surround the colony every bit good as the neighbouring farms are invaded to a significant grade. There has been active foreign obliteration programmes in the country since 1998 i.e. Working for Water every bit good as LandCare under the sections of Water Affairs and Agriculture severally.Thesis lineationChapter 1 – IntroductionChapter 2 – Literature ReappraisalChapter 3 – Methods, Results and DiscussionChapter 4 – Deductions for direction and policies

Attribution Theory, By Fritz Heider Essay - 1714 Words

This paper acts in order to introduce and clarify Attribution Theory, in addition to demonstrating when it is purposeful and to what extent it is accurate. This will be accomplished through an explanation of the theory, which consists of its origins and key concepts. A communicative episode will be included to serve as an illustration, along with an analysis of the episode in order to explain the theory in motion. Lastly, its applications, assets, and liabilities are stated. Explanation of Theory In order to maximize the efficiency of processing new information, encounters, or experiences, what is seen is combined with past perceptions and notions to create an interpretation that acts as an explanation of what is not directly stated or known for one’s behavior.. Through this, appropriate action or conduct is formed or expressed. This process is known as Attribution Theory, primarily founded by Fritz Heider. The theory can be broken down into two important pieces, internal and external, each affecting the interpretation of one’s behavior. It is through these two paths in which individuals arrive to different conclusions despite the experience shared being the same. This is a The first of these distinctions is internal attribution, which â€Å"locates the cause of a particular behavior within the social actor† (Miller). Internal attributions are formed with interpretations or assumptions of one’s personality or traits. Since the formation of an inter nal attribution comes from aShow MoreRelatedFritz Heider : The Theory Of Attribution Theory1224 Words   |  5 Pagessecond component of social perception is attribution. Attribution is the process in which we attach meanings of other’s behaviors. Similarly, attribution theory refers to the study of models people implement in order to make judgments about the behavior of others. Fritz Heider, an Austrian psychologist whose work was related to the Gestalt school, published â€Å"The Psychology of Interpersonal Relations,† which expanded his creation of attribution theory. Heider initiated that â€Å"people are naà ¯ve psychologistsRead MoreAttribution Theory By Fritz Heider..according1600 Words   |  7 PagesAttribution Theory, attempts to explain causes of behavior. It attempts to explain the causes of people s behavior and attributing or explaining reasons as to why people behave the way they do Heider(1958). The theory was developed by Fritz Heider..According t o Heider (1958) a person can make two attributions; internal attribution, the inference that a person is behaving in a certain way because of something about the person, such as attitude, character or personality and external attribution,Read MoreThe Leading Body For Attribution Theory1502 Words   |  7 PagesThis essay will discuss the work of Fritz Heider (1958), the leading body for attribution theory and Harold Kelley (1972) and Bernard Weiner (1986), who along with many other psychologists have since attempted to further explain why and how we make attributions. Research to support and contradict their findings will also be covered throughout the text. The term attribution refers to how we as human beings attach meaning to our own, and other people s behaviour. It has been suggested by Fiske andRead MoreExplaining Human Behavior with the Attribution Theory in Fritz Heiders Book The Psychology of Interpersonal Relationships883 Words   |  4 Pagesspeak about the Attribution theory. Fritz Heider (1958), in his book The psychology of interpersonal relations, explained that through perception we know the world around us, a world made up of things and people and different events. Researching people’s naà ¯ve, intuitive understanding of interpersonal events. He explained that these common sense inferences sometimes are biased, but nonetheless mediate interpersonal relations. He presented also in his book the idea of attribution, which influencedRead MoreAttribution Theory: Examining External and Internal Attribution635 Words   |  3 PagesThe attribution theory is the theory on how people explain things. One of the best things about being human is being able to explain anything. A synonym of attribution is exclamation. We as humans have a strong need to understand things. If you can influence people and explain what is happening, you may be able to change them. Attribution Theory Attribution theory correlates with how people exemplify events and how it affects their behavior and thinking. People making casual explanations isRead MoreAn Evaluation of the View That; People Act as ‘Lay Scientists’ in Interpreting Their Social World, Perceiving and Analysing Information in an Objective, Rational Manner.1609 Words   |  7 Pagessocial interactions, they make inferences and assumptions about people’s behaviour and events that they encounter. This concept falls under the ‘attribution theory’ umbrella, which means; assigning cause to our own or other peoples behaviour. Fritz Heider (cited in Buchanan et al, 2007) was the first to propose a psychological theory of attribution. Heider discussed what he called â€Å"naà ¯ve† or â€Å"commonsense† psychology. In his view, people were like amateur scientists, trying to understand other people’sRead MorePerception Is The Organization, Identification And Interpretatio n Of Sensory Information1209 Words   |  5 Pagesconsidered a reliable tool to accompany the critical thinking process. The attribution theory says that when we observe behaviour we try to determine if it is internally or externally driven. If it is internally driven it is under the person’s control whereas external causes are not under the individual’s control. While people strive to find reason for behaviour, they fall into many traps of biases and errors. As Fritz Heider say, ‘our perception of causality are often distorted by our need and certainRead MoreResearch Report On Environmental Consequences1536 Words   |  7 Pagesa counteracting argument to this existing research and historiography, Fritz Heider, over a period of time, developed his Attribution Theory through the undertaking of social psychological research. The research of Heider attributed the behaviour of individuals to their disposition as human beings – effectively arguing that decisions taken were due to underlying lasting behaviours existing within a person. The work of Heider has significantly affecte d the process which has been undertaken by psychologistsRead MoreHow Does Attribution Affect A Person s Behaviour?1728 Words   |  7 Pages This study’s aim is to interview participants to determine if context or the situation will alter a person’s attributions towards a person’s behaviour. Five participants were tested on three behaviours occurring in six different environments. We predicted that they would look at the situation/environment initially before looking internally at the actor to determine whether their behaviour or normal or abnormal. It is proven that situations are more important than the behaviour when judging someone’sRead MoreEssay on The Departed† and Its Theories1694 Words   |  7 Pagesâ€Å"The Departed† and its theories The movies describes a major theme of â€Å"The Departed† as one of the oldest in drama—the concept of identity—and how it affects ones actions, emotions, self-assurance, and even dreams.† Many years later, an older Sullivan, now in his mid twenties, (Matt Damon) is finishing his training for the Massachusetts State Police with classmates, including fellow cadet Barrigan (James Badge Dale). In another class are Cadet Brown (Anthony Anderson) and Billy Costigan (Leonardo