Different Currencies (different + currency)

Distribution by Scientific Domains

Selected Abstracts

One money, one market: the effect of common currencies on trade

ECONOMIC POLICY, Issue 30 2000
Andrew K. Rose
A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international trade. The panel data, bilateral observations for five years during 1970,90 covering 186 countries, includes 300+ observations in which both countries use the same currency. I find a large positive effect of a currency union on international trade, and a small negative effect of exchange rate volatility, even after controlling for a host of features, including the endogenous nature of the exchange rate regime. These effects, statistically significant, imply that two countries sharing the same currency trade three times as much as they would with different currencies. Currency unions like the European EMU may thus lead to a large increase in international trade, with all that that entails. [source]

Competences for Learning to Learn and Active Citizenship: different currencies or two sides of the same coin?

In the context of the European Union Framework of Key Competences and the need to develop indicators for European Union member states to measure progress made towards the ,knowledge economy' and ,greater social cohesion' both the learning to learn and the active citizenship competences have been highlighted. However, what have yet to be discussed are the links and the overlaps between these two competences. Based on the development of research projects on these two fields, this article will compare the two sets of competences, both qualitatively and quantitatively. It will describe how the values and dispositions that motivate and inform active citizenship and learning to learn are related to each other, both empirically and theoretically. Both these competences are tools for empowering individuals and giving them the motivation and autonomy to control their own lives beyond the social circumstances in which they find themselves. In the case of active citizenship, the ability to be able to participate in society and voice their concerns, ensure their rights and the rights of others. In the case of learning to learn to be able to participate in work and everyday life by being empowered to learn and update the constantly changing competences required to successfully manage your life plans. When measuring both these competences then certain values relating positively towards democracy and human rights are common in their development. [source]

Foraging effort in relation to the constraints of reproduction in free-ranging albatrosses

S. A. Shaffer
Summary 1Theoretical models predict that animals will vary their effort to maximize different currencies such as time and energy when the constraints of reproduction change during breeding, but this has been poorly studied in free-ranging animals. 2Foraging effort (energy per unit time) was examined by comparing mass changes, foraging costs and activity-specific behaviours of Wandering Albatrosses (Diomedea exulans Linnaeus) during the incubation and chick-brooding stages. In 1998, 38 albatrosses (20 during incubation and 18 during brooding) were injected with doubly labelled water and equipped with satellite transmitters and activity data loggers. 3During incubation, albatrosses travelled 37 times farther and were at sea 32 times longer, yet foraging costs were significantly lower than trips made during brooding (incubation 452 050 SD W kg,1vs brooding 498 055 SD W kg,1). 4The rate of daily mass gain decreased significantly with time at sea during incubation whereas the rate of daily mass gain increased significantly with time at sea during brooding. 5Foraging effort was higher during brooding, suggesting that birds were minimizing time at sea to maximize the rate of food delivery to chicks. In contrast, foraging effort was lower during incubation, suggesting that birds were maximizing time at sea and minimizing the energy costs of foraging. 6Foraging costs were also different between sexes. However, this was related to body size differences and not to differences in foraging effort as suggested in previous studies. [source]

"Revenue Accounting" in the Age of E-Commerce: A Framework for Conceptual, Analytical, and Exchange Rate Considerations

Jonathan C. Glover
This paper explores "revenue accounting" in contrast to traditional "cost accounting". Revenue accounting serves the information needs of managers and investors in planning and controlling a firm's sales activities and their financial consequences, especially in the age of e-commerce. Weaknesses of traditional accounting have become particularly evident recently, for example, the lack of 1) revenue mileposts, 2) revenue sustainability measurements, and 3) intangibles capitalization. The paper emphasizes the need to develop a conceptual framework of revenue accounting and, as a tentative measure, proposes five basic postulates and five operational postulates of revenue accounting. On the side of analytical frameworks, the paper explores some tentative remedies for the weaknesses. Several revenue mileposts are explored to gauge progress in earning revenues and a Markov process is applied to an example involving mileposts. Revenue momentum, measured by the exponential smoothing method, is examined as a way of getting feedback on revenue sustainability; and the use of the sustainability concept in the analysis of "fixed and variable revenues" is illustrated. A project-oriented approach in a manner similar to capital budgeting and to Reserve Recognition Accounting is proposed by treating each customer as a project. Standardization of forecasts are also considered as an important way of bypassing the capitalization issue. Finally, while e-commerce is inherently global, issues specific to global operations are highlighted, namely, exchange rate issues when venture capitalists and the start-up company use different currencies producing different rates of return on the same project. [source]

The costs of heparin-induced thrombocytopenia: a patient-based cost of illness analysis

Summary.,Background and objectives:,Due to the complexity of heparin-induced thrombocytopenia (HIT), currently available cost analyses are rough estimates. The objectives of this study were quantification of costs involved in HIT and identification of main cost drivers based on a patient-oriented approach. Methods:,Patients diagnosed with HIT (1995,2004, University-hospital Greifswald, Germany) based on a positive functional assay (HIPA test) were retrieved from the laboratory records and scored (4T-score) by two medical experts using the patient file. For cost of illness analysis, predefined HIT-relevant cost parameters (medication costs, prolonged in-hospital stay, diagnostic and therapeutic interventions, laboratory tests, blood transfusions) were retrieved from the patient files. The data were analysed by linear regression estimates with the log of costs and a gamma regression model. Mean length of stay data of non-HIT patients were obtained from the German Federal Statistical Office, adjusted for patient characteristics, comorbidities and year of treatment. Hospital costs were provided by the controlling department. Results and conclusions:,One hundred and thirty HIT cases with a 4T-score ,4 and a positive HIPA test were analyzed. Mean additional costs of a HIT case were 9008 ,. The main cost drivers were prolonged in-hospital stay (70.3%) and costs of alternative anticoagulants (19.7%). HIT was more costly in surgical patients compared with medical patients and in patients with thrombosis. Early start of alternative anticoagulation did not increase HIT costs despite the high medication costs indicating prevention of costly complications. An HIT cost calculator is provided, allowing online calculation of HIT costs based on local cost structures and different currencies. [source]