This paper presents a new measure of capital flow pressures in the form of a recast Exchange Market Pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international asset portfolio considerations. Based on the modified exchange market pressure index, the paper also proposes the Global Risk Response Index, which reflects the country-specific sensitivity of capital flow pressures to measures of global risk aversion. For a large sample of countries over time, we demonstrate time variation in the effects of global risk on exchange market pressures, the evolving importance of the global factor across types of countries, and the changing risk-on or risk-off status of currencies.
Following a scarcity of dollar funding available internationally to banks and financial institutions, in Dec. 2007 the Federal Reserve began to establish or expand Temporary Reciprocal Currency Arrangements with 14 foreign central banks. These central banks had the capacity to use these swap facilities to provide dollar liquidity to institutions in their jurisdictions. This paper presents the developments in the dollar swap facilities through the end of 2009. The facilities were a response to dollar funding shortages outside the U.S. during a period of market dysfunction. The dollar swap lines among central banks were effective at reducing the dollar funding pressures abroad and stresses in money markets. Charts and tables.
In 1992 Russia unified the multiple exchange rates that had applied to international transactions. This paper describes the multiple exchange rate system that existed in Russia prior to mid-1992 and undertakes a theoretical exploration of the effects of the exchange rate unification that took place in July 1992. The model developed here allows for leakages between official and black markets and permits flexibility of the exchange rates in both official and parallel currency markets. Within this multiple exchange rate system with black market leakages, we trace the dynamic effects on official and parallel foreign exchange markets of changes in the types of policy instruments associated with Russia’s exchange rate regime reform. These instruments include adjustments of pegged interbank market exchange rates, rates of foreign exchange surrender taxation, and rates of taxation of capital account transactions.
The third edition of Life Span Human Development helps students gain a deeper understanding of the many interacting forces affecting development from infancy, childhood, adolescence and adulthood. It includes local, multicultural and indigenous issues and perspectives, local research in development, regionally relevant statistical information, and National guidelines on health. Taking a unique integrated topical and chronological approach, each chapter focuses on a domain of development such as physical growth, cognition, or personality, and traces developmental trends and influences in that domain from infancy to old age. Within each chapter, you will find sections on four life stages: infancy, childhood, adolescence and adulthood. This distinctive organisation enables students to comprehend the processes of transformation that occur in key areas of human development. This text also includes a MindTap course offering, with a strong suite of resources, including videos and the chronological sections within the text can be easily customised to suit academic and student needs.
Anxiously attached individuals feel chronically insecure and their relationships are often intense, angry, and enmeshed. In the spectrum of anxious attachment, some people tip into states of acute rumination following specific life events, while an extreme manifestation may be thought of as "borderline borderline" - inescapable brooding, raging, and inability to separate. Preoccupied clients can be difficult to work with, and these therapies often feel stuck or end badly. Anxiously Attached contains four papers presented at a conference in February 2016. They address the origins of anxious attachment in specific features of parent-infant relationships, findings from research about developmental aspects, typical features, concerns, and defences in adults, and how these may be presented in psychotherapy. Enmeshed dynamics in adult relationships, including the therapeutic relationship, are also highlighted, where threat of separation and loss activate intense attachment seeking. The aim is to increase understanding of preoccupied clients from an attachment perspective, to recognise the nature of their anxieties and resistances, and propose specific skills for therapeutic work.
A review of the scientific evidence on the effects of cannabinoids on brain and behavioral functioning, with an emphasis on potential therapeutic use. The cannabis plant has been used for recreational and medicinal purposes for more than 4,000 years, but the scientific investigation into its effects has only recently yielded useful results. In this book, Linda Parker offers a review of the scientific evidence on the effects of cannabinoids on brain and behavioral functioning, with an emphasis on potential therapeutic uses. Parker describes the discovery of tetrahydocannbinol (THC), the main psychoactive component of cannabis, and the further discovery of cannabinoid receptors in the brain. She explains that the brain produces chemicals similar to THC, which act on the same receptors as THC, and shows that the endocannabinoid system is involved in all aspects of brain functioning. Parker reports that cannabis contains not only the psychoactive compound THC, but also other compounds of potential therapeutic benefit, and that one of them, cannabidiol (CBD), shows promise for the treatment of pain, anxiety, and epilepsy. Parker reviews the evidence on cannabinoids and anxiety, depression, mood, sleep, schizophrenia, learning and memory, addiction, sex, appetite and obesity, chemotherapy-induced nausea, epilepsy, and such neurodegenerative disorders as multiple sclerosis and Alzheimer's Disease. Each chapter also links the scientific evidence to historical and anecdotal reports of the medicinal use of cannabis. As debate about the medical use of marijuana continues, Parker's balanced and objective review of the fundamental science and potential therapeutic effects of cannabis is especially timely.
Providing an abundance of realistic cases illustrating issues in assessing and treating child psychopathologies, this casebook provides students with an opportunity to apply skills in case formulation and diagnosis using fully developed actual practice cases. It assists students in developing their decision-making and problem-solving skills in face of the full complexities of childhood psychopathologies. It's only through exploring realistic, complex cases that students learn to integrate the theory and research-based assessments and interventions they've been learning from textbooks and previous course work.
Child and Adolescent Psychopathology: A Casebook, Fifth Edition provides students with an opportunity to gain deeper insight into a wide range of disorders within the context of the diagnostic framework of the DSM-5. This supplemental textbook provides an abundance of "real life" cases which demonstrate methods in assessing and treating a wide spectrum of child and adolescent psychopathologies in a variety of settings. Each case presents an opportunity to practice and develop clinical skills in the assessment, diagnosis, and treatment of childhood disorders from a number of theoretical perspectives and at various levels of interest and expertise. The book features current trends in assessment, diagnosis, treatment, and research. It is an ideal hands-on resource for a child and adolescent psychopathology course. The Fifth Edition includes a new case study on depression, expanded coverage of trauma-related disorders, a new glossary, and updated assessment materials and references throughout.
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