Data description Essay Example for Free

Data description Essay The next step of the analysis is to compare the rank order of the relative true factor endowments in Table 1, to the rank order of the trade-revealed factor endowments in Table 2. Comparing these rank orders shows that both rank orders are identical, except that the rankings of land and un-skilled labour are switched. Furthermore, this table demonstrates that the trade performance of Vietnam, measured by exports minus imports, is dependent on the country-specific abundance of land, low-skilled labour. This implies that Vietnam has a comparative advantage in goods that make intensive use of unskilled-skilled and land, and a comparative disadvantage in goods that make intensive use of capital, intermediate and highly-skilled labour. The limitation of the study is that the absolute value of trade-revealed factor endowment (value of F: the left hand side of equation 4) and the relative true factor endowment (value of the right hand side of equation 4) do not coincide. This may be due to five factors: first, a key explanation is that each country uses different production techniques, these differences reflect factor endowment differences. Therefore, factor content studies that use a common technology matrix will systematically understate actual factor content. This leads to a failure in the assumption of factor price equalisation. Second explanation for the early failure to find factor content is an apparent bias in consumption towards locally produced goods. Third, although the input-output tables are becoming available for many countries, they are arguably not the highest quality economic data available. Fourth, the differences between the trade-revealed factor content and relatively true factor endowment also comes from the introduction of costs to international trade, which could have a strong effect on trade volume9. Finally, goods of intermediate factor intensity fall into the non-traded sector, so we tended to underestimate the true factor content of trade. There is a systematic correlation between country capital abundance and industry input usage not only in tradables (where this now suggests specialization) but also in non-tradables (where this suggests factor substitution). Thus, a mismatch can occur in calculating the factor content of trade and relatively true factor endowment. Some researchers are trying to build a new model that predicts some of the technology and demand modifications needed by the empirical factor content studies to make the Heckscher-Ohlin model fit the data. In addition to the two tests, based on the figures in column two and four, Spearmans and Kendalls correlation was computed. The value of coefficient is 0. 9 and the correlation is statistically significant at 97% level of confidence. In addition, Kendalls correlation was also performed for the rank test using information in column three and five, the coefficient is also 0. 9, and it is significant at 96% level of confidence. Therefore, findings of the sign test and rank test support the H-O-V theorem in trade between Vietnam and the world. 6 Conclusion The HOV theorem on trade between Vietnam and the world was tested by measuring both true and trade-revealed factor endowments. Two non-parametrics tests were conducted, the sign test and the rank test. Since the sign test was completely successful and the rank orders of factor abundance according to both methods of measurement are very similar, the HOV theorem is confirmed. The analysis of Vietnams factor endowments has shown that Vietnam has factor abundances in land and un-skilled labour, land whereas it has factor scarcities in capital, semi-skilled labour and highly-skilled labour. This implies that Vietnam has a revealed comparative advantage in goods that are intensive in the use of land and un-skilled labour and a comparative disadvantage in goods that are intensive in the use of capital, semi-skilled labour and highly-skilled labour. Therefore, the theory performed well, indicating that the relevant framework may be a reasonable framework for policy studies. In addition, studies of the factor content of trade may help in addressing policy questions of the impact of openness on national income levels and distribution. In fact, there already is a study mapping measures of the factor content of trade into impacts on domestic relative wages for the United States and other members of the Organization for Economic Cooperation and Development (OECD) under some conditions which such a mapping makes sense. This work has been very important in clarifying issues to be addressed in future work. A major area for future work is taking the empirical frameworks favored by the studies of factor content and find out the consequences of international integration on incomes and inequality. To sum up, study on factor content of trade bring out a deep understanding of how resources may drive patterns of trade between a country and other countries, and between a country and a region. References Bowen, H. P. , Leamer,E. E. , Sveikauskas,L. , 1987. Multicountry, Multifactor Tests of the Factor Abundance Theory, American Economic Review, 77:791-809. Brecher,A. Choudhri,E. U. (1982), The Factor Content of International Trade without Factor-Price Equalisation, Journal of International Economics, 12:277-283.

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Dylan Kippola AMH2010 Feb, 2014 Kinston Hangings In the early hours of February 2, 1864, fifty-three North Carolina men were captured by Confederate forces under the command of Major General Pickett. Within four months of their capture, most would be dead. Most would fall victim to the diseases acquired in Southern P.O.W camps in Richmond, Virginia, and Andersonville, Georgia. However, twenty-two were publicly hanged in Kinston, North Carolina. The wives, neighbors, friends, and former brothers in arms in the Confederate army were forced to watch the executions. From the Confederacies point of view, the executed men were Union soldiers because they deserted. Once captured, they deserved to be treated as prisoners of war. President Abraham Lincoln mentioned this on July 31, 1863. He ordered retaliation on the enemy prisoners in the North’s possession. His response was to kill a Southern P.O.W for every P.O.W the Confederacy killed. The Confederates argued that the men were simply deserters and therefore execution was a legiti mate punishment for them. Desertion was most apparent in North Carolina. North Carolina was contradictory in both providing more soldiers to the Confederate army than any other state and of having more deserters from the army than other states. Although North Carolinian disloyalty to the Confederacy was not any worse than other Southern states, it was more publicly pronounced. North Carolina was the last to secede and did so only after a statewide vote of the people. Because desertion was not a crime in the state, citizens who housed and protected deserters felt safe from arrest for hiding them. It was said that the deserters could band together and defy the officers of the law who came after them because of t... ...e placed over the heads of the condemned and they were hanged. Joining their other deserters. The thirteen remaining condemned men had four days to sit in the jail's dungeon to think about their deaths that would take place on Monday, February 15th. Chaplain Paris described the scene in a letter that appeared shortly afterward in the North Carolina Presbyterian and the Wilmington Journal: "I made my first visit to them as chaplain on Sunday morning. The scene beggars all description. Some of them were comparatively young men. But they made the fatal mistake. They had only twenty-four hours to live.... Here was a wife to say farewell to a husband forever. Here a mother to take the last look at her ruined son, and then a sister who had come to embrace for the last time the brother who had brought disgrace upon the very name she bore by his treason to his country."

Continuing Differences Between US Essay

U. S. GAAP IFRS Convergence In January 2008, the U. S. SEC issued a final rule that adopted rules that allowed non U. S. -based issuers’ financial statements in accordance with the IRRS, as issued by IASB, without the need to reconcile with the U. S. GAAP (SEC, pp. 20, 2008). In its ruling, the SEC acknowledged that the convergence efforts between the IFRS and U. S. GAAP have made progress in eliminating many disparities. The SEC acknowledged that its prior complaints on lack of information or disclosure by foreign issuers on certain areas, and the manner of presentation of their financial statements have been resolved by the convergence efforts. The SEC, however, recognize that a number of difference still exist, with some accounting subjects that the IFRS has yet to fully address ( SEC, pp. 20, 1998). Continuing Differences Between US GAAP and IFRS According to the SEC, due to their sources, U. S. GAAP and IFRS will continue to have differences regardless of their convergence. The SEC said that these include (i) the effects of mergers, combinations and other legacy transactions that happened when the convergence was still initiated, and (ii) those arising as a result of accounting elections (for example, hedge accounting) that foreign issuers make under those standards (SEC, pp. 21, 2008). The International Accounting Standards Board in its 2005 report said that certain divergence issues has to be addressed in the long-term. These include (i) classification of debts on refinancing or default under credit agreements, (ii) differences in financial instruments’ accounting, (iii) post-employment benefits, and (iv) long-lived assets impairment and borrowing costs’ capitalization. AIFRS/Australian GAAP PricewaterhouseCoopers reviewed the the Australian equivalents to International Financial Reporting Standards (AIFRS) and gave recommendations to the Australian Accounting Standards Board. PwC pointed to divergences between Australian Standards (AIFRS) and IFRS: According to PWC, the implementation of AIRFS is expect to improve corporate governance and financial reporting in Australia. Ernst & Young Report Ernst & Young said the IRS differ significantly from those principles in use. Among other things, the IRS’ protocol on business combinations compel recognition of more intangible assets to be valued an recognized than practiced in local accounting rules. E&Y said that the IFRS will help companies improve their internal control as it requires more extensive reporting procedures, and will require greater transparency among firms as a common financial standard will be used. E&Y said in its report that the conversion to IFRS has a substantial impact on financial reporting which requires management and personnel to focus on improving strategy because: * financial statements’ presentation has been modified * measurement of assets and debts may result in increase in earnings and volatility in equity. * additional disclosures would be required. REFERENCES Final Rule: Acceptance From Foreign Private Issuers of Financial. January 9, 2008. Securities and Exchange Commission. http://www. sec. gov/rules/final/2007/33-8879. pdf International Convergence status. 15 June 2008. International Accounting Standards Board. http://72. 3. 243. 42/fasac/06-21-05_intl. pdf Padoa-Scioppa. 19 May 2006. Financial Times. retrieved 13 Aug. 2008. http://www. iasb. org/News/Announcements+and+Speeches/Work+on+converging+accounting+standards+must+go+on. htm PriceWaterhouseCoopers. 28 Jan. 2005. Submission to Parliamentary Joint Committee on Corporations and Financial Services. http://www. aph. gov. au/SENATE/committee/corporations_ctte/completed_inquiries/2004-07/aas/submissions/sub22. pdf

Christianity and Prostitution in the Middle Ages Essay

Christianity and Prostitution in the Middle Ages 21st century Americans live with the hopes of being a tolerant society. Modern American culture attempts to teach diversity and acceptance. However there is uncertainty about subjects associated with immoral behavior and sexuality. Many people are uncomfortable with the idea of prostitution as a legal institution. Hence, it remains illegal throughout the United States in all but a few counties in one state, Nevada. People have questioned the moral and legal issues of this career choice throughout much of written history, especially since the beginnings of Judeo-Christianity. Many modern views stem from the development of Christianity and its articulation in the Middle Ages.†¦show more content†¦This will show the consistency between philosophy and practice. Then a comparison between philosophy and practice within the contemporary United States will be made, which unlike the medieval period do not match up. When philosophy and practice do not match, hypocrisy follows. In the later medieval period, after about 1000, the church had a larger audience than any government of the Middle Ages. It attempted to understand human behavior and explain disorder by placing blame on different aspects of society that did not follow its moral norm. So to understand government one must understand the views of the church, since governments adopted much of what church figures preached. Early on, from its beginning until about 1000, Christianity was not yet organized and was unable to hold a clear view on all aspects of the road to salvation. Without set rules, it was open to individual communities, each with its own bishop, to decide what was appropriate. Views varied and were easily confused. Interpretations of the circulating Gospels were open to whomever read and taught them. Traveling prophets and philosophers rendered their own ideas rather than a unified Christian ideal. But even with the confusion, a unified philosophy on prostitution arose and remained constant throughout the Middle Ages. St. Augustine, who was one of the most frequently read and cited theologiansShow MoreRelatedFreedom of Women to Be Prostitutes Essay1440 Words   |  6 PagesFor centuries, women have been selling their bodies, in most cases prostitution, but it is not world’s oldest profession. Nevertheless, for as long as history states, prostitution has been around for as long as the oldest professions in the world. Every aspect of history asserts even the slightest things about prostitution existing. 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