The Effects Of Oil Prices On Economic Activity - 1525 Words

Recent decline in oil prices has generated a wave of public controversy about the possible consequences for oil exporters. This paper will examine the relationship between oil price dynamics and macroeconomic indicators in oil exporting countries such as Canada, Russia, Norway, Mexico and UK. The hypothesis of oil price effects will be tested by adopting the Vector Autoregression (VAR) framework, which has been widely used to examine the effects of changes in oil price on economic activity in other papers. The main findings of this paper conclude that there is a considerable relationship between oil prices and key macroeconomic indicators in the countries under analysis. The impact of oil prices varies among countries with the biggest and expanding effect in Russia where a direct impact of oil prices on GDP growth, exchange and interest rates is detected. A significant response of GDP on oil price shocks is also detected in Canada and Mexico. As for Norway and UK relationship between real GDP and oil prices is not so significant, however, oil price dynamics has a significant influence on other macroeconomic indicators. 1. Introduction After four years of relative stability, oil prices have fallen sharply in June 2014. Many people have been arguing about the possible sources of the recent decline, whether the low prices will persist, and most importantly the possible impact of oil shocks on commodity exporters. This paper attempts to examine the historicalShow MoreRelatedEffects Of Lower Oil Prices On Canada s Economic Activity1520 Words   |  7 PagesLiterature Review Effects of Lower Oil Prices on Canada’s Economic Activity Consumer Price Index Falling oil prices leads to a fall in the price of gasoline which is derived from oil. Subsequently, consumption of gasoline rises as Canadians benefit from lower oil prices. In fact, The Conference Board of Canada (Bernard 2015)estimates that the average household would save close to $1000 in 2015. This has a direct impact on the Canadian total CPI basket in which gasoline account for about 5% of totalRead MoreDoes Oil Price Shocks Affect Business Cycles?994 Words   |  4 Pagesthat oil price shocks affect business cycles, triggering a detrimental effect on the economic activity of some countries when they rise and a favourable effect when they fall. One instance could be the U.S., where the data suggests that most recessions after 1973 have been headed by oil price increases, which is often taken as evidence of recessions being caused by oil price shocks. This brings up to question through which channels oil price shocks might be transmitted to economic activity, to whatRead More Is Oil A Blessing Or A Curse?1521 Words   |  7 PagesIntroduction Is oil a blessing or a curse? This report will be focusing on the above question to determine how both the rise and fall in the prices of oil has affected the aggregate demand and aggregate supply of a nation that relies solely on oil for its revenue. The report would clearly shows the Aggregate Demand (AD) Curve in respect to its effects on the oil-exporting nation, United Kingdom. The cause of oil prices drop and impacts of the economy due to shift of the AD and will demonstrateRead MoreOil Prices and Economic Growth1250 Words   |  5 Pagesexceptional importance of the crude oil in the supply of the worlds energy demands, it has become one of the major indicators of economic activities of the world. Even after the appearance of alternate forms of energy like solar power, water and wind, the importance of crude oil as the main source of energy still cannot be denied. This sharp increase in the world oil prices and the volatile exchange rates are generally regarded as the factors of discouraging economic growth. Particularly, the veryRead MoreOil Prices and Economic Growth1255 Words   |  6 Pagesexceptional importance of the crude oil in the supply of the worlds energy demands, it has become one of the major indicators of economic activities of the world. Even after the appearance of alternate forms of energy like solar power, water and wind, the importance of crude oil as the main source of energy still cannot be denied. This sharp increase in the world oil prices and the volatile exchange rates are generally regarded as the factors of discouraging economic growth. Particularly, the veryRead MoreMicroeconomics Issues of Rising Oil and Gas Prices: Analysis of Two Articles690 Words   |  3 Pages the price of gas in the U.S. has been on an upward trend. Taking into consideration recent happenings on the international scene, this trend could have been triggered by many different factors. The articles I make use of in this case discuss the rising oil and gas prices. Discussion While the first article I concern myself with predicts an increase in gas prices, the second article confirms an increase in the price of oil. From the onset, the first article, titled Increased Gas Prices? DontRead MoreThe Importance of Crude Oil Essay1251 Words   |  6 Pagesexceptional importance of the crude oil in the supply of the worlds energy demands, it has become one of the major indicators of economic activities of the world. Even after the appearance of alternate forms of energy like solar power, water and wind, the importance of crude oil as the main source of energy still cannot be denied. This sharp increase in the world oil prices and the volatile exchange rates are generally regarded as the factors of discouraging economic growth. Particularly, the veryRead MoreEffects Of The Oil Prices On The Economy1709 Words   |  7 Pages Evaluation of the effect of the oil prices on the economy. Introduction: From many decades oil is discovered and considered as the essential base in every part of people lives. It is the energy source and raw material that drives development. Oil is currently the most important commodity (EL-Sarif et. al. 2005). It is vital to transport (air, sea, road and rail) and also the production of goods for example, tar and plastic. With the demand for energy has risen relentlessly over the last 150Read MoreEconomic Growth And Saudi Arabia1733 Words   |  7 PagesEconomic Growth in Saudi Arabia Saudi Arabia has an economy that is largely dependent on oil, with the government maintaining the biggest control over the country s significant economic activities. Saudi Arabia owns about 16% of the global oil reserves and is the number one exporter of oil (Saudi Arabia, 2013). In addition, the Kingdom of Saudi Arabia was instrumental in the formation of the OPEC (Organization of the Petroleum Exporting Countries) group, which initially comprised Iraq, VenezuelaRead MoreThe Price Of Oil Prices1096 Words   |  5 PagesSince summer 2014, the price of oil in the global market has drastically fallen. As measure by the U.S dollar, oil price has declined by around 50 percent from last year. The declining oil price is widely deemed as the effects of the increasing oil supply and decreasing demand in the global market among other factors. Future pricing predictions indicate that the price of oil will hardly be restored the level it was in recent years. The focus of this paper is to descr ibe how the basic supply and demand

The Original International Personality Item Pool - 1024 Words

The original International Personality Item Pool (IPIP) focused on Goldberg’s 100-adjective markers of the psycholexical FFM structure (Goldberg, 1990/1992). The current IPIP-50 is a 50-item prototype public domain (the NEO-PI-R is a commercial questionnaire) personality questionnaire (Goldberg et al., 2006; Goldberg, 2011). Since the questionnaire is free of charge over 600 different studies have employed it (Goldberg, 2016). Until 2005 the IPIP big-five factor markers lacked validating evidence, but research conducted in 2005 found that the IPIP-50 had a high internal consistency and related strongly to both Costa and McCrae’s NEO-FFI and Eysenck’s EPQ-R Short Form (Gow et al., 2005). In addition, Gow et al. (2005) found that although Intellect and Openness related less strong, it was still 0.59. A study carried out in New Zealand found that there was hardly any evidence to suggest hidden biases at the item or scale level of the IPIP-50 (Guenole Chernyshenko, 2005). Before looking at the research examining the relation between the FFM and EI, this literature review first presents some of the current findings in EI. Although intelligence has been studied for over a century, the study of emotional intelligence is relatively new in comparison. One commonly used definition of EI is ‘the ability to understand your own emotions and those of people around you’ (Maltby et al., 2010, p. 392). There are four main models are: The Salovey Mayer, and Caruso model (Mayer Salovey,Show MoreRelatedA Brief Note On The International Personality Item Pool1139 Words   |  5 PagesAddendum to Literature Review Surveying Personality Traits The International Personality Item Pool, abbreviated IPIP, was originally conceptualized as a component of a project by Wim K. Hofstee at the University of Groningen in the Netherlands (International Personality Item Pool, n.d.). Hofstee and his fellow researchers sought to create items for personality based â€Å"on short, concrete behavioral phrases [which] would be less subject to idiosyncratic interpretation than ratings on relatively abstractRead MoreThe Literacy And Understanding Of The Inuit Children1492 Words   |  6 Pageswhether different personalities can be or cannot be observed in a group of pre-teens from the Inuit children from northern Canada who will be fluent in the Inuktitut language. The questionnaire will be prepared based on the level of literacy and understanding of the Inuit children. The SPSS software will be used to assess the Big Five (Five Factor Model) Personality Factors (Costa McCrae, 1995). The questionnaires will be translated in the Inuit langu age and will be consisting of 25-items with a 5 pointRead MoreExpanding Successfully in the Global Marketplace Essay2279 Words   |  10 Pagesindividuals/social groups will behave the same regardless of geographic location (Prasso, 2007). According to Hofstede McCrae (2004) national culture differences in work-related values and personality traits â€Å"interact to shape the behavior of individuals and social groups†. By researching and understanding how various personality traits within the national culture interact, valuable insights for effectively outsourcing to India can be determined. In order to expand successfully in a global marketplace,Read MoreHofstede’s Limitations14637 Words   |  59 Pagesglobalization and its concomitant increase in international trade and communication. The increase interest in cross-cultural issues was largely triggered by Hofstede‟s book â€Å"Culture‟s Consequences,† published in 1980 and proved to be one of the field‟s most influential works. Although other models of cultures had been offered earlier (e.g., England, 1967; Haire et al., 1966), Hofstede‟s study was the first one to be conducted based on a large international sample and to employ relatively advanced, forRead MoreMandarin Oriental Hotel4620 Words   |  19 PagesMandarin Oriental Hotel, Bangkok Mandarin Oriental, Bangkok is a five-star hotel in Bangkok owned in part and managed by Mandarin Oriental Hotel Group. Located on the banks of the Chao Phraya River, the original structure was the first hotel built in Thailand when it opened as The Oriental in 1879. Today, the hotel is one of two flagship properties of Mandarin Oriental Hotel Group and is known for service, which consistently places it among the worlds best hotels Background and History WhenRead MoreMandarin Oriental Hotel4629 Words   |  19 PagesMandarin Oriental Hotel, Bangkok Mandarin Oriental, Bangkok is a five-star hotel in Bangkok owned in part and managed by Mandarin Oriental Hotel Group. Located on the banks of the Chao Phraya River, the original structure was the first hotel built in Thailand when it opened as The Oriental in 1879. Today, the hotel is one of two flagship properties of Mandarin Oriental Hotel Group and is known for service, which consistently places it among the worlds best hotels Background and History When SiamRead MoreRosewood Hotels1873 Words   |  8 PagesThe new strategy should also not undercut the distinctiveness of each individually branded hotel. In the analysis, Rosewood’s ADR and RevPAR were superior to the corporate-branded groups namely Four Seasons Hotels and Ritz-Carlton (Marriott International). Rosewood also fared better than Orient-Express Hotels, another individual-branded hotel group. The results make the argument for corporate branding difficult to justify as the current individual-branded strategy places Rosewood ahead of theirRead MoreEntrepreneurial Spirit Among East Asian Chinese9960 Words   |  40 PagesEntrepreneurial Spirit among East Asian Chinese Swee Hoon Ang s Don G. P Hong . Executive Summary This research showed that entrepreneurial spirit among East Asian Chinese youths is predicted by personality characteristics such as risk-taking propensity, persistence, and internal locus of control, as well as by motivational factors such as love for money and desire for security. Generally, these characteristics are not prevalent in an East Asian culture. The underlying predictors, howeverRead MoreSentence Completion Test5817 Words   |  24 PagesJOURNAL OF PERSONALITY ASSESSMENT, 74(3), 371–383 Copyright  © 2000, Lawrence Erlbaum Associates, Inc. Sentence Completion Tests: A Review of the Literature and Results of a Survey of Members of the Society for Personality Assessment Margot Holaday, Debra A. Smith, and Alissa Sherry Department of Psychology University of Southern Mississippi Test usage surveys consistently find that sentence completion tests (SCTs) are among the most popular personality assessment instruments used by practitionersRead More Emotional intelligence: The rapprochement of reason and emotion5515 Words   |  23 Pagesas the five key components of emotional intelligence: knowing emotions, managing emotions, motivating oneself, recognizing emotions in others, and handling relationships. Goleman attributes varying sets of personality attributes to each component, the final effect being that most of personality is covered by his definitions. Towards the end of his book, he claims â€Å"there is an old-fashioned word for the body of skills that emotional intelligence represents: character† (p. 285). As such, variations

Advantages and Disadvantages of Employee and Union...

Managers are paid to manage and they should be free to do that without interference. Critically evaluate in regards to one aspect of the Employment Relationship. Managers are paid to represent the owner with responsibilities to operate the business efficiently and to manage the employees effectively, in order to achieve the best profit and productive of the business. Since they are the agent of the owner and entitled with exclusive power – managerial prerogatives, they are playing an important role in managing all workplace assets. With appropriate uses of control and employees (Loudoun, McPhail Wilkinson 2009) can be beneficial to facilitate the business operation as well as to achieve the best outcome for the business. Although†¦show more content†¦Unions represent employees to voice up their concerns and negotiate with management for their better benefits and rights. Also, unions also help managers to communicate with employees and provide them a wide range of information services through networking and consultancy advice (McGuire, McGuire Sanderson 2013). On the other hand, many managers are inadequately trained and supp orted to manage and discharge the human resources duties (McGuire, McGuire Sanderson 2013), lead to the lack of channels and strategies to solve the employees’ difficulties and concerns. Therefore consulting with human resources specialist is in needed for managers, which can enhance and help with implement more human resources approach in the workplace. In contrast, some managers think excessive employee participation will leads to ever growing needs of employee and strict managerial prerogative (Loudoun, McPhail, Wilkinson, 2009) without negotiation is needed. Also, as well as achieving the best objectives and profit for the business, they are even sometimes maintain in a strong control of the workplace and pressure on the employees ensuring the efficient operation due to economic crisis or business loss. Managerial prerogative is derived from the manager/employer’s power onto the labour contract and the ways of operation, in order to achieve the employer’s fulfillment and reduce the business risk (PapadimitriouShow MoreRelatedEmployment Relations1389 Words   |  6 PagesHow would you characterise employee representation in the UK workplace? To what extent do you agree with the argument that the UK is ‘lightly regulated’ in this regard? Introduction This paper seeks to analyse the characteristics of employee representation in the UK and concerns about is the UK ‘lightly regulated’ in regard of the employee representation. Employee representation can be known as the right of workers to seek a union or an individual to represent them to negotiate with their organizationsRead MoreEmployee Voice And Its Links With Organizational Performance1637 Words   |  7 PagesIn today’s dynamic and constantly evolving business world, employee voice is becoming increasingly important. Nita Clarke, the director of the Involvement and Participation Association (IPA), stated at the launch of the report ‘Releasing Voice for Sustainable Business Success’ in 2012, that unleashing and releasing employee voice is essential in developing economic growth. What exactly is employee voice? Employee voice does not have a formal definition and has been explained in different ways byRead MoreThe Aspects Of Conflict Within The Workplace870 Words   |  4 Pagesfaced by management in pursuing various employment relations strategies†. The framework consists of three approaches the employees can face: Avoidance, Accommodation and cooperation. All three approaches can advantage and disadvantage the organisation in different aspects. Human resources managers must strategically analysis the most suitable approach for their organisation. The cooperation approach is when employees can â€Å"pursue strategies that promote high levels of cooperation with unions throughRead MoreDefinition Of Employee s Voice Lies Through The Exit Voice Loyalty Framework Created By Hirschman1210 Words   |  5 Pageswithdraw their participation in the task and exit organization, others, with more loyalty, would raise their voice to keep companion with organization and fight for what they believe is the true and ethical which contribute to the success of an organization. This model has been use as the basis for the research of Freeman and Medoff (1984) which explain the rise of unionism in the UK in the 1980s. The authority, in those days, promoted the creation of unions as a mean to build collective employee voice inRead MoreThe Success of Participative Management Essay1031 Words   |  5 PagesParticipative management is a management practice where employees are involved in making decisions that directly affect how they perform their jobs. It is a management practice that originated from Western countries but it is now globally accepted and practiced. Participative management is more like industrial democracy because workers are incorporated in the decision making process in the organization (Business Dictionary, 2014). According to Aswathappa, (2005) a number of successful companies haveRead MoreWhy Job Design Is An Effective Mechanism For Providing Employees Voice1713 Words   |  7 Pagesorganizations. Besides affecting employee behavior and s atisfaction, the way a job is designed also impacts performance and thus overall well-being of the organization. Being an essential link between employees and organization, job design could possibly be an effective mechanism to provide employees voice. Employee voice is â€Å"the participation of employees in influencing organizational decision-making† (Davis, E.M, Lansbury, R.D, 1996). Employee participation consists of employee engagement and empowermentRead MoreThe Role of Labor Unions1361 Words   |  5 Pagesï » ¿Role of Unions Based upon your research into the field do you believe the role of unions in the U.S. should increase? What role should HRM personnel play in employee relations within Organizations? What role should government play?   Contents Introduction 3 The Advantages of Labor Unions 3 The Disadvantages of Labor Unions 4 The Role of HR 5 The Role of Government 5 Conclusion 7 References 8 Introduction Labor unions were a necessary result of the Civil War as a resultRead MoreEmployment Relations Assignment : The Work Of Trade Unions1481 Words   |  6 Pagesjoin a union when they get their first real job. Critically evaluate†. The work of trade unions is aimed at educating and protecting the rights of employees and their working conditions. However, decline in union membership is a growing international problem, with the reasonable assumption that workers will be more successful in their fight for decent conditions if the have a collective organisation behind them (Furaker and Bengtsson, 2013). It’s supported that when management showsRead MoreTrade Union1470 Words   |  6 Pagesyear 11s WHAT IS A TRADE UNION? Trade unions are organizations that represent people at work. They consist of workers and union leaders, united to promote and protect their interests. Trade unions exist because an individual worker has very little power to influence decisions that are made about his or her job. By joining together with other workers, there is more chance of having a voice and influence. THE DIFFERENT TYPES OF TRADE UNIONS. * CRAFT UNION: A union representing workers whoRead MoreSouthern Engineering, Inspection And Insurance Company1423 Words   |  6 Pagestanks in industries. It is among the oldest insurance companies in America that deals with inspection of equipment and insurance for manufacturing and transport sectors. Current Environment It is found that SEIIC’s operations are in the European Union and Asian countries. SEIIC has experienced some Human resource problems such as having difficulty hiring skilled people to work for them and keeping up to date with their skills. â€Å"The organization has even tried to recruit the locals but to no success

When in Rome, Do as the Romans Do free essay sample

â€Å"When in Rome, do as the Romans do† is the famous axiom of St Ambrose, the very famous bishop of Milan in the 4th century. He advises that people should follow the traditional customs and decency of country where they choose to live. The knowledge about culture and customs of another country bring many benefits for immigrants. They can know the positive things they should do and the negative things they must avoid. This knowledge also makes them feel more freedom in a strange country.Nowadays, many people have been using this axiom as a motto to achieve the success in their life, especially immigrants and overseas students. However, some people do not agree with this axiom. This essay considers the statement and argues that it is correct. Some people from the opposition force are temporary visitors as overseas students or businessmen and they say it is not necessary for them to follow the customs and behaviour of their hosts. We will write a custom essay sample on When in Rome, Do as the Romans Do or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One of their reasons is since they are always busy with their works, they do not have enough time to learn all the customs and how to behave in the right way in other countries. Moreover, their time spends to study or work overseas is just about two or three years, so it is not matter whether they follow the customs and behaviour of the foreign countries where they live. However, both businessmen and overseas students cannot work or study without communication with local people.Overseas student often must contact with teacher and classmates, while businessmen often do business with local companies or local customers. Therefore, trying to get used to customs will help them to accommodate to new environment. Even if overseas students and businessmen just study and work for a short time in other countries, they still have to understand the local community. It is very helpful for their study and business. Moreover, following the custom shows the respect for local people, and it helps visitors receive the admiration from host.Some immigrants living in other countries still do not have much knowledge about the customs and behaviour of their hosts because they live and work in the area in which most people are from their countries. Therefore, they always follow their own customs and behaviour and they think it is not a need to understand the customs and behaviour of their hosts. In fact, although they only work and live in the area in which most people from their countries, they are still a part of society. They still have to respect and follow the customs and behaviour of the hosts.Furthermore, they cannot isolate themselves from the native people. Following the customs and behaviour of host will help them in integrating with the local community. In addition, knowing and accepting the customs and law of the new country will help them in avoiding mistakes and crimes. Some immigrants believe that following all customs of new countries will provides them more opportunities to find good jobs. However, every country is still remains few customs and behaviour which are unfit with modern life. We should avoid those customs and behaviour.In conclusion, not only temporary visitors but also immigrant should follow the customs and behaviour of their hosts because it helps them accommodate with new environment. In my opinion, following the customs and behaviour of hosts is very important for every overseas student like me. It make students feel more comfortable with new live, they can make friends quickly. Moreover, knowledge about law and custom of new countries, where I will live, help to avoid misunderstanding, mistakes, and crimes. However, immigrant should not follow the old-fashioned customs which are unfit with modern life.