Financial Market Assignment Example | Topics and Well Written Essays - 2500 words

Financial Market - Assignment Example The random walk behavior of macroeconomic aggregates can be produced by a wide variety of complicated behavior at the microeconomic level. If income follows a random walk process, any innovation in income or a change in income due to an economic shock is an unexpected change in permanent income affecting consumption growth. The predictive ability of unexpected permanent or actual growth in income is consistent with permanent income hypothesis (PIH). Within the framework of time-series modeling, it was suggested that the standard test is biased towards finding excess sensitivity when disposable income follows a random walk process. If income follows a random walk, the permanent income equals current income. Assuming that permanent income hypothesis is true and consumption equals income since series contains a unit root, the procedures of standardized testing are not valid. If both consumption and income are de-trended, spurious cycles would be exhibited by both series. Since consumption tracks income perfectly over these transitory cycles, it can be concluded that consumption is excessively sensitive to contemporaneous income. The excess sensitivity of consumption does not provide evidence against the permanent income hypothesis unless the income is shown as not to have properties of random walk. The random walk process is followed by the real disposable income. Actual real disposable income approximates real permanent disposable income which determines household consumption. The origins of random walk process of real disposable income are on the supply side including factors of capital market restrictions, changes in trade, capital accumulation, technological adaptation and innovation, climatic and weather change etc. These supply-side shocks have a long-term impact on income and consumption.

Disseminating-Evidence Project Essay Example | Topics and Well Written Essays - 1500 words

Disseminating-Evidence Project - Essay Example Conversely, induced hypothermia can also occur through non-invasive means, typically involving the use of a chilled water blanket, leg wraps or torso vests placed in direct contact with the skin of the patient. Previously conducted studies indicate that patients with the potential risk for ischemic brain injuries have immense chances positive outcomes when treated with an induced hypothermia protocol (Binks et al. 2010). This paper will examine the medical protocol of induced hypothermia, discussing its inherent advantages on neurological outcomes. The paper will provide an account of induced hypothermia, describing the different protocols and effects of hypothermia on the human brain. The paper will culminate with a comprehensive dissemination plan that entails a roundtable discussion. Since its inception, induced hypothermia protocols have proved quite effective. Background Medical practitioners have applied hypothermia therapeutically since ancient times. The history of induced hy pothermia dates as far back as the Hippocrates era although the first published medical article on induced hypothermia was in 1945. The world’s initial modern doctor i.e. Greek physician Hippocrates endorsed the packing of injured soldiers using ice and snow. Napoleonic surgeon Dominique Jean Larrey observed that officers kept near fire had lower survival chances than officers kept in cold environments. The study first published in 1945 focused on the impacts of hypothermia on patients affected by head injuries. In the mid 20th century, hypothermia obtained its initial medical application used in intracerbal aneurysm surgery with a view to establish a bloodless field. Notably, most of the initial research into induced hypothermia concentrated on the application of deep hypothermia i.e. applications of body temperatures between 20-25 Â °C. This extreme drop in body temperature produces an array of effects that made the application of deep hypothermia quite impractical. The 19 50s also saw intense investigation of mild forms of induced hypothermia, i.e. 32-34 Â °C. During this period, Dr. Rosomoff exemplified in dogs the advantages of mild hypothermia pursuant to a traumatic brain injury or ischemia. Researchers conducted further animal studies in the 1980s showing the capacity of mild hypothermia to function as a general neuroprotectant, especially after obstruction of blood flow to the brain (Sessler, 2005). In 1999, after a skiing accident Anna Bagenholm’s heart stopped beating for at least three hours during which her body temperature was 13.7 Â °C prior to resuscitation. In addition to animal studies, as well as Anna Bagenholm’s misfortune, there have been at least two landmark studies published in 2002 in the New England Journal of Medicine. Both studies demonstrated the benefits of applying mild hypothermia following a cardiac arrest. Subsequently, in 2003, the International Liaison Committee on Resuscitation (ILOR) and the American Heart Association (AHA) endorsed the application of mild hypothermia after cardiac arrest. Presently, a growing number of hospitals worldwide incorporate the recommendations of AHA/ILCOR and embrace hypothermic protocols in their standard care packages for patients who suffer cardiac arrest. Certain researchers further contend that induced hypothermia is a better neuroprotectant after obstruction