Tourism, as one of the main driving forces of economic development, is exposed to many risks. Besides frequent fluctuations in foreign currency exchange, prices of fuel and transportation, the tourism industry has become more sensitive to weather conditions lately. One of the new instruments which can be efficiently used for weather risk hedging is weather derivatives (forwards, futures, options and swaps on chosen weather variables-temperature, rain, snow, wind etc.). In this paper, we will present the possibility of weather derivatives application in winter tourism-snowfall forwards-in order to hedge the business of ski lift operator company. Our research is based on snowfall data of Kopaonik mountain ski resortand revenues of ski lift operator company. We will show that weather derivatives might be an effective tool for hedging weather risk and reducing the volatility of companies'revenues in the winter ski tourism business in Serbia.
No such thing as oil-price (or any other) cost-push inflation 95 The problem of rigid prices and wages The error of the 'beneficial mild inflation' Responsibility for unemployment would be traced back to trade unions Preventing general deflation XVIII MONETARY POLICY NEITHER DESIRABLE NOR POSSIBLE Government the major source of instability Monetary policy a cause of depressions Government cannot act in the general interest No more balance-of-payment problems The addictive drug of cheap money The abolition of central banks No fixing of rates of interest XIX A BETTER DISCIPLINE THAN FIXED RATES OF EXCHANGE Remove protection of official currency from competition Better even than gold-the 'wobbly anchor' Competition would provide better money , than would government Government monopoly of money unnecessary Difference between voluntarily accepted and enforced paper money XX SHOULD THERE BE SEPARATE CURRENCY AREAS? National currencies not inevitable or desirable Rigidity of wage-rates: raising national price structure is no solution Stable national price level could disrupt economic activity 115 XXI THE EFFECTS ON GOVERNMENT FINANCE AND EXPENDITURE 117 Good national money impossible under democratic government dependent on special interests 117 [6] Government monopoly of money and government expenditure 118 Government money and unbalanced budgets 118 Government power over money facilitates centralisation 120 XXII PROBLEMS OF TRANSITION Preventing rapid depreciation of formerly exclusive currency Introduce new currencies at once, not gradually 122 Commercial bank change in policy XXIII PROTECTION AGAINST THE STATE Pressures for return to national monetary monopolies Recurring governn1.ental control of currency and capital movements XXIV THE LONG-RUN PROSPECTS The possibility of a multiplicity of similar currenCIes The preservation of a standard of long-term debts even while currencies may lose their value New legal framework for banking XXV CONCLUSIONS Gold standard not the solution Good money can come only from self-interest, not from benevolence Is competitive paper currency practicable? 'Free Money Movement' Q,UESTIONS FOR DISCUSSION
Sažetak: U radu se analiziraju narativni postupci u Desničinim pripovetkama Bunarevac i Oproštaj, kao i u završnim poglavljima romana Proljeća Ivana Galeba. Ukazuje se na tanatološki okvir pripovedanja i na postupke koji na višestruki način utemeljuju istorijsku kciju ovih proznih ostvarenja. Pokazuje se razlika u pristupu narativnim poljima tako što se junak u pripoveci Bunarevac konstituiše kao biće izvan ontološke pozicije shvatanja smrti, dok se junaci pripovetke Oproštaj i romana Proljeća Ivana Galeba iz ravni smrti kao nepostojanja prevode u ravan umiranja kao, paradoksalno, konačnog dokaza egzistencije.
The main goal of this work is to identify and analyze the impact of the Chinese economy key determinants on the global market copper price movements. Our research is based on a multilinear regression analysis of the historical data of the time period from 2003 until 2017. The presented multilinear regression model constitutes the 4 (four) statistically most significant macroeconomic variables, that is, determinants of the Chinese economy, which are used for clarifying current trends and can predict the future movements of prices on the global copper market. Statistically significant determinants are the inflation in China, the Chinese export of goods and services, Chinese import of copper, and consumption of refined copper in China. Obtained results of the research show a dominant role of the demand factor and significant influence of the Chinese economy on the movements of the global copper price. At the same time, the results imply that movements of the copper price on the global market can be an indicator of the economic activities slowing down or speeding up, in the countries which are the major traders of this metal.
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