why workers with dangerous jobs are paid

why workers with dangerous jobs are paid (a) Explain why workers with dangerous jobs are paid more than workers with less dangerous jobs The competition in the job market had shown an upward turn when we talk about the opportunities for the job seekers. There are diversified fields for the job seekers who go for the job according to their qualification and experience. But another factor is also very vital when a person seeks a job; his / her own choice regarding environment and the workplace safety is equally important. Some people like to work in office due to the peaceful, neat and clean environment but the same paradise may be hell for others just because they cannot handle the mental stress attached with the office jobs e.g. Accounting, Finance etc. On the other hand some people enjoy the jobs in the field of marketing which would not be accepted by those who like to work in isolation. But there are some jobs which are considered dangerous due to the nature of workplace. Although none of the workers may like to go for the dangerous site but the additional compensation finds attraction of some workers who opt for t he dangerous work. So, keeping in view all these factors the compensation package of the employee can be assessed. Normally the jobs which require higher qualified persons are highly paid than the jobs with lower qualified persons. It is considered that the differential amount paid to the higher educated person in compensation of the additional payment made by the person to get the education. The workplace area and the safety at workplace get a quick attention of the employees to demand extra wages. Smith used the words ‘hardship, ‘disagreeable and ‘dirtiness for the work of colliers in Newcastle to explain why they earned two or three times more than common laborers in Scotland (1976). The table below shows the mortality rate of ten highly dangerous vocations. The statistics have been collected by the Bureau of Labour Statistics. These statistics have been published on CNN referring to an 18 year old logger who was killed on December 3, 2002. It clearly depicts that the risk factor involved in these jobs classifies them in the category of additional compensatory jobs. *Selected occupations had a minimum of 30 fatalities in 2002 and 45,000 employed. According to the table it is clear that the Timber Cutters are facing the most risk and the rate of mortality has been the highest for them. People involved in fisheries are at second in the table with fatality rate of 71.1. Pilots and navigators are at third with the mortality rate of 69.8. According to the table all these people are concerned with working outdoor except the structural metal work which is also carried on outdoor mostly. People involved driving, sailing, or flying the vehicles are all in the list which shows that all the jobs The table above has been plotted as a chart below: The graph above shows clearly that normally there are outdoor jobs which are considered the most dangerous jobs. Therefore people in these jobs need the security and compensation as an attraction to continue doing the job. Employers, therefore offer special allowances and compensations along with medical facility, insurance, housing etc. Not only the risk involved in the jobs but makes it paid higher but there are some other factors as well but keeping our discussion limited to the topic those are ignored here. Some salient factors have been given below which shows why the workers with dangerous jobs are paid more. There is a direct threat to a workers health and life. If a worker gets hurt due to the nature of job, he may loose any part of body and sometimes even the life. Although there are certain health safety policies adopted by the employers for their workers but the worker s are also required to take precautionary measures for the sake of his / her safety. A direct threat to his / her life means a direct threat to his / her dependents as well. Therefore an additional compensation is very much necessary for his / her and his / her family. Different jobs have different health hazards and by implication different life expectancies. Workers in dangerous jobs are assumed to get a higher wage to compensate for the lower life expectancy and by measuring the size of that premium you can get a rough measure of the value of an extra year. It turns out that this calculation gives a strong effect: the benchmark calculation assumes that a ten percent increase in life expectancy will generate a 0.24 percentage points increase in adjusted GDP growth. Although there may not be any physical threat to the worker due to the employers safety policy but still some of them get their nerves trapped by the dangerous workplace environment. In other words the worker needs compensation for the stress and anxiety he has to face due to the workplace. For example army at high peaks is allowed extra allowance for the isolation at glaciers. The dangerous jobs also need a high level of hard work and physical efforts which is normally more than the efforts required in normal physical labour. Therefore an extra physical effort of the workers must be compensated by the employer. The dangerous jobs being offered outdoor normally require the workers leave their homes and get a home sickness allowance against it. So the workers normally get the risk allowance plus the additional home sickness allowance at the cost of leaving their spouse and kids home. Concluding the discussion above, it is evident that the dangerous jobs are facing high risk increasing the life uncertainty of the workers. They need life insurance for their life for their families and dependents. REFERENCES Online Dictionary http://www.merriam-webster.com Solomon. W. Polachek W. Stanely Siebert, Economics of Earnings. Cambridge University Press 1993 Americas most dangerous jobs The top ten most dangerous jobs in America. Les Christie, CNN/Money Contributing Write http://money.cnn.com/2003/10/13/pf/dangerousjobs/ The Human Development Index. A better way of measuring welfare? Notes on Nick Crafts, ‘The human development index and changes in standard of living: some historical comparisons. European Review of Economic History, Vol 1, 1997 http://www.econ.ku.dk/kgp/doc/Lectfrms/the%20human%20development%20index.pdf Wikipadeia, Internet http://en.wikipedia.org/wiki/Compensating_wage_differential Bureau of Labour Statistics www.bls.gov

Title E-books or print books: which do you prefer?

The purpose of this paper Is to present the some basic aspects of e-book and print book. The methodology of this paper Is using the bibliography and the statistics attempts to give some specific analysis about e-book and print book as a whole. The study found a much higher use of e-book over print book, and the trend of personal preference is not only restricted to the group of students but the whole younger generation. The result of this paper offers the individuals a new idea to insider for eBooks purchase.Keywords User preference, Surveys, E-Books, Print books Paper In the contemporary society, it is generally believed that books play an indispensable role in the development of human society. Apart from the print books, there is another kind of books—electronic books, which poses a challenge to the position of paper quality books. However, there is no unanimous consensus on whether the print books should be substituted for the digital books yet. On the one hand, some people think the golden age of print books In gone, and we should pay ore attention to the modern technological products.On the another hand, the view that print books will not be supplanted by electronic books was held by some individuals. As far as I am concerned, I am in favor of the latter's side. Some people have a tendency to choose the print books rather than the eBooks. Here are a few possible reasons for that. For one thing, the tangibility, which gave by the print books, cannot be showed in any aspects of eBooks. Therefore, people usually purchased print books instead of eBooks because they can get a tangible item for their memory y buying a paper printed book.For another thing, print books offer a sense of accomplishment to people. Specifically, consumers believe that they will feel more accomplished when the mass of the book moves from the right side to the left and they know they are almost done. Furthermore, print books afford the people opportunities to use them for other p urposes. In fact, It Is Impossible that one person could use a stack of eBooks to maintain his couch If the leg fell off. In all, some people lust choose the print books as their prefer because that Is what reading Is about to hem.Reading is something like going to a bookstore and browsing through hundreds, maybe thousands, of books to find the right one. Admittedly, the profitable problem is the crucial factor which the E-book producer should mainly concern about. A questionnaire survey was distributed among 27 students at a library and information science school in the USA to find out what users and potential users think about e-books in this transition period, when the US economy has experienced downtime, and the e-book world cannot see profitability In Its business as predicted.Among the 27 survey participants, a third of them has used e-books in the past, mostly reading computer-based e-books without special readers. â€Å"Available around the clock † and â€Å"searchab le † are both chosen and ranked as the most Important reasons. Those who have never used e-books mainly think that eBooks are â€Å"hard to read and browse † or â€Å"need special equipment However. About half of the non- would agree that e-book have its peculiar advantages as a whole. Firstly, one of the most significant aspects is portability. The reason for that is e-book has a smaller illume and less weight than the majority of the printed book.In fact, the worst thing of reading might be that you finishing a book and not having another book to carry on reading due to the lack of your bag's volume. Secondly, another advantage of e-book is a host of books can be made available for your electronic books without worrying about the number of your saved books. Thus, people can bring a digital device with hundreds or even thousands of books stored in your digital books. In conclusion, eBooks are available for purchase and reading at any time and any place with battery re mitting.These aspects of s-book indicate that the individuals tend to purchase e- books when the print and electronic version all are available for them. What's more, the Association of American Publishers reported that the annual growth rate for e- book sales fell abruptly during 2012, to about 34%. (2) That's still a healthy clip, but it is a sharp decline from the triple-digit growth rates of the preceding four years. Another survey conducted by Neurosurgeons. Org suggests that Of the respondents who took the survey, 25. 2 percent indicated that they would â€Å"very likely † arches an reader in the next six months; 36. Percent said that they â€Å"may † purchase an reader; while almost 40 percent indicated that they were â€Å"very unlikely. (3) Of the 7,880 titles that were available in print and e-book, 58 e-book titles were accessed and 2,799 print titles were circulated during the study period. In print and e-book format, 1,688 titles were used. In e-book form at, but not in print, 1,484 titles were used. In print, but not e-book format, 1,125 titles were used. In either format, 3,597 titles were unused. (4) The above three surveys show a trend of the increasing rate of e-book purchase. Personally, I consider the position of paper books is irreplaceable.Not only because it contains a vast number of historic values, but it represents the civilization evolution of human society. From the view of human civilization, print books play a pivotal role in human society. Books have been books have been the cornerstone of our society for centuries, especially after the invention of the printing press – perhaps the most important invention in human history. Len other words, the development of electronic books is advancing at a staggering tempo, ay turn out to be Just another format-an even lighter-weight, more disposable paperback.That would fit with the discovery that once people start buying digital books, they don't necessarily stop purcha sing printed ones. In fact, according to Pew, nearly 90% of e-book readers still read physical volumes. The two forms seem to serve different purposes. However, the transformation from print books to E-books is inevitably popular. Dominique Reach, Publisher and CEO of Successors, said that â€Å"the digital transformation is bringing with it an onslaught of content. In fact, more intent was published last year than ever before.Booker (the ISBN agency) reported that 2009 self-publishing or what they call the non-traditional book publishers drove total book production over 1,000,000 units for the first time-that's over a million books produced last year. Think about that as a reader, an author or a publisher. † (5) In sum, paper books have its unparalleled superiority and so eBooks does. No one knows what the future book market will be. Time will tell whether eBooks are a viable alternative. At the moment, the whole thing is still in its infancy, and a decent

Market Stock And Bond Analysis Example For Free - Free Essay Example

Sample details Pages: 13 Words: 3919 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Capital Market is the market that facilitate buying and selling of securities such as stocks / shares and bonds or debentures. It is a place where business enterprises and governments raise their long term funds. The two major functions of capital market are liquidity and pricing securities. Don’t waste time! Our writers will create an original "Market Stock And Bond Analysis Example For Free" essay for you Create order Capital Market consists of EQUITY MARKETS or STOCK MARKET, which provide financing through the issuance of shares, and enable the subsequent trading thereof and DEBT MARKETS or BOND MARKET, which provide financing through the issuance of bonds, and enable the subsequent trading thereof. The main difference between the two markets is the amount of risk and the return involved with stock and shares. Equity or stock market is governed by high risk and return, while debt market is a bit secured than the equity market. There are two types of capital market i.e. Primary market and Secondary market. Primary market: It is that market in which shares, debentures and other securities are sold for the first time for collecting long-term capital. This market is concerned with new issues. Therefore, the primary market is also called NEW ISSUE MARKET. In this market, the flow of funds is from savers to borrowers (industries), hence, it helps directly in the capital formation of the country. The money collected from this market is generally used by the companies to modernize the plant, machinery and buildings, for extending business, and for setting up new business unit. Secondary Market: The secondary market is that market in which the buying and selling of the previously issued securities is done. The transactions of the secondary market are generally done through the medium of stock exchange. The chief purpose of the secondary market is to create liquidity in securities. Analysis A primary market follows a particular trend, i.e. bull market and bear market. In bull market an investors buy in order to increase capital gains in the future whereas in a bear market an investors anticipate losses thus they are obliged to sell. When the Gross Domestic product and stock prices GDP Price fluctuation is an important tendency of an open market. Secondary market is affected by the change in primary market trend. Analysis and performance of Stocks: Stock Shares or stock are basically the certificate of ownership of the company. These are the one which are traded in the market. There are two types of stock i.e. common stock and preferred stock. Both these stock represent a partial ownership interest in the firm. Preferred stock has certain priority over the common stock they are generally paid fixed dividends. When a company becomes bankrupt they have an advantage of getting paid. Preferred shares do not have nay maturity date thus, they have more interest rate risk than bonds. The stock market is basically the trading groundÂÂ  capital market investmentÂÂ  in the Companys stocks, Derivatives, and other securities. The trading in stock market is either done physically i.e. through the open outcry or through online transactions. An investor can invest i.e. buy or sell any stock as per his choice. Analysis and performance: The analysis of stock is done by considering the fundamental factors i.e. macroeconomics information, industry news and firms financial statements. Stocks are analysed through two different methods of analysis i.e. Fundamental Analysis and Technical Analysis. Fundamental Analysis: This analysis includes the economic, Industry and company analysis of the stock. Economic Analysis: It is generally noted that the stocks performance depends on the market influence that affects all stock indexes such as Dow Jones industrial average and SP 500 stock indexes. While analysing the stock prices the analyst must consider the economic conditions of the market or country. The investor should decide the time when he can invest in stock as per the economic conditions of the nation. The analyst must consider the systematic risk before investing in the stock as the prices of market are highly influenced by the economic conditions. It is important for an analyst to forecast the short tem as wel l as the long term economic conditions before making the investment decision. Short term forecast refers to four to five years ahead whereas long term investment refers to more than five years of the forecasting. The Indexes of Economic Indicators: The economic indicators are classified on the basis of cyclic timings i.e. leading, roughly coincident or lagging. The leading indicators are those time series of data that historically research their high points and low points in advance of total economic activity. Roughly coincident indicators reach their peaks at approximately same time as the economy and lagging indicators reached their turning point when economy has already turned in. To consider the economic factors we should also look into the GDP, disposal income, demographic factors and demand as these also affect the stock process. Industry Analysis: The stocks of different industries react differently to the market condition. Cyclic stocks are more likely to get rec overed than the defensive stock. Cyclic stocks are tied up closely with the economic condition. For Industry analysis one should use the competitive strategy analysis. The key characteristics in an Industry Analysis is done by analysing past sales and past earnings performance of the industry, permanence, attitude of government towards the industry, labour conditions, competitive conditions, Industry life cycle. These are the several factors used for industry analysis. There are quite a lot of external sources of information for industry analysis such as Federal government, Investment services which includes the data in respect to Standards and Poors; the value line, Forbes, trade publications, funk and Scott index. Company Analysis: For the analysis of the stock prices of a company, it is very important to do study about the company. One need to know the performance of the company from last few years, financial analysis of last few years performance, growth rates of the compa ny for last several years. The investor has to analyse the price to book ratio, return on assets and return on equity. The analysts tried to compute and analyse the financial health of the company by the above factors which will help in analysing the stock and value of the company. The analyst should also analyse and forecast the earnings of the company will helps in analysing the return of the stock. The regression and correlation analysis is also done in forecasting. To analyse the performance of the company trend analysis is used which utilizes regression analysis. Technical Analysis of Stock: Technical analysis looks for the recurring patterns of the stock prices and its movement so that the price of the stock can be analysed. The technical analysis is done through wide range of graphs. The graphs used for technical analysis are as under: Line graphs; Bar graphs; Candlestick graphs; Point and figure charts; Market profiles; Moving averages; Oscillators, such as relative strength indicators, stochastics, and moving average convergence and divergence indicators. Charts of Price Patterns: To analyse the stock movements, technicians rely on charts or graphs of price movements and on relative strength analysis. According to the technicians, the prices of stock follow a trend and the prices of the stock are analysed can be recognized by the same. The prices of stock generally depend on the forces of supply and demand which helps the technicians to predict the likely direction of future movements. The stock is analysed through its trendline, which shows the way in which the stock is moving. If demand is increasing more rapidly than supply and the stock shows successively higher low points, it is in an uptrend whereas lower highs indicate that supply is increasing more rapidly, and the stock is in a downtrend. An investor buys a stock when the stock follows an upward trend. Line chart: Line charts are the simplest form of chart. It consists of the line connecting series of points which indicate the prices of the shares. It can be drawn on linear as well as logarithm scale. Logarithm scales are used when the price use through wide ranges. Bar charts: This chart is used to present the economic data. This chart depicts the periodic low and high and closing prices of the stock or security. There is a vertical line which connects the periods high and low prices, with a cross mark indicating the price at the close of the period. This chart is useful in analysing the daily trading of a particular stock. Point and figure chart: This chart helps in depicting the increase and decrease in price of the stock. X represents the prices increase and the O represents the price decline. Xs and Os are never shown in the same column. As soon as there is a reversal in the price of the stock the analysts moves to the next column for a new entry. Candle Stick Chart: This chart shows a stocks open, close, high and low in a modified three dimensional format. Horizontal axis depicts the passage of time whereas vertical axis shows the stock price. The white candles in the chart depict stock advances, with black candle representing declines. The thick portion of an entry is called the real body and the vertical line represents the wick. Risk in the Stock Market The stock market keeps fluctuating. The price movements of the stock are random and it required lot of study and analysis to study the performance of the stock. They are quite vulnerable to the economic conditions, speculation, press release, rumors and mass panic. The stock market prices may be very volatile due to the occurrences of the fast market changing events. Analysis and performance of Bonds: Bond A bond is a debt capital market instrument issued by a borrower, who is then required to repay to the lender/investor the amount borrowed plus interest, over a specified period of time. Bonds are also known as fixed income instruments, or fixed interest instruments in the sterling markets. Usually bonds are considered to be those debt securities with terms to maturity of over one year. Debt issued with a maturity of less than one year is considered to be money market debt. There are many different types of bonds that can be issued. The most common bond is the conventional (or plain vanilla or bullet) bond. This is a bond paying regular (annual or semi-annual) interest at a fixed rate over a fixed period to maturity or redemption, with the return of principal (the par or nominal value of the bond) on the maturity date. All other bonds will be variations on this. A bond is therefore a financial contract, in effect an IOU from the person or body that has issued the bond. Unlike sha res or equity capital, bonds carry no ownership privileges. An investor who has purchased a bond and thereby lent money to an institution will have no voice in the affairs of that institution and no vote at the annual general meeting. The bond remains an interest-bearing obligation of the issuer until it is repaid, which is usually the maturity date of the bond. The issuer can be anyone from a private individual to a sovereign government. Bond investment is different from that of stock investment. Bond investment is investing in the debt instrument that is issued by a company or government. The bond investor is actually lending money to the company while in return is promised to be paid the full principal amount plus a fixed periodic payout. The yield on the bond is calculated by putting together the final principal and total payouts received. The yield is the effective interest rate for the tenure of the bond. Analysis and performance of bond: For the analysis of bonds several arithmetical methods are used. The concepts of simple and compound interest, time vale of money, future and present value of bonds or securities are used to analyze the bonds. Simple and compound interest The value of money what we invest or receive today is not the same as we get in future. The amount of money will be different as the amount invested will bear a rate of interest. Through the different rate of interests given on a particular security using the time value one can analyse the future of the money invested. Simple interest A loan that has one interest payment on maturity is accruing simple interest. On short-term instruments there is usually only the one interest payment on maturity, hence simple interest is received when the instrument expires. FV = PV(1 + r) (2.1) Where, FV is the terminal value or future value PV is the initial investment or present value r is the interest rate. Compound Interest A loan has different interest amount on maturity. The principle amount is compounded and the interest is applied on the compounded amount. FV = PV (1 + r)n where r is the periodic rate of interest (expressed as a decimal) n is the number of periods for which the sum is invested. Time value of Money: The concept of time value of money is applied to analyze the present and the future value of the bond or any other security. Present value can be calculated when the future value of the amount is given along with the rate of interest or vice versa. Bond Indices Bonds are always approaching in maturity, and because some are redeemed early, the set of bonds in a basket changes more frequently than the shares in an equity index. Considering a hypothetical international ten-year benchmark index, as a bond falls to less than say eight years maturity, it may be replaced by the current ten-year benchmark bond. This will have different risk characteristics to the bond it replaced and will trade differently in the market as a result. As the constituents of a bond index have to change more frequently, we may not always be comparing like-for-like when we consider historical index values. There is also the issue of bond coupon payments, which make up a significant proportion of a bonds overall return, and which must therefore be incorporated in the index valuation. Nevertheless bond indices are important for the same reason that equity indices are, and form the benchmark against which fund managers performance is measured. Price of Bond: Price of a bond is equal to the present value of its cash flows. A vanilla bonds cash flows are the interest payments or coupons that are paid during the life of the bond, together with the final redemption payment. It is possible to determine the cash flows with certainty only for conventional bonds of a fixed maturity. So for example, we do not know with certainty what the cash flow are for bonds that have embedded options and can be redeemed early. The coupon payments for conventional bonds are made annually, semi-annually or quarterly. Some bonds pay monthly interest. Therefore a conventional bond of fixed redemption date is made up of an annuity (its coupon payments) and the maturity payment. If the coupon is paid semi-annually, this means exactly half the coupon is paid as interest every six months. The interest rate that is used to discount a bonds cash flows (therefore called the discount rate) is the rate required by the bondholder. It is therefore known as the bonds yield. The yield on the bond will be determined by the market and is the price demanded by investors for buying it, which is why it is sometimes called the bonds return. The required yield for any bond will depend on a number of political and economic factors, including what yield is being earned by other bonds of the same class. Yield is always quoted as an annualised interest rate, so that for a semi annually paying bond exactly half of the annual rate is used to discount the cash flows. The fair price of a bond is the present value of all its cash flows. Therefore when pricing a bond we need to calculate the present value of all the coupon interest payments and the present value of the redemption payment, and sum these. In most markets bonds are generally traded on the basis of their prices but because of the complicated patterns of cash flows that different bonds can have, they are generally compared in terms of their yields. This means that a market-maker will usually qu ote a two-way price at which she will buy or sell a particular bond, but it is the yield at which the bond is trading that is important to the market-makers customer. This is because a bonds price does not actually tell us anything useful about what we are getting. Remember that in any market there will be a number of bonds with different issuers, coupons and terms to maturity. Even in a homogeneous market such as the gilt market, different gilts will trade according to their own specific characteristics. To compare bonds in the market therefore we need the yield on any bond and it is yields that we compare, not prices. A fund manager quoted a price at which she can buy a bond will be instantly aware of what yield that price represents, and whether this yield represents fair value. So it is the yield represented by the price that is the important figure for bond traders. For analysing the yield one need to calculate the current yield, simple yield to maturity, yield to maturity. Price/Yield Relationship Plain vanilla bonds the coupon is fixed, therefore it is the price of the bond that will need to fluctuate to reflect changes in market yields. It is useful sometimes to plot the relationship between yield and price for a bond. A typical price/yield profile is a convex curve. To reiterate, for a plain vanilla bond with a fixed coupon, the price is the only variable that can change to reflect changes in the market environment. When the coupon rate of a bond is equal to the market rate, the bond price will be par (100). If the required interest rate in the market moves above a bonds coupon rate at any point in time, the price of the bond will adjust downward in order for the bondholder to realise the additional return required. Similarly if the required yield moves below the coupon rate, the price will move up to equate the yield on the bond to the market rate. As a bond will redeem at par, the capital appreciation realised on maturity acts as compensation when the coupon rate is low er than the market yield. Yield-to-maturity yield curve The most commonly occurring yield curve is the yield to maturity yield curve. The curve itself is constructed by plotting the yield to maturity against the term to maturity for a group of bonds of the same class. Bonds used in constructing the curve will only rarely have an exact number of whole years to redemption; however it is often common to see yields plotted against whole years on the x-axis. This is because once a bond is designated the benchmark for that term, its yield is taken to be the representative yield. The yield to maturity yield curve is the most commonly observed curve simply because yield to maturity is the most frequent measure of return used. Since market rates will fluctuate over time, it will not be possible to achieve this (a feature known as reinvestment risk). Only zero-coupon bondholders avoid reinvestment risk as no coupon is paid during the life of a zero-coupon bond. The yield to maturity yield curve does not distinguish between different payment pa tterns that may result from bonds with different coupons, that is, the fact that low-coupon bonds pay a higher portion of their cash flows at a later date than high-coupon bonds of the same maturity. The curve also assumes an even cash flow pattern for all bonds. Therefore in this case cash flows are not discounted at the appropriate rate for the bonds in the group being used to construct the curve. To get around this bond analysts may sometimes construct a coupon yield curve, which plots yield to maturity against term to maturity for a group of bonds with the same coupon. This may be useful when a group of bonds contains some with very high coupons; high coupon bonds often trade cheap to the curve, that is they have higher yields, than corresponding bonds of same maturity but lower coupon. This is usually because of reinvestment risk and, in some markets (including the UK), for tax reasons. The coupon yield curve The coupon yield curve is a plot of the yield to maturity against term to maturity for a group of bonds with the same coupon. If we were to construct such a curve we would see that in general high-coupon bonds trade at a discount (have higher yields) relative to low-coupon bonds, because of reinvestment risk and for tax reasons. It is frequently the case that yields vary considerably with coupon for the same term to maturity, and with term to maturity for different coupons. Put another way, usually we observe different coupon curves not only at different levels but also with different shapes. Distortions arise in the yield to maturity curve if no allowance is made for coupon differences. For this reason bond analysts frequently draw a line of best fit through a plot of redemption yields, because the coupon effect in a group of bonds will produce a curve with humps and troughs. The figure below shows a hypothetical set of coupon yield curves, however since in any group of bonds it i s unusual to observe bonds with the same coupon along the entire term structure this type of curve is relatively rare. The par yield curve The par yield curve is not usually encountered in secondary market trading, however it is often constructed for use by corporate financiers and others in the new issues or primary market. The par yield curve plots yield to maturity against term to maturity for current bonds trading at par. The par yield is therefore equal to the coupon rate for bonds priced at par or near to par, as the yield to maturity for bonds priced exactly at par is equal to the coupon rate. Those involved in the primary market will use a par yield curve to determine the required coupon for a new bond that is to be issued at par. This is because investors prefer not to pay over par for a new-issue bond, so the bond requires a coupon that will result in a price at or slightly below par. The par yield curve can be derived directly from bond yields when bonds are trading at or near par. If bonds in the market are trading substantially away from par then the resulting curve will be distorted. It is then necessary to derive it by iteration from the spot yield curve. As we would observe at almost any time, it is rare to encounter bonds trading at par for any particular maturity. The market therefore uses actual non-par vanilla bond yield curves to derive zero-coupon yield curves and then constructs hypothetical par yields that would be observed were there any par bonds being traded. Risk in the Bond Market Capital market risk in the bond market arises due to interest rate changes. There is an inverse relationship existing between the interest rate and the price of the bond. Hence the bond prices are sensitive to the monetary policy of the country as well as economic changes. Summary

The Death Penalty and Juveniles - 2945 Words

The Death Penalty and Juveniles CJA433 The Death Penalty and Juveniles In the United States, the death penalty is an issue because of its controversies. Some people see it as a punishment. Some people say â€Å"an eye for an eye,† and believe this is the way to stop youth offenders from following the path of crimes such as murders. This does not only pertain to the youth but also to the adults. Others believe the death penalty to be cruel and unusual punishment even for the adults. In the law, juveniles are no different when considering the death penalty. These people believe a juvenile should be sentenced to death for murder. Then there are those who believe juveniles should not be sentenced to death. Proposal The intent of this†¦show more content†¦This will give proof rehabilitation could work or no longer works on prisoners regardless of race, religion, background and poverty level. The system itself should be classified as failures. All inmates treated the same and when evaluations come up all areas in an inmate’s time in prison should be examined. Social therapy, exercise, basically all aspects would need to be controlled to have uniformity and equal opportunity. To make sure all prisoners have the chance to rehabilitate and make a possible future if the death penalty were to not be an issue. The death penalty will be at the forefront of all issues with the young criminals until someone sees how he or she do with the rehabilitation and make it known there is hope for our youth. There would be variable differences from model inmates to the mad dog killer type of criminals and all personalities in the middle. The types of personalities are different before entering the criminal justice system. There is no way to control the effect if all subjects are treated equal then the effects would be minimal. If all inmates have the same effects then the system may be flawed. Inmates are different no matter what crim e they have committed they have to be treated for each individual case. If all are treated the same you will not know how to protect or how they are going to actually act toShow MoreRelatedThe Death Penalty For Juveniles946 Words   |  4 Pages The death penalty for minors differs greatly from the death penalty for adult. The law that minor could be put on death row was decided to rule against the eighth amendment. The eighth amendment prohibits the act of â€Å"cruel and unusual punishment† which putting minors on death row breaks. On March 4, 2005 the law that minors could not be put on death row for their actions was set into place. The new laws say, â€Å"They cannot punish a minor by death penalty and they cannot punish someone for a crimeRead MoreThe Death Penalty For Juveniles1169 Words   |  5 PagesResearch Paper: Death Penalty for Juveniles Capital punishment for juveniles is one of the most controversial topics to ever be explored in society and in the criminal justice system. The death penalty is a rare occurrence amongst juveniles since it is so arguable as to whether they should be tried as adults. Lynn Cothern from the Juvenile Justice Resource Center suggests that â€Å"the primary purpose of the juvenile justice system is to hold juvenile offenders accountable for delinquent acts whileRead MoreJuvenile and the Death Penalty1817 Words   |  8 PagesENG101 Dr. Ankerberg March 6, 2007 Essay #2 Juveniles and the Death Penalty Today, minors are using their age as a shield against capital punishment. Adolescents believe that since they are not eighteen they will not be punished for the crimes they commit. The death penalty is appropriate for juveniles in certain circumstances, such as murder and brutal crimes that are considered capital offenses. The rate at which the death penalty is carried out, as well as inconstancies in sentencingRead MoreJuveniles and The Death Penalty Essay1604 Words   |  7 PagesJuveniles and The Death Penalty *No Works Cited One of the most controversial issues in the rights of juveniles today is addressed in the question, Should the death penalty be applied to juveniles? For nearly a century the juvenile courts have existed to shield the majority of juvenile offenders from the full weight of criminal law and to protect their entitled special rights and immunities. In the case of kent vs. United states in 1996, Justice Fortas stated some of these special rightsRead MoreJuvenile Death Penalty Essay1353 Words   |  6 PagesJuvenile Death Penalty One of the most controversial questions in the juvenile justice system today is, Should the death penalty be applied to juveniles?†. A lot of people think that the death penalty for juveniles is cruel and unusual punishment and should only be used for adults. The crimes that juveniles commit are as dangerous and as violent as adult crimes. People argue that the adolescent brain does not mature until the late teens or early twenties, and that death penalty should not be theRead MoreEssay on Juvenile Death Penalty1824 Words   |  8 PagesDeath at 18? One of the most controversial issues in the country today is addressed in the question, Should the death penalty be applied to juveniles, and if so how young is too young? The death penalty has been in the United States for many, many years, and the United States still has yet to figure out how to solve all its dilemmas and whether or not the penalty is right or wrong. Debates about the use of the death penalty for juveniles have grown more intense because of the recent demand forRead MoreEssay on Juvenile Death Penalty3656 Words   |  15 Pagesunconstitutional to sentence a juvenile under the age of 18 to the death penalty. Before, Roper v. Simmons, in Thompson v. Oklahoma it had been decided that only those under the age of 16 could not be considered for the death penalty. Were these decisions correct? If an adolescent can commit such a heinous crime as homicide should they not also be able then to handle the consequences? The other side of the argument against the juvenile dea th penalty states that juveniles do not have the same reasoningRead MoreEssay on No Death Penalty for Juveniles2164 Words   |  9 Pagesthat the death penalty is, â€Å"the punishment of execution, administered to someone legally convicted of a capital crime.† Capital crimes array from murder to drug trafficking. In the United States the death penalty is mostly administered towards first-degree murder, with non-murder crimes varying by state. â€Å"Currently, only 58 nations actively practice the death penalty, with 96 countries having abolished it, the remainder have not used the death penalty for 10 years or only allow for death in exceptionalRead MoreThe Juvenile Death Penalty: A Case For It1583 Words   |  7 Pagesschool with a 3.5 accumulative grade point average, pulling a 4.0 grade point average from the time of my expulsion on. I walked across the same stage as the athletes, the band geeks, the book worms and the teacher’s pets. An expelled student with a juvenile record walked across the same stage as the full ride scholarship earners and the Valedictorians. Today, I am attending the University of Northern Colorado, double majoring in Criminal Justice and Psychology. I received a 3.4 grade point average myRead More Death Penalty Applied to Juveniles Essay1684 Words   |  7 PagesDeath Penalty Applied to Juveniles   Ã‚  Ã‚  Ã‚  Ã‚  In 1643 a sixteen year old boy was put to death for sodomizing a cow. Three hundred and fifty years later, sixteen states have legitimized the execution of juveniles. Four of those twelve states have lowered the legal age of execution to twelve. For whatever reasons the death penalty has been supported by the public since this countrys existence. In this day and age of increasing violence, both juvenile and adult, it is time to re-examine the use