Financial Intermediaries Assignment Example | Topics and Well Written Essays - 250 words

Financial Intermediaries - Assignment Example A drawback of the approach is that it is hard to observe bank conduct and that the approach excludes foreign banks in the determination of competition (Bell, Brooks and Prokopczuk, 2013 p.197). The Panzar-Rosse H-Statistic relates a firm’s conduct with models of different market structures such as monopoly, monopolistic competition, imperfect competition or perfect competition (Schaeck, Cihak and Wolfe, 2009 p.715). It demonstrates how the elasticity of a firm’s revenue differs under the different market structures. Although the model is quite straightforward under monopoly and perfect competition, imperfect competition, and monopolistic competition pose some complexities for this approach. The H-Statistic also assumes equilibrium for the banking market in the long-run. The Lerner Index uses the relationship between a firm’s price and marginal cost as a basis for the measurement of the firm’s market power. The index is a reciprocal of the price elasticity of demand and indicates the proportion price exceeds marginal cost. A disadvantage of the Lerner index is that it fails to demonstrate the substitutability of a product (Bell et al., 2013 206). The Boone Indicator assesses, in terms of strength, the relationship between efficiency and performance. Accordingly, superior performance is achievable for more efficient banks. Under competitive market conditions, banks show more aggression in order to achieve the superior performance as compared to competitors (Bell et al., 2013 p.206). The Boone Indicator does not share the disadvantages of the H-Statistic and the Lerner Index. It demonstrates the aggression more efficient banks employ in the exploitation of their cost advantage. As a measure of competition, Persistence of Profits proposes that entry and exit provide a sufficient avenue for the elimination of abnormal profits. Accordingly, profit rates for all firms would converge towards some average value in the

Critical inquiry about an aspect of visual culture, about the idea Essay

Critical inquiry about an aspect of visual culture, about the idea change on culture - Essay Example However, through many of the traditions of Mardi Gras exploitation of foreign manufacturing is taking place. The film Mardi Gras: Made in China is a documentary that shows how one of the most sexualized, but constant traditions of Mardi Gras is contributing to the exploitation of Chinese factory workers. The baggage that existed in approaching this topic consists of knowing that there are Chinese workers involved in creating the visual culture of Mardi Gras, creating bold and gaudy beads that are used for a consumer exchange of nudity for cheap products. However, the full understanding of what it means to be a Chinese factory worker was not known before doing research for this project. In watching the documentary Mardi Gras: Made in China the visual presentation of culture by contrasting the wasteful and hedonistic culture of Mardi Gras compared to the austere culture of the factory workers was startling. Young women in Mardi Gras debase themselves by showing their breasts to get che ap beads, a party atmosphere infectious and transforming them into performing this ritual. In China, the stark reality of the young women who work in these factories opens up the eyes of the viewer to what it means to create these beads that are used so carelessly. ... 11). The simple understanding of Mardi Gras is that it is a celebration that comes before the Catholic period of Lent. Mardi Gras means Fat Tuesday, which refers to the tradition of eating rich, fatty foods before Ash Wednesday which begins a period of fasting and reduced pleasure in food. While Mardi Gras itself is celebrated in many cultures and just on that specific Tuesday, in New Orleans it is celebrated for the two weeks before lent which falls in February. The tradition was brought to New Orleans by the French who settled the region. The official colors of the festival, introduced in 1872 by the Grand Duke Alexis Romanoff, are purple which signifies justice, green which signifies faith, and gold which signifies power (Hale, 2007). Mardi Gras is ripe with tradition. Large scale parades are sponsored by ‘krewes’ which are racially and gender specific, making up the rich ethnically diverse history of New Orleasns. The parades are highly visual events with cheap beads , doubloons, and other items thrown each day from the floats. The air is filled with colorful items flying through the air and being caught by people in wild costumes that rival those on the people who populate the floats. Collecting these items during the celebration leads to disposing of them as trash at the end of the celebration. Mardi Gras is a time when sexual and social beliefs are suspended and people begin to behave in hedonistic ways. One of the traditions of Mardi Gras is that in exchange for showing their breasts and sometimes more, men will give women strings of beads. This commoditization of nudity in exchange for the collection of beads creates a