Anthropogenic climate change and its effects Research Paper

Anthropogenic climate change and its effects - Research Paper Example Despite the fact, that many European and Western countries have ensured strict measures against growing population yet many Asian, African and Latin American countries in the world have failed to understand the same (DiMento & Doughman, 2007). Despite the fact that these people present great opportunities for the nations in form of young working people, youth, which is full of energy, and contribute to overall economic growth of country; however, on a global basis, every human is brining with himself the potential to create more pollution and climatic damage to the planet earth (Hansjurgens & Antes, 2008). As mentioned earlier that this is one of the toughest choices because by restricting their populations these underdeveloped countries will put a brake on their future development and growth since without work force the same would not be possible. However, in order to ensure that the planet is face, it is important to undertake this decision (Bulkeley & Betsill, 2005). One of the bi ggest sources of pollution and climatic change has its roots in the greed of humankind in electricity generation, which not only disturb the atmosphere of earth but also disturbs the land as well. We are quickly running out of the world’s fuel resources and our hunger of exploring more fuels and consuming them is creating more pollutants and dangerous gases (Hoffman & Woody, 2008). Therefore, another decision would be to use solar energy all over the world to meet the energy requirements of the planet. Estimates indicate that the total energy which can be created by all of sun rays that are aimed at our planet in 24 hours are more than enough to meet the energy requirements of this planet for more than an year (Letcher, 2009). However, for implementing the same many countries will have to divert their funds from other developmental and non-developmental expenses to the creation, manufacturing, and use of solar energy systems (Hansjurgens & Antes, 2008). Furthermore, like the United States and other Western countries, these countries will have to ensure that tax exemptions and other economic measures are taken to pursue people for buying these solar energy panels. Furthermore, it may also require the planning and design of buildings and houses in such a way that they could install these panels on their roofs. In addition, this would also mean that the percentage of new skyscrapers would decrease significantly (Nelson & International Food Policy Research Institute 2009). Rather than building new mega cities, industries and others, nations will have to invest their fortunes in building and growing forests. It will have to give back to this planet what it has taken from the planet. Humankind has cut down billions of trees on this planet for the past couple of centuries to make room for its own buildings, cities and other mega structures. However, this is has created a serious misbalance in the overall atmosphere and ecosystems. By stopping the progress and growth of industries and planting trees instead, nations would be able to play their part in saving the planet (Hoffman & Woody, 2008). Plastic bags pose the biggest threat in terms of environmental degradation. These

Quantitative method for finance Essay Example | Topics and Well Written Essays - 1000 words

Quantitative method for finance - Essay Example 2. Probability models are models that become relevant when the outcome of interest is not continuous (such as wages per week or stock prices) but rather binary in nature such as, work/not work, survive/not survive etc. In such cases, the simplest possible methodology adoptable is that of the linear probability model or LPM. The response variable of interest, say Y takes the values 0 and 1 only and the approach is to model the expected value of this variable as a linear function of the independent predictor variables X: (ii) The variance of y will be dependent on x. That is, the model will suffer from conditional heteroscedasticity. This violates the homoscedasticity assumption of OLS. Thus, even though estimates will still be unbiased, the OLS estimator will not be efficient and the estimated standard error will be biased. (iii) The error terms are also binary. They can only take the values of or and thus cannot be normally distributed. Therefore, the assumption of normality of errors is also violated and this in turn would imply problems for typical inferential procedures. (iv) Finally, due to the binary nature of the dependent variable, diminishing returns cannot hold. Therefore, the functional form restricts the possibility of obtaining diminishing marginal impacts of the independent variable on the dependent variable. 3. (i) If the condition does not hold, then applying OLS is no longer optimum. The assumption implies the error covariances are zero. This is necessary for OLS estimates to have the â€Å"Best, Linear, Unbiased† properties. If the error covariances are not zero, then the assumption of the Gauss-Markov theorem are not satisfied and thus, the OLS estimates are no longer best, although they are still unbiased and consistent. The main problem arises in the context of inferences. 4. (i) If then the series is said to have a unit root. This implies that the series is non-stationary. This essentially translates to the mean and