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Econometrics refers to developing quantitative methods to analyze economic principles. Theoretical econometrics uses statistical properties while applied econometrics usually applies econometric methods to the various theories. Finance domain is increasingly using the technique like risk management, portfolio management etc.

Econometrics is used in finance to evaluate quantitative problems and uses various techniques like financial models, volatility estimation, capital asset pricing, risk adjusted returns etc. Financial econometrics is viewed as a merger of economics, finance, statistics and applied mathematics. For the various issues in financial world, economics renders theoretical foundation while statistics and applied mathematics using quantitative techniques are used to solve quantitatively. The vast amount of data generated in financial markets on asset returns, volatility usually requires study over a period of time using techniques like time series. Econometrics is widely used for derivative products like options, futures etc.

Regression analysis is one of the primary methods. It usually involves modeling and analyzing various variables to establish a relationship between dependant variable and many independent variables. This technique is useful to understand the changes in the dependant variable to any changes in independent variable. Methods of Moments, Bayesian methods, Generalized Method of Moment etc are other important methods used in econometrics.

The general steps involved in developing an econometric model are:

• Understanding the problem – It involves formulation of a theoretical model to relate two or more variables.

• Collecting data – It involves accumulating relevant data from public domain like Reuters or any published information and also from surveys.

• Selection of method – This step involves choosing an appropriate estimation method like single or multiple equation technique.

• Statistical evaluation – It involves framing assumptions for estimating parameters of the model and analyzing the aptness of the estimates in relation to the data.

• Evaluating the model – The model is then assessed from theoretical perspective.

• Implementation of the model – the model is then used for the identified issue and also for making forecasts. The step also results in courses of action needed.

Econometrics is being widely used in fields including finance and knowledge of its various techniques helps investors manage their portfolios well.

By: Dharmendar Kumar

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New babies are born every day, but it’s still always a big event when one comes along. The rest of the world generally comes to a halt for the parents during the blessed event. This can be even more the case for the baby’s grandparents.

All of the relatives and friends are waiting to hear the good news, and the new parents are delighted to oblige. as often happens during happy events, all of the people involved like to have souvenirs to help them remember it in the years that follow. And since all of these people regard the birth as a big news event, what could be a better souvenir than a newspaper front page that announces the happy occasion?

Unfortunately, most newspapers prefer not to use their front pages to announce local births, but an entrepreneur with a computer and the right software can produce some very slick looking “baby newspapers” for the family and their loved ones to share.

This could be a great opportunity for somebody interested in starting a home based business. What can make a venture like this particularly attractive to entrepreneurs is the fact that many customers would be anxious to buy DOZENS or even HUNDREDS of these baby newspapers. The first actual newspaper requires a bit of effort to put together, but making all of the additional copies that are required is a quick and easy process.

There are plenty of other occasions that that could also be made even better with some of these newspapers to remember them by. Graduations, athletic achievements and wedding anniversaries are some of the many events that a lot of people would LOVE to have something to remind them of as the years pass.

As far as businesses go, a baby newspaper business can be a very inexpensive and simple one to start. The low overhead makes it possible to start out on a part time basis and to eventually grow into a full time operation – if that’s what the businessperson plans to do.

The marketing aspect of the baby newspaper business is the part where the most effort is required. Getting the word out so that the public finds out about your business could take a bit of time. It would be a great opportunity for you if you’re a “people person.” Bear in mind that your customers will generally be HAPPY about the event they want to remember, which can make them much easier to deal with and in generous moods. so if you have some computer skills and like to meet happy people, a baby newspaper business could be just what you’re looking for.

By: William Schwarz

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A printing press is a specially designed machine used for a wide range of printing processes. Such machines consist of a press, which contains impressions of material to be reproduced and are mechanically transferred or pressed against printing paper or other materials. These printing presses could provide black and white or colored print depending on the requirement.

Installation of appropriate printing press for home or commercial purpose could fulfill printing needs. Many small printing presses provide adequate services to commercial clients. These commercial clients are generally small time companies and professionals. These small printing companies provide similar services to that of a large company but on a smaller scale. Printing methodology used by these small presses could be somewhat traditional. Use of older techniques may not make any significant difference to overall quality of the product.

Not many workers need to be employed in small commercial printing press. Also, automatic machines may be utilized to do the work of additional workers. These small companies provide their services for printing smaller number of books, catalogs, brochures, and other related items. They usually charge a lower fee than big companies on their services as infrastructure is comparatively smaller and technique of printing is also simpler. It is possible for customers to experience inadequate or average service as compared to big companies. This may happen, as smaller companies do not have advanced technologies and resources as compared to larger companies.

Nevertheless customers will be able to resource quality options even in small printing presses. Some companies may afford to provide attractive offers and discounts on their services and give particular good deals if not the best. Small printing presses have limited capabilities and may offer printing in only few prominent colors and may find it difficult to cater for advanced printing. Limited resources and basic printing techniques may yet offer appropriate services to medium sized clients.

By: Elizabeth Morgan

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The Golden State is definitely golden as it serves as a beacon for those who would like to make their entry to America through the Pacific, as the waves of migrations by Asians, Latinos, and Chinese would attest. The nickname “Golden Gate” would not have been tagged to the state if gold had not been discovered there a century and a half ago, ushering in what is known as the great travel to the west setting thousands on a cross-country voyage. This not only proved to be meandering, but also hazardous both from the tempests of nature and wild animals as well as from the band of Native Americans who frequently staged attacks on the wanderers. And in case gold wasn’t found there, the state may have been nothing more but a barren expanse similar to Nevada’s desert to the east.

The Tax Rates in California

Today, California is one of the more progressive states in the United States. In 2007, it posted a gross state product of $1.812 trillion, which is the largest in the United States. One of the answers to this amazing income are the tax brackets that California uses, these have served the state well in good stead. The tax rates call for taxing rich citizens proportionate to their income, resulting to the fact that the richest 3 percent of taxpayers shoulders a huge 60 percent of all state taxes.

For corporate tax rates, California levies 10.84 percent on banks and financial institutions. For corporations aside from banks and financial institutions, the tax rate is 8.84 percent. For income taxes, the minimum rate for individual taxpayers is 9.3 percent. Apart from these, the state also allows its citizens many forms of rebate such as those afforded to senior citizens, widower, or for couples who have children.

By: Dean Sturridge

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The government often tries to influence our behavior through taxes. The tax credit for new energy efficient cooling systems in our homes is one example.

As part of the provisions in the Energy Policy Act 2005, homeowners are entitled to claim tax credits on use of a few energy saving items. They include the use of energy saving windows, doors, roofing, furnace and boiler, water heater and air conditioner. As energy becomes scarcer by the day, it is essential to conserve as much energy as possible. The government, by way of giving tax credits, also encourages using alternate sources of energy.

Using energy efficient air conditioning systems is one of the items that qualify for tax credit. Individuals who install this type of air conditioner are eligible for a tax credit of up to $300. The models that qualify are obviously costlier than the ordinary ones. However, this calculation would show that it is advisable to install a new energy saving air conditioner. Even if you save just $10 a month on average by way of electricity bills it comes to $120 for a year. Add to that the tax credit of $300, your net saving is $420. This amount should be good enough to prod a homeowner into buying an energy efficient air-conditioner.

Of course, not all air conditioners are eligible for a tax credit. Even, not all Energy Star air conditioners qualify, only some do. Very efficient central air conditioners qualify for the tax credit if they meet the following criteria:

1. The Energy Efficiency Ratio has to be 13.0 or higher (in some states its 12.5).

2. Certified technician needs to install the equipment.

3. The Seasonal Energy Efficiency Ratio (SEER) has to be 15.

SEER measures performance throughout the season and EER measures performance on a very hot day. Central Air conditioning systems must meet the standards set by the Consortium of Energy Efficiency (CEE). The specifications for each state vary slightly.

The tax credit for energy efficient cooling systems in our home is just another step in saving money on both your energy bill and taxes. Since tax credits are reduced from the actual amount of tax you owe, not your gross income, you should strongly consider taking advantage of this one.

By: Richard Chapo

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It’s interesting…

I’ve had over one hundred 1-2-1s this year, and I’ve met an awful lot of people at various networking evetns.

Many have become clients, partners, and friends.

Interestingly, for each of them, they have all been in one of “three places”

1 – The Past
2 – The Present
3 – The Future

Now when I say this, I mean, that different people tend to be “pre-occupied” in their mind.

The Past

Many people have regrets about decisions they have made (or not made) in the past. They continue to play “what if” scenarios out in their head as to what could have happened, or how life could have turned out had they made a particular choice, or if a deal had gone their way, or if someone had done what they had supposed to. Unfortunately, From the many people I have spoken with having conducted my 3 minute marketing audit, or gone on to complete my coaching program, there are common
feelings, and experiences among all of them with regards to their perception of “view” of the past.

Many are sad, angry, upset, certainly disappointed or even guilty or bitter about events from their past. Many are resentful, some even disgusted at the way they feel others have behaved or even hateful towards them. All this replaying of emotions over and over again, isn’t good. Definitely not good, can affect their attitude, their perceptions, and their ability to “let go” and crack on with life, or business in general. Even in the marketing context, many regret having paid money on a marketing tactic that didn’t work, they bought advertising space for a knock down price that didn’t yield a single response, or bought an ebook that wasn’t worth the money (because they didnt implement what it recommended.) A lot of negativity or lack of progress and results can come from still being in the past, and not simply learning from our previous experiences, and applying that learning as we go forward.

The Future

Many people who contact me are anxious about the future. They are stressed, lack confidence and are uncertain how they will achieve certain results or whether they can make progress in a particular area. A lot of people can be suspicious about new people new ideas, new ways of doing things, and in fact, many people often are afraid of the way things might turn out.

Now the irony here is they tend to do the same as though that can’t let go off the past. They play over and over in their minds all these negative possible outcomes – all these negative “what if” scenarios of things could or might turn out, if they don’t make a particular choice, decision, or take a particular action. Many feel not in control of their own destiny, a feeling of hoplessmess, as they become more and more tense and uneasy about how things might turn out.

Me. Well f*** it, the past is gone. Hopefully I’ve learned from both the good and bad decisions I’ve made in my life. They say we are the sum total of our experiences to date, and I can’t necessarily argue with that.

I was shot when I was 15, and for 3 years I worried about becoming blind in my other eye. You wouldn’t believe how much of a mamsy pamsy scaredy cat I became about a whole host of things.

The Present

It’s what we do now, today that will affect and change our future. In fact, the only time you can actually do anything is NOW!

It’s now in the present that we feel in control, and productive. When we extend this, and become aware that we are in the now, the present, and concentrating on the tasks in hand, and making decisions now that could positively affect our future, that’s what’s really important.

When we focus on where we are now, we can appreciate what’s real, we becoming accepting of our situation, open to change, energised in our flow, and self aware of opportunities that are staring us in the face which are the catalyst for excellent positive change, to break the chains and burden of regret from the past, and smash the doubts, worries and fears of the future.

Confidence comes from focusing on the now. Progress comes from making positive decisions towards our future, and Results are generated from implementing a positive plan of action for the future.

Remember, the only time you can do anything is now, the present !

Apparently, some people’s days consist of allocting 80% of their thinking time to regreting the past or worrying about the future.

A brilliant saying I came across years ago was “What you resist, persists” – and I agree.

Resistance will soon enough disappear once you focus on changing your future for the better

Accept the past, and start creating the future you want – NOW. TODAY.

Take stock, identify where you are, where you want to be and le’t's make the next 12 months the best you’ve ever had.

Onwards and upwards

Fraser

By: Fraser J. Hay

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