Known sometimes as the "birthdate effect" or "relative age effect", this generally diminishes as children get older but does not vanish.
"With this data now available from more than one study, it really becomes the responsibility of parents, physicians, and teachers to pay attention to the relative-age effect and not intervene with treatment and labeling of children who it's no fault of their own what time of year they were born, " Garland says.
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Other aspects of climate change and land subsidence significantly exacerbate this effect though the relative importance of these factors varies from location.
Many other positive feedbacks such as the wealth effect, relative valuation methods, and the increased ability to borrow against inflated asset prices operate in financial bubbles and bull markets.
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"But very little had to be added in the fourth quarter - the subprime crisis has up till now, in relative terms, had a very modest effect, " he added.
Anticipation of at least some higher tax rates has already resulted in income shifting that will, ironically, result in higher tax revenues this year but a relative dearth after higher tax rates come into effect.
The combined effect of these two actions would change the relative price of labor and goods by roughly 30 percent.
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Notice that the effect of sequestration by a multiplier calculation is relative to the path that GDP would otherwise have been on.
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This reflects the so-called Balassa-Samuelson effect: the prices of services in Japan have risen relative to those of goods.
The point about the formula effect is that it systematically pushes the RPI higher, relative to the other index, when inflation is positive.
The effect of this was to push up the performance of small caps relative to that of large caps in the first weeks of the year.
To date, no drug has been approved in its leaf form because plants contain a complex composition of compounds with uncertain pharmacologies, metabolisms, side-effect profiles, toxicologies, drug interactions, and no control of relative concentrations.
So strong is this indirect effect, on his calculations, that the gradual fall in the relative value of America's minimum wage over the past 20 years is capable of explaining 1.5 percentage points of the fall in the country's equilibrium rate of unemployment over the same period.
What we find when we break up the various factors to examine them individually is that growth matters for stocks, but that its main effect is not in the total valuation of stocks, but in their valuation relative to bonds.
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The beneficial impact on employment in the short and medium run (relative to the no-reform baseline) is estimated to be approximately 500, 000 each year that the effect is felt.
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