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Slope Of The Yield Curve Finance Essay. For a person who values his money and wishes to invest it, he must consider the type of security he will invest in, the company that issued the security, the time of his investment and more importantly, the dr heidegger's experiment, risk that comes with every security traded in the market. Creoles In Latin Motivated To Revolt? Investment or securities with high returns can be attractive but every investor should be careful with the experiment characters, risk that comes along with it. As much as everyone wants a high return for their investment, this would mean that investors have to assume higher risks as well. Having sufficient information and knowledge on the type of security an investor seeks to invest in anderson and the market where the security belongs is characters a great advantage. Without sufficient information and knowledge on the risks incorporated with the security or investment, investors would be incurring losses more than they should. This is the reason why factors affecting risks in an investment and the premium investors get for assuming additional risk, deserve attention and research.

In relation to what the researchers quoted above, this study will focus on the determinants of credit spread changes in siege of vicksburg the Philippine government bond market mainly the U.S. Dollar-denominated Republic of the Philippines bonds issued in characters the years 2005-2011. The credit spread reflects the premium for default risk over an otherwise riskless security (Batten, et al., 2006). The researchers want to determine if macroeconomic variables, such as stock market index, foreign exchange rate, bond yield and slope of the yield curve have strong explanatory power in credit spread changes. According to a report of the Asian Development Bank, the Philippine bond market grew 12.4% to P3.7 trillion as of end-June 2012 the positive outlook for of the gods the country fueled buying and issuance of dr heidegger's, fixed-income instruments. Mr. Amando Tetangco, Jr., the messenger gods, Governor of the Bangko Sentral ng Pilipinas, said that in 2009, issuances of domestic government securities continue to experiment characters be the primary source of funding with a ratio of more than two-thirds of the total borrowing mix. Philippine government securities are mainly made up of Treasury bills and Essay, Treasury bonds, which are also known as Fixed-rate Treasury Notes (FXTNs) (ADB, 2012).

There are also Retail Treasury bonds (RTBs) that are intended to make government securities available to retail investors as well as create savings consciousness. The Philippine government does not only issue domestic government securities, but also foreign-denominated government securities which are the Republic of the Philippines (ROP) bonds. This kind of bonds that pays out semi-annual coupons are usually USD- and dr heidegger's experiment, EUR-denominated and are free from final withholding tax on interest income. These USD-denominated ROPs will be the subject or highlight of this research. According to Investing in Bonds.com (2009),

The U.S. Treasury securities market is the largest and most liquid market in the world. There is currently $7.89 trillion in outstanding marketable Treasury debt. The U.S. Siege Of Vicksburg? Treasury issues three types of securities: bills, which have a maturity of less than 1 year; notes, which have a maturity of between one and 10 years; and dr heidegger's experiment characters, bonds, which have a maturity of greater than 10 years. The US Government, particularly, the winged gods, U.S. Dr Heidegger's? Department of Treasury issues U.S. To Revolt Against? Treasury Notes or Bonds (T-Notes or T-Bonds) which are also known as U.S.

Treasuries, U.S. Treasury Bills (T-Bills), U.S. Treasury Inflation Protected Securities (TIPS) and lastly, U.S. Dr Heidegger's Experiment? Treasury STRIPS like U.S. Of The Ancients? Treasury Zero Coupon Bonds (Zeros). U.S. Treasury Notes and Bonds possess the dr heidegger's, same characteristics except for their tenor because T-Notes maturities are 2, 5 and 10 years while T-Bonds mature in more than 10 years but less than 30 years.

Coupons for both securities are paid out semi-annually. Most of the time, U.S. Treasuries are used as benchmark for siege many markets because it is believed to be free of default risk. The health of the U.S. Treasury Market is being affected by the crisis in Europe. As the crisis goes worse, the U.S. bond market will continue to underperform. According to Wastler (2012), if people are considering U.S. Treasury bonds for dr heidegger's experiment investment, they now have to think twice. Aside from the siege definition, movement of interest rates, the increasing size of debt of the US Government places a question on their ability to pay their outstanding obligations. Pricing of dr heidegger's experiment, U.S. Why Were Creoles In Latin To Revolt? Treasuries is similar to the valuation of ROP Bonds although the dr heidegger's experiment characters, former uses a different market convention in terms of day-counting as well as secondary market price quotation (Wee Sit, 2012).

As a market convention, yields of of vicksburg, ROP bonds are priced and benchmarked against that of U.S. Treasuries. Credit spread is defined as measured by the difference between a corporate and a government bond yield of the dr heidegger's, same maturity (Lepone Wong, 2009), which is normally expressed in basis points. Defense Of The? In our case, the characters, study on credit spread will involve U.S. "macro-environment" To? Treasury bonds as the benchmark and the Republic of the Philippines (ROP) bonds, which are U.S. dollar-denominated bonds, as the risky asset. This difference reflects the market's assessment of default risk which shows the relative riskiness of different debt categories through the differences of the characters, spreads among borrowers (Boss Scheicher, 2002).

Credit spread movements may reveal shifts in the supply of speak laurie halse anderson summary, funds provided by financial intermediaries; such that a drop in the supply of credit causes the cost of debt finance to increase, thereby widening credit spreads which may subsequently cut spending and production (Gilchrist Zakrajsek, 2011). Credit spreads are also used to assess the probability of characters, a company's default, determine the financial market's general function, preserve financial stability, and evaluate the on Relationship Between, consequences of monetary policy measures through the interaction between corporate bonds, government bonds, and money markets (Musio, 2006). With this information at hand, there is a need to study the determinants of credit spread changes. 1. 2 A Statement of the Problem. What are the determinants of credit spread changes in ROP bonds issued in the years 2005 - 2011? 1.3 Objectives of the Study. The main objective of the study is to determine the effects of the changes in the bond yield, slope of the yield curve, returns on the Philippine Stock Exchange Composite Index (PSEi), and foreign exchange rate on credit spread changes of ROP bonds for the periods 2005-2011.

It aims to determine whether default risk variables have significant effects on dr heidegger's experiment, the changes in credit spread. Also, this study aims to determine whether liquidity variables have significant effects on the changes in credit spread. It intends to make investors aware of the factors that they have to consider in measuring the risk and return of the security they buy so they can take advantage of the movements of the market. Ho: The changes in the 10-year U.S. treasury bond yield have no significant effect on credit spread. Ha: The changes in the 10-year U.S. treasury bond yield have a significant effect on credit spread. Ho: The changes in the 10-year U.S. treasury bond yield less the changes in the 2-US treasury bond yield have no significant effect on credit spread. Ha: The changes in on Relationship Between Children and Television the 10-year U.S. treasury bond yield less the changes in the 2-year US treasury bond yield have a significant effect on credit spread. Ho: The changes in the squared value of the 10-year U.S. Characters? treasury bond yield have no significant effect on credit spread. Ha: The changes in the squared value of the 10-year U.S. treasury bond yield have a significant effect on credit spread.

Ho: The changes in the lagged returns of the PSEi have no significant effect on credit spread. Ha: The changes in the lagged returns of the PSEi have a significant effect on credit spread. Ho: The changes in of the the USD/PHP exchange rate have no significant effect on credit spread. Ha: The changes in the USD/PHP exchange rate have a significant effect on credit spread. 1.5 Significance of the Study. This study will add literature to the scarce amount of studies about credit spreads. It will give additional research information for the use of the academe. Researchers will have supplementary material for dr heidegger's experiment characters reference on the pursuit of to, a study on the same subject. Foreign researchers who wish to conduct a study of their own country's securities benchmarked against another country's securities or with the experiment characters, U.S. as well can use our research as another guide and of vicksburg, related literature on the subject, amongst the others.

Local and foreign investors will be able to see the importance of credit spreads in the bonds that they invest to and they will be able to assess the risks incorporated with each bond so they can measure and evaluate it based on their own scale of experiment characters, risk tolerance or appetite. A Company's Broad To? Studying credit spreads which reflects the premium for dr heidegger's experiment characters default risk over an otherwise riskless security will also inform investors of the additional return they get in exchange of assuming additional risk. It will help them assess the speak halse anderson summary, issuer of the security whether they give satisfactory and experiment characters, justified returns to their investors. The Philippine government will assess the Essay on Relationship Children and Television, effects of different factors to the credit spread of ROP bonds benchmarked against U.S. Treasuries so they can possibly regulate them more and lessen the dr heidegger's experiment, credit spread in the bonds they issue. They can adjust the credit spreads through the factors that significantly affect it, making them pay less premium to their creditors. 1. 6 Scope and Limitations. The study will focus on "macro-environment" refers to, the determinants of characters, credit spread changes of to revolt spain, U.S. Dollar- denominated ROP Bonds for the years 2005-2011.

The variables that will be used in experiment characters the study are the speak, changes in the bond yield, changes in the squared value of the dr heidegger's experiment characters, bond yield and defense, changes in the slope of the yield curve which are the variables that capture default risk. Also included are changes in experiment the lagged of PSEi returns and changes in the exchange rate as market variables. Limitations of the study, on winged messenger of the, the other hand, are the researchers' lack of dr heidegger's characters, direct access to winged messenger gods Bloomberg or any database that provides the data necessary to conduct the study. Another limitation for this study is the absence of a developed options and futures market in the Philippines. Due to this limitation, variables regarding derivatives are removed from the data. Review of Related Literature.

This chapter shall present the variables used through the discussion of different journals of past studies related to the main topic of this research. The chapter will also present the gap between the studies done in the past and the study to be done by experiment, the researchers. 2.1. Description of Each Variable Used. Credit spread, as defined by Lepone and of vicksburg definition, Wong (2009) is the difference of two bond yields, corporate and government, with the same tenor. In their study, they found out that the characters, movements of the credit spread in past observations happen before any notable movements in the stock markets and the economy occurs. This is supported by Gilchrist and Zakrajsek in their study done in 2010. They defined credit spread as the difference of the yields of diverse debt instruments of private entities and the securities issued by the government. A It is a critical measure for the default risk and other sorts of financial problems in the financial system.

Credit spread is an effective instrument to foresee future growth in the economy throughout different economic indicators (Gilchrist and Zakrajsek, 2010). Credit spread changes also suggest movements in the amount of lending provided by financial institutions. This, in turn, adds more emphasis on the importance of credit spread changes in forecasting economic movements in the future. One of the studies done show that a decrease in the balance sheet of financial institutions and other financial intermediaries create a lower supply of loans. On the other hand, a decrease in the balance sheet would lead to an increase in credit spread. With this, the impact of an increase in why were creoles in latin motivated against and portugal? credit spread movement show a possible decrease in characters the level of spending and production, thus, a weaker economy (Gilchrist and Zakrajsek, 2010).A A A. 2.1.2. Changes in defense of the ancients the 10-year Government Bond Yield. According to the study of Lepone and Wong (2009), the 10-year government bond yield is used as a proxy for the spot rate. The spot rate is an important variable in the structural models of default proposed by Black and characters, Scholes (1973) and Merton (1974). The result of their study states that changes in the spot rate has a negative relationship to credit spreads and Essay on Relationship Between and Television, that it is an important variable in determining credit spreads which is also true in the study of Yap and Gannon (2007).

Longstaff and Schwartz (1992) argue that spreads and the risk-free rate should exhibit a negative relationship because an increase in the risk-free rate of the bond also increases that risk-neutral drift of the process that describes firm value and thus reduces the probability of default. Molano (2003), looked at the credit spreads of emerging markets and found that they are sensitive to experiment characters the monetary of a company's to, U.S. It is believed that U.S. treasury yields are highly correlated with the yields of emerging markets when interest rates are increasing. Yap and Gannon (2007) illustrated in their study that Malaysian bonds have varying degrees of cointegration with U.S. risk-free rate of longer to maturity. The changes in the squared value of the 10-year government bond is included in the study of Lepone and Wong (2009), to capture the non-linear effects of the term structure. The term structure of dr heidegger's experiment, interest rates is the relationship between the yields of the securities and broad "macro-environment", their time to maturity. The term structure can be taken in experiment characters a form of a graph called the yield curve. Speak Laurie Anderson Summary? This yield curve normally has an increasing slope and curves as the time to maturity increases.

This curvature is the one that should be taken into account. This variable is statistically significant; however, in the study of Batten, Fetherson, and Hoontrakul (2006), the emerged coefficient is small and generally not economically significant. 2.1.3. Changes in the Slope of the Yield Curve. Lepone and dr heidegger's, Wong (2009), in speak halse anderson their study, considered the slope of the yield curve as an important determinant of credit spreads. They defined the slope as the difference between the yield of the ten year government bond yield and the three year government bond yield. By subtracting these two bond yields, the variable gives a broad view of the country's economic conditions (Lepone and Wong, 2009). A negative relationship is expected to from the changes in the slope of the yield curve to the changes in credit spreads. As stated in the research done by Miloudi and Moraux (2009), the slope of the yield curve may be interpreted as the signal of the anticipated level of the future short rates.

The yield curve may also be the indication of how well or how bad the dr heidegger's experiment, economy is performing. A positive change in the slope of the yield curve would mean a negative change on the credit spread and a negative change in the slope of the yield curve would mean an increase in the credit spread (Miloudi and Moraux (2009). Avramov, Jostova, and Philipov (2007) also said that the increase of the slope decreases the "macro-environment", credit spreads because the positive change in the slope of the yield curve would mean an increase in the spot rates. Also, an increase in the slope would mean that the economy is improving. Experiment? In contrast to this, they also said that an increase in a company's broad "macro-environment" the changes in the slope would mean an increase in future interest rates, lowering the valuation of a company, thus increasing the credit spreads (Avramov, Jostova, and Philipov, 2007). 2.1.4. Changes in the Lagged Returns on experiment, the PSEi.

2.1.5. Changes in the USD/PHP Exchange Rate. Yap and Gannon (2007) considers foreign exchange variables as an important factor as steep currency appreciations in which the debt is of vicksburg definition denominated (most of the time in US dollar), may directly impact a country's indebtedness immediately. Depreciation of the dr heidegger's experiment, domestic currency may also cause a slump in defense the export revenues of the country which may further lessen its ability to dr heidegger's experiment service its debt. In the investment decision of foreign currency bonds, the most important factor to be considered is the foreign exchange risk since an appreciation of the home currency may reduce the forecasted profit. A Company's Refers To? The study used the daily rate of return of the Japanese Yen and the British Pound as proxies of the foreign exchange rate given their strong trade relationship with Malaysia. The result of the study has shown that changes in Japanese Yen were more influential than the changes in British Pound for dr heidegger's experiment characters the case of US dollar-denominated Malaysian bonds. In the study of Batten et al. Ancients? (2006), the exchange rate variable was significant only for spreads on dr heidegger's experiment, Philippine bonds since the bonds issued by defense of the, the country were not of the dr heidegger's experiment, same credit class as other Asian issues. The variable proxies macroeconomic uncertainty thus a depreciation of the local currency (appreciation of the US dollar) is expected to be associated with an increase in credit spreads. It was found that the exchange rate is negatively related to the changes in the local stock market index and positively related to changes in siege of vicksburg the credit spread.

This implies that an increase in dr heidegger's experiment the exchange rate or a depreciation of the on Relationship Between Children, peso is associated with an increase in the credit spread and a decline in the stock index.A A A A A A A. As shown in the literature map, our study will focus on the Bond market, both the American and the Philippine Bond Market. We will be studying the determinants of Credit Spread Changes in the Philippine setting. Instead of getting the difference in the yield of a corporate bond and a government bond, we will use government bond from the United States and dr heidegger's, a government bond with the same tenor from the Philippine bond market. For the study, the dependent variable would be the Changes in of the the Credit Spread and the independent variables will be the changes in the 10-year US Government bond yield, changes in the slope of the yield curve, changes in dr heidegger's characters the squared value of the 10-year US Government bond yield, changes in the lagged returns of the PSEi, and messenger of the, the changes in the USD/PHP exchange rate. All of these independent variable were used in past studies and with this, the same variables shall be applied in the Philippine setting. One of the primary gap found by the researchers is that there are no, if not a few, studies existing on credit spreads in dr heidegger's experiment characters the Philippine bond market. Studies found are set in other bond markets from other countries. And so for this study, the determinants on credit spread to be analyzed will be from the Philippine bond market. The journal articles on the study of credit spreads used the corporate bonds' credit spread as a variable for their study.

Unfortunately in the Philippine setting, there is a scarce source of data on corporate bonds. Knowing this information, the researchers shall instead use the credit spread of the government bonds, specifically USD Denominated ROP Bonds, for the study. Previous studies on the determinants of credit spread changes used data in a weekly basis. For this research, daily data basis shall be applied for defense ancients the variables instead of the weekly basis in order to experiment characters avoid the problems in stationarity when regression is laurie halse applied to the study. This chapter will discuss the characters, theory applicable to the study, the concepts included in the study, and the model the researchers will use in assessing the effects of the independent variables to the dependent variable. This chapter will also examine the possible relationship of the creoles in latin america motivated, independent variables to the dependent variable. The main theory that will be discussed in the study is the risk and return theory. This states that the higher the risk of an investment, the higher the dr heidegger's experiment, return the siege of vicksburg definition, investors should receive. Credit spread is the difference between a corporate and a government bond yield of the same maturity (Lepone Wong, 2009). This spread measures the credit risk and probability of default of the corporate bond.

The higher the credit spread between the bonds and the benchmark government bonds, the higher the dr heidegger's, risk of the bond to default, thus, a higher return should be given to ancients the investor. Credit spread is the yield spread or difference in yield between different securities which stems from the different credit quality of securities (Wrobel, n.d.). The credit spread of a security is experiment characters often quoted in relation to a yield of a risk-free benchmark security. Of The? One factor that affects the credit spread is the experiment characters, probability of default of the security; the higher the spread of the security, the higher the default risk. Other factors affecting credit spreads are the costs related to the use of credit products, the winged messenger, adjustment for the bond's lifetime, the liquidity of the security, and the downgrade risk. Credit spread can be an indicator of the economy. When a credit spread is wide between the risky security and the risk-free security, this implies that the market is dr heidegger's experiment characters adding more default risk which indicates a slow-down in the economy. On the a company's refers, other hand, when the credit spread is narrow between the risky security and the risk-free security, there will be less default risk on the risky security, therefore, lowering its credit spread which implies that the economy is growing. The bond yield is the rate of return the investor gets in holding the experiment characters, bond. There are different types of messenger gods, bond yield which are the coupon rate, the current yield, the yield to maturity, and the yield to dr heidegger's characters call. The coupon rate is the rate the issuer of the security will need to pay interest payments periodically.

The current yield is the speak halse anderson summary, rate of return the investors will expect in holding the security in a year. Experiment? The yield to maturity is the total return that the investors will get in holding the bond until maturity date. Lastly, the yield to call, only applicable in a callable bond, is the siege, interest rate the dr heidegger's characters, bond holder gets in holding the security until the call date. The type of yield that will be used in the study is the yield to a company's "macro-environment" refers to maturity. The yield to maturity is the discount rate that equates the value of the bond with the present value of the stream of dr heidegger's experiment characters, cash flows (interest and definition, principal) (Reilly and Brown, 2009). As the price of the bond increases, the yield to maturity decreases and experiment, when the price of the bond decreases, the yield to maturity increases. This increase and decrease in the prices of the bond is due to the risk of the bond. When the price of the bond is below par value, there is more risk and is sold at a discount. When the price of the bond is above par value, there is less risk and the bond is sold at a premium.

Yield curve is the representation of the term structure of siege definition, interest rates. Dr Heidegger's Experiment Characters? This shows the relationship between the yield of the security and the time of maturity of the security. It is defense composed of Treasury bills, Treasury notes, and Treasury bonds. There are certain shapes of the yield curve which are: positive (normal yield curve), flat, negative (inverse), and humped. The yield curve can be useful in forecasting interest rates, detecting overpriced and dr heidegger's experiment characters, underpriced securities, and for financial intermediaries. An upward-sloping yield curve can allow investors to look for opportunities to defense of the move away from long-term securities into investments whose market price is less sensitive to dr heidegger's experiment characters interest changes (Rose, 2008). On the speak, other hand, a downward-sloping yield curve notifies the likelihood that there will be decline in the interest rates thus; increasing the prices of the bonds if the market's prediction of lower interest rates becomes true.

The yield curve can also detect overpriced and underpriced securities. If a security's yield lies above the yield curve, this means that the security is temporarily underpriced in relation to other securities with the same maturity. On the other hand, a security's yield lying below the yield curve means that the security is temporarily overpriced in relation to other securities with the same maturity. Lastly, a yield curve is experiment important for why were creoles america to revolt against financial intermediaries since they use it for profiting. The steeper the upward slope of the yield curve, the wider the spread between borrowing and lending rates and the higher the dr heidegger's, profit for the financial intermediary. A A A A A A. 3.2.4 Philippine Stock Exchange Composite Index. The Philippine Stock Exchange Composite Index (PSEi), formerly called Phisix, is the main stock market index in the Philippines. This is messenger gods composed of a fixed basket of dr heidegger's experiment characters, thirty common stocks of listed companies, carefully selected to represent the general movement of the stock market (PSEacademy administrator, 2011). This is the Between and Television, benchmark in measuring the stock market performance in the country. The foreign exchange rate is the rate by dr heidegger's experiment characters, which a currency is pegged in another country's currency.

Exchange rates changes in response to speak laurie halse summary the supply and demand conditions. If government agencies, corporations, and individuals suddenly shifted their aggregate demand on a certain currency, or shifted their aggregate supply of that currency, the price will change (Madura, 2008). An aggregate demand on dr heidegger's experiment characters, a currency will appreciate its value while an siege of vicksburg definition, aggregate supply of a currency will depreciate the value. The risk associated with foreign exchange rate is the foreign exchange risk. This type of risk is due to the varying exchange rates between two currencies. Foreign exchange risk is the exposure of potential losses due to the devaluation of the local currency against the foreign currency. Usually, the ones that are mostly affected by this risk are the investors, exporters and importers, and businessmen. To manage this risk, people can trade local currencies to prevent having an exposure to foreign exchange risk.

They can also use hedging techniques, like forward contracts, to dr heidegger's deal with the of the ancients, risk. a?CSt = I?0 + I?1a?USt + I?2a?(USt)2 + I?3a?Slopet + I?4a?PSEi + I?5a?USDPHP + I. a?CSt = changes in credit spread. a?USt = changes in the 10-year U.S. government bond yield. a?(USt)2 = changes in the squared value of 10-year U.S. government bond yield. a?Slopet = changes in the yield of 10-year U.S. government bond less the yield of 2 year U.S. government bond. a?PSEi = changes in the lagged returns on the PSEi. a?USDPHP = changes in the USD/PHP exchange rate. In evaluating the model, the researchers will first use the Pearson Product Momentum Correlation Coefficient in determining the relationship of the independent variables to the dependent variable.

To provide more evidence on the relationship of the independent variables to experiment the dependent variables, the researchers will use the Autoregressive and Moving Average (ARMA) Model for a company's the regression to eliminate possible autocorrelation in dr heidegger's experiment the residuals. Before using the in latin against spain and portugal?, technique, Augmented Dickey-Fuller test will be used to examine if the experiment, data is stationary or not. The researchers will also use the Generalized Autoregressive Conditional Heteroscedasticity (GARCH) Model for robustness checking to eliminate volatility clustering in the time-series data. Table 1 - A-priori Expectations of the Independent Variables to Credit Spread. Changes in of the the 10-year government bond yield.

The variable is negatively- related to credit spread because when the risk-free bond yield increases, the difference between the rate of the risky security and risk-free security narrows thus, lowering the probability of default. Changes in the slope of the yield curve. This variable is negatively-related to credit spread because when the difference between the 10-year and the 2-year yield increases, this should increase the future short rates causing a decrease in the credit spread. Changes in the lagged returns on the PSEi. This variable is negatively-related to credit spread because when the returns on the PSE Composite Index are positive, this means that the economy is good, thus, credit spreads should be low. Changes in the foreign exchange rate.

This variable is positively-related to credit spread because depreciation in the home currency will mean that the home country (local currency) will have to pay more of the foreign country's currency thus, increasing the credit spread. 3.3.3 Operational Definitions. Augmented Dickey Fuller Test. - a statistical test that determines if the data is stationary or not. Pearson Product Momentum Correlation Coefficient. - A technique that measures the dr heidegger's experiment characters, correlation of linearly-related variables. Autoregressive and Moving Average Model. - It notifies that the dependent variable is of the ancients also reliant on its value in the previous time period and the value of the experiment, white noise error term in the previous time period.

Generalized Autoregressive Conditional Heteroscedasticity Model. - The conditional variance of the error term depends not only on the squared error term in the previous time period but also on its conditional variance in the previous time period (Gujarati, 2003). - The difference between the yield of a risky security and a risk-free rate security with the same maturities. - This is the a company's broad refers, yield to maturity of the dr heidegger's, government bond. Slope of the Yield Curve. - The difference between the 10-year government bond yield and a 2-year government bond yield. Philippine Stock Exchange Index.

- The main stock market index in the Philippines that measures the Essay, performance of the stock market. - The rate in which the USD (Dollar) can be converted into PHP (Peso). This chapter illustrates the research design and sampling design used in the study, the data description and data collection of the study. This chapter will also discuss the method of data analysis used by the researchers as well as the methodological limitations evident in the study. Correlational research and evaluative research are the research designs that the researchers will be using in the study. A correlational research will be conducted to determine whether the dr heidegger's experiment, independent variables have a significant effect on the dependent variable which is the why were america motivated, credit spread changes. Dr Heidegger's Experiment? This research design establishes the relationship between the variables whether it is positive or negative. An evaluative research will also be adopted to assess the performance outcome or impact of the independent variables to the credit spread while considering an adequate time span from 2005 to 2011, to identify the effects accurately. The study covers ROP bonds, which are U.S. Why Were America To Revolt Against Spain And Portugal?? dollar-denominated bonds, issued from the years 2005 to 2011. Daily observations of the variables are used which were obtained from Bloomberg. A ROP bonds pay out semi-annual coupons and have a 30/360 day-count convention.

Eleven bonds were issued within the characters, sample period, all of which are incorporated into the study. The credit spread is estimated by the difference between these eleven ROP bonds and U.S. benchmark treasury bonds of the same maturities. 4.3 Data Description and Data Collection. The study will use daily observations of the variables covering the periods 2005-2011. Data for the credit spread, bond yield, slope of the yield curve and returns on the PSE composite indexA were all obtained from Bloomberg. For the foreign exchange rate, the figures were sourced from OANDA. The dependent variable is the credit spread changes which is broad "macro-environment" refers measured as the experiment characters, difference between the changes in the yields of the ROP bonds and U.S. Treasury bonds having the same maturities.

On the other hand, the independent variables are the bond yield, slope of the yield curve, lagged returns on the PSE Composite index and the foreign exchange rate. Innovations to interest rate factors, particularly changes in the bond yield and messenger of the, slope of the yield curve, are considered as the most important determinants of changes in the credit spread. The spot rate is proxied by characters, the changes on the 10-year U.S. treasury bond yield while the changes in the slope of the yield curve is calculated as the difference between the changes in the yield of the 10-year and Children and Television, 2-year U.S. Treasury bond. Dr Heidegger's Experiment? The squared values of the winged messenger, bond yield are also included in the model to take into account the nonlinear effects due to the curvature of the yields of the U.S treasury bonds. Changes in the lagged returns on dr heidegger's, the PSE Composite Index are incorporated in of the the model to determine the effect of the stock returns to the credit spread.

This variable serves as proxy for the expected future gains of the dr heidegger's experiment characters, economy. Lastly, historical Dollar against Peso (USD/PHP) exchange rates taken from defense, OANDA are used for the foreign exchange rate variable as proxy for dr heidegger's experiment macroeconomic uncertainty. A In the study of Batten et al. Winged Gods? (2006), the exchange rate variable was found to have significant effects to the spreads on Philippine bonds whereas, Yap and Gannon (2007) considered foreign exchange risk an important factor in the investment decision of foreign currency bonds. For the study, the researchers will conduct a correlation test using Pearson's Product Momentum Correlation Coefficient to determine the relationship of the independent variables to the credit spread. It is usually referred as Pearson's r which is used for data measured on an interval or ratio scale (Jackson, 2011). The sign of the Pearson indicates the direction of the relationship either positive or negative, whereas the value indicates its strength (Lomax, 2007). A. Tests for stationarity would also be necessary since a non-stationary series would lead to spurious results from characters, econometric tests. For the stationarity test, the winged messenger of the gods, researchers will use the dr heidegger's characters, Augmented Dickey Fuller (ADF) test, a statistical test which takes into account the possible correlation in the error terms to determine if a series is stationary.

In case that results indicate non-stationarity, the integration process will be applied wherein the series is differenced d times to winged of the achieve stationarity. A time-series regression, specifically the dr heidegger's, Autoregressive and Moving Average (ARMA) Model, shall be applied in investigating the effects of the explanatory variables to credit spread changes. The ARMA model is a combination of the broad "macro-environment" to, Autoregressive and Moving Average scheme which informs that the dependent variable relies on its own previous values and a combination of the current and previous values of a white noise error term, which is a random error term having zero mean, constant variance, and dr heidegger's experiment characters, no autocorrelation. The Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model was also applied for a more efficient re-estimation of the equation and robustness checking. In the GARCH model, the conditional variance of the error term not only halse anderson summary, relies on dr heidegger's experiment, the squared error term in the previous time period but also on its conditional variance in the previous time period (Gujarati, 2003). The GARCH process exhibits heavy tails thus it can model both the conditional heteroscedasticity and heavy tailed distributions of financial market data (Ruppert, 2010). Investigations of the study of Yap and defense, Gannon (2007) on the credit spreads and residuals from the equation reveal that some of the series exhibits autocorrelation which means that the spreads of the series are continuously influenced by past spreads. By using the ARMA model, the autocorrelation shall be eliminated in the regression. Accordingly, the equation is extended with the inclusion of dr heidegger's experiment characters, Autoregressive terms (AR) and Moving Average terms to specify the dependent variable, which is the speak anderson, credit spread changes, as a function of its past values.

In the dr heidegger's, event that the series shows evidence of possessing residual serial correlation, GARCH specifications should be applied since the models are still mildly misspecified. In effect, results would be sharpened as well as the significance of the variables tested in the mean regressions. Residual parameters and messenger, standard errors in the re-estimated equation are also expected to become more efficient, exhibiting a normal distribution without serial correlations. 4.5 Methodological Limitations. Linear structural time-series models are unable to explain certain features common to financial data. Given that the conditional variance of the ARMA model is constant, it cannot capture the volatility of the time-series data.

Financial asset returns also tend to have heavy tail distributions which means that there is a larger probability of acquiring very large values. As the study uses daily data, volatility clustering in financial returns is evident because the persistence of conditional volatility tends to increase with the sample (Alexander, 2002) but, an ARMA linear regression does not accommodate volatility clustering. Experiment Characters? For all these reasons, another time-series model is considered, which is the GARCH model, since it has randomly varying volatility, exhibits heavy tails and eliminates volatility clustering (Ruppert, 2010).

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95 theses date on the Power and Efficacy of Indulgences. by Dr. Martin Luther, 1517. Earthquake victims in Haiti need your help! Disputation of Doctor Martin Luther. on the Power and dr heidegger's experiment characters Efficacy of Indulgences. by Dr. Siege Definition? Martin Luther (1517) Works of Martin Luther: Adolph Spaeth, L.D. Reed, Henry Eyster Jacobs, et Al., Trans. Eds. (Philadelphia: A. J. Holman Company, 1915), Vol.1, pp. 29-38. Out of love for the truth and the desire to bring it to light, the following propositions will be discussed at Wittenberg, under the presidency of the Reverend Father Martin Luther, Master of Arts and of Sacred Theology, and characters Lecturer in Ordinary on the same at that place. Speak Laurie Halse Summary? Wherefore he requests that those who are unable to be present and debate orally with us, may do so by letter.

In the experiment characters Name our Lord Jesus Christ. Amen. 1. Our Lord and siege Master Jesus Christ, when He said Poenitentiam agite, willed that the whole life of believers should be repentance. 2. This word cannot be understood to mean sacramental penance, i.e., confession and dr heidegger's experiment satisfaction, which is administered by the priests. 3. Yet it means not inward repentance only; nay, there is no inward repentance which does not outwardly work divers mortifications of the flesh. 4. The penalty [of sin], therefore, continues so long as hatred of self continues; for this is the true inward repentance, and continues until our entrance into the kingdom of heaven.

5. The pope does not intend to remit, and cannot remit any penalties other than those which he has imposed either by speak laurie anderson summary his own authority or by experiment that of the Canons. 6. The pope cannot remit any guilt, except by declaring that it has been remitted by God and by assenting to God's remission; though, to be sure, he may grant remission in cases reserved to his judgment. Refers? If his right to grant remission in such cases were despised, the guilt would remain entirely unforgiven. Dr Heidegger's? 7. God remits guilt to no one whom He does not, at the same time, humble in all things and bring into subjection to His vicar, the priest. 8. The penitential canons are imposed only on the living, and, according to them, nothing should be imposed on the dying. 9. Therefore the Holy Spirit in the pope is kind to us, because in a company's refers to his decrees he always makes exception of the article of death and of necessity. 10. Ignorant and wicked are the doings of those priests who, in the case of the dr heidegger's experiment characters dying, reserve canonical penances for purgatory.

11. This changing of the defense ancients canonical penalty to the penalty of dr heidegger's characters, purgatory is quite evidently one of the tares that were sown while the bishops slept. 12. In former times the canonical penalties were imposed not after, but before absolution, as tests of true contrition. 13. The dying are freed by death from all penalties; they are already dead to canonical rules, and have a right to be released from on Relationship them. 14.

The imperfect health [of soul], that is to say, the imperfect love, of the dying brings with it, of necessity, great fear; and the smaller the love, the greater is the fear. 15. This fear and horror is sufficient of itself alone (to say nothing of experiment characters, other things) to constitute the penalty of purgatory, since it is very near to the horror of despair. 16. Hell, purgatory, and heaven seem to differ as do despair, almost-despair, and the assurance of safety.

17. With souls in purgatory it seems necessary that horror should grow less and love increase. 18. It seems unproved, either by reason or Scripture, that they are outside the state of definition, merit, that is to say, of increasing love. 19. Again, it seems unproved that they, or at experiment characters least that all of them, are certain or assured of their own blessedness, though we may be quite certain of it. 20.

Therefore by full remission of all penalties the pope means not actually of all, but only Children and Television, of those imposed by experiment characters himself. 21. Therefore those preachers of indulgences are in error, who say that by the pope's indulgences a man is freed from siege every penalty, and saved; 22. Whereas he remits to souls in purgatory no penalty which, according to the canons, they would have had to pay in this life. 23.

If it is at dr heidegger's all possible to grant to any one the remission of all penalties whatsoever, it is certain that this remission can be granted only to the most perfect, that is, to the very fewest. 24. It must needs be, therefore, that the greater part of the people are deceived by Essay Between Children that indiscriminate and characters highsounding promise of release from penalty. 25. Why Were In Latin Motivated Against Spain? The power which the pope has, in a general way, over purgatory, is just like the experiment power which any bishop or curate has, in a special way, within his own diocese or parish.

26. Why Were Creoles Against Spain? The pope does well when he grants remission to souls [in purgatory], not by the power of the keys (which he does not possess), but by way of intercession. 27. They preach man who say that so soon as the penny jingles into the money-box, the soul flies out [of purgatory]. 28. It is certain that when the penny jingles into the money-box, gain and avarice can be increased, but the result of the intercession of the Church is in the power of God alone.

29. Who knows whether all the souls in purgatory wish to be bought out of it, as in the legend of Sts. Severinus and Paschal. Characters? 30. No one is sure that his own contrition is sincere; much less that he has attained full remission. Of Vicksburg Definition? 31. Rare as is the man that is truly penitent, so rare is also the man who truly buys indulgences, i.e., such men are most rare. 32. They will be condemned eternally, together with their teachers, who believe themselves sure of their salvation because they have letters of pardon. Dr Heidegger's? 33.

Men must be on their guard against those who say that the pope's pardons are that inestimable gift of siege, God by which man is reconciled to Him; 34. For these graces of pardon concern only the penalties of sacramental satisfaction, and these are appointed by man. 35. They preach no Christian doctrine who teach that contrition is not necessary in those who intend to buy souls out of purgatory or to buy confessionalia. 36. Every truly repentant Christian has a right to full remission of penalty and guilt, even without letters of pardon.

37. Every true Christian, whether living or dead, has part in all the blessings of Christ and the Church; and experiment this is granted him by God, even without letters of pardon. 38. Defense Ancients? Nevertheless, the remission and dr heidegger's participation [in the messenger gods blessings of the Church] which are granted by the pope are in no way to be despised, for they are, as I have said, the declaration of experiment, divine remission. 39. It is most difficult, even for the very keenest theologians, at one and the same time to commend to the people the abundance of pardons and [the need of] true contrition. 40.

True contrition seeks and loves penalties, but liberal pardons only relax penalties and cause them to be hated, or at least, furnish an occasion [for hating them]. 41. Apostolic pardons are to be preached with caution, lest the people may falsely think them preferable to other good works of love. 42. Christians are to be taught that the pope does not intend the buying of pardons to be compared in any way to works of mercy. Defense Ancients? 43. Christians are to be taught that he who gives to characters, the poor or lends to the needy does a better work than buying pardons; 44. Because love grows by works of love, and man becomes better; but by pardons man does not grow better, only more free from penalty. 45. 45.

Christians are to be taught that he who sees a man in need, and passes him by, and gives [his money] for pardons, purchases not the indulgences of the pope, but the speak halse indignation of God. 46. Christians are to be taught that unless they have more than they need, they are bound to keep back what is necessary for their own families, and by no means to squander it on pardons. Experiment? 47. Christians are to be taught that the buying of pardons is a matter of free will, and not of winged messenger, commandment. 48.

Christians are to be taught that the pope, in granting pardons, needs, and therefore desires, their devout prayer for him more than the money they bring. 49. Christians are to be taught that the pope's pardons are useful, if they do not put their trust in them; but altogether harmful, if through them they lose their fear of God. 50. Christians are to be taught that if the pope knew the experiment exactions of the pardon-preachers, he would rather that St. Peter's church should go to of vicksburg definition, ashes, than that it should be built up with the skin, flesh and bones of his sheep. 51. Christians are to be taught that it would be the pope's wish, as it is experiment characters his duty, to ancients, give of his own money to very many of dr heidegger's experiment, those from whom certain hawkers of pardons cajole money, even though the church of St.

Peter might have to be sold. 52. The assurance of salvation by letters of pardon is vain, even though the commissary, nay, even though the pope himself, were to stake his soul upon it. 53. They are enemies of Christ and of the pope, who bid the Word of God be altogether silent in some Churches, in order that pardons may be preached in others. Creoles In Latin To Revolt? 54.

Injury is done the Word of experiment characters, God when, in the same sermon, an equal or a longer time is spent on pardons than on this Word. 55. It must be the intention of the pope that if pardons, which are a very small thing, are celebrated with one bell, with single processions and ceremonies, then the Gospel, which is the very greatest thing, should be preached with a hundred bells, a hundred processions, a hundred ceremonies. 56. The treasures of the Church, out of which the pope. grants indulgences, are not sufficiently named or known among the people of Christ. 57. That they are not temporal treasures is certainly evident, for many of the vendors do not pour out such treasures so easily, but only gather them. 58.

Nor are they the merits of Christ and the Saints, for even without the pope, these always work grace for siege of vicksburg definition, the inner man, and the cross, death, and hell for the outward man. 59. St. Lawrence said that the treasures of the Church were the dr heidegger's experiment characters Church's poor, but he spoke according to refers to, the usage of the word in his own time. 60. Without rashness we say that the keys of the Church, given by Christ's merit, are that treasure; 61.

For it is clear that for the remission of penalties and of reserved cases, the dr heidegger's characters power of the pope is of itself sufficient. Speak Anderson? 62. The true treasure of the Church is the Most Holy Gospel of the dr heidegger's glory and the grace of Essay on Relationship Between, God. 63. But this treasure is dr heidegger's experiment characters naturally most odious, for it makes the first to be last. 64. On the other hand, the treasure of indulgences is naturally most acceptable, for winged messenger of the gods, it makes the last to be first. 65. Therefore the treasures of the Gospel are nets with which they formerly were wont to fish for men of riches.

66. The treasures of the indulgences are nets with which they now fish for the riches of men. 67. The indulgences which the preachers cry as the greatest graces are known to be truly such, in so far as they promote gain. 68. Yet they are in truth the very smallest graces compared with the grace of experiment characters, God and the piety of the Cross. 69. Bishops and curates are bound to ancients, admit the commissaries of apostolic pardons, with all reverence. 70. But still more are they bound to strain all their eyes and attend with all their ears, lest these men preach their own dreams instead of the dr heidegger's experiment characters commission of the pope. 71.

He who speaks against the truth of why were creoles america motivated to revolt and portugal?, apostolic pardons, let him be anathema and accursed! 72. Dr Heidegger's Characters? But he who guards against the lust and license of the pardon-preachers, let him be blessed! 73. The pope justly thunders against those who, by any art, contrive the injury of the traffic in pardons. 74. But much more does he intend to thunder against those who use the "macro-environment" refers to pretext of dr heidegger's, pardons to contrive the injury of holy love and truth. 75. To think the papal pardons so great that they could absolve a man even if he had committed an impossible sin and violated the Mother of God -- this is madness. 76.

We say, on the contrary, that the papal pardons are not able to remove the very least of venial sins, so far as its guilt is concerned. 77. It is said that even St. Peter, if he were now Pope, could not bestow greater graces; this is why were america motivated against blasphemy against St. Peter and against the pope. 78. Dr Heidegger's Experiment Characters? We say, on the contrary, that even the present pope, and any pope at all, has greater graces at his disposal; to wit, the Gospel, powers, gifts of healing, etc., as it is "macro-environment" refers written in experiment I. Corinthians xii. 79. To say that the cross, emblazoned with the papal arms, which is set up [by the preachers of indulgences], is of equal worth with the Cross of speak laurie halse summary, Christ, is blasphemy. 80. The bishops, curates and theologians who allow such talk to be spread among the people, will have an account to render.

81. This unbridled preaching of pardons makes it no easy matter, even for learned men, to rescue the reverence due to the pope from slander, or even from the shrewd questionings of the laity. 82. To wit: -- Why does not the pope empty purgatory, for the sake of holy love and of the dr heidegger's dire need of the souls that are there, if he redeems an infinite number of souls for the sake of miserable money with which to creoles in latin against spain and portugal?, build a Church? The former reasons would be most just; the latter is most trivial. 83.

Again: -- Why are mortuary and anniversary masses for characters, the dead continued, and why does he not return or permit the withdrawal of the endowments founded on defense of the ancients their behalf, since it is wrong to pray for the redeemed? 84. Again: -- What is this new piety of dr heidegger's, God and definition the pope, that for money they allow a man who is impious and their enemy to buy out of purgatory the pious soul of a friend of God, and do not rather, because of dr heidegger's experiment characters, that pious and beloved soul's own need, free it for pure love's sake? 85. A Company's Broad To? Again: -- Why are the penitential canons long since in actual fact and through disuse abrogated and dead, now satisfied by characters the granting of winged messenger gods, indulgences, as though they were still alive and in force? 86. Again: -- Why does not the pope, whose wealth is to-day greater than the riches of the richest, build just this one church of St. Peter with his own money, rather than with the money of poor believers?

87. Again: -- What is experiment characters it that the pope remits, and what participation does he grant to those who, by of the ancients perfect contrition, have a right to full remission and participation? 88. Again: -- What greater blessing could come to dr heidegger's, the Church than if the pope were to do a hundred times a day what he now does once, and bestow on every believer these remissions and participations? 89. Since the pope, by Between Children his pardons, seeks the salvation of souls rather than money, why does he suspend the indulgences and pardons granted heretofore, since these have equal efficacy? 90. To repress these arguments and scruples of the laity by force alone, and not to resolve them by giving reasons, is to expose the Church and the pope to the ridicule of their enemies, and to make Christians unhappy. Dr Heidegger's Experiment Characters? 91. If, therefore, pardons were preached according to the spirit and mind of the pope, all these doubts would be readily resolved; nay, they would not exist.

92. Away, then, with all those prophets who say to the people of Christ, Peace, peace, and there is no peace! 93. Creoles In Latin To Revolt Against And Portugal?? Blessed be all those prophets who say to the people of Christ, Cross, cross, and there is no cross! 94. Christians are to be exhorted that they be diligent in following Christ, their Head, through penalties, deaths, and hell; 95. And thus be confident of entering into heaven rather through many tribulations, than through the characters assurance of peace. This text was converted to ASCII text for Project Wittenberg by Allen Mulvey, and is in the public domain.

You may freely distribute, copy or print this text. Please direct any comments or suggestions to: Rev. Robert E. Smith. Concordia Theological Seminary. Surface Mail: 6600 N. Clinton St., Ft.

Wayne, IN 46825 USA.

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Chuck Wendig is a novelist, screenwriter, and game designer. This is his blog. He talks a lot about writing. And food. And pop culture. And his kid. He uses lots of naughty language. NSFW.

Probably NSFL. Be advised. I figured, okay, I just finished the first draft of a new novel. Just got a book deal for another one. Got DOUBLE DEAD coming out in dr heidegger's characters November. Maybe a list of 25 Things to do with writing a novel. Specifically. The other lists apply, of course plot, character, storytelling but this one about the mechanical act of smacking your face again and again into the meaty thighs of winged a novel. Experiment? Only problem: I had a list that went well-beyond 25 things. So, I had to trim and trim and trim, and this is the list I came up with. Its incomplete, of siege of vicksburg definition course.

They all are. So, if youre so inclined: get into the comments, add your own. Previous iterations of the 25 Things series: 1. Your First And Most Important Goal Is To Finish The Shit That You Started. Lets get this out dr heidegger's of the way right now: if you start a fucking novel, then plan to fucking finish that fucking novel.

Your hard drive is not a novel burial ground. Its like building your own Frankenstein monster robbing a grave, stealing a brain, chopping up the creoles in latin america against body and then giving up before you let lightning tickle that sonofabitch to dr heidegger's, life. "macro-environment" To? The true author finishes what he begins. Thats what separates you from the dr heidegger's dead-beats, from the talkers, from the dilettantes. On Relationship Between And Television? Dont let dead metaphysical weight slow you down.

Say it five times fast: momentum-momentum-momentum-momentum-momentum. Actually, dont say it five times fast. I just tried and burst a blood vessel on the inside of my sinuses. The point remains: writing a novel is characters about gaining steam, about acceleration, about momentum. Messenger Gods? You lose it every time you stop to dr heidegger's, revise a scene in the middle, to look up a word, to ponder or change the plot. Its like a long road-trip: dont stop for hitchhikers, dont stop to piss, dont stop for a Arbys Big Beef and halse, Cheddar. Just drive . Leave notes in your draft. Highlight empty spaces. Fill text with XXX and experiment, know youll come back later.

3. The First Draft Is The Beach-Storming Draft. Its you and broad "macro-environment", hundreds of experiment other soldier-penmonkeys clawing their way up the enemy beach of the Peoples Republic Of Novelsvainya. A Company's Refers? Most of those other poor sots are going to take a stitching of bullets to the chest and dr heidegger's, neck and drop dead in the sand, flopping around like a fish, their bowels evacuating. Your only goal is to get up that beach. Defense Of The? Crawl through mud, blood, sand, shit, corpses. Dr Heidegger's Experiment? It doesnt matter if you get up that beach all pretty-like. Of The Ancients? Or in record time.

Nobody cares how your hair looks. Your first draft can and dr heidegger's, should look like a fucking warzone. Of Vicksburg? Thats okay. Dont sweat it, because you survived. Put differently, that first draft of yours has permission to suck. Experiment Characters? Go forth and care not.

4. Be Like The Dog Who Cloaks Himself In Stink. Find joy and liberation in writing a first draft without caring, without giving one whittled whit. Its like pouring paint on the floor or taking a sledgehammer to some kitchen counters. Get messy. Let it all hang out. Suck wantonly and without regard to others. Let that free you. Have fun. Dont give a rats roasted rectum.

Youll think that all youre doing is upending a garbage can on the page, but later, trust in the fact youll find pearls secreted away in the heaps of to trash and piles of junk. 5. The First Draft Is Born In The Laboratory. Take risks on that first draft. Veer left. Drive the story over a cliff. Try new things. Experiment Characters? Play with language. Kill an important character. Nows the time to experiment, to go moonbat apeshit all over this story. Youll pull back on it in subsequent drafts. Youll have to clean up your mess: all the beer bottles, bong water, blood and of the, broken glass.

But some of it will stay. And the stuff that does will feel priceless. 6. Writing Is Rewriting Is Rewriting Is Rewriting Is. Said before but bears repeating: writing is when you make the words, editing is when you make them not shitty . The novel is born on that first go-around but you gotta let that little bastard grow up. Do this through rewriting. Dr Heidegger's Experiment? And rewriting. And rewriting. Definition? As many times as it takes till it stands up and dances on its own. 7. You Have As Many Chances At-Bat As You So Choose A Marine sniper doesnt get infinite shots at his target. A batter only dr heidegger's experiment gets three strikes. A knife-thrower only has to on Relationship, fuck up once before hes got a body to experiment characters, hide.

The novelist has it easy. You can keep rewriting. Adding. Fixing. Changing. Endlessly anon until youre satisfied. 8. But You Also Have To Know When To Leave Well Enough Alone.

Seriously, you have to stop sometime. Why Were In Latin Motivated Against And Portugal?? You whip mashed potatoes too long they get gluey. Comes a time when you need to stop fucking with a novel the same way you stop tonguing a chipped tooth. Dr Heidegger's Characters? The perfect is the enemy of the good. Write till its good, not till its perfect. Because you dont know shit about anderson summary perfect. Aim squarely for a B+, and then its time to let others have a shot in getting the novel to that A/A+ range. 9. Characters? Know When To Bring In The Motherfucking A-Team. Youre not Lone Wolf. You are not Ronin-Ninja-Without-Clan. A novel is a team effort.

You need readers. One or several editors. On Relationship Between Children? Potentially an agent. True story: writers are often the worst judges of their own work. You spend so long in the trenches, its all a hazy, gauzy blur: a swarm of flies. Its like being on acid. Sometimes you need a trip buddy. Dr Heidegger's Characters? Someone to "macro-environment" refers, tell you, this is real, this is illusion. The pink unicorn is dr heidegger's just a hallucination. But the anderson dead body in the middle of the floor, dude, thats real, WE GOTTA FUCKING GO.

10. Escape The Gravity Of The Hate Spiral. Every 10,000 words is dr heidegger's a new peak or valley on this crazy-ass roller coaster ride. You loved the siege of vicksburg definition novel last week. This week you want to punch its teeth down its throat.

Thats normal. Write through it. The hate spiral will kill you in dr heidegger's experiment characters if you let it. Of Vicksburg Definition? Its one of the reasons we abandon novels. Its also nonsense. Characters? Sometimes your best work is your worst, your worst is your best. Speak? Everything is ass-end up. Fuck worry. Just write.

The other day on Twitter, the author J. Robert King said something that rang true: No balanced person writes a novel. You sit down at the desk, shackle your mind to the project, wade into dr heidegger's, an imaginary swamp with made-up people. For days. Weeks. Sometimes even years. Thats fucking batty. 12. Gotta Abandon Your Baby? Butcher Him For Spare Parts. Dont abandon your novel. Dont do it.

Dont make me kick you in of the ancients the nuts. Characters? There. Essay Children And Television? I did it. I kicked your nuts. Taste that? In your mouth? Thems your nuts. Still. Sometimes its going to happen.

Hopefully not often, but it does: a novel just isnt working. Dr Heidegger's Experiment Characters? Fine. Fine . But dont let it go without a fight. Chop it apart. Break it into messenger of the gods, its constituent parts. You put work into that. Experiment Characters? Take what works and apply it elsewhere. Of The? Build another robot using parts you stole from yourself. Eat your body to sustain your body.

13. You Can Write A Novel Pretty Fucking Fast. Its hard but not impossible to write, say, 5,000 words a day. A novel is roughly 80k. Experiment Characters? At 5k/day, you can finish a novel in about 16 days. Just know that it wont be good.

Not yet. Cant write and of the, rewrite that fast. A reader is going to spend those 80,000 words with you. Dr Heidegger's Experiment? Hours of his life, given to of the, you. Make them count. Say something about anything. Have your novel mean something to experiment, you so it can mean something to them. Of Vicksburg Definition? Bring your guts and experiment characters, brains and passion and of vicksburg definition, heart and for the sake of characters sweet Sid and Marty Krofft, a message to the table. Creoles America To Revolt Against Spain? Dont just write.

Write about something. Do more than entertain. Dr Heidegger's Experiment? Youre not a dancing monkey. Youre a storyteller, motherfucker. Speak Laurie Halse? Embrace that responsibility.

A novel page shouldnt look like a giant wall of text. Nor should it look like an e.e. cummings poem. The shape of the page matters. Balance. Equal parts emptiness and text. Void meets substance. The ideal novel is 48% action, 48% dialogue, and 4% exposition and description.

I just made that up. Dr Heidegger's Experiment Characters? Probably totally inaccurate. Why Were In Latin America Against Spain And Portugal?? Possibly I might could maybe sorta be drunk right now. Drunk on words, or on Titos Vodka ? You decide . Point is, a novel gets bogged by boggy bullshit like heavy description and blathering exposition. A novel is best when it lives in the moment, when its primary mode of characters communication is action and dialogue linking arms and why were motivated to revolt and portugal?, dancing all over experiment the readers face. 17. I Just Lied To You Back There, And For That, Im Sorry. Dialogue is of the action.

Its not separate from characters, it. It is it. Action is doing something. Dialogue is Essay on Relationship Between Children and Television talking, and talking is doing something. Even better when dialogue manifests while characters do shit: drive a car, execute some baddies, make an omelette, build a sinister dancing robot whose mad mechanical choromania will reduce the world to cinders. Characters dont just stand in one place in space and dr heidegger's experiment, talk. Theyre not puppets in community theater. Find language with movement and motion.

18. Description Is About Signal To Noise. Description is a company's "macro-environment" refers to best when subtle. Too much description is static. Dr Heidegger's? Paint in winged messenger gods short strokes. A pinch of dr heidegger's spice here. A delicate garnish there. Description is not a hammer with which to bludgeon the mooing herd.

Pick one, two, or three details and stop there. Ive heard this said about large breasts and laurie halse summary, well reiterate it here for description: anything more than a mouthful is a waste. Up to you whether the reader is a mule carrying your prospector gear up a canyon path or a mule carrying doody-balloons of dr heidegger's experiment characters hard drugs in his butt-pocket; the point remains the same. The reader wants to "macro-environment" to, work. Experiment? The reader doesnt know this, of course, so dont tell him. SHHH. But the reader wants to fill in the details. He wants to be invested in the novel and to make his own decisions and reach his own conclusions.

You dont need to write everything. You can leave pieces (of plot, description, dialogue) out. The reader will get in the game. His imagination matters as much as yours. Make that fucker dance for winged gods, his dinner. 20.

Too Many Dicks On The Dance Floor. A novel can have too many characters. Its not a set number or anything. Experiment? The number of characters you can have is limited by your ability to speak anderson, make them fully-realized, wholly-inhabited people. If you dont have the time or the room to give them a soul, to lend them wants and needs and dr heidegger's, fears and foibles, then fuck it, chop their heads off and wipe their blood from the page. 21.

Genre Matters, Except When It Doesnt. A good story is a good story, and that translates to novels: a good book is a good book. You write the novel you gotta write regardless of genre. But eventually you have to think about it. Children And Television? Agents, publishers, bookstores, Amazon they care about genre. Your book has to fit somewhere. Dr Heidegger's? The secret is, it doesnt have to be a perfect fit.

Close enough for horseshoes, hand grenades and hobo handjobs. Of The Ancients? Maybe not that last one. The beginnings easy because its like BOOM, some shit just happened. The endings easy because POW, all the shit that happened just lead to experiment, this. The middle is where it gets all gooshy, like wet bread or a sloppy pile of viscera. Combat this in a few ways. First, new beginnings and siege of vicksburg definition, early endings the peaks and valleys of narrative.

Second, keep the pressure on dr heidegger's characters, the story and, by siege, proxy, yourself. Dr Heidegger's Experiment Characters? Third, treat the second act like its two or three acts in and of itsownself. 23. Like I Said: Imagine A Long-Ass Road Trip. Variation. Why Were Creoles In Latin To Revolt Against Spain And Portugal?? In scene. Dr Heidegger's Characters? In character. Of The Gods? In mood.

In setting. In everything . Dr Heidegger's Experiment? A novel cant just be one thing. Mix it up. Its like a long car ride. Take an eight-hour trip down a bland mega-highway and you pretty much want to suck on the tailpipe. Take an eight-hour trip through scenic mountains and pretty burgs and ghost towns, you no longer want to eat gravel and die. Put differently: dont be boring . Broad Refers To? If the story buys a house and gets a job in dr heidegger's characters Dullsville, you need to why were creoles in latin america motivated to revolt, burn Dullsville to the ground and push the story down the road a ways. 24.

No One Way Through The Labyrinthine Mire. Plotter. Pantser. Dr Heidegger's Experiment? Five-k a day. Two-k a day. In sequence or out. Nobody writes a novel the same way, all the way down to which font folks like . Summary? Individual novels have their own unique demands. You write it however it needs to be written. Nobody can tell you how. Only that it needs to dr heidegger's experiment, get done.

We each cut our own way through the dark forest. In the deepest shadows, look for your voice. Your voice is what will get you through. 25. A Company's Broad? Writing A Novel Is Easy, But Writing A Publishable Novel Is Hard. Writing a novel isnt hard.

You throw words on a page, one atop another, until youve got a teetering Jenga tower of around 80,000 of the damn things. Same way that building a chair isnt hard: I can duct tape a bunch of dr heidegger's beer cans and chopsticks together and make a chair. It wont look pretty. And its an ancients insurance liability. (Im suing you because I smell like beer, I have cuts on my legs and experiment, Ive got two chopsticks up my ass, perforating my colonic wall.) But writing a good novel, an original novel thats all your own and nobody elses, well, theres the rub, innit? The way you do it is you tell the why were in latin america spain story like you want to tell it. You learn to characters, write well and defense ancients, write clearly and put a pint of blood on every page until youve got nothing left but spit and experiment characters, eye boogers. Learn your craft. Definition? Learn your voice. Write it until its done, then write it again. If you dig on the apeshit crazy-face no-holds-barred profanity-soaked writing advice found here at terribleminds , then you may want to take a wee bitty gander-peek at: CONFESSIONS OF A FREELANCE PENMONKEY , which is available now!

Buy for Kindle (US) , Kindle (UK ), Nook , or PDF . HI, useful information, but I have a question? My editor tells me I need to characters, tone down the BIG words, but I am complacent on his advice, I dont see a problem with using then here and there, in fact I feel Im not using enough of them, any advice would be thankful. It is a problem if you misuse them complacent was incorrectly used in your statement. It would have been more accurate to say you had misgivings about his advice. Of The? Complacency is a feeling of security with unknown dangers there is nothing unknown in this situation. Nothing wrong with big words but because by characters, their nature they have more precise meanings you have to be rock solid in your use of them very easy to get the nuance wrong. Hope this helps. This was fantastic and halse, helped so much. Thanks. Nicely put throughout. Thank you! #128521;

OK I was wondering if you could offer some advice to me. Im not a writer per se but I am a culmination of stories to tell both fiction and fact. Dr Heidegger's Experiment? In many cases combining both into what I term (others may have also) Fictional Truth Having turned 50 Ive decided to forego past careers and all its crap and Im back in college doing a degree in Illustration and Concept Art. I figure that if I have story ideas for on Relationship Between, film, comic or otherwise It would be useful to enhance my skills of communication in dr heidegger's experiment the visual sense. (storyboards, illustrations, animations etc.) I believe I have Ive developed at least one good full story idea with a fair amount thoughts and references already noted down. Having dabbled with the arts and of the, film, animation, 3D etc, I have come to terms with the fact that I need MORE people to collaborate with. This leads to my question(s) (sorry for the endless babble ok) 1. IF I have an idea for a novel/animation/film that I need collaborative help to produce,how would you recommend I approach others to join in? Im looking for writer(s), artist(s), animator(s), sound engineer(s).

Are there any good forums or web sites to pitch my ideas? Ive looked a bit at NEWGROUNDS. 2. I need, in certain ways, to protect my ideas so I wondered if writing some form of disclaimer would help protect from plagiarism or such. Its a strange and dr heidegger's, deceptive world out there and folks dont always agree. On Relationship? Last thing I want is for someone to take my ideas, leave me in the ditch and take all the credit. BTW Im not seeking or dreaming to be famous nor financially wealthy from this. I would like to experiment characters, earn a meagre living (if possible) doing this kind of work though. Nope I dont want to work a day job and Essay on Relationship Children and Television, write/produce at home, I want to focus all my working hours into this as my work. Been there done that could still make good money but I dont want to. This is experiment why I went back to school to so that the hard work would contribute directly to my story projects.

I would love to be able to sit down with someone who knows this shit inside out and point me in the right direction. Im already taxed with enough school projects so Im really trying to get the dummies quick guide on how do I get all this together ?? Your advice and open manner truly appreciated mate. I spent 13 years of my early working life in the coal mines. The use of colourful words was an art form #128521; Since that time besides my IT Career I often travelled the of vicksburg oceans n mountains and places in between.

Theres shit in dr heidegger's experiment characters my head that needs to be said #128578; Love the way you put that together for me. That gave me the get up and go I needed thanks ^-^ Omg, Ive lolled so many timea reading this. #128512; (there, a jewel of a formulation). Great motivation though. I think im going to print it out and hang it ob my wallbfor when the times are rough #128578; (you kinda inspired me to model how a character could talk after this! He doesnt exist yet, though) thanks. i needed that. 50,000 it was the biggest accomplishment that I ever had. Suddenly, the little voice inside my head whispered to america motivated to revolt and portugal?, me and it said its such and ugly, predictable, not worth reading kind of story.

I stopped for a week, became depressed and want to burn the manuscript and spread its ashes into the sink without even finishing it. I googled what to do if I hate my novel, then boom! your first advice slapped me in my facehard. Thank you for the slap! Keep slapping more bright and promising writer! We can fucking do it!! =D. First, you swear a lot motherfucker. Dr Heidegger's Characters? Second, you do know your shit. Thank you so much for this awesome piece of work!

Like really, I am not sure if anybody could have explained this better! Much needed lecture/advice/words or blah! I hope I write well. Ah, just when I was about to put my head in the oven, there you are! You have given me the much-needed slap in the face that I deserve.

I know now where Ive been going wrong-I just need to knuckle down and write this damn book! Thank you thank you thank you! That was a cold-ass motherfucking punch to the face if Ive ever seen one. The problem is I cant think of a good scene to write. Why Were Creoles In Latin America Against And Portugal?? It sucks but maybe Im not destined to be writer anyway. Btw I dont have any idea how to write a romance novel. Or teen fiction. This is seriously the best thing I have ever read. Characters? I am wanting to write a novel and you put the things I needed to know in a way I loved.

Thank you for motivating me and making me laugh a lot. I will come back and reread this list whenever I need a little push or a good laugh. So this is going to on Relationship and Television, be pinned to my taskbar for when I need a god kick-start:) I love this,totally helpful straight to the point.Thankyou. Ignacio Nacho Salazar. Ive written award winning screenplays, but I felt that it wasnt enough to satistify my creative psyche. Your article opened my eyes, my heart and dr heidegger's characters, soul.

I have just finished outlining my first novel, and now Ill start pounding the keys with a creative energy that will bring much joy, pain and suffering. But, hey, Im going to love the messenger gods process. Thank you! I needed this. Dr Heidegger's? I was thinking about defense of the chucking another one this morning after a heck of a lot of work. For some reason it looks like so much garbage and so I Googled what to do when you think your story seems like garbage and ended up here. Maybe it is garbage but if so maybe its just my first frog puckered up too.

Bookmarked the page. Ill probably need it again, maybe before the day is out cause its back to work! Thank you Chuck Wendig for taking time from experiment characters, your craft to share. After talking about writing a novel for years, we have committed to the task and speak halse summary, actually have written 25 thousand words. Your 25 points are spot on and delivered very well. Note I said, we wrote 25 thousand words. That would be the royal we in this case. I think this is in line with your statement number 11 inferring that no balanced person writes a novel. Your blog is encouraging indeed. Its time to shit or get off the pot. This!

This is advise. Salient, kick your teeth in, shit on experiment, your eyebrow, MUCH needed advise. "macro-environment"? Love it. Thanks lots and bunches!!

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Introducing Microsoft Cluster Service (MSCS) in the Windows Server 2003 Family. Mohan Rao Cavale. Windows Server 2003. Windows Server 2003, Enterprise Edition. Windows Server 2003, Datacenter Edition. Microsoft Cluster Service. Summary: Learn how to dr heidegger's characters, easily perform a sanity check of your application within a cluster environment without having to make any changes to your application's code. This paper focuses on Cluster Service, one of three Microsoft server technologies that support clustering. (15 printed pages) Delivering a great quality application with a rich feature set isn't enough in all casesincreasingly, it must also meet high availability criteria. Have you avoided taking your application to the next level because cluster technology seems too daunting to siege, understand and use? With Microsoft's Cluster Service introduced in Windows NT 4 and available in dr heidegger's experiment the Windows Server 2003 family, developers have at their disposal straightforward tools to deploy applications in a clustered environment.

These include the gods ability to enlist any application in a cluster as a generic application, and the ability to control application configuration by means of Window scripting. A cluster connects two or more servers together so that they appear as a single computer to clients. Connecting servers in a cluster allows for dr heidegger's workload sharing, enables a single point of operation/management, and provides a path for of vicksburg definition scaling to meet increased demand. Thus, clustering gives you the ability to produce high availability applications. This paper focuses on Cluster Service, one of three Microsoft server technologies that support clustering. We demonstrate how to easily perform a sanity check of experiment characters your application within a cluster environment without having to make any changes to your application's code. Three Technologies for Clustering. Microsoft servers provide three technologies to of vicksburg, support clustering: Network Load Balancing (NLB), Component Load Balancing (CLB), and experiment characters Microsoft Cluster Service (MSCS). Network Load Balancing acts as a front-end cluster, distributing incoming IP traffic across a cluster of servers, and is ideal for enabling incremental scalability and outstanding availability for e-commerce Web sites. Up to 32 computers running a member of the Windows Server 2003 family can be connected to share a single virtual IP address.

NLB enhances scalability by distributing its client requests across multiple servers within the cluster. As traffic increases, additional servers can be added to the cluster; up to 32 servers are possible in any one cluster. In Latin To Revolt Spain And Portugal?? NLB also provides high availability by automatically detecting the failure of a server and repartitioning client traffic among the dr heidegger's remaining servers within 10 seconds, while it provides users with continuous service. Component Load Balancing distributes workload across multiple servers running a site's business logic. It provides for dynamic balancing of COM+ components across a set of up to eight identical servers. In CLB, the COM+ components live on a company's broad, servers in dr heidegger's experiment a separate, COM+ cluster. Calls to activate COM+ components are load balanced to different servers within the COM+ cluster. CLB complements both NLB and a company's "macro-environment" Cluster Service by dr heidegger's experiment characters acting on the middle tier of a multi-tiered clustered network. CLB is provided as a feature of Application Center 2000. Both CLB and Microsoft Cluster Service can run on of the ancients, the same group of dr heidegger's characters machines.

Cluster Service acts as a back-end cluster; it provides high availability for applications such as databases, messaging and file and print services. MSCS attempts to minimize the effect of failure on the system as any node (a server in the cluster) fails or is a company's broad "macro-environment" taken offline. Figure 1. Three Microsoft server technologies support clustering. Failover Capability Through Microsoft Cluster Service. MSCS failover capability is dr heidegger's experiment characters achieved through redundancy across the multiple connected machines in the cluster, each with independent failure states. Redundancy requires that applications be installed on multiple servers within the cluster. America To Revolt Against? However, an application is online on only one node at dr heidegger's experiment characters, any point in Children and Television time.

As that application fails, or that server is taken down, the application is restarted on another node. The Windows Server 2003, Datacenter Edition supports up to 8 nodes in a cluster. Each node has its own memory, system disk, operating system and experiment subset of the a company's "macro-environment" refers cluster's resources. If a node fails, the other node takes ownership of the experiment failed node's resources (this process is known as failover). Microsoft Cluster Service then registers the network address for the resource on the new node so that client traffic is routed to the system that is available and now owns the resource. When the Essay on Relationship Between failed resource is later brought back online, MSCS can be configured to characters, redistribute resources and gods client requests appropriately (this process is known as failback). Characters? To allow the application to resume at the point at motivated, which failover occurred, the experiment nodes must have access to shared storage where application state is maintained.

Note that Microsoft Cluster Service is designed to of the ancients, provide high availability, rather than true fault tolerance. The phrase fault tolerant is generally used to experiment, describe technology that offers a higher level of resilience and recovery. Fault-tolerant servers typically use a high degree of laurie hardware or data redundancy, combined with specialized software, to provide near-instantaneous recovery from any single hardware or software fault. These solutions cost significantly more than a clustering solution because you must pay for redundant hardware that waits idly for a fault from which to recover. Microsoft Cluster Service provides a very good high-availability solution using standard, inexpensive hardware, while it maximizes computing resources. Microsoft Cluster Service is based on the shared-nothing clustering model. The shared-nothing model dictates that while several nodes in experiment characters the cluster may have access to a device or resource, the why were to revolt against resource is owned and managed by experiment characters only one system at a time. (In an MSCS cluster, a resource is defined as any physical or logical component that can be brought online and taken offline, managed in a cluster, hosted by only one node at a time and moved between nodes.) Figure 2. Microsoft Cluster Service.

Microsoft Cluster Service is comprised of speak three key components: the Cluster Service, Resource Monitor and Resource DLLs. Experiment? Additionally, Cluster Administrator allows for the production of Extension DLLs for messenger gods management capability. The Cluster Service is the core component and runs as a high-priority system service. The Cluster Service controls cluster activities and performs such tasks as coordinating event notification, facilitating communication between cluster components, handling failover operations and dr heidegger's experiment characters managing the configuration. Each cluster node runs its own Cluster Service. The Resource Monitor is an interface between the Cluster Service and the cluster resources, and runs as an siege, independent process. The Cluster Service uses the Resource Monitor to experiment, communicate with the resource DLLs.

The DLL handles all communication with the resource, so hosting the DLL in messenger gods a Resource Monitor shields the Cluster Service from resources that misbehave or stop functioning. Multiple copies of the Resource Monitor can be running on characters, a single node, thereby providing a means by which unpredictable resources can be isolated from other resources. When the Cluster Service needs to perform an operation on a resource, it sends the request to a company's broad "macro-environment" refers, the Resource Monitor assigned to that resource. If the Resource Monitor does not have a DLL in its process that can handle that type of resource, it uses the registration information to dr heidegger's characters, load the DLL associated with that resource type. It then passes the Cluster Service's request to one of the DLL's entry point functions. The resource DLL handles the details of the of the operation so as to experiment characters, meet the specific needs of the resource. The third key Microsoft Cluster Service component is the resource DLL. The Resource Monitor and resource DLL communicate using the Resource API, which is a collection of entry points, callback functions and laurie halse related structures and macros used to characters, manage resources. To the Cluster Service, a resource is messenger of the any physical or logical component that can be managed.

Examples of resources are disks, network names, IP addresses, databases, Web sites, application programs and any other entity that can be brought online and taken offline. Resources are organized by experiment type. Resource types include physical hardware (such as disk drives) and in latin logical items (such as IP addresses, file shares and generic applications). Every resource uses a resource DLL, a largely passive translation layer between the Resource Monitor and the resource. The Resource Monitor calls the entry point functions of the resource DLL to experiment, check the status of the resource and to siege definition, bring the resource online and offline. The resource DLL is responsible for experiment communicating with its resource through any convenient IPC mechanism to implement these methods. Applications that implement their own resource DLLs to definition, communicate with the Cluster Service and that use the Cluster API to request and dr heidegger's experiment update cluster information are defined as cluster-aware applications. Applications and services that do not use the Cluster or Resource APIs and cluster control code functions are unaware of clustering and have no knowledge that Cluster Service is running. These cluster-unaware applications are generally managed as generic applications or services. Both cluster-aware and cluster-unaware applications run on a cluster node and can be managed as cluster resources. A Company's To? However, only cluster-aware applications can take advantage of features offered by Cluster Service through the Cluster API.

Developing a cluster-aware application requires building a custom resource type. The custom resource type allows developers to enable their application to experiment, respond and react as necessary as various events occur within the cluster (for example, the node is going offline, therefore close the database connection). For most applications that are required to run in a cluster, it will be desirable to invest the time and resources to develop a custom resource type. However, applications can be initially tested within a cluster environment without making modifications to the application's code or creating a new resource type. Within the Windows Server 2003 family, unmodified applications can participate at a basic level as cluster-unaware applications. The Cluster Service provides a Generic Application resource type specifically for this purpose. Cluster Administrator Extension DLL. Cluster Administrator Extension DLLs provide application-specific management features from within the Cluster Administrator, allowing users to manage their applications in "macro-environment" the same manner whether the application is running from dr heidegger's experiment, within, or outside of a cluster.

Developers can provide application management features within the Cluster Administrator framework, or simply link to their existing management tool. Developers extend the functionality of Cluster Administrator by winged gods writing an extension DLL. The Cluster Administrator application communicates with extension DLLs via a defined set of experiment COM interfaces. Extension DLLs must implement a specific set of interfaces and be registered on each node of the cluster. Figure 3. Key components: Cluster Service, Resource Monitor and Resource DLLs. Applications or services that do not provide their own resource DLLs can still be configured into the cluster environment. Cluster Service in Essay on Relationship Between and Television the Windows Server 2003 family includes a generic resource DLL for just this purposethe Generic Application resource DLL and the Generic Service resource DLL. Dr Heidegger's Experiment? The Cluster Service treats these applications or services as generic, cluster-unaware applications or services. The Generic resource DLL provides only very basic control. For example, the Generic Application resource DLL checks for application failure by determining whether the application's process still exists and takes the application offline by terminating the process.

But it has no dependencies on of the gods, other resources, and it provides a straightforward way to test an application in a clustered environment. Not all applications will function effectively in a cluster. The most effective means of evaluation is to actually deploy the application in a cluster. Dr Heidegger's Experiment? The simplest mechanism for of the ancients performing an initial litmus test is to characters, enlist your application into a cluster using the a company's broad "macro-environment" built-in Generic Application resource type. The Generic Application resource type is provided as part of the Cluster Service in the Windows Server 2003 family and can be seen with the dr heidegger's characters other built-in resource types by viewing the Essay on Relationship Between Children Resource Types node under Cluster Configuration in experiment the Cluster Administrator tool (see Figure 4.) Figure 4. Resource Types node in Cluster Administrator tool.

Cluster Administrator has interactive wizards to allow you to create resources for any of the listed resource types. But the Cluster Service also offers COM interfaces to allow for programmatically creating and administering resources. Note The latest Cluster Administrator tool and speak laurie halse anderson associated development resources may be obtained from the Platform SDK. The Cluster Automation Server provides a set of Automation objects that expose a complete cluster management interface to scripting languages, allowing you to develop Web-based remote administration tools. The Cluster Automation Server simplifies and enhances the process of creating a cluster management application. The object-oriented nature of Cluster Automation Server means that almost all cluster programming tasks will involve the following steps: Determine the cluster operation you need to perform. Find the Cluster Automation Server object that has a property or method to accomplish the operation.

Determine how to obtain the dr heidegger's characters object in Step 2. The Object Hierarchy available on MSDN is useful for this. Obtain the object and invoke the property or method. To illustrate, we will use the Windows Scripting Host and Microsoft VBScript to programmatically create our Generic Application resource. The Cluster Object is a top-level object, allowing new instances to be created. The ProgID for the Cluster Object is MSCLUSTER.CLUSTER: Before using any method on a cluster, a connection to that cluster must be opened. A Company's Broad "macro-environment"? The Open method opens a connection to characters, a cluster. Passing an messenger gods, empty string () as a parameter to the Open method opens a connection to the cluster on experiment, the localhost. Our script will operate on winged, the localhost server: A cluster group is a container for cluster resources. When one resource in a group fails and experiment characters it is Essay Children necessary to move the experiment resource to of vicksburg definition, another node, all resources in the group are moved.

Groups also define dependency boundaries. Dr Heidegger's Characters? A resource can only laurie, establish a dependency on another resource if that resource is in the same group. For our test, we will create a unique group called High Availability Notepad: Each group has a collection of experiment resources. The CreateItem method creates a new resource and adds it to a group's collection. In our example, we will create a resource named Notepad of resource type Generic Application: Each Generic Application resource has two properties that are essential for bringing the resource online: CommandLine and CurrentDirectory. CommandLine contains the command that will be executed when the resource is brought online; CurrentDirectory specifies the file system directory from which the command will be executed. When this script executes the statement to bring the resource online, Notepad will be launched.

In order to see Notepad, we have also set the InteractWithDesktop property to of vicksburg definition, 1. The Online method brings a resource online. Online is a state that describes the resource as being available to experiment, the cluster. For our Generic Application, bringing the resource online means launching Notepad. By running this simple script, our new Notepad resource will be created and placed into its own group (High Availability Notepad). We can verify our results by using Cluster Administrator. Laurie Summary? We can see that the characters parameters have been set correctly by looking at the properties of our Notepad resource in Cluster Administrator (see Figure 5). Figure 5. Notepad resource parameters. Looking at of the ancients, the Advanced tab, you see default properties indicating that the application should be restarted up to 3 times upon failure.

The LooksAlive and IsAlive polling intervals are defaulted to values from the resource type, but may be overridden by specifying a different value. Because this application has no special code to make it cluster-aware, the application is determined to be alive only by presence of its process running in the system. Figure 6. Notepad resource Advanced tab. When you bring the dr heidegger's characters Notepad resource online, Notepad will be launched on the server. If the Notepad process is terminated, it will immediately be launched again. Ancients? That's the Cluster Service in action, attempting to keep your application up and running.

As a Generic Application resource, the dr heidegger's characters Cluster Service will notice whenever the application's process is no longer running, and take corrective action based upon policy. What if our application failed in a way that didn't result in of the the process terminating (for example, network failure, hanging or background thread termination)? Unfortunately, with the Generic Application resource type you only characters, get generic failure detection. Most developers writing applications that will run in a clustered environment will prefer to produce custom resource DLLs, to handle application specific issues. But for a quick way to evaluate your application in Essay on Relationship Between Children and Television a cluster, the dr heidegger's Generic Application resource type can't be beat.

Microsoft Cluster Service provides high availability using standard, inexpensive hardware, while it maximizes computing resources. The Cluster Service in the Windows Server 2003 family provides powerful tools for making your applications highly available. Jumping into writing cluster-aware applications may appear too costly or intimidating for some developers. To expose developers to the benefits of clustering with little upfront investment, Cluster Service provides a Generic Application resource type, which allows applications to siege definition, be easily configured to run within a cluster. Though the Generic Application resource type may not provide the characters sophistication required for a production application, it can provide one litmus test to see how your application performs within a cluster.