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Collect foreign exchange spot and forward rate data and interest rate data for two currencies: examine whether CIRP holds: Analyze and discuss the results

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  1. What was at stake in the Human Resources Management (HRM) policy.
    1. Advantages of manpower planning.
    2. Steps in manpower planning.
    3. Factors which affect the efficiency of labour.
    4. Downsizing of manpower.
  2. Problems and the solutions brought.
  3. Critics and advice.
  4. Conclusion.

The purpose of this assignment is to analyse whether the Covered Interest Rate Parity (CIRP) holds in the relationship between two actual currencies. I decided to focus on the euro and the dollar because it is the financial instrument the most active and the most used in the world. Since the euro has been introduce in 1999 its value has fluctuated vis a vis the dollar. At the beginning it has lost some of its value, then it appreciated and now its value is widely above the one in 1999. €uro has reached its peak vis a vis the dollar in November 2007 at USD $1.45/1€. Ups and downs of the exchange rate have coincided with variations of the interest rates between investments in the Euro zone and in the US. CIRP links these two variables and when it holds, investments made in two different countries should have the same value at the end of the period.

[...] Mobility within the firm was one of the main priority for Million, who was also in favour of promoting young executives and reluctant to redundancies. The promoting and recruiting are mainly based on discussions with the appliers. He has to meet the Human Resource Manager twice, and also a specialist. Moreover, Million use to observe a lot the employees at work, in order to make his idea on their potential and capacities. He strongly believes in the adaptability of workers in the banking sector, and that is why he bet on the firm's existing potential. [...]


[...] Changes in employment practices (use of subcontractors or agency staffs, hiving-off tasks, buying in, substitution, etc.) Variations, which respond to new legislation, for example payroll taxes or their abolition, new health and safety requirements Changes in Government policies (investment incentives, regional or trade grants, etc.) What should emerge from this ?virtuous circle? is a solid reflexion and logical staffing demand schedule for varying dates in the future which can then be compared with the compulsory supply schedules. The comparisons will then indicate what steps must be taken to achieve the manpower balance. [...]

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