The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the Il\.1F or IMP policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and lo further debate.Many surveys of the EeB' s monetary framework emphasize the inability of financial markets to correctly predict monetary policy decisions. At the same time, these surveys of financial market participants have given relatively high marks to the United States Federal Rescrve and the Bank of England on their ability to bc undcrstood by financial markets. Against this background, this paper examines the ability of financial markets to corrcctly anticipate these three central bank policy decisions over the first 3Y, years of the ECB. The paper relies on calculations that market participants employ in anticipating policy changes and on term structure regressions that provide ex post evidence of market surprises. While tl,e results suggest that all three central banks are broadly predictable, markets have had difficulty anticipating large changes and cuts in EeB policy interest rates. Thcse surprises may be tied to the large number of policy mectings, particular characteristics of the EONIA money market, and the unique circumstances ofthe EeB. An added factor may be the absence of a consistent policy on communicating the current stance-if any-of the ECB's policy bias on the future direction of interest rates.
A comprehensive emergency management plan (CEMP) is key to minimizing the disruption of patient care and services during and after a natural or man-made disaster. The home health nurse can play a key role in enhancing, expanding, and evaluating the effectiveness of the organization's disaster plan. The components of a CEMP and lessons learned from actual implementation of disaster plans in home care are addressed. The disasters and emergencies of the past few years, such as threats of terrorism, hurricanes, floods, wildfires, tornadoes, and earthquakes, have validated the need to extend the emergency preparedness plan to a more comprehensive approach to emergency management. Communities, healthcare providers, and individuals/families all have been urged to take a more comprehensive look at their readiness for these types of events. Home healthcare organizations, including home health agencies, hospice providers, infusion providers, and medical equipment companies, can take a fresh and comprehensive look at their emergency management plan.
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