@hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw...

46

Transcript of @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw...

Page 1: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

`�@| @hi |�i igiU|t Lu 4L?i|@h) TL*�U) L? L�|T�|q

+it�*|t uhL4 @? @}?Lt|�U �_i?|��U@|�L? ThLUi_�hi��

O@h@*_ N�*�}

�i?|,+c A�*M�h} N?��iht�|)

@?_ �,�+

�+,wW�W��+v

����,�A5 `,w���,

6�ht| _h@u|G a@?� �ec �bb.

A��t �iht�L?G a@?�@h) ec 2fff

!i) �Lh_tG �iU|Lh @�|Lhi}hitt�L?c 4L?i|@h) TL*�U) t�LU!tc

�_i?|��U@|�L?c 4L?i|@h) ?i�|h@*�|)a,w UL_itG ,D2c �D�

�L dp yhu| judwhixo wr wkh h{fhoohqw frpphqwv L uhfhlyhg iurp wzr dqrq|prxv uhihuhhv dv zhoo dv

wkh hglwru1 L dp dovr yhu| judwhixo wr Ehq Ehuqdqnh/ Idelr Fdqryd/ Iudqflv Nxpdk/ Hulf Ohhshu/

Pduwlq Ohwwdx/ Loldq Plkry/ Dqguhz Prxqwirug/ Oxfuh}ld Uhlfkolq dqg Fkulv Vlpv dv zhoo dv vhplqdu

dxglhqfhv dw wkh QEHU vxpphu lqvwlwxwh/ dw d FHSU phhwlqj lq Pdgulg/ dw wkh Dxvvfkx� i�xu�Rnrqrphwulh dqg dw Urfkhvwhu/ XFOD/ Iudqnixuw/ FRUH/ Ghxwvfkh Exqghvedqn/ LJLHU/ Hxurshdq

Xqlyhuvlw| Lqvwlwxwh/ HFDUH/ OVH/ Elhohihog/ P�xqfkhq/ F|suxv/ Vwdqirug/ Wrn|r Xqlyhuvlw| dqg

wkh Lqwhuqdwlrqdo Xqlyhuvlw| ri Mdsdq iru khosixo glvfxvvlrqv dqg frpphqwv1 L dp judwhixo wr Loldq

Plkry iru surylglqj ph zlwk wkh Ehuqdqnh0Plkry gdwd vhw1 Wkh dgguhvv ri wkh dxwkru lv FhqwHU/

Wloexuj Xqlyhuvlw|/ Srvwexv <3486/ 8333 OH Wloexuj/ Wkh Qhwkhuodqgv/ h0pdlo= xkoljCnxe1qo1 Id{=

.64046079963991 Skrqh= .64046079964371 Krph sdjh= kwws=22fhqwhu1nxe1qo2vwd�2xkolj

Page 2: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

Devwudfw

Wklv sdshu sursrvhv wr hvwlpdwh wkh h�hfwv ri prqhwdu| srolf| vkrfnv e|

d qhz _djqrvwlf% phwkrg/ lpsrvlqj vljq uhvwulfwlrqv rq wkh lpsxovh uhvsrqvhv

ri sulfhv/ qrqeruurzhg uhvhuyhv dqg wkh ihghudo ixqgv udwh lq uhvsrqvh wr d

prqhwdu| srolf| vkrfn1 Qr uhvwulfwlrqv duh lpsrvhg rq wkh uhvsrqvh ri uhdo

JGS wr dqvzhu wkh nh| txhvwlrq lq wkh wlwoh1 L �qg wkdw _frqwudfwlrqdu|%

prqhwdu| srolf| vkrfnv kdyh dq dpeljxrxv h�hfw rq uhdo JGS1 Rwkhuzlvh/ wkh

uhvxowv irxqg lq wkh hpslulfdo YDU olwhudwxuh vr idu duh odujho| frq�uphg1 Wkh

uhvxowv= hyhq wkrxjk sulfhv pryh rqo| judgxdoo| lq uhvsrqvh wr d prqhwdu|

srolf| vkrfn/ wkhvh vkrfnv pd| zhoo eh forvh wr qhxwudo1

Page 3: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

� W?|hL_�U|�L?

`�@| @hi |�i igiU|t Lu 4L?i|@h) TL*�U) L? L�|T�|q A��t !i) ^�it|�L? �@t Mii?

|�i uLU�t Lu @ t�Mt|@?|�@* ML_) Lu |�i *�|ih@|�hi� �?_ |�i @?t�ih tii4t i@t)� A�i

RVL*U!ih hiUitt�L?t� @| |�i Mi}�??�?} Lu |�i Hf<t �@�i t�L�? ��t| �L� _iiT @ hiUitt�L?

@ t�__i? |�}�|i?�?} Lu 4L?i|@h) TL*�U) U@? ThL_�Ui� �*|ih?@|��i*)c *LL! @| �}�hi �c

���U� �� |@TLtit 4L�i4i?|t �? |�i 6i_ih@* 6�?_t +@|i uhL4 �bSD |L �bbS ��|�

}hL�|� h@|it �? hi@* B#�c ��TTi_ �Tt�_i�_L�? uLh i@t�ih UL4T@h�tL?� W? T@h|�U�*@h

uLh |�i �ht| �@*u Lu |�@| t@4T*ic �| �t t|h�!�?}c �L� h�tit �? |�i 6i_ih@* 6�?_t +@|i @hi

uL**L�i_ M) u@**t �? L�|T�| E��t�M*i @t h�tit �? |�i _L||i_ *�?ic _�i |L |�i �Tt�_i�_L�?

��TT�?}�� A��t �tt�i �t U*Lti_�

�h �t �|q ,)iM@** iUL?L4i|h�Ut t�U� @t �}�hi � Lh U@ti t|�_�it *�!i |�i VL*U!ih

hiUitt�L?t U@? Mi _iUiT|��iG 4@?) |��?}t @hi }L�?} L? t�4�*|@?iL�t*) �? |�i iUL?�

L4)c @?_ L?i 4@) �@?| |L Mi U@hiu�* |L UL?t�_ih ��t| @ t�?}*i U@�ti�@?_�igiU| t|Lh)�

Wu |�i @?t�ih hi@**) �t tL LM��L�tc �| t�L�*_ i4ih}i i^�@**) U*i@h*) uhL4 @? @?@*)�

t�t Lu 4�*|�T*i |�4i tih�itc ���U� @**L�t uLh @__�|�L?@* U�@??i*t Lu �?|ih@U|�L? @?_

L|�ih i T*@?@|�L?tc @| *i@t| �? Th�?U�T*i� A��tc 4@?) hiti@hU�iht �@�i uL**L�i_ |�i

*i@_ Lu 5�4t E�b.2c�bHfc�bHS� @?_ ThLUii_i_ |L @?@*)3i |�i !i) ^�it|�L? �? |�i |�|*i

��|� |�i @�_ Lu �iU|Lh @�|Lhi}hitt�L?t� +@T�_ ThL}hitt �@t Mii? 4@_i �? |�i *@t|

|i? )i@ht� �ih?@?!i @?_ �*�?_ih E�bb2� t��u|i_ |�i uLU�t L? |�i ui_ih@* u�?_t h@|i�

A�i �Th�Ui T�33*i<c h@�ti_ M) 5�4t E�bb2�c @?_ L|�ih @?L4@*�it *i_ |L |�i �?U*�t�L?t

Lu i�}� ?L?MLhhL�i_ hitih�itc |L|@* hitih�it @t �i** @t @ UL44L_�|) Th�Ui �?_i �?

V�+ t|�_�itc tii i�}� ,�U�i?M@�4 E�bb2�c 5|hL?}�? E�bb2�c ��h�t|�@?L @?_ ,�U�i?�

M@�4 E�bb2@cM�c wiiTih @?_ BLh_L? E�bb2�c BLh_L? @?_ wiiTih E�bbe�c ��h�t|�@?Lc

,�U�i?M@�4 @?_ ,�@?t E�bbec �bbS@�� +iUi?|*)c �ih?@?!i @?_ ���L� E�bbS@cM� �@�i

hiUL?U�*i_ @ ?�4Mih Lu |�iti @TThL@U�it �? @ �?�u)�?} uh@4i�Lh!c @?_ wiiTihc 5�4t

@?_ ~�@ E�bbS� �@�i t�44@h�3i_ |�i U�hhi?| t|@|i Lu |�i *�|ih@|�hic ���*i @__�?}

?i� _�hiU|�L?t L? |�i�h L�?� �__�|�L?@* i Ui**i?| t�h�i)t @hi �? �@?L�@ E�bbD� @?_

��h�t|�@?Lc ,�U�i?M@�4 @?_ ,�@?t E�bb.��

A�ihi tii4t |L Mi @ }hL��?} @}hii4i?|c |�@| |��t *�|ih@|�hi �@t hi@U�i_ @ �i@*|�)

t|@|ic @?_ �@t ThL��_i_ @ *�t| Lu Ru@U|t�c ���U� ?L� |�iLh�t|t L�}�| |L i T*@�?c tii i�}�

��h�t|�@?Lc ,�U�i?M@�4 @?_ ,�@?t E�bbSMc�bbSUc�bb.� Lh wiiTih @?_ 5�4t E�bbe�� �

?L|i Lu U@�|�L? �t @TThLTh�@|i ?L?i|�i*itt� A�ihi tii4t |L Mi @ _i}hii Lu U�hU�*@h�|)

�? |�i �@) |�i *�|ih@|�hi U�hhi?|*) _h@�t �|t UL?U*�t�L?tc @t �LU�h@?i E�bbe� @*hi@_)

U*i@h*) TL�?|i_ L�|� BhLtt*) L�iht�4T*��i_c |�i U�hhi?| V�+ *�|ih@|�hi ThLUii_t @t

uL**L�t� �UULh_�?} |L 6h�i_4@? E�bSH� @t �i** @t 4@?) �?_ih}h@_�@|i |i |MLL!t �?

4@UhLiUL?L4�Utc @ 4L?i|@h) UL?|h@U|�L? t�L�*_ h@�ti |�i ui_ih@* u�?_t h@|ic *L�ih

Th�Uit @?_ hi_�Ui hi@* L�|T�|� Wu @ T@h|�U�*@h �_i?|��U@|�L? tU�i4i _Lit ?L| @U�

UL4T*�t� |��tc |�i? |�i LMtih�i_ hitTL?tit @hi _�MMi_ @ RT�33*i�c @?_ |�i ti@hU�

Page 4: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

UL?|�?�it� Wu @? �_i?|��U@|�L? tU�i4i t�UUii_t �? 4@|U��?} �?_ih}h@_�@|i |i |MLL!

�?|��|�L?c �| �t U@**i_ @ t�UUitt� ,giU|��i*)c |��t �t @ tTiU��U@|�L? ti@hU�c tii wi@4ih

E�b.H�� �? @h}�4i?| �t |�i? 4@_ic |�@| |�i �_i?|��U@|�L? tU�i4i *LL!t hi@tL?@M*i uLh

tL4i L|�ih hi@tL?� 6�?@**)c |�i it|�4@|i_ �4T�*ti hitTL?titc ���U� �@TTi? |L @UULh_

��|� �?_ih}h@_�@|i |i |MLL! �?|��|�L?c @hi hiTLh|i_ @t Ru@U|t� @ML�| |�i 4L?i|@h)

|h@?t4�tt�L? 4iU�@?�t4c ���U� @ }LL_ |�iLh) L�}�| |L U@T|�hi� A�ihi �t @ _@?}ih

|�@| |��t *�|ih@|�hi ��t| }i|t L�| ��@| �@t Mii? t|�U! �?c @*Mi�| @ M�| 4Lhi TL*�t�i_

@?_ ��|� ?�4Miht @||@U�i_� B@*� E�bb2� |�ihiuLhi _�hiU|*) @t!tc ��i|�ih |�i RW5�w�

4L_i* �|dto |�i TLt|�@h N�5� _@|@� h@|�ih |�@? �?_�hiU|*) Thit�4�?} |�@| |��t �t |�i

L?*) 4L_i* �Lh|� �||�?}�

wiiTihc 5�4t @?_ ~�@ E�bbS� _iui?_ |��t tL4i��@| U�hU�*@h hi@tL?�?} M) @h}��?}

uLh |�i hi@tL?@M*i?itt Lu �4T�*ti hitTL?tit @t @? R�?uLh4@*� �_i?|��U@|�L? Uh�|ih�L?�

w�!i��tic �LU�h@?i E�bbe� @?_ +L|i4Mih} E�bbe� @h}�i |�@| iUL?L4�U |�iLh) �t Uh��

U�@**) �4TLh|@?| uLh �_i?|�u)�?} 4L?i|@h) TL*�U) t�LU!tG @ V�+ @?@*)t�t Lu |�iti

t�LU!t L?*) �@t @ U�@?Ui |L Mi UL?��?U�?}c �u |�i hit�*|t *LL! RT*@�t�M*i� |L Mi}�?

��|�� A��t T@Tih ThLTLtit |L T�t� |��t �_i@ @** |�i �@)c @?_ |L �_i?|�u) |�i igiU|t

Lu 4L?i|@h) TL*�U) t�LU!t ��@ _�hiU|*) �4TLt�?} t�}? hit|h�U|�L?t L? |�i �4T�*ti hi�

tTL?titc 4L|��@|i_ M) @ Th�Lh� iUL?L4�U |�iLh�3�?}� �Lhi tTiU��U@**)c W ��** @tt�4i

|�@| @ RUL?|h@U|�L?@h)� 4L?i|@h) TL*�U) t�LU! *i@_t |L ?L �?Uhi@ti �? Th�Uitc ?L �?�

Uhi@ti �? ?L?MLhhL�i_ hitih�itc @?_ ?L _iUhi@ti �? |�i ui_ih@* u�?_t h@|i uLh @ Uih|@�?

Tih�L_ *�!i t� 4L?|�tc t@)c uL**L��?} @ t�LU!� `��*i |�iLh�it ��|� _�gihi?| �4T*�U@�

|�L?t U@? u@�h*) i@t�*) Mi UL?t|h�U|i_c |�iti @tt�4T|�L?t 4@) i?�L) MhL@_ t�TTLh| @?_

�? @?) U@tic @hi �t�@**) |@U�|*) @tt�4i_ �? 4Lt| Lu |�i V�+ *�|ih@|�hiG 4) @�4 �t |L

Mh�?} |�i4 _�hiU|*) L�| �?|L |�i LTi? @?_ |L 4@!i |�i4 t�M�iU| |L _iM@|i� �h�U�@**)c

W �4TLti ?L hit|h�U|�L?t L? |�i hitTL?ti Lu hi@* B#�� A��tc |�i Ui?|h@* ^�it|�L? �?

|�i |�|*i �t *iu| @}?Lt|�U@**) LTi? M) _it�}? Lu |�i �_i?|��U@|�L? ThLUi_�hiG W ��** *i|

|�i _@|@ _iU�_i� W| �t uLh |��t hi@tL? |�@| W U@** |��t @? R@}?Lt|�U ThLUi_�hi��

A��t ��** ?L| Mi @ uhii *�?U�c ?Lh t�L�*_ L?i i TiU| �| |L Mi� `�i? �4TLt�?} |�i

t�}? hit|h�U|�L?tc L?i ?ii_t |L |@!i @ t|@?_ L? uLh �L� *L?} |�iti hit|h�U|�L?t L�}�|

|L �L*_ @u|ih @ t�LU!� 6�h|�ih4Lhic L?i ?ii_t |L |@!i @ t|@?_ L? ��i|�ih @ t|hL?}

hitTL?ti �? |�i LTTLt�|i _�hiU|�L? �t 4Lhi _it�h@M*i |�@? @ �i@! L?i� W ��** |h) L�| @

�@h�i|) Lu U�L�Uit @?_ *LL! @| |�i @?t�iht�

5iU|�L? 2 �?|hL_�Uit |�i 4i|�L_ ��|� 4Lt| Lu |�i |iU�?�U@*�|�it TLt|TL?i_ |L |�i

@TTi?_�Uit � @?_ �� 5iU|�L? � t�L�t tL4i hit�*|tc M@ti_ L? |�i _@|@ ti| ThL��_i_ M)

�ih?@?!i @?_ ���L� E�bbS@cM�� 5iU|�L? e _�tU�ttitc �L� |�i 4i|�L_ U@? Mi i |i?_i_�

6�?@**)c tiU|�L? D UL?U*�_it�

�) @TThL@U� �t @t)44i|h�U �? |�@| W @4 @}?Lt|�U @ML�| |�i hitTL?ti Lu L�|T�| M�|

?L| Lu tL4i L|�ih �@h�@M*it� A��t �t �?|i?|�L?@*G |�i hitTL?ti Lu L�|T�| �t |�i uLU�t

Lu |��t �?�it|�}@|�L?� �L?i|�i*itt �| �t �?|ihit|�?} |L @*tL hiTLh| �?_�?}t @ML�| |�i

2

Page 5: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

L|�ih �@h�@M*itc !iiT�?} �? 4�?_ |�@| |�i) @hi R|@�?|i_� M) @ Th�Lh� t�}? hit|h�U|�L?t�

W �?_ |�i uL**L��?}�

�� R�L?|h@U|�L?@h)� 4L?i|@h) TL*�U) t�LU!t �@�i @? @4M�}�L�t igiU| L? hi@*

B#�� `�|� 2%� ThLM@M�*�|)c @ |)T�U@* t�LU! ��** 4L�i hi@* B#� M) �T |L f�2TihUi?|c UL?t�t|i?| ��|� |�i UL?�i?|�L?@* ��i�c M�| @*tL UL?t�t|i?| ��|� i�}�

4L?i|@h) ?i�|h@*�|)� W?_ii_c |�i �t�@* *@Mi* RUL?|h@U|�L?@h)� 4@) |��t Mi 4�t�

*i@_�?}c �u L�|T�| �t 4L�i_ �T� �L?i|@h) TL*�U) t�LU!t @UUL�?| uLh ThLM@M*)

*itt |�@? |�i?|)��i TihUi?| Lu |�i !�t|iT @�i@_ Thi_�U|�L? ihhLh �@h�@?Ui Lu hi@*

L�|T�|c @?_ 4@) i@t�*) @UUL�?| uLh *itt |�@? |�hii TihUi?|�

2� A�i B#� Th�Ui _i�@|Lh u@**t L?*) t*L�*) uL**L��?} @ UL?|h@U|�L?@h) 4L?i|@h)

TL*�U) t�LU!� A�i UL44L_�|) Th�Ui �?_i u@**t 4Lhi ^��U!*)�

�� W @*tL �?_c |�@| 4L?i|@h) TL*�U) t�LU!t @UUL�?| uLh L?*) @ t4@** uh@U|�L? Lu |�i

uLhiU@t| ihhLh �@h�@?Ui �? |�i ui_ih@* u�?_t h@|ic i UiT| @| �Lh�3L?t t�Lh|ih |�@?

�@*u @ )i@hc @t �i** @t uLh Th�Uit�

`��*i |�iti LMtih�@|�L?t UL?�h4 tL4i Lu |�i hit�*|t uL�?_ �? |�i i4T�h�U@* V�+

*�|ih@|�hi tL u@hc |�ihi @hi @*tL tL4i TL|i?|�@**) �4TLh|@?| _�gihi?Uit �? T@h|�U�*@h

��|� hitTiU| |L 4) !i) ^�it|�L?G RUL?|h@U|�L?@h)� 4L?i|@h) TL*�U) t�LU!t _L ?L|

?iUitt@h�*) tii4 |L �@�i UL?|h@U|�L?@h) igiU|t L? hi@* B#�� ��h UL?U*�t�L? uhL4

|�iti hit�*|tG L?i t�L�*_ uii* *itt UL4uLh|@M*i ��|� |�i UL?�i?|�L?@* ��i� @?_ |�i

U�hhi?| UL?ti?t�t Lu |�i V�+ *�|ih@|�hi |�@? �@t Mii? |�i U@ti tL u@h�

A�i ?i� 4i|�L_ �?|hL_�Ui_ �ihi �t tL4i��@| hi*@|i_ |L �Lh! M) �*@?U�@h_ @?_

"�@� E�bHb�c w�TT� @?_ +i�U�*�? E�bbe@cM�c #�)ih E�bb.� Lh 6@�t| E�bbH�G |�iti

@�|�Lht @*tL �4TLti hit|h�U|�L?t L? |�i �4T�*ti hitTL?tit |L T@h|�U�*@h t�LU!t� W

_L ?L| �4TLti @ T@h|�U�*@h t�@Ti Lu |�i �4T�*ti hitTL?ti @t �? w�TT� @?_ +i�U�*�?

E�bbe@� Lh #�)ih E�bb.�� W?t|i@_c W @hi UL?|i?| ��|� hit|h�U|�L?t L? |�i t�}?c 4@!�?}

uLh t�Mt|@?|�@* _�gihi?Uit Mi|�ii? |�i�h @TThL@U� @?_ L�ht� A��t T@Tih t�@hit �|t

T��*LtLT�) ��|� |�i T@Tih M) 6@�t| E�bbH�c ��L @*tL L?*) �4TLtit t�}? hit|h�U|�L?t

|L hit|h�U| 4L?i|@h) TL*�U) t�LU!t� O�t uLU�t �t @ _�gihi?| L?iG 6@�t| i @4�?it

|�i uh@}�*�|) Lu |�i RUL?ti?t�t� UL?U*�t�L?c |�@| 4L?i|@h) t�LU!t @UUL�?| uLh L?*)

@ t4@** uh@U|�L? Lu B#� ��U|�@|�L?tc tii �LU�h@?i E�bbe�c ���*i |��t T@Tih @�4t

@| it|�4@|�?} |�@| hitTL?ti� 6�h|�ih4Lhic 6@�t| L?*) �4TLti_ t�}? hit|h�U|�L?t L?

�4T@U|� W? 4) _�tU�tt�L? �? N�*�} E�bbH� Lu ��t T@Tihc W �@�i t�L�? �L� ��t @TThL@U�

U@? Mi i |i?_i_c ��i? L?i ��t�it |L �4TLti |�i t�}? hit|h�U|�L?t uLh ti�ih@* Tih�L_t

uL**L��?} |�i t�LU!� A�i @TThL@U� �ihi �t @*tL �? |�i tT�h�| Lu �ih?@?!i @?_ ���L�

E�bbS@cM� �? |�@| W _L ?L| @�4 @| @ UL4T*i|i _iUL4TLt�|�L? Lu |�i L?i�t|iT @�i@_

Thi_�U|�L? ihhLh �?|L @** �|t UL4TL?i?|t _�i |L �?_ih*)�?} t|h�U|�h@* t�LU!tc M�| h@|�ih

Page 6: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

UL?Ui?|h@|i L? �_i?|�u)�?} L?*) L?i t�U� t�LU!c ?@4i*) |�i t�LU! |L 4L?i|@h) TL*�U)�

OL�i�ihc W @U��i�i |��t tL*i*) M) hit|h�U|�?} |�i t�}? Lu |�i �4T�*ti hitTL?tit _�hiU|*)�

2 A�i �i|�L_

A�ihi �t ?L| 4�U� _�t@}hii4i?| @ML�| �L� |L it|�4@|i V�+t� � V�+ �t }��i? M)

t| ' �E��t|3� n�E2�t|32 n � � �n�E,�t|3, n �|c | ' �c � � � c A E��

��ihi t| �t @ 6�� �iU|Lh Lu _@|@ @| _@|i | ' �� ,c � � � c A c �E�� @hi ULi�U�i?| 4@|h�Uit

Lu t�3i 6�6 @?_ �| �t |�i L?i�t|iT @�i@_ Thi_�U|�L? ihhLh ��|� �@h�@?Ui�UL�@h�@?Ui

4@|h� P� �? �?|ihUiT| @?_ Tih�@Tt @ |�4i |hi?_ �t tL4i|�4it @__i_ |L E���

A�i _�t@}hii4i?| t|@h|t ��i? _�tU�tt�?}c �L� |L _iUL4TLti |�i Thi_�U|�L? ih�

hLh �| �?|L iUL?L4�U@**) 4i@?�?}u�* Lh Ru�?_@4i?|@*� �??L�@|�L?t� A��t �t ?iUitt@h)

MiU@�ti L?i �t |)T�U@**) �?|ihit|i_ �? i @4�?�?} |�i �4T�*ti hitTL?tit |L t�U� u�?_@�

4i?|@* �??L�@|�L?tc }��i? |�i it|�4@|i_ V�+� W? T@h|�U�*@hc 4�U� Lu |�i *�|ih@|�hi �t

�?|ihit|i_ �? i @4�?�?} |�i �4T�*ti hitTL?tit |L @ 4L?i|@h) TL*�U) �??L�@|�L?�

5�TTLti |�@| |�ihi @hi @ |L|@* Lu 6 u�?_@4i?|@* �??L�@|�L?tc ���U� @hi 4�|�@**)

�?_iTi?_i?| @?_ ?Lh4@*�3i_ |L Mi Lu �@h�@?Ui �G |�i) U@? |�ihiuLhi Mi �h�||i? @t @

�iU|Lh � Lu t�3i 6�� ��|� .d���o ' U6� W?_iTi?_i?Ui Lu |�i u�?_@4i?|@* �??L�@|�L?t

�t @? @TTi@*�?} @tt�4T|�L? @_LT|i_ �? 4�U� Lu |�i V�+ *�|ih@|�hiG �uc �?t|i@_c |�i

u�?_@4i?|@* �??L�@|�L?t �ihi ULhhi*@|i_c |�i? |��t �L�*_ t�}}it| tL4i hi4@�?�?}c

�?i T*@�?i_ U@�t@* hi*@|�L?t��T Mi|�ii? |�i4� i |�ihiuLhi @*tL @_LT| |�i �?_iTi?�

_i?Ui @tt�4T|�L? �ihi� `�@| �t ?ii_i_ �t |L �?_ @ 4@|h� � t�U� |�@| �| ' ��|�

A�i ��|� UL*�4? Lu � ELh �|t ?i}@|��i� |�i? hiThiti?|t |�i �44i_�@|i �4T@U| L? @**

�@h�@M*it Lu |�i ��|� u�?_@4i?|@* �??L�@|�L?c L?i t|@?_@h_ ihhLh �? t�3i� A�i L?*)

hit|h�U|�L? L? � |��t u@h i4ih}it uhL4 |�i UL�@h�@?Ui t|h�U|�hiG

P ' .d�|��

|o ' �.d�|��

|o�� ' ��� E2�

5�4T*i @UUL�?|�?} t�L�t |�@| |�ihi @hi 6E6���*2 R_i}hiit Lu uhii_L4� �? tTiU�u)�?}

�c @?_ �i?Uic u�h|�ih hit|h�U|�L?t @hi ?ii_i_ |L @U��i�i �_i?|��U@|�L?� Nt�@**)c |�iti

hit|h�U|�L?t UL4i uhL4 L?i Lu |�hii ThLUi_�hitG uhL4 U�LLt�?} � |L Mi @ ��L*it!)�

u@U|Lh Lu P @?_ �4T*)�?} @ hiU�ht��i Lh_ih�?} Lu |�i �@h�@M*it @t �? 5�4t E�bHS�c uhL4

tL4i Rt|h�U|�h@*� hi*@|�L?t��Tt Mi|�ii? |�i u�?_@4i?|@* �??L�@|�L?t �|c�c � ' �c � � � c6

@?_ |�i L?i�t|iT @�i@_ Thi_�U|�L? ihhLht �|c�c � ' �c � � � c6 @t �? �ih?@?!i E�bHS�c

�*@?U�@h_ @?_ @|tL? E�bHS� Lh 5�4t E�bHS�c Lh uhL4 tiT@h@|�?} |h@?t�|Lh) uhL4

Tih4@?i?| UL4TL?i?|t @t �? �*@?U�@h_ @?_ "�@� E�bHb��

Oihic W ThLTLti |L ThLUii_ _�gihi?|*)� 6�ht| ?L|ic |�@| W @4 tL*i*) �?|ihit|i_ �?

|�i hitTL?ti |L @ 4L?i|@h) TL*�U) t�LU!G |�ihi �t |�ihiuLhi @ Th�Lh� ?L hi@tL? |L @*tL

e

Page 7: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

�_i?|�u) |�i RL|�ih 6� �� u�?_@4i?|@* �??L�@|�L?t� �ih?@?!i @?_ ���L� E�bbS@cM�

t�4�*@h*) hiUL}?�3i |��tc @?_ �ti @ M*LU!�hiU�ht��i Lh_ih�?}c |L UL?Ui?|h@|i |�i �_i?�

|��U@|�L? i ihU�ti L? L?*) @ *�4�|i_ ti| Lu �@h�@M*it ���U� �?|ih@U| ��|� |�i TL*�U)

t�LU!�

W ThLTLti |L }L @** |�i �@) M) L?*) UL?Ui?|h@|�?} L? �?_�?} |�i �??L�@|�L? ULhhi�

tTL?_�?} |L |�i 4L?i|@h) TL*�U) t�LU!� A��t @4L�?|t |L �_i?|�u)�?} @ t�?}*i UL*�4?

@ 5 W+6 Lu |�i 4@|h� � �? i^�@|�L? E2�� W| �t �tiu�* |L t|@|i @ uLh4@* _i�?�|�L?G

#i�?�|�L? � A�i �iU|Lh @ 5 W+6 �t U@**i_ @? �4T�*ti �iU|Lhc �g |�ihi �t tL4i

4@|h� �c tL |�@| ��� ' P @?_ tL |�@| @ �t @ UL*�4? Lu ��

�hLTLt�|�L? � �? @TTi?_� � t�L�tc |�@| @?) �4T�*ti �iU|Lh @ U@? Mi U�@h@U|ih�3i_

@t uL**L�t� wi| �� ��� ' P Mi |�i ��L*it!)�_iUL4TLt�|�L? Lu P� A�i?c @ �t @? �4T�*ti

�iU|Lh �u @?_ L?*) �u |�ihi �t @? 6�_�4i?t�L?@* �iU|Lh k Lu �?�| *i?}|� tL |�@|

@ ' ��k E��

B��i? @? �4T�*ti �iU|Lh @c �| �t i@t) |L U@*U�*@|i |�i @TThLTh�@|i �4T�*ti hitTL?ti

@t uL**L�t� wi| o�E&� 5 W+6 |�i �iU|Lh hitTL?ti @| �Lh�3L? & |L |�i ��|� t�LU! �? @

��L*it!)�_iUL4TLt�|�L? Lu P� A�i �4T�*ti hitTL?ti o@E&� uLh @ �t |�i? t�4T*) }��i?

M)

o@E&� '6[�'�

k�o�E&� Ee�

6�h|�ihc �?_ @ �iU|Lh �K 9' f ��|�

EP� @@���K ' f

?Lh4@*�3i_ tL |�@| K�@ ' �� A�i?c |�i hi@* ?�4Mih

�E@�| ' K��| ED�

�t |�i tU@*i Lu |�i t�LU! @| _@|i | �? |�i _�hiU|�L? Lu |�i �4T�*ti �iU|Lh @c @?_ �E@�| @

�t |�i T@h| Lu �| ���U� �t @||h�M�|@M*i |L |�@| �4T�*ti �iU|Lh� ,tti?|�@**)c K �t |�i

@TThLTh�@|i hL� Lu �3�� `�|� |�iti |LL*tc L?i U@? TihuLh4 �@h�@?Ui _iUL4TLt�|�L?t

Lh UL�?|ihu@U|�@* i Tih�4i?|t�

AL �_i?|�u) |�i �4T�*ti �iU|Lh ULhhitTL?_�?} |L 4L?i|@h) TL*�U) t�LU!tc W �4�

TLtic |�@| @ UL?|h@U|�L?@h) TL*�U) t�LU! _Lit ?L| *i@_ |L @? �?Uhi@ti �? Th�Uit Lh

�? ?L?MLhhL�i_ hitih�it @?_ _Lit ?L| *i@_ |L @ _iUhi@ti �? |�i ui_ih@* u�?_t h@|i�

A�iti @tt�4T|�L?t tii4 |L Mi |�i *i@t| UL?|hL�iht�@* �4T*�U@|�L?t Lu @ UL?|h@U|�L?@h)

4L?i|@h) TL*�U) t�LU!� 6�h|�ih4Lhi @?_ Uh�U�@**)c |�iti tii4 |L Mi _�t|�?}��t��?}

U�@h@U|ih�t|�Ut Lu 4L?i|@h) TL*�U) t�LU!t UL4T@hi_ |L L|�ih t�LU!t ThL4�?i?|*) ThL�

TLti_ �? |�i *�|ih@|�hi� 6Lh i @4T*ic 4L?i) _i4@?_ t�LU!t @hi 4i@?| |L Mi h�*i_ L�|

D

Page 8: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

M) |�i hi^��hi4i?| |�@| ?L?MLhhL�i_ hitih�it _L ?L| h�ti� �M��L�t*)c |��t 4i|�L_

Lu �_i?|��U@|�L? �@t �|t *�4�|tG uLh i @4T*ic 4L?i) _i4@?_ t�LU!t U@??L| Mi h�*i_

L�|c �u L?i |@!it |�i TL�?| Lu ��i� |�@| |�i 6i_ih@* +itih�i ��** ?L| @| *i@t| T@h�

|�@**) @UUL4L_@|i �?Uhi@tit �? 4L?i) _i4@?_ |�hL�}� @? �?Uhi@ti �? ?L?MLhhL�i_

hitih�it� 6�h|�ih4Lhic UL4M�?@|�L?t Lu L|�ih t�LU!t 4@) *LL! @ *L| *�!i 4L?i|@h)

TL*�U) t�LU!t� ��| �? |�@| U@tic |�i) ��** Mi �@h_ |L _�t|�?}��t� uhL4 4L?i|@h) TL*�U)

t�LU!t hi}@h_*itt Lu |�i 4i|�L_ uLh �_i?|�u)�?} |�i4�

��LLti tL4i �Lh�3L?g � f� B��i? tL4i V�+ ULi�U�i?| 4@|h�Uit� ' d� �

�c � � � c��

, o

tL4i ihhLh �@h�@?Ui�UL�@h�@?Ui 4@|h� Pc @?_ tL4i �Lh�L? gc *i| DE�cPcg� Mi |�i

ti| Lu @** �4T�*ti �iU|Lht @c tL |�@| |�iti t�}? hit|h�U|�L?t @hi t@|�t�i_ uLh |�i �4T�*ti

hitTL?tit Lu Th�Uitc ?L?MLhhL�i_ hitih�it @?_ |�i ui_ih@* u�?_t h@|i @| @** �Lh�3L?t

& ' fc � � � cg� �iU@�ti �| �t LM|@�?i_ uhL4 �?i^�@*�|) UL?t|h@�?|tc |�i ti| DE�cPcg�

��** |)T�U@**) i�|�ih UL?|@�? 4@?) i*i4i?|t Lh Mi i4T|)� A�ihiuLhic L?i |)T�U@**)

U@??L| LM|@�? i @U| �_i?|��U@|�L? @| |��t TL�?|c �? UL?|h@t| |L 4Lhi UL44L?*) �ti_

i @U| �_i?|��U@|�L? ThLUi_�hit� 6Lh |�@| hi@tL?c �i ��** i�i?|�@**) �4TLti @ Th�Lh L?

DE�cPcg� Lh T�U! |�i RMit|� �4T�*ti �iU|Lh @UULh_�?} |L tL4i @__�|�L?@* Uh�|ih�L?

u�?U|�L?�

�t @ �ht| t|iTc �L�i�ihc �| �t @*hi@_) �?uLh4@|��i |L t�4T*) �ti |�i �w5 it|�4@|i

Lu |�i V�+c � ' � @?_ P ' Pc � g Lh |h) L�| @ ui� U�L�Uit uLh gc @?_ *LL! @| |�i

i?|�hi h@?}i Lu �4T�*ti hitTL?titc @t @ 5 DE �c Pcg� �t �@h�i_c ThL��_i_ DE �c Pcg� �t

?L| i4T|)� �?i U@? |��?! Lu |��t i ihU�ti @t @? i |hi4i ML�?_t @?@*)t�t �? |�i tT�h�|

Lu wi@4ih E�bH��� A��t U@? @?_ ��** Mi @UUL4T*�t�i_ �? @ t|h@�}�|uLh�@h_ 4@??ih

@?_ Mh�|i uLhUi M) |h)�?} L�| 4@?) �4T�*ti �iU|Lhtc U@*U�*@|�?} |�i�h �4T*�i_ �4T�*ti

hitTL?ti u�?U|�L?tc @?_ U�iU!�?}c ��i|�ih Lh ?L| |�i t�}? hit|h�U|�L?t @hi t@|�t�i_�

��4ih�U@**)c �| �t ��ti |L U@*U�*@|i |�i ��L*it!)�hitTL?tit o� L?Uic @?_ |�i? U@*U�*@|i

|�i hitTL?ti uLh tL4i }��i? �4T�*ti �iU|Lh M) U@*U�*@|�?} @ �i�}�|i_ t�4 Lu |�i o� @t

�? i^�@|�L? Ee�� W ��** }i?ih@|i |�iti �4T�*ti �iU|Lht h@?_L4*)c MiU@�ti |��t �t i@t�ih

|L �4T*i4i?| |�@? L|�ih @�@�*@M*i @*|ih?@|��itG _h@� �@ uhL4 @ t|@?_@h_ ?Lh4@* �?

W+6c ��T t�}?t Lu i?|h�it ���U� ��L*@|i t�}? hit|h�U|�L?tc 4�*|�T*) ��|� ��3� |L U@*U�*@|i

|�i ULhhitTL?_�?} �k @?_ _���_i M) �|t *i?}|� |L LM|@�? @ U@?_�_@|i _h@� uLh @� ��iU!

��i|�ih @ 5 DE �c Pcg� M) U�iU!�?} |�i t�}? hit|h�U|�L?t L? |�i �4T�*ti hitTL?tit

uLh @** hi*i�@?| �Lh�3L?t & ' fc � � � cg� Bi?ih@|ic t@)c �ffff U@?_�_@|i _h@�t uLh @c

@?_ T*L| |�i 4@ �4�4 @?_ |�i 4�?�4�4 Lu |�i �4T�*ti hitTL?tit uLh |�Lti @c ���U�

t@|�tu) |�iti hit|h�U|�L?tc @ 5 DE �c Pcg�� A��t �t @ UL?t�t|i?|c @*|�L�}� t*�}�|*)

M�@ti_ it|�4@|i Lu |�i ML�?_t� +it�*|t U@? Mi tii? �? �}�hi 2G �i ��** _iuih |�i

_itUh�T|�L? @?_ _�tU�tt�L? Lu |�iti @?_ @** L|�ih hit�*|t |L tiU|�L? ��

W? Th�?U�T*ic |�i ti| DE�cPcg� U@? Mi U�@h@U|ih�3i_ @?@*)|�U@**)� � t�}? hit|h�U�

|�L? uLh tL4i �@h�@M*i � @?_ @| tL4i �Lh�3L? & @4L�?|t |L @ *�?i@h �?i^�@*�|) L? k ��@

i^�@|�L? Ee�c |�ihiM) UL?t|h@�?�?} k |L tL4i �@*u tT@Ui Lu W+6� A�i ti| DE�cPcg�

S

Page 9: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

�t |�i �?|ihtiU|�L? Lu @** |�iti �@*u tT@Uit� W| �t |�ihiuLhi UL?�i c ���U� �4T*�it |�@|

|�i h@?}i uLh �@h�@M*i � @| �Lh�3L? & Lu �4T�*ti hitTL?tit t@|�tu)�?} |�i t�}? hit|h�U�

|�L?t @hi �?|ih�@*t� A�i ti| DE�cPcg� U@? Mi U�@h@U|ih�3i_ M) �|t i |hi4i TL�?|tc

���U� �? |�h? U@? Mi U@*U�*@|i_ �t�?} *�?i@h ThL}h@44�?} |iU�?�^�it� W? Th@U|�Uic

|�i ?�4Mih Lu �?i^�@*�|) UL?t|h@�?|t �4TLti_ U@? Mi UL?t�_ih@M*iG �i?Uic �4TLt�?}

|�i �?i^�@*�|) hit|h�U|�L?t @| �Lh�3L? & ' f L?*) ELh �4TLt�?} ?L?i�c @?_ hi*)�?} L?

h@?_L4 R|h�@*�@?_�ihhLh� uLh |�i hit| �t t�4T*ih |L �4T*i4i?|c @?_ �t _L?i �ihi�

W ��t� |L 4L�i Mi)L?_ it|�4@|�L? |L �?uihi?Ui �? Lh_ih |L _i@* ��|� |�i �tt�i

Lu ?L?�i @U| �_i?|��U@|�L? Lu |�i �4T�*ti �iU|Lh @ @?_ |L _i@* ��|� |�i t@4T*�?}

�?Uih|@�?|) �? |�i �w5 it|�4@|i Lu � @?_ P� W ThLTLti |�L hi*@|i_c M�| _�gihi?|

@TThL@U�itc M@ti_ L? @ �@)it�@? 4i|�L_� W? |�i �ht| @TThL@U�c @** �4T�*ti �iU|Lht

t@|�tu)�?} |�i �4T�*ti hitTL?ti t�}? hit|h�U|�L?t @hi UL?t�_ihi_ Ri^�@**) *�!i*)�� W?

|�i tiUL?_ @TThL@U�c W �ti @? @__�|�L?@* Uh�|ih�L? |L ti*iU| |�i RMit|� Lu @** �4T�*ti

�iU|Lht� A�i |iU�?�U@* _i|@�*t @hi �? @TTi?_� �G �ihic �i Lgih @ 4Lhi �?|��|��i

_itUh�T|�L? @?_ _�tU�tt�L?�

`��*i �| �t U*i@h |�@| ML|� @TThL@U�it U@? _i@* ��|� |�i ThLM*i4 Lu �?_ih�_i?|��

�U@|�L?c ��i� @ ti| DE�cPcg� ��|� 4Lhi |�@? L?i i?|h)c �| �t �?t|h�U|��i |L UL?t�_ih

|�i U@ti Lu L�ih�_i?|��U@|�L?c ��i� �u |�i ti| DE�cPcg� �t i4T|)� W? |�@| U@tic |�i

�ht| @TThL@U� ��** UL?t�_ih |�i T@h|�U�*@h � @?_ P �4TLt�M*ic ��i� |�i TLt|ih�Lh ��**

Mi UL?t|h@�?i_ |L Mi 3ihL |�ihi� A��t �t ?L| @ ThLM*i4 �? Th�?U�T*ic @t *L?} @t |�ihi

@hi tL4i � @?_ Pc uLh ���U� DE�cPcg� �t ?L?i4T|)G |�i �ht| 4i|�L_ ��** L?*)

Tih4�| |�iti uLh _h@��?} �?uihi?Uit� �) UL?|h@t|c |�i tiUL?_ @TThL@U� ��** @*�@)t

�?_ @ RMit|� �4T�*ti �iU|Lh @ uLh @?) }��i? E�cP�� Wu |�i ti| DE�cPcg� �t i4T|)c

|�i tiUL?_ @TThL@U� ��** �?_ @? �4T�*ti �iU|Lh @ ���U� UL4it @t U*Lti @t TLtt�M*i |L

t@|�tu)�?} |�i t�}? hit|h�U|�L?t M) 4�?�4�3�?} @ Ti?@*|) uLh t�}? hit|h�U|�L? ��L*@|�L?t�

A�i T�hi�t�}?�hit|h�U|�L? @TThL@U�� ��LLti @ �Lh�3L? g � f� A@!i @ �L�?| _h@�

uhL4 ML|� |�i TLt|ih�Lh uLh |�i V�+ T@h@4i|iht @t �i** @t @ �?�uLh4 _�t|h�M�|�L?

L�ih |�i E4����_�4i?t�L?@* tT�ihi Ek�c � � � c k63��cSk2� ' �� �L?t|h�U| |�i

�4T�*ti �iU|Lh @c tii i^�@|�L? E�� @?_ U@*U�*@|i |�i �4T�*ti hitTL?tit o&c� @|

�Lh�3L? & ' fc � � � cg uLh |�i �@h�@M*it �c hiThiti?|�?} |�i B#� _i�@|Lhc |�i

UL44L_�|) Th�Ui �?_i c ?L?MLhhL�i_ hitih�it @?_ |�i ui_ih@* u�?_t h@|i� Wu @**

|�iti �4T�*ti hitTL?tit t@|�tu) |�i t�}? hit|h�U|�L?tc !iiT |�i _h@�� �|�ih��ti

_�tU@h_ �|� +iTi@| t��U�i?|*) Lu|i?� �@*U�*@|i t|@|�t|�Utc M@ti_ L? |�i _h@�t

!iT|�

A�i Ti?@*|) u�?U|�L? @TThL@U�� ��LLti @ �Lh�3L? g � f� #i�?i |�i Ti?@*|)

u�?U|�L?

sE%� '

+% �u % � f

�ff � % �u % � fc ES�

.

Page 10: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

���U� Ti?@*�3it TLt�|��i hitTL?tit �? *�?i@h ThLTLh|�L? @?_ hi�@h_t ?i}@|��i

hitTL?tit �? *�?i@h ThLTLh|�L?c @*Mi�| @| @ t*LTi �ff |�4it t4@**ih |�@? |�i

t*LTi uLh Ti?@*|�it L? |�i TLt�|��i t�_i�

6Lh |�i |h�i V�+ ULi�U�i?|tc *i| o�c@E&�c & ' fc � � � cg Mi |�i �4T�*ti hitTL?ti

Lu �@h�@M*i � @?_ j� Mi |�i t|@?_@h_ _i��@|�L? Lu |�i �ht| _�gihi?Ui Lu |�i

tih�it uLh �@h�@M*i �� wi| � ' ��c �u � �t |�i �?_i Lu |�i 6i_ih@* 6�?_t +@|i

�? |�i _@|@ �iU|Lhc @?_ i*tic *i| � ' �� #i�?i |�i 4L?i|@h) TL*�U) �4T�*ti

�iU|Lh @t |�@| �4T�*ti �iU|Lh @c ���U� 4�?�4�3it |�i |L|@* Ti?@*|) [E@� uLh

Th�Uitc ?L?MLhhL�i_ hitih�it @?_ E@u|ih ��TT�?} t�}?t� |�i ui_ih@* u�?_t h@|i @|

�Lh�3L?t & ' fc � � � cgc

[E@� '[

�M

;AAAA?AAAA=

_JGS Gh�dwru%/

_Frpp1 Sulfh Lqgh{%/

_Qrqeruu1 Uhvhuyhv%

_Ihghudo Ixqgv Udwh%

<AAAA@AAAA>

g[&'f

s

# �o�c@E&�

j�

$

A�i hitU@*�?} M) j� �t ?iUitt@h) |L 4@!i |�i _i��@|�L?t @UhLtt _�gihi?| �4T�*ti

hitTL?tit UL4T@h@M*i |L i@U� L|�ih� �L|i |�@| |�i t�}? Lu |�i Ti?@*|) _�hiU|�L?

�t ��TTi_ uLh |�i 6i_ih@* 6�?_t +@|i� 5�?Ui |�i |h�i V�+ �t ?L| !?L�?c �?_ |�i

4L?i|@h) TL*�U) �4T�*ti �iU|Lh uLh i@U� _h@� uhL4 |�i TLt|ih�Lh� A��t hi^��hit

?�4ih�U@* 4�?�4�3@|�L?� kiiT @** _h@�t @?_ @UULh_�?}*) U@*U�*@|i_ 4L?i|@h)

TL*�U) �4T�*ti �iU|Lhtc @?_ U@*U�*@|i t|@|�t|�Ut M@ti_ L? |�iti�

A�i T�hi�t�}?�hit|h�U|�L? @TThL@U� �t RU*i@?ih� �? |�@| �| *�|ih@**) L?*) �4TLtit |�i

t�}? hit|h�U|�L?tG �| _Lit ?L| hi^��hi @ tL4i��@| @hM�|h@h) @__�|�L?@* Ti?@*|) u�?U|�L?�

�t @ _h@�M@U!c |�i T�hi�t�}?�hit|h�U|�L? �tc �? igiU|c t�4�*|@?iL�t*) @? it|�4@|�L? Lu

|�i hi_�Ui_�uLh4 V�+ @*L?}t�_i |�i �4T�*ti �iU|LhG V�+ T@h@4i|ih _h@�tc ���U� _L

?L| Tih4�| @?) �4T�*ti �iU|Lh |L t@|�tu) |�i �4TLti_ t�}? hit|h�U|�L?tc @hi _�tU@h_i_

@t �4TLtt�M*i� �) UL?|h@t|c |�i Ti?@*|)�u�?U|�L? @TThL@U� *i@�it |�i hi_�Ui_�uLh4

V�+ �?|L�U�i_�

A�i �@| Th�Lh L? |�i �?�| tT�ihi uLh k �t @TTi@*�?}c MiU@�ti �| �t @ h@|�ih ?@|�h@*

U�L�Ui� �__�|�L?@**)c �| �@t |�i |iU�?�U@**) @TTi@*�?} ui@|�hic |�@| |�i hit�*|t ��**

Mi �?_iTi?_i?| Lu |�i T@h|�U�*@h _iUL4TLt�|�L? P ' �� ��� U�Lti? uLh i^�@|�L? E��c

tii @TTi?_� ���� W? T@h|�U�*@hc hiLh_ih�?} @?_ U�LLt�?} @ _�gihi?| ��L*it!) _i�

UL4TLt�|�L? �? Lh_ih |L T@h@4i|ih�3i �4T�*ti �iU|Lht ��** ?L| )�i*_ _�gihi?| hit�*|t�

�L?i|�i*ittc |�i �@| Th�Lh �t tL4i��@| @hM�|h@h) @?_ ?L| ?iUitt@h�*) �?�?uLh4@|��i�

�ih|@�?*)c _�gihi?| Th�Lht @hi *�!i*) |L }i?ih@|i _�gihi?| hit�*|t� �?i U@? hi@_ 6@�t|t

E�bbH� UL?|h�M�|�L? @t ti@hU��?} uLh @ Th�Lh |�@| T*@Uit @** 4@tt L? |�i �4T�*ti �iU|Lht

H

Page 11: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

���U� i T*@�? |�i *@h}it| t�@hi Lu L�|T�| �@h�@|�L? E@t �i** @t t|�_)�?} |�i hLM�t|�

?itt ��|� hitTiU| |L |�i hi_�Ui_�uLh4 V�+ Th�Lh�G �i t�L�tc |�@| �T |L HS TihUi?|

Lu |�i �@h�@?Ui Lu L�|T�| 4@) Mi i T*@�?@M*i ��|� 4L?i|@h) TL*�U) t�LU!t |�@| �@)�

6@�t| E�bbH� �4TLtit u@h ui�ih t�}? hit|h�U|�L?t |�@? W _L �ihic tii ��t *�t| L? T@}i

2�fG �?_ii_c |�i UL?|h�M�|�L? Lu 4L?i|@h) TL*�U) t�LU!t |L |�i i T*@?@|�L? Lu L�|T�|

�@h�@?Ui _iUhi@tit UL?t�_ih@M*)c ��i? �4TLt�?} |�i t@4i t�}? hit|h�U|�L?t @t �ihic

@t �}�hi S Lu 4) _�tU�tt�L? �? N�*�} E�bbH� Lu ��t T@Tih t�L�t� A�i ti?t�|���|) Lu

|�i hit�*|t |L |�i U�L�Ui Lu |�i Th�Lh 4@) |�ihiuLhi ?L| Mi |LL *@h}i� W? t�4c 6@�t|t

@?@*)t�t ThL��_it @ �tiu�* UL4T*i4i?| @?_ hLM�t|?itt U�iU! |L |�i 4i|�L_ �ihi�

�t uLh |�i Ti?@*|) u�?U|�L? @TThL@U�G |�i u�?U|�L?@* uLh4 Lu |�i Ti?@*|) u�?U|�L?

�t tL4i��@| @hM�|h@h)c @?_ |�i hit�*|t 4�}�| Mi ti?t�|��i |L |�@| U�L�Ui� � ui� hi�

4@h!t U@? Mi 4@_i �? _iui?ti Lu ES�� 6�ht|c MiU@�ti W ��t� |L �4TLti t�}? hit|h�U|�L?tc

|�i Ti?@*|) u�?U|�L? t�L�*_ Mi @t)44i|h�Uc T�?�t��?} ��L*@|�L?t @ *L| 4Lhi t|hL?}*)

|�@? hi�@h_�?} *@h}i @?_ ULhhiU| hitTL?tit� 5iUL?_c @ UL?|�?�L�t Ti?@*|) u�?U|�L?

�t ?ii_i_ �? Lh_ih |L 4@!i t|@?_@h_ 4�?�4�3@|�L? ThLUi_�hit �Lh! ThLTih*)� 5L4i

4�?�4�3@|�L? ThLUi_�hit i�i? hi^��hi _�gihi?|�@M�*�|)G |��t U@? Mi @UUL4L_@|i_ u@�h*)

i@t�*) M) t4LL|��?} L�| |�i !�?! @| 3ihLc 4L_�u)�?} |�i u�?U|�L? �? @ t4@** ?i�}��

ML�h�LL_ @hL�?_ 3ihL� A��h_c W _L �@?| |L T�?�t� i�i? t4@** ��L*@|�L?t � ���U� �t

��) i�}� @ ^�@_h@|�U u�?U|�L?@* uLh4 �t @ �Lhti U�L�Ui |�@? @ *�?i@h L?i � M�| @| |�i

t@4i |�4ic W _L �@?| |L T�?�t� *@h}ih _i��@|�L?t 4Lhi |�@? t4@** L?it @?_ ?L| |hi@|

|�i4 @t i^�@**) M@_ � ���U� �t ��) i�}� @ t^�@hi hLL| u�?U|�L? uLh4 �t @ �Lhti U�L�Ui

|�@? @ *�?i@h L?i� � t^�@hi hLL| tTiU��U@|�L? �L�*_ @*tL }i?ih@|i �?�?�|i t*LTit @|

3ihLc ���U� 4@) Uhi@|i ?�4ih�U@* ThLM*i4t� �L?i|�i*ittc |L U�iU! |�i hLM�t|?itt Lu

4) hit�*|tc W �@�i @*tL i Tih�4i?|i_ ��|� @ Rt^�@hi�hLL|� tTiU��U@|�L?c hiT*@U�?} %

M)tm % m �? |�i U@*U�*@|�L? Lu |�i Ti?@*|) L? |�i h�}�| �@?_ t�_i Lu i^�@|�L? ES� @t

�i** @t ��|� @ Rt^�@hi� tTiU��U@|�L?c t�4�*@h*) hiT*@U�?} % ��|� %2�

A�i uLh|� @?_ Tih�@Tt 4Lt| UL?|hL�iht�@* @tTiU| Lu |�i Ti?@*|) u�?U|�L? �? ES� �t

|�i hi�@h_ }��i? |L hitTL?tit t@|�tu)�?} |�i hit|h�U|�L?� ��4ih�U@**)c |��t ui@|�hi �t

?ii_i_ �? Lh_ih |L E}i?ih�U@**)� i @U|*) �_i?|�u) @ RMit|� �4T�*ti �iU|Lhc �u DE�cPcg�

�t ?L| i4T|)� ��| _Lit |��t @*tL 4@!i iUL?L4�U ti?tiq W Mi*�i�i �| _Lit uLh |�i

uL**L��?} hi@tL?� �| @?) TL�?| �? |�4ic 4@?) t�LU!t ��| |�i iUL?L4)� W? �tL*@|�L?

Lh |L}i|�ihc tL4i ?L?4L?i|@h) t�LU!t 4@) |h�}}ih 4�?Lh hitTL?tit �? �?|ihit| h@|itc

Th�Uit @?_ ?L?MLhhL�i_ hitih�it ���U� t@|�tu) |�i t�}? hit|h�U|�L?t� �? |�i L|�ih

�@?_c �| �t T*@�t�M*i |�@| @ 4L?i|@h) TL*�U) t�LU! 4L�it @** |�iti �@h�@M*it ^��|i

t�Mt|@?|�@**)� B��i? @ U�L�Ui @4L?} 4@?) U@?_�_@|i 4L?i|@h) �4T�*ti �iU|Lht �?

DE�cPcg�c �| 4�}�| |�ihiuLhi Mi _it�h@M*i |L T�U! |�i L?ic ���U� }i?ih@|it @ 4Lhi

_iU�t��i hitTL?ti Lu |�i �@h�@M*itc uLh ���U� t�}? hit|h�U|�L?t @hi �4TLti_G |��t �t

��@| |�i Ti?@*|) u�?U|�L? @TThL@U� _Lit� A�i _h@�M@U! Lu |��t ui@|�hi t�L�*_ @*tL

Mi U*i@hG L?i �tc �? igiU|c �4TLt�?} tL4i��@| 4Lhi |�@? ��t| |�i t�}? hit|h�U|�L?t�

b

Page 12: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

`��*i W �@�i |hi@|i_ @** t�}? hit|h�U|�L?t t)44i|h�U@**)c L?i UL�*_ @*|ih?@|��i*) 4L_�u)

|�i Ti?@*|) u�?U|�L? @TThL@U� tL |�@| hi�@h_t @hi L?*) }��i? uLh |�Lti �@h�@M*it Lh @|

|�Lti �Lh�3L?tc uLh ���U� @ *@h}i hitTL?ti �? |�i ULhhiU| _�hiU|�L? tii4t @ Th�Lh� 4Lt|

T*@�t�M*i� 6Lh i @4T*ic L?i 4@) i TiU| 4L?i|@h) TL*�U) t�LU!t |L 4L�i �?|ihit|

h@|it @ *L| �? |�i �ht| ui� Tih�L_tc M�| L?i 4@) Mi *itt t�hi @ML�| @ t|hL?} hi@U|�L?

Lu Th�Uit Lh @ t|hL?} hi@U|�L? Lu �?|ihit| h@|it u�h|�ih L�|c UL4T@hi_ |L L|�ih t�LU!t

��||�?} |�i iUL?L4)�

W? t�4c ML|� @TThL@U�it �@�i |�i�h @_�@?|@}it @t �i** @t _h@�M@U!t� #iU�_�?}c

���U� �t 4Lhi @TThLTh�@|i �t @ 4@||ih Lu |@t|it @?_ ��_}i4i?|� AL @**L� |�i hi@_ih

|L 4@!i |��t ��_}i4i?|c W Thiti?| hit�*|t �t�?} ML|� @TThL@U�it�

� +it�*|t

W? |��t tiU|�L?c W Thiti?| tL4i hit�*|tc �t�?} 4) 4i|�L_� W �@�i i4T*L)i_ |�i _@|@ ti|

�ti_ �? �ih?@?!i @?_ ���L� E�bbS@cM�c ���U� UL?|@�?t |�i B#�c |�i B#� _i�@|Lhc

@ UL44L_�|) Th�Ui �?_i c |L|@* hitih�itc ?L?MLhhL�i_ hitih�it @?_ |�i ui_ih@* u�?_t

h@|i uLh |�i N�5� @| 4L?|�*) uhi^�i?U�it uhL4 a@?�@h) �bSD |L #iUi4Mih �bbS� AL

LM|@�? 4L?|�*) LMtih�@|�L?t uLh @** |�iti tih�itc tL4i �?|ihTL*@|�L? �@t hi^��hi_c

tii �ih?@?!i @?_ ���L� E�bbS@� @?_ �? T@h|�U�*@h |�i�h ��,+ �bbD �Lh!�?} T@Tih

�iht�L? uLh _i|@�*t� W �@�i �||i_ @ V�+ ��|� �2 *@}t �? *i�i*t Lu |�i *L}t Lu |�i tih�it

i UiT| uLh �t�?} |�i ui_ih@* u�?_t h@|i _�hiU|*)� W _�_ ?L| �?U*�_i @ UL?t|@?| Lh @ |�4i

|hi?_�

�iuLhi 4L��?} |L hit�*|t Tih4�||�?} �?uihi?Uic i @4�?i �}�hi 2c t�L��?} |�i h@?}i

Lu �4T�*ti hitTL?ti u�?U|�L?tc ���U� t@|�t�it |�i t�}? hit|h�U|�L?t uLh & ' fc �c � � �g

Tih�L_t @u|ih |�i t�LU!c ��ihi g ' D� A�i V�+ ULi�U�i?|t @?_ |�i �@h�@?Ui�

UL�@h�@?Ui 4@|h� P �@�i Mii? � i_ @| |�i �w, TL�?| it|�4@|i� AL }i?ih@|i |��t

�}�hic �ffff U@?_�_@|i _h@�t uLh @ �@�i Mii? }i?ih@|i_� W? @__�|�L? |L |�i ML�?_tc �f

h@?_L4*) ti*iU|i_ �4T�*ti hitTL?tit t@|�tu)�?} |�i t�}? hit|h�U|�L?t �@�i Mii? _h@�?

|L t�L� �L� R|)T�U@*� hitTL?tit �? |�iti M@?_t 4�}�| *LL! *�!i� 6�}�hi � �@h�it |�i

hit|h�U|�L? �Lh�3L? g� �?i U@? @*hi@_) tii |�@| |�i ML�?_t uLh |�i hitTL?ti Lu hi@*

B#� t|h@__*i |�i ?L�hitTL?ti *�?i @| 3ihL� A��t |�h?t L�| |L Mi @ h@|�ih |)T�U@*

ui@|�hi Lu 4Lt| Lu |�i �@)it�@? t@4T*�?} hit�*|t @t �i**G �i _�tU�tt |�iti ui@|�hit �?

4Lhi _i|@�* �? t�MtiU|�L? ����

�iuLhi |�h?�?} |L |�iti hit�*|t @?_ uLh UL4T@h�tL? ��|� |�itic �}�hi e t�L�t

hit�*|t LM|@�?i_ uhL4 @ R|h@_�|�L?@*� ��L*it!) _iUL4TLt�|�L? Lu Pc ��i� �4TLt�?}

*L�ih |h�@?}�*@h�|) L? �� A�i ��L*it!) _iUL4TLt�|�L? �t TLT�*@h �? |�i *�|ih@|�hi

MiU@�ti �| �t i@t) |L UL4T�|i� A��t 4i|�L_ hi^��hit @ U�L�Ui hi}@h_�?} |�i Lh_ih�?}

Lu |�i �@h�@M*it @t �i** @t |�i U�L�Ui Lu |�i �@h�@M*ic ��Lti �??L�@|�L?t @hi |L Mi

�f

Page 13: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

�?|ihThi|i_ @t 4L?i|@h) TL*�U) t�LU!t� Oihic W �_i?|�u) |�i 4L?i|@h) TL*�U) t�LU!

��|� |�i �??L�@|�L?t �? |�i 6i_ih@* 6�?_t +@|i Lh_ihi_ *@t|� ��| _�gihi?|*)c ��|�

|��t �_i?|��U@|�L?c 4L?i|@h) TL*�U) t�LU!t @hi @tt�4i_ �@�i @? �?t|@?|@?iL�t igiU|

L?*) L? |�i 6i_ih@* 6�?_t +@|i E@?_ |L Mi |�i L?*) t�LU! |L t@|�tu) |��t��

6�}�hi e t�L�t �4T�*ti hitTL?tit uLh @ �Lh�3L? Lu �T |L ��i )i@ht @u|ih |�i t�LU!�

A�i |LT hL�t UL?|@�? |�i hit�*|t uLh hi@* B#� @?_ |L|@* hitih�itc |�i 4�__*i hL�

UL?|@�?t |�i hit�*|t uLh |�i B#� Th�Ui _i�@|Lh @?_ uLh ?L?MLhhL�i_ hitih�it @?_ |�i

ML||L4 hL� UL?|@�?t |�i hit�*|t uLh |�i UL44L_�|) Th�Ui �?_i @?_ |�i ui_ih@* u�?_t

h@|i� Oihi @t �i** @t �? @** L|�ih T*L|tc W t�L� |�i 4i_�@? @t �i** @t |�i �SI @?_ |�i

HeI ^�@?|�*it uLh |�i t@4T*i Lu �4T�*ti hitTL?titG �u |�i _�t|h�M�|�L? �@t ?Lh4@*c

|�iti ^�@?|�*it �L�*_ ULhhitTL?_ |L @ L?i t|@?_@h_ _i��@|�L? M@?_� � ?�4Mih Lu

@�|�Lht Thiuih |�L t|@?_@h_ _i��@|�L? M@?_tc ���U� �L�*_ ULhhitTL?_ |L |�i 2��I

@?_ |�i b.�.I ^�@?|�*it� ��| }��i? |�@| W �@?| |L hiTLh| |�i t@4i t|@|�t|�Ut �? @** |�i

�}�hit @?_ }��i? |�@| W M@ti_ �?uihi?Ui �? |�i T�hi�t�}?�hit|h�U|�L? @TThL@U� L? L?*)

L?i ��?_hi_ _h@�t uLh UL4T�|@|�L?@* hi@tL?tc W ui*| |�@| W UL�*_ ?L| hiTLh| |�iti

^�@?|�*it ThiU�ti i?L�}�� 6�h|�ih4Lhic L?i t|@?_@h_ _i��@|�L? M@?_t @hi TLT�*@h

�? |��t *�|ih@|�hi @t �i**� A�i hit�*|t @hi u@�h*) Rhi@tL?@M*i� �? |�@| |�i) UL?�h4

UL?�i?|�L?@* �?_ih}h@_�@|i |i |MLL! �?|��|�L?� A�i Rhi@tL?@M*i?itt� Lu �}�hi e �t

?L| @? @UU�_i?|G |h)�?} L�| @** |�i TLtt�M�*�|�it Lu Lh_ih�?} �@h�@M*it @?_ �_i?|�u)�?} @

4L?i|@h) TL*�U) t�LU!c �| t�L�*_ ?L| Mi |LL t�hTh�t�?}c |�@| L?i U@? �?_ L?ic ���U�

UL?�h4t |�i UL?�i?|�L?@* ��t_L4� `�|�L�| @ }LL_ _iui?ti Lu |�i |�4�?} �4T*�U�| �?

|�i T@h|�U�*@h ��L*it!) _iUL4TLt�|�L? i4T*L)i_c |�i hit�*|t Lu �}�hi e 4@) |��t Mi

|@�?|i_ M) |�i tTiU��U@|�L? ti@hU� _itUh�Mi_ �? |�i �?|hL_�U|�L?�

�?i U@? @*tL tii |�i RTh�Ui T�33*i� TL�?|i_ L�| M) 5�4t E�bb2�G |�i B#� _i�

�@|Lh 4L�it t*�}�|*) @ML�i 3ihL �ht| MiuLhi _iU*�?�?} Mi*L� 3ihL @u|ih @ 4L?i|@h)

TL*�U) t�LU! Etii @*tL |�i hi4@h!t �? @TTi?_� ��� A�i |�L R@}?Lt|�U� �_i?|��U@|�L?

@TThL@U�it |L Mi i4T*L)i_ ?i | ��** @�L�_ |�i Th�Ui T�33*i M) UL?t|h�U|�L?�

��� +it�*|t uLh |�i T�hi�t�}?�hit|h�U|�L? @TThL@U��

��h Mi?U�4@h! hit�*| @hi UL?|@�?i_ �? �}�hi Dc t�L��?} |�i �4T�*ti hitTL?tit uhL4

@ T�hi�t�}?�hit|h�U|�L? @TThL@U� ��|� g ' D� W�i�c |�i hitTL?tit Lu |�i B#� Th�Ui

_i�@|Lhc |�i UL44L_�|) Th�Ui �?_i @?_ ?L?MLhhL�i_ hitih�it �@�i Mii? hit|h�U|i_

?L| |L Mi TLt�|��i @?_ |�i ui_ih@* u�?_t h@|i ?L| |L Mi ?i}@|��i uLh |�i t� 4L?|�t

&c & ' fc � � � c D uL**L��?} |�i t�LU!� A�i hit�*|t U@? Mi _itUh�Mi_ @t uL**L�tG

�� `�|� @ 2%� ThLM@M�*�|)c |�i �4T�*ti hitTL?ti uLh hi@* B#� �t ��|��? @ f�2TihUi?| UL?�_i?Ui M@?_ @hL�?_ 3ihL�

2� A�i B#� Th�Ui _i�@|Lh hi@U|t �ih) t*�}}�t�*)c ��|� Th�Uit _hLTT�?} M) @ML�|

��

Page 14: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

f�2 TihUi?| ��|��? @ )i@hc @?_ _hLTT�?} M) f�D TihUi?| ��|��? ��i )i@ht� A�i

Th�Ui T�33*i �t @�L�_i_ M) UL?t|h�U|�L?�

�� A�i UL44L_�|) Th�Ui �?_i hi@U|t t��u|*)c hi@U��?} @ T*@|i@� Lu @ ��D TihUi?|

_hLT @u|ih @ML�| L?i )i@h�

e� A�i 6i_ih@* 6�?_t +@|i hi@U|t *@h}i @?_ TLt�|��i*) �44i_�@|i*)c |)T�U@**) h�t�?}

M) �f M@t�t TL�?|tc |�i? hi�iht�?} UL�hti ��|��? @ )i@hc �*|�4@|i*) _hLTT�?} M)

�f M@t�t TL�?|t�

D� �L?MLhhL�i_ hitih�it @?_ |L|@* hitih�it ML|� _hLT �?�|�@**)c ��|� ?L?MLhhL�i_

hitih�it _hLTT�?} M) 4Lhi E@hL�?_ f�D TihUi?|� |�@? |L|@* hitih�it E@hL�?_ f�2

TihUi?|�� �u|ih L?i |L |�L )i@htc @ hi�iht@* ti|t �? ��|� hitih�it i�i?|�@**)

i T@?_�?} M) @hL�?_ f�e TihUi?|�

A�i �?�|�@* S�4L?|�t hitTL?ti uLh 4Lt| Lu |�iti �@h�@M*it *LL! h@|�ih UL?�i?|�L?@*

i UiT| uLh hi@* B#�� W?_ii_c L?i 4@) UL?U*�_i uhL4 |��t �}�hi |�@| |�i hi@U|�L? Lu

hi@* B#� U@? @t i@t�*) Mi TLt�|��i @t ?i}@|��i uL**L��?} @ RUL?|h@U|�L?@h)� t�LU!�

`��*i |��t �t UL?t�t|i?| ��|� |�i |i |MLL! ��i� Lu _iU*�?�?} L�|T�| @u|ih @ 4L?i|@h)

TL*�U) t�LU!c |�i _@|@ _Lit ?L| tii4 |L �h}i |��t ��i� �TL? �t� A�i @?t�ih |L |�i

LTi?�?} ^�it|�L? �tG |�i igiU|t Lu 4L?i|@h) TL*�U) t�LU!t L? hi@* L�|T�| @hi @4M�}��

L�t� � L?i�t|@?_@h_ _i��@|�L? 4L?i|@h) TL*�U) t�LU! 4@) *i@�i L�|T�| �?U�@?}i_

Lh 4@) _h��i L�|T�| �T Lh _L�? M) �T |L f�2 TihUi?| �? 4Lt| U@titc |��t TLtt�M*)

|h�}}ih�?} u@�h*) t�3i@M*i 4L�i4i?|t Lu �?!?L�? t�}?�

A�i u�h|�ih UL�hti Lu @** |�i hitTL?tit *LL!t Tih�@Tt *itt UL?�i?|�L?@*c @*|�L�}�

?L| �@h_ |L i T*@�?� Oihi @hi tL4i t�}}it|�L?t� �L44L_�|) Th�Uit hi@U| 4Lhi ^��U!*)

|�@? |�i B#� _i�@|Lhc t�?Ui UL44L_�|�it @hi |h@_i_ L? 4@h!i|t ��|� �ih) �i �M*i

Th�Uit� �t uLh hitih�it @?_ �?|ihit| h@|itc ?L|i |�@| |�iti �4T�*ti hitTL?tit UL?|@�?

|�i i?_L}i?L�t hi@U|�L? Lu 4L?i|@h) TL*�U) |L �|t L�? t�LU!t� A�i 6i_ih@* 6�?_t

+@|i hi�ihtit UL�hti @?_ |�h?t ?i}@|��i uLh Tih�@Tt L?i Lu |�i uL**L��?} |�L hi@tL?�

6�ht|c |��t 4@) hi�iU| |�@| 4L?i|@h) TL*�U) t�LU!t hi@**) @h�ti @t ihhLht Lu @ttitt4i?|

Lu |�i iUL?L4�U t�|�@|�L? M) |�i 6i_ih@* +itih�i �@?!� A�i 6i_ 4@) |)T�U@**)

|h) |L !iiT |�i t|iih�?} ��ii* t|i@_)G t�L�*_ |�i) @UU�_i?|@**) 4@!i @? ihhLh @?_

Rt�LU!� |�i iUL?L4)c |�i) ��** |h) |L hi�ihti UL�hti tLL? @u|ih�@h_t� 5iUL?_c |��t

4@) hi�iU| @ hi�iht@* uhL4 @ *�^��_�|) igiU| |L @ 6�t�ih�@? igiU|G ��|� �?�@|�L?

_iU*�?�?}c @ _iU*�?i �? |�i ?L4�?@* h@|i 4@) ?L?i|�i*itt �?_�U@|i @ h�ti �? |�i hi@*

h@|i� wLL!�?} @| |�i hitTL?tit Lu hitih�itc W u@�Lh |�i �ht| ��i�� �M��L�t*)c L|�ih

hi@tL?@M*i �?|ihThi|@|�L?t U@? Mi uL�?_�

A��t �_i?|��U@|�L? Lu |�i 4L?i|@h) TL*�U) t�LU! tii4t @TTi@*�?}*) U*i@? |L 4i

@t �| L?*) 4@!it �ti Lu @ Th�Lh� @TTi@*�?} @?_ UL?ti?t�@* ��i�t @ML�| |�i igiU|t Lu

4L?i|@h) TL*�U) t�LU!t L? Th�Uitc hitih�it @?_ �?|ihit| h@|it� A�ihi �t L?i _i}hii Lu

�2

Page 15: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

U�L�Ui �ihic |�L�}�G |�i �Lh�3L? g uLh |�i t�}? hit|h�U|�L?t� OL� ThiU�ti _Lit |��t

�Lh�3L? ?ii_ |L Mi tTiU��i_c ��i� �L� ti?t�|��i @hi |�i hit�*|t |L U�@?}it �? gq A�i

@?t�ih �t ThL��_i_ �? �}�hi Sc t�L��?} |�i �4T�*ti hitTL?ti u�?U|�L?t uLh hi@* B#�c

��i? �4TLt�?} @ �@h�i|) Lu U�L�Uit uLh g� A�i *iu| UL*�4? t�L�t |�i hit�*|t uLh @

��4L?|�t Ek'2� @?_ @ S�4L?|�t Ek'D� �Lh�3L?c ���*i |�i h�}�| UL*�4? t�L�t |�i

hit�*|t uLh @ �2�4L?|�t Ek'��� @?_ @ 2e�4L?|�t Ek'2�� �Lh�3L?� A�i �@h�@|�L? �t

hi4@h!@M*) 4L_ih@|iG itti?|�@**)c @** Lu |�iti �}�hit t�L� @}@�? @? ihhLh M@?_ Lu

f�2 TihUi?| @hL�?_ 3ihL� �t L?i 4L�it uhL4 t�Lh|ih |L *L?}ih �Lh�3L?t gc |�@|

M@?_ tii4t |L 4L�i �T tL4i��@|c �L�i�ih� � t�Lh|�*��i_ *�^��_�|) igiU| �t Mi||ih

uLh |�i UL?�i?|�L?@* ��i��

A�i hit�*|t @hi ?L| ^��|i @t t�@hT @| |�i t�Lh| i?_ @t uLh |�i ��L*it!) _iUL4�

TLt�|�L?� A��t �t |L Mi i TiU|i_G |�i ��L*it!) _iUL4TLt�|�L? ThL��_it @? i @U|

�_i?|��U@|�L?c ���*i |�i T�hi t�}? hit|h�U|�L? @TThL@U� _Lit ?L|� �t |�i �Lh�3L? �?�

Uhi@titc �L�i�ihc |�i _i}hii Lu �?Uih|@�?|) @ML�| |�i hitTL?ti @TTi@ht |L Mi @ML�|

|�i t@4i� �TT@hi?|*)c |�i t�}? hit|h�U|�L?t @hi @ML�| @t hit|h�U|��i @t Lh i�i? 4Lhi

hit|h�U|��i |�@? |�i ��L*it!) �_i?|��U@|�L? @| �Lh�3L?t i Uii_�?}c t@)c |�hii )i@ht

@u|ih |�i t�LU!� W| �t @*tL �?|ihit|�?} |L ?L|i |�@| |�i UL?�_i?Ui M@?_t �? �}�hi D

@hi |)T�U@**) hi4@h!@M*) t)44i|h�U @hL�?_ |�i 4i_�@?�

��2 +it�*|t uhL4 |�i Ti?@*|)�u�?U|�L? @TThL@U��

6�}�hit . @?_ H ThL��_i |�i t@4i hit�*|tc ?L� �t�?} |�i Ti?@*|)�u�?U|�L? @TThL@U�

h@|�ih |�@? |�i T�hi�t�}?�hit|h�U|�L? @TThL@U�� 6�ht|c UL4T@hi |�i hit�*|t uLh |�i

S�4L?|�t �Lh�3L?c g ' Dc ��i? �t�?} |�i Ti?@*|) u�?U|�L? @TThL@U� �? �}�hi . |L

|�Lti Lu |�i T�hi�t�}?�hit|h�U|�L? @TThL@U� �? �}�hi D� A�i hit�*|t *LL! ^�@*�|@|��i*)

*@h}i*) |�i t@4i� A�i 4@}?�|�_it @hi t*�}�|*) *@h}ihc @?_ |�i UL?�_i?Ui M@?_t tL4i�

��@| t�@hTihc �? T@h|�U�*@h �44i_�@|i*) @u|ih |�i t�LU!c UL4T@hi_ |L |�i T�hi�t�}?

hit|h�U|�L? @TThL@U�� A�i }hi@|it| _�gihi?Ui LM|@�?t uLh |�i �4T�*ti hitTL?ti uLh hi@*

B#�c ��i� uLh 4) Ui?|h@* ^�it|�L?� Oihic L?i U@? Tih�@Tt tii tL4i i��_i?Ui uLh |�i

UL?�i?|�L?@* ��i�G hi@* L�|T�|c @u|ih @ t�Lh| �?�|�@* @?_ T�33*�?} �?Uhi@ti M) @hL�?_

f�fD TihUi?|c |�i? _iU*�?it M) @ |i?|� Lu @ TihUi?| Lh 4Lhi ��|��? @ )i@hc L? @�ih@}i

}h@_�@**) hiUL�ih�?} @u|ih |�@|�

A�i _�gihi?Uit Mi|�ii? |�iti |�L @TThL@U�it �? �}�hit D @?_ . @hi i@t) |L i �

T*@�?� `��*i |�i T�hi�t�}?�hit|h�U|�L? @TThL@U� �t @}?Lt|�U @ML�| |�i t�3i Lu |�i �4�

T�*ti hitTL?ti @�@) uhL4 |�i t�}? hit|h�U|�L?c *@h}ih hitTL?tit @hi Rhi�@h_i_� M) |�i

Ti?@*|)�u�?U|�L? @TThL@U� @| *i@t| @t *L?} @t |��t _Lit ?L| }i?ih@|i t�}?���L*@|�L?t

i*ti��ihi� W?t|i@_ Lu @ h@?}i Lu �4T�*ti �iU|Lht UL?t�t|i?| ��|� |�i t�}? hit|h�U�

|�L?c |�i Ti?@*|) u�?U|�L? @TThL@U� tii!t @ �?�^�i 4L?i|@h) TL*�U) �4T�*ti �iU|Lh

M) ti@hU��?} i�}� uLh @ *@h}i �?�|�@* hi@U|�L? Lu |�i 6i_ih@* 6�?_t +@|i� W?_ii_c |��t

��

Page 16: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

hi@U|�L? �t ?L� u@�h*) t�@hT*) it|�4@|i_ |L Mi @ML�| �f M@t�t TL�?|tc ^��U!*) h�t�?} M)

@?L|�ih �f M@t�t TL�?|t� �?i LM|@�?t t�4�*@h*) t�@hT ihhLh M@?_t i*ti��ihi� A�i 4L?�

i|@h) TL*�U) �4T�*ti �iU|Lh �?�^�i*) �_i?|��i_ M) |�i Ti?@*|) u�?U|�L? �t @? i*i4i?|

�? |�i ti| Lu |�i �iU|Lht @_4�||i_ M) |�i T�hi�t�}?�hit|h�U|�L? @TThL@U�c }��i? @ _h@�

uLh |�i V�+ ULi�U�i?|tc ThL��_i_ |�@| ti| �t ?L| i4T|)� �?i �L�*_ |�ihiuLhi i TiU|

|�i h@?}i Lu �4T�*ti hitTL?tit Lu |�i Ti?@*|) u�?U|�L? @TThL@U� |L Mi UL?|@�?i_ �?

|�i h@?}i Lu �4T�*ti hitTL?tit Lu |�i T�hi�t�}?�hit|h�U|�L? @TThL@U�� W?_ii_c |��t

tii4t |L Mi |�i U@tiG |�i SeI h@?}i uLh |�i hi@* B#� hitTL?tic uLh i @4T*ic ?i�ih

tii4t |L �i?|�hi L�|t�_i |�i f�2 TihUi?| ihhLh M@?_ @hL�?_ 3ihL U@*U�*@|i_ uLh |�i

T�hi�t�}?�hit|h�U|�L? @TThL@U��

�?i U@? |��t i�|�ih ��i� |�i hit�*|t �? �}�hi . @t @ t�@hTi?�?} Lu |�i hit�*|t �?

�}�hi Dc _�i |L @__�|�L?@**) _it�h@M*i ThLTih|�it �4TLti_ L? |�i hit|h�U|i_ �4T�*ti

hitTL?titc Lh @t @ _�t|Lh|�L? Lu |�i hit�*|t �? �}�hi D _�i |L @__�|�L?@* @_��LU hit|h�U�

|�L?t� 5�?Ui |�i @�4 �t |L �4TLti |�i t�}? hit|h�U|�L?t @?_ ?L|��?} i*tic W �?_ |�i

T�hi�t�}?�hit|h�U|�L? @TThL@U� |L Mi 4Lhi @TTi@*�?}� A�i hit�*|t Lu |�i tiUL?_ @T�

ThL@U� @hi ?L?i|�i*itt �?uLh4@|��i �? |�@| |�i) t�L� |�i @__�|�L?@* 4�*i@}i LM|@�?i_

uhL4 @__�|�L?@*c TL|i?|�@**) _it�h@M*i hit|h�U|�L?tc LTi?�?} |�i _LLh |L 4Lhi _i|@�*i_

�?�it|�}@|�L?t�

A�i hit�*|t Lu |�i Ti?@*|) u�?U|�L? @TThL@U� @hi @*tL 4Lhi ti?t�|��i |L |�i U�L�Ui

Lu |�i hit|h�U|�L? �Lh�3L? gc @t @ UL4T@h�tL? Lu �}�hi H ��|� �}�hi S t�L�t� A��t �t

?L| t�hTh�t�?}G @t |�i hit|h�U|�L? �Lh�3L? �?Uhi@titc �| �t �?Uhi@t�?}*) �@h_ih |L !iiT

|�i t�}? hit|h�U|�L?t t@|�t�i_� `�|� �?Uhi@t�?} &c |�i ti@hU� uLh |�i 4L?i|@h) TL*�U)

�4T�*ti �iU|Lh �?Uhi@t�?}*) tii!t |L @�L�_ Ti?@*|�it uLh t�}? ��L*@|�L?t h@|�ih |�@?

hi�@h_t uLh 4L�i4i?|t �? |�i LTTLt�|i _�hiU|�L?� A�i SeI TihUi?| UL?�_i?Ui M@?_

uLh |�i Ti?@*|)�u�?U|�L? @TThL@U� !iiTt t|@)�?} �? |�i f�2 TihUi?| M@?_c @?_ @}@�?

4L�it �T �?|L TLt�|��i h@?}it ��|� *@h}ihgG �? u@U|c |�i hit�*|t uLh @ 2e�4L?|� �Lh�3L?

Ek'2�� Th@U|�U@**) h�*it L�| |�i UL?�i?|�L?@* ��i�� A��t hi�?uLhUit |�i UL?U*�t�L?

_h@�? �? |�i Thi��L�t t�MtiU|�L?c |�@| |�i UL?�i?|�L?@* ��i� hi^��hit @ t�Lh|�*��i_

*�^��_�|) igiU| Lhc @*|ih?@|��i*)c 4L?i|@h) TL*�U) t�LU!t @t TL*�U) ihhLht ���U� @hi

^��U!*) hi�ihti_�

A�i hit�*|t @hi ?L| @giU|i_ 4�U� M) |�i tTiU��U u�?U|�L?@* uLh4 Lu |�i Ti?@*|)

u�?U|�L?c �L�i�ihc @t �}�hi b hi�i@*t�

��� OL� 4�U� �@h�@|�L? _L 4L?i|@h) TL*�U) t�LU!t i T*@�?q

O@��?} �_i?|��i_ |�i 4L?i|@h) TL*�U) t�LU!c �| �t |�i? �?|ihit|�?} |L �?_ L�|c �L�

4�U� Lu |�i �@h�@|�L? |�iti t�LU!t i T*@�?� `�@| uh@U|�L? Lu |�i �?i TiU|i_ !�

t|iT @�i@_ �@h�@?Ui �?c t@)c hi@* B#�c Th�Uit @?_ �?|ihit| h@|itc @hi @UUL�?|i_ uLh M)

4L?i|@h) TL*�U) t�LU!tq A�iti ^�it|�L?t @hi @?t�ihi_ M) �}�hi �f uLh |�i Mi?U�4@h!

�e

Page 17: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

i Tih�4i?|c ��i� �t�?} @ T�hi t�}? hit|h�U|�L? @TThL@U� ��|� @ S�4L?|�t hit|h�U|�L?

Ek'D�� +it�*|t uLh |�i L|�ih i Tih�4i?|t *LL! u@�h*) t�4�*@h� A�i �}�hi t�L�t |�i

uh@U|�L? Lu |�i &�t|iT @�i@_ �@h�@?Ui �? |�i t� �@h�@M*it i T*@�?i_ M) 4L?i|@h)

TL*�U) t�LU!tc ��|� |�i �@h�@M*it Lh_ihi_ @t �? �}�hi D�

�UULh_�?} |L |�i 4i_�@? it|�4@|itc t�L�? @t |�i 4�__*i *�?it �? |��t �}�hic 4L?i�

|@h) TL*�U) t�LU!t @UUL�?| uLh �f TihUi?| Lu |�i �@h�@|�L?t �? hi@* B#� @| @** �Lh�3L?tc

uLh �T |L �f TihUi?| Lu |�i *L?}��Lh�3L? �@h�@|�L?t �? Th�Uit @?_ 2D TihUi?| Lu |�i �@h��

@|�L? �? �?|ihit| h@|it @| |�i t�Lh| �Lh�3L?c u@**�?} Lg @u|ih |�@|� , T*@�?�?} ��t| |�hii

Lh tL TihUi?| Lu |�i hi@* B#� �@h�@|�L?t @| @?) �Lh�3L? �t ��|��? |�i SeI UL?�_i?Ui

M@?_G �| |��t tii4t u@�h*) *�!i*)c |�@| 4L?i|@h) TL*�U) �@t �ih) *�||*i igiU| L? hi@*

B#�� A��t 4@) i�|�ih Mi _�i |L 4L?i|@h) TL*�U) t�LU!t �@��?} *�||*i hi@* igiU|c Lh

_�i |L @ 6i_ih@* +itih�i �@?! !iiT�?} @ t|i@_) �@?_ L? |�i ��ii*c @t @h}�i_ M)

�LU�h@?i E�bbe�c LL_uLh_ E�bbe� Lh �ih?@?!i E�bbS��

�4L?} |�i t� tih�itc |�i *@h}it| uh@U|�L? @| |�i *L?} i?_ �t i T*@�?i_ uLh Th�Uitc

���U� �t tL4i��@| t�TTLh|��i Lu |�i UL?�i?|�L?@* ��i� |�@| �? |�i *L?} h�?c 4L?i|@h)

TL*�U) L?*) �@t igiU|t L? �?�@|�L? @?_ ?L| L? 4�U� i*ti� 6Lh �?|ihit| h@|itc |�i *@h}it|

uh@U|�L? Lu �@h�@|�L? i T*@�?i_ M) 4L?i|@h) TL*�U) �t @| |�i t�Lh| �Lh�3L?c ThL��_�?}

u�h|�ih t�TTLh| |L |�i ��i�c |�@| 4L?i|@h) TL*�U) t�LU!t @hi @UU�_i?|@* ihhLht M) |�i

6i_ih@* +itih�i �@?!c ���U� @hi ^��U!*) hi�ihti_� A�i hi4@�?�?} �@h�@|�L?t �? Th�Uit

@?_ �?|ihit| h@|it 4@) t|�** Mi _�i |L 4L?i|@h) TL*�U)c M�| |�i? �| ?ii_t |L Mi _�i

|L |�i i?_L}i?L�t T@h| Lu 4L?i|@h) TL*�U)G M) t)t|i4@|�U@**) hitTL?_�?} |L t�LU!t

i*ti��ihic 4L?i|@h) TL*�U) 4@) i?_ �T Mi�?} hitTL?t�M*i uLh �ffI Lu |�i 4L�i4i?|t

�? Th�Uit� �?*) �fI TihUi?| Lu |�iti 4L�i4i?|t U@? _�hiU|*) Mi @tUh�Mi_ |L t�LU!t

}i?ih@|i_ M) 4L?i|@h) TL*�U) �|ti*u� A�iti hit�*|t @hi h@|�ih t�4�*@h |L |�i hit�*|t

uL�?_ �? |�i i4T�h�U@* V�+ *�|ih@|�hi tL u@hc tii |�i t�h�i)t U�|i_ �? |�i �?|hL_�U|�L?�

W?_ii_c @ t�4�*@h T*L| uLh |�i �@h�@?Ui _iUL4TLt�|�L? uhL4 @ ��L*it!) _iUL4TLt�|�L?

E?L| t�L�?� *LL!t u@�h*) t�4�*@h |L �}�hi �f i UiT| @| �Lh�3L?t Lu *itt |�@? L?i )i@h�

��e W?�@|�L? @?_ hi@* �?|ihit| h@|it

�?i U@? @?@*)3i |�i hit�*|t t�L�? u�h|�ih� 6Lh i @4T*ic L?i U@? U@*U�*@|i |�i �4T�*ti

hitTL?ti uLh �?�@|�L? h@|it M) U@*U�*@|�?} oZc@E&� ' oRc@E&��oRc@E&��2�c ��ihi oRc@E&�

�t |�i �Lh�3L? Lu |�i B#� _i�@|Lh @| �Lh�3L? &c }��i? |�i �4T�*ti �iU|Lh @c @?_ ��ihi

�i _i�?i oRc@E&� ' f uLh & f� A��t �? |�h? @**L�t |�i U@*U�*@|�L? Lu @ hitTL?ti Lu

|�i hi@* �?|ihit| h@|i M) t�M|h@U|�?} |�i Thi_�U|@M*i U�@?}i �? �?�@|�L? h@|it uhL4 |�i

hitTL?ti Lu @ L?i�)i@h A�M�** h@|ic 4@|U��?} 4@|�h�|�itG

ooc@E&� ' oA�M�**c@E&�� oZc@E& n �2�

�D

Page 18: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

AL U@*U�*@|i |��tc W @__i_ @ |�4i tih�it uLh |�i A�M�** h@|i @| UL?t|@?| 4@|�h�|) |L |�i

V�+ tTiU��U@|�L? @ML�ic �?Uhi@t�?} |�i ?�4Mih Lu �@h�@M*it uhL4 t� |L ti�i?G |�i

L?i�)i@h A�M�** h@|i h@|�ih |�@? |�i 6i_ih@* 6�?_t +@|i �t |�i @TThLTh�@|i ?L4�?@*

�?|ihit| h@|i uhL4 ���U� |L U@*U�*@|i @??�@* hi@* h@|it M) t�M|h@U|�?} |�i @??�@*

�?�@|�L? h@|i� A�i _@|@ �@t LM|@�?i_ uhL4 |�i �iM t�|i Lu |�i 6i_ih@* +itih�i �@?!

Lu 5|� wL��t� W �ti_ |�i T�hi t�}? hit|h�U|�L? @TThL@U� ��|� g ' D E@?_ ?L hit|h�U|�L?

L? |�i hitTL?ti Lu |�i ��)i@h A�M�** h@|i� |L �_i?|�u) |�i 4L?i|@h) TL*�U) t�LU!� W

U@*U�*@|i_ |�i �4T*�i_ hitTL?ti uLh �?�@|�L? @?_ |�i hi@* h@|i� A�i hit�*|t @hi �?

�}�hi ��� `�@| �t Tih�@Tt tL4i��@| t|h�!�?} �t |�i u@U| |�@| hi@* h@|it @hi TLt�|��i

uLh �T |L |�L )i@htc @?_ |�i? hi|�h? |L 3ihL� A�i L�iht�LL|�?} |L |�i ?i}@|��i

t�_ic ���U� �t ��t�M*i uLh ML|� |�i hitTL?ti Lu |�i 6i_ih@* 6�?_t +@|i @?_ |�i ��)i@h

?L4�?@* A���** h@|ic �t ?L| Thiti?| �? |�i hitTL?ti Lu |�i hi@* h@|i�

��D � t�44@h)�

A�i hit�*|t UL�*_ Mi T@h@T�h@ti_ @t @ ?i� t)?|�it�tG i�i? |�L�}� |�i }i?ih@* Th�Ui

*i�i* 4L�it �ih) }h@_�@**) uLh @ Tih�L_ Lu @ML�| @ )i@hc 4L?i|@h) TL*�U) t�LU!t

�@�i @4M�}�L�t hi@* igiU|t @?_ 4@) @U|�@**) Mi ?i�|h@*� A�iti LMtih�@|�L?t *@h}i*)

UL?�h4 |�i hit�*|t uL�?_ �? |�i i4T�h�U@* V�+ *�|ih@|�hi tL u@hc tii �? T@h|�U�*@h

wiiTihc 5�4t @?_ ~�@ E�bbS�c i UiT| uLh |�i @4M�}��|) hi}@h_�?} |�i igiU| L? L�|T�|G

|��t i UiT|�L? �tc Lu UL�htic @ h@|�ih �4TLh|@?| _�gihi?Ui� W @*tL @}hii ��|� |�iti

@�|�Lht |�@| �| 4@!it ti?ti |�@| �@h�@|�L? �? 4L?i|@h) TL*�U) @UUL�?|t L?*) uLh @

t4@** uh@U|�L? Lu |�i �@h�@|�L? �? @?) Lu |�iti �@h�@M*itG }LL_ 4L?i|@h) TL*�U) t�L�*_

Mi Thi_�U|@M*i TL*�U)c @?_ uhL4 |�@| TihtTiU|��ic 4L?i|@h) TL*�U) �? |�i N5 _�h�?}

|��t |�4i tT@? �@t Mii? t�UUittu�* �?_ii_�

e , |i?t�L?t

W? u�|�hi @TT*�U@|�L?t Lu |�i 4i|�L_ �?|hL_�Ui_ �? |��t T@Tihc �| 4@) Mi _it�h@M*i |L

UL4M�?i �| ��|� L|�ih �_i?|��U@|�L? ThLUi_�hit� , @4T*itG

�� �?i 4@) �@?| |L �4TLti 4Lhi tTiU��U hit|h�U|�L?t L? |�i t�@Ti Lu |�i �4T�*ti

hitTL?tit� A��t �t |�i hL�|i T�ht�i_ �? #�)ih E�bb.��

2� �?i 4@) �@?| |L @__�|�L?@**) �4TLtic |�@| |�i �44i_�@|i hitTL?tit Lu tL4i

�@h�@M*it �t 3ihLc UL4M�?�?} |�i 4i|�L_ �ihi ��|� @ RT@h|�@*� ��L*it!) u@U|Lh�

�3@|�L?� 6Lh i @4T*ic �? |�i �?�it|�}@|�L? @ML�ic L?i 4@) �@?| |L @__�|�L?@**)

�4TLti |�@| Th�Uit _L ?L| hi@U| �?t|@?|@?iL�t*) |L 4L?i|@h) TL*�U) t�LU!t�

�S

Page 19: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

�� �?i 4@) �@?| |L UL4M�?i |�i 4i|�L_ �ihi ��|� |�i 4i|�L_ �? �*@?U�@h_ @?_

"�@� E�bHb� @?_ @__�|�L?@**) �4TLtic |�@| |�i t�LU! �@t ?L *L?}�h�? igiU|t �?

@? L|�ih��ti UL�?|i}h@|i_ V�+�

e� �| |�i L|�ih i |hi4ic L?i 4@) �@?| |L �4TLti |�@| |�i t�LU! �t Tih4@?i?| �?

|�i ti?ti |�@| �| �t Lh|�L}L?@* |L @** |h@?t�|Lh) t�LU!t�

`��*i T�ht��?} |�iti t|h@|i}�it �? _i|@�* �L�*_ i |i?_ |��t T@Tih |LL 4�U�c �| �t

?L?i|�i*itt uh��|u�* |L ThL��_i tL4i TL�?|iht L? �L� �| U@? Mi _L?i �? Th�?U�T*i�

,tti?|�@**)c |�iti i |i?t�L?t @4L�?| |L �4TLt�?} @__�|�L?@* E*�?i@h� hit|h�U|�L?t L?

|�i �4T�*ti �iU|Lh�

A��t �t i@t) |L tii ��|� |�i RT@h|�@*� ��L*it!) u@U|Lh�3@|�L?� W�i�c t�TTLti L?i

�@?|t |L �4TLti |�@| |�i �?t|@?|@?iL�t hitTL?ti Lu tL4i �@h�@M*it �t 3ihLc ��i� @� '

fc � 5 M uLh tL4i t�Mti| M Lu @** �?_�Uit i�c � � � c6j� W| �t �44i_�@|i uhL4 i^�@|�L?

E��c |�@| |�iti @hi @__�|�L?@* *�?i@h hit|h�U|�L?t L? k� A�i i@t�it| 4i|�L_ Lu �4TLt�?}

|�i4 �t |L @*hi@_) U�LLti |�i ��L*it!) _iUL4TLt�|�L? �� �? i^�@|�L? E�� t�U� |�@| |�i

�@h�@M*it � 5 M @hi Lh_ihi_ �ht|� wi| 1 Mi |�i ?�4Mih Lu i*i4i?|t �? M � A�i hit|h�U�

|�L? L? k |�i? t�4T*) 4i@?tc |�@| |�i �ht| 1 i?|h�it Lu k @hi i^�@* |L 3ihLc ��i� |�@|

dk1n�c � � � c k6o �t @? E6� 1��_�4i?t�L?@* �iU|Lh Lu �?�| *i?}|�� A�i �4T*i4i?|@|�L?

Lu |��t i |i?t�L? �t u@�h*) t|h@�}�| uLh�@h_�

6Lh |�i @TT*�U@|�L? @| �@?_c �| 4@) Mi _it�h@M*i |L �4TLti |�@| Th�Uit _L ?L|

U�@?}i �? |�i �ht| Tih�L_ Lu |�i 4L?i|@h) TL*�U) t�LU!c �u L?i Mi*�i�it |�@| Th�Uit @hi

h@|�ih t*�}}�t� @?_ L?*) hi@U| ��|� @ *@}� +it�*|t @hi ThL��_i_ �? �}�hi �2� �t L?i

U@? tiic |�i �4T@U| L? hi@* B#� �@h_*) U�@?}ic UL4T@hi_ |L �}�hi D�

6Lh @ T@h|�@* �*@?U�@h_�"�@� t|h@|i}) Lu _�t|�?}��t��?} Mi|�ii? Tih4@?i?| @?_

|h@?t�|Lh) t�LU!tc *i| o�E4� ' *�4&<" o�E&� Mi |�i Tih4@?i?| hitTL?ti |L |�i ��|�

t�LU! �? @ ��L*it!)�_iUL4TLt�|�L? Lu P� A�i Tih4@?i?| hitTL?ti U@? @*|ih?@|��i*)

Mi U@*U�*@|i_ uhL4 |�i L*_ _iUL4TLt�|�L? Lu {t| �? |ih4t Lu |�i ��L*it!) t�LU!t

"| ' ��3��|c

{t| '"[�'f

��"|3�

wi| �E�� 'S"

�'f��� A�i Tih4@?i?| hitTL?ti o�E4� �t |�i? }��i? M) |�i ��|� UL*�4?

Lu �E��� �hc }��i? o�E4�c �E�� U@? Mi UL?t|h�U|i_ |��t �@)�

AL �4TLti |�@| @? �4T�*ti �iU|Lh �@t ?L Tih4@?i?| igiU| 4i@?t |L �4TLti |�i

6 *�?i@h hit|h�U|�L?t

f '6[�'�

k�o�E4�

Lh

f ' �E��k E.�

�.

Page 20: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

L? |�i T@h@4ih�3@|�L? k �? i^�@|�L? E��c tii i^�@|�L? Ee�� 5�TTLti |�ihi @hi i @U|*)

� UL�?|i}h@|�?} hi*@|�L?t @4L?} |�i i*i4i?|t Lu t|� A�i?c �E�� �t Lu h@?! 6� � @?_

i^�@|�L? E.� �4TLtit L?*) 6 � � *�?i@h*) �?_iTi?_i?| hit|h�U|�L?t� wi| � G W+� $�E�E��� Mi @ L?i�|L�L?i *�?i@h 4@TT�?} L?|L |�i ?�** tT@Ui Lu �E��� �?) �?�|�*i?}|�

�iU|Lh k t@|�tu)�?} E.� U@? |�i? Mi LM|@�?i_ uhL4 tL4i �iU|Lh � 5 W+� Tih �k ' ��c

k ' �k* mm k mm @?_ ��Ui �iht@G @?) �iU|Lh � _i*��iht @ t��|@M*i k |��t �@)� A��t

ThL��_it @ TL|i?|�@**) UL?�i?�i?| T@h@4i|ih�3@|�L? Lu |�i �4T�*ti �iU|Lht t@|�tu)�?}

|�i ?L�Tih4@?i?|�igiU| hit|h�U|�L?� �?i U@? |�i? ti@hU� L�ih |�i �4T�*ti �iU|Lht

|��t T@h@4i|ih�3i_ |L �4TLti |�i @__�|�L?@* t�}? hit|h�U|�L?t M) i�|�ih 4�?�4�3�?} |�i

Ti?@*|) u�?U|�L? Lh M) @_4�||�?} @** �4T�*ti �iU|Lht t@|�tu)�?} |�i t�}? hit|h�U|�L?t�

w�!i��tic t�TTLti L?i �@?|t |L �4TLti |�@| |�i t�LU! �t Lh|�L}L?@* |L @** |h@?�

t�|Lh) t�LU!t� �Lhi ThiU�ti*)c �i tii! @? �4T�*ti �iU|Lh @ @t |�i �ht| UL*�4? Lu

tL4i 4@|h� � t@|�tu)�?} P ' ���c ��ihi @?) �| �? |�i h@?}i Lu |�i *@t| � UL*�4?t

Lu � �@t L?*) |h@?t�|Lh) igiU|t L? t|� A��t �t i^���@*i?| |L tii!�?} @ �?�|�*i?}|�

T@h@4i|ih�3@|�L? k Lu @ �? i^�@|�L? E��c uLh ���U� @? 6� � 4@|h� ' i �t|tc tL |�@|

k �t Lh|�L}L?@* |L 'c k�' ' fc @?_ tL |�@| �E��' ' f� Oi?Uic k �t Lh|�L}L?@* |L |�i

?�** tT@Ui Lu �E��c ���U� 4i@?t |�@| k 4�t| Mi*L?} |L |�i h@?}i Lu �E���� A�ihi�

uLhic t�4�*@h |L |�i UL?t|h�U|�L? @ML�ic Uhi@|i @ t�M4@|h� ��E���

Lu �E��� M) U�LLt�?}

6 � � *�?i@h*) �?_iTi?_i?| UL*�4?t Lu �E���� �?) �?�|�*i?}|� �iU|Lh k t@|�tu)�?}

|�i Lh|�L}L?@*�|)�|L�|i4TLh@h)�t�LU!t hit|h�U|�L? U@? Mi LM|@�?i_ uhL4 tL4i �iU|Lh

� 5 W+63� Tih �k ' ��E���

�c k ' �k* mm k mm @?_ ��Ui �iht@G @?) �iU|Lh � _i*��iht @

t��|@M*i k |��t �@)�

6Lh @ T@h|�U�*@h UL�?|i}h@|i_ TL�?| it|�4@|i Lu |�i V�+ E��c �4T*i4i?|�?} |�i

T@h|�@* �*@?U�@h_�"�@� t|h@|i}�it @ML�i t�L�*_ ?L| ThL��_i 4�U� _��U�*|)c @?_ �|

|�ihiuLhi t�L�*_ Mi u@�h*) t|h@�}�|uLh�@h_ |L Uhi@|i �}�hit t�4�*@h |L 2 @?_ �� W| �t

UL?t�_ih@M*) 4Lhi |h�U!) |L ThL��_i �@)it�@? UL?�_i?Ui �?|ih�@*t uLh |�i t�4T*i hi@tL?

|�@| �@)it�@? V�+ it|�4@|�L?c �4TLt�?} UL�?|i}h@|�L?c �t t|�** tL4i��@| �?U�@h|ihi_

|ihh�|Lh)� �?i �?_ii_ ?ii_t |L �4TLti UL�?|i}h@|�L? @ Th�Lh� �ihic t�?Ui h@?_L4

_h@�t Lu |�i ULi�U�i?|t �? @? �?hit|h�U|i_ V�+ ��** }i?ih�U@**) ?L| )�i*_ �?�| hLL|t�

A�i 4@�? UL?|h�M�|�L?t tL u@h @hi M) k*i�Mih}i? @?_ �@? #��! E�bbe�c �@��i?t @?_

w�Mh@?L E�bbS� @?_ Bi�i!i E�bbS�� �? i Ui**i?| _�tU�tt�L? @?_ t�44@h) Lu |�i

�tt�it U@? Mi uL�?_ �? �@__@*@ @?_ W?��LL k�4 E�bbH�� W? t�4c @?) hi*�@M*i �@)it�@?

4i|�L_ uLh @ Th�Lh� UL�?|i}h@|i_ V�+t U@? |�i? @*tL Mi �ti_ �ihi� � Th@U|�U@**)

4Lhi @TTi@*�?} @TThL@U� �t |L _�hiU|*) �4TLti iUL?L4�U@**) ti?t�M*i UL�?|i}h@|�?}

hi*@|�L?t��Tt @ Th�Lh� M) |�i U�L�Ui Lu �@h�@M*it |L Mi �?U*�_i_ �? |�i V�+� 6L**L��?}

�LU�h@?i E�bbe�c L?i 4�}�| i�}� �ti |�i }hL�|� h@|it Lu @** �@h�@M*it i UiT| |�i

6i_ih@* 6�?_t +@|ic @?_ �?U*�_i |�i *@}}i_ UL?t�4T|�L?�L�|T�| h@|�L @t �i** @t

*@}}i_ *L}��2��i*LU�|)� W? @?) U@tic |�ihi @hi �i**�!?L�? _��U�*|�it �? ThiU�ti*)

it|�4@|�?} *L?}�h�? hitTL?titG ���*i �| �L�*_ *i@_ |LL u@h @t|h@) |L t�44@h�3i |�@|

�H

Page 21: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

*�|ih@|�hi �ihic �| t�L�*_ Mi U*i@h |�@| |�iti _��U�*|�it @hi *�!i*) |L U@hh) L�ih |L @?)

Lu |�i T@h|�@* �*@?U�@h_�"�@� it|�4@|�L? t|h@|i}�it ThLTLti_ @ML�i� �L i4T�h�U@*

hit�*|t @hi ThL��_i_ �? |��t T@TihG |�iti i |i?t�L?t @hi �?|ihit|�?} _�hiU|�L?t uLh u�|�hi

hiti@hU��

D �L?U*�t�L?t

A��t T@Tih ThLTLti_ @ ?i� R@}?Lt|�U� 4i|�L_ |L it|�4@|i |�i igiU|t Lu 4L?i|@h)

TL*�U)c �4TLt�?} t�}? hit|h�U|�L?t L? |�i �4T�*ti hitTL?tit Lu Th�Uitc ?L?MLhhL�i_

hitih�it @?_ |�i ui_ih@* u�?_t h@|i �? hitTL?ti |L @ 4L?i|@h) TL*�U) t�LU!� �L

hit|h�U|�L?t @hi �4TLti_ L? |�i hitTL?ti Lu hi@* B#�� W| |�h?i_ L�| |�@|

�� R�L?|h@U|�L?@h)� 4L?i|@h) TL*�U) t�LU!t �@�i @? @4M�}�L�t igiU| L? hi@*

B#�c 4L��?} �| �T Lh _L�? M) �T |L f�2 TihUi?| ��|� @ ThLM@M�*�|) Lu 2%��

�L?i|@h) TL*�U) t�LU!t @UUL�?|t uLh ThLM@M*) *itt |�@? |�i?|)��i TihUi?| Lu

|�i !�t|iT @�i@_ Thi_�U|�L? ihhLh �@h�@?Ui Lu hi@* L�|T�|c @?_ 4@) i@t�*) @UUL�?|

uLh *itt |�@? |�hii TihUi?|�

2� A�i B#� Th�Ui _i�@|Lh u@**t L?*) t*L�*) uL**L��?} @ UL?|h@U|�L?@h) 4L?i|@h)

TL*�U) t�LU!� A�i UL44L_�|) Th�Ui �?_i u@**t 4Lhi ^��U!*)�

�� �L?i|@h) TL*�U) t�LU!t @UUL�?| uLh L?*) @ t4@** uh@U|�L? Lu |�i uLhiU@t| ihhLh

�@h�@?Ui �? |�i ui_ih@* u�?_t h@|ic i UiT| @| �Lh�3L?t t�Lh|ih |�@? �@*u @ )i@h�

A�i) @UUL�?| uLh @ML�| L?i |��h_ Lu |�i �@h�@|�L? �? Th�Uit @| *L?}ih �Lh�3L?t�

`��*i |�iti LMtih�@|�L?t UL?�h4 tL4i Lu |�i hit�*|t uL�?_ �? |�i i4T�h�U@* V�+

*�|ih@|�hi tL u@hc |�ihi @hi @*tL tL4i TL|i?|�@**) �4TLh|@?| _�gihi?Uit �? T@h|�U�*@h

��|� hitTiU| |L 4) !i) ^�it|�L?� R�L?|h@U|�L?@h)� 4L?i|@h) TL*�U) t�LU!t _L ?L|

?iUitt@h�*) tii4 |L �@�i UL?|h@U|�L?@h) igiU|t L? hi@* B#�� A�i hit�*|t UL�*_ Mi

T@h@T�h@ti_ @t @ ?i� t)?|�it�tG i�i? |�L�}� |�i }i?ih@* Th�Ui *i�i* 4L�it �ih)

}h@_�@**) uLh @ Tih�L_ Lu @ML�| @ )i@hc 4L?i|@h) TL*�U) t�LU!t �@�i @4M�}�L�t hi@*

igiU|t @?_ 4@) @U|�@**) Mi ?i�|h@*� �?i t�L�*_ |�ihiuLhi uii* *itt UL4uLh|@M*i ��|�

|�i UL?�i?|�L?@* ��i� @?_ |�i U�hhi?| UL?ti?t�t Lu |�i V�+ *�|ih@|�hi |�@? �@t Mii?

|�i U@ti tL u@h�

�b

Page 22: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

�TTi?_�

� ��@h@U|ih�3�?} W4T�*ti ViU|Lht

wi| � Mi |�i L?i�t|iT @�i@_ Thi_�U|�L? ihhLh �? @ V�+ Lu ? �@h�@M*it @?_ *i| � Mi |�i

�iU|Lh Lu u�?_@4i?|@* �??L�@|�L?tc hi*@|i_ |L � ��@ tL4i 4@|h� �c

� ' ��

wi| P Mi |�i �@h�@?Ui�UL�@h�@?Ui 4@|h� Lu �c @tt�4i_ |L Mi ?L?t�?}�*@hc ���*i |�i

�_i?|�|) 4@|h� �t @tt�4i_ |L Mi |�i �@h�@?Ui�UL�@h�@?Ui 4@|h� Lu �� Wu � ' e�c

��i� |�i �iU|Lh ��|� 3ihLt i�ih)��ihi i UiT| uLh �|t �ht| i?|h)c i^�@* |L �?�|)c |�i?

� ' �e� i^�@*t @�c |�i �ht| UL*�4? Lu �� Oi?Uic |�i ��|� UL*�4? Lu � _itUh�Mit |�i

��|� R�4T�*ti �iU|Lh�c ��i� |�i hiThiti?|@|�L? Lu @? �??L�@|�L? �? |�i ��|� t|h�U|�h@*

�@h�@M*i @t @ L?i�t|iT @�i@_ Thi_�U|�L? ihhLh� ��| _�gihi?|*)c |�i ��|� UL*�4? Lu �

_itUh�Mit |�i �44i_�@|i �4T@U| L? @** �@h�@M*it Lu @? �??L�@|�L? �? |�i ��|� t|h�U|�h@*

�@h�@M*i� ��h @�4 �t |L U�@h@U|ih�3i @** TLtt�M*i �4T�*ti �iU|Lht� �?i U@? _L tLc �t�?}

|�i LMtih�@|�L? |�@| @?) |�L _iUL4TLt�|�L?t P ' ��� @?_ P ' �� ��� �@�i |L t@|�tu)

|�@|�� ' �' EH�

uLh tL4i Lh|�L}L?@* 4@|h� 'c ��i� ''� ' Uc tii @*tL 6@�t| E�bbb� @?_ N�*�} E�bbb�� W

�?_ |�i uL**L��?} ThLTLt�|�L? �tiu�*c ���U� W t�@** ThL�i _�hiU|*)� W uL**L� |�i }i?ih@*

UL?�i?|�L? |�@| @** �iU|Lht @hi |L Mi �?|ihThi|i_ @t UL*�4?t�

�hLTLt�|�L? � wi| P Mi @ TLt�|��i _i�?�|i 4@|h� � wi| %�c � ' �c � � � c6 Mi |�i i�}i?�

�iU|Lht Lu Pc ?Lh4@*�3i_ |L uLh4 @? Lh|�L?Lh4@* M@t�t Lu W+6� wi| b�c � ' �c � � � c6

Mi |�i ULhhitTL?_�?} i�}i?�@*�it� wi| @ 5 W+6 Mi @ �iU|Lh� A�i?c |�i uL**L��?} uL�h

t|@|i4i?|t @hi i^���@*i?|G

�� A�ihi @hi ULi�U�i?|t k�c � ' �c � � � c6 ��|�S6

�'� k2� ' �c tL |�@|

@ '6[�'�

�k�

tb�

�%�

2� �P ' P� @@� �t TLt�|��i ti4�_i�?�|i @?_ t�?}�*@h�

�� A�i �iU|Lh @ �t @? �4T�*ti �iU|Lhc ��i�c |�ihi �t tL4i 4@|h� �c tL |�@| ��� ' P

@?_ tL |�@| @ �t @ UL*�4? Lu ��

2f

Page 23: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

e� wi| �� ��� ' P uLh tL4i 4@|h� �� ' d�@�c � � � c �@6o� A�i? |�ihi @hi ULi�U�i?|t

k�c � ' �c � � � c6 ��|�S

6�'� k

2� ' �c tL |�@|

@ '6[�'�

k��@�

�L|i |�@| |�ihi @hi 6 � � R_i}hiit Lu uhii_L4� �? T�U!�?} @? �4T�*ti �iU|Lhc

@?_ |�@| �4T�*ti �iU|Lht U@??L| Mi @hM�|h@h�*) *L?}G |�i �@�U�)�5U��@h3 �?i^�@*�|)

�4T*�it |�@|

mm @ mm�yxxw 6[

�'�

m b� m mm %� mm2c

uLh i @4T*i�

�hLLuG

6�ht|c W t�L� |�@| |�i |��h_ t|@|i4i?| �4T*�it |�i tiUL?_ t|@|i4i?|� AL |�@| i?_c

�h�|i � ' d@� � � � @6o �? uLh4 Lu �|t UL*�4?tc @?_ ?L|i |�@|

P ' ��� '6[�'�

@�@�

�tt�4i ��*�L�}�c |�@| @ �t |�i �ht| UL*�4?c @ ' @�� A�i?c �P 'S6

�'2 @�@�

�c ���U� �t

TLt�|��i ti4�_i�?�|i @?_ t�?}�*@hc t�?Ui i@U� Lu |�i 4@|h�Uit @�@�

� @hi Lu h@?! ��

�i |c W t�L� |�@| |�i tiUL?_ t|@|i4i?| �4T*�it |�i |��h_� 6�?_ |�i ?L?3ihL

i�}i?�@*�it �b�c � ' 2c � � � c6 @?_ �|t ULhhitTL?_�?} i�}i?�iU|Lht �%�c � ' 2c � � � c6 uLh |�i

TLt�|��i ti4�_i�?�|i 4@|h� �P ' P� @@�c ?L|�?} |�@| �P 4�t| Mi Lu h@?! 6� �c t�?Ui

P �t Lu h@?! 4� wi|

� 'k@c

t�b2�%2c

t�b�c �%� � � �

t�b6�%6

l

� t�4T*i U@*U�*@|�L? t�L�t |�@| �?_ii_ P ' ����

AL tii |�@| |�i |��h_ t|@|i4i?| �4T*�it |�i *@t|c ?L|i |�@| � ' ��' uLh tL4i

4@|h� ' ��|� ''� ' Uc tii i^�@|�L? H� A�i ULi�U�i?|t k U@? ?L� Mi uL�?_ �? |�i

�ht| UL*�4? Lu '� �L?�ihti*)c }��i? @?) t�U� �iU|Lh k Lu �?�| *i?}|�c UL4T*i4i?| �|

|L @? Lh|�L}L?@* M@t�t |L uLh4 |�i 4@|h� '� A�i?c *i| � ' ��'�

AL tii |�i i^���@*i?Ui Mi|�ii? |�i |��h_ @?_ |�i �ht| t|@|i4i?|c uL**L� |�i t@4i

@h}�4i?|c ?L|�?} |�@|

�� 'k%� � � � %6

l5999997

sb� f � � � f

fsb2 � � � f

������

������

f f � � �sb6

6:::::8

2�

Page 24: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

�t t�4T*) @ T@h|�U�*@h _iUL4TLt�|�L? �� ��� ' P�

A��t �?�t�it |�i ThLLu� �

B��i? @? �4T�*ti �iU|Lh @c L?i �L�*_ *�!i |L U@*U�*@|i |�i T@h| Lu |�i L?i�t|iT

@�i@_ Thi_�U|�L? ihhLh �| ���U� �t @||h�M�|@M*i |L t�LU!t ThLTLh|�L?@* |L |�@| �iU|Lh�

Wu |�i i?|�hi 4@|h� � �@t @�@�*@M*i @?_ @ �@t |�ic t@)c �ht| UL*�4?c L?i �L�*_

t�4T*) U@*U�*@|i �| ' �3��| @?_ �ti �|c� @t |�i tU@*i Lu |�i t�LU! @||h�M�|@M*i |L @�

�L|��@|i_ M) |��t hi@tL?�?}c _i�?iG

#i�?�|�L? 2 B��i? @? �4T�*ti �iU|Lh @ @?_ @ L?i�t|iT @�i@_ Thi_�U|�L? ihhLh � 5W+6c �E@� 5 W+ �t U@**i_ |�i tU@*i Lu @ t�LU! @||h�M�|@M*i |L @c �u |�ihi i �t|t @ 4@|h� �

��|� ��� ' Pc Lu ���U� @ �t |�i ��|� UL*�4? uLh tL4i �c tL |�@| �E@� ' E�3�����

W| |�h?t L�| |�@| |��t |�it _L�? |�i tU@*i �?�^�i*)c ThL��_i_ P �t ?L| t�?}�*@h�

�hLTLt�|�L? 2 B��i? @? �4T�*ti �iU|Lh @ @?_ @ L?i�t|iT @�i@_ Thi_�U|�L? ihhLh �c

|�i tU@*i Lu |�i t�LU! �E@� @||h�M�|@M*i |L @ �t �?�^�i @?_ U@? Mi U@*U�*@|i_ @t uL**L�t�

wi| K 5 W+6 tL*�i |�i |�L i^�@|�L?t

f ' EP� @@�� K

� ' K�@

A�i tL*�|�L? K i �t|t @?_ �t �?�^�i� A�i?c

�E@� ' K��

�hLLuG 5�TTLtic � �@t @�@�*@M*i @?_ @tt�4i ��*�L�}�c |�@| @ �t �|t �ht| UL*�4?�

A��tc � U@? Mi T@h|�|�L?i_ @t � ' d@m�2o� w�!i��tic T@h|�|�L? � ' �3� �?|L

� '

%K�

�2

&

@t �i** @t � ' �3�� �?|L

� '

%�E@�

T2

&

�*i@h*)c �E@� ' K��G |��tc |�i |@t! �t |L U�@h@U|ih�3i K� �L|i �ht| |�@|

P ' ��� ' @@� n�2��

2 Eb�

�i |c ?L|i |�@|

U6 ' �� '

%K�@ K��2

�2@ �2�2

&

22

Page 25: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

Oi?Uic K�@ ' � @?_ K��2 ' f� A�i *@||ih i^�@*�|) �4T*�it |L}i|�ih ��|� i^�@|�L? Eb�

f ' K��2��

2K ' K�EP� @@��K

5�?Ui P � @@� �t t)44i|h�Uc |��t �t i^���@*i?| |L EP � @@��K ' f� �L|ic |�@| |�ihi

�t �?�^�i L?i�_�4i?t�L?@* t�MtT@Ui Lu �iU|Lht K t@|�tu)�?} EP � @@��K ' fc t�?Ui P

�t @tt�4i_ |L Mi hi}�*@h� �*tLc MiU@�ti P �t hi}�*@hc @�K 9' f uLh @?) K 9' f ���U�

t@|�t�it |��t i^�@|�L?� A��tc |�ihi �t @ �?�^�i Kc ���U� @*tL t@|�t�it K�@ ' �� �

`�|� �E@� �| �t ?L� u�h|�ih4Lhi U*i@hc |�@| |�i T@h| Lu � ���U� �t @||h�M�|@M*i |L

|�i t�LU! ThLTLh|�L?@* |L |�i �4T�*ti �iU|Lh @ �t }��i? M) �E@�@�

� ,t|�4@|�L? @?_ W?uihi?Ui

6Lh UL?�i?�i?Uic W UL**iU| �ihi |�i 4@�? |LL*t uLh it|�4@|�L? @?_ �?uihi?Uic tii @*tL

N�*�} E�bbH�� W �ti @ �@)it�@? @TThL@U� t�?Ui �| �t UL4T�|@|�L?@**) t�4T*i @?_ t�?Ui

�| @**L�t uLh @ UL?UiT|�@**) U*i@? �@) Lu _h@��?} ihhLh M@?_t uLh t|@|�t|�Ut Lu �?|ihit|

t�U� @t �4T�*ti hitTL?titc tii 5�4t @?_ ~�@ E�bbD� uLh @ U*i@h _�tU�tt�L? L? |��t

TL�?|� �L|i |�@| _h@�t uhL4 |�i TLt|ih�Lh @hi RU@?_�_@|i |h�|�t�� A��tc �u i�}� |�i

|h�i �4T�*ti hitTL?ti uLh Th�Uit t�L�*_ ?L| ��L*@|i |�i �4TLti_ t�}? hit|h�U|�L?c |�i?

|��t t�L�*_ @*tL *�|ih@**) Mi |h�i uLh @?) _h@� uhL4 |�i TLt|ih�Lh� A��t i�}� |�i

RTh�Ui T�33*i� �? �}�hi e �t @ ��L*@|�L? M) RU@?_�_@|i |h�|�t�c @?_ �Lhh�tL4i� `�|�

@ U*@tt�U@* @TThL@U�c M) UL?|h@t|c UL?t�_ih@|�L?t Lu t�}?��U@?Ui �L�*_ i?|ihG @ ��L*@�

|�L? 4@) Mi UL?t�_ihi_ @_4�tt@M*i �u �?t�}?��U@?|c hi^��h�?} u�h|�ih ��_}i4i?|� ��|

_�gihi?|*)c @ �@)it�@? @TThL@U� �t 4Lhi UL?�i?�i?| @?_ U*i@?ih |L ��t|�u)� A�i hi@_ih

��L h@|�ih ��t�it |L T�ht�i @ U*@tt�U@* @TThL@U� @?_ �?uihi?Ui hi}@h_�?} �4T�*ti

hitTL?ti u�?U|�L?t �? �iU|Lh @�|Lhi}hitt�L?t �t hiuihhi_ |L |�i �Lh! M) ��||?�! @?_

~@_hL3?) E�bb�� @t �i** @t k�*�@? E�bbS@cMcU��

Nt�?} 4L?|�*) _@|@c W � i_ |�i ?�4Mih Lu *@}t @| , ' �2 @t �? �ih?@?!i @?_

���L� E�bbS@c�bbSM�� 5|@U! |�i t)t|i4 E�� @t

v ' j�n � E�f�

��ihif| ' dt �|3�c t�

|32c � � � c t�

|3,o�cv ' dt�c � � � c tA o�cj ' df�c � � � cfA o�c � ' d��c � � � c �A o�

@?_ � ' d�E��c � � � c �E,�o�� AL UL4T�|i |�i �4T�*ti hitTL?ti |L @? �4T�*ti �iU|Lh @c

*i| @ ' d@�c f�c6E,3��o� @t �i** @t

K '

%�

U6E,3�� f6E,3��c6

&

2�

Page 26: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

@?_ UL4T�|i o&c� ' EK&@�� c & ' fc�c 2c � � � |L }i| |�i hitTL?ti Lu �@h�@M*i � @| �Lh�3L?

&� A�i �@h�@?Ui Lu |�i !�t|iT @�i@_ uLhiU@t| ihhLh _�i |L @? �4T�*ti �iU|Lh @ �t

LM|@�?i_ M) t�4T*) t^�@h�?} �|t �4T�*ti hitTL?tit� 5�44�?} @}@�? L�ih @** @�c ��ihi

@� �t |�i ��|� UL*�4? Lu tL4i 4@|h� � ��|� ��� ' P _i*��iht |�i |L|@* �@h�@?Ui Lu

|�i !�t|iT @�i@_ uLhiU@t| ihhLh�

W @tt�4i |�@| |�i �|<t @hi �?_iTi?_i?| @?_ ?Lh4@**) _�t|h�M�|i_� A�i �w, uLh

E�cP� �t }��i? M)

� ' Ej�j�3�j�vc P '�

AEv �j ���Ev �j �� E���

��h Th�Lh @?_ TLt|ih�Lh uLh E�cP� Mi*L?}t |L |�i �Lh4@*�`�t�@h| u@4�*)c ��Lti

ThLTih|�it @hi u�h|�ih _�tU�tti_ �? N�*�} E�bbe�� � ThLTih �Lh4@*�`�t�@h| _�t|h��

M�|�L? �t T@h@4i|ih�3i_ M) @ R4i@? ULi�U�i?|� 4@|h� 7� Lu t�3i & � 6c @ TLt�|��i

_i�?�|i R4i@? UL�@h�@?Ui� 4@|h� 7 Lu t�3i 6�6 @t �i** @t @ TLt�|��i _i�?�|i 4@�

|h� � Lu t�3i , � , @?_ @ R_i}hiit Lu uhii_L4� hi@* ?�4Mih D � f |L _itUh�Mi |�i

�?Uih|@�?|) @ML�| E�cP� @hL�?_ E 7�c7�� A�i �Lh4@*�`�t�@h| _�t|h�M�|�L? tTiU��itc

|�@| P3� uL**L�t @ `�t�@h| _�t|h�M�|�L? Z6E73�*Dc D� ��|� .dP3�o ' 73�c @?_ |�@|c

UL?_�|�L?@**) L? Pc |�i ULi�U�i?| 4@|h� �? �|t UL*�4?��ti �iU|Lh�3i_ uLh4c �iUE��

uL**L�t @ �Lh4@* _�t|h�M�|�L? Q E�iUE 7��cP �3��� AL _h@� uhL4 |�i `�t�@h| _�t|h��

M�|�L? Z6E73�*Dc D�c �ti i�}� P ' E- �-��3�c ��ihi - �t @ 6� D 4@|h� ��|� i@U�

UL*�4? @? �?_iTi?_i?| _h@� uhL4 @ �Lh4@* _�t|h�M�|�L? Q Efc 73�*D� ��|� 4i@? 3ihL

@?_ �@h�@?Ui�UL�@h�@?Ui 4@|h� 73��

�hLTLt�|�L? � L? T� S.f �? N�*�} E�bbe� t|@|itc |�@| �u |�i Th�Lh �t _itUh�Mi_ M)7�fc �fc 7f @?_ Dfc |�i? |�i TLt|ih�Lh �t _ith�Mi_ M) 7�A c �A c 7A @?_ DA c ��ihi

DA ' A n Df

�A ' �f nj�j

7�A ' �3�A E�f

7�f nj�j ��

7A 'DfDA

7f nA

DAP n

DAE � � 7�f�

��f�3�A j�jE � � 7�f�

W �ti @ R�i@!� Th�Lhc @?_ �ti �f ' fc Df ' fc 7f @?_ 7�f @hM�|h@h)� A�i?c 7�A ' �c

7A ' Pc DA ' A c �A ' j�jc ���U� �t @*tL |�i uLh4 Lu |�i TLt|ih�Lh �ti_ �? |�i

+�A5 4@?�@* uLh _h@��?} ihhLh M@?_tc tii i @4T*i �f�� �? #L@? E�bb2��

�L @||i4T| �@t Mii? 4@_i |L �4TLti 4Lhi tTiU��U Th�Lh !?L�*i_}i t�U� @t |�i

R?L U�@?}i uLhiU@t|� Lu |�i ��??itL|@ Th�Lhc tii #L@?c w�||ih4@? @?_ 5�4t E�bHe�c

tTiU�@* |hi@|4i?|t Lu hLL|t ?i@h �?�|)c tii |�i _�tU�tt�L? �? 5�4t @?_ N�*�} E�bb��

@t �i** @t N�*�} E�bbe�c Lh |L �4TLti |�i 4Lhi tLT��t|�U@|i_ Th�Lht Lu wiiTihc 5�4t

@?_ ~�@ E�bbS� Lh 5�4t @?_ ~�@ E�bbS�� �*tLc W �@�i ?L| i Tih�4i?|i_ ��|� hi}�4i�

t��|U��?} @t �? �ih?@?!i @?_ ���L� E�bbS@cM� Lh ��|� t|LU�@t|�U �L*@|�*�|) @t �?

N�*�} E�bb.��

2e

Page 27: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

��� A�i T�hi�t�}?�hit|h�U|�L? @TThL@U�

AL _h@� �?uihi?Uit uhL4 |�i TLt|ih�Lh uLh |�i T�hi�t�}?�hit|h�U|�L? @TThL@U�c W |@!i

?� _h@�t uhL4 |�i V�+ TLt|ih�Lh @?_c uLh i@U� Lu |�iti _h@�t ?2 _h@�t k uhL4 |�i

6�_�4i?t�L?@* �?�| tT�ihi� � _h@� k uhL4 |�i 6�_�4i?t�L?@* �?�| tT�ihi �t i@t�*)

LM|@�?i_ M) _h@��?} �k uhL4 |�i 4�_�4i?t�L?@* t|@?_@h_ ?Lh4@* _�t|h�M�|�L?c @?_

|�i? ?Lh4@*�3�?} �|t *i?}|� |L �?�|)c k ' �k* mm �k mm� 6hL4 P @?_ kc W UL?t|h�U|

|�i �4T�*ti �iU|Lhc �t�?} |�i U�@h@U|ih�3@|�L? E�� Lhc @*|ih?@|��i*)c tL4i L|�ih U�@h�

@U|ih�3@|�L? �? ThLTLt�|�L? �� W| t�L�*_ Mi ?L|i_ |�@| @** _iUL4TLt�|�L?t P ' �� ���

|L}i|�ih ��|� @ �?�uLh4 Th�Lh uLh k �? |�i uLh|� T@h| Lu |�@| ThLTLt�|�L? hit�*| �?

|�i t@4i Th�Lh L? |�i �4T�*ti �iU|Lht @c MiU@�ti |�L _�gihi?| _iUL4TLt�|�L?t _�gih

M) @? Lh|�L}L?@* hL|@|�L? 'c tii i^�@|�L? EH�� A�ihiuLhic U�@?}�?} |L @ _�gihi?|

_iUL4TLt�|�L? �t i^���@*i?| |L hL|@|�?} |�i _�t|h�M�|�L? uLh k ��|� |�i @TThLTh�@|i

'� 5�?Ui @? Lh|�L}L?@* hL|@|�L? Lu @ �?�uLh4 _�t|h�M�|�L? L? |�i �?�| tT�ihi ��**

*i@�i |�@| _�t|h�M�|�L? �?U�@?}i_c |�ihi �t ?L U�@?}i �? |�i �4T*�i_ Th�Lh L? �4T�*ti

�iU|Lht�

6Lh i@U� _h@�c W U@*U�*@|i |�i �4T�*ti hitTL?titc @?_ U�iU!c ��i|�ih |�i t�}?

hit|h�U|�L?t @hi t@|�t�i_� Wu |�i) @hic W !iiT |�i _h@�� Wu ?L|c W ThLUii_ |L |�i ?i |�

6�?@**)c ihhLh M@?_t i|U� @hi U@*U�*@|i_c �t�?} @** |�i _h@�t ���U� �@�i Mii? !iT|� 6Lh

|�i U@*U�*@|�L?tc W �@�i U�Lti? ?� ' ?2 @?_ ��}� i?L�}�c tL |�@| @ UL�T*i Lu ��?_hi_

�L�?| _h@�t t@|�t�i_ |�i t�}? hit|h�U|�L?� ,�}� uLh |�i t� |� 4L?|�t hit|h�U|�L? Eg ' D�c

W �ti_ ?� ' ?2 ' 2ff�

��2 A�i Ti?@*|)�u�?U|�L? @TThL@U�

AL _h@� �?uihi?Ui uhL4 |�i TLt|ih�Lh uLh |�i Ti?@*|) u�?U|�L? @TThL@U�c W |@!i ?

_h@�t uhL4 �|c i4T*L)�?} @ �L?|i��@h*L 4i|�L_G MiU@�ti LT|�4�3�?} L�ih |�i t�@Ti

Lu |�i �4T�*ti hitTL?tit �t |�4i�UL?t�4�?}c W �t�@**) |LL! ? ' �ff� 6Lh i@U� Lu |�iti

_h@�tc W U@*U�*@|i |�i �4T�*ti hitTL?tit @?_ |�i �@h�@?Ui _iUL4TLt�|�L? @?_ UL**iU|

|�i4� A��tc @u|ih �ff _h@�tc W �@�i �ff _h@�t uLh i@U� TL�?| L? @? �4T�*ti hitTL?ti

u�?U|�L? W 4@) ��t� |L it|�4@|iG �| �t ?L� i@t) |L U@*U�*@|i |�i�h 4i_�@? @?_ |�i�h

SHI ihhLh M@?_�

AL _L |�i ?�4ih�U@* 4�?�4�3@|�L? Lu |�i Uh�|ih�L? u�?U|�L? [ uLh i@U� _h@� uhL4

|�i TLt|ih�Lhc W ?ii_i_ |L T@h@4i|ih�3i |�i tT@Ui Lu �iU|Lht Ek��S�'� Lu �?�| *i?}|�G W

2D

Page 28: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

uL�?_ |�i T@h@4i|ih�3@|�L?

k '

599999999997

ULtE��� ULtE�2� ULtE���

ULtE��� ULtE�2� t�?E���

ULtE��� t�?E�2�

t�?E��� ULtE�e� ULtE�D�

t�?E��� ULtE�e� t�?E�D�

t�?E��� t�?E�e�

6::::::::::8c E���

D�'� 5 W+D

T@h|�U�*@h*) UL?�i?�i?|� W �@�i UL_i_ @** 4) hL�|�?it �? ��Aw��c @?_ �ti_ �|t }i?�

ih@* T�hTLti 4�?�4�3ih u4�?t�4 |L TihuLh4 |�i 4�?�4�3@|�L? |@t! ?�4ih�U@**)� W|

|�h?i_ L�| |�@| u4�?t tL4i|�4it t|LTTi_ |�i ti@hU� MiuLhi UL?�ih}�?} |L |�i LT|�4@*

tL*�|�L?G W |��t TihuLh4i_ u4�?t�4 |�hii |�4it �? @ hL�c t|@h|�?} �| �ht| @| @ h@?�

_L4*) ti*iU|i_ E���D�'� 5 W+D @?_ |�i? t|@h|�?} �| t�UUitt��i*) @| |�i Thi��L�t*) uL�?_

LT|�4�4� �L�c |�i 4�?�4�3@|�L? tii4i_ |L 4�tt |�i 4�?�4�4 �? t@ui*) *itt |�@? D

TihUi?| Lu @** U@tit� AL @U��i�i ?i@h�Uih|@�? UL?�ih}i?Uic W _�_ |��t ThLUi_�hi |��Uic

t|@h|�?} �| uhL4 |�L _�gihi?| �?�|�@* h@?_L4 �iU|Lht E���D�'� 5 W+Dc @?_ ti*iU|�?} |�i

Mit| Lu |�i |�L 4�?�4@t uL�?_� A�@| �@)c |�i U�@?Ui Lu 4�tt�?} |�i LT|�4�4 �@t

t@ui*) Mi*L� f�� TihUi?|� AL U@*U�*@|i |��t uLh @ t�?}*i _h@� uhL4 |�i TLt|ih�Lh |LL!

@hL�?_ uL�h 4�?�|it L? @ �i?|��4�M@ti_ 4@U��?i� W �ti_ @ t@4T*i Lu �ff _h@�t uhL4

|�i TLt|ih�Lh uLh �?uihi?Ui�

2S

Page 29: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

+iuihi?Uit

d�o �ih?@?!ic �i? 5� E�bHS�c R�*|ih?@|��i , T*@?@|�L?t Lu |�i �L?i)�W?UL4i �Lhhi�

*@|�L?c� �? k� �h�??ih @?_ �� �i*|3ihc i_t�c +i@* ��t�?itt �)U*itc +i@* , U�@?}i

+@|itc @?_ �U|�@* �L*�U�itc �@h?i}�i�+LU�it|ih �L?uihi?Ui 5ih�it L? ��M*�U �L*�

�U)c ?L� 2Dc �4t|ih_@4c �Lh|��OL**@?_�

d2o �ih?@?!ic �i? 5� @?_ �*@? 5� �*�?_ih E�bb2�c RA�i 6i_ih@* 6�?_t +@|i @?_ |�i

��@??i*t Lu �L?i|@h) Ah@?t4�tt�L?c� �4ih�U@? ,UL?L4�U +i��i�c �L*�H2c ?L�

ec bf��b2��

d�o �ih?@?!ic �i? 5�c R#�tU�tt�L? Lu �`�@| #Lit �L?i|@h) �L*�U) #Lq< M) ,� ��

wiiTihc ���� 5�4t @?_ A� ~�@c� �hLL!�?}t �@Tiht L? ,UL?L4�U �U|���|)c tih�it

2c �bbSc Sb�.��

deo �ih?@?!ic �i? 5� @?_ W*�@? ���L� E�bbS@�c R�i@t�h�?} �L?i|@h) �L*�U)c� ��,+

�Lh!�?} T@Tih ?L� D�eDc a�?i �bbDc �T_@|i_ @t W�5,�# #�tU�tt�L? �@Tih

bS%.e%,�5%6W�c �bbS�

dDo �ih?@?!ic �i? 5� @?_ W*�@? ���L� E�bbSM�c RA�i w�^��_�|) ,giU| @?_ wL?}�

h�? �i�|h@*�|)G W_i?|��U@|�L? M) W?i^�@*�|) �L?t|h@�?|tc� _h@u|c W�5,�# @?_

�h�?Ui|L?c �bbS�

dSo �*@?U�@h_c �*���ih @?_ �@h! @|tL? E�bHS�c R�hi �** ��t�?itt �)U*it �*�!iq� �?

+�a� BLh_L?c i_�c A�i �4ih�U@? ��t�?itt �)U*ic ���U@}LG N?��iht�|) Lu ���U@}L

�hittc �2���Sf�

d.o �*@?U�@h_c �*���ih a� @?_ #@??) "�@� E�bHb�c RA�i #)?@4�U ,giU|t Lu �}}hi�

}@|i #i4@?_ @?_ 5�TT*) #�t|�hM@?Uitc� �4ih�U@? ,UL?L4�U +i��i�c �L*� .bc

5iT|i4Mih �bHbc SDD�S.��

dHo �*�?_ihc �*@? 5� E�bbe�c R�? 5|�U!) �h�UitG �U@_i4�U A�iLh�it �ii| |�i +i@*

Lh*_c� �? �� Bhi}Lh) �@?!��c i_�c �L?i|@h) �L*�U)c ��,+c 5|�_�it �? ��t�?itt

�)U*itc VL*� 2bc N?��iht�|) Lu ���U@}L �hittc ���U@}Lc ��.��De�

dbo �LtU�i?c aL�? @?_ wiL?@h_ ��**t E�bb��c RA�i ,giU|t Lu �L�?|ihU)U*�U@* �L*�U)

L? �L?i) @?_ W?|ihit| +@|itG �? ,�@*�@|�L? Lu ,��_i?Ui uhL4 6��� _LU��

4i?|tc� Lh!�?} �@Tih b��2fc 6i_ih@* +itih�i �@?! Lu ���*@_i*T��@�

d�fo �L��i?tc w� @?_ �� w�Mh@?L E�bbS�c RW_i?|�uU@|�L? +it|h�U|�L?t @?_ �Lt|ih�Lh

#i?t�|�it �? �L�?|i}h@|i_ B@�tt�@? V�+ 5)t|i4tc� �? A��� 6L4M) Ei_��c �_�

�@?Uit �? ,UL?L4i|h�Utc �L*� ���c a�W �hittc Bhii?��U�c �A�

2.

Page 30: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

d��o �@?L�@c 6@M�L E�bbD�c RV�+G 5TiU��U@|�L?c ,t|�4@|�L?c Ait|�?} @?_ 6LhiU@t|�

�?}c� �? �it@h@?c O� @?_ �� `�U!i?tc i_t�c O@?_MLL! Lu �TT*�i_ ,UL?L4i|h�Utc

���SD�

d�2o ��h�t|�@?Lc w@�hi?Ui @?_ �@h|�? ,�U�i?M@�4 E�bb2@�c Rw�^��_�|) ,giU|t @?_

|�i �L?i|@h) Ah@?t4�tt�L? �iU�@?�t4c� �4ih�U@? ,UL?L4�U +i��i�c �L*� H2c

?L� 2c �eS��D��

d��o ��h�t|�@?Lc w@�hi?Ui @?_ �@h|�? ,�U�i?M@�4 E�bb2M�c RW_i?|��U@|�L? @?_ |�i

w�^��_�|) ,giU| Lu @ �L?i|@h) �L*�U) 5�LU!c� �? �� ��!�ih4@?c ~� OihUL��|3 @?_

w wi�_ih4@?c i_t�c �L*�|�U@* ,UL?L4)c BhL�|� @?_ ��t�?itt �)U*itc �@4Mh�_}i

��c �WA �hittc

d�eo ��h�t|�@?Lc w@�hi?Uic �@h|�? ,�U�i?M@�4 @?_ ��@h*it ,�@?t E�bbe�c RW_i?|��

�U@|�L? @?_ |�i ,giU|t Lu �L?i|@h) �L*�U) 5�LU!tc� Lh!�?} �@Tih `��be�.c

6i_ih@* +itih�i �@?! Lu ���U@}Lc �@)�

d�Do ��h�t|�@?Lc w@�hi?Uic �@h|�? ,�U�i?M@�4 @?_ ��@h*it ,�@?t E�bbS@�c RA�i

,giU|t Lu �L?i|@h) �L*�U) 5�LU!tG 5L4i ,��_i?Ui uhL4 |�i 6*L� Lu 6�?_tc�

+i��i� Lu ,UL?L4�Ut @?_ 5|@|�t|�Utc 6iMh�@h) �bbSc �L*� .Hc �S��e�

d�So ��h�t|�@?Lc w@�hi?Uic �@h|�? ,�U�i?M@�4 @?_ ��@h*it ,�@?t E�bbSM�c R�L_�

i**�?} �L?i)c� �?T�M*�t�i_c �Lh|��it|ih? N?��iht�|)�

d�.o ��h�t|�@?Lc w@�hi?Uic �@h|�? ,�U�i?M@�4 @?_ ��@h*it ,�@?t E�bbSU�c R5|�U!)

�h�Ui @?_ w�4�|i_ �@h|�U�T@|�L? �L_i*t Lu �L?i)G � �L4T@h�tL?c� 6i_ih@*

+itih�i �@?! Lu ���U@}Lc Lh!�?} �@Tih `��bS�2Hc #iUi4Mih �bbSc ,�hLTi@?

,UL?L4�U +i��i�c uLh|�UL4�?}�

d�Ho ��h�t|�@?Lc w@�hi?Uic �@h|�? ,�U�i?M@�4 @?_ ��@h*it ,�@?t E�bb.�c R�L?i|@h)

�L*�U) 5�LU!tG `�@| O@�i W wi@h?i_ @?_ |L `�@| ,?_q� 6i_ih@* +itih�i �@?!

Lu ���U@}L Lh!�?} �@Tih `��b.��H�

d�bo �LU�h@?ic aL�? E�bbe�c R5�LU!tc� �? �**@? �i*|3ih @?_ ��@h*it �*Lttihc i_t�c

�@h?i}�i�+LU�it|ih �L?uihi?Ui 5ih�it L? ��M*�U �L*�U) e� E#iUi4Mih�c �4t|ih�

_@4c �Lh|��OL**@?_c 2bD��Se�

d2fo #L@?c A�L4@t ��c +� w�||ih4@? @?_ ��h�t|LT�ih �� 5�4t E�bHe�c R6LhiU@t|�?}

@?_ �L?_�|�L?@* �hL�iU|�L? �t�?} +i@*�t|�U �h�Lh #�t|h�M�|�L?tc� ,UL?L4i|h�U

+i��i�tc �c ���ff�

d2�o #L@?c A�L4@t �� E�bb2�c +�A5 Ntih<t �@?�@*c Viht�L? ec ,t|�4@c �Hff 5�ih�

4@? ��i�c 5��|i S�2c ,�@?t|L?c Ww Sf2f�

2H

Page 31: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

d22o #�)ihc �@h! E�bb.�c R#)?@4�U +itTL?ti �h�Lht uLh #�tUh�4�?@|�?} 5|h�U|�h@*

ViU|Lh ��|Lhi}hitt�L?tc� _h@u|c N�w��

d2�o ,�U�i?M@�4c �@h|�? E�bb2�c R �L44i?|t L? �W?|ihThi|�?} |�i 4@UhLiUL?L4�U

|�4i tih�it u@U|tG A�i igiU|t Lu 4L?i|@h) TL*�U)< M) ��h�t|LT�ih 5�4t�c ,�hLTi@?

,UL?L4�U +i��i�c �L*� �Sc ?L� Dc a�?i �bb2c �ff���f���

d2eo 6@�t|c aL? E�bbH�c RA�i hLM�t|?itt Lu �_i?|��i_ V�+ UL?U*�t�L?t @ML�| 4L?i)c�

�@h?i}�i�+LU�it|ih �L?uihi?Ui 5ih�it �? ��M*�U �L*�U)c �L*� ebc 2f.�2ee�

d2Do 6h�i_4@?c �� E�bSH�c RA�i +L*i Lu �L?i|@h) �L*�U)c� �4ih�U@? ,UL?L4�U +i�

��i�c �L*� DHc ���.�

d2So B@*�c aLh_� E�bb2�c ROL� �i** _Lit |�i W5�w� 4L_i* �| TLt|�@h N�5� _@|@q�

"�@h|ih*) aL�h?@* Lu ,UL?L4�Utc �@) �bb2c .fb�.�H�

d2.o Bi�i!ic aL�? E�bbS�c R�@)it�@? +i_�Ui_ +@?! +i}hitt�L? �? ,UL?L4i|h�Utc�

aL�h?@* Lu ,UL?L4i|h�Utc .Dc �2.��eS�

d2Ho Bh�**�c V� @?_ �Lh�i* +L�M�?� E�bbS�c Rw�^��_�|) 4L_i*t �? LTi? iUL?L4�itG A�i�

Lh) @?_ i4T�h�U@* i��_i?Uic� ,�hLTi@? ,UL?L4�U +i��i�c �L*� efc He.�HDb�

d2bo BLh_L?c #@��_ �� @?_ ,h�U �� wiiTih E�bbe�c RA�i #)?@4�U W4T@U|t Lu �L?i�

|@h) �L*�U)G �? , ihU�ti �? Ai?|@|��i W_i?|��U@|�L?c� aL�h?@* Lu �L*�|�U@* ,UL?�

L4)c �L*� �f2c ?L� Sc �22H��2e.�

d�fo k�*�@?c w�|3c �bbS@c RW4T�*ti +itTL?ti �?@*)t�t �? ViU|Lh ��|Lhi}hitt�L?t ��|�

N?!?L�? w@} �h_ihc� �?T�M*�t�i_�

d��o k�*�@?c w�|3c �bbSMc R�? ,?_L}i?L�t w@} �h_ih �LL|t|h@T �*}Lh�|�4 ��|� @?

�TT*�U@|�L? |L W4T�*ti +itTL?ti �?@*)t�tc� �?T�M*�t�i_�

d�2o k�*�@?c w�|3c �bbSUc RW4T�*ti +itTL?ti W?|ih�@*t �?_ih #iT@h|�hit uhL4 �Lh�

4@*�|)c� �?T�M*�t�i_�

d��o k�4c 5L)L�?} E�bbS�c R#Lit �L?i|@h) �L*�U) �@||ih �? |�i B�S �L�?|h�itq Nt�

�?} �L44L? W_i?|�u)�?} �tt�4T|�L?t @ML�| �L?i|@h) �L*�U) @UhLtt �L�?|h�itc�

�?T�M*�t�i_c v@*i N?��iht�|) @?_ ,t|�_�Lt ,UL?L4�ULtc �@?UL _i ,tT@?@�

d�eo k*i�Mih}i?c 6� @?_ O�k� �@? #��! E�bbe�c R�? |�i 5�@Ti Lu |�i w�!i*��LL_ %

�Lt|ih�Lh �? �L�?|i}h@|�L? �L_i*tc� ,UL?L4i|h�U A�iLh) �fc D�e�DD��

d�Do wi@4ihc ,_�@h_ ,� E�bH��c Rwi|<t |@!i |�i �L? L�| Lu ,UL?L4i|h�Utc� �4ih�U@?

,UL?L4�U +i��i�c �L*� .�c ���e��

2b

Page 32: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

d�So wi@4ihc ,_�@h_ ,�c E�b.H�c 5TiU��U@|�L? 5i@hU�itc aL�? `�*i) : 5L?tc �i�

vLh!�

d�.o wiiTihc ,h�U �� @?_ #@��_ �� BLh_L? E�bb2�c RW? 5i@hU� Lu |�i w�^��_�|) ,giU|c�

aL�h?@* Lu �L?i|@h) ,UL?L4�Utc �L*� 2bc ?L� �c �e���Sb�

d�Ho wiiTihc ,h�U� �� @?_ ��h�t|LT�ih �� 5�4t E�bbe�c RAL�@h_ @ �L_ih? �@UhL

�L_i* Nt@M*i uLh �L*�U) �?@*)t�tc� �? 6�t�ih 5|@?*i) @?_ a�*�L a� +L|i4Mih}c

i_t�c ��,+ �@UhLiUL?L4�U �??�@* �bbec �@4Mh�_}ic ��c �WA �hittc H����.�

d�bo wiiTihc ,h�U ��c ��h�t|LT�ih �� 5�4t @?_ A@L ~�@ E�bbS�c R`�@| _Lit �L?i|@h)

�L*�U) #Lq� �hLL!�?}t �@Tiht L? ,UL?L4�U �U|���|)c tih�it 2c �bbSc ��S��

defo w�TT�c �@hUL @?_ w�Uhi3�@ +i�U�*�? E�bbe@�cR#�g�t�L? Lu AiU�?�U@* ��@?}i @?_

|�i #iUL4TLt�|�L? Lu ��|T�| �?|L Ahi?_ @?_ �)U*ic� +i��i� Lu ,UL?L4�U 5|�_�

�itc �L*� S� E��c ?L� 2fSc a@?� �bbec �b��f�

de�o w�TT�c �@hUL @?_ w�Uhi3�@ +i�U�*�? E�bbeM�cR�L44L? @?_ �?UL44L? |hi?_t

@?_ U)U*itc� ,�hLTi@? ,UL?L4�U +i��i�c �L*� �Hc ?L� �%ec �Th�* �bbec S2e�S�D�

de2o w�U@tc +LMih| ,�c ah�c R,UL?L4i|h�U �L*�U) ,�@*�@|�L?G � �h�|�^�i�c aL�h?@* Lu

�L?i|@h) ,UL?L4�Ut( �E2�c 5�TT*i4i?|@h) 5ih�it �b.Sc T@}it �b�eS�

de�o �@__@*@c B�5� @?_ W?��LL k�4 E�bbH�c N?�| +LL|tc �L�?|i}h@|�L? @?_ 5|h�U|�h@*

��@?}ic �@4Mh�_}i N?��iht�|) �hittc �@4Mh�_}ic Nk�

deeo ��||?�!c 5|iu@? @?_ �i|ih ~@_hL3?)c E�bb�� R�t)4T|L|�U #�t|h�M�|�L?t Lu W4�

T�*ti +itTL?titc 5|iT +itTL?tit @?_ V@h�@?Ui #iUL4TLt�|�L?t Lu ,t|�4@|i_

w�?i@h #)?@4�U �L_i*tc� ,UL?L4i|h�U@c �L*� S�c ?L� ec a�*) �bb�c HD.�H.f�

deDo +L4ihc ��h�t|�?@ #� @?_ #@��_ O� +L4ih E�bHb�c R#Lit �L?i|@h) �L*�U) �@|�

|ihq � �i� Ait| �? |�i 5T�h�| Lu 6h�i_4@? @?_ 5U��@h|3c� �? �*��ih ai@?

�*@?U�@h_ @?_ 5|@?*i) 6�tU�ihc i_t�c ��,+ 4@UhLiUL?L4�Ut @??�@* �bHbc �@4�

Mh�_}ic ��c �WA �hittc �2��.f�

deSo +L4ihc ��h�t|�?@ #� @?_ #@��_ O� +L4ih E�bbf�c R�i� ,��_i?Ui L? |�i �L?�

i|@h) Ah@?t4�tt�L? �iU�@?�t4c� �hLL!�?}t �@Tiht L? ,UL?L4�U �U|���|)( fE��c

�bbfc T@}it �eb�bH�

de.o +L|i4Mih}c a�*�L a� E�bbe�c R5�LU!tG � UL44i?|c� �@h?i}�i�+LU�it|ih �L?uih�

i?Ui 5ih�it L? ��M*�U �L*�U) e�c �SD��.��

deHo 5�4tc ��h�t|LT�ih �� E�b.2�c R�L?i)c W?UL4i @?_ �@�t@*�|)c� �4ih�U@? ,UL�

?L4�U +i��i�c 5iT|i4Mih �b.2�

�f

Page 33: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

debo 5�4tc ��h�t|LT�ih �� E�bHf�c R�@UhLiUL?L4�Ut @?_ +i@*�|)c� ,UL?L4i|h�U@c �L*�

eHc ��eH�

dDfo 5�4tc ��h�t|LT�ih �� E�bHS�c R�hi 6LhiU@t|�?} �L_i*t Nt@M*i uLh �L*�U) �?@*)�

t�tc� ��??i@TL*�t 6i_ih@* +itih�i �@?! "�@h|ih*) +i��i�c `�?|ih �bHSc 2��S�

dD�o 5�4tc ��h�t|LT�ih �� @?_ O@h@*_ N�*�} E�bb��c RN?_iht|@?_�?} �?�| hLL|ihtG @

�i*�ULT|ih |L�hc� ,UL?L4i|h�U@c �L*� Dbc �Db���Sff�

dD2o 5�4tc ��h�t|LT�ih �� E�bb2�c RW?|ihThi|�?} |�i �@UhLiUL?L4�U A�4i 5ih�it

6@U|tG A�i ,giU|t Lu �L?i|@h) �L*�U)c� ,�hLTi@? ,UL?L4�U +i��i�c �L*� �Sc

�bb2c b.D��f���

dD�o 5�4tc ��h�t|LT�ih �� @?_ A@L ~�@ E�bbD�c R,hhLh �@?_t uLh W4T�*ti +itTL?titc�

6i_ih@* +itih�i �@?! Lu �|*@?|@ `Lh!�?} �@Tih ?L� S�

dDeo 5�4tc ��h�t|LT�ih �� @?_ A@L ~�@ E�bbS�c R�@)it�@? �i|�L_t uLh #)?@4�U ��*�

|��@h�@|i �L_i*tc� _h@u|c 6i_ih@* +itih�i �@?! Lu �|*@?|@�

dDDo 5|hL?}�?c 5|i�i? E�bbD�c RA�i W_i?|��U@|�L? Lu �L?i|@h) �L*�U) #�t|�hM@?UitG

, T*@�?�?} |�i w�^��_�|) ��33*ic� aL�h?@* Lu �L?i|@h) ,UL?L4�Ut �DE��c eS��eb.

dDSo N�*�}c O@h@*_ E�bbe�c R`�@| 4@UhLiUL?L4�t|t t�L�*_ !?L� @ML�| �?�| hLL|tG @

�@)it�@? TihtTiU|��ic� ,UL?L4i|h�U A�iLh)c �L*� �fc �bbec SeD�S.��

dD.o N�*�}c O@h@*_ E�bb.�c R�@)it�@? �iU|Lh @�|Lhi}hitt�L?t ��|� t|LU�@t|�U �L*@|�*�

�|)c� ,UL?L4i|h�U@c �L*� SDc ?L��c a@?�@h) �bb.c Db�.��

dDHo N�*�}c O@h@*_ E�bbH�c RA�i hLM�t|?itt Lu �_i?|��i_ V�+ UL?U*�t�L?t @ML�|

4L?i)� � �L44i?|�� �@h?i}�i�+LU�it|ih 5ih�it �? ��M*�U ,UL?L4�Utc �L*� ebc

2eD�2S��

dDbo LL_uLh_c ��U�@i* E�bbe�c R�L?t|@?_@h_ W?_�U@|Lht uLh �L?i|@h) �L*�U)G �@?

A�i�h Ntiu�*?itt �i a�_}i_ uhL4 6LhiU@t|�?} +i}hitt�L?tq� �? �� Bhi}Lh)

�@?!��c i_�c �L?i|@h) �L*�U)c ��,+c 5|�_�it �? ��t�?itt �)U*itc VL*� 2bc N?��

�iht�|) Lu ���U@}L �hittc ���U@}Lc bD���D�

��

Page 34: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

6�}�hit

�2

Page 35: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 19950.0

2.5

5.0

7.5

10.0

12.5

15.0

17.5

20.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

6�}�hi �G A��t �}�hi UL?|h@t|t 4L�4i?|t �? |�i 6i_ih@* 6�?_t +@|ic t�L�? @t @

|��U!c tL*�_ *�?i ��|� |�i tU@*i L? |�i *iu|c ��|� hi@* B#� }hL�|� h@|itc t�L�? @t @

|��??ihc _L||i_ *�?i ��|� |�i tU@*i L? |�i h�}�|� AL @�_ |�i ��t�@* UL4T@h�tL?c |�i

hi@* B#� }hL�|� h@|it �@�i Mii? T�| R�Tt�_i _L�?�c ��i�c Ti@!t �? |�i �}�hi @hi

@U|�@**) T@h|�U�*@h*) *L� �@*�it uLh |�i }hL�|� h@|i� R,)iM@** iUL?L4i|h�Ut� t�}}it|t

@ t|hL?} U@�ti�@?_�igiU| uhL4 6i_ih@* 6�?_t +@|i 4L�i4i?|t |L hi@* B#�G ��i?i�ih

�?|ihit| h@|it h�tic }hL�|� h@|it u@** E��i� |�i _L||i_ *�?i h�tit� t�Lh|*) @u|ih�@h_t�

A��t �t T@h|�U�*@h*) ��t�M*i uLh �bSH |�hL�}� �bH�� W| tii4t i@t) |L UL?U*�_i uhL4 |��t

T�U|�hic |�@| |�i ^�it|�L? @ML�| |�i igiU|t Lu 4L?i|@h) TL*�U) L? L�|T�| �t @?t�ihi_

U*i@h*)G UL?|h@U|�L?@h) 4L?i|@h) TL*�U) *i@_t |L UL?|h@U|�L?t �? hi@* B#��

��

Page 36: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6K= 5:Range of imp. resp. for real GDP

years

Per

cent

0 1 2 3 4 5-1

-0.5

0

0.5

1

1.5K= 5:Range of imp. resp. for Total Reserves

years

Per

cent

0 1 2 3 4 5-0.8

-0.7

-0.6

-0.5

-0.4

-0.3

-0.2

-0.1

0

0.1K= 5:Range of imp. resp. for GDP price defl.

years

Per

cent

0 1 2 3 4 5-1.5

-1

-0.5

0

0.5

1

1.5K= 5:Range of imp. resp. for Nonborr. Reserv

years

Per

cent

0 1 2 3 4 5-3.5

-3

-2.5

-2

-1.5

-1

-0.5

0

0.5K= 5:Range of imp. resp. for Comm. price ind

years

Per

cent

0 1 2 3 4 5-0.4

-0.2

0

0.2

0.4

0.6

0.8

1K= 5:Range of imp. resp. for Fed. Funds Rate

years

Per

cent

6�}�hi 2G A��t �}�hi t�L�t |�i TLtt�M*i h@?}i Lu �4T�*ti hitTL?ti u�?U|�L?t ��i?

�4TLt�?} |�i t�}? hit|h�U|�L?t uLh g ' D @| |�i �w5, TL�?| it|�4@|i uLh |�i V�+�

�e

Page 37: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6K= 2:Range of imp. resp. for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6K=11:Range of imp. resp. for real GDP

years

Per

cent

0 1 2 3 4 5-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6K= 5:Range of imp. resp. for real GDP

years

Per

cent

0 1 2 3 4 5-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6K=23:Range of imp. resp. for real GDP

years

Per

cent

6�}�hi �G +@?}it uLh |�i �4T�*ti hitTL?ti Lu hi@* B#� |L @ UL?|h@U|�L?@h) 4L?i|@h)

TL*�U) t�LU! L?i t|@?_@h_ _i��@|�L? �? t�3i� �| |�i �w5, Lu |�i V�+c |�i UL**iU|�L?

Lu �4T�*ti hitTL?tit UL?t�t|i?| ��|� |�i t�}? hit|h�U|�L? UL�ih |�i h@?}i t�L�?� 6Lh

|�i *iu| UL*�4?c g ' 2 @?_ g ' D �@�i Mii? �ti_c ��ihi@t g ' �� @?_ g ' 2� �@�i

Mii? �ti_ �? |�i h�}�| UL*�4?�

�D

Page 38: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.5

-0.4

-0.3

-0.2

-0.1

0

0.1

0.2Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6Impulse response for Total Reserves

years

Per

cent

0 1 2 3 4 5-0.6

-0.5

-0.4

-0.3

-0.2

-0.1

0

0.1Impulse response for GDP price defl.

years

Per

cent

0 1 2 3 4 5-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6Impulse response for Nonborr. Reserv.

years

Per

cent

0 1 2 3 4 5-2

-1.5

-1

-0.5

0

0.5Impulse response for Comm. price ind.

years

Per

cent

0 1 2 3 4 5-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6Impulse response for Fed. Funds Rate

years

Per

cent

6�}�hi eG W4T�*ti hitTL?tit |L @ UL?|h@U|�L?@h) 4L?i|@h) TL*�U) t�LU! L?i t|@?_@h_

_i��@|�L? �? t�3ic �_i?|��i_ @t |�i �??L�@|�L? �? |�i 6i_ih@* 6�?_t +@|i Lh_ihi_ *@t| �?

@ ��L*it!) _iUL4TLt�|�L?� A��t RUL?�i?|�L?@*� �_i?|��U@|�L? i ihU�ti �t ThL��_i_ uLh

UL4T@h�tL?� A�i |�hii *�?it @hi |�i �SI ^�@?|�*ic |�i 4i_�@? @?_ |�i �SI ^�@?|�*i Lu

|�i TLt|ih�Lh _�t|h�M�|�L?� A�i �ht| UL*�4? t�L�t |�i hitTL?tit Lu hi@* B#�c |�i B#�

_i�@|Lh @?_ |�i UL44L_�|) Th�Ui �?_i � A�i tiUL?_ UL*�4? t�L�t |�i hitTL?tit Lu

|L|@* hitih�itc ?L?MLhhL�i_ hitih�itc @?_ |�i 6i_ih@* 6�?_t +@|i� A��t �_i?|��U@|�L?

4Lt|*) }i?ih@|it Rhi@tL?@M*i� hit�*|tc M�| @*tL |�i Th�Ui T�33*iG |�i B#� _i�@|Lh

h�tit �ht| MiuLhi u@**�?}�

�S

Page 39: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6

0.8

1Impulse response for Total Reserves

years

Per

cent

0 1 2 3 4 5-0.8

-0.7

-0.6

-0.5

-0.4

-0.3

-0.2

-0.1

0Impulse response for GDP price defl.

years

Per

cent

0 1 2 3 4 5-1

-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6

0.8

1Impulse response for Nonborr. Reserv.

years

Per

cent

0 1 2 3 4 5-3

-2.5

-2

-1.5

-1

-0.5

0Impulse response for Comm. price ind.

years

Per

cent

0 1 2 3 4 5-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for Fed. Funds Rate

years

Per

cent

6�}�hi DG W4T�*ti hitTL?tit |L @ UL?|h@U|�L?@h) 4L?i|@h) TL*�U) t�LU! L?i t|@?_@h_

_i��@|�L? �? t�3ic �t�?} |�i T�hi�t�}?�hit|h�U|�L? @TThL@U� ��|� g ' D� W�i�c |�i

hitTL?tit Lu |�i B#� Th�Ui _i�@|Lhc |�i UL44L_�|) Th�Ui �?_i @?_ ?L?MLhhL�i_

hitih�it �@�i Mii? hit|h�U|i_ ?L| |L Mi TLt�|��i @?_ |�i ui_ih@* u�?_t h@|i ?L| |L Mi

?i}@|��i uLh 4L?|�t &c & ' fc � � � c D @u|ih |�i t�LU!� A�i �4T�*ti hitTL?ti uLh hi@*

B#� �t @ f�2 TihUi?| UL?�_i?Ui M@?_ @hL�?_ 3ihLG ���*i UL?t�t|i?| ��|� |�i |i |MLL!

��i� Lu _iU*�?�?} L�|T�| @u|ih @ 4L?i|@h) TL*�U) t�LU!c �| �t @*tL UL?t�t|i?| ��|� i�}�

4L?i|@h) ?i�|h@*�|)�

�.

Page 40: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for real GDP

years

Per

cent

6�}�hi SG W4T�*ti hitTL?tit Lu hi@* B#� |L @ UL?|h@U|�L?@h) 4L?i|@h) TL*�U) t�LU!

L?i t|@?_@h_ _i��@|�L? �? t�3ic �t�?} |�i T�hi�t�}?�hit|h�U|�L? @TThL@U�� 6Lh |�i *iu|

UL*�4?c g ' 2 @?_ g ' D �ihi �ti_c ��ihi@t g ' �� @?_ g ' 2� �@�i Mii? �ti_ �?

|�i h�}�| UL*�4?� ,tti?|�@**)c @** Lu |�iti �}�hit t�L� @}@�? @? ihhLh M@?_ Lu f�2TihUi?| @hL�?_ 3ihL� �t L?i 4L�it uhL4 t�Lh|ih |L *L?}ih �Lh�3L?t gc |�@| M@?_

tii4t |L 4L�i �T� ��ih@**c |�i i��_i?Ui �? u@�Lh Lu |�i UL?�i?|�L?@* ��i� Lu @ u@** �?

L�|T�| @u|ih @ RUL?|h@U|�L?@h)� 4L?i|@h) TL*�U) t�LU! tii4t |L �i@! @| Mit|�

�H

Page 41: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.6

-0.4

-0.2

0

0.2

0.4

0.6

0.8

1

1.2Impulse response for Total Reserves

years

Per

cent

0 1 2 3 4 5-0.9

-0.8

-0.7

-0.6

-0.5

-0.4

-0.3

-0.2

-0.1

0Impulse response for GDP price defl.

years

Per

cent

0 1 2 3 4 5-1

-0.5

0

0.5

1

1.5Impulse response for Nonborr. Reserv.

years

Per

cent

0 1 2 3 4 5-3.5

-3

-2.5

-2

-1.5

-1

-0.5

0Impulse response for Comm. price ind.

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for Fed. Funds Rate

years

Per

cent

6�}�hi .G W4T�*ti hitTL?tit |L @ UL?|h@U|�L?@h) 4L?i|@h) TL*�U) t�LU! L?i t|@?_@h_

_i��@|�L? �? t�3ic �t�?} |�i Ti?@*|)�u�?U|�L? @TThL@U� ��|� g ' D� W�i�c |�i hitTL?tit

Lu |�i B#� Th�Ui _i�@|Lhc |�i UL44L_�|) Th�Ui �?_i c ?L?MLhhL�i_ hitih�it @?_ |�i

?i}@|��i Lu |�i 6i_ih@* 6�?_t +@|i �@�i Mii? Ti?@*�3i_ uLh TLt�|��i �@*�it @?_ t*�}�|*)

hi�@h_i_ uLh ?i}@|��i �@*�it �? |�i 4L?|�t &c & ' fc � � � c D uL**L��?} |�i t�LU!G |�i

t�LU! �@t �_i?|��i_ M) 4�?�4�3�?} |L|@* Ti?@*|�it� A�i ihhLh M@?_t @hi ?L� 4�U�

t�@hTih � `��*i |�i hi@* B#� hitTL?ti �t t|�** ��|��? |�i f�2 ihhLh M@?_ @hL�?_ 3ihL

it|�4@|i_ MiuLhic |�ihi ?L� tii4t |L Mi @ T�iUi Mi|�ii? L?i @?_ �2 4L?|�c t�L��?}

@ UL?�i?|�L?@* hitTL?ti�

�b

Page 42: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for real GDP

years

Per

cent

6�}�hi HG W4T�*ti hitTL?tit Lu hi@* B#� |L @ UL?|h@U|�L?@h) 4L?i|@h) TL*�U) t�LU!

L?i t|@?_@h_ _i��@|�L? �? t�3ic �t�?} |�i Ti?@*|)�u�?U|�L? @TThL@U�c �4TLt�?} t�}?

hit|h�U|�L? uLh |�i 4L?|�t & ' fc � � � cg @u|ih |�i t�LU!� 6Lh |�i *iu| UL*�4?c g ' 2

@?_ g ' D �ihi �ti_c ��ihi@t g ' �� @?_ g ' 2� �@�i Mii? �ti_ �? |�i h�}�|

UL*�4?� A�i hit�*|t @hi ?L� t�@hTihc M�| @*tL 4Lhi ti?t�|��i |L �@h�@|�L?t �? g�

�?*) *L� �@*�it Lu g @hi u@�h*) UL?t�t|i?| ��|� |�i UL?�i?|�L?@* ��i� Lu @ _iU*�?i �?

hi@* B#� uL**L��?} @ RUL?|h@U|�L?@h)� 4L?i|@h) TL*�U) t�LU!�

ef

Page 43: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.25

-0.2

-0.15

-0.1

-0.05

0

0.05

0.1

0.15

0.2

0.25Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for Fed. Funds Rate

yearsP

erce

nt

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for Fed. Funds Rate

years

Per

cent

0 1 2 3 4 5-0.5

-0.4

-0.3

-0.2

-0.1

0

0.1

0.2Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.4

-0.2

0

0.2

0.4

0.6

0.8

1Impulse response for Fed. Funds Rate

years

Per

cent

6�}�hi bG �L4T@h�tL? Lu �4T�*ti hitTL?tit uLh |�i Ti?@*|) u�?U|�L? @TThL@U� ��|�

g ' D� A�i *iu| UL*�4? t�L�t |�i hitTL?ti Lu hi@* B#�c ��ihi@t |�i h�}�| UL*�4?

t�L�t |�i hitTL?ti Lu |�i 6i_ih@* 6�?_t +@|i� 6Lh |�i |LT hL�c @ t^�@hi hLL| Ti?@*|)

u�?U|�L? �@t �ti_� 6Lh |�i tiUL?_ hL�c @ *�?i@h Ti?@*|) �@t �ti_c ULhhitTL?_�?} |L

|�i U�L�Ui �ti_ i*ti��ihi �? |�i T@Tih� A�i *@t| hL� i4T*L)t @ ^�@_h@|�U Ti?@*|)

u�?U|�L?� �** �}�hit �@�i Mii? }i?ih@|i_c �t�?} |�i t@4i h@?_L4 ?�4Mih }i?ih@|Lh

tii_� �TT@hi?|*)c |�i _�gihi?Uit @hi ?L| M�}�

e�

Page 44: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 50

5

10

15

20

25

30

35

40Fraction of variance explained for real GDP

years

Per

cent

0 1 2 3 4 50

5

10

15

20

25

30

35

40

45

50Fraction of variance explained for Total Reserves

yearsP

erce

nt

0 1 2 3 4 50

10

20

30

40

50

60Fraction of variance explained for GDP price def

years

Per

cent

0 1 2 3 4 50

10

20

30

40

50

60Fraction of variance explained for Nonborr. Rese

years

Per

cent

0 1 2 3 4 50

10

20

30

40

50

60Fraction of variance explained for Comm. price in

years

Per

cent

0 1 2 3 4 50

5

10

15

20

25

30

35

40

45

50Fraction of variance explained for Fed. Funds Ra

years

Per

cent

6�}�hi �fG A�iti T*L|t t�L� |�i uh@U|�L? Lu |�i !�t|iT @�i@_ uLhiU@t| ihhLh �@h�@?Ui

i T*@�?i_ M) @ 4L?i|@h) t�LU!c �t�?} @ T�hi�t�}? hit|h�U|�L? @TThL@U� ��|� g ' D�

A�i |�hii *�?it @hi |�i �SI ^�@?|�*ic |�i 4i_�@? @?_ |�i �SI ^�@?|�*i Lu |�i TLt|ih�Lh

_�t|h�M�|�L?� �UULh_�?} |L |�i 4i_�@? it|�4@|itc 4L?i|@h) TL*�U) t�LU!t @UUL�?| uLh

�f TihUi?| Lu |�i �@h�@|�L?t �? hi@* B#� @| @** �Lh�3L?tc uLh �T |L �f TihUi?| Lu |�i

*L?}��Lh�3L? �@h�@|�L?t �? Th�Uit @?_ uLh 2D TihUi?| Lu |�i �@h�@|�L? �? �?|ihit| h@|it

@| |�i t�Lh| �Lh�3L?c u@**�?} Lg @u|ih |�@|�

e2

Page 45: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-0.8

-0.7

-0.6

-0.5

-0.4

-0.3

-0.2

-0.1

0Impulse response for GDP price defl.

years

Per

cent

0 1 2 3 4 5-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for Fed. Funds Rate

years

Per

cent

0 1 2 3 4 5-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6

0.8

1

1.2Impulse response for Total Reserves

years

Per

cent

0 1 2 3 4 5-3

-2.5

-2

-1.5

-1

-0.5

0

0.5Impulse response for Comm. price ind.

years

Per

cent

0 1 2 3 4 5-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4Impulse response for 1 Year T-Bill

years

Per

cent

0 1 2 3 4 5-1

-0.5

0

0.5

1

1.5Impulse response for Nonborr. Reserv.

years

Per

cent

0 1 2 3 4 5-0.25

-0.2

-0.15

-0.1

-0.05

0

0.05

0.1Impulse response for Inflation

years

Per

cent

0 1 2 3 4 5-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for Real Rate

years

Per

cent

6�}�hi ��G �__�|�L?@* �4T�*ti hitTL?tit uLh |�i ��)i@h |hi@t�h) M�** h@|i @| UL?t|@?|

4@|�h�|) E@__i_ |L |�i V�+�c |�i �?�@|�L? h@|ic U@*U�*@|i_ uhL4 |�i B#� _i�@|Lh

hitTL?tic @?_ |�i �4T*�i_ hi@* h@|i� A�i t)t|i4 �@t Mii? it|�4@|i_ �t�?} @ T�hi t�}?

hit|h�U|�L? @TThL@U� ��|� g ' D� A�i �ht| UL*�4? t�L�t |�i hitTL?tit Lu hi@* B#�c

|L|@* hitih�it @?_ ?L?MLhhL�i_ hitih�it� A�i tiUL?_ UL*�4? t�L�t |�i hitTL?tit Lu

|�i B#� _i�@|Lhc |�i UL44L_�|) Th�Ui �?_i @?_ �?�@|�L?� A�i |��h_ UL*�4? t�L�t

|�i hitTL?tit Lu |�i 6i_ih@* 6�?_t +@|ic |�i � )i@h A���** h@|i @?_ |�i hi@* h@|i�

e�

Page 46: @hi |i igiU|t Lu 4L?i|@h) TL* U) L? L|T|q +it*|t uhL4 ... · Devwudfw Wklv sdshu sursrvhv rw hvwlpdwh wkh h hfvw ri prqhwdu| srlf|o vkrnvf |e d qhz _djqrvwlf% phwkrg/ plsrvlqj vjlq

0 1 2 3 4 5-0.5

-0.4

-0.3

-0.2

-0.1

0

0.1

0.2Impulse response for real GDP

years

Per

cent

0 1 2 3 4 5-1

-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6

0.8Impulse response for Total Reserves

years

Per

cent

0 1 2 3 4 5-0.7

-0.6

-0.5

-0.4

-0.3

-0.2

-0.1

0Impulse response for GDP price defl.

years

Per

cent

0 1 2 3 4 5-1.2

-1

-0.8

-0.6

-0.4

-0.2

0

0.2

0.4

0.6

0.8Impulse response for Nonborr. Reserv.

years

Per

cent

0 1 2 3 4 5-2.5

-2

-1.5

-1

-0.5

0

0.5Impulse response for Comm. price ind.

years

Per

cent

0 1 2 3 4 5-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5Impulse response for Fed. Funds Rate

years

Per

cent

6�}�hi �2G W4T�*ti hitTL?tit |L @ UL?|h@U|�L?@h) 4L?i|@h) TL*�U) t�LU! L?i t|@?_@h_

_i��@|�L? �? t�3ic �t�?} |�i T�hi�t�}?�hit|h�U|�L? @TThL@U� ��|� g ' Dc @__�|�L?@**)

�4TLt�?} @ 3ihL hitTL?ti L? �4T@U| uLh |�i |�L Th�Ui �?_�Uit�

ee