Whip ( politics ) - wikipedia Whip ( politics ) Jump to : navigation , search In countries influenced by the British political system , a whip is an official of a political party whose task is to ensure party discipline in a legislature . Whips are the party 's `` enforcers '' ; they invite their fellow legislators to attend voting sessions and to vote according to the official party policy . The term is taken from the `` whipper - in '' during a hunt , who tries to prevent the hounds from wandering away from the pack . Additionally , the term `` whip '' may mean the voting instructions issued to members by the whip , or the status of a certain legislator in their party 's parliamentary grouping . Contents ( hide ) 1 Etymology 2 Australia 3 Canada 4 Greece 5 India 6 Ireland 7 Malaysia 8 New Zealand 9 South Africa 10 United Kingdom 11 United States 12 Whips in other parts of the world 13 In popular culture 14 References 15 External links Etymology ( edit ) The expression whip in its parliamentary context has its origins in hunting terminology . The Oxford English Dictionary defines the term whipper - in as , `` a huntsman 's assistant who keeps the hounds from straying by driving them back with the whip into the main body of the pack '' . According to that dictionary , the first recorded use of the term whipper - in in the parliamentary sense occurs in 1772 . However , P.D.G. Thomas in House of Commons in the Eighteenth Century cites two examples of the use of the term that pre-date 1772 . It was within the context of such summonses to members out of town that the first known Parliamentary instance of the use of the term `` whip '' occurred . In the debate of 8 May 1769 on a petition from some Middlesex freeholders against the seating of Henry Luttrell instead of John Wilkes , Edmund Burke mentioned that the ministry had sent for their friends to the north and to Paris , `` whipping them in , than which , he said , there could not be a better phrase '' . Although Burke 's particular emphasis on the expression implied its comparative novelty , the hunting term had been used in this political context for at least a generation : on 18 November 1742 Heneage Finch remarked in a letter to Lord Malton that `` the Whigs for once in their lives have whipped in better than the Tories '' . Australia ( edit ) Main article : Party whip ( Australia ) In the Parliament of Australia , as well as in the parliaments of the six states and two self - governing territories , all political parties have whips to ensure party discipline and carry out a variety of other functions on behalf of the party leadership . The most important function of the whip 's office is to ensure that all members and senators are present to take part in votes in the chamber ( maintaining quorum and preventing censure motions ) . Unlike in the United Kingdom , Australian whips do not hold official office , but they are recognised for parliamentary purposes . In practice , Australian whips play a lesser role than their counterparts in the United Kingdom , as party discipline in Australia tends to be tighter . Their roles in the chamber include taking divisions , and maintaining a `` pairs book '' which controls the ability of members and senators to leave the parliament building during sittings , as well as the entitlement to be absent during divisions . Liberal Party whips are appointed by the leader of the party , while Australian Labor Party whips are elected by the Caucus . For Labor and the Liberals , the chief whip is assisted by two deputy whips . Similar arrangements exist in the state and territory parliaments . Canada ( edit ) Main article : Party Whip ( Canada ) In Canada the Party Whip is the member of a political party in the Canadian House of Commons , the Canadian Senate or a provincial legislature charged with ensuring party discipline among members of the caucus . The whip is also responsible for assigning offices and scheduling speakers from his or her party for various bills , motions and other proceedings in the House . Greece ( edit ) In Greece , party discipline is normally very strict . However , a few governments have collapsed despite this strictness . The role of the whip is usually exercised by the party leader but Kostas Karamanlis , the prime minister from 2004 to 2009 and former leader of the New Democracy party , mostly used Giannis Tragakis , General Secretary of his party parliamentary group , as a whip . Until November 2008 , New Democracy , Karamanlis ' party , had 152 MPs out of 300 . When Petros Tatoulis , MP for Arcadia Prefecture , stated that Karamanlis was guilty of a few political scandals , Karamanlis immediately expelled him from both the parliamentary group and the party , as a result giving New Democracy a majority of only one seat . India ( edit ) In India , the concept of the whip was inherited from colonial British rule . Every major political party appoints a whip who is responsible for the party 's discipline and behaviour on the floor of the house . Usually , he / she directs the party members to stick to the party 's stand on certain issues and directs them to vote as per the direction of senior party members . However , there are some cases such as Indian presidential elections where whips can not direct a member of parliament or member of legislative assembly on whom to vote . Ireland ( edit ) Whips exist for all parliamentary parties in Dáil Éireann and Seanad Éireann . The government chief whip is normally a Minister of State at the Department of the Taoiseach , and attends cabinet meetings . The whips of each house meet weekly to set the agenda for the next week 's business . The Technical Group in the Dáil and the analogous Independent groups in the Seanad nominate whips to attend these meetings even though there is no party line for their whips to enforce . Whips also coordinate pairing . The timing of most votes are difficult to predict and TDs are expected to stay within earshot of the division bell at all times . All TDs are required to vote with their party and to receive permission if they intend to be absent for a vote . Free votes are not a common feature of the Irish parliamentary tradition but they do happen on occasion , and there are calls for them to happen more often . For instance , Fianna Fail usually allows a free vote on abortion bills as in the Protection of Human Life In Pregnancy Act . From 1998 , whips and assistant whips may be entitled to an allowance on top of their base legislator 's salary . In 2011 , these allowances varied proportional to the size of the group , with Fianna Fáil 's Dáil whip 's allowance the highest at € 19,000 . Malaysia ( edit ) Main article : Party whip ( Malaysia ) New Zealand ( edit ) See also : Senior Whip of the Labour Party , Senior Whip of the Liberal Party , and Senior Whip of the National Party In New Zealand , the concept of the whip was inherited from British rule . All political parties that have four or more members in Parliament have at least one party whip , although Green Party whips are called musterers . Parties with 25 to 44 members are allowed two whips ( one senior and one junior ) , and parties with 45 or more members are entitled to three whips ( one senior and two junior ) . Whips act in an administrative role , making sure members of their party are in the debating chamber when required and organising members of their party to speak during debates . Since the introduction of proportional representation in 1996 , divisions which require all members in the chamber to vote by taking sides ( termed a personal vote ) are rarely used , except for conscience issues . Instead , one of the party 's whips votes on behalf of all the members of their party , by declaring how many members are in favour and / or how many members are opposed . They also cast proxy votes for single - member parties whose member is not in the chamber at the time of the vote , and also cast proxy vote during personal votes for absent members of their parties and for absent members of associated single - member parties . South Africa ( edit ) Although South Africa uses a proportional representation system , the concept of a political party whip , which was inherited from colonial British rule , has been maintained . In 2017 , ANC secretary general Gwede Mantashe said `` Voting according to conscience does n't work in a political party system . We all get into the list of things and go to Parliament as parliamentarians of the ANC ( ... ) There will be no voting against the ANC '' . United Kingdom ( edit ) In British politics , the chief whip of the governing party in the House of Commons is customarily appointed as Parliamentary Secretary to the Treasury so that the incumbent , who represents the whips in general , has a seat and a voice in the Cabinet . By virtue of holding the office of Parliamentary Secretary to the Treasury , the government chief whip has an official residence at 12 Downing Street , although the chief whip 's office is currently located at 9 Downing Street . Whips report to the prime minister on any possible backbench revolts and the general opinion of MPs within the party , and upon the exercise of the patronage , which is used to motivate and reward loyalty . In the sense of ' voting instructions ' , there are three categories of whip in British politics that are issued on particular business . An expressed instruction on how to vote could constitute a breach of parliamentary privilege , so the party 's wishes are expressed unequivocally but indirectly . These whips are issued to MPs in the form of a letter outlining the parliamentary schedule , with a sentence such as `` Your attendance is absolutely essential '' next to each debate in which there will be a vote , underlined one , two or three times according to the severity of the whip : A single - line whip is a guide to what the party 's policy would indicate , and notification of when the vote is expected to take place ; this is non-binding for attendance or voting . A two - line whip , sometimes known as a double - line whip , is an instruction to attend and vote ; partially binding for voting , attendance required unless prior permission given by the whip . A three - line whip is a strict instruction to attend and vote , breach of which would normally have serious consequences . Permission not to attend may be given by the whip , but a serious reason is needed . Breach of a three - line whip can lead to expulsion from the parliamentary political group in extreme circumstances and may lead to expulsion from the party . Consequently , three - line whips are generally only issued on key issues , such as votes of confidence and supply . The nature of three - line whips and the potential punishments for revolt vary dramatically among parties and legislatures . Disobeying a three - line whip is a newsworthy event , indicating as it does a potential mutiny ; an example was the decision on 10 July 2012 by 91 Conservative MPs to vote against Prime Minister David Cameron on the issue of reform of the House of Lords . United states ( edit ) This section includes a list of references , but its sources remain unclear because it has insufficient inline citations . Please help to improve this section by introducing more precise citations . ( March 2016 ) ( Learn how and when to remove this template message ) In the United States there are legislatures at the local ( city councils , town councils , county boards , etc . ) , state , and federal levels . The federal legislature ( Congress ) , the legislatures in all states except for Nebraska , and many county and city legislative bodies are divided along party lines and have whips , as well as majority and minority leaders . Similarly , the whip may also be known as the assistant majority or assistant minority leader . Both houses of Congress , the House of Representatives and Senate , have majority and minority whips . They in turn have subordinate `` regional '' whips . While members of Congress often vote along party lines , the influence of the whip is weaker than in the UK system . One reason is that a considerable amount of money is raised by individual candidates , and members of Congress , or any other person , can not be expelled from a political party , which are formed simply by open registration . In addition , because preselection of candidates for office is generally done through a primary election open to a wide number of voters , a candidate who obeys their constituents ' rejection of the party line can not easily be deselected by his party . Because members of Congress can not serve simultaneously in executive positions , a whip in the United States can not bargain with a member by using as an inducement the possibility of promotion or demotion in a sitting administration . There is , however , a highly structured committee system in both houses of Congress , and a whip may be able to use promotion or demotion within that system instead . In the House of Representatives , the influence of a single member individually is relatively small and therefore depends a great deal on the representative 's seniority ( i.e. , in most cases , on the length of time they have held office ) . In the Senate , the majority whip is the third - highest ranking individual in the majority party ( the party with the most seats ) . The majority whip is outranked by the majority leader and , unofficially , the president pro tempore ; because the office of president pro tempore is largely honorific and usually given to the longest - serving senator of the majority , the majority whip is in reality the second - ranking senator in the majority conference in terms of actual power . Similarly , in the House , the majority whip is outranked by both the majority leader and the speaker . Unlike the Senate 's presiding officer , the Speaker is the leader of his or her party 's caucus in the House . In both the House and the Senate , the minority whip is the second highest - ranking individual in the minority party ( the party with the lesser number of legislators in a legislative body ) , outranked only by the minority leader . The whip position was first created in the House of Representatives in 1897 by Republican Speaker Thomas Reed , who appointed James A. Tawney as the first whip . The first Democratic whip , Oscar Wilder Underwood , was appointed around 1900 . In the Senate , the position was created in 1913 by John W. Kern , chair of the Democratic caucus , when he appointed J. Hamilton Lewis as the first whip , while Republicans later chose James Wadsworth as the party 's first in 1915 . Whips in other parts of the world ( edit ) In most countries not now or formerly under control of the British Empire or part of the Commonwealth of Nations -- like most of continental Europe and Asia -- the position of whip does not officially exist . The whip 's responsibilities are mostly exercised by the party leader or the leader of a parliamentary faction themselves . In popular culture ( edit ) British author and politician Michael Dobbs wrote a trilogy of books , centred around a fictional party whip named Francis Urquhart , which was dramatised and broadcast on the British Broadcasting Corporation between 1990 and 1995 . The first book in the trilogy , entitled House of Cards , lent its name to the original UK television series and has also been used as the title of subsequent series based on other countries ' political systems . In House of Cards , Francis Urquhart is the Chief Whip for the UK Conservative Party and the trilogy charts his ambitious rise through his party 's ranks until he becomes Prime Minister . In the American remake of House of Cards , Frank Underwood is the House Majority Whip for the US Democratic Party . The series charts Underwood 's ambitious rise through his party 's ranks until he becomes President . The name Frank Underwood was both an acknowledgement of the original trilogy 's protagonist Francis Urquhart and to the US political system itself , as Oscar Underwood was the first ever party whip for the US Democratic Party . In the UK there is a reproduction of James Graham 's play titled This House that deals with the Conservative and Labour whips during the 1970s . References ( edit ) Jump up ^ Pandiyan , M. Veera ( May 14 , 2006 ) . How the term ' Whip ' came to be used in Parliament . The Star ( Malaysia ) . Jump up ^ House of Commons briefing note : The Whip 's Office Doc ref . SN / PC / 02829 . Last updated 10th October 2008 Jump up ^ Parliamentary Education Office . Fact Sheet 36 : The Party Whip . Jump up ^ Parliament of Australia : Parliamentary Library . Free Votes in Australian and some Overseas Parliaments . Jump up ^ `` Fact Sheet -- Party Whips '' . Parliamentary Education Office . Retrieved 27 July 2013 . Jump up ^ Matthew Jones ( November 13 , 2008 ) . `` Once popular Greek PM struggling to reconnect '' . Reuters Blog . Jump up ^ `` Derek O'Brien is TMC 's Chief Whip in Rajya Sabha '' . Outlook India . Aug 2 , 2012 . Archived from the original on 14 October 2013 . Retrieved 3 August 2012 . Jump up ^ `` leaders and chief whips of recognised parties and groups in parliament ( facilities ) act , 1998 '' ( PDF ) . Rajya Sabha Secretariat . Archived ( PDF ) from the original on 3 August 2012 . Retrieved 3 August 2012 . Jump up ^ `` Issuing whips to MPs , MLAs in Presidential poll is an offence : EC '' . The Times of India . Jul 10 , 2012 . Retrieved 3 August 2012 . ^ Jump up to : `` Whips '' . Glossary . Dublin : Oireachtas . Retrieved 21 February 2012 . Jump up ^ MacCarthaigh , Muiris ( 2008 ) . Government in Modern Ireland . Institute of Public Administration . p. 37 , fn. 6 . ISBN 978 - 1 - 904541 - 72 - 1 . Retrieved 21 February 2012 . ^ Jump up to : MacCarthaigh , Muiris ( 2005 ) . `` How parliamentary accountability functions in Ireland '' . Accountability in Irish parliamentary politics . Institute of Public Administration . pp. 147 -- 150 . ISBN 978 - 1 - 904541 - 31 - 8 . Retrieved 21 February 2012 . Jump up ^ Murphy , Catherine ( 2 June 2011 ) . Dáil Reform : Statements . Dáil debates . Oireachtas . Vol. 734 No. 2 p. 6 c. 250 . Retrieved 21 February 2012 . I act as the whip for the Technical Group even though there is no party line to be enforced . Jump up ^ Ronan McGreevy ( May 30 , 2013 ) . `` Fianna Fáil to allow free vote on forthcoming abortion legislation '' . The Irish Times . Jump up ^ Oireachtas ( Allowances To Members ) and Ministerial , Parliamentary , Judicial and Court Offices ( Amendment ) Act , 1998 Irish Statute Book Jump up ^ S.I. No. 347 / 2011 -- Oireachtas ( Allowances ) ( Members and Holders of Parliamentary and Certain Ministerial Offices ) Order 2011 Irish Statute Book Jump up ^ Donald , Rod ( 14 Dec 1999 ) . `` The Musterer replaces whips in the Green Party '' . Green Party of New Zealand . Archived from the original on 30 Oct 2013 . Jump up ^ Parliamentary Monitoring Group . Structure of Government - Office bearers of legislative institutions Jump up ^ Chief Whips on Parliament Website. ( 1 ) Jump up ^ Thulani Gqirana . `` ANC MPs will toe party line in no confidence motion - chief whip '' . News24 . Jump up ^ Chapman , James ( 10 July 2012 ) . `` Coalition suffers biggest rebellion yet as Tory backbenchers scupper Clegg 's dream of Lords reform , leaving senior Lib Dems vowing revenge '' . Daily Mail . Jump up ^ `` Democratic Whips '' . Office of the Clerk , U.S. House of Representatives . Retrieved April 21 , 2010 . Jump up ^ `` History of the Whip '' . Office of the house majority whip . Retrieved April 18 , 2010 . Jump up ^ Gould , Lewis L. ( 2005 ) . The Most Exclusive Club . Basic Books . pp. 57 , 59 . ISBN 978 - 0 - 465 - 02778 - 1 . External links ( edit ) Chisholm , Hugh , ed. ( 1911 ) . `` whip '' . Encyclopædia Britannica ( 11th ed . ) . Cambridge University Press . Retrieved from `` https://en.wikipedia.org/w/index.php?title=Whip_(politics)&oldid=821910213 '' Categories : Political whips Political terminology Parliamentary titles Government occupations Legal professions Hidden categories : All articles with unsourced statements Articles with unsourced statements from September 2014 Articles lacking in - text citations from March 2016 All articles lacking in - text citations Wikipedia articles incorporating a citation from the 1911 Encyclopaedia Britannica with Wikisource reference Talk Contents About Wikipedia Dansk Deutsch Français हिन्दी Italiano עברית Nederlands Norsk Polski Português Русский Simple English Suomi Svenska தமிழ் తెలుగు 中文 Edit links This page was last edited on 23 January 2018 , at 09 : 29 . Text is available under the Creative Commons Attribution - ShareAlike License ; additional terms may apply . By using this site , you agree to the Terms of Use and Privacy Policy . 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Question: what is the job of the whip in congress


Foreign exchange option - wikipedia Foreign exchange option Jump to : navigation , search Foreign exchange Exchange rates Currency band Exchange rate Exchange - rate regime Exchange - rate flexibility Dollarization Fixed exchange rate Floating exchange rate Linked exchange rate Managed float regime Dual exchange rate Markets Foreign exchange market Futures exchange Retail foreign exchange trading Assets Currency Currency future Currency forward Non-deliverable forward Foreign exchange swap Currency swap Foreign exchange option Historical agreements Bretton Woods Conference Smithsonian Agreement Plaza Accord Louvre Accord See also Bureau de change Hard currency Currency pair Foreign exchange fraud Currency intervention In finance , a foreign exchange option ( commonly shortened to just FX option or currency option ) is a derivative financial instrument that gives the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date . See Foreign exchange derivative . The foreign exchange options market is the deepest , largest and most liquid market for options of any kind . Most trading is over the counter ( OTC ) and is lightly regulated , but a fraction is traded on exchanges like the International Securities Exchange , Philadelphia Stock Exchange , or the Chicago Mercantile Exchange for options on futures contracts . The global market for exchange - traded currency options was notionally valued by the Bank for International Settlements at $158.3 trillion in 2005 . Contents ( hide ) 1 Example 2 Terms 3 Trading 4 Hedging 5 Valuation : the Garman -- Kohlhagen model 6 Risk management 7 References Example ( edit ) For example , a GBPUSD contract could give the owner the right to sell £ 1,000,000 and buy $2,000,000 on December 31 . In this case the pre-agreed exchange rate , or strike price , is 2.0000 USD per GBP ( or GBP / USD 2.00 as it is typically quoted ) and the notional amounts ( notionals ) are £ 1,000,000 and $2,000,000 . This type of contract is both a call on dollars and a put on sterling , and is typically called a GBPUSD put , as it is a put on the exchange rate ; although it could equally be called a USDGBP call . If the rate is lower than 2.0000 on December 31 ( say 1.9000 ) , meaning that the dollar is stronger and the pound is weaker , then the option is exercised , allowing the owner to sell GBP at 2.0000 and immediately buy it back in the spot market at 1.9000 , making a profit of ( 2.0000 GBPUSD − 1.9000 GBPUSD ) × 1,000,000 GBP = 100,000 USD in the process . If instead they take the profit in GBP ( by selling the USD on the spot market ) this amounts to 100,000 / 1.9000 = 52,632 GBP . Terms ( edit ) Call option -- the right to buy an asset at a fixed date and price . Put option -- the right to sell an asset at a fixed date and price . Foreign exchange option -- the right to sell money in one currency and buy money in another currency at a fixed date and rate . Strike price -- the asset price at which the investor can exercise an option . Spot price -- the price of the asset at the time of the trade . Forward price -- the price of the asset for delivery at a future time . Notional -- the amount of each currency that the option allows the investor to sell or buy . Ratio of notionals -- the strike , not the current spot or forward . Numéraire -- the currency in which an asset is valued . Non-linear payoff -- the payoff for a straightforward FX option is linear in the underlying currency , denominating the payout in a given numéraire . Change of numéraire -- the implied volatility of an FX option depends on the numéraire of the purchaser , again because of the non-linearity of x ↦ 1 / x ( \ displaystyle x \ mapsto 1 / x ) . In the money -- for a put option , this is when the current price is less than the strike price , and would thus generate a profit were it exercised ; for a call option the situation is inverted . Trading ( edit ) The difference between FX options and traditional options is that in the latter case the trade is to give an amount of money and receive the right to buy or sell a commodity , stock or other non-money asset . In FX options , the asset in question is also money , denominated in another currency . For example , a call option on oil allows the investor to buy oil at a given price and date . The investor on the other side of the trade is in effect selling a put option on the currency . To eliminate residual risk , match the foreign currency notionals , not the local currency notionals , else the foreign currencies received and delivered do n't offset . In the case of an FX option on a rate , as in the above example , an option on GBPUSD gives a USD value that is linear in GBPUSD using USD as the numéraire ( a move from 2.0000 to 1.9000 yields a . 10 * $2,000,000 / $2.0000 = $100,000 profit ) , but has a non-linear GBP value . Conversely , the GBP value is linear in the USDGBP rate , while the USD value is non-linear . This is because inverting a rate has the effect of x ↦ 1 / x ( \ displaystyle x \ mapsto 1 / x ) , which is non-linear . Hedging ( edit ) Corporations primarily use FX options to hedge uncertain future cash flows in a foreign currency . The general rule is to hedge certain foreign currency cash flows with forwards , and uncertain foreign cash flows with options . Suppose a United Kingdom manufacturing firm expects to be paid US $100,000 for a piece of engineering equipment to be delivered in 90 days . If the GBP strengthens against the US $ over the next 90 days the UK firm loses money , as it will receive less GBP after converting the US $100,000 into GBP . However , if the GBP weakens against the US $ , then the UK firm receives more GBP . This uncertainty exposes the firm to FX risk . Assuming that the cash flow is certain , the firm can enter into a forward contract to deliver the US $100,000 in 90 days time , in exchange for GBP at the current forward rate . This forward contract is free , and , presuming the expected cash arrives , exactly matches the firm 's exposure , perfectly hedging their FX risk . If the cash flow is uncertain , a forward FX contract exposes the firm to FX risk in the opposite direction , in the case that the expected USD cash is not received , typically making an option a better choice . Using options , the UK firm can purchase a GBP call / USD put option ( the right to sell part or all of their expected income for pounds sterling at a predetermined rate ) , which : protects the GBP value that the firm expects in 90 days ' time ( presuming the cash is received ) costs at most the option premium ( unlike a forward , which can have unlimited losses ) yields a profit if the expected cash is not received but FX rates move in its favor Valuation : the Garman -- Kohlhagen model ( edit ) As in the Black -- Scholes model for stock options and the Black model for certain interest rate options , the value of a European option on an FX rate is typically calculated by assuming that the rate follows a log - normal process . In 1983 Garman and Kohlhagen extended the Black -- Scholes model to cope with the presence of two interest rates ( one for each currency ) . Suppose that r d ( \ displaystyle r_ ( d ) ) is the risk - free interest rate to expiry of the domestic currency and r f ( \ displaystyle r_ ( f ) ) is the foreign currency risk - free interest rate ( where domestic currency is the currency in which we obtain the value of the option ; the formula also requires that FX rates -- both strike and current spot be quoted in terms of `` units of domestic currency per unit of foreign currency '' ) . The results are also in the same units and to be meaningful need to be converted into one of the currencies . Then the domestic currency value of a call option into the foreign currency is c = S 0 e − r f T N ( d 1 ) − K e − r d T N ( d 2 ) ( \ displaystyle c = S_ ( 0 ) e ^ ( - r_ ( f ) T ) ( \ mathcal ( N ) ) ( d_ ( 1 ) ) - Ke ^ ( - r_ ( d ) T ) ( \ mathcal ( N ) ) ( d_ ( 2 ) ) ) The value of a put option has value p = K e − r d T N ( − d 2 ) − S 0 e − r f T N ( − d 1 ) ( \ displaystyle p = Ke ^ ( - r_ ( d ) T ) ( \ mathcal ( N ) ) ( - d_ ( 2 ) ) - S_ ( 0 ) e ^ ( - r_ ( f ) T ) ( \ mathcal ( N ) ) ( - d_ ( 1 ) ) ) where : d 1 = ln  ( S 0 / K ) + ( r d − r f + σ 2 / 2 ) T σ T ( \ displaystyle d_ ( 1 ) = ( \ frac ( \ ln ( S_ ( 0 ) / K ) + ( r_ ( d ) - r_ ( f ) + \ sigma ^ ( 2 ) / 2 ) T ) ( \ sigma ( \ sqrt ( T ) ) ) ) ) d 2 = d 1 − σ T ( \ displaystyle d_ ( 2 ) = d_ ( 1 ) - \ sigma ( \ sqrt ( T ) ) ) S 0 ( \ displaystyle S_ ( 0 ) ) is the current spot rate K ( \ displaystyle K ) is the strike price N ( x ) ( \ displaystyle ( \ mathcal ( N ) ) ( x ) ) is the cumulative normal distribution function r d ( \ displaystyle r_ ( d ) ) is domestic risk free simple interest rate r f ( \ displaystyle r_ ( f ) ) is foreign risk free simple interest rate T ( \ displaystyle T ) is the time to maturity ( calculated according to the appropriate day count convention ) and σ ( \ displaystyle \ sigma ) is the volatility of the FX rate . Risk management ( edit ) A wide range of techniques are in use for calculating the options risk exposure , or Greeks ( as for example the Vanna - Volga method ) . Although the option prices produced by every model agree ( with Garman -- Kohlhagen ) , risk numbers can vary significantly depending on the assumptions used for the properties of spot price movements , volatility surface and interest rate curves . After Garman -- Kohlhagen , the most common models are SABR and local volatility , although when agreeing risk numbers with a counterparty ( e.g. for exchanging delta , or calculating the strike on a 25 delta option ) Garman -- Kohlhagen is always used . References ( edit ) Jump up ^ `` Foreign Exchange ( FX ) Terminologies : Forward Deal and Options Deal '' Published by the International Business Times AU on February 14 , 2011 . Jump up ^ `` Forex Options '' . Investing.com . Retrieved 30 March 2017 . Jump up ^ `` British Pound ( GBP ) to Euro ( EUR ) exchange rate history '' . www.exchangerates.org.uk . Retrieved 21 September 2016 . Jump up ^ `` Currency options pricing explained '' . www.derivativepricing.com . Retrieved 21 September 2016 . ( hide ) Derivatives market Derivative ( finance ) Options Terms Credit spread Debit spread Exercise Expiration Moneyness Open interest Pin risk Risk - free interest rate Strike price the Greeks Volatility Vanilla options Bond option Call Employee stock option Fixed income FX Option styles Put Warrants Exotic options Asian Barrier Basket Binary Chooser Cliquet Commodore Compound Forward start Interest rate Lookback Mountain range Rainbow Swaption Combinations Collar Covered call Fence Iron butterfly Iron condor Straddle Strangle Protective put Risk reversal Spreads Back Bear Box Bull Butterfly Calendar Diagonal Intermarket Ratio Vertical Valuation Binomial Black Black -- Scholes model Finite difference Garman - Kohlhagen Margrabe 's formula Put -- call parity Simulation Real options valuation Trinomial Vanna -- Volga pricing Swaps Amortising Asset Basis Conditional variance Constant maturity Correlation Credit default Currency Dividend Equity Forex Forward Rate Agreement Inflation Interest rate Overnight indexed Total return Variance Volatility Year - on - Year Inflation - Indexed Zero Coupon Inflation - Indexed Zero Coupon Swap Forwards Futures Contango Currency future Dividend future Forward market Forward price Forwards pricing Forward rate Futures pricing Interest rate future Margin Normal backwardation Single - stock futures Slippage Stock market index future Exotic derivatives Energy derivative Freight derivative Inflation derivative Property derivative Weather derivative Other derivatives Collateralized debt obligation ( CDO ) Constant proportion portfolio insurance Contract for difference Credit - linked note ( CLN ) Credit default option Credit derivative Equity - linked note ( ELN ) Equity derivative Foreign exchange derivative Fund derivative Interest rate derivative Mortgage - backed security Power reverse dual - currency note ( PRDC ) Market issues Consumer debt Corporate debt Government debt Great Recession Municipal debt Tax policy Retrieved from `` https://en.wikipedia.org/w/index.php?title=Foreign_exchange_option&oldid=816239653 '' Categories : Foreign exchange market Options ( finance ) Derivatives ( finance ) Hidden categories : All articles with unsourced statements Articles with unsourced statements from July 2008 Articles with unsourced statements from September 2016 Articles with unsourced statements from November 2013 Talk Contents About Wikipedia Deutsch 日本 語 Polski Українська Edit links This page was last edited on 20 December 2017 , at 04 : 03 . 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Question: which foreign currency option is the right but not the obligation to buy foreign currency

a foreign exchange option (commonly shortened to just FX option or currency option)


Dan Haggerty - wikipedia Dan Haggerty Jump to : navigation , search This article is about the actor , not to be confused with the actor with a similar name , Don Haggerty . Dan Haggerty Haggerty in 1978 Daniel Francis Haggerty ( 1941 - 11 - 19 ) November 19 , 1941 Los Angeles , California , U.S. January 15 , 2016 ( 2016 - 01 - 15 ) ( aged 74 ) Burbank , California , U.S. Cause of death Spinal cancer Occupation Actor Years active 1959 -- 2016 Spouse ( s ) Diane Rooker ( m . 1959 ; div. 1984 ) Samantha Haggerty ( m . 1984 ; d . 2008 ) Children 6 Daniel Francis `` Dan '' Haggerty ( November 19 , 1941 -- January 15 , 2016 ) was an American actor , best known for playing the title role in The Life and Times of Grizzly Adams . Contents ( hide ) 1 Early life 2 Acting career 3 Personal life 3.1 Death 4 Selected filmography 5 Awards 6 References 7 External links Early Life ( edit ) Haggerty 's birthplace is alternately given by some sources as Pound , Wisconsin , or as Los Angeles , California , by others . His parents separated when he was 3 . Haggerty grew up in a family that owned and operated a small wild animal attraction where he helped raise wild animals , including a black bear that performed tricks . After high school , he pursued an acting career . Acting career ( edit ) Haggerty was cast in a small non-speaking role as a bodybuilder in the 1964 film Muscle Beach Party and also as a bodybuilder in Girl Happy . These were followed by appearances in various biker and wildlife films such as Easy Rider , Angels Die Hard , The Adventures of Frontier Fremont , and Terror Out of the Sky . His experience with animals also brought him work as an animal trainer and handler in films produced by Walt Disney Studios . Additionally , Haggerty also worked as a stuntman on the television series Tarzan , and as set builder on various other projects . He directed white tigers , wolverines , eagles and wild boar in When the North Wind Blows and worked with bears , foxes and hawks in the 1997 film Grizzly Mountain . Haggerty is best known for portraying the character Grizzly Adams in the title role of the 1974 Sunn Classic Pictures feature , The Life and Times of Grizzly Adams . From this feature film evolved the NBC television series of the same name which ran from 1977 to 1978 , and Haggerty became known to movie - goers for his portrayal of nature - loving James Capen `` Grizzly '' Adams . Haggerty appeared briefly in David Carradine 's film Americana and provided a fighting dog for the production . In the film , he not only played the role of the dog 's trainer but also assisted in set design and the restoration of a broken down carousel , which figured prominently in the film . He assisted in building the motorcycles featured in the film Easy Rider , and had a bit part as a hippie in that film , as well as stunt work and supporting roles in numerous low - budget biker films of the era . He also starred in the 1989 film Spirit of the Eagle . Haggerty continued to work as both an actor and infomercial spokesman . One of his endorsements was for the Pap - Ion Magnetic Inductor ( PAP - IMI ) , a device alleged to have health benefits . He had only been hired as a spokesperson and was found not to be part of the fraud that later embroiled the manufacturer . Haggerty played lead roles in the films Repo Jake ( 1990 ) , Elves ( 1990 ) , Grizzly Mountain ( 1995 ) , and Escape to Grizzly Mountain ( 2000 ) . He was also featured as a character in Al Franken 's novel , Why Not Me ? . Haggerty starred in the TV miniseries Condominium ( 1980 ) , which also starred Barbara Eden , Ralph Bellamy and Stuart Whitman . Haggerty played a hydraulics expert trying to warn residents that their Florida condos were about to be demolished in a forthcoming hurricane . He was also on `` Charlie 's Angels '' , season 5 episode 5 called `` Waikiki Angels '' as ' Bo Thompson ' that aired January 4 1981 . He guest starred on The Love Boat in 1983 ( `` World 's Greatest Kisser '' ) . He cameoed as an attorney in Terror Night ( 1987 ) with John Ireland and Cameron Mitchell , starred in Night Wars ( 1988 ) as a Vietnam veteran who is a psychologist dealing with nightmares of his fellow veterans , and appeared in horror films such as Elves and the Linda Blair film The Chilling in 1989 . In Big Stan ( 2007 ) , he played Tubby , and appeared as a lumberjack foreman in Axe Giant : The Wrath of Paul Bunyan ( 2013 ) . Haggerty has also done several voice - overs and can also be seen in music videos by Hank Williams , Jr. and Rogues of the Empire . Prior to his death , Haggerty was last seen as himself on the U.S. television show American Pickers in its episode `` California Kustom '' , which aired February 25 , 2013 . Also played a roll in Dead In 5 Heartbeats , which is on Amazon . Circa 2013 . Imdb 7 / 10 . Personal Life ( edit ) Haggerty was married twice . He married Diane Rooker in 1959 . They were 17 and had a wedding chapel in Las Vegas called Silver Slipper Hotel . Haggerty and Diane had two daughters , Tracey and Tammy , and one son , Don . They divorced in 1984 , after which Haggerty married Samantha Hilton . Haggerty and Samantha had two sons named Dylan and Cody and one daughter named Megan . They were married until Samantha 's death following a motorcycle accident on August 10 , 2008 . Haggerty lived on a small ranch in Malibu Canyon with an assortment of wild animals that he had tamed at birth or rescued from injury . In 1977 , his beard caught fire from a careless patron carrying a flaming cocktail . Trying to put the flames out , Haggerty received third - degree burns on his arms . In 1991 , Haggerty was again hospitalized after a motorcycle accident left him in a coma , recovering with no side effects . Death ( edit ) Haggerty was diagnosed with spinal cancer after undergoing back surgery , when a tumor on his spine was discovered in August 2015 . He died of spinal cancer on January 15 , 2016 , in Burbank , California . Selected filmography ( edit ) Muscle Beach Party ( 1964 ) Easy Rider ( 1969 ) Angels Die Hard ( 1970 ) The Tender Warrior ( 1971 ) Chrome and Hot Leather ( 1971 ) Bury Me an Angel ( 1972 ) Pink Angels ( 1972 ) Hex ( 1973 ) Superchick ( 1973 ) When the North Wind Blows ( 1974 ) The Life and Times of Grizzly Adams ( 1974 ) The Adventures of Frontier Fremont ( 1976 ) `` Blood Brothers '' ( 1977 ) Grizzly Adam 's : Once Upon a Starry Night ( 1978 ) King of the Mountain ( 1981 ) The Capture of Grizzly Adams ( 1982 ) Americana ( 1983 ) Abducted ( 1986 ) Terror Night ( 1987 ) Bloody Movie ( 1987 ) Nightwars ( 1988 ) Elves ( 1989 ) The Chilling ( 1989 ) Spirit of the Eagle ( 1989 ) Repo Jake ( 1990 ) Chance ( 1990 ) Inheritor ( 1990 ) One Man War ~ Macon County War ( original title ) ( 1990 ) Soldier 's Fortune ( 1992 ) Cheyenne Warrior ( 1994 ) Sign of the Otter ( 1995 ) The Little Patriot ( 1995 ) Abducted 2 : The Reunion ( 1995 ) Grizzly Mountain ( 1997 ) Puss in Boots ( 1999 ) Escape to Grizzly Mountain ( 2000 ) An Ordinary Killer ( 2003 ) Motocross Kids ( 2004 ) Big Stan ( 2007 ) The Book of Ruth : Journey of Faith ( 2009 ) Casa de Mi Padre ( 2012 ) Axe Giant : The Wrath of Paul Bunyan ( 2013 ) 40 Nights ( 2016 ) Awards ( edit ) Received a `` Star '' on Hollywood Boulevard in 1994 . Awarded the Dove Foundation 's `` Diamond Seal of Approval '' for over 1 million family videos sold . Awarded the Harley - Davidson `` Humanitarian of the Year '' Award in 1986 . Awarded `` The People 's Choice Award '' for most popular actor in 1980 . Awarded the Paul Harris Fellowship from the Rotary Foundation of Rotary International Awarded a `` Star '' in Kanab , Utah -- `` Hollywood of the West '' in 2009 Los Angeles portal California portal Film portal Television portal References ( edit ) Jump up ^ `` Dan Haggerty '' . The New York Times . The New York Times Company . Retrieved January 17 , 2016 . ^ Jump up to : Grimes , William ( January 15 , 2016 ) . `` Dan Haggerty , Who Played Grizzly Adams , Dies at 73 '' . The New York Times . The New York Times Company . Jump up ^ Day , Patrick Kevin ( Jan 16 , 2016 ) . `` Dan Haggerty '' . Los Angeles Times . Retrieved 25 January 2016 . Jump up ^ `` ' Grizzly Adams ' star Dan Haggerty dies at 74 '' . WFXT ( FOX ) . January 15 , 2016 . Retrieved 25 January 2016 . Jump up ^ Leovy , Jill ( January 15 , 2016 ) . `` Actor Dan Haggerty , TV 's ' Grizzly Adams , ' dies at 73 '' . The Los Angeles Times . Retrieved January 17 , 2016 . Jump up ^ ( via Google Books ) Barris , George ; Fetherston , David ( December 16 , 2008 ) . Barris Cars of the Stars . MotorBooks International . pp. 78 -- . ISBN 9780760332221 . Retrieved June 1 , 2012 . Jump up ^ Carradine , David . Endless Highway . ( 1995 ) Journey Publishing . Jump up ^ `` Hollywood Star Walk : Dan Haggerty '' . Los Angeles Times . June 9 , 2010 . Jump up ^ `` Miracle Machines : The 21st - Century Snake Oil '' . The Seattle Times . December 26 , 2008 . Archived from the original on 2012 - 08 - 16 . Jump up ^ Van Gelder , Lawrence ( 1997 - 10 - 31 ) . `` Grizzly Mountain ( 1997 ) FILM REVIEW ; Time Out to Stop the Bad Guys From Paving a Mountain Paradise '' . The New York Times . Retrieved 2016 - 01 - 15 . ^ Jump up to : L.A. Gil ( January 15 , 2016 ) . `` Samantha Haggerty Grizzly Adams ' Dan Haggerty 's wife '' . Daily Entertainment News . Retrieved January 15 , 2016 . Jump up ^ `` Grizzly Adams Star 's Wife Dies After Motorbike Tragedy '' . IMDb . August 21 , 2008 . Jump up ^ Access Hollywood Staff ( January 15 , 2016 ) . `` ' Grizzly Adams ' Star Dan Haggerty Dies At 74 '' . Access Hollywood . NBCUniversal Television Distribution . Retrieved January 17 , 2016 . Jump up ^ `` ' Grizzly Adams ' Actor Dan Haggerty Dead At 74 After Cancer Fight '' . Los Angeles , CBS Local . January 15 , 2016 . Retrieved January 17 , 2016 . Jump up ^ Lustig , Jonah ; Wilkins , Vanessa ( January 15 , 2016 ) . `` Actor Dan Haggerty Has Died At 74 '' . ABC News . ABC . Retrieved January 15 , 2016 . Jump up ^ Leopold , Todd ( January 15 , 2016 ) . `` Dan Haggerty , ' Grizzly Adams ' star , dies at 74 '' . CNN . Turner Broadcasting System ( Time Warner ) . Retrieved January 15 , 2016 . Jump up ^ Abducted ( 1986 ) on IMDb External links ( edit ) Dan Haggerty on IMDb Dan Haggerty at AllMovie Dan Haggerty at Find a Grave VIAF : 59294318 LCCN : no2002045972 ISNI : 0000 0000 5938 5073 GND : 1043513388 BNF : cb14184697c ( data ) Retrieved from `` https://en.wikipedia.org/w/index.php?title=Dan_Haggerty&oldid=801528343 '' Categories : 1941 births 2016 deaths American male television actors American male film actors Animal trainers Deaths from cancer in California Deaths from spinal cancer Male actors from California Actors from Los Angeles County , California American stunt performers Entertainers from California People from Marinette County , Wisconsin Hidden categories : Articles with hCards Find a Grave template with ID same as Wikidata Wikipedia articles with VIAF identifiers Wikipedia articles with LCCN identifiers Wikipedia articles with ISNI identifiers Wikipedia articles with GND identifiers Wikipedia articles with BNF identifiers Talk Contents About Wikipedia Bosanski Deutsch Nederlands Norsk Polski Simple English Srpskohrvatski / српскохрватски Suomi Türkçe Edit links This page was last edited on 20 September 2017 , at 06 : 11 . 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Question: who was the actor who played grizzly adams


Tierra del Fuego - wikipedia Tierra del Fuego Jump to : navigation , search This article is about the archipelago of Tierra del Fuego . For the island , see Isla Grande de Tierra del Fuego . For other uses , see Tierra del Fuego ( disambiguation ) . Tierra del Fuego archipelago Tierra del Fuego archipelago in the bottom half of the image Tierra del Fuego archipelago Political map of Tierra del Fuego and mainland South America Geography Location Pacific Ocean , Atlantic Ocean Major islands Tierra del Fuego , Hoste , Navarino , Gordon , Wollastone , Noir , Staten , Hermite , Santa Inés , Clarence , Dawson , Capitán Aracena , Londonderry , Picton , Lennox , Nueva , Diego Ramírez , O'Brien , and Desolación Islands among many others Highest point Mount Darwin Administration Chile Region Magallanes y Antártica Chilena Provinces Tierra del Fuego Province and Antártica Chilena Communes Cabo de Hornos , Antártica , Porvenir , Primavera , Timaukel Argentina Province Tierra del Fuego Demographics Population > 135,000 ( 2010 ) Ethnic groups Argentines , Chileans , Croats , Selknams , Yaghans Tierra del Fuego ( / tiˈɛərə dɛl ˈfweɪɡoʊ / , Spanish : ( ˈtjera ðel ˈfweɣo ) ; Spanish for `` Land of Fire '' ) is an archipelago off the southernmost tip of the South American mainland , across the Strait of Magellan . The archipelago consists of the main island , Isla Grande de Tierra del Fuego , with an area of 48,100 km ( 18,572 sq mi ) , and a group of many islands , including Cape Horn and Diego Ramírez Islands . Tierra del Fuego is divided between Chile and Argentina , with the latter controlling the eastern half of the main island and the former the western half plus the islands south of Beagle Channel . The southernmost extent of the archipelago is at about latitude 55 S . The earliest known human settlement in Tierra del Fuego dates to around 8,000 B.C. Europeans first explored the islands during Ferdinand Magellan 's expedition of 1520 ; Tierra del Fuego and similar namings stem from sightings of the many bonfires that the natives built . Settlement by those of European descent and the great displacement of the native populations did not begin until the second half of the 19th century , at the height of the Patagonian sheep farming boom and of the local gold rush . Today , petroleum extraction dominates economic activity in the north of Tierra del Fuego , while tourism , manufacturing , and Antarctic logistics are important in the south . Contents ( hide ) 1 History 1.1 Prehistory and European exploration 1.2 European colonization and extinction of Native Americans ( 1860 -- 1910 ) 1.3 Recent history ( 1940 -- present ) 2 Geography 2.1 Geology 2.2 Climate 2.3 Flora 2.4 Fauna 3 Economy 4 See also 5 Notes 6 References 7 External links History ( edit ) Prehistory and European exploration ( edit ) Selknam men hunting The earliest human settlement occurred around 8,000 BC . The Yaghan were some of the earliest known humans to settle in Tierra del Fuego . Archeological sites with characteristics of their culture have been found at locations such as Navarino Island . The name Tierra del Fuego derives from the Portuguese explorer Ferdinand Magellan ; sailing for the Spanish Crown , in 1520 he was the first European to visit these lands . He believed he was seeing the many fires ( fuego in Spanish ) of the Yaghan , which were visible from the sea , and that the `` Indians '' were waiting in the forests to ambush his armada . In 1525 Francisco de Hoces was the first to speculate that Tierra del Fuego was one or more islands rather than part of what was then called Terra Australis . Francis Drake in 1578 and a Dutch VOC expedition in 1616 learned more about the geography . The latter expedition named Cape Horn . On his first voyage with the HMS Beagle in 1830 , Robert FitzRoy picked up four native Fuegians , including `` Jemmy Button '' ( Orundellico ) and brought them to England . The surviving three were taken to London to meet the King and Queen and were , for a time , celebrities . They returned to Tierra del Fuego in the Beagle with FitzRoy and Charles Darwin , who made extensive notes about his visit to the islands . European colonization and extinction of native Americans ( 1860 -- 1910 ) ( edit ) View of Puerto Williams The city of Ushuaia See also : Tierra del Fuego gold rush , Selknam Genocide , and Patagonian sheep farming boom During the second half of the 19th century , the archipelago began to come under Chilean and Argentine influence . Both countries sought to claim the whole archipelago based on de jure Spanish colonial titles . Salesian Catholic missions were established in Río Grande and Dawson Island . Anglican missions were established by British colonists at Keppel Island in the Falklands in 1855 and in 1870 at Ushuaia on the main island , which continued to operate through the 19th century . Thomas Bridges ( 1842 -- 1898 ) learned the language and compiled a 30,000 - word Yaghan grammar and dictionary while he worked at Ushuaia . It was published in the 20th century and considered an important ethnological work . An 1879 Chilean expedition led by Ramón Serrano Montaner reported large amounts of placer gold in the streams and river beds of Tierra del Fuego . This prompted massive immigration to the main island between 1883 and 1909 . Numerous Argentines , Chileans and Croatians settled in the main island , leading to increased conflicts with native Selk'nam . Julius Popper , a Romanian explorer , was one of the most successful entrepreneurs in the region . Granted rights by the Argentine government to exploit any gold deposits he found in Tierra del Fuego , Popper has been identified as a central figure in the Selk'nam Genocide . Following contact with Europeans , the native Selk'nam and Yaghan populations were greatly reduced by unequal conflict and persecution by settlers , by infectious diseases to which the indigenous people had no immunity , and by mass transfer to the Salesian mission of Dawson Island . Despite the missionaries ' efforts , many natives died . Today , only a few Selk'nam remain . Some of the few remaining Yaghan have settled in Villa Ukika in Navarino Island ; others have scattered across Chile and Argentina . Following the signing of the Boundary Treaty of 1881 , Tierra del Fuego was divided between Argentina and Chile ; previously , it had been claimed in its entirety by both countries . The gold rushes of the late 19th century led to the founding of numerous small settlements by immigrants such as the Argentine settlements of Ushuaia and Río Grande and the Chilean settlements of Porvenir and Puerto Toro . Recent history ( 1940 -- present ) ( edit ) See also : Beagle conflict In 1945 a division of Chilean CORFO ( Spanish acronym for Production Development Corporation ) engaged in oil exploration made a breakthrough discovery of oil in northern Tierra del Fuego . Extraction began in 1949 , and in 1950 the state created ENAP ( National Petroleum Company ) to deal with oil extraction and prospecting . Until 1960 , most oil extracted in Chile came from Tierra del Fuego . During the 1940s Chile and Argentina formulated their Antarctic claims . The governments realized the key role of Tierra del Fuego 's geographical proximity in backing their claims as well as in supplying their Antarctic bases . In the 1950s , the Chilean military founded Puerto Williams to counter Ushuaia 's monopoly as the only settlement in the Beagle Channel , a zone where Argentina disputed the 1881 borders . In the 1960s and 1970s , sovereignty claims by Argentina over Picton , Lennox and Nueva Islands in Tierra del Fuego led the two countries in December 1978 to the brink of war . In response to the threat of an Argentine invasion , minefields were deployed and bunkers built on the Chilean side in some areas of Tierra del Fuego . The threat of war caused the Chilean Pinochet regime to give logistical support and information to the British during the Falklands War of 1982 . Chilean radar supplied the British with information on Argentine jet movements in Tierra del Fuego , from where the Argentine Air Force launched raids on targets in the Falklands . In 1986 the Argentine congress decided that the Argentine part of Tierra del Fuego should be a new province ; the law was not promulgated until 26 April 1990 . Geography ( edit ) The archipelago consists of a main island , Isla Grande de Tierra del Fuego , often called simply Tierra del Fuego or Isla Grande , with an area of 48,100 km ( 18,572 sq mi ) , and a group of smaller islands . The main island is split between two countries : 18,507.3 km ( 7,146 sq mi ) , 38.57 % of the total area , belongs to Argentina , while 29,484.7 km ( 11,384 sq mi ) , 61.43 % of the total area , belongs to Chile . The archipelago is divided by an east -- west channel , the Beagle Channel , immediately south of the main island . The largest islands south of the Beagle Channel are Hoste and Navarino . The western part of the main island , and almost all the other islands , belong to Chile . They are part of the Magallanes y Antártica Chilena Region , the capital and chief town of which is Punta Arenas , situated on the mainland across the strait . The biggest Chilean towns are Porvenir , capital of the Chilean Province of Tierra del Fuego , located on the main island ; and , on Navarino Island , Puerto Williams , which is the capital of the Antártica Chilena Province . Puerto Toro lies a few kilometers south of Puerto Williams and is arguably the southernmost village in the world . The mostly uninhabited islands north and west of the main island are part of Magallanes Province . The eastern part of the main island , and a few small islands in the Beagle Channel , belong to Argentina . They are part of the Tierra del Fuego , Antarctic Territory and South Atlantic Islands Province , whose capital is Ushuaia , the biggest city of the archipelago . The other important city in the region is Río Grande on the Atlantic coast . The Cordillera Darwin in the southwestern part of the main island contains many glaciers that reach the ocean . Mount Darwin is the highest peak at 2,488 metres ( 8,163 feet ) . Geology ( edit ) See also : Andean orogeny The geology of the archipelago is characterized by the effects of the Andean orogeny and the repeated Pleistocene glaciations . The geology of the island can be divided into large east -- west - oriented units . The southwestern islands of the archipelago , including Cape Horn , are part of the Patagonian Batholith , while Cordillera Darwin and the area around Beagle Channel form the principal codillera hosting the highest mountains . The Magallanes fold and thrust belt extends north of Almirantazgo Fjord and Fagnano Lake , and north of this lies the Magallanes foreland ; an old sedimentary basin that hosts hydrocarbon reserves . Orthogneiss dated at 525 million years is known to underlie some of the oil wells in northern Tierra del Fuego . The Magallanes -- Fagnano Fault , a dextral strike slip fault crosses the southern part of the main island from west to east . It is an active fault , located inside and parallel to the Fuegian fold and thrust belt , and marks the boundary between a southern belt of Paleozoic meta sediments and a northern Mesozoic belt of sedimentary sequences . Fagnano Lake occupies a glacier - carved depression in a pull - apart basin that has developed along the Magallanes - Fagnano Fault zone . Podzols and inceptisols occur beneath Nothofagus betuloides forests in Tierra del Fuego . Climate ( edit ) This region has a subpolar oceanic climate ( Köppen climate classification Cfc ) with short , cool summers and long , wet , moderately mild winters : the precipitation averages 3,000 mm ( 118 in ) a year in the far west , but precipitation decreases rapidly to the eastern side . Temperatures are steady throughout the year : in Ushuaia they hardly surpass 9 ° C ( 48 ° F ) in summers and average 0 ° C ( 32 ° F ) in winters . Snowfall can occur in summer . The cold and wet summers help preserve the ancient glaciers . The southernmost islands possess a sub-antarctic climate typical of tundra that makes the growth of trees impossible . Some areas in the interior have a polar climate . Regions in the world with similar climates to southern Tierra del Fuego are : the Aleutian islands , Iceland , the Alaska Peninsula , the Faroe Islands , Macquarie Island , and the Heard and McDonald Islands . Flora ( edit ) Only 30 % of the islands have forests , which are classified as Magellanic subpolar . The northeast is made up of steppe and cool semi-desert . Six species of tree are found in Tierra del Fuego : canelo or winter 's bark ( Drimys winteri ) , Maytenus magellanica , Pilgerodendron uviferum , the southernmost conifer in the world , and three kinds of southern beech : Nothofagus antarctica , Nothofagus pumilio , and the evergreen Nothofagus betuloides . Several kinds of fruit grow in open spaces in these forests , such as beach strawberry ( Fragaria chiloensis var . chiloensis forma chiloensis ) and calafate ( Berberis buxifolia ) , which have long been gathered by both Native Americans and residents of European descent . These forests are unique in the world for having developed in a climate with such cold summers . Tree cover extends very close to the southernmost tip of South America . Winds are so strong that trees in wind - exposed areas grow into twisted shapes , inspiring people to call them `` flag - trees '' . Tree vegetation extends as far south as the Isla de los Estados , Navarino Island , and the northern part of Hoste Island . Dwarf nothofagus communities are found at altitudes above 500 m ( 1,640 ft ) . Going farther south , Wollaston Islands and the southern part of Hoste Island are covered by subantarctic tundra . Flora in Tierra del Fuego Drimys winteri flowers Nothofagus antarctica Nothofagus pumilio Nothofagus betuloides Forests from Tierra del Fuego have expanded beyond local importance ; they have been a source of trees that have been planted abroad in places with practically the same climate but which were originally devoid of trees , such as the Faroe Islands and nearby archipelagos . Most species were gathered from the coldest places in Tierra del Fuego , mainly sites with tundra borders . This effort resulted in positive changes , as the heavy winds and cool summers in the Faroe Islands did not allow the growth of trees from other regions in the world . The imported trees are used ornamentally , as curtains against wind , and for fighting erosion caused by storms and grazing in the Faroe Islands . Fauna ( edit ) See also : Beaver eradication in Tierra del Fuego Sea lions at Isla de los Lobos in the Beagle Channel , near Ushuaia Among the most notable animals in the archipelago are austral parakeets , sea gulls , guanacos , foxes , kingfishers , condors , king penguins , owls , and firecrown hummingbirds . North American beavers , introduced during the 1940s , have proliferated and caused considerable damage to the island 's forests . The governments have established a wide - reaching program to trap and kill beavers in Tierra del Fuego . Like the mainland of Chile and Argentina to the north , this archipelago boasts some of the finest trout fishing in the world . Sea - run brown trout often exceed 9 kg ( 20 lb ) , particularly in rivers such as the Rio Grande and the San Pablo and in the Lago Fagnano . Much of this water is privately owned , with catch and release and fly fishing only . Waters adjacent to Tierra del Fuego are very rich in cetacean diversity . Sightings of southern right whales in Tierra del Fuego have increased in the 2000s , as well as humpbacks and some others such as blue whales , southern fins , southern seis , and southern minkes . Beagle Channel is a prominent area to watch rare , endemic dolphins , and the less - studied pygmy right whales . Pinnipeds inhabiting the areas include South American sea lions , South American fur seals , carnivorous leopard seals ( seal - eating seal ) and gigantic southern elephant seals . Economy ( edit ) Today , the main economic activities are fishing , natural gas and oil extraction , sheep farming , and ecotourism . Tourism is gaining in importance and becoming increasingly important as it attracts numerous upmarket visitors . Much of the tourism is based on claims of `` southernmost '' things : for example , both Ushuaia and Puerto Williams claim to be the `` southernmost city in the world . '' On the Argentine side of Tierra del Fuego , the government has promoted the establishment of several electronic companies . Energy production is a crucial economic activity . On the Argentine side of Tierra del Fuego during the 2005 to 2010 period , petroleum and natural gas extraction contributed to 20 % of the region 's economic output . See also ( edit ) Alberto de Agostini National Park Beagle conflict Beaver eradication in Tierra del Fuego Mamihlapinatapai The Voyage of the Beagle Tierra del Fuego National Park Yaghan language Notes ( edit ) Jump up ^ Iparraguirre , Sylvia . Tierra del fuego : a biography of the end of the world . p. 146 . Jump up ^ Hogan , C. Michael ( 4 April 2008 ) . `` Bahia Wulaia Dome Middens '' . Megalithic Portal . Retrieved 20 June 2011 . Jump up ^ Bergreen , Laurence ( 2003 ) . Over the Edge of the World : Magellan 's Terrifying Circumnavigation of the Globe . HarperCollins . p. 179 . ISBN 978 - 0 - 06 - 186588 - 6 . ^ Jump up to : `` Cook Tried to Steal Parson 's Life Work '' . New York Times . 21 May 1910 . Retrieved 30 May 2011 . Jump up ^ Martinić , Mateo ( 1982 ) , La Tierra de los Fuegos ( in Spanish ) , Punta Arenas , Chile : Municipalidad de Porvenir , pp. 164 -- 171 Jump up ^ `` Historia de Tierra del Fuego '' ( in Spanish ) . Tierradelfuego.gov.ar . Archived from the original on 17 July 2011 . Retrieved 20 June 2011 . Jump up ^ Menichetti , M. ; Lodolo , E. ; Tassone , A. ( March 2008 ) . `` Structural geology of the Fuegian Andes and Magallanes fold - and - thrust belt -- Tierra del Fuego Island '' . Geologica Acta. 6 ( 1 ) . Retrieved 20 June 2011 . Jump up ^ Hervé , Francisco ; Miller , Hubert ; Pimpirev Christo. 2003 . Patagonia -- Antarctica Connections before Gondwana Break - Up in Antarctica Contributions to Global Earth Sciences . Chapter 5.1 Jump up ^ Lodolo , Emanuele ; Menichetti , Marco ; Bartole , Roberto ; Ben ‐ Avraham , Zvi ; Tassone , Alejandro ; Lippai , Horacio ( 2003 ) . `` Magallanes - Fagnano continental transform fault ( Tierra del Fuego , southernmost South America ) '' . Tectonics. 22 ( 6 ) : 1076 . Bibcode : 2003Tecto ... 22.1076 L . doi : 10.1029 / 2003TC001500 . Jump up ^ Gerding , Victor ; Thiers , Oscar ( 2002 ) , `` Characterization of soils of Nothofagus betuloides ( Mirb ) Blume forests , in Tierra del Fuego , Chile '' , Revista chilena de historia natural ( in Spanish ) , 75 ( 4 ) : 819 -- 833 Jump up ^ Martínez Crovetto , Raúl. 1968 . Estudios Etnobotánicos . Nombres de plantas y su utilidad según los indios Onas de Tierra del Fuego , Revista de la Facultad de Agronomía y Veterinaria de la Universidad del Nordeste , Corrientes , Argentina Jump up ^ Højgaard , A. , J. Jóhansen , and S. Ødum ( eds ) 1989 . A Century of Tree Planting in the Faroe Islands , Føroya Frodskaparfelag , Tórshavn . Jump up ^ Strieker , Gary ( 9 July 1999 ) . `` Argentina eager to rid island of beavers '' . Cable News Network . Retrieved 30 June 2007 . Jump up ^ https://webcache.googleusercontent.com/search?q=cache:LetUsI438EAJ:iwc.int/document_1215.download+&cd=1&hl=en&ct=clnk&gl=nz Jump up ^ `` Hoy en Rio Grande , Tierra del Fuego ( ballena ) '' . Jump up ^ Goodall , R. Natalie P. ; Benegas , G.L. ; Dellabianca , N. ; Riccialdelli , L. ; Pimper , E.L. ( 17 January 2014 ) . `` The Presence of Southern Right Whales off Eastern Tierra del Fuego , 1987 -- 2011 '' ( PDF ) . Archived from the original ( PDF ) on May 5 , 2014 . Retrieved 2014 - 05 - 06 . Jump up ^ `` Whale Watching in the Southern Cone -- Argentina '' . Jump up ^ `` Whale Watching in the Southern Cone -- Gallery '' . Jump up ^ `` Blue Whale ( Balaenoptera musculus ) on Tierra del Fuego Check List '' . Jump up ^ `` Minke Whale ( Sei Whale ? ) '' -- via Flickr . Jump up ^ `` Minke Whale ( Balaenoptera acutorostrata ) on Tierra del Fuego Check List '' . Jump up ^ `` Record of a dwarf minke whale ( Balaenoptera acutorostrata ) in northern Brazil '' ( PDF ) . Jump up ^ `` Scotia Sea : Part 5 . The Great Marine Mammals '' . Jump up ^ `` Sailing to the Sea Lions and Les Eclaireurs Lighthouse in Catamarans '' . Archived from the original on January 20 , 2013 . Jump up ^ `` Southern Sea Lions : Tierra del Fuego , Argentina '' . September 25 , 2011 . Jump up ^ `` Mark Horrell : Tierra del Fuego '' -- via Flickr . Jump up ^ `` Ballenas en el Canal de Beagle '' . Jump up ^ `` Ushuaia Photo : leopard seal '' . Jump up ^ `` Expedition Uncovers Wildlife Wonders at Tierra del Fuego '' . February 25 , 2011 . Archived from the original on July 9 , 2011 . Jump up ^ `` Cruceros Australis -- Fjords of Tierra del Fuego , Patagonia & Cape Horn , Punta Arenas -- Ushuaia -- Punta Arenas '' . Archived from the original on May 5 , 2014 . Jump up ^ `` Instituto Nacional de Estadística y Censos '' . References ( edit ) Bridges , Lucas . 1948 . Uttermost Part of the Earth . Reprint with introduction by Gavin Young , Century Hutchinson , 1987 . ISBN 0 - 7126 - 1493 - 1 Keynes , Richard . 2002 . Fossils , Finches and Fuegians : Charles Darwin 's Adventures and Discoveries on the Beagle , 1832 -- 1836 . HarperCollins Publishers , London . Reprint : 2003 . Bollen , Patrick . 2000 . `` Tierra del Fuego '' B / W Photobook . Lannoo Publishers , Tielt , Belgium . ISBN 90 - 209 - 4040 - 6 External links ( edit ) Wikivoyage has a travel guide for Tierra del Fuego . Wikimedia Commons has media related to Tierra del Fuego . Official website of Argentine Tierra del Fuego Chile Cultural Society -- Tierra del Fuego Chisholm , Hugh , ed. ( 1911 ) . `` Tierra del Fuego '' . Encyclopædia Britannica ( 11th ed . ) . Cambridge University Press . Coordinates : 54 ° S 70 ° W  /  54 ° S 70 ° W  / - 54 ; - 70 Retrieved from `` https://en.wikipedia.org/w/index.php?title=Tierra_del_Fuego&oldid=818362872 '' Categories : Tierra del Fuego Archipelagoes of Argentina Archipelagoes of Chile Archipelagoes of the Pacific Ocean Islands of Magallanes y la Antártica Chilena Region Landforms of Tierra del Fuego Province , Argentina Patagonia Natural regions of South America Divided regions Regions of Argentina Regions of Chile Regions of South America Hidden categories : CS1 Spanish - language sources ( es ) All articles with dead external links Articles with dead external links from August 2016 Wikipedia articles needing clarification from February 2016 All articles with unsourced statements Articles with unsourced statements from September 2011 Wikipedia articles incorporating a citation from the 1911 Encyclopaedia Britannica with Wikisource reference Coordinates on Wikidata Use dmy dates from May 2012 Talk Contents About Wikipedia Wikivoyage Afrikaans Alemannisch Ænglisc Asturianu Azərbaycanca বাংলা Башҡортса Беларуская Беларуская ( тарашкевіца )  Български Bosanski Brezhoneg Català Cebuano Čeština Cymraeg Dansk Deutsch Eesti Ελληνικά Español Esperanto Euskara فارسی Français Frysk Galego 한국어 Հայերեն हिन्दी Hrvatski Bahasa Indonesia Ирон Íslenska Italiano עברית ქართული Latina Latviešu Lietuvių Lumbaart Magyar Македонски മലയാളം मराठी მარგალური Nederlands 日本 語 Norsk Norsk nynorsk Occitan Oʻzbekcha / ўзбекча پنجابی Polski Português Română Runa Simi Русский Scots Shqip Simple English Slovenčina Slovenščina Српски / srpski Srpskohrvatski / српскохрватски Suomi Svenska Tagalog Taqbaylit Татарча / tatarça ไทย Türkçe Українська Tiếng Việt 粵語 中文 Edit links This page was last edited on 3 January 2018 , at 03 : 15 . 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Question: where is the tierra del fuego located on a map

off the southernmost tip of the South American mainland, across the Strait of Magellan


Suburbanization - wikipedia Suburbanization Jump to : navigation , search ( hide ) This article has multiple issues . Please help improve it or discuss these issues on the talk page . ( Learn how and when to remove these template messages ) The examples and perspective in this article or section might have an extensive bias or disproportional coverage towards one or more specific regions . Please improve this article or discuss the issue on the talk page . ( December 2009 ) ( Learn how and when to remove this template message ) This article may need to be rewritten entirely to comply with Wikipedia 's quality standards . You can help . The discussion page may contain suggestions . ( May 2015 ) ( Learn how and when to remove this template message ) A suburban land use pattern in the US Suburbanization is a population shift from central urban areas into suburbs , resulting in formation of ( sub ) urban sprawl . Sub-urbanization is inversely related to urbanization , which denotes population shift from rural areas into urban centres . Many residents of metropolitan regions work within the central urban area , and choose to live in satellite communities called suburbs and commute to work via automobile or mass transit . Others have taken advantage of technological advances to work from their homes . These processes often occur in more economically developed countries , especially in the United States , which is believed to be the first country in which the majority of the population lives in the suburbs , rather than in the cities or in rural areas . Proponents of containing urban sprawl argue that sprawl leads to urban decay and a concentration of lower income residents in the inner city . Contents ( hide ) 1 United States 2 Suburbanization in Eastern Europe 3 Tijuana 4 Effects on psychological health 5 Economic impacts 5.1 Impact on urban industry 5.2 Consequences on infrastructure 5.3 Impact on real estate development costs 5.4 Fiscal impact 5.5 Effect on urban diversity 6 See also 7 References United States ( edit ) In the United States , suburbanization began to occur in mass amounts after World War II when soldiers returned home from war and wanted to live in houses outside of the city . During this time America had a prosperous postwar economy and there was more leisure time available and an in creating a family unit . Throughout the years , the desire to separate work life and home life has increased causing an increase in suburban populations . Suburbs are built for particular groups of people and around certain industries like restaurants , shopping , and entertainment which allows suburban residents to travel less and interact more in the suburban area . Suburbs in the United States have also evolved by increases in technology which allows residents to work from home rather than commute . Recent developments in communication technology , such as the spread of broadband services , the growth of e-mail and the advent of practical home video conferencing , has enabled more people to work from home rather than commuting . Although this can occur either in the city or in the suburbs , the effect is generally decentralizing , which works against the largest advantage of the centre city , which is easier access to information and supplies due to centralization . Similarly , the rise of efficient package express delivery systems , such as FedEx and UPS , which take advantage of computerization and the availability of an efficient air transportation system , also eliminates some of the advantages that were once to be had from having a business located in the city . Industrial , warehousing , and factory land uses have also moved to suburban areas . Cheap telecommunications removes the need for company headquarters to be within quick courier distance of the warehouses and ports . Urban areas suffer from traffic congestion , which creates costs in extra driver costs for the company which can be reduced if they were in a suburban area near a highway . As with residential , lower property taxes and low land prices encourage selling industrial land for profitable brownfield redevelopment . Suburban areas also offer more land to use as a buffer between industrial and residential and retail space to avoid NIMBY sentiments and gentrification pressure from the local community when residential and retail is adjacent to industrial space in an urban area . Suburban municipalities can offer tax breaks , specialized zoning , and regulatory incentives to attract industrial land users to their area , such as City of Industry , California . The overall effect of these developments is that businesses as well , and not just individuals , now see an advantage to locating in the suburbs , where the cost of buying land , renting space , and running their operations , is cheaper than in the city . This continuing dispersal from a single city center has led to other recent phenomena in American suburbs , the advent of edge cities and exurbs , arising out of clusters of office buildings built in suburban commercial centers on shopping malls and higher density developments . With more and more jobs for suburbanites being located in these areas rather than in the main city core that the suburbs grew out of , traffic patterns , which for decades centered on people commuting into the center city to work in the morning and then returning home in the evening , have become more complex , with the volume of intra-suburban traffic increasing tremendously . By 2000 , half of the US population lived in suburban areas . Suburbanization in eastern Europe ( edit ) In many countries of Europe , sometimes cities became seen as dangerous or very expensive areas to live , while the suburbs were seen as safe places to live and raise a family . There are periods of opposite developments like urbanization . During Communism , most socialist countries in the Eastern Bloc were characterized by under - urbanization , which meant that industrial growth occurred well in advance of urban growth and was sustained by rural - urban commuting . City growth , residential mobility , land and housing development were under tight political control . Consequently , sub-urbanization in post-communist Europe is not only a recent but also a particular phenomenon . The creation of housing and land markets and state withdrawal from housing provision have led to the development of privatized modes of housing production and consumption , with an increasing role for private actors and , particularly , for households . Yet , the regulatory and institutional frameworks indispensable to a market - driven housing system -- including housing finance -- have remained underdeveloped , particularly in south - eastern Europe . This environment has undoubtedly stimulated housing self - provision . Clearly , different forces have shaped different outcomes . Post-communist suburbanization in Pitesti , Romania Long - suppressed urbanization and a dramatic housing backlog resulted in extensive peri-urban growth in Tirana ( Albania ) , which during the 1990s doubled the size of the city whereas war refugees put pressure on cities of former Yugoslavia . Elsewhere processes of suburbanization seemed dominant , but their pace differed according to housing shortages , available finance , preferences and the degree of ' permitted ' informality . The process was slow in Prague during the 1990s and more apparent after 2000 , when housing affordability improved . Conversely , Slovenian and Romanian suburban developments visibly surrounded cities / towns during the 1990s . Nonetheless , socialist legacies of underdeveloped infrastructure and the affordability crisis of transition differentiate post-socialist suburbs from their Western counterparts . Various degrees of informality characterized suburban housing from illegal occupation of public land ( Tirana ) , illegal construction on agricultural private land ( Belgrade ) to the unauthorized but later legalized developments in Romania . Suburban housing displayed a chaotic / unplanned character , especially in south - eastern Europe where the state retains a degree of illegitimacy . Excepting scattered for - profit housing , much of the new detached suburban houses seem self - developed . Allegedly , owner - building has become a household strategy to adapt to recession , high and volatile inflation , to cut construction costs and , finally , to bridge access to housing . The predominantly owner - built feature of most suburban housing , with the land often obtained at no cost through restitution policies or illegal occupation , allowed a mix of low - / middle - income households within these developments . Tijuana ( edit ) Tijuana has experienced a strong wave of suburbanization from its urban core beginning in 2006 . Historically , Tijuana city , with 1 / 4 the area covering 80 square miles , contained well over 95 % of the total population of the municipality , and it was the poor relegated to living outside the city . Despite good highways , however , there was little incentive to move out of the city . However , with a huge escalation of the Mexico drug war violence , middle class city residents and property developers along with retail chains began building suburban communities and sold them as way to isolate themselves and their children from the negative effects . This led to a historic movement to communities outside the urban core , as evidenced by both the type of middle class housing developments and 2010 INEGI census figures . Effects on psychological health ( edit ) Historically it was believed that living in highly urban areas resulted in social isolation , social disorganization , and psychological problems , while living in suburbs was supposed to be better to overall happiness , due to lower population density , lower crime , and a more stable population . A study based on data from 1974 , however , found this not to be the case , finding that people living in suburbs had neither greater satisfaction with their neighborhood nor greater satisfaction with the quality of their lives as compared to people living in urban areas . Economic Impacts ( edit ) The economic impacts of suburbanization have become very evident since the trend began in the 1950s . Changes in infrastructure , industry , real estate development costs , fiscal policies , and diversity of cities have been easily apparent , as `` making it to the suburbs '' , mainly in order to own a home and escape the chaos of urban centers , have become the goals of many American citizens . These impacts have many benefits as well as side effects and are becoming increasingly important in the planning and revitalization of modern cities . Impact on urban industry ( edit ) Sprawling Freeway near Toronto , Canada with a suburbanized industry area in the background . Note the far distances from office buildings compared to a downtown . Many office buildings in suburban industry areas are set up on large irrigated campus , versus downtowns that have close buildings and very little greenery . The days of industry dominating the urban cores of cities are diminishing as population decentralization of urban centers increases . Companies increasingly look to build industrial parks in less populated areas , largely for more modern buildings and ample parking , as well as to appease the popular desire to work in less congested areas . Government economic policies that provide incentives for companies to build new structures and lack of incentives to build on Brownfield land also contribute to the flight of industrial development from major cities to surrounding suburban areas . As suburban industrial development becomes increasingly more profitable , it becomes less financially attractive to build in high - density areas . Another impact of industry leaving the city is the reduction of buffer zones separating metropolitan areas , industrial parks and surrounding suburban residential areas . As this land becomes more economically relevant , the value of such properties very often increases , causing many undeveloped landowners to sell their land . Consequences on infrastructure ( edit ) Los Angeles suburbanization continues and America continues to sprawl , the cost of the required water lines , sewer lines , and roads could cost more than $21,000 per residential and non residential development unit , costing the American government $1.12 trillion over the next twenty five years . Along with the costs of infrastructure , existing infrastructure suffers , as most of the government 's money that is dedicated to improving infrastructure goes to paying for the new necessities in areas further out from the urban core . As a result , the government will often forgo maintenance on previously built infrastructure . Impact on real estate development costs ( edit ) For residential properties , suburbanization allows for home prices to decrease , so people can drive until they can find an area in which they can afford to buy a home . However , these homes may lack certain things such as parks and access to public transit . Also , the prices of homes in downtown center usually decreases as well to compete with the inexpensive homes in the suburbs . One of the main benefits of living in the suburbs is that one gets a much larger piece of land than one would in the city . Therefore , as the size of lots increases , the supply of housing is more limited . This is to mean that as city growth patterns increase the population increases leading to suburbanisation which hence leads to the under development of real estate since it is a business . Fiscal impact ( edit ) The fiscal deficit grows as a result of suburbanization , mainly because in less densely populated areas , property taxes tend to be lower . Also , because of the typical spread pattern of suburban housing , the lack of variety of housing types , and the greater distance between homes , real estate development and public service costs increase , which in turn increase the deficit of upper levels of government . Effect on urban diversity ( edit ) As the trend of suburbanization took hold , many of the people who left the city for the suburbs were white . As a result , there was a rise in black home ownership in central cities . As white households left for the suburbs , housing prices in transition neighborhoods fell , which often lowered the cost of home ownership for black households . This trend was stronger in older and denser cities , especially in the northeast and Midwest , because new construction was generally more difficult . As of the 2010 Census , minorities like African Americans , Asian Americans and Indo - Americans have become an increasing large factor in recent suburbanization . Many suburbs now have since 1990 large minority communities in suburban and commuter cities . Environmental Impacts With the growth of suburbanization and the spread of people living outside the city this can cause negative impacts on the environment . Suburbanization has been linked to the increase in vehicle mileage , increase land use , and increase in residential energy consumption . From these factors of suburbanization it has then caused a degradation of air quality , increase usage of natural resources like water and oil , as well as increased amounts of greenhouse gas . With the increased use of vehicles to commute to and from the work place this causes increased use of oil and gas as well as increase in emissions . With the increase in emissions from vehicles this then can cause air pollution and degrades the air quality of an area . Suburbanization is growing which causes an increase in housing development which causes an increase in land consumption and available land . Suburbanization has also been linked to increase in natural resource use like water to meet residents ' demands and to maintain suburban lawns . Also with the increase in technology and consumptions of residents there is an increase in energy consumption with the amount of electricity used by residents . See also ( edit ) Urbanisation Counter urbanisation References ( edit ) Notes Jump up ^ `` Slow Growth and Urban Sprawl : Support for a New Regional Agenda ? , '' Juliet F. Gainsborough , Urban Affairs Review , vol. 37 , no . 5 ( 2002 ) : 728 - 744 . Jump up ^ Benson , Sonia , ed. ( 2009 ) . `` Suburbanization '' . UXL Encyclopedia of U.S History . pp. 1498 -- 1501 . ^ Jump up to : US Census Bureau ( 2002 ) . Demographic Trends in the 20th Century Jump up ^ Murray , P. , & Szelenyi , I. ( 1984 ) . The city in the transition to socialism . International Journal of Urban and Regional Research , 8 ( 10 ) , 90 - 107 Jump up ^ Tsenkova , S. ( 2009 ) . Housing Policy Reforms in Post-Socialist Europe : Lost in Transition . Heidelberg : Physica - Verlag ^ Jump up to : Soaita , A.M. ( 2013 ) . Romanian suburban housing : home improvement through owner - building . Urban Studies , 50 ( 10 ) , 2084 - 2101 . doi : 10.1177 / 0042098012471980 Jump up ^ Stanilov , K. ( Ed . ) . ( 2007 ) . The Post-Socialist City . Urban Form and Space Transformations in Central and Eastern Europe after Socialism . Dordrecht : Springer Jump up ^ Hirt , S.A. ( 2012 ) . Iron Curtains : Gates , Suburbs and Privatization of Space in the Post-Socialist City Pondicherry : Wiley - Blackwell Jump up ^ Hirt , S. , & Petrovic , M. ( 2011 ) . The Belgrade wall : The proliferation of gated housing in the Serbian capital after socialism . International Journal of Urban and Regional Research , 35 ( 4 ) , 753 -- 777 Jump up ^ Kahrik , A. , & Tammaru , T. ( 2008 ) . Population composition in new suburban settlements of the Tallinn metropolitan area . Urban Studies , 45 ( 5 / 6 ) , 1055 -- 1078 Jump up ^ Krisjane , Z. , & Berzins , M. ( 2012 ) . Post-socialist Urban Trends : New Patterns and Motivations for Migration in the Suburban Areas of Rīga , Latvia . Urban Studies , 49 ( 2 ) , 289 - 306 . doi : 10.1177 / 0042098011402232 Jump up ^ Sykora , L. , & Ourednicek , M. ( 2007 ) . Sprawling post-communist metropolis : Commercial and residential suburbanisation in Prague and Brno , the Czech Republic . In E. Razin , M. Dijst & C. Vazquez ( Eds . ) , Employment Deconcentration in European Metropolitan Areas . Market Forces versus Planning ( pp. 209 - 233 ) . Dordrecht : Springer Jump up ^ Richard E. Adams , `` Is happiness a home in the suburbs ? : The influence of urban versus suburban neighborhoods on psychological health '' , Journal of Community Psychology , Vol. 20 , No. 4 , pp. 353 - 372 . Jump up ^ Opp , Susan M. ; Herberle , Lauren ( June 28 , 2008 ) . Local Sustainable Urban Development in a Globalized World . Florence , Kentucky : Routledge . ISBN 0754649946 . Jump up ^ Soule , David ( 2006 ) . Urban Sprawl : A Comprehensive Reference Guide . London : Greenwood Press . pp. 88 -- 89 . Jump up ^ Anthony Downs ; Barbara McCann ; Sahan Mukherji ; Robert Burchell ( 2005 ) . Sprawl Costs : Economic Impacts of Unchecked Development . Island Press . p. 63 . Jump up ^ Anthony Downs ; Barbara McCann ; Sahan Mukherji ; Robert Burchell ( 2005 ) . Sprawl Costs : Economic Impacts of Unchecked Development . Island Press . pp. 71 -- 72 . Jump up ^ Anthony Downs ; Barbara McCann ; Sahan Mukherji ; Robert Burchell ( 2005 ) . Sprawl Costs : Economic Impacts of Unchecked Development . Island Press . pp. 80 -- 81 . Jump up ^ Leah Platt Boustan ; Robert A. Margo ( 2011 ) . `` WHITE SUBURBANIZATION AND AFRICAN - AMERICAN HOME OWNERSHIP , 1940 - 1980 '' . National Bureau of Economic Research . Retrieved 2011 - 02 - 27 . Jump up ^ Kahn , Matthew E ( 2000 ) . `` The Environmental Impact of Suburbanization '' . Journal of Policy Analysis and Management : 569 -- 586 . Bibliography Burchell , Downs , McCann , Mukherji. ( 2005 ) `` Sprawl Costs : Economic Impacts of Unchecked Development '' London , Island Press . Boustan , Margo . `` WHITE SUBURBANIZATION AND AFRICAN - AMERICAN HOME OWNERSHIP , 1940 - 1980 '' . National Bureau of Economic Research January 2011 18 Fishman , Robert . ( 1987 ) Bourgeois Utopias : The Rise and Fall of Suburbia New York : Basic Books . Garreau , Joel . ( 1992 ) Edge City : Life on the New Frontier New York : Anchor Books . Hayden , Delores. ( 2004 ) Building Suburbia : Green Fields and Urban Growth , 1820 - 2000 New York , Vintage . Jackson , Kenneth T. ( 1985 ) , Crabgrass Frontier : The Suburbanization of the United States , New York : Oxford University Press , ISBN 0 - 19 - 504983 - 7 Wiese , Andrew . ( 2006 ) `` African American Suburban Development in Atlanta '' Southern Spaces . http://southernspaces.org/2006/african-american-suburban-development-atlanta Wiese , Andrew . ( 2005 ) Places of Their Own : African American Suburbanization in the Twentieth Century Chicago , University of Chicago Press . Soule , David . ( 2006 ) `` Urban Sprawl : A Comprehensive Reference Guide '' London , Greenwood Press . Jump up ^ Massey , Douglas S. ; Denton , Nancy A. ( 1988 ) . `` Suburbanization and Segregation in US Metropolitan Areas '' . American Journal of Sociology . 94.3 . Jump up ^ McIntosh , Peggy ( 1988 ) . White Privilege and Male Privilege : A Personal Account of Coming to See Correspondences through Work in Women 's Studies . Wellesley , MA : Center for Research on Women . Jump up ^ Mieszkowski , Peter ; Mills , Edwin S. ( 1993 ) . `` The Causes of Metropolitan Suburbanization '' . Journal of Economic Perspectives. 7.3 ( 3 ) : 135 -- 47 . doi : 10.1257 / jep. 7.3. 135 . Jump up ^ Pulido , Laura ( March 2000 ) . `` Rethinking Environmental Racism : White Privilege and Urban Development in Southern California '' . Department of Geography at the University of Southern California . Jump up ^ Oliveira , N. Dos Santos ( 1996 ) . `` Favelas and Ghettos : Race and Class in Rio De Janeiro and New York City '' . Latin American Perspectives. 23.4 ( 4 ) : 71 -- 89 . doi : 10.1177 / 0094582x9602300406 . Retrieved from `` https://en.wikipedia.org/w/index.php?title=Suburbanization&oldid=816389049 '' Categories : Urban planning Urban decay Urban sprawl Hidden categories : Articles with disproportional geographic scope from December 2009 Wikipedia articles needing rewrite from May 2015 All articles needing rewrite Articles with multiple maintenance issues Talk Contents About Wikipedia Български Čeština Deutsch Eesti Français 한국어 Magyar Nederlands 日本 語 Polski Português Русский Slovenčina Српски / srpski Українська Edit links This page was last edited on 21 December 2017 , at 01 : 03 . Text is available under the Creative Commons Attribution - ShareAlike License ; additional terms may apply . By using this site , you agree to the Terms of Use and Privacy Policy . Wikipedia ® is a registered trademark of the Wikimedia Foundation , Inc. , a non-profit organization . About Wikipedia

Question: suburbanization of more developed countries is mostly due to

Many residents of metropolitan regions work within the central urban area, and choose to live in satellite communities called suburbs and commute to work