Time Series for Macroeconomics and Finance

8/3/2019 Time Series for Macroeconomics and Finance

1/125

A4i 5ihit uLh @UhLiUL?L4Ut @?_ 6?@?Ui

aL? O LUh@?i4

Bh@_@|i 5ULL* Lu t?ittN?iht|) Lu U@}L

f , DH| 5|U@}L Ww SfS.

E.. .f2fDb

L?ULUh@?i9}tMUU@}Li_

5Th?} bb.

L wkdqn Jlrujlr GhVdqwlv iru pdq| xvhixo frpphqwv rq wklv pdqxvfulsw1


2/125

L?|i?|t

hiu@Ui S

2 `@| t @ |4i tihitq .

+ 4L_i*t b `|i ?Lti b2 @tU + 4L_i*t f w@} LTih@|Lht @?_ TL*)?L4@*t f

@?T*@|?} +t | *@} LTih@|Lht 2 +E |L E4 M) hiUhti tMt|||L? +E |L E4 | *@} LTih@|Lht 2e +ET |L E4c E^ |L +E4c u@U|Lh?} *@}

TL*)?L4@*tc @?_ T@h|@* uh@U|L?t D 544@h) Lu @**Li_ *@} TL*)?L4@* 4@?T*@|L?t D

e *|@h@|i + 4L_i*t SD hLM*i4t @?_ AhU!t H

e Ai @|LULhhi*@|L? @?_ @|LUL@h@?Ui u?U|L?t be #i?|L?t be2 |LUL@h@?Ui @?_ @|LULhhi*@|L? Lu + ThLUittit 2f

e2 544@h) 2e u?_@4i?|@* hiThiti?|@|L? 2eee _4ttM*i @|LULhhi*@|L? u?U|L?t 2DeD *|@h@|i @|L @?_ UhLtt ULhhi*@|L?t 2.

D hi_U|L? @?_ W4T*ti+itTL?ti 6?U|L?t 2bD hi_U|?} + 4L_i*t f


3/125

D2 5|@|i tT@Ui hiThiti?|@|L? 2D2 +t ? iU|Lh +E hiThiti?|@|L? 2D22 6LhiU@t|t uhL4 iU|Lh +E hiThiti?|@|L? D2 V+t ? iU|Lh +E hiThiti?|@|L?

D W4T*tihitTL?ti u?U|L? D

D 6@U|t @ML| 4T*tihitTL?tit S

S 5|@|L?@h|) @?_ L*_ hiThiti?|@|L? .S #i?|L?t .S2 L?_|L?t uLh t|@|L?@h) +


4/125

H 5TiU|h@* +iThiti?|@|L? S2H 6@U|t @ML| UL4T*i ?4Miht @?_ |h}L?L4i|h) S2

H #i?|L?t S2H2 __|L?c 4*|T*U@|L?c @?_ UL?}@|L? SH Ah}L?L4i|hU _i?||it Se

He 6hi^i?U)c TihL_ @?_ T@ti SeHD 6Lhih |h@?tuLh4t SeHS `) UL4T*i ?4Mihtq SS

H2 5TiU|h@* _i?t|) S.H2 5TiU|h@* _i?t|it Lu tL4i ThLUittit SHH22 5TiU|h@* _i?t|) 4@|hc UhLtt tTiU|h@* _i?t|) SbH2 5TiU|h@* _i?t|) Lu @ t4 .f

H 6*|ih?} .

H 5TiU|h4 Lu *|ihi_ tihit .H2 *|@h@|i *|ih?} uLh4*@ .2H 5TiU|h@* _i?t|) Lu @hM|h@h) E4 .2He 6*|ih?} @?_ w5 .HD ULt?i i@4T*i .eHS hLtt tTiU|h@* _i?t|) Lu |L *|ihtc @?_ @? ?|ihThi

|@|L? Lu tTiU|h@* _i?t|) .DH. L?t|hU|?} *|iht ..HH 54t @TThL4@|L? uLh4*@ .b

He +i*@|L? Mi|ii? 5TiU|h@*c `L*_c @?_ |LUL@h@?Ui hiThiti?|@|L?t .b

b 5TiU|h@* @?@*)tt ? ?|i t@4T*it Hb 6?|i 6Lhih |h@?tuLh4t H

b #i?|L?t Hb2 @?_ tTiU|h4 hi}hittL? H2

b2 L|@|L? H2

b22 @?_ tTiU|h4 ThLUi_hi HDb h@4ih Lh 5TiU|h@* hiThiti?|@|L? H.be ,t|4@|?} tTiU|h@* _i?t|it Hb

be 6Lhih |h@?tuLh4 t@4T*i UL@h@?Uit Hbbe2 5@4T*i tTiU|h@* _i?t|) bfbe +i*@|L? Mi|ii? |h@?tuLh4i_ @|LUL@h@?Uit @?_ t@4

T*i _i?t|) bf


5/125

bee t)4T|L|U _t|hM|L? Lu t@4T*i tTiU|h@* _i?t|) b2beD 54LL|i_ TihL_L}h@4 it|4@|it bbeS i}|i_ UL@h@?Ui it|4@|it bbe. +i*@|L? Mi|ii? i}|i_ UL@h@?Ui @?_ t4LL|i_

TihL_L}h@4 it|4@|it bD

beH V@h@?Ui Lu *|ihi_ _@|@ it|4@|it bDbeb 5TiU|h@* _i?t|) 4T*i_ M) + 4L_i*t bSbef t)4T|L|U _t|hM|L? Lu tTiU|h@* it|4@|it bS

f N?| +LL|t b.f +@?_L4 @*!t b.f2 L|@|L?t uLh ?| hLL|t bH

f2 5|LU@t|U |hi?_t bHf22 ih4@?i?Ui Lu tLU!t bHf2 5|@|t|U@* ttit bb

f N?| hLL| @?_ t|@|L?@h) ThLUittit ff +itTL?ti |L tLU!t f2f2 5TiU|h@* _i?t|) ff |LULhhi*@|L? fefe +@?_L4 @*! UL4TL?i?|t @?_ t|LU@t|U |hi?_t fefD 6LhiU@t| ihhLh @h@?Uit fHfS 544@h) fH

fe 544@h) Lu@E it|4@|it @?_ |it|t fbfe i@h LMtih@|L?@* i^@*i?Ui Lu ?| hLL|t @?_ t|@

|L?@h) ThLUittit ? ?|i t@4T*it fbfe2 ,4ThU@* Lh! L? ?| hLL|t%Tihtt|i?Ui f

L?|i}h@|L? 2 #i?|L? 22 L?|i}h@|?} hi}hittL?t

+iThiti?|@|L? Lu UL?|i}h@|i_ t)t|i4 e #i?|L? Lu UL?|i}h@|L? e2 *|@h@|i iih_}ii*tL? _iUL4TLt|L? D +@?! UL?_|L? L? E De 5TiU|h@* _i?t|) @| 3ihL SD L44L? |hi?_t hiThiti?|@|L? SS W4T*tihitTL?ti u?U|L? H

e


6/125

e Ntiu* hiThiti?|@|L?t uLh h???} UL?|i}h@|i_ V+


7/125

@T|ih

hiu@Ui

Aiti ?L|it @hi ?|i?_i_ @t @ |i|h@|ih |@? @t @ hiuihi?Ui |i| t @|

)L hi@_ ? Lh_ih |L *i@h? tL4i|?} hiuihi?Ui t tL4i|?} )L *LL! M@U!L? @u|ih )L !?L |i L|*?it Lu @ tMiU| ? Lh_ih |L }i| _U*| |iLhi4ti@U|*) h}|

Ai Lh}@?3@|L? t ^|i _gihi?| uhL4 4Lt| MLL!tc U hi@**) @hi?|i?_i_ @t hiuihi?Uit Lt| MLL!t ht| t|@|i @ }i?ih@* |iLhi4 Lh @TT@h@|tc@?_ |i? tL L @TT*U@|L?t @hi tTiU@* U@tit Lu @ }h@?_ }i?ih@* t|hU|hiA@|


8/125

@T|ih 2

`@| t @ |4i tihitq

Lt| _@|@ ? 4@UhLiUL?L4Ut @?_ ?@?Ui UL4i ? |i uLh4 Lu |4i tihitQ@

ti| Lu hiTi@|i_ LMtih@|L?t Lu |i t@4i @h@M*ic tU @t B Lh @ t|LU!hi|h? `i U@? h|i @ |4i tihit @t

i%c %2c %Aj Lh i%|jc | ' c 2c A

`i ** |hi@| %| @t @ h@?_L4 @h@M*i W? Th?UT*ic |ihi t ?L|?} @ML||4i tihit |@| t @hU@?i Lh _gihi?| uhL4 |i hit| Lu iUL?L4i|hUt Ai L?*)_gihi?Ui | t|@?_@h_ iUL?L4i|hUt t |@| |i @h@M*it @hi tMtUhT|i_ |

h@|ih |@? 6Lh i@4T*ic u +| t }i?ih@|i_ M)

+| ' %|qn "|c .E"| m %| ' fc

|i? w5 ThL_it @ UL?tt|i?| it|4@|i Lu qc t| @t u |i tMtUhT| @t ?L| |

Ai Lh_ |4i tihit t ti_ ?|ihU@?}i@M*) |L _i?L|i @ t@4T*i i%|jctU @t B uhL4 be.G |L |i Thiti?|c @?_ @ ThLM@M*|) 4L_i* uLh |@|t@4T*i@ t|@|i4i?| Lu |i L?| _t|hM|L? Lu |i h@?_L4 @h@M*it i%|j

TLttM*i ThLM@M*|) 4L_i* uLh |i L?| _t|hM|L? Lu @ |4i tihiti%|j t%| ' "|c "| _ QEfc j

2"

ic %| ?Lh4@* @?_ ?_iTi?_i?| Lih |4i OLiihc |4i tihit @hi |)TU@**)?L| _c U t @| 4@!it |i4 ?|ihit|?} 6Lh i@4T*ic u B |L_@)t ?t@**) }c B |L4LhhL t @*tL *!i*) |L Mi ?t@**) }

.


9/125

W| L*_ Mi ?Ui |L ti @ ?L?T@h@4i|hU @TThL@Ut| ti t|L}h@4t|L U@h@U|ih3i |i L?| _i?t|) Lu ic%|3c %|c %|nc j N?uLh|?@|i*)c i** ?L| @i i?L} _@|@ |L uL**L |t @TThL@U ? 4@UhLiUL?L4Ut uLh @|*i@t| |i ?i| 2fff )i@ht Lh tL Oi?Uic |4itihit UL?tt|t Lu ?|ihit|?}T@h@4i|hU 4L_i*t uLh |i L?| _t|hM|L? Lu i%|j Ai 4L_i*t 4TLti

t|hU|hic U )L 4t| i@*@|i |L tii u | U@T|hit |i ui@|hit )L|?! @hi Thiti?| ? |i _@|@ W? |h?c |i) hi_Ui |i it|4@|L? ThLM*i4|L |i it|4@|L? Lu @ ui T@h@4i|ihtLu |i |4itihit 4L_i*

Ai ht| ti| Lu 4L_i*t i t|_) @hi *?i@h + 4L_i*t t )L **tiic |iti @**L @ UL?i?i?| @?_ iM*i @) Lu t|_)?} |4i tihitc @?_U@T|h?} |i i|i?| |L U tihit U@? Mi uLhiU@t|c i @h@|L? Lih |4i? UL?_|L?@* 4i@?t OLiihc |i) _L?


10/125

@T|ih

+ 4L_i*t

`|i ?LtiAi M*_?} M*LU! uLh Lh |4i tihit 4L_i*t t |i |i ?Lti ThLUittcU W


11/125

2 @tU + 4L_i*t

Lt| Lu |i |4i i ** t|_) @ U*@tt Lu 4L_i*t Uhi@|i_ M) |@!?} *?i@hUL4M?@|L?t Lu |i ?Lti 6Lh i@4T*ic

+EG %|

' %|3

n "|EG %| ' "| n w"|3

+ETG %| ' %|3 n 2%|32 n n R%|3R n "|E^G %| ' "| n w"|3 n w^"|3^

+ETc^G %| ' %|3 n n "| n w"|3n

t )L U@? tiic i@U U@ti @4L?|t |L @ hiUTi M) U )L U@? UL?t|hU|@ ti^i?Ui i%|j }i? @ ti^i?Ui Lu hi@*3@|L?t Lu |i |i ?Lti ThLUitti"|jc @?_ @ t|@h|?} @*i uLh

** |iti 4L_i*t @hi 4i@? 3ihLc @?_ @hi ti_ |L hiThiti?| _i@|L?t Lu|i tihit @ML| @ 4i@? 6Lh i@4T*ic u @ tihit @t 4i@? 7% @?_ uL**Lt @?+E

E%| 7% ' E%|3 7% n "|

| t i^@*i?| |L%| ' E 7% n %|3 n "|

Atc UL?t|@?|t @MtLhM 4i@?t W ** }i?ih@**) L?*) Lh! | |i 4i@? 3ihL

ihtL?tc t?Ui @__?} 4i@?t @?_ L|ih _i|ih4?t|U |hi?_t t i@t)

w@} LTih@|Lht @?_ TL*)?L4@*t

W| t i@tit| |L hiThiti?| @?_ 4@?T*@|i + 4L_i*t ? *@} LTih@|Lh ?L|@|L? Ai *@} LTih@|Lh 4Lit |i ?_i M@U! L?i |4i ?|c i

u%| ' %|3

Lhi uLh4@**)c u t @? LTih@|Lh |@| |@!it L?i L*i |4i tihit i%|j @?_ThL_Uit @?L|ih( |i tiUL?_ |4i tihit t |i t@4i @t |i ht|c M| 4Li_M@U!@h_t L?i _@|i 6hL4 |i _i?|L?c )L U@? _L u@?Uih |?}tG

u2%| ' uu%| ' u%|3 ' %|32

u%| ' %|3

f


12/125

u3%| ' %|n

ì U@? @*tL _i?i *@} TL*)?L4@*tc uLh i@4T*i

@Eu%| ' E@fuf n @u

n @2u2%| ' @f%| n @%|3 n @2%|32

Nt?} |t ?L|@|L?c i U@? hih|i |i + 4L_i*t @t

+EG E u%| ' "|EG %| ' E n wu"|+ETG E n u n 2u

2 n n RuR%| ' "|

E^G %| ' E n wu n wû^"|

Lh t4T*)+G @Eu%| ' "|

G %| ' KEu"+G @Eu%| ' KEu"|

@?T*@|?} +t | *@} LTih@|Lht

+ 4L_i*t @hi ?L| ?î |4i tihit | @ }i? L?| _t|hM|L?Lui%fc %c %Aj U@? t@**) Mi hiThiti?|i_ | @ @hi|) Lu + 4L_i*tW| t Lu|i? UL?i?i?| |L Lh! | _gihi?| hiThiti?|@|L?t 6Lh i@4T*ic |i tLh|it| ELh L?*) ?|i *i?}| TL*)?L4@* hiThiti?|@|L? t LMLt*)|i i@tit| L?i |L Lh! | ? 4@?) U@tit( 2 + uLh4t @hi |i i@tit| |Lit|4@|ic t?Ui |i w5 @tt4T|L?t t|** @TT*)( 4L?} @ih@}i hiThiti?|@|L?t iThitt %| ? |ih4t Lu @ *?i@h UL4M?@|L? Lu ?_iTi?_i?| h}| @?_@h@M*it 6Lh 4@?) ThTLtitc tU @t ?_?} @h@?Uit @?_ UL@h@?Uit ?tiU e Mi*Lc |t t |i i@tit| hiThiti?|@|L? |L ti

2 +E |L E4 M) hiUhti tMt|||L?

5|@h| | |i +E%| ' %|3 n "|

+iUhti*) tMt|||?}c

%| ' E%|32 n "|3 n "| ' 2%|32 n "|3 n "|

%| ' &%|3& n

&3"|3&n n n 2"|32 n "|3 n "|


13/125

Atc @? +E U@? @*@)t Mi iThitti_ @t @? +E!c! Lhi 4TLh|@?|*)c u m m tL |@| *4&


14/125

e +ET |L E4c E^ |L +E4c u@U|Lh?}*@} TL*)?L4@*tc @?_ T@h|@* uh@U|L?t

Ai +E i@4T*i t @ML| i^@**) i@t) |L tL*i t?} *@} LTih@|Lht @t t?}hiUhti tMt|||L? w@} LTih@|Lht t?i | 4Lhi UL4T*U@|i_ 4L_i*t

6Lh i@4T*ic *i|


15/125

n Eb n b2u n Eb2 n bb2 n b

22u

2 n '"[

'f

E[

&'f

b&b3&2 u

Aihi t @ Thi||ih @) |L iThitt |i E4 Oihi i ti |i T@h|@*uh@U|L?t |hU! `i ?_ @ @?_ K tL |@|

E buE b2u

'@

E bun

KE b2u

'@E b2u n KE bu

E buE b2u

Ai ?4ih@|Lh L? |i h}| @?_ t_i 4t| Mi c tL

@ n K '

b2@ n bK ' f

5L*?}cK '

b2b2 b

c @ 'b

b b2c

tL

E buE b2u'

bEb b2

E bun

b2Eb2 b

E b2u

Atc i U@? iThitt %| @t

%| 'b

b b2

"['f

b"|3 nb2

b2 b

"['f

b2"|3

%| '"[

'f

Eb

b b2b n

b2b2 b

b2"|3

At uLh4*@ tL*_ hi4?_ )L Lu |i tL*|L? |L @ tiUL?_Lh_ih _gihi?UiLh _gihi?|@* i^@|L?|i hitTL?ti Lu % |L @ tLU! " t @ t4 Lu |L iTL

?i?|@*tc Lh Eu |i b @hi UL4T*i @ 4|hi Lu |L _@4Ti_ t?i @?_ ULt?i@it

+ET


16/125

L|i @}@? |@| ?L| iih) -E2 U@? Mi ?ih|i_ `i hi^hi |@| |i brt@|tu) m b m c @?_ L?i U@? ti |ih _i?|L? |L ?_ |i 4T*i_ @**Li_hi}L? Lu @?_ 2 }@?c ?|* uh|ih ?L|Uic i ** L?*) ti ?ih|M*i+ 4L_i*t

BL?} uhL4 |L -E4 t ?L LMLt `h|i |i @t

%| ' KEu"|c

@?_ tL | @t @? -E4 hiThiti?|@|L?

KEu3%| ' "|

D 544@h) Lu @**Li_ *@} TL*)?L4@* 4@?T*@|L?t

W? t44@h) L?i U@? 4@?T*@|i *@} TL*)?L4@*t Thi||) 4U t| *!i hi}*@h TL*)?L4@*tc @t u u @t @ ?4Mih E`i


17/125

e *|@h@|i + 4L_i*t

t ? |i hit| Lu iUL?L4i|hUtc 4*|@h@|i 4L_i*t *LL! t| *!i ?@h@|i4L_i*tc | |i *i||iht hi?|ihThi|i_ @t iU|Lht @?_ 4@|hUit Atc UL?t_ih@ 4*|@h@|i |4i tihit

%| '% +

|5|&

Ai M*_?} M*LU! t @ 4*|@h@|i |i ?Lti ThLUittc "| _ Efc PcM) U i 4i@?

"| '

%B|D|

&( .E"| ' fc .E"|"

| ' P '

%j2B jBDjBD j

2D

&c .E"|"

|3 ' f

EW? |i tiU|L? L? Lh|L}L?@*3?} V+


18/125

ihi

Eu ' Uxux2u2 ( Eu ' UnXunX2u

2n c x '

%c++ c+5c5+ c55

&c

@?_ t4*@h*) uLh X Ai @) i @i h||i? |iti TL*)?L4@*tc |i ht|

|ih4 t Wc t| @t |i tU@*@h *@} TL*)?L4@*t Lu |i *@t| tiU|L? @*@)t t|@h|| ?L|ih @) Lu h|?} |t u@U| t Ef ' Uc Ef ' U t |Pc |ihi @hi L|ih i^@*i?| hiThiti?|@|L?t |@| _L ?L| @i |t ui@|hicU i ** t|_) i? i Lh|L}L?@*3i V+t

ì U@? ?ih| @?_ 4@?T*@|i 4*|@h@|i + 4L_i*t ? LMLt@)t 6Lh i@4T*ic |i E4hiThiti?|@|L? Lu |i 4*|@h@|i +E4t| Mi

EU xu%| ' "| / %| ' EU xu3"| '

"

['f

x"|3

Lhi }i?ih@**)c UL?t_ih ?ih|?} @? @hM|h@h) +ETc

Eu%| ' "| / %| ' Eu3"|

ì U@? ?|ihThi| |i 4@|h ?ihti @t @ ThL_U| Lu t4t @t @MLic Lh iU@? ?|ihThi| | | |i 4@|h ?ihti uLh4*@G%

@++Eu @+5Eu@5+Eu @55Eu

& %+|5|

&'

%B|D|

&,

%+|5|

&' E@++Eu@55Eu @5+Eu@+5Eu

3

%@55Eu @+5Eu

@5+Eu @++Eu

& %B|D|

&

ì |@!i ?ihtit Lu tU@*@h *@} TL*)?L4@*t @t MiuLhic M) u@U|Lh?} |i4 ?|LhLL|t @?_ ?ih|?} i@U hLL| | |i *E 5 uLh4*@

AL} |i @MLi @hi tiu* @)t |L |?! @ML| @| ?ih|?} @ 4@|hLu *@} TL*)?L4@*t 4i@?tc |i) @hi ?L| T@h|U*@h*) }LL_ @*}Lh|4t uLh _L?}| W| t u@h t4T*ih |L t4T*) t4*@|i |i hitTL?ti Lu %| |L tLU!t ì t|_)

|t ThLUi_hi Mi*LAi ?@4i iU|Lh @|Lhi}hittL? t t@**) ti_ ? |i T*@Ui Lu iU|Lh

+ MiU@ti | t ih) ?UL44L? |L it|4@|i 4L?} @ih@}i |ih4t|Lhi}hittL?t @hi i@t) |L it|4@|i t?Ui |i w5 @tt4T|L?t t|** @TT*)cihi |ih4t @i |L Mi it|4@|i_ M) 4@44 *!i*LL_ 5?Ui iih) @t @? +E4 hiThiti?|@|L?c Thi @|Lhi}hittL?t U@? @TThL4@|iiU|Lh ThLUittitc u )L @**L i?L} *@}t

.


19/125

D hLM*i4t @?_ AhU!t

Aihi t @? i?Lh4Lt @hi|) Lu U*iih |hU!t uLh 4@?T*@|?} *@} TL*)?L4@*tMi)L?_ |i u@U|Lh?} @?_ T@h|@* uh@U|L?t _tUtti_ @MLi Oihi @hi @ ui

vL U@? ?ih| ?|iLh_ih TL*)?L4@*t ?i@|*) M) 4@|U?} hiThiti?

|@|L?t 6Lh i@4T*ic tTTLti @Eu%| ' KEu"|c @?_ )L @?| |L ?_ |i4L?} @ih@}i hiThiti?|@|L? %| ' _Eu"| vL UL*_ |h) |L Uh@?! L|@Eu3KEu _hiU|*)c M| |@|


20/125

@T|ih e

Ai @|LULhhi*@|L? @?_@|LUL@h@?Ui u?U|L?t

e #i?|L?t

Ai @|LUL@h@?Ui Lu @ tihit %| t _i?i_ @t

' ULE%|c %|3

EL@h@?Ui t _i?i_ @t UL E%|c %|3 ' .E%| .E%|E%|3 .E%|3c ?

U@ti )L uLh}L| 5?Ui i @hi tTiU@*3?} |L + 4L_i*t |L| UL?t|@?||ih4tc .E%| ' f uLh @** Lh 4L_i*t Oi?Ui

' .E%|%|3

L|i f ' @hE%| hi*@|i_ t|@|t|U t |i ULhhi*@|L? Lu %| | %|3 Lh @|LULhhi*@|L?

4 ' *@hE%| ' *f

) ?L|@|L? Thit4it |@| |i UL@h@?Ui Lu %| @?_ %|3 t |i t@4i @t|@| Lu %|3 @?_ %|33c i|Uc i |@| | _iTi?_t L?*) L? |i tiT@h@|L?Mi|ii? |L %tc c @?_ ?L| L? |i @MtL*|i _@|i | vL U@? i@t*) ihu) |@|?ih|M*i + 4L_i*t TLttit |t ThLTih|) W| t @*tL @ _iiTih ThLTih|)U@**i_ t|@|L?@h|)c |@| W


21/125

`i UL?t|hU|i_ + 4L_i*t ? Lh_ih |L ThL_Ui ?|ihit|?} 4L_i*t Lu|i L?| _t|hM|L? Lu @ |4i tihit i%|j |LUL@h@?Uit @?_ @|LULhhi*@|L?t @hi L?i LMLt @) Lu U@h@U|ih3?} |i L?| _t|hM|L? Lu @ |4itihit tL ThL_Ui_ Ai ULhhi*@|L? Lu %| | %|n t @? LMLt 4i@thi LuL Tihtt|i?| |i |4i tihit tc Lh L t|hL?} t |i |i?_i?U) uLh @ }

LMtih@|L? |L_@) |L Mi uL**Li_ M) @ } LMtih@|L? |L4LhhLi|c i U@*U*@|i |i @|LULhhi*@|L?t Lu UL44L? + ThLUittitc

ML| |L U@h@U|ih3i |i4c @?_ |L }@? tL4i u@4*@h|) | 4@?T*@|?}|4i tihit

e2 |LUL@h@?Ui @?_ @|LULhhi*@|L? Lu +ThLUittit

`|i Lti5?Ui i @tt4i_ "| ; _QEfc j

2" c |


22/125

|LUL@h@?UiG

f ' .dE"| n w"|3 n w2"|322o ' E n w2 n w

22j

2"

' .dE"| n w"|3 n w2"|32E"|3 n w"|32 n w2"|3o ' Ew n ww2j2"

2 ' .dE"| n w"|3 n w2"|32E"|32 n w"|3 n w2"|3eo ' w2j2"

c ec ' f

|LULhhi*@|L?G4f '

4 ' Ew n ww2*E n w2 n w22

42 ' w2*E n w2 n w

22

4c 4ec ' f

E^c E4) ?L |i T@||ih? tL*_ Mi U*i@hG E^ ThLUittit @i ^ @|LULhhi

*@|L?t _gihi?| uhL4 3ihL *tLc | tL*_ Mi LMLt |@| u

%| ' wEu"| '"[

'f

Ewu"|

|i?

f ' @hE%| '

3

C"[

'f

w2

4

Dj2"

& '"[

'f

wwn&j2"

@?_ uLh4*@t uLh 4 uL**L 44i_@|i*)Aihi t @? 4TLh|@?| *ittL? ? @** |t @*U*@|?} tiUL?_ 4L4i?|

ThLTih|it t i@t) uLh ThLUittitc t?Ui @** |i UL@h@?Ui |ih4t E.E""&_hLT L|

2


23/125

+EAihi @hi |L @)t |L _L |t L?i 6ht|c i 4}| ti |i E4

hiThiti?|@|L? Lu @? -Ec @?_ ti |i uLh4*@t }i? @MLi Atc|i 4L_i* t

E u%| ' "| , %| ' E u3"| '

"['f

"|3

tL

f '

3C "['f

2

4Dj2" ' 2j2" ( 4f '

'

3

C"

['fn

4

Dj2" '

3

C"

['f2

4

Dj2" '

2j2" ( 4 '

@?_ UL?|??} |t @)c

& '&

2j2" ( 4& '

&

Aihi


24/125

4 ' n 24 n 42

42 ' 4 n 2 n 4

4 ' 42 n 24 n

4& ' 4&3 n 24&32 n 4&3

Ai tiUL?_c |h_ @?_ uLh| i^@|L?t U@? Mi tL*i_ uLh 4c 42 @?_ 4 Ai?i@U hi4@??} i^@|L? }it 4& ? |ih4t Lu 4&3 @?_ 4&32c tL i U@? tL*iuLh @** |i 4t L|Ui |@| |i 4t uL**L |i t@4i _gihi?Ui i^@|L? @t |iLh}?@*


25/125

u?U|L?t |L R_i?|u) |i @TThLTh@|i RT@ht4L?Lt +c Lh +ThLUitt W


26/125


27/125

Lc i U@? h|i

@hEkf%| n k%|3 ' fdkf ko

% 44

& %kfk

& f

Atc |i 4@|hUit % 4

4

&c

597 4 424 4

42 4

6:8

i|U 4t| @** Mi TLt|i ti4_i?|i At t @ t|hL?}ih hi^hi4i?| |@?m 4 m 6Lh i@4T*ic |i _i|ih4?@?| Lu |i tiUL?_ 4@|h 4t| Mi TLt|iE@t i** @t |i _i|ih4?@?|t Lu |t Th?UT@* 4?Lhtc U 4T*it m 4 m @?_ m 42 m c tL

n 24242 242 422 f , E42 E242 E42 f

`i !?L 42 @*hi@_) tLc

42 E242 f , 42 24

2 ,

42 42

42

Atc 4 @?_ 42 4t| *i ? |i T@h@ML*U t@Ti_ hi}L? **t|h@|i_ ? }hi

ee6Lh i@4T*ic u 4 ' bc |i? 2EH ' S2 42 `) }L |hL} @** |t @*}iMh@q Aihi @hi |L TL?|tG | t ?L|

|hi |@| @?) ULUi Lu @|LULhhi*@|L?t | m 4 m ELh ii? t |i@|LULhhi*@|L? u?U|L? Lu @? + ThLUitt 2 Ai hit|hU|L?t L? 4 @hiih) UL4T*U@|i_ At }it @ hi@tL? |L @?| |L T@) |i ti|T ULt|t uLh*i@h??} |i tTiU|h@* hiThiti?|@|L?c ? U i U@? M*_ @ |4i tihit M)@hM|h@h*) ULLt?} ^@?||it *!i 4

Aihi @hi |L *4|?} ThLTih|it Lu @|LULhhi*@|L?t @?_ @|LUL@h@?Uit@t i** +iU@** uhL4 |i v*i @*!ih i^@|L?t |@| @|LULhhi*@|L?t ii?

|@**) _i L| iTL?i?|@**)4Wr jhw wkh odvw lpsolfdwlrq/

554 4 5 4 , +4 54, 5

54 4

54 , 4

5 544 54

4=

2S


28/125

6}hi eG **Li_ @*it Lu |i ht| |L @|LULhhi*@|L?t

|LULhhi*@|L?t @hi ML?_i_ M) @? iTL?i?|@* < b : f r|mm

b

5?Ui iTL?i?|@*t @hi t^@hi t44@M*ic |t 4T*it

2 |LULhhi*@|L?t @hi t^@hi t44@M*icS"

'f 2 4

`i ** _tUtt |iti ThLTih|it *@|ih

eD *|@h@|i @|L @?_ UhLtt ULhhi*@|L?tt t@*c )L U@? hi4i4Mih |i 4*|@h@|i i|i?tL? M) hi?|ihThi|?} |it@4i *i||iht @t @TThLTh@|i iU|Lht @?_ 4@|hUit

`| @ iU|Lh |4i tihit

%| '

%+|5|

&

i _i?i |i @|LUL@h@?Ui u?U|L? @t

K ' .E%|%|3 '

%.E+|+|3 .E+|5|3.E5|+|3 .E5|5|3

&

Ai |ih4t .E+|5|3 @hi U@**i_ UhLttUL@h@?Uit L|Ui |@| K _Lit ?L|' K3 +@|ihc K ' K

Lh .E%|%

|3 ' d.E%|%

|no

EvL tL*_ t|LT @?_ihu) |t u@U| uhL4 |i _i?|L?c @?_ |i u@U| |@| .E+|5|3 ' .E5|+|n

2.


29/125

Lhhi*@|L?t @hi t4*@h*) _i?i_ @t

%.E+|+|3*j

2+ .E+|5|3*j+j5

.E5|+|3*j+j5 .E5|5|3*j25

&c

ic i !iiT |h@U! Lu @|LULhhi*@|L?t @?_ UhLttULhhi*@|L?t

2H


30/125

@T|ih D

hi_U|L? @?_W4T*ti+itTL?ti 6?U|L?t

?i Lu |i 4Lt| ?|ihit|?} |?}t |L _L | @? + 4L_i* t uLh4 Thi_U|L?t Lu |i @h@M*i }i? |t T@t| Wic i @?| |L !?L @| t .E%|n m@**?uLh4@|L? @@*@M*i @| |4i | 6Lh |i 4L4i?|c @** ?uLh4@|L? ** Mi@** T@t| @*it Lu |i @h@M*ic @?_ @** T@t| @*it Lu |i tLU!t W


31/125

6}hi DG +E uLhiU@t| @?_ t|@?_@h_ ihhLh

D hi_U|?} + 4L_i*t

t t@*c i


32/125

Ai ?UL?_|L?@* 4L4i?|t @hi *4|t Lu |i UL?_|L?@* 4L4i?|t W? |t@)c i U@? |?! Lu |i ?UL?_|L?@* 4L4i?|t @t |i *4| Lu UL?_|L?@*4L4i?|t Lu %| @t Lu |4i | $ 4c Lh |i *4| Lu UL?_|L?@* 4L4i?|t Lu%|n @t |i Lh3L? $ 4

6LhiU@t|?} 4L_i*t t t4*@h*) i@t) 5?Ui

%| ' "| n w"|3 n w2"|32 n c

i @i

.|E%|n ' .|E"|n n w"| n w2"|3 n ' w"| n w2"|3 n

.|E%|n& ' .|E"|n&nw"|n&3nn w&"|nw&n"|3n ' w&"|nw&n"|3n

@o|E%|n ' j2"

@o|E%|n& ' E n w2 n w

22 n n w

2&3j

2"

+


33/125

?4ihU@**)c |


34/125

W| t tL4i|4it UL?i?i?| |L hi_i?i |i 4@|h tL |i @h@?UiUL@h@?Ui 4@|h Lu |i tLU!t t |i _i?||) 4@|h AL |L |tc i 4L_u)|i @MLi @t

'

5

97j"f

j"

6

:8.E|

| ' U

D22 6LhiU@t|t uhL4 iU|Lh +E hiThiti?|@|L?

`| |t iU|Lh +E hiThiti?|@|L?c i U@? ?_ |i uLhiU@t|tc uLhiU@t|ihhLh @h@?Uit @?_ |i 4T*ti hitTL?ti u?U|L? i|ih _hiU|*) Lh ||i ULhhitTL?_?} iU|Lh E4 hiThiti?|@|L? %| '

S"'f

|3 ,|ih@)c uLhiU@t|t @hi

.|E%|n& ' &%|

@?_ |i uLhiU@t| ihhLh @h@?Uit @hi

%|n .|E%|n ' |n , @h|E%|n '

%|n2 .|E%|n2 ' |n2 n |n , @h|E%|n2 ' n

@h|E%|n& '&3['f

Aiti uLh4*@t @hi T@h|U*@h*) ?Uic MiU@ti |i) U@? Mi UL4T|i_ hiUhti*)c

.|E%|n& ' .|E%|n&3

@h|E%|n& ' n @h|E%|n&3

Atc )L U@? ThL}h@4 T @ t|h?} Lu uLhiU@t|t ? @ t4T*i _L *LLT

D2 V+t ? iU|Lh +E hiThiti?|@|L?

Ai 4*|@h@|i uLhiU@t| uLh4*@t }i? @MLi ThLM@M*) __?


35/125

%| @MLi @t @ iU|Lh d+| 5|o Oihi t @ UL?Uhi|i i@4T*i 5|@h| | |i

ThL|L|)Ti V+c

+| ' +++|3 n ++2+|32 n n +55|3 n +525|32 n n "+|

5| ' 5++|3 n 5+2+|32 n n 555|3 n 5525|32 n n "5|

`i 4@T |t ?|L @? +E @t uL**Lt599999997

+|5|

+|35|3

6:::::::8

'

599999997

++ +5 ++2 +525+ 55 5+2 552

f f f f f f

6:::::::8

599999997

+|35|3+|325|32

6:::::::8

n

599999997

ff f ff f

6:::::::8%

"+|"5|

&

ic%| ' %|3 n "|c .E"|"

| ' Pc

hc t|@h|?} | |i iU|Lh uLh4 Lu |i V+c

%| ' x%|3 n x2%|32 n n "|c

599997%|

%|3%|32

6::::8 '599997

x x2 U f f U

6::::8599997

%|3%|32%|3

6::::8 n599997

Uff

6::::8 d"|o

Bi? |t +E hiThiti?|@|L?c i U@? uLhiU@t| ML| + @?_ 5 @t @MLii*Lc i @__ @ t4@** hi?i4i?| M) ULLt?} |i 4@|h tL |@| |i tLU!t@hi Lh|L}L?@*c .E"" ' U

@TT?} @ ThLUitt ?|L @ iU|Lh +E t @ ih) UL?i?i?| |hU!c uLhL|ih U@*U*@|L?t @t i** @t uLhiU@t|?} 6Lh i@4T*ic @4TMi** @?_ 5**ih

Ebb t|_) Thiti?| @*itc i .|ES"' b%|n ihi % ' __i?_tc @?_

i?Ui |i Thiti?| @*i tL*_ Mi |i ThUi AL UL4T|i tU Thiti?| @*ituhL4 @ V+ | %| @t |t ht| i*i4i?|c |i) 4@T |i V+ ?|L @ iU|Lh+E Ai?c |i UL4T|@|L? t i@t)G .|E

S"' b

%|n ' ES"

' b%| '

EU b3%| O@?ti? @?_ 5@h}i?| Ebb2 tL L @? ?Mi*i@M*i @hi|)Lu 4L_i*t Mi)L?_ |i t4T*i + @?_ V+ W t|_) ihi U@? Mi 4@TTi_?|L |i iU|Lh +E

e


36/125

D W4T*tihitTL?ti u?U|L?

Ai 4T*ti hitTL?ti u?U|L? t |i T@| |@| % uL**Lt u | t !U!i_ M) @t?}*i ?| tLU! "|c ic "|3 ' fc "| ' c "|n ' f At u?U|L? t ?|ihit|?}uLh tiih@* hi@tL?t 6ht|c | t @?L|ih U@h@U|ih3@|L? Lu |i Mi@Lh Lu

Lh 4L_i*t 5iUL?_c @?_ 4Lhi 4TLh|@?|*)c | @**Lt t |L t|@h| |?!?}@ML| RU@tit @?_ RigiU|t 6Lh i@4T*ic )L 4}| UL4T|i |i hitTL?tiLu B |L @ tLU! |L 4L?i) ? @ B V+ @?_ ?|ihThi| |i hit*| @t|i RigiU| L? B Lu 4L?i|@h) TL*U) W ** t|_) |i U@|L?t L? |t?|ihThi|@|L? i|i?ti*)c M| |


37/125

}@?c |t U@? Mi U@*U*@|i_ hiUhti*)G t| !iiT 4*|T*)?} M) EWu )L @?| |i hitTL?ti Lu +|c @?_ ?L| |i L*i t|@|i iU|Lhc hi4i4Mih |L4*|T*) M) d f f o |L T** Lg +|c |i ht| i*i4i?| Lu |i t|@|i iU|Lh

`*i |t *LL!t *!i |i t@4i !?_ Lu |h@* hitTL?ti @t |i -Echi4i4Mih |@| @?_ @hi 4@|hUitc tL |t t4T*i uLh4*@ U@? U@T|hi |i

UL4T*U@|i_ _)?@4Ut Lu @?) ?|i Lh_ih + 4L_i* 6Lh i@4T*ic @?-E2 U@? @i @? 4T*ti hitTL?ti | _iU@)?} t?i @it

D 6@U|t @ML| 4T*tihitTL?tit

Ahii 4TLh|@?| ThLTih|it Lu 4T*tihitTL?tit uL**L uhL4 |iti i@4T*itG

Ai E4 hiThiti?|@|L? t |i t@4i |?} @t |i 4T*tihitTL?ti u?U|L?

At u@U| t ih) tiu* AL |G

2 Ai i@tit| @) |L U@*U*@|i @? E4 hiThiti?|@|L? t |Lt4*@|i |i 4T*tihitTL?ti u?U|L?

W?||i*)c L?i L*_ |?! |@| 4T*tihitTL?tit @i tL4i|?} |L _L| uLhiU@t|t Ai |L @hi hi*@|i_ M)G

Ai 4T*ti hitTL?ti u?U|L? t |i t@4i @t .|E%|n .|3E%|n

5?Ui |i + 4L_i*t @hi *?i@hc |i hitTL?ti |L @ ?| tLU! u |i @*iLu |i tihit t 3ihL t |i t@4i @t |i hitTL?ti |L @ ?| tLU! L? |LT Lu@|iih L|ih tLU!t @i | |i t)t|i4 At ThLTih|) t ?L| |hi Lu?L?*?i@h 4L_i*t-

S


38/125

@T|ih S

5|@|L?@h|) @?_ `L*_hiThiti?|@|L?

S #i?|L?t

W? U@*U*@|?} |i 4L4i?|t Lu + ThLUittitc W ti_ |i u@U| |@| |i4L4i?|t _L ?L| _iTi?_ L? |i U@*i?_@h |4iG

.E%| ' .E%r uLh @** | @?_ r

.E%|%|3 ' .E%r%r3 uLh @** | @?_ r

Aiti ThLTih|it @hi |hi uLh |i ?ih|M*i + 4L_i*tc @t )L U@? tL_hiU|*) | |i) hiiU| @ 4U 4Lhi 4TLh|@?| @?_ }i?ih@* ThLTih|)c @ti


39/125

5|hL?} t|@|L?@h|) _Lit ?L|, i@! t|@|L?@h|) .E%2| 4t| Mi ?|i6Lh i@4T*ic @? _ @U) ThLUitt t t|hL?}*)c M| ?L| UL@h@?Uict|@|L?@h)

2 5|hL?} t|@|L?@h|) T*t .E%|c .E%|% 4 , i@! t|@|L?@h|)

i@! t|@|L?@h|) _Lit ?L| , t|hL?} t|@|L?@h|) Wu |i ThLUitt t?L| ?Lh4@*c L|ih 4L4i?|t E.E%|%|3%|3& 4}| _iTi?_ L? |c tL |iThLUitt 4}| ?L| Mi t|hL?}*) t|@|L?@h)

e i@! t|@|L?@h|) T*t ?Lh4@*|) , t|hL?} t|@|L?@h|)

5|hL?} t|@|L?@h|) t tiu* uLh ThL?} tL4i |iLhi4t 6Lh i@4T*ic @?L?*?i@h E4i@th@M*i u?U|L? Lu @ t|hL?}*) t|@|L?@h) @h@M*i t t|hL?}*)t|@|L?@h)( |t t ?L| |hi Lu UL@h@?Ui t|@|L?@h|) 6Lh 4Lt| ThTLtitc

i@! Lh UL@h@?Ui t|@|L?@h|) t i?L}c @?_ |@|


40/125

Wu tiUL?_ 4L4i?|t it|c |


41/125

S L*_ #iUL4TLt|L? |iLhi4

Ai @MLi _i?|L?t @hi 4TLh|@?| MiU@ti |i) _i?i |i h@?}i Lu ti?tM*i + ThLUittit E?ih|M*i - *@} TL*)?L4@*tc t^@hi t44@M*i *@} TL*)?L4@*t U 4Lhi 4TLh|@?|*)c |i) @hi tiu* |L i?*@h}i

Lh _tUttL? T@t| @_LU *?i@h UL4M?@|L?t Lu _ B@tt@? ihhLhtc @t @tt4i_ tL u@h W4@}?i @?) t|@|L?@h) |4i tihitc uLh i@4T*i @ ?L?*?i@hUL4M?@|L? Lu tih@**) ULhhi*@|i_ *L}?Lh4@* ihhLht W| |h?t L| |@|c tL *L?}@t |i |4i tihit t UL@h@?Ui t|@|L?@h)c | @t @ *?i@h + hiThiti?|@|L?- AihiuLhic |i @_LU + 4L_i*t i @i t|_i_ tL u@h |h? L||L Mi @ 4U 4Lhi }i?ih@* U*@tt |@? )L 4}| @i |L}| At t @?i?Lh4Lt*) 4TLh|@?| u@U| !?L? @t |i

L*_ #iUL4TLt|L? AiLhi4G ?) 4i@? 3ihL UL@h@?Ui

t|@|L?@h) ThLUitt i%|j U@? Mi hiThiti?|i_ ? |i uLh4

%| '"[

'f

w"|3 n #|

ihi

"| %| E%| m %|3c %|32c

2 E"|m%|3c %|32c ' fc .E"|%|3 ' fc .E"| ' fc .E"2| ' j

2" Et@4i

uLh @** |c .E"|"r ' f uLh @** | 9' rc

** |i hLL|t LuwEu @hi L? Lh L|t_i |i ?| UhU*ic i E?*itt |ihit @ ?| hLL| |i TL*)?L4@* t ?ih|M*i

eS"

'f w2 4c wf '

D iwj @?_ i"rj @hi ?^i

S #| t *?i@h*) _i|ih4?t|Uc i#| ' E#| m %|3c

hLTih|) t| _i?it "| @t |i *?i@h uLhiU@t| ihhLht Lu%| Em _i?L|itThLiU|L?c i |i ||i_ @*i Lu @ *?i@h hi}hittL? Lu |i *iu| @?_ @h@M*iL? |i h}| @?_ @h@M*it Atc u i t|@h| | tU @ hi}hittL?c t@)%| ' %|3 n 2%|32 n n "|c 4ihi*) tL*it |t hi}hittL? uLh "| hLTih|it 2 hit*| uhL4 |i _i?|L? Lu "| @t hi}hittL? ihhLhtc @?_ |i u@U| uhL4

ef


42/125

|@| i U@? hiULih |i "| uhL4 Uhhi?| @?_ *@}}i_ %


43/125

T@t| %|c ic | |t @ hi}hittL? t?} @** *?i@h @?_ ?L?*?i@h|h@?tuLh4@|L?tLu |i h}| @?_ @h@M*it MLt*)c |i |L @hi _gihi?|

Ai tLU!t " ?ii_ ?L| Mi |i |hi tLU!t |L |i t)t|i4 Wu |i |hi%| t ?L| }i?ih@|i_ M) *?i@h UL4M?@|L?t Lu T@t| %| T*t @ tLU!c |i? |i`L*_ tLU!t ** Mi _gihi?| uhL4 |i |hi tLU!t

e 54*@h*)c |i `L*_ E4 t @ hiThiti?|@|L? Lu |i |4i tihitc L?i|@| u**) U@T|hit |t tiUL?_ 4L4i?| ThLTih|itc M| ?L| |i hiThiti?|@|L?Lu |i |4i tihit |ih hiThiti?|@|L?t 4@) U@T|hi _iiTih ThLTih|it Lu|i t)t|i4 Ai ?^i?itt hit*| L?*) t|@|it |@| |i `L*_ hiThiti?|@|L?t |i ?^i *?i@hhiThiti?|@|L? ihi |i tLU!t @hi *?i@huLhiU@t| ihhLhtL?*?i@h hiThiti?|@|L?tc Lh hiThiti?|@|L?t ? |ih4t Lu ?L?uLhiU@t| ihhLhtLU!t @hi TihuiU|*) TLttM*i

Oihi @hi tL4i i@4T*itG

L?*?i@h _)?@4Ut Ai |hi t)t|i4 4@) Mi }i?ih@|i_ M) @ ?L?*?i@h_gihi?Ui i^@|L? %|n ' }E%|c %|3c n #|n MLt*)c i? i | @*?i@h @TThL4@|L? @t ? |i `L*_ |iLhi4c %| ' E%| m %|3c %|32c n"| ' %|3 n 2%|32 n "|c i ** ?_ |@| "| 9' #| t @? i|hi4ii@4T*ic UL?t_ih |i h@?_L4 ?4Mih }i?ih@|Lh ? )Lh UL4T|ih At t@ _i|ih4?t|U?L?*?i@h t)t|i4c #| ' f vi|c u )L | @hM|h@h*) *L?} +


44/125

Ai Lh}?@* 4L_i* w ' 2c j2# ' t L?i TLttM*||) | w ' *2c j2" ' e

Lh!t @t i**c @?_ |@| hLL| t ?ih|M*i Ai `L*_ hiThiti?|@|L? t ?^iGu )L


45/125

@T|ih .

V+tG Lh|L}L?@*3@|L?c@h@?Ui _iUL4TLt|L?c

Bh@?}ih U@t@*|)

. h|L}L?@*3?} V+t

Ai 4T*tihitTL?ti u?U|L? Lu @ V+ t t*}|*) @4M}Lt t i **tiic )L U@? hiThiti?| @ |4i tihit | @hM|h@h) *?i@h UL4M?@|L?t Lu@?) ti| Lu 4T*ti hitTL?tit Rh|L}L?@*3@|L? hiuiht |L |i ThLUitt Luti*iU|?} L?i Lu |i 4@?) TLttM*i 4T*tihitTL?ti u?U|L?t |@| )L ?_4Lt| ?|ihit|?} |L *LL! @| W| t @*tL |iU?U@**) UL?i?i?| |L |h@?tuLh4V+t |L t)t|i4t | Lh|L}L?@* ihhLh |ih4t

. 4M}|) Lu 4T*tihitTL?ti u?U|L?t

5|@h| | @ V+ iThitti_ ? iU|Lh ?L|@|L?c @t L*_ Mi hiULihi_ uhL4hi}hittL?t Lu |i i*i4i?|t Lu %| L? |ih *@}tG

Eu%| ' "|c Ef ' Uc .E"|"| ' P E.

hc ? 4L?} @ih@}i ?L|@|L?c

%| ' Eu"|c Ef ' Uc .E"|"| ' P E.2

ihi Eu ' Eu3 +iU@** |@| Eu }it t |i hitTL?ti Lu %| |L ?|4T*tit |L i@U Lu |i i*i4i?|t Lu "| 5?Ui Ef ' U c Ef ' U @t i**

ee


46/125

| i UL*_ U@*U*@|i ?t|i@_ |i hitTL?tit Lu %| |L ?i tLU!t |@|@hi *?i@h UL4M?@|L?t Lu |i L*_ tLU!t 6Lh i@4T*ic i UL*_ @t! uLh |ihitTL?ti Lu %| |L ?| 4Li4i?|t ? "+| @?_ "5| n D"+| Eat| ) )L 4}|@?| |L _L |t 4}| ?L| Mi U*i@h @| |t TL?|c M| Mi@h | 4i At ti@t) |L _L @** |i ?i tLU!t #| tL |@| #| ' "+|c #2| ' "5| n D"+|c Lh

#| ' '"|c ' '

% fD

&

ì U@? h|i |i 4L?} @ih@}i hiThiti?|@|L? Lu Lh V+ ? |ih4t Lu |iti?i tLU!t @t %| ' Eu'

3'"| Lh

%| ' Eu#| E.

ihi Eu ' Eu'3

Eu }it |i hitTL?ti Lu %| |L |i ?i tLU!t#| t @? i^@*i?| @) |L *LL! @| |i LTih@|L?c )L U@? tii |@| Eu t@ *?i@h UL4M?@|L? Lu |i Lh}?@* 4T*tihitTL?tit Eu

5L U *?i@h UL4M?@|L?t tL*_ i *LL! @|q *i@h*) |i _@|@ @hi?L i*T ihiQ|i hiThiti?|@|L?t E.2 @?_ E. @hi LMtih@|L?@**) i^@*i?|c t?Ui |i) ThL_Ui |i t@4i tihit %| ì @i |L _iU_i U *?i@hUL4M?@|L?t i |?! @hi |i 4Lt| ?|ihit|?} AL _L |tc i t|@|i @ ti| Lu@tt4T|L?tc U@**i_ Lh|L}L?@*3@|L? @tt4T|L?tc |@| ?î*) T? _L?|i *?i@h UL4M?@|L? Lu tLU!t ELh 4T*tihitTL?ti u?U|L?t |@| i ?_4Lt| ?|ihit|?}

.2 h|L}L?@* tLU!t

Ai ht|c @?_ @*4Lt| ?iht@*c @tt4T|L? t |@| |i tLU!t tL*_ Mi Lh|L}L?@*E?ULhhi*@|i_ Wu |i |L tLU!t "+| @?_ "5| @hi ULhhi*@|i_c | _Lit?


47/125

Atc i @?| |L TU! ' tL |@| .E#|#| ' U AL _L |tc i ?ii_ @ '

tU |@|'3'3 ' P

`| |@| ULUi Lu 'c

.E#|#| ' .E'"|"|' ' 'P' ' U

?i @) |L UL?t|hU| tU @ ' t @ |i L*it! _iUL4TLt|L? EB@tt@t @ UL44@?_ Ow,5kW |@| ThL_Uit |t _iUL4TLt|L?

N?uLh|?@|i*) |ihi @hi 4@?) _gihi?| '


48/125

t )L U@? tiic |t ULUi 4i@?t |@| |i tiUL?_ tLU! #2| _Lit ?L| @giU||i ht| @h@M*ic +|c UL?|i4TLh@?iLt*) L| tLU!t U@? @giU| 5| UL?|i4TLh@?iLt*) Atc @** |i UL?|i4TLh@?iLt ULhhi*@|L? Mi|ii? |i Lh}?@*tLU!t "| @t Mii? uL*_i_ ?|L f5+

`i U@? @*tL ?_iht|@?_ |i Lh|L}L?@*3@|L? @tt4T|L? ? |ih4t Lu

|i 4T*i_ @|Lhi}hitti hiThiti?|@|L? W? |i Lh}?@* V+c Ef ' Uc tLUL?|i4TLh@?iLt @*it Lu i@U @h@M*i _L ?L| @TTi@h ? |i L|ih @h@M*i


49/125

hitTL?ti Lu L?i @h@M*i |L |i L|ih tLU! t 3ihL tt4T|L? 2 t i^@*i?| |L Ai V+ t it|4@|i_ M) w5 | UL?|i4TLh@?iLt + ? |i5i^@|L? M| ?L| Ui iht@

O@TT*)c |i L*it! _iUL4TLt|L? ThL_Uit @ *Lih |h@?}*@h ' 5?Ui

Ef ' Ef'

3

' '

3

c|i L*it! _iUL4TLt|L? ThL_Uit |i 54t Lh|L}L?@*3@|L? @*hi@_)c tL)L _L?


50/125

Ai L?i t|iT @i@_ uLhiU@t| ihhLh @h@?Ui t

"|n ' %|n .|E%|n ' f#|n '

%S++cf S+5cfS5+cf S55cf

& %#+c|n#5c|n

&

EW? |i h}| @?_ i^@*|)c W _i?L|i Eu ' f n u n 2u2 n @?_ |i

i*i4i?|t Lu Eu @t S++cf n S++cu n S++c2u2 n c i|U Atc t?Ui |i # @hi?ULhhi*@|i_ @?_ @i ?| @h@?Uic

@h|E+|n ' S2++cfj

2E#+ n S2+5cfj

2E#5 ' S2++cf n S

2+5cf

@?_ t4*@h*) uLh 5 Atc S2++cf }it |i @4L?| Lu |i L?it|iT @i@_uLhiU@t| ihhLh @h@?Ui Lu+ _i |L |i #+ tLU!c @?_ S

2+5cf }it |i @4L?| _i

|L |i #5 tLU! EU|@**)c L?i t@**) hiTLh|t uh@U|L?t S2++cf*ES

2++cf n S

2+5cf

Lhi uLh4@**)c i U@? h|i

@h|E%|n ' ff

#i?i

U '

% ff f

&c U2 '

%f ff

&c i|U

Ai?c |i T@h| Lu |i L?i t|iT @i@_ uLhiU@t| ihhLh @h@?Ui _i |L |i ht|

E) tLU! t fUfc |i T@h| _i |L |i tiUL?_ E3 tLU! t fU2

fc i|U

iU! uLh )Lhti*u |@| |iti T@h|t @__ Tc i |@|

ff ' f U

f n f U2

f n

vL U@? |?! Lu U @t @ ?i UL@h@?Ui 4@|h ? U @** tLU!t M||i | @hi |h?i_ Lg Ai?c |i |L|@* @h@?Ui Lu uLhiU@t| ihhLht 4t| Mii^@* |L |i T@h| _i |L |i | tLU!c @?_ t LMLt*) fU

f

Bi?ih@*3?} |L & t|iTt @i@_ t i@t)

%|n& .|E%|n& ' f#|n& n #|n&3 n n &3#|n

@h|E%|n& ' ff n

n n &3

&3

Ai?

&c '&3['f

U

eb


51/125

t |i @h@?Ui Lu & t|iT @i@_ uLhiU@t| ihhLht _i |L |i | tLU!c @?_ |i@h@?Ui t |i t4 Lu |iti UL4TL?i?|tc @h|E%|n& '

S &c

W| t @*tL ?|ihit|?} |L UL4T|i |i _iUL4TLt|L? Lu |i @U|@* @h@?UiLu |i tihit ,|ih _hiU|*) uhL4 |i hiThiti?|@|L?c Lh M) hiUL}?3?}|i @h@?Ui @t |i *4| Lu |i @h@?Ui Lu !t|iT @i@_ uLhiU@t|tc i LM|@?

|@| |i UL?|hM|L? Lu |i | tLU! |L |i @h@?Ui Lu %| t }i? M)

'"[

'f

U

@?_ @hE%|n& 'S

. V+


52/125

AihiuLhic

&c '&3['f

U

}it |i @h@?Ui _iUL4TLt|L?Q|i UL?|hM|L? Lu |i | tLU! |L |i!t|iT @i@_ uLhiU@t| ihhLh @h@?Ui W| |LL U@? Mi uL?_ hiUhti*) uhL4

c ' Uc &c| ' &3c|

.e AhU!t @?_ ThLM*i4tG

5TTLti )L 4*|T*) |i Lh}?@* V+ M) @? @hM|h@h) *Lih |h@?}*@h

' At ThL_Uit @ t)t|i4 Lu |i t@4i uLh4 @t E.e `) L*_ w5 E.D?L| hiULih |t t)t|i4c ?t|i@_ Lu |i t)t|i4 uLh4i_ M) 4*|T*)?} |iLh}?@* V+ M) |i ?ihti Lu |i L*it! _iUL4TLt|L? Lu Pq

25TTLti )L t|@h| | @ }i? Lh|L}L?@* hiThiti?|@|L?c

%| ' Eu#|c .E#|#| ' U

5L |@| )L U@? |h@?tuLh4 |L L|ih Lh|L}L?@* hiThiti?|@|L?t Lu |itLU!t M) @? Lh|L}L?@* 4@|hQ@ 4@|h ' tU |@| '' ' U

L?t_ih @ |L@h@M*i UL?|i}h@|i_ V+ + @?_ S @hi |i @h@M*itcE u+| @?_ E uS|c @?_ +| S| @hi t|@|L?@h)c @?_ S| t @ h@?_L4@*! 5L |@| ? |t t)t|i4c *@?U@h_"@ @?_ 54t Lh|L}L?@*3@|L?ThL_Ui |i t@4i hit*|

e 5L |@| |i 54t Lh|L}L?@*3@|L? t i^@*i?| |L hi^h?} |@||i L?it|iT @i@_ uLhiU@t| ihhLh @h@?Ui Lu |i ht| @h@M*i t @** _i |L|i ht| tLU!c @?_ tL uLh|

?tihtG Ai w5 hi}hittL?t Lu E.D _L ?L| E?iUitt@h*) ThL_Ui @ _@}L?@*

UL@h@?Ui 4@|hc @?_ tL @hi ?L| |i t@4i @t w5 it|4@|itc ii? |L}|i t@4i ?4Mih Lu @h@M*it @hi L? |i h}| @?_ t_i Lh@*G @|U |iThLTih|it Lu |i ihhLh |ih4t @t i** @t |i ThLTih|it Lu Ef Lh Ef-

2 i @?| |L |h@?tuLh4 |L tLU!t 1|c tU |@| .E1|1| ' U AL _L |c

.E1|1| ' .E'#|#

|'

' ''c U @_ Mi||ih Mi U h|L}L?@* 4@|hUit

D


53/125

hL|@|i iU|Lht |L| t|hi|U?} Lh th?!?} |i4 6Lh i@4T*ic )L U@?ihu) |@|

' '

%ULt w t? w

t? w ULt w

&

hL|@|it iU|Lht UL?|ihU*LU!ti M) w At hi^hi4i?| 4i@?t |@| |i

UL*4?t Lu ' 4t| Mi Lh|L}L?@*c @?_ |@| u )L 4*|T*) ' M) |L Lh|L}L?@* iU|Lhtc |i ?i iU|Lht ** t|** Mi Lh|L}L?@* Oi?Ui |i ?@4i

h|i |i +c S t)t|i4 @t {%| ' Eu"| +c S UL?|i}h@|i_ 4T*it |@| S @?_ + @i |i t@4i *L?}h? hitTL?ti |L @?) tLU!QSSE '+SEc S+E ' ++E h@?_L4 @*! 4i@?t |@| |i 44i_@|i hitTL?tiLu S |L @?) tLU! i^@*t |t *L?} h? hitTL?tic SEf ' SEc ' Sc +Oi?Uic S+Ef ' S+E Atc Ef t *Lih |h@?}*@h u @?_ L?*) u E t*Lih |h@?}*@h

S @ h@?_L4 @*! t tUi?|c M| L?*) |i i@!ih UL?_|L? SEf 'SEc ' Sc + t ?iUitt@h) S


54/125

.D @tU _i@

Ai 4Lt| ?@|h@* _i?|L? Lu U@ti t |@| U@tit tL*_ ThiUi_i igiU|t| |t ?ii_ ?L| Mi |i U@ti ? |4itihit

L?t_ih @? iUL?L4t| L ?_thut `?_th?} t @ |h?} @U||)ctL i _h?!t @ Miih @u|ih@h_t `| ' ?_th?} @?_ M ' _h?! @ Miihc@ |4i *?i Lu t @U||) t }i? ? }hi . Oihi i @i ?L _U*|)

6}hi .G

_i|ih4??} |@| ?_th?} U@tit Miih UL?t4T|L?| ?L tTTLti |@| | |@!it 2 Lht uLh Lh iUL?L4t| |L hiULih

i?L} |L ii? LTi? @ Miihc @?_ uh|ih4Lhi *i|


55/125

OL U@? L?i tLh| |t L|q Ai ThLM*i4 t |@| ML| K @?_ @hi hi}*@hii?|t Wu L?i UL*_ ?_ @? ?iTiU|i_ c @?_ tii i|ih @? ?iTiU|i_ KuL**Lt |c L?i UL*_ _i|ih4?i |@| U@tit Kc @t tL? ? }hi . 5L

6}hi .G

ihi t @ TLttM*i _i?|L?G u @? ?iTiU|i_ uLhiU@t|t K |i? i !?L |@| RU@tit K At ** |h? L| |L Mi L?i Lu tiih@* i^@*i?| _i?|L?tLu Bh@?}ih U@t@*|)

.D2 #i?|L?c @|Lhi}hitti hiThiti?|@|L?

#i?|L?G | Bh@?}ih U@tit +| u | i*Tt |L uLhiU@t| +|c }i?T@t| +|

L?t_ih @ iU|Lh @|Lhi}hittL?

+| ' @Eu+|3 n KEu|3 n B|

| ' SEu+|3 n _Eu|3 n D|

Lh _i?|L? @4L?|t |LG | _Lit ?L| Bh@?}ih U@ti +| u KEu ' fc i u|i iU|Lh @|Lhi}hittL? t i^@*i?| |L

+| ' @Eu+|3 nB|| ' SEu+|3 n_Eu|3 nD|

`i U@? t|@|i |i _i?|L? @*|ih?@|i*) ? |i @|Lhi}hitti hiThiti?|@|L?%+||

&'

%@Eu KEuSEu _Eu

& %+|3|3

&n

%B|D|

&

De


56/125

%U u@Eu uKEuuSEu U u_Eu

& %+||

&'

%B|D|

&%

@WEu KWEuSWEu _WEu

& %+||

&'

%B|D|

&

Atc _Lit ?L| Bh@?}ih U@ti ) g KW

Eu ' fc Lh u |i @|Lhi}hitti4@|h *@} TL*)?L4@* t *Lih |h@?}*@h

.D L?} @ih@}i hiThiti?|@|L?

`i U@? ?ih| |i @|Lhi}hitti hiThiti?|@|L? @t uL**LtG

%+||

&'

@WEu_WEu KWEu_WEu

%_WEu KWEu

SWEu @WEu

& %B|D|

&

Atc _Lit ?L| Bh@?}ih U@ti ) u @?_ L?*) u |i `L*_ 4L?} @ih@}i4@|h *@} TL*)?L4@* t *Lih |h@?}*@h At t|@|i4i?| }it @?L|ih ?|ihThi|@|L?G u _Lit ?L| Bh@?}ih U@ti )c |i? ) t @ u?U|L? Lu |t tLU!tL?*) @?_ _Lit ?L| hitTL?_ |L tLU!t t @ u?U|L? Lu ML| ) tLU!t @?_ tLU!t

?L|ih @) Lu t@)?} |i t@4i |?} t |@| _Lit ?L| Bh@?}ih U@ti )u @?_ L?*) u )


57/125

i?Ui uLhiU@t| |i ?@h@|i ??L@|L?t ? +| W? |t ti?tic Lh Lh}?@*_i@ |@| | U@tit +| u |t 4Li4i?|t ThiUi_i |Lti Lu +| @t |hi g |@TT*it |L ??L@|L?tc ?L| |i *ii* Lu |i tihit

hLLuG Wu _Lit ?L| Bh@?}ih U@ti + |i? |i M@h@|i hiThiti?

|@|L? t +| ' @EuB|| ' SEuB| n_EuD|

Ai tiUL?_ *?i 4t| i^@* |i ?@h@|i hiThiti?|@|L? Lu |

| ' SEuB| n _EuD| ' sEu>|

Atc >| t @ *?i@h UL4M?@|L? Lu Uhhi?| @?_ T@t| B| @?_ D|5?Ui B| t |i M@h@|i ihhLhc .EB| m +|3 |3 ' .EB| m

B|3 D |3 ' f Atc B| t ?ULhhi*@|i_ | *@}}i_ B| @?_D|c @?_ i?Ui *@}}i_ >|

Wu .E>|1|n ' fc |i? T@t| > _L ?L| i*T uLhiU@t| 1c @?_ |tT@t| > _L ?L| i*T uLhiU@t| + }i? T@t| ) 5?Ui L?i U@? tL*iuLh | ' sEu>|E @?_ > tT@? |i t@4i tT@Ui |t 4i@?t T@t| _L ?L| i*T uLhiU@t| + }i? T@t| )

.DD ,giU| L? ThLiU|L?t

L?t_ih |i ThLiU|L? Lu | L? |i i?|hi + ThLUittc

| '"[

'3"

K+|3 n "|

Oihi t |i u? u@U|GAi ThLiU|L? Lu | L? |i i?|hi + ThLUitt t i^@* |L |i ThLiU|L? Lu

| L? Uhhi?| @?_ T@t| + @*L?ic EK ' f uLh f u @?_ L?*) u _Lit ?L|Bh@?}ih U@ti )

hLLuG _Lit ?L| Bh@?}ih U@ti + ,L?i t_i_ Wu _Lit ?L|Bh@?}ih U@ti +c |i M@h@|i hiThiti?|@|L? t

+| ' @EuB|

DS


58/125

| ' _EuB| n eEuD|

+i4i4Mihc @** |iti *@} TL*)?L4@*t @hi L?it_i_ W?ih|?} |iht|c

B| ' @Eu3+|

tMt|||?} ? |i tiUL?_c

| ' _Eu@Eu3+| n eEuD|

5?Ui B @?_ D @hi Lh|L}L?@* @| @** *i@_t @?_ *@}t Ei @tt4i_UL?|i4TLh@?iLt*) Lh|L}L?@* @t i** eEuD| t Lh|L}L?@* |L +|@| @** *i@_t @?_ *@}t Atc |i *@t| iThittL? t |i ThLiU|L?Lu L? |i i?|hi + ThLUitt 5?Ui _Eu @?_ @Eu3 @hi L?i t_i_|i ThLiU|L? t L?i t_i_ ? Uhhi?| @?_ T@t| )

2 ?i t_i_ , _Lit ?L| Bh@?}ih U@ti + `h|i |i ?@h@|ihiThiti?|@|L? Lu + @t +| ' @Eu1| @?_ |i ThLiU|L? Lu L? |iL*i + ThLUitt

| ' Eu+| n #|

Ai }i? Lu |i |iLhi4 t |@| Eu t L?i t_i_ 5?Ui |t t|i ThLiU|L? L? |i L*i + ThLUittc .E+|#|3r ' f uLh @** t

#| t TL|i?|@**) tih@**) ULhhi*@|i_c tL | @t @ ?@h@|i hiThi

ti?|@|L?#| ' KEuB|

||?} @** |t |L}i|ihc + @?_ 5 @i @ L?| hiThiti?|@|L?

+| ' @Eu1|| ' Eu@Eu1| nKEuB|

W|


59/125

.DS 544@h)

_Lit ?L| Bh@?}ih U@ti + u @t| _L ?L| i*T uLhiU@t| + }i? T@t| + QLiUi?|t ? L? ? @

hi}hittL? Lu + L? T@t| + @?_ T@t| @hi f2 Ai @|Lhi}hitti hiThiti?|@|L? t *Lih |h@?}*@h Ai M@h@|i `L*_ 4L?} @ih@}i hiThiti?|@|L? t *Lih |h@?}*@he hLE| m@** +| ' hLE| mUhhi?| @?_ T@t| +D N?@h@|i ??L@|L?t ? @hi ?L| ULhhi*@|i_ | tMti^i?| ?

@h@|i ??L@|L?t ? +S Ai hitTL?ti Lu + |L tLU!t t 3ihL?i UL*_ ti @?) _i?|L? @t @ |it| Ai i@tit| |it| t t4T*) @? 6|it|

L? |i ULiUi?|t ? |i V+ L?|i @h*L i_i?Ui t}}it|t |@| |t|it| t @*tL |i 4Lt| hLMt|

.D. #tUttL?

W| t ?L| ?iUitt@h*) |i U@ti |@| L?i T@h Lu @h@M*it 4t| Bh@?}ih U@ti|i L|ih @?_ ?L| Ui iht@ i Lu|i? ?_ |@| i@U @h@M*i hitTL?_t |L|i L|ih


60/125

}it |i hitTL?ti Lu ) 5?Ui |i ULiUi?|t ihi RM}c |i i^@|L?t4T*i_ |@| UL?t|@?| 4L?i) }hL| h*it ihi _ith@M*i

Ai LMLt LMiU|L? |L |t t|@|i4i?| t |@| |i ULiUi?|t 4@) hiiU|hiihti U@t@*|)G |i 6i_ ti|t 4L?i) ? @?|UT@|L? Lu tMti^i?| iUL?L4U}hL|c Lh |i 6i_ ti|t 4L?i) ? hitTL?ti |L T@t| + W? i|ih U@tic |i ihhLh

|ih4 B t ULhhi*@|i_ | Uhhi?| @?_ *@}}i_ 6


61/125

,T*@?i_ M) tLU!t |LV@h Lu W `W

b. 2 W . ee H

`W e . Hf

A@M*i .G 54t @h@?Ui @UUL?|?}

,T*@?i_ M) tLU!t |LV@h Lu + `W W

+ Df b e 2H DS e2

`W 2 2 Sf SW f e e D2

A@M*i .2G 54t @h@?Ui @UUL?|?} ?U*_?} ?|ihit| h@|it

Uc t?Ui .I Lu |i eH 4L?| @i@_ @h@?Ui Lu U t _i |L tLU!tAi |h_ hL t @ M| Lu @ T33*iG `W @*tL tii4t iL}i?Ltc @?_ ?L| |LL?i?Ui_ M)

6}hi .2 tLt @| @TTi?t i? i @__ @ uh|ih @h@M*ic |i ?|ihit| h@|i Lc |i tiUL?_ hL tLt @ tMt|@?|@* hitTL?ti Lu 4L?i) |L?|ihit| h@|i tLU!t W|


62/125

|L Mhi@! |i @h@?Ui _iUL4TLt|L? _L? M) uhiî?U)c tL )L }i| 4i@thitLu uii_M@U! @| i@U uhiî?U) At 4i@thi U@? @?tih ît|L?t *!i R_Lit|i 6i_ hitTL?_ |L *L Lh } uhiî?U) 4Li4i?|t ? Bqc i|U

.Db L?|i4TLh@?iLt ULhhi*@|L?

MLic W @tt4i_ ihi ?iUitt@h) |@| |i tLU!t ihi Lh|L}L?@* ?i U@?iT@?_ |i _i?|L? Lu Bh@?}ih U@t@*|) |L 4i@? |@| Uhhi?| @?_ T@t| _L ?L| Thi_U| + }i? T@t| + At 4i@?t |@| |i Lh|L}L?@*3i_ t*Lih |h@?}*@h u ULhtic |t ihtL? Lu |i _i?|L? ** _iTi?_ L? |iLh_ih Lu Lh|L}L?@*3@|L? 54*@h*)c i? |?!?} Lu Bh@?}ih U@t@*|) ?|ih4t Lu 4T*ti hitTL?ti u?U|L?t Lh @h@?Ui _iUL4TLt|L?t )L @i |L4@!i L?i Lh |i L|ih Lh|L}L?@*3@|L? @tt4T|L?

W?||i*)c |i ThLM*i4 t |@| L?i @h@M*i 4@) @giU| |i L|ih tL Û!*)|@| | t |? |i L?i TihL_ @| U i LMtihi _@|@ Atc i U@?


63/125

@T|ih H

5TiU|h@* +iThiti?|@|L?

Ai |h_ u?_@4i?|@* hiThiti?|@|L? Lu @ |4i tihit t |t tTiU|h@* _i?t|)

At t t| |i 6Lhih |h@?tuLh4 Lu |i @|LULhhi*@|L?% @|LUL@h@?Uiu?U|L? Wu )L _L?


64/125

Nt?} |i _i?||) ew ' ULt w n t? wc i U@? @*tL hiThiti?| UL4T*i?4Miht ? TL*@h ?L|@|L?@t 5 ' ewihi ' E2n2*2 t |i @4T*|_iLh 4@}?|_ic @?_ w ' |@?3E* t |i @?}*i Lh T@ti Ai *i?}| Lu@ UL4T*i ?4Mih t @*tL _i?L|i_ @t |t ?Lh4 m 5 m

H2 __|L?c 4*|T*U@|L?c @?_ UL?}@|L?

AL @__ UL4T*i ?4Mihtc )L @__ i@U T@h|c @t )L L*_ @?) iU|Lh

E n n En ( ' E n n E n (

Oi?Uic i U@? hiThiti?| @__|L? L? |i UL4T*i T*@?i @t ? }hi H2

6}hi H2G __?}c 4*|T*)?} @?_ UL?}@|?} UL4T*i ?4Miht

vL 4*|T*) |i4 t| *!i )L


65/125

H Ah}L?L4i|hU _i?||it

Z6hL4 |i _i?||)ew ' ULt w n t? wc

|L tiu* _i?||it uL**L

ULt w ' Eew n e3w*2

t? w ' Eew e3w*2

He 6hiî?U)c TihL_ @?_ T@ti

6}hi H hi4?_t )L @| t?i @?_ ULt?i @it *LL! *!i

6}hi HG 4T*|ic T@tic TihL_ @?_ uhiî?U)

Ai TihL_ b t hi*@|i_ |L |i uhiî?U) / M) b ' 2Z*/ Ai TihL_ bt |i @4L?| Lu |4i | |@!it |i @i |L }L |hL} @ L*i U)U*i Aiuhiî?U) / t |i @?}*@h tTii_ 4i@thi_ ? h@_@?t%|4i Ai T@tit |i@?}*@h @4L?| M) U |i t?i @i t tu|i_ 5?Ui | t @? @?}*@h_tT*@Ui4i?|c |i |4i tu| t */

HD 6Lhih |h@?tuLh4t

A@!i @?) tihit Lu ?4Miht i%|j ì _i?i |t 6Lhih |h@?tuLh4 @t

%E/ '"[

|'3"

e3/|%|

Se


66/125

L|i |@| |t LTih@|L? |h@?tuLh4t @ tihitc @ u?U|L? Lu |c |L @ UL4T*i@*i_ u?U|L? Lu / Bi? %E/c i U@? hiULih %|c M) |i ?ihti 6Lhih|h@?tuLh4

%| '

2Z

]Z3Z

en/|%E/_/

hLLuG at| tMt|||i |i _i?|L? Lu %E/ ? |i ?ihti |h@?tuLh4c @?_ ihu) |@| i }i| %| M@U!

2Z

]Z3Z

en/|_/"[

'3"

e3/% '

2Z

"['3"

%

]Z3Z

en/|e3/_/

'"

['3"%

2Z

]Z3Z

e/E|3_/

i|c *i|


67/125

HS `) UL4T*i ?4Mihtq

vL 4@) L?_ih ) UL4T*i ?4Miht TLT T ? |i uLh4*@tc t?Ui @**iUL?L4U |4i tihit @hi hi@* Eic |i ti?ti ? U |i) UL?|@? 4@}?@h)?4Miht @t ?L|?} |L _L | |i t^@hi hLL| Lu Ai @?tih t |@||i) _L?


68/125

H2 5TiU|h@* _i?t|)

Ai tTiU|h@* _i?t|) t _i?i_ @t |i 6Lhih |h@?tuLh4 Lu |i @|LUL@h@?Uiu?U|L?

7E/ '"

['3"

e3/

5?Ui t t)44i|hUc 7E/ t hi@*

7E/ ' f n 2"[

'

ULtE/

Ai uLh4*@ tLt |@|c @}@?c i UL*_ _i?i |i tTiU|h@* _i?t|) t?}hi@* ^@?||itc M| |i UL4T*i ihtL?t @hi Thi||ih *tLc ?L|Ui |@| |it)44i|h) ' 3 4i@?t |@| 7E/ t t)44i|hUG 7E/ ' 7E/c @?_ hi@*

Nt?} |i ?ihtL? uLh4*@c i U@? hiULih uhL4 7E/

'

2Z

]Z3Z

en/7E/_/

Atc |i tTiU|h@* _i?t|) t @? @|LUL@h@?Ui }i?ih@|?} u?U|L? W? T@h|U*@hc

f '

2Z ]Z

3Z7E/_/

At i^@|L? ?|ihThi|t |i tTiU|h@* _i?t|) @t @ _iUL4TLt|L? Lu |i @h@?Ui Lu |i ThLUitt ?|L ?ULhhi*@|i_ UL4TL?i?|t @| i@U uhi^i?U) / Eu|i) ihi?


69/125

sE/*2Z *LL!t t| *!i @ ThLM@M*|) _i?t|)G |


70/125

6}hi HeG 5TiU|h@* _i?t|) Lu E

H22 5TiU|h@* _i?t|) 4@|hc UhLtt tTiU|h@* _i?t|)

`| %| ' d+| 5|oc i _i?i_ |i @h@?UiUL@h@?Ui 4@|h K ' .E%|%

|3c

U @t UL4TLti_ Lu @|L @?_ UhLttUL@h@?Uit Ai tTiU|h@* _i?t|)

4@|h t _i?i_ @t

7%E/ '"[

'3"

e3/K '

% S e

3/+ES

e3/.E+|5|3S

e3/.E5|+|3

S e

3/5E

&

vL 4@) hiUL}?3i |i _@}L?@*t @t |i tTiU|h@* _i?t|it Lu + @?_ 5 AiLg_@}L?@*t @hi !?L? @t |i UhLtttTiU|h@* _i?t|it

7+5E/ '"

['3"

e3/.E+|5|3

+iU@** |@| i ti_ |i t)44i|h) Lu |i @|LUL@h@?Ui u?U|L? ' 3|L tL |@| |i tTiU|h@* _i?t|) t hi@* @?_ t)44i|hU ? / OLiihc | t?L||hi |@| .E+|5|3 ' .E5|+|3 tL |i UhLtttTiU|h@* _i?t|) ?ii_ ?L| Mihi@*c t)44i|hUc Lh TLt|i W| _Lit @i |i uL**L?} t)44i|h) ThLTih|)G

7+5E/ ' d75+E/oW ' 75+E/

hLLuG

7+5E/ '"[

'3"

e3/.E+|5|3 '"[

'3"

e3/.E5|+|n '

"[&'3"

e&/.E5|+|3& ' d75+E/oW ' 75+E/

Sb


71/125

t | @?) 6Lhih |h@?tuLh4c i U@? h|i |i ULhhitTL?_?} ?ihti|h@?tuLh4

.E+|5|3 '

2Z

]Z3Z

e/7+5E/_/

@?_c ? T@h|U*@hc

.E+|5| '

2Z]Z3Z 7

+5E/_/

Ai UhLtttTiU|h@* _i?t|) _iUL4TLtit |i UL@h@?Ui Lu |L tihit ?|L |iUL@h@?Ui Lu UL4TL?i?|t @| i@U uhiî?U) / `*i |i tTiU|h@* _i?t|)t hi@*c |i UhLtttTiU|h@* _i?t|) 4@) Mi UL4T*i i U@? U@h@U|ih3i |ihi*@|L? Mi|ii? |L t?i Lh ULt?i @it @| uhiî?U) / M) |i ThL_U|Lu |ih @4T*|_itc U t |i 4@}?|_i Lu 5+5E/c @?_ |i T@ti tu|Mi|ii? |i4c U t |i T@ti Lu 7+5E/

H2 5TiU|h@* _i?t|) Lu @ t4

+iU@** |@| |i @h@?Ui Lu @ t4 t @hE@ n K ' @hE@ n @hEK n 2ULE@c K5?Ui tTiU|h@* _i?t|it @hi @h@?Uit Lu RUL4TL?i?|t @| uhiî?U) / |i)LMi) @ t4*@h hi*@|L?c

7%n+E/ ' 7%E/ n 7+E/ n 7%+E/ n 7+%E/

' 7%E/ n 7+E/ n E7%+E/ n 7%+E/W

' 7%E/ n 7+E/ n 2-eE7%+E/

ihi -eE% ' |i hi@* T@h| Lu hLLuG t t@*c ti |i _i?|L?t @?_ @*}iMh@G

7%n+E/ '[

e3/.dE%| n +|E%|3 n +|3o '

' [ e3/ E.E%|%|3 n .E+|+|3 n .E%|+|3 n .E+|%|3 '

' 7%E/ n 7+E/ n 7%+E/ n 7+%E/

W? T@h|U*@hc u % @?_ + @hi ?ULhhi*@|i_ @| @** *i@_t @?_ *@}tc |ihtTiU|h@* _i?t|it @__

.E%|+|3 ' f uLh @** , 7%n+E/ ' 7%E/ n 7+E/

.f


72/125

H 6*|ih?}

H 5TiU|h4 Lu *|ihi_ tihit

5TTLti i uLh4 @ tihit +| M) *|ih?}@ tihit %|c i M) @TT*)?} @ 4L?}@ih@}i

+| '"[

'3"

K%|3 ' KEu%|

W| L*_ Mi ?Ui |L U@h@U|ih3i |i ThLUitt +| }i? |i ThLUitt %|`i UL*_ |h) |L _ihi |i @|LUL@h@?Ui u?U|L? Lu +| }i? |@| Lu %|

wi|


73/125

Ai *|ih +| ' KEu%| t @ UL4T*i _)?@4U hi*@|L? vi| |i *|ih?}uLh4*@ *LL!t t| *!i |i tU@*@h uLh4*@ + ' K% ,@hE+ ' K2 @hE% Att|@h|t |L tL )L ) |i tTiU|h@* hiThiti?|@|L? t tL UL?i?i?|G LTih@|L?t | @ _U*| _)?@4U t|hU|hi ? |i |4i _L4@? EUL?L*|L?t

@hi t| 4*|T*U@|L?t ? |i uhi^i?U) _L4@?

H2 *|@h@|i *|ih?} uLh4*@

Ai iU|Lh ihtL? Lu |i *|ih?} uLh4*@ t @ ?@|h@* i|i?tL? Lu |i tU@*@hihtL?

+| ' Eu%| , 7+E/ ' Ee3/7%E/Ee

/

At *LL!t t| *!i |i t@* @h@?Ui uLh4*@G u % t @ iU|Lh@*i_ h@?_L4

@h@M*i | UL@h@?Ui 4@|h P @?_ + ' %c |i? |i UL@h@?Ui 4@|hLu + t P

H 5TiU|h@* _i?t|) Lu @hM|h@h) E4

5?Ui |i E4 hiThiti?|@|L? iThittit @?) tihit @t @ *?i@h *|ih Lu|i ?Ltic @? LMLt ti Lu |i *|ih?} uLh4*@ t @ @) |L _ihi |itTiU|h@* _i?t|) Lu @?) + iThitti_ ? `L*_ hiThiti?|@|L?c

%| ' wEu"| '"[

'f

w"|3

) |i *|ih?} uLh4*@c

7%E/ ' wEe3/wEen/j2"

L )L !?L L |L ?_ |i tTiU|h@* _i?t|) Lu @?)ThLUitt 6Lh i@4T*ic

|i Ec %| ' E n wu"| }it

7%E/ ' Enwe3/Enwe/j2" '

n wEe/ n e3/ n w2

j2" ' En2w ULtE/nw

2j

@t MiuLhi

.2


74/125

He 6*|ih?} @?_ w5

5TTLti+| ' KEu%| n "|c .E%|"|3 ' f uLh @**

At t @| w5 Lu +| L? |i i?|hi %| ThLUitt ThL_Uit Ai?c @__?} |i

*|ih?} uLh4*@ |L |i u@U| |@| tTiU|h@* _i?t|it Lu ?ULhhi*@|i_ ThLUittit@__c i @i

7+E/ ' 7KEu%E/ n 7"E/ 'm KEe3/ m2 7%E/ n 7"E/

At uLh4*@ *LL!t @ *L| *!i +| ' %|qn"| , j2+ ' q

2j2%nj2" c @?_ |i hit*|?}

uLh4*@ uLh -2 Atc | *i|t t _L @? -2 _iUL4TLt|L? Q L 4U Lu |i@h@?Ui Lu + @| i@U uhi^i?U) t _i |L % @?_ "q

Lhi ?|ihit|?}*)c i U@? hi*@|i |i UhLtttTiU|h@* _i?t|) |L KEuc

7+%E/ ' KEe3/7%E/

hLLuG Ai t@* |hU!G h|i L| |i _i?|L? @?_ T*@) | |i?_Uit ?|* )L }i| @| )L @?|

7+%E/ '[&

e3/&.E+|%|3& '[&

e3/&[

K.E%|3%|3&

'[&

e3/&[

K&3E%

wi| , ' & c tL & ' , n c

7+%E/ '[,

e3/E,n[

K,E% '[

e3/K[,

e3/,,E% ' KEe3/7%E/

At uLh4*@ @t @ ?4Mih Lu tit 6ht|c __i |hL} |L iThitt

KEe3/ '7+%E/

7%E/

At *LL!t @ *L| *!i q 'ULE+c %*@hE% }@?c |i tTiU|h@* hiThiti?|@|L?hi_Uit UL4T*i _)?@4U hiThiti?|@|L?t |L t4T*i tU@*@h 4*|T*U@|L?c @|

.


75/125

i@U uhi^i?U) / 5iUL?_c )L U@? it|4@|i |i *@} _t|hM|L?c Lh |?!@ML| *@} _t|hM|L?t |t @)(

K '

2Z

]Z3Z

e/KEe3/ _/ '

2Z

]Z3Z

e/7+%E/

7%E/_/

t !?L? @t RO@??@?


76/125

hLLuG

+| '

2

[

KEe/E|3ne3/E|3 '

2

3Ce/|[

Ke3/ n e3/|

[

Ke/

4D '

2

e/|KEe3/ n e3/|KEe/

'm KEe3/ m ULtE/| n E/

Em KEe3/ m'm KEe/ muLh TL*)?L4@* KEu

Ai ^@?||) KEe3/ t !?L? @t |i uhiî?U) hitTL?ti Lu |i *|ih W|t4@}?|_i ELh 4@}?|_i t^@hi_ t U@**i_ |i }@?Lu |i *|ih @?_ |t @?}*it !?L? @t |i T@ti L| @hi u?U|L?t Lu uhiî?U)

Ai tTiU|h@* hiThiti?|@|L? Lu |i *|ih tLt )L @| @TTi?t |L t?i@it Lu i@U uhiî?U) ** )L U@? _L |L @ t?i @i t t|hi|U | Lh tu||c tL i U@? hiThiti?| @| @TTi?t |L @ t?i @i @| i@U uhiî?U) M) |L?4Mihtc |i }@? @?_ T@ti Lu |i KEe3/ Ai t@* hiThiti?|@|L? KEutLt )L @| @TTi?t ? hitTL?ti |L @ ?| 4T*ti At tc Lu ULhtic@ UL4T*i _)?@4U hi*@|L? Ai?c i U@? i|ih |?! Lu +| @t |i t4 Lu4T*tit |4it |i UL4T*i _)?@4U hitTL?ti |L i@U 4T*tic Lh @t |i t4Lu t?i @?_ ULt?i @it |4it |i t4T*i }@? @?_ T@ti

HS hLtt tTiU|h@* _i?t|) Lu |L *|ihtc @?_ @? ?|ihThi|@|L? Lu tTiU|h@* _i?t|)

Oihi


77/125

'[

e3/[&c,

K&K2,.E%|3&%|33, '[

e3/[&c,

K&K2,n,3&E%

wi| 6 ' n , &c tL ' 6 , n &c

[6

e3/E63,n&[&[,

K&K2,6 ' [&

K&e3/&[

,

K2,e/, [

6

e3/66E%

Lc tTTLti KEu t @ M@?_T@tt *|ihc

KEe3/ '

+c m / m5 dkc qo

f i*tiihic

@t _tT*@)i_ ? HS Ai?c |i @h@?Ui Lu *|ihi_ _@|@ }it |i @ih@}itTiU|h@* _i?t|) ? |i ?_L E`i


78/125

@hEKEu%| n @hEK2Eu%| n

5?Ui |i ?_Lt _L ?L| Lih*@Tc |i UL@h@?Ui |ih4t @hi 3ihL t |i?_Lt }i| t4@**ih @?_ t4@**ihc |i ?_Lt @TThL@U @ _i*|@ u?U|L?c tL|i UL4TL?i?|t KEu%| t|@h| |L *LL! 4Lhi @?_ 4Lhi *!i Thi ULt?i @it @|@ t?}*i uhiî?U) W? |t @)c |i tTiU|h@* _i?t|) _iUL4TLtit |i @h@?Ui

Lu |i tihit ?|L |i @h@?Ui LuLh|L}L?@* t?i @?_ ULt?i @it @| _gihi?|uhiî?Uit

H. L?t|hU|?} *|iht

W?ihtL? uLh4*@

vL 4@) @i L?_ihi_ ? |i @MLic L _L i !?L |@| @ *|ih i|t| @ }i? _ithi_ uhiî?U) hitTL?tiq Wu | it|tc L _L )L UL?t|hU||q Ai @?tihc Lu ULhtic t |L ti |i ?ihtL? uLh4*@c

K '

2Z

]Z3Z

e/KEe3/_/

6Lh i@4T*ic *i|


79/125

6}hi H.G L?} @ih@}i i}|t Lu @ M@?_T@tt *|ih

_iUL4TLt|L?tc @?_ 4@?) L|ih t|@|L?tc )L |?! Lu )Lh LMtihi_ tihit f| @t UL4TLti_ Lu |L UL4TL?i?|tc %| @?_ | |@| )L _L ?L| LMtihitiT@h@|i*) OLiihc )L _L @i tL4i ThLh _i@t @ML| |i tTiU|h@* t@Ti

Lu |i |L UL4TL?i?|t BhL| t *L?}h?c ti@tL?@*t @hi ti@tL?@*c i|Utt4i |@| |i |L UL4TL?i?|t @hi ?ULhhi*@|i_ @| @** *i@_t @?_ *@}t

f| ' %| n |c .E%|r ' f

Ai L?*) |?} )L U@? _L t UL?t|hU| @ RMit| }itt Lu %| }i? )Lh _@|@L? f|c ic UL?t|hU| @ *|ih |@| hiULiht |i ThLiU|L? Lu %| L? |i fThLUittc

%| '

"['3"f|3 n "| , %| '

"['3"f|3

Ai T@h@4i|iht @hi }i? uhL4 ?ih|?}

Ee3/ '7%E/

7%E/ n 7E/'

7%E/

7fE/

hLLuG E*iu| @t @ ThLM*i4

At uLh4*@ t @? i@4T*i Lu @ ThLM*i4 |@| t 4U i@tih |L tL*i? |i uhi^i?U) _L4@?- E u@?U) ?@4i 4}| Mi RLT|4@* ti@tL?@* ELh|hi?_%U)U*i i|h@U|L?

.H


80/125

HH 54t @TThL4@|L? uLh4*@

u|i?c E@*@)t i @TThL4@|i |hic ??|iLh_ih + ThLUittit M) ?|iLh_ih 4L_i*t Aihi t @ ?i@| tTiU|h@* hiThiti?|@|L? Lu |t @TThL4@|L?}i? M) |i 54t @TThL4@|L? uLh4*@G 5TTLti |i |hi ThLiU|L? Lu +|L? i%|j t

+| '"[

'3"

Kf%|3 n "|

M| @ hiti@hUih |t M) w5 @ hit|hU|i_ ihtL?c

+| '"[

'3"

K%|3 n |

Ai iK

j *i ? tL4i hit|hU|i_ tT@Uic uLh i@4T*ic |i hiThiti?|@|L?tLu @? +ETc^ W? TLT*@|L?c w5 ELh 4@44 *!i*LL_ | ?Lh4@*_ ihhLht TU!t K |L 4?43i]Z

3Zm KfEe3/ KEe3/ m2 7%E/_/

hLLuG E*iu| @t @ ThLM*i4

w5 |hit |L 4@|U @? @ih@}i Lu KfEe3/ KEe3/ Lih |i i?|hi tTiU|h4 uhL4 Z |L Z OL @h_ | |hit |L 4@|U |i4 _iTi?_t L? |i tTiU|h@*_i?t|) Lu Atc w5 ** t@UhUi @UUh@U) Lu |i it|4@|i_ KEu t @ t4@**uhi^i?U) ?_Lc @?_%Lh @ ?_L ? U 7%E/ t t4@**c |L }i| Mi||ih@UUh@U) ? @ *@h}i ?_Lc @?_%Lh @ ?_L ? U 7%E/ t *@h}i

He +i*@|L? Mi|ii? 5TiU|h@*c L*_c @?_

|LUL@h@?Ui hiThiti?|@|L?t`i @i _tUtti_ |hii _gihi?| u?_@4i?|@* hiThiti?|@|L?t uLh |4i tihitThLUittitG |i @|LUL@h@?Ui u?U|L?c |i L*_ E4 @?_ |i tTiU|h@*_i?t|) Ai uL**L?} _@}h@4 t44@h3it |i hi*@|L? Mi|ii? |i |hii

.b


81/125

hiThiti?|@|L?t

|Lhi}hitL?t&

`L*_ E4

( %| 'S"

'f w"|3c 0W?uih + 1 wEu ?ih|M*i ) 7E/ ' wEe3/wEe/j2"& '

S"'f wwn&j

2" j

2" ' e

2Z

UZ

3Z*?7E/_/

|LUL@h@?Ui $ 7E/ 'S"

&'3" e3&/& $ 5TiU|h@* _i?t|) 7E/

& ' .E%|%|3& # & '2Z

UZ3Z e

3&/7E/_/ #

,@U Lu |i |hii hiThiti?|@|L?t U@? Mi it|4@|i_ _hiU|*)G i ?_ |i`L*_ M) h???} @|Lhi}hittL?t @?_ t4*@|?} |i 4T*tihitTL?tiu?U|L?( i U@? ?_ |i @|LUL@h@?Uit M) ?_?} t@4T*i @|LUL@h@?UitAi ?i| U@T|ih _tUttit tTiU|h@* _i?t|) it|4@|it 6hL4 i@U hiThiti?|@|L? i U@? _ihi |i L|ihtc @t tL?

Ai L?*) ThLUi_hi i @i ?L| _tUtti_ tL u@h t L |L }L uhL4tTiU|h@* _i?t|) |L L*_ Ai Ui?|h@* ?t}| |L _L?} |t t |L hi@*3i|@| |i hLL|t Lu |i tTiU|h@* _i?t|) u?U|L? @hi |i t@4i @t |i hLL|tLu |i L*_ 4L?} @ih@}ic T*t |i ?ihtit Lu |Lti hLL|t Wu %| 'wEu"| 'UL?t|Eu bEu b2c tL |@| wE5 'UL?t|E3bE5 b2cb @?_bc b2c@hi hLL|tc |i? 7%E5 'UL?t|

2E3bE5b2E33bE53b2tL

|@| bc b2c @?_ b3 c b32 @hi hLL|t Atc ?_ hLL|t Lu |i tTiU|h@* _i?t|)c |Lti L|t_i |i ?| UhU*i @hi |i hLL|t Lu |i `L*_ *@} TL*)?L4@* AL?_ j2" c i|ih 4@!i thi |@| |i ?|i}h@* Lu |i tTiU|h@* _i?t|) i^@*t |i@h@?Ui Lu |i `L*_ hiThiti?|@|L?c Lh ti |i _hiU| uLh4*@ }i? @MLi

Hf


82/125

@T|ih b

5TiU|h@* @?@*)tt ? ?|it@4T*it

5L u@hc i @i Mii? U@h@U|ih3?} TLT*@|L? 4L4i?|t Lu @ |4i tihit W|


83/125

hLLuG at| *!i |i ThLLu Lu |i ??|i t3i ?ihti |h@?tuLh4

A*2[/

e/|%/ '

A*2[/

e/|

A*2

A['

e3/% '

A

A['

%[/

e/E|3

[/

e/E|3 '+

A u | ' ff u | 9' f

W| t @?_) |L T| |t |h@?tuLh4@|L? ? 4@|h ?L|@|L? wi|

` ' A*2

5

997e3/ e32/2 e3/2 e32/2

6

::8( | '

5

997%%2

6

::8( / '

5

997%/%/2

6

::8Ai?c i U@? h|i |i uLhih |h@?tuLh4 @?_ |t ?ihti @t

/ ' `|c | ' À/

ihi À ' E`W ' E`W _i?L|it RUL4T*i UL?}@|i @?_ |h@?tTLtiL|i À` ' ` À ' Uc ic uLhih |h@?tuLh4?} @?_ |i? ?ihti |h@?tuLh4?} }i|t )L M@U! ihi )L t|@h|i_ @|hUit ` | |t ThLTih|) @hi

U@**i_ ?|@h) 4@|hUit

b2 @?_ tTiU|h4 hi}hittL?

b2 L|@|L?

ì ih) uhiî?|*) *|ih tihit MiuLhi i *LL! @| hi*@|L?t Mi|ii? |i4Qi _i|hi?_ |i4c _iti@tL?*@3i |i4c i|U W4T*U|*)c |iti ThLUi_hit 4i@?

|@| i |?! hi*@|L?t @hi _gihi?| @| _gihi?| uhiî?Uitc @?_ i @?| |LtL*@|i |i uhiî?Uit Lu ?|ihit| MiuLhi i *LL! @| |i hi*@|L?c h@|ih |@?M*_ @? i?UL4T@tt?} 4L_i* Lu |i hi*@|L? Mi|ii? tihit @| @** uhiî?UitR@?_ tTiU|h4 hi}hittL? t @ |iU?î _it}?i_ |L |?! @ML| |itit|@|L?t W |?! |@| | t ?L| tL tiu* ? |ti*uc M| W ?_ | @ ih)tiu* @) Lu |?!?} @ML| @| i


84/125

Oihi @hi tL4i i@4T*it Lu t|@|L?t ? U i |?! hi*@|L?t @h)@UhLtt uhi^i?Uitc @?_ uLh U *|ihi_ _@|@ @i Mii? ti_G

,@4T*i G k)_*@?_ @?_ hitUL||k)_*@?_ @?_ hitUL|| t4*@|i @ 4L_i* |@| }it hti |L t|@|L?@h)|4i

tihit T@||ih?t uLh Bc UL?t4T|L?c i|U OLiihc |i Bc UL?t4T|L?c

i|U _@|@ @hi ?L| t|@|L?@h)G ?L| L?*) _L |i) |hi?_ T@h_t M| |i) ?U*_i?|ihit|?} T@||ih?t @| *L?} Lh3L?tc tU @t |i RThL_U||) t*L_L?Lu |i .frc @t i** @t hiUittL?t k)_*@?_ @?_ hitUL|| L?*) _it}?i_ |ih4L_i* |L U@T|hi |i Mt?itt U)U*i ULhhi*@|L?t Lu |i |4i tihit( i?Ui|i) *|ihi_ |i tihit | |i OL_hU!hitUL|| *|ih Eitti?|@**) @ }T@tt *|ih MiuLhi UL4T|?} UL@h@?Uit

,@4T*i 2G w@MLh tTT*)Ai wU@thitUL|| 4L_i* Lu *@MLh tTT*) 4@!it @ _t|?U|L? Mi|ii?

Tih4@?i?| @?_ |h@?t|Lh) U@?}it ? @}i h@|it |h@?t|Lh) U@?}i? @}i h@|it @t ?L ?UL4i igiU|c @?_ tL ?_Uit @ *@h}i ?Uhi@ti ? *@MLhtTT*) E?|ih|i4TLh@* tMt|||L? Tih4@?i?| ?Uhi@ti @t @? ?UL4iigiU|c @?_ tL ?_Uit @ 4U t4@**ih ?Uhi@ti ? *@MLh tTT*) At 4L_i*4}| 4@!i |i uL**L?} |4i tihit Thi_U|L? **t|h@|i_ ? }hi bG

6}hi bG A4i tihit Lu @}it @?_ *@MLh tTT*)

t )L U@? tiic i iTiU| @ _gihi?| hi*@|L? Mi|ii? @}it @?_ *@MLhtTT*) @| Mt?itt U)U*i uhi^i?Uit t *L?}ih Lh3L?t

,@4T*i G L?i) tTT*) @?_ ?|ihit| h@|itL?i?|L?@* |i|MLL!t |i** )L |@| 4L?i) }hL| ?Uhi@tit @i @ tLh|

h? ?i}@|i 4T@U| L? hi@* @?_ i?Ui ?L4?@* ?|ihit| h@|itc M| @ *L?} h?cL?iuLhL?i 4T@U| L? ?@|L? @?_ i?Ui ?L4?@* ?|ihit| h@|it Ai }i?ih@*

H


85/125

i t |@| |i |4itihit hi*@|L? Mi|ii? 4L?i) @?_ ?|ihit| h@|it *LL!ttL4i|?} *!i }hi b2

6}hi b2G L?i) @?_ ?|ihit| h@|it

}@?c |i hi*@|L? Mi|ii? 4L?i) }hL| @?_ ?L4?@* ?|ihit| h@|it_iTi?_t L? |i uhiî?U) @| U )L *LL! @| | | } uhiî?Uit iiTiU| @ ?i}@|i hi*@|L?c @| *L uhiî?Uit i iTiU| @ TLt|i hi*@|L?

,@4T*i eG 5i@tL?@* @_t|4i?|Lt| Lu |i |4i i ti ti@tL?@**) @_t|i_ _@|@ 5i@tL?@* @_t|4i?|

t @ M@?_ T@tt *|ih |@| @||i?@|it Lh i*4?@|it ti@tL?@* uhiî?Uit At

ThLUi_hi 4t| hiiU| @ Mi*iu |@| |ihi t @ _gihi?| hi*@|L? Mi|ii?@h@M*it @| ti@tL?@* @?_ ?L?ti@tL?@* uhiî?Uit 6Lh i@4T*ic |ihi t@ |hi4i?_Lt ti@tL?@* ? ?L?_h@M*i @?_ tihUit UL?t4T|L? }hL|( |iti Lu ti@tL?@**) @_t|i_ UL?t4T|L? _@|@ ? @tti| ThU?} hiiU|t @ Mi*iu|@| UL?t4iht _L ?L| |h) |L t4LL| |iti ? @tti| 4@h!i|t

`+WBG AL} *|ih?} t ih) UL44L? ? |iti t|@|L?tc | tThLM@M*) RhL?} Ai R+}| |?} |L _L t }i?ih@**) tTiUu) |i L*i4L_i*c @| *L?}c tLh|c ti@tL?@*c @?_ ?L?ti@tL?@* uhiî?Uitc @?_ it|4@|i|i i?|hi _)?@4U t)t|i4 Ai ?_ih*)?} iUL?L4Ut |)TU@**) _Lit ?L|

tiT@h@|i M) uhiî?U) ? LT|43?} @}i?| u@U?} @ tLU! | @ ti@tL?@*@?_ ?L?ti@tL?@* UL4TL?i?| ** ti| t UL?|hL* @h@M*i @| ?L?ti@tL?@* uhiî?Uit ? @ @) |@| hiiU|t |i ti@tL?@*t BhL| |iLh) @?_ Mt?ittU)U*i |iLh) 4@) i@U 4@!i Thi_U|L?t @| i@U L|iht< uhiî?Uitc tL L?iU@??L| hi@**) UL4i T | tiT@h@|i |iLhit |L iT*@? tiT@h@|i M@?_t Lu |itTiU|h4 Ai ThLTih _t|?U|L? Mi|ii? tLU!t 4@) Mi RiTiU|i_ @?_

He


86/125

R?iTiU|i_ h@|ih |@? R*L uhiî?U) t R} uhiî?U) L?i|i*ittc hi4L?} uhiî?U) M@?_t MiU@ti )L @i @ 4L_i* |@| L?*) @TT*it@| Uih|@? uhiî?Uit t ih) UL44L?c ii? u |@| U@h@U|ih3@|L? Lu |i4L_i*


87/125

+| ' %|q2 n "| ETihL_

`@| _L )L _Lq vL it|4@|i tiT@h@|i hi}hittL?tc Lh )L _hLT uhL4 )Lht@4T*i |i |4i TihL_t ? U )L |?! q U@?}i_ uhL4 |i R|hi @*i|@| )L @?| |L it|4@|i

Ai i^@*i?Ui Lu |i hi}*@h @?_ uhi^i?U) _L4@? w5 @tt4T|L?t

tLt )L |@| w5 @tt4it |@| q t |i t@4i @UhLtt uhi^i?Uitc @t |@tt4it |@| q t |i t@4i Lih |4i @?_ tTiU|h4 hi}hittL? MiUL4ittiu* i? )L _L?


88/125

Aihi t L?i @h??}G Wu i _hLT & uhiî?Uit ? |i M@?_tTiU|h4hi}hittL?c w5 L? |i uhiî?U) _L4@? _@|@ ** TU! T |i u@U| |@| L?*)A & _i}hiit Lu uhii_L4 @hi *iu| OLiihc |ihi @hi t|** A |4i_L4@?LMtih@|L?tc tL )L ?ii_ |L ULhhiU| t|@?_@h_ ihhLht uLh |i *Lt| _i}hiitLu uhii_L4 *|ih?@|i*)c ?L|i |@| "| t tih@**) ?ULhhi*@|i_c `

A`| t

tih@**) ULhhi*@|i_c tL )L @i |L ULhhiU| uLh tih@* ULhhi*@|L? Lu |i ihhLh ??uihi?Ui

u ULhtic | t ?*!i*) |@| )Lh ThLht @hi |t t@hT|@| Uih|@? uhiî?Uit Mi*L?}c @?_ Uih|@? L|iht _L?


89/125

%| t 4i@? 3ihLc .E%/ ' f Ai @h@?Ui @?_ UL@h@?Uit @hi

*4A


90/125

ihi

.E_5E/_5Eb '

+7%E/_/ uLh / ' b

f uLh / 9' b

Ai _5 @hi ?Uhi4i?|t Lu @ hL?@? 4L|L? E *||*i 4Lhi ThiUti*)c |ih@?_L4 @h@M*i

~E/ ']/3Z

_5Eb

@t ?ULhhi*@|i_ ?Uhi4i?|tG .d~E ~E2E~E2 ~Eo ' f }@?c|i _i@ t |@| i _h@ |t hL?@? 4L|L? uhL4 Z |L Z @| |i Mi}???}Lu |4ic @?_ |i? ** L| |i %| t MiuLhic |i T@t| t|Lh) Lu % t ?L|tUi?| |L ?uih |i L*i ~ T@|c tL % t t|** ?_i|ih4?t|U

At t @| i hi@**) 4i@? M) R|i UL4TL?i?| @| uhi^i?U) / Lu @?L?_i|ih4?t|U tihit t )L U@? tiic Mi?} hi@**) ThiUti @ML| | 4i@?t

i @i |L t|_) hL?@? 4L|L?tc U W


91/125

`i U@? UL?t|hU| tTiU|h@* _i?t|) it|4@|it M) uLhih |h@?tuLh4?} |iti@|LUL@h@?UitG

7E/ 'A3[

&'3EA3

e3/&&

be2 5@4T*i tTiU|h@* _i?t|)

tiUL?_ @TThL@U t t}}it|i_ M) Lh _i?|L? Lu |i ?|i uLhih |h@?tuLh4 5?Ui

*4A


92/125

EAL UiU! |i *4|t L? |i t4tc ihu) |@| i@U %|% t t|**UL?|i_ L?Ui W| 4@) i*T |L T*L| i@U UL4M?@|L? L? @ | t

}h_c @?_ ihu) |@| |i tiUL?_ t)t|i4 ?_ii_ }i|t i@U L?iL?Ui vL


93/125

hLLuG

A

[/

e/&UE/ '

A

[/

e/&[

e3/ '

A

[

[/

e/E&3

'

A[

A BE& ' &

E5?Ui i __ ?L| __i M) *A*2 }L?} uhL4 |L Wc i __i M) A }L?}M@U!

bee t)4T|L|U _t|hM|L? Lu t@4T*i tTiU|h@* _i?t|)

Oihi @hi tL4i u@U|t @ML| |i @t)4T|L|U _t|hM|L? Lu |iti tTiU|h@* _i?t|) it|4@|itG

*4A


94/125

beD 54LL|i_ TihL_L}h@4 it|4@|it

Oihi t L?i tL*|L? |L |t ThLM*i4G W?t|i@_ Lu it|4@|?} 7E/ M) UE/c@ih@}i UE/ Lih tiih@* ?i@hM) /t 5?Ui 7E/ t @ t4LL| u?U|L? @?_@_@Ui?| UE/ @hi ?ULhhi*@|i_ ? *@h}i t@4T*itc |t LTih@|L? hi_Uit @h@?Ui |L| @__?} |LL 4U M@t u ULhtic L 4@?) ?i@hM) UE/ |L?U*_i ** Mi @ |hU!) ttic @ |h@_iLg Mi|ii? @h@?Ui @?_ M@t tA $ 4c ThL4ti |L t*L*) hi_Ui |i h@?}i Lu @ih@}i_ /t vL @?| |Lhi_Ui | tL |@| @t A $ 4 )L @hi ? u@U| L?*) it|4@|?} 7E/c M| )L@?| |L hi_Ui | t*L*) tL |@| *@h}ih @?_ *@h}ih ?4Miht Lu %/ i?|ih |iM@?_ @t A $ 4

hiUti*)c UL?t_ih @ t4LL|i_ TihL_L}h@4 it|4@|Lh 7E/ 'UZ3Z Eb

/UEb_b Lh 7E/ 'S

bEb /UEb ihi t @ 4L?} @ih@}i u?U|L?

@t tL? ? }hi b AL 4@!i |i it|4@|i @t)4T|L|U@**) ?M@ti_ @?_

6}hi bG 54LL|i_ TihL_L}h@4 it|4@|i Lu tTiU|h@* _i?t|)

|t @h@?Ui }L |L 3ihL E@?_ @*tL UL?tt|i?| )L @?| |L 4@!i ThL4tit @ttL? ? }hi beuLh |i t3i Lu |i ?_L u )L }L| 4Lhi _@|@G 5?Ui4Lhi @?_ 4Lhi TihL_L}h@4 Lh_?@|it i?|ih @t A $ 4c |i @h@?Ui }Lit |L

3ihL | t?Ui |i t3i Lu |i ?_L }Lit |L 3ihL @t A $ 4c |i M@t }Lit|L 3ihL @t i**

beS i}|i_ UL@h@?Ui it|4@|it

Vi?} |i ThLM*i4 @t |i ?U*tL? Lu TLLh*) 4i@thi_c }Lh_ih @|LUL@h@?Uitc i 4}| |h) |L it|4@|i |i tTiU|h@* _i?t|) M) *Lih?} |i

b


95/125

6}hi beG 54LL|i_ TihL_L}h@4 it|4@|i @t t@4T*i t3i ?Uhi@tit

i}| L? |i } @|LUL@h@?Uit Atc UL?t_ih

7E/ 'A3[

&'3EA3

e3/&}E&&

ihi }E& t @ u?U|L? @t tL? ? }hi bD 6Lh i@4T*ic |i @h|*i||

6}hi bDG L@h@?Ui i}|?} u?U|L?

?_L t |h@?}*@h t@Ti_c

7E/ 'o[

&'3o

e3/&E m & m

o&

}@?c |ihi t @ |h@_i Lg Mi|ii? M@t @?_ @h@?Ui #L? i}|?}|i } @|LUL@h@?Uit 4ThLit @h@?Ui M| ?|hL_Uit M@t }@?c L?i

be


96/125

U@? 4@!i ThL4tit |L 4@!i |t }L @@) ? *@h}i t@4T*it Oihic L?i @?|t|L ThL4ti |@| }E& $ @t A $ 4 |L i*4?@|i M@t Atc uLh i@4T*ic@? @TThLTh@|i ti| Lu @h|*i|| ThL4tit t o $ 4 @?_ o*A $ f @t A $ 4(|t U@? Mi @Uii_ | o A*2

be. +i*@|L? Mi|ii? i}|i_ UL@h@?Ui @?_ t4LL|i_TihL_L}h@4 it|4@|it

L| thTht?}*)c |iti |L it|4@|it @hi hi*@|i_ ,ih) i}|i_ UL@h@?Ui it|4@|i t i^@*i?| |L @ t4LL|i_ TihL_L}h@4 it|4@|ic ihi |it4LL|?} u?U|L? t ThLTLh|L?@* |i uLhih |h@?tuLh4 Lu |i i}|?}u?U|L?( @?_ Uiiht@

hLLuG

7E/ '[&

e3/&}E&& '[&

e3/&}E&

2Z

]Z3Z

eD&UEb_b '

]Z3Z

2Z

#[&

e3E/3b&}E&

$UEb_D '

]Z3Z

E/ bUEb_D

54*@h*)c L?i U@? ti |i ?|i uLhih |h@?tuLh4 @| A uhiî?Uitc

7E/ '[&

e3/&

}E&& '[&

e3/&

}E&

A[D e

b&

UEb '

[D

#

A

[&

e3E/3b&}E&

$UEb '

[D

E/ bUEb

beH V@h@?Ui Lu *|ihi_ _@|@ it|4@|it

*@t|c i^@*i?| @TThL@U t |L *|ih |i _@|@ | @ *|ih |@| tL*@|itUL4TL?i?|t ? @ uhiî?U) ?_Lc @?_ |i? |@!i |i @h@?Ui Lu |i *|ihi_ tihit u|ih @**c tTiU|h@* _i?t|it @hi tTTLti_ |L Mi |i @h@?Ui LuUL4TL?i?|t @| @hLt uhiî?Uit `| @ t|@M*) ULti? *|ihc |t @TThL@U t i^@*i?| |L i}|i_ TihL_L}h@4 Lh UL@h@?Ui it|4@|it Atc*i|

%s| ' 8Eu%|

bD


97/125

Oi?Uic

@oE%s| '

2Z

]Z3Z

m 8Ee3b m2 7%Eb_b

5L @** )L @i |L _L t TU! 8Eu tL |@|

2Z m 8Ee3b m2' E/ b

V@h@?Ui h@|L it|4@|it Lu |i tTiU|h@* _i?t|) @| uhiî?U) 3ihL @hi i@4T*it Lu |t ThLUi_hi

beb 5TiU|h@* _i?t|) 4T*i_ M) + 4L_i*t

** Lu |i @MLi it|4@|it @hi ?L?T@h@4i|hU ?i hi@tL? W __ |i4 t

|L ?|hL_Ui )L |L ?Uhi@t?}*) u@tL?@M*i ?L?T@h@4i|hU it|4@|L? uULhtic L?i U@? it|4@|i tTiU|h@* _i?t|it T@h@4i|hU@**) @t i** 6| @? -Lh + ThLUittc ?_ |t `L*_ hiThiti?|@|L?

%| ' wEu"|

@?_ |i?7E/ 'm wEe3/ m2 r2"

OL i** |t Lh!t _iTi?_t L? |i ^@*|) Lu |i T@h@4i|hU @TThL4@|L?5?Ui w5 |hit |L 4@|U |i L*i uhiî?U) h@?}ic |t |iU?î 4@)t@UhUi @UUh@U) ? t4@** ?_Lt |@| )L 4}| Mi ?|ihit|i_ ?c |L }i|4Lhi @UUh@U) ? *@h}ih ?_Lt )L 4}| ?L| U@hi @ML|

bef t)4T|L|U _t|hM|L? Lu tTiU|h@* it|4@|it

Ai @t)4T|L|U _t|hM|L? Lu t4LL|i_ TihL_L}h@4 % i}|i_ UL@h@?Uiit|4@|it LMLt*) ** _iTi?_ L? |i t@Ti Lu |i ?_L % i}|?}

u?U|L?c @?_ |i ThL4tit )L 4@!i @ML| L |@| t@Ti @hit @t A $ 4ì? )L @?| |L ti L?ic *LL! | T

bS


98/125

@T|ih f

N?| +LL|t

f +@?_L4 @*!tAi M@tU h@?_L4 @*! t

%| ' %|3 n "|( .|3E"| ' f

L|i |i ThLTih|).|E%|n ' %|

t @ hit*| Lu |t ThLTih|)c h@?_L4 @*!t @hi TLT*@h 4L_i*t uLh @tti| ThUit+@?_L4 @*!t @i @ ?4Mih Lu ?|ihit|?} ThLTih|it Ai 4T*tihitTL?ti u?U|L? Lu @ h@?_L4 @*! t L?i @| @** Lh3L?t

Ai 4T*tihitTL?ti u?U|L? Lu t|@|L?@h) ThLUittit _it L| ii?|@**)2 Ai uLhiU@t| @h@?Ui Lu |i h@?_L4 @*! }hLt *?i@h*) | |i uLhi

U@t| Lh3L?@oE%|n& m %| ' @oE%|n& %| ' &j

2"

Ai uLhiU@t| ihhLh @h@?Ui Lu @ t|@|L?@h) tihit @TThL@Uit @ UL?t|@?|c |i

?UL?_|L?@* @h@?Ui Lu |@| tihit u ULhtic |i @h@?Ui Lu |i h@?_L4@*! t ??|ic tL ? @ ti?tic |i t@4i t |hi Ai @|LUL@h@?Uit Lu @ h@?_L4 @*! @hi?


99/125

Atc @ t}? Lu @ h@?_L4 @*! t |@| @** |i it|4@|i_ @|LULhhi*@|L?t @hi?i@h L?ic Lh _i L| R|LL t*L*)

e Ai tTiU|h@* _i?t|) E?Lh4@*3i_ M) |i @h@?Ui Lu |i -E t

sE/ ' dE e3/E e/o3 '

n 2

2 ULtE/

W? |i *4| $ i }i|

sE/ '

2E ULtE/

t / $ fc 7E/ $ 4 Atc |i @h@?Ui Lu @ h@?_L4 @*! t Th4@h*) _i|L *Luhiî?U) UL4TL?i?|t Ai t}?@|hi Lu @ h@?_L4 @*! t |t |i?_i?U)|L @?_ih @hL?_ @| *L uhiî?Uit

f2 L|@|L?t uLh ?| hLL|t

f2 5|LU@t|U |hi?_t

?i hi@tL? 4@UhLiUL?L4t|t }L| ?|ihit|i_ ? ?| hLL|t t |i ît|L? LuL |L hiThiti?| |hi?_t ? |4i tihit N?|* |i *@|i .fr | @t UL44L? |Lt4T*) | @ *?i@h |hi?_ |L *L} B EM) w5c @?_ |i? _i?i |i t|LU@t|UT@h| Lu |i |4i tihit @t _i@|L?t uhL4 |t |hi?_ At ThLUi_hi *i| |LThLM*i4t i? | tii4i_ *!i |i R|hi?_c RTL|i?|@* i|U B }hL|h@|i t*Li_ _L? 5?Ui |i t*L_L? @t ?L| uLhitii? | @t @h_ |L }L@ML| Mt?itt @t t@* | 4Lhi UL4T*i _i|ih4?t|U |hi?_tc tU @tTL*)?L4@*t W?t|i@_c 4@UhLiUL?L4t|t }L| ?|ihit|i_ ? t|LU@t|U |hi?_tc@?_ h@?_L4@*! |)Ti ThLUittit }i @ UL?i?i?| hiThiti?|@|L? Lu tU|hi?_t t?Ui |i) @?_ih @hL?_ @| *L uhiî?Uit

f22 ih4@?i?Ui Lu tLU!t

?Ui TL? @ |4ic 4@UhLiUL?L4t|t hL|?i*) _i|hi?_i_ _@|@c @?_ hi}@h_i_Mt?itt U)U*it @t |i ETihuLhUi t|@|L?@h) _i@|L? @ML| |@| |hi?_ W|@t ti*) @UUiT|i_ |@| Mt?itt U)U*it ihi tLh|h? E?L 4Lhi |@? @ui )i@htc @| 4Lt| _i@|L?t uhL4 |hi?_ OLiihc 4@UhLiUL?L4t|t @i

bH


100/125

hiUi?|*) ^it|L?i_ |t |4iL?Lhi_ @tt4T|L?c @?_ @i t|@h|i_ |L L?_ih i|ih tLU!t |L B 4}| ?L| 4Lhi U*Lti*) hiti4M*i |i Tih4@?i?|tLU!t Lu @ h@?_L4 @*! 4Lhi |@? |i |h@?t|Lh) tLU!t Lu |i L*_ -E2@ML| @ *?i@h |hi?_ W? |i ht| hL?_ Lu |iti |it|tc | @t U*@4i_ |@| |iTih4@?i?Ui Lu tLU!t ti_ *}| L? i|ih |i) ihi Rhi@* ER|iU?L*L})

Lh R4L?i|@h)c RtTT*) Lh R_i4@?_c i|U Lc | n +|3 n "|

bb


101/125

M) w5 @?_ |it|?} i|ih ' OLiihc |i @tt4T|L?t ?_ih*)?} |it@* @t)4T|L|U _t|hM|L? |iLh) uLh w5 it|4@|it @?_ |it| t|@|t|Ut @hiL*@|i_ ihic t?Ui%%*A _Lit ?L| UL?ih}i ? ThLM@M*|)

#U!i) @?_ 6**ih *LL!i_ @| |i _t|hM|L? Lu |t !?_ Lu |it| t|@|t|U@?_ uL?_ |@| w5 it|4@|it @hi M@ti_ _L? E|L@h_t t|@|L?@h|) @?_

w5 t|@?_@h_ ihhLht @hi |}|ih |@? |i @U|@* t|@?_@h_ ihhLht Atc | tTLttM*i |@| 4@?) tihit |@| )L L*_ @i |L}| ihi t|@|L?@h) M@ti_L? L*t hi}hittL?t ihi ? u@U| }i?ih@|i_ M) h@?_L4 @*!t

W?@TThLTh@|i _i|hi?_?}

A?}t }i| Lhti | @ |hi?_ ? |i 4L_i* 5TTLti |i hi@* 4L_i* t

+| ' > n +|3 n "|

5TTLti )L _i|hi?_ M) w5c @?_ |i? it|4@|i @? -Ec ic | |i 4L_i*

+| ' K| n E u3"|

At 4L_i* t i^@*i?| |L

E u+| ' E uK| n "| ' K| KE| n "| ' K n KE | n "|

Lh+| ' k n | n +|3 n "|c

tL )L UL*_ @*tL _hiU|*) h? + L? @ |4i |hi?_ @?_ *@}}i_ )W| |h?t L| |@| |t U@ti t ii? Lhti |@? |i *@t| L?ic ? |@| t

M@ti_ _L?@h_ @?_ |i w5 t|@?_@h_ ihhLht @hi 4t*i@_?} W?||i*)c|i h@?_L4 @*! }i?ih@|it @ *L| Lu *Luhi^i?U) 4Li4i?| W? @ hi*@|i*)t4@** t@4T*ic |i h@?_L4 @*! t *!i*) |L _hu| T Lh _L?( |@| _hu| UL*_i** Mi Eu@*ti*) 4L_i*i_ M) @ *?i@h ELh ?L?*?i@hc RMhi@!?} c i|U |hi?_*@4t |L tii |hi?_t ? tihit |@| @hi hi@**) }i?ih@|i_ M) h@?_L4 @*!t@hi|i Ui?|h@* u@**@U) Mi?_ 4U R|iU?U@* @?@*)tt Lu @tti| 4@h!i|t

5ThLt hi}hittL?

w@t|c tTTLti |L tihit @hi }i?ih@|i_ M) ?_iTi?_i?| h@?_L4 @*!tc

%| ' %|3 n "|

ff


102/125

+| ' +|3 n B| .E"|Br ' f uLh @** |c r

Lc tTTLti i h? +| L? %| M) w5c

+| ' k n q%| n D|

}@?c |i @tt4T|L?t Mi?_ |i t@* _t|hM|L? |iLh) @hi L*@|i_ W?|t U@tic )L |i?_ |L tii t}?U@?| q 4Lhi Lu|i? |@? |i w5 uLh4*@tt@) )L tL*_

Aihi @hi @? i?Lh4Lt ?4Mih Lu |t !?_ Lu |it| ? |i *|ih@|hi Ai)}i?ih@*3i |i h@?_L4 @*! |L @**L tih@* ULhhi*@|L? ? |i ihhLh E?| hLL|ThLUittit( i| n KEu"|

Aiti @hi tL4i|4it U@**i_ |hi?_t|@|L?@h) EA5 ThLUittitAi A5 4L_i* U@? Mi UL?t_ihi_ @t @ tTiU@* U@ti Lu |i #5 4L_i* Wu

@Eu UL?|@?t @ ?| hLL|c i U@? h|i |i #5 4L_i* @t

+| ' >| n KEu"| , E u+| ' > n E uKEu"| ' > n @Eu"|

f


103/125

E@Eu ' E uKEu

At u |i A5 4L_i* t ULhhiU|c |i #5 4L_i* t t|** @*_ @?_ t|@|L?@h)OLiihc | @t @ ?L??ih|M*i ?| hLL|

Ai #5 4L_i* t @ TihuiU|*) ?Lh4@* 4L_i* uLh _gihi?Uit `i U@? |?!Lu ?| hLL|t @t |i t|_) Lu |i 4T*U@|L?t uLh *ii*t Lu @ ThLUitt |@| t

t|@|L?@h) ? _gihi?Uitc h@|ih |@? @t @ }i?ih@*3i_ h@?_L4 @*! 6Lh |thi@tL?c | t ih) 4TLh|@?| ? @| uL**Lt |L !iiT |h@U! Lu i|ih )L @hi|?!?} @ML| |i *ii* Lu |i ThLUitt +| Lh |t ht| _gihi?Ui

i|c i


104/125

Ai *4|?} @*i Lu |i 4T*tihitTL?ti Lu |i #5 4L_i* t

"['f

@ ' @E

5?Ui |i A5 4L_i* t @ tTiU@* U@ti ? U @Eu ' E uKEuc @E ' f

u |i A5 4L_i* t |hi t i ** tii |t E@?_ L?*) |t t |i ui@|hi |@|_t|?}tit A5 uhL4 #5 4L_i*t L?Ui i @**L @hM|h@h) tih@* ULhhi*@|L?ci @hM|h@h) @Ew t|hU|hi

`@| |i #5 4L_i* @**Ltc U |i h@?_L4 @*! _Lit ?L|c t U@tit?|ih4i_@|i Mi|ii? t|@|L?@h) @?_ h@?_L4 @*! 6L**L?} @ tLU!c |itihit UL*_ UL4i M@U! |L@h_tc M| ?L| @** |i @) M@U! |Lc |t ?|@* @*iAt Mi@Lh t tL4i|4it U@**i_ R*L?}Lh3L? 4i@?hiih|?} 6Lh i@4T*ic u t|LU! ThUit @hi ?L| Thi h@?_L4 @*!tc |i) tL*_ _iU@) Lih @

TihL_ Lu )i@ht uL**L?} @ tLU!c Lh |ih Mi@Lh L*_ t}}it| ?iT*L|i_ThL| LTTLh|?|it 54*@h*)c B 4}| hiih| M@U! |L |hi?_ uL**L?} @tLU! Lih |i ULhti Lu @ Mt?itt U)U*ic t@) @ ui )i@htc h@|ih |@? ?iihEh@?_L4 @*! Lh ? @ ^@h|ih Lh |L

6}hi f2 tLt tL4i TLttM*|it

6}hi f2G W4T*ti hitTL?ti u?U|L?t uLh _gihi?| @E

f2 5TiU|h@* _i?t|)

Ai tTiU|h@* _i?t|) Lu |i #5 ThLUitt t

7E3u+|E/ ' m @Ee3/ m2 j2"

Ai tTiU|h@* _i?t|) @| uhi^i?U) 3ihL t 7E3u+|Ef ' @E2j2" Atc u m

@E m: fc |i? |i tTiU|h@* _i?t|) @| 3ihL Lu {+| t }hi@|ih |@? 3ihL Wu

f


105/125

@E ' f EA5c |i? |i tTiU|h@* _i?t|) Lu {+| @| 3ihL t i^@* |L 3ihL6}hi f tLt tL4i ?|ih4i_@|i TLttM*|it

6}hi fG 5TiU|h@* _i?t|it uLh tiih@* @E

Oihi *L?} Lh3L? 4i@? hiihtL? tLt T u |i tTiU|h@* _i?t|) t} ^|i ?i@h 3ihLc @?_ |i? _hLTt ^U!*)

f |LULhhi*@|L?

Ai tTiU|h@* _i?t|) @| 3ihL t

7E3u+|Ef ' f n 2"

[' '

3C

n 2"

['4

4D

f ' @E2j2"

Atc u |i ThLUitt t #5c m @E m: fc |i t4 Lu |i @|LULhhi*@|L?t t?L?3ihL Wu | t A5c @E ' fc |i t4 Lu |i @|LULhhi*@|L?t t 3ihL Wu| t @ h@?_L4 @*!c |i t4 Lu |i @|LULhhi*@|L?t t L?i( u | t 4i@?hiih|?}c |i? |i t4 Lu |i @|LULhhi*@|L?t t *itt |@? L?i

Ai *L?} Lh3L? @*|ih?@|i tLt T u |ihi @hi 4@?) t4@** ?i}@|i@|LULhhi*@|L?t @| } *@}t |@| _h@ |i ThLUitt M@U! |L@h_t |t ?|@*@*i uL**L?} @ tLU!

fe +@?_L4 @*! UL4TL?i?|t @?_ t|LU@t|U |hi?_t

tiUL?_ @) |L |?! Lu ThLUittit 4Lhi }i?ih@* |@? @ h@?_L4 @*!c Lh?|ih4i_@|i Mi|ii? h@?_L4 @*! @?_ t|@|L?@h) t |L |?! Lu UL4M?@|L?tLu h@?_L4 @*!t @?_ t|@|L?@h) UL4TL?i?|t At t i?|hi*) i^@*i?| |LLh _i?|L? Lu @ #5 ThLUittc @t W


106/125

6@U|G iih) (7 ThLUitt U@? Mi h||i? @t @ t4 Lu @ h@?_L4 @*! @?_ @t|@|L?@h) UL4TL?i?|

W ?ii_ L?*) iM| L?i @) Lu _L?} | _iUL4TLt|L? | T@h|U*@h*)?Ui ThLTih|it t |i

iih_}ii*tL? _iUL4TLt|L?G Wu E u+| ' > n @Eu"| |i? i U@?

h|i+| ' S| n 5|

ihi5| ' > n 5|3 n @E"|

S| ' @WEu"|( @

W '

"[&'n

@&

hLLuG Ai _iUL4TLt|L? uL**Lt 44i_@|i*) uhL4 |i @*}iMh@Uu@U| |@| @?) *@} TL*)?L4@* @Eu U@? Mi h||i? @t

@Eu ' @E n E u@WEu( @W ' "[

&'n

@&

Bi? |t u@U|c i @i E u+| ' > n @E"| n E u@WEu"|' E u5| n E uS|c tL i


107/125

? + Wu B t uLhiU@t|i_ |L htic B t RMi*L |hi?_ @?_ Uiiht@hiUti*)c

5| ' *4&


108/125

W? |i iih_}ii*tL? _iUL4TLt|L? |i ??L@|L?t |L |i t|@|L?@h)@?_ h@?_L4 @*! UL4TL?i?|t @hi TihuiU|*) ULhhi*@|i_ L?t_ih ?t|i@_ @?@hM|h@h) UL4M?@|L? Lu t|@|L?@h) @?_ h@?_L4 @*! UL4TL?i?|tc ? U|i ??L@|L?t @i tL4i @hM|h@h) ULhhi*@|L?

+| ' 5| n S|

5| ' > n 5|3 n D|

S| ' KEuB|

6@U|G W? ,ih) _iUL4TLt|L? Lu +| ?|L t|@|L?@h) @?_ h@?_L4 @*! UL4TL?i?|tc |i @h@?Ui Lu U@?}it |L |i h@?_L4 @*! UL4TL?i?| t |i t@4ic@E2 j2"

hLLuG A@!i _gihi?Uit Lu +|c

E u+| ' E u5| n E uS| ' > n D| n E uKEuB|

E u+| t t|@|L?@h)c tL 4t| @i @ `L*_ hiThiti?|@|L?

E u+| ' > n D| n E uKEuB| ' > n @Eu"|c

W|t tTiU|h@* _i?t|) @| uhi^i?U) 3ihL t

7{+Ef ' @E2j2" ' j

2De,R

Ai E u 4i@?t |@| |i B |ih4 _Lit ?L| @giU| |i tTiU|h@*_i?t|) @| 3ihL Atc |i tTiU|h@* _i?t|) @| 3ihL Lu E u+| t|i ??L@|L? @h@?Ui Lu v h@?_L4 @*! UL4TL?i?|

Ai *L?}Lh3L? 4i@? hiih|?} U@ti t L?i Lu @ t4@** @E At|t U@ti ULhhitTL?_t |L @ t4@** h@?_L4 @*! UL4TL?i?| @?_ @ *@h}i @?_?|ihit|?} t|@|L?@h) UL4TL?i?|

f.


109/125

fD 6LhiU@t| ihhLh @h@?Uit

5?Ui |i ?| hLL| ThLUitt t UL4TLti_ Lu @ t|@|L?@h) T*t h@?_L4 @*!UL4TL?i?|c )L tL*_ ?L| Mi thThti_ u |i ?| hLL| ThLUitt @t |it@4i @h@?Ui Lu uLhiU@t|t Mi@Lh @t |i h@?_L4 @*!c L?Ui |i Lh3L? t*L?} i?L} |@| |i t|@|L?@h) T@h| @t @** _i_ _L?

AL tii |tc ti |i iih_}i i*tL? _iUL4TLt|L?

+|n& ' 5|n& n S|n&

' 5| n &> n @EE"|n n "|n2 n n "|n& n @WEu"|n&

Ai @h@?Ui Lu |i ht| |ih4 t

&@E2j2"

uLh *@h}i &c |i @h@?Ui Lu |i tiUL?_ |ih4 @TThL@Uit |t ?UL?_|L?@*@h@?Ui @hES| ' @hE@

WEu"| 5?Ui |i @WEu _i L|c |i UL@h@?Ui |ih4

t @*tL _L4?@|i_ M) |i ht| |ih4 h EWu @WEu L?*) @_ ?|i*) 4@?) |ih4t|t L*_ Mi ii? 4Lhi LMLt Atc @| *@h}i &c

@o|E+|n& $ &@E2j2" n E|ih4t |@| }hL t*Lih |@? !

Ai M@tU _i@ t |@| |i h@?_L4 @*! UL4TL?i?| ** ii?|@**) _L4?@|ict?Ui |t @h@?Ui }Lit |L ??|) @?_ |i @h@?Ui Lu @?)|?} t|@|L?@h) tii?|@**) *4|i_

fS 544@h)

W? t44@h)c |i ^@?||) @E UL?|hL*t |i i|i?| |L U @ ThLUitt *LL!t*!i @ h@?_L4 @*! Wu

E u+| ' > n @Eu"|

|i?

@E ' *4| Lu +| 4T*tihitTL?ti@E2j2" ' 7E3u+|Ef@E2j2" ' @h E u h@?_L4 @*! UL4TL?i?|

@E2j2" '

n 2S"

' 4

@oE{+|

@E2j2" ' n 2S"

' @E2j2" ' *4&


110/125

W? |iti 4@?) @)t @E ^@?|it |i i|i?| |L U @ tihit *LL!t *!i@ h@?_L4 @*!

fe 544@h) Lu @E it|4@|it @?_ |it|t

MLt*)c it|4@|?} @?_ |it|?} @E t }L?} |L Mi @? 4TLh|@?| |@t!iuLhi hii?} tL4i @TThL@Uitc |ihi t @ }i?ih@* TL?| |@| 4t| Mi4@_i

fe i@h LMtih@|L?@* i^@*i?Ui Lu ?| hLL|t@?_ t|@|L?@h) ThLUittit ? ?|i t@4T*it

5L u@hc W


111/125

?U@?}i_ OLiihc ? @ ?|i t@4T*ic )L U@? U@?}i |i TihL_L}h@4Lh_?@|i @| 3ihL *i@?} @** |i L|iht @*L?i

?L|ih @) Lu t|@|?} |i TL?| t |@| E? @ ?|i t@4T*i |ihi @hi?| hLL| ThLUittit @hM|h@h*) U*Lti |L @?) t|@|L?@h) ThLUittc @?_ |ihi@hi t|@|L?@h) ThLUittit @hM|h@h*) U*Lti |L @?) ?| hLL| ThLUitt AL tii

|i ht| TL?|c |@!i @ t|@|L?@h) ThLUitt @?_ @__ @? @hM|h@h*) t4@** h@?_L4@*! UL4TL?i?| AL tii |i tiUL?_c |@!i @ ?| hLL| ThLUitt @?_ U@?}i |i?| hLL| |L bbbbbbb *Lti ihi U@? 4i@? @?) t|@|t|U@* 4i@thi Lu_t|@?Uic tU @t @|LUL@h@?Ui u?U|L?tc *!i*LL_ u?U|L?tc i|U

Bi? |iti TL?|tc )L U@? tii |@| |it|?} uLh @ ?| hLL| t t|@|L?@h)ThLUitt t LTi*itt ? @ ?|i t@4T*i i UL*_ @*@)t @__ @ |?) h@?_L4@*! UL4TL?i?| |L @ t|@|L?@h) ThLUitt @?_ 4@!i | @ ?| hLL| ThLUitt( )i|? @ ?|i t@4T*i i UL*_ ?iih |i** |i |L ThLUittit @T@h|

`@| ?| hLL| |it|t _L t |L hit|hU| |i ?**G |i) |it| uLh @ ?| hLL|T*t hit|hU|L?t L? |i @Ew TL*)?L4@*c tU @t @ ?|i Lh_ih -c ihtt|hi?_ t|@|L?@h) T*thit|hU|L?t L? |i @Ew TL*)?L4@* Ai?c |i) ThL4ti|L t*L*) hi4Li |i hit|hU|L?t @t t@4T*i t3i ?Uhi@tit

fe2 ,4ThU@* Lh! L? ?| hLL|t%Tihtt|i?Ui

,4ThU@* Lh! }i?ih@**) u@**t ?|L |hii U@|i}LhitG Ait|t uLh ?| hLL|t Ei*tL? @?_ *Lttih EbH2 Ai ht| !?_ Lu |it|t

ihi |it|t i|ih tihit tU @t B UL?|@?i_ ?| hLL|t t i @itii?c |i ThLM*i4 t |@| tU |it|t 4t| Mi @UUL4T@?i_ M) hit|hU|L?t L?@Ew Lh |i) @i ?L UL?|i?| 6h|ih4Lhic |


112/125

4T*i_ @E Lu |t T@h@4i|hU 4L_i* At ThLUi_hi @t @** |i @_@?|@}it@?_ _t@_@?|@}it Lu @?) tTiU|h@* _i?t|) it|4@|i M) T@h@4i|hU 4L_i* Wu|i T@h@4i|hU 4L_i* t ULhhiU|c )L }@? TLih M) t?} ?uLh4@|L? @| @**uhi^i?Uit |L | | Wu | t ?ULhhiU|c | ** @TT*) uLht@!i @UUh@U) ? |ihi}L? )L U@hi @ML| E?i@h uhi^i?U) 3ihL |L }@? 4Lhi @UUh@U) ? hi}L?t

)L _L?


113/125

@T|ih

L?|i}h@|L?

L?|i}h@|L? t }i?ih@*3@|L? Lu ?| hLL|t |L iU|Lh t)t|i4t t t@*c ?

iU|Lh t)t|i4t |ihi @hi @ ui tM|*i|itc M| @** |i uLh4*@t *LL! t| *!iLMLt }i?ih@*3@|L?t Lu |i tU@*@h uLh4*@t

#i?|L?

5TTLti |@| |L |4i tihit @hi i@U ?|i}h@|i_c i @i ?| hLL|tc @?_i?Ui 4L?} @ih@}i hiThiti?|@|L?t

E u+| ' @EuB|

E u| ' KEuD|

W? }i?ih@*c *?i@h UL4M?@|L?t Lu + @?_ @*tL @i ?| hLL|t OLiihc u|ihi t tL4i *?i@h UL4M?@|L?c t@) +| k|c |@| t t|@|L?@h)c +| @?_ |@hi t@_ |L Mi UL?|i}h@|i_c @?_ d ko t |ih UL?|i}h@|?} iU|Lh

Oihi @hi tL4i T*@tM*i i@4T*it wL} B @?_ *L} UL?t4T|L? i@UThLM@M*) UL?|@? @ ?| hLL| OLiihc |i UL?t4T|L?%B h@|L t t|@M*i Lih *L?} TihL_tc |t *L} UL?t4T|L? *L} B t t|@|L?@h)c @?_ *L}B @?_ UL?t4T|L? @hi UL?|i}h@|i_ Ai t@4i L*_t uLh @?) |L UL4TL?i?|t Lu B E?i

Documents

Time Series for Macroeconomics and Finance