Displays information about the initialization parameters that are currently in effect for the session. A new session inherits parameter values from the instance-wide values displayed by the V$SYSTEM_PARAMETER view.
Columns ___________________________ NUM NAME TYPE VALUE ISDEFAULT ISSES_MODIFIABLE ISSYS_MODIFIABLE ISMODIFIED ISADJUSTED DESCRIPTION UPDATE_COMMENT
The issys_modifiable column shows the type of parameter:
FALSE = Static parameter that cannot change its value in the lifetime of the instance. 
IMMEDIATE = dynamic, can change the active instance as well as future database restarts. 
DEFERRED = dynamic, changes only affect subsequent sessions.
Related:
List of all init.ora Parameters
Server Parameter Files - Examples - How to Edit 
V$NLS_PARAMETERS 
V$NLS_VALID_VALUES 
V$SYSTEM_PARAMETER 
V$PARAMETER2  - Formatted with one value per row