Search results for: fixed effects
11503 Sensitivity of Credit Default Swaps Premium to Global Risk Factor: Evidence from Emerging Markets
Authors: Oguzhan Cepni, Doruk Kucuksarac, M. Hasan Yilmaz
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Risk premium of emerging markets are moving altogether depending on the momentum and shifts in the global risk appetite. However, the magnitudes of these changes in the risk premium of emerging market economies might vary. In this paper, we focus on how global risk factor affects credit default swaps (CDS) premiums of emerging markets using principal component analysis (PCA) and rolling regressions. PCA results indicate that the first common component accounts for almost 76% of common variation in CDS premiums of emerging markets. Additionally, the explanatory power of the first factor seems to be high over sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are employed to identify the macroeconomic factors driving the heterogeneity across emerging markets. There are two main macroeconomic variables that affect the sensitivity; government debt to GDP and international reserves to GDP. The countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.Keywords: emerging markets, principal component analysis, credit default swaps, sovereign risk
Procedia PDF Downloads 38111502 Comparison Between Tension Band Wiring Using K-Wires and Cannulated Screws in Transverse Patella Fracture Fixation
Authors: Daniel Francis, Mo Yassin
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Transverse patella fractures are routinely fixed using tension band wiring (TBW) using Kirschner wires and a wire in the shape of a figure of 8. The idea of the study was to compare the outcomes of the traditional technique against the more recently used cannulated screws and fiber tape in the shape of a figure of 8. We performed a retrospective cohort study of all the surgically fixed patella fractures from the year 2019 to 2022. The patients were divided into two groups TBW group and cannulated screws group. The primary outcome measure was the failure of fixation and the need for the removal of metalwork. Twenty-six patellar fractures were studied. TBW was used in 14 (53.8%), and cannulated screws were used for fixation in 12 (46.2%). There was one incident of metalwork failure in the TBW and one incident in the cannulated screws group. Five (35.7%) of patients in the TBW needed symptomatic metal work removed and One (8.3%) in the cannulated screw group. In both groups, the rate of fixation failure was low. Symptomatic implants, the most common complication observed, were higher in the TBW group in our practice. Although the small numbers in both groups, the hope of this study is to shine the light on the use of cannulated screws for patella fractures as it would reduce the need for a second operation and reduce the load on the already stretched services as well as improving the patient experience by not requiring further surgery. Although this is not a brand-new technique, it is not commonly used as there have not yet been any studies that demonstrate the lower rates of second surgery needed.Keywords: patella, tension band wiring, randomised, new technique
Procedia PDF Downloads 7511501 Numerical Simulation of Lightning Strike Direct Effects on Aircraft Skin Composite Laminate
Authors: Muhammad Khalil, Nader Abuelfoutouh, Gasser Abdelal, Adrian Murphy
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Nowadays, the direct effects of lightning to aircrafts are of great importance because of the massive use of composite materials. In comparison with metallic materials, composites present several weaknesses for lightning strike direct effects. Especially, their low electrical and thermal conductivities lead to severe lightning strike damage. The lightning strike direct effects are burning, heating, magnetic force, sparking and arcing. As the problem is complex, we investigated it gradually. A magnetohydrodynamics (MHD) model is developed to simulate the lightning strikes in order to estimate the damages on the composite materials. Then, a coupled thermal-electrical finite element analysis is used to study the interaction between the lightning arc and the composite laminate and to investigate the material degradation.Keywords: composite structures, lightning multiphysics, magnetohydrodynamic (MHD), coupled thermal-electrical analysis, thermal plasmas.
Procedia PDF Downloads 36911500 Peruvian Diagnostic Reference Levels for Patients Undergoing Different X-Rays Procedures
Authors: Andres Portocarrero Bonifaz, Caterina Sandra Camarena Rodriguez, Ricardo Palma Esparza, Nicolas Antonio Romero Carlos
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Reference levels for common X-rays procedures have been set in many protocols. In Peru, during quality control tests, the dose tolerance is set by these international recommendations. Nevertheless, further studies can be made to assess the national reality and relate dose levels with different parameters such as kV, mA/mAs, exposure time, type of processing (digital, digitalized or conventional), etc. In this paper three radiologic procedures were taken into account for study, general X-rays (fixed and mobile), intraoral X-rays (fixed, mobile and portable) and mammography. For this purpose, an Unfors Xi detector was used; the dose was measured at a focus - detector distance which varied depending on the procedure, and was corrected afterward to find the surface entry dose. The data used in this paper was gathered over a period of over 3 years (2015-2018). In addition, each X-ray machine was taken into consideration only once. The results hope to achieve a new standard which reflects the local practice, and address the issues of the ‘Bonn Call for Action’ in Peru. For this purpose, the 75% percentile of the dose of each radiologic procedure was calculated. In future quality control services, those machines with dose values higher than the selected threshold should be informed that they surpass the reference dose levels established in comparison other radiological centers in the country.Keywords: general X-rays, intraoral X-rays, mammography, reference dose levels
Procedia PDF Downloads 15511499 Effect of Climate Variability on Children Health Outcomes in Rural Uganda
Authors: Emily Injete Amondo, Alisher Mirzabaev, Emmanuel Rukundo
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Children in rural farming households are often vulnerable to a multitude of risks, including health risks associated with climate change and variability. Cognizant of this, this study empirically traced the relationship between climate variability and nutritional health outcomes in rural children while identifying the cause-and-effect transmission mechanisms. We combined four waves of the rich Uganda National Panel Survey (UNPS), part of the World Bank Living Standards Measurement Studies (LSMS) for the period 2009-2014, with long-term and high-frequency rainfall and temperature datasets. Self-reported drought and flood shock variables were further used in separate regressions for triangulation purposes and robustness checks. Panel fixed effects regressions were applied in the empirical analysis, accounting for a variety of causal identification issues. The results showed significant negative outcomes for children’s anthropometric measurements due to the impacts of moderate and extreme droughts, extreme wet spells, and heatwaves. On the contrary, moderate wet spells were positively linked with nutritional measures. Agricultural production and child diarrhea were the main transmission channels, with heatwaves, droughts, and high rainfall variability negatively affecting crop output. The probability of diarrhea was positively related to increases in temperature and dry spells. Results further revealed that children in households who engaged in ex-ante or anticipatory risk-reducing strategies such as savings had better health outcomes as opposed to those engaged in ex-post coping such as involuntary change of diet. These results highlight the importance of adaptation in smoothing the harmful effects of climate variability on the health of rural households and children in Uganda.Keywords: extreme weather events, undernutrition, diarrhea, agricultural production, gridded weather data
Procedia PDF Downloads 10211498 Farmers' Perception of the Effects of Climate Change on Rice Production in Nasarawa State, Nigeria
Authors: P. O. Fatoki, R. S. Olaleye, B. O. Adeniji
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The study investigated farmers’ perception of the effects of climate change on rice production in Nasarawa State, Nigeria. Multi-stage sampling technique was used in selecting a total of 248 rice farmers from the study area. Data for the study were collected through the use of interview schedule. The data were analysed using both descriptive and inferential statistics. Results showed that majority (71.8%) of the respondents were married and the mean age of the respondents was 44.54 years. The results also showed that most adapted strategies for mitigating the effects of climate change on rice production were change of planting and harvesting date (67.7%), movement to another site (63.7%) and increased or reduced land size (58.5%). Relationship between the roles of extension agents in mitigating climate change effects on rice production and farmers’ perception were significant as revealed Chi-Square analysis from the study ; Dissemination of information ( = 2.16, P < 0.05) and use of demonstration methods ( = 2.15, P < 0.05). Poisson regression analysis revealed that educational status, farm size, experience and yield had significant relationship with the perception of the effects of climate change at 0.01 significance level while household size was as well significant at 0.05. It is recommended that some of the adaptive strategies and practices for mitigating the effects of climate change in rice production should be improved, while the extension outfits should be strengthened to ensure adequate dissemination of relevant information on climate change with a view to mitigate its effects on rice production.Keywords: perception, rice farmers, climate change, mitigation, adaptive strategies
Procedia PDF Downloads 35711497 Daily Variations of Polycyclic Aromatic Hydrocarbons (PAHs) in Industrial Sites in an Suburban Area of Sour El Ghozlane, Algeria
Authors: Sidali Khedidji, Noureddine Yassaa, Riad Ladji
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In this study, n-alkanes which are hazardous for the environment and human health were investigated in Sour El Ghozlane suburban atmosphere at a sampling point from April 2013 to Mai 2013. Ambient concentration measurements of n-Alkanes were carried out at a regional study of the cement industry in Sour El Ghozlane. During sampling, the airborne particulate matter was enriched onto PTFE filters by using a two medium volume samplers with or without a size-selective inlet for PM10 and TSP were used and each sampling period lasted approximately 24 h. The organic compounds were characterized using gas chromatography coupled with mass spectrometric detection (GC-MS). Total concentrations for n-Alkanes recorded in Sour El Ghozlane suburban ranged from 42 to 69 ng m-3. Gravimeter method was applied to the black smoke concentration data for Springer seasons. The 24 h average concentrations of n-alkanes contain the PM10 and TSP of Sour El Ghozlane suburban atmosphere were found in the range 0.50–7.06 ng/m3 and 0.29–6.97 ng/m3, respectively, in the sampling period. Meteorological factors, such as (relative humidity and temperature) were typically found to be affecting PMs, especially PM10. Air temperature did not seem to be significantly affecting TSP and PM10 mass concentrations. The guide value fixed by the European Community, 40 μg/m3 was not to exceed 35 days, was exceeded in some samples. However, it should be noted that the value limit fixed by the Algerian regulations 80 μg/m3 has been exceeded in 1 sampler during the period study.Keywords: n-alkanes, PM10, TSP, particulate matter, cement industry
Procedia PDF Downloads 39311496 The Analysis of the Effect of Brand Image on Creating Brand Loyalty with the Structural Equation Model: A Research Study on the Sports Equipment Brand Users
Authors: Murat Erdoğdu, Murat Koçyiğit
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Brand image and brand loyalty are among the most important relational marketing elements for brand owners to be able to set up long – term relationships with their customers and to maintain these relationships. Brand owners improve their brand images with the positive perceptions remaining in the consumers’ minds. In addition, they try to find the customers that are both emotionally and behaviourally faithful to themselves in order to set up long – term relationships. Therefore, the aim of this study is to analyse the effects of the brand image that has a very important role among relational marketing elements on the brand loyalty in terms of the variables such as the perceived value, the trust in brand and the brand satisfaction. In this context, a conceptual model was created to determine the effect of the brand image on the brand loyalty thanks to the Structural Equation Model (SEM). According to this aim and this model, the study was carried out in the scope of the data collected through the questionnaires in Konya with the method of convenience sampling. The results of the research showed that the brand image has positive significant effects on the perceived value and the trust in brand and that the trust in brand has positive significant effects on the brand satisfaction, and that the brand satisfaction has positive significant effects on the brand loyalty. Thus, the hypotheses that the brand image has direct effects on the perceived value and the trust in brand and that the trust in brand has direct effects on the brand satisfaction and that the brand satisfaction has direct effects on the brand loyalty were supported. In addition, the findings about whether the perceived value has a significant effect on the brand satisfaction were also acquired.Keywords: brand image, brand loyalty, perceived value, satisfaction, trust
Procedia PDF Downloads 44011495 Comparison of Early Post-operative Outcomes of Cardiac Surgery Patients Who Have Had Blood Transfusion Based on Fixed Cut-off Point versus of Change in Percentage of Basic Hematocrit Levels
Authors: Khosro Barkhordari, Fateme Sadr, Mina Pashang
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Back ground: Blood transfusion is one of the major issues in cardiac surgery patients. Transfusing patients based on fixed cut-off points of hemoglobin is the current protocol in most institutions. The hemoglobin level of 7- 10 has been suggested for blood transfusion in cardiac surgery patients. We aimed to evaluate if blood transfusion based on change in percentage of hematocrit has different outcomes. Methods: In this retrospective cohort study, we investigated the early postoperative outcome of cardiac surgery patients who received blood transfusions at Tehran Heart Center Hospital, IRAN. We reviewed and analyzed the basic characteristics and clinical data of 700 patients who met our exclusion and inclusion criteria. The two groups of blood transfused patients were compared, those who have 30-50 percent decrease in basal hematocrit versus those with 10 -29 percent decrease. Results: This is ongoing study, and the results would be completed in two weeks after analysis of the date. Conclusion: Early analysis has shown no difference in early post-operative outcomes between the two groups, but final analysis will be completed in two weeks. 1-Department of Anesthesiology and Critical Care, Tehran Heart Center, Tehran University of Medical Sciences, Tehran, IRAN 2- Department of Research, Tehran Heart Center, Tehran, IRAN Quantitative variables were compared using the Student t-test or the Mann‐Whitney U test, as appropriate, while categorical variables were compared using the χ2 or the Fisher exact test, as required. Our intention was to compare the early postoperative outcomes between the two groups, which include 30 days mortality, Length of ICU stay, Length of hospital stay, Intubation time, Infection rate, acute kidney injury, and respiratory complications. The main goal was to find if transfusing blood based on changes in hematocrit from a basal level was better than to fixed cut-off point regarding early post-operative outcomes. This has not been studied enough and may need randomized control trials.Keywords: post-operative, cardiac surgery, outcomes, blood transfusion
Procedia PDF Downloads 8611494 Exploring the Impact of Asset Diversification on Financial Performance: An Explanatory Study of Ethiopian Commercial Banks
Authors: Mitku Malede Ymer
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The study was mainly intended to explore the impact of asset diversification on the financial performance of thirteen purposely selected Ethiopian commercial banks with seven consecutive years of data for the period 2011-2017, considering the availability of data. An explanatory research design has been employed to determine the impact of asset diversification on financial performance. In the meantime, a quantitative approach was used to construct the empirical model. Banks’ financial performance was measured using return on asset, and the four variables used to measure asset diversification were cash holding, fixed assets, foreign deposits, and NBE Bills, which were predictor variables. Again, the size of the bank was considered as a control variable. Then, a pooled panel regression model was employed to analyze the collected data. The result pretends that cash holding has a positive but marginally insignificant effect on financial performance, fixed assets, and foreign bank deposits have a positive and significant effect on financial performance, and NBE Bills have a negative and significant effect on banks' financial performance. Ultimately, it has been concluded that asset diversification has a significant effect on financial performance in the Ethiopian commercial banking sector. Hence, a researcher suggests that banks need to optimize their asset diversification so as to realize maximum profit and minimize the cost of funds based on the result of the study.Keywords: asset diversification, financial performance, role, commercial banks
Procedia PDF Downloads 1611493 Minimum-Fuel Optimal Trajectory for Reusable First-Stage Rocket Landing Using Particle Swarm Optimization
Authors: Kevin Spencer G. Anglim, Zhenyu Zhang, Qingbin Gao
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Reusable launch vehicles (RLVs) present a more environmentally-friendly approach to accessing space when compared to traditional launch vehicles that are discarded after each flight. This paper studies the recyclable nature of RLVs by presenting a solution method for determining minimum-fuel optimal trajectories using principles from optimal control theory and particle swarm optimization (PSO). This problem is formulated as a minimum-landing error powered descent problem where it is desired to move the RLV from a fixed set of initial conditions to three different sets of terminal conditions. However, unlike other powered descent studies, this paper considers the highly nonlinear effects caused by atmospheric drag, which are often ignored for studies on the Moon or on Mars. Rather than optimizing the controls directly, the throttle control is assumed to be bang-off-bang with a predetermined thrust direction for each phase of flight. The PSO method is verified in a one-dimensional comparison study, and it is then applied to the two-dimensional cases, the results of which are illustrated.Keywords: minimum-fuel optimal trajectory, particle swarm optimization, reusable rocket, SpaceX
Procedia PDF Downloads 27711492 Investigating Anti-Tumourigenic and Anti-Angiogenic Effects of Resveratrol in Breast Carcinogenesis Using in-Silico Algorithms
Authors: Asma Zaib, Saeed Khan, Ayaz Ahmed Noonari, Sehrish Bint-e-Mohsin
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Breast cancer is the most common cancer among females worldwide and is estimated that more than 450,000 deaths are reported each year. It accounts for about 14% of all female cancer deaths. Angiogenesis plays an essential role in Breast cancer development, invasion, and metastasis. Breast cancer predominantly begins in luminal epithelial cells lining the normal breast ducts. Breast carcinoma likely requires coordinated efforts of both increased proliferation and increased motility to progress to metastatic stages.Resveratrol: a natural stilbenoid, has anti-inflammatory and anticancer effects that inhibits proliferation of variety of human cancer cell lines, including breast, prostate, stomach, colon, pancreatic, and thyroid cancers.The objective of this study is:To investigate anti-neoangiogenesis effects of Resveratrol in breast cancer and to analyze inhibitory effects of resveratrol on aromatase, Erα, HER2/neu, and VEGFR.Docking is the computational determination of binding affinity between molecule (protein structure and ligand).We performed molecular docking using Swiss-Dock and to determine docking effects of (1) Resveratrol with Aromatase, (2) Resveratrol with ERα (3) Resveratrol with HER2/neu and (4) Resveratrol with VEGFR2.Docking results of resveratrol determined inhibitory effects on aromatase with binding energy of -7.28 kcal/mol which shows anticancerous effects on estrogen dependent breast tumors. Resveratrol also show inhibitory effects on ERα and HER2/new with binging energy -8.02, and -6.74 respectively; which revealed anti-cytoproliferative effects upon breast cancer. On the other hand resveratrol v/s VEGFR showed potential inhibitory effects on neo-angiogenesis with binding energy -7.68 kcal/mol, angiogenesis is the important phenomenon that promote tumor development and metastasis. Resveratrol is an anti-breast cancer agent conformed by in silico studies, it has been identified that resveratrol can inhibit breast cancer cells proliferation by acting as competitive inhibitor of aromatase, ERα and HER2 neo, while neo-angiogemesis is restricted by binding to VEGFR which authenticates the anti-carcinogenic effects of resveratrol against breast cancer.Keywords: angiogenesis, anti-cytoproliferative, molecular docking, resveratrol
Procedia PDF Downloads 32611491 Effects of Partial Sleep Deprivation on Prefrontal Cognitive Functions in Adolescents
Authors: Nurcihan Kiris
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Restricted sleep is common in young adults and adolescents. The results of a few objective studies of sleep deprivation on cognitive performance were not clarified. In particular, the effect of sleep deprivation on the cognitive functions associated with frontal lobe such as attention, executive functions, working memory is not well known. The aim of this study is to investigate the effect of partial sleep deprivation experimentally in adolescents on the cognitive tasks of frontal lobe including working memory, strategic thinking, simple attention, continuous attention, executive functions, and cognitive flexibility. Subjects of the study were recruited from voluntary students of Cukurova University. Eighteen adolescents underwent four consecutive nights of monitored sleep restriction (6–6.5 hr/night) and four nights of sleep extension (10–10.5 hr/night), in counterbalanced order, and separated by a washout period. Following each sleep period, cognitive performance was assessed, at a fixed morning time, using a computerized neuropsychological battery based on frontal lobe functions task, a timed test providing both accuracy and reaction time outcome measures. Only the spatial working memory performance of cognitive tasks was found to be statistically lower in a restricted sleep condition than the extended sleep condition. On the other hand, there was no significant difference in the performance of cognitive tasks evaluating simple attention, constant attention, executive functions, and cognitive flexibility. It is thought that especially the spatial working memory and strategic thinking skills of adolescents may be susceptible to sleep deprivation. On the other hand, adolescents are predicted to be optimally successful in ideal sleep conditions, especially in the circumstances requiring for the short term storage of visual information, processing of stored information, and strategic thinking. The findings of this study may also be associated with possible negative functional effects on the processing of academic social and emotional inputs in adolescents for partial sleep deprivation. Acknowledgment: This research was supported by Cukurova University Scientific Research Projects Unit.Keywords: attention, cognitive functions, sleep deprivation, working memory
Procedia PDF Downloads 15611490 Effects of Arcing in Air on the Microstructure, Morphology and Photoelectric Work Function of Ag-Ni (60/40) Contact Materials
Authors: Mohamed Akbi, Aissa Bouchou
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The present work aims to throw light on the effects of arcing in air on the surface state of contact pastilles made of silver-nickel Ag-Ni (60/40). Also, the photoelectric emission from these electrical contacts has been investigated in the spectral range of 196-256 nm. In order to study the effects of arcing on the EWF, the metallic samples were subjected to electrical arcs in air, at atmospheric pressure and room temperature, after that, they have been introduced into the vacuum chamber of an experimental UHV set-up for EWF measurements. Both Fowler method of isothermal curves and linearized Fowler plots were used for the measurement of the EWF by the photoelectric effect. It has been found that the EWF varies with the number of applied arcs. Thus, after 500 arcs in air, the observed EWF increasing is probably due to progressive inclusion of oxide on alloy surface. Microscopic examination is necessary to get better understandings on EWF of silver alloys, for both virgin and arced electrical contacts.Keywords: Ag-Ni contact materials, arcing effects, electron work function, Fowler methods, photoemission
Procedia PDF Downloads 38511489 Effects of Viscous and Pressure Forces in Vortex and Wake Induced Vibrations
Authors: Ravi Chaithanya Mysa, Abouzar Kaboudian, Boo Cheong Khoo, Rajeev Kumar Jaiman
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Cross-flow vortex-induced vibrations of a circular cylinder are compared with the wake-induced oscillations of the downstream cylinder of a tandem cylinder arrangement. It is known that the synchronization of the frequency of vortex shedding with the natural frequency of the structure leads to large amplitude motions. In the case of tandem cylinders, the large amplitudes of the downstream cylinder found are compared to single cylinder setup. In this work, in the tandem arrangement, the upstream cylinder is fixed and the downstream cylinder is free to oscillate in transverse direction. We show that the wake from the upstream cylinder interacts with the downstream cylinder which influences the response of the coupled system. Extensive numerical experiments have been performed on single cylinder as well as tandem cylinder arrangements in cross-flow. Here, the wake interactions in connection to the forces generated are systematically studied. The ratio of the viscous loads to the pressure loads is found to play a major role in the displacement response of the single and tandem cylinder arrangements, as the viscous forces dissipate the energy.Keywords: circular cylinder, vortex-shedding, VIV, wake-induced, vibrations
Procedia PDF Downloads 36611488 Daily Variations of Particulate Matter (PM10) in Industrial Sites in an Suburban Area of Sour El Ghozlane, Algeria
Authors: Sidali Khedidji, Riad Ladji, Noureddine Yassaa
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In this study, particulate matter (PM10) which are hazardous for environment and human health were investigated in Sour El Ghozlane suburban atmosphere at a sampling point from March 2013 to April 2013. Ambient concentration measurements of polycyclic aromatic hydrocarbons were carried out at a regional study of the cement industry in Sour El Ghozlane. During sampling, the airborne particulate matter was enriched onto PTFE filters by using a two medium volume samplers with or without a size-selective inlet for PM10 and TSP were used and each sampling period lasted approximately 24 h. The organic compounds were characterized using gas chromatography coupled with mass spectrometric detection (GC-MSD). Total concentrations for PAHs recorded in sour el ghozlane suburban ranged from 101 to 204 ng m-3. Gravimeter method was applied to the black smoke concentration data for Springer seasons. The 24 h average concentrations of PM10 and TSP of Sour El Ghozlane suburban atmosphere were found in the range 4.76–165.76 μg/m3 and 28.63–800.14 μg/m3, respectively, in the sampling period. Meteorological factors, such as (relative humidity and temperature) were typically found to be affecting PMs, especially PM10. Air temperature did not seem to be significantly affecting TSP and PM10 mass concentrations.The guide value fixed by the European Community «40 μg/m3» not to exceed 35 days, were exceeded in some samples. However, it should be noted that the value limit fixed by the Algerian regulations «80 μg/m3» has been exceeded in 3 samplers during the period study.Keywords: PAHs, PM10, TSP, particulate matter, cement industry
Procedia PDF Downloads 37811487 Psychological Effects of Economic Recession on Educated Youth: Evidences from Pakistan
Authors: Mubashra Khalid, Saadia Amir
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This study initiated to explore the empirical relationship between psychological effects of economic recession on the educated youth in Pakistan. The diminishing economic resources during recession can create certain psychological consequences on the physical and cognitive aspects of the individuals. It may generate symptoms like aggression, depression, anxiety, frustration, stress and physical health related problems among the young generation. The sample of the study was consisted of 300 students belonging to six public sector universities of the Punjab province of Pakistan. Two hypotheses were advanced in this study regarding the relationship between recession and its effects on educated youth. The findings of the research represent that a significant relationship exists between decrease in employment opportunities and growing rate of aggression among educated youth and a significant association was found between economic instability and its influence on the learning abilities of the students during recession.Keywords: psychological effects, recession, educated youth
Procedia PDF Downloads 50811486 Critical Literature Survey of the Macroeconomic Effects of Fiscal Policy in Light of Recent Empirical Evidence
Authors: Walaa W. Diab
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The present paper offers a fundamental critique of the macroeconomic effects of fiscal policy after it surveys the theoretical and empirical literature on the macroeconomic effects of fiscal policy. It emphasizes the importance of the fiscal policy after reviewing the revolution of almost all economic schools and bringing them in one summarized figure; the paper links the developmental role of the fiscal policy with the objectives and measures of the economic transformation. Thus, the importance of this study can be seen from several perspectives: First, it reviews the theoretical harvest of fiscal policy and provides a comparison between the main revolutionary Economic thoughts; the classical school, Keynesian school, and monetarist school. Then it turns to conclude the fiscal policy from the new consensus mainstream economic schools. Finally, the study presents grouped and classified empirical pieces of evidence as it divides those empirical studies into two groups; the first for developed economies and the second for developing ones. So the study is important also for the policymakers as well as scholars as it gives its recommendations upon the last analysis in the form of ‘policy implications’. The paper also presents a deeper look into the evaluation approaches of the macroeconomic effects of fiscal policy at the empirical level. Thus it is useful for both researchers and decision makers.Keywords: economic transformation, fiscal policy, macroeconomic effects, public spending
Procedia PDF Downloads 30311485 Controlling Cocoa Pod Borer, Conopomorpha cramerella (Snell.) and Cost Analysis Production at Cacao Plantation
Authors: Alam Anshary, Flora Pasaru, Shahabuddin
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The Cocoa Pod Borer (CPB), Conopomorpha cramerella (Snell.) is present on most of the larger cocoa producing islands in Indonesia. Various control measures CPB has been carried out by the farmers, but the results have not been effective. This study aims to determine the effect of application of Beauveria bassiana treatments and pruning technique to the control of CPB in the cocoa plantation people. Research using completely randomized design with 4 treatments and 3 replications, treatment consists of B.bassiana, Pruning, B. bassiana+pruning (Bb + Pr), as well as the control. The results showed that the percentage of PBK attack on cocoa pods in treatment (Bb + Pr) 3.50% the lowest compared to other treatments. CPB attack percentage in treatment B.bassiana 6.15%; pruning 8.75%, and 15.20% control. Results of the analysis of production estimates, the known treatments (Bb + Pr) have the highest production (1.95 tonnes / ha). The model results estimated production is Y= 0,20999 + 0,53968X1 + 0,34298X2+ 0,31410X3 + 0,35629X4 + 0,08345X5 + 0,29732X6. Farm production costs consist of fixed costs and variable costs, fixed costs are costs incurred by the farmer that the size does not affect the results, such as taxes and depreciation of production equipment. Variable costs are costs incurred by farmers who used up in one year cocoa farming activities. The cost of production in farming cocoa without integrated techniques control of CPB is Rp. 9.205.550 million/ha, while the cost of production with integrated techniques control is Rp. 6.666.050 million/ha.Keywords: cacao, cocoa pod borer, pruning, Beauveria bassiana, production costs
Procedia PDF Downloads 28511484 The Response of the Central Bank to the Exchange Rate Movement: A Dynamic Stochastic General Equilibrium-Vector Autoregressive Approach for Tunisian Economy
Authors: Abdelli Soulaima, Belhadj Besma
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The paper examines the choice of the central bank toward the movements of the nominal exchange rate and evaluates its effects on the volatility of the output growth and the inflation. The novel hybrid method of the dynamic stochastic general equilibrium called the DSGE-VAR is proposed for analyzing this policy experiment in a small scale open economy in particular Tunisia. The contribution is provided to the empirical literature as we apply the Tunisian data with this model, which is rarely used in this context. Note additionally that the issue of treating the degree of response of the central bank to the exchange rate in Tunisia is special. To ameliorate the estimation, the Bayesian technique is carried out for the sample 1980:q1 to 2011 q4. Our results reveal that the central bank should not react or softly react to the exchange rate. The variance decomposition displayed that the overall inflation volatility is more pronounced with the fixed exchange rate regime for most of the shocks except for the productivity and the interest rate. The output volatility is also higher with this regime with the majority of the shocks exempting the foreign interest rate and the interest rate shocks.Keywords: DSGE-VAR modeling, exchange rate, monetary policy, Bayesian estimation
Procedia PDF Downloads 29711483 Tenants Use Less Input on Rented Plots: Evidence from Northern Ethiopia
Authors: Desta Brhanu Gebrehiwot
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The study aims to investigate the impact of land tenure arrangements on fertilizer use per hectare in Northern Ethiopia. Household and Plot level data are used for analysis. Land tenure contracts such as sharecropping and fixed rent arrangements have endogeneity. Different unobservable characteristics may affect renting-out decisions. Thus, the appropriate method of analysis was the instrumental variable estimation technic. Therefore, the family of instrumental variable estimation methods two-stage least-squares regression (2SLS, the generalized method of moments (GMM), Limited information maximum likelihood (LIML), and instrumental variable Tobit (IV-Tobit) was used. Besides, a method to handle a binary endogenous variable is applied, which uses a two-step estimation. In the first step probit model includes instruments, and in the second step, maximum likelihood estimation (MLE) (“etregress” command in Stata 14) was used. There was lower fertilizer use per hectare on sharecropped and fixed rented plots relative to owner-operated. The result supports the Marshallian inefficiency principle in sharecropping. The difference in fertilizer use per hectare could be explained by a lack of incentivized detailed contract forms, such as giving more proportion of the output to the tenant under sharecropping contracts, which motivates to use of more fertilizer in rented plots to maximize the production because most sharecropping arrangements share output equally between tenants and landlords.Keywords: tenure-contracts, endogeneity, plot-level data, Ethiopia, fertilizer
Procedia PDF Downloads 8611482 A Method for Evaluating the Mechanical Stress on Mandibular Advancement Devices
Authors: Tsung-yin Lin, Yi-yu Lee, Ching-hua Hung
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Snoring, the lay term for obstructive breathing during sleep, is one of the most prevalent of obnoxious human habits. Loud snoring usually makes others feel noisy and uncomfortable. Snoring also influences the sleep quality of snorers’ bed partners, because of the noise they do not get to sleep easily. Snoring causes the reduce of sleep quality leading to several medical problems, such as excessive daytime sleepiness, high blood pressure, increased risk for cardiovascular disease and cerebral vascular accident, and etc. There are many non-prescription devices offered for sale on the market, but very limited data are available to support a beneficial effect of these devices on snoring and use in treating obstructive sleep apnea (OSA). Mandibular advancement devices (MADs), also termed as the Mandibular reposition devices (MRDs) are removable devices which are worn at night during sleep. Most devices require dental impression, bite registration, and fabrication by a dental laboratory. Those devices are fixed to upper and lower teeth and are adjusted to advance the mandible. The amount of protrusion is adjusted to meet the therapeutic requirements, comfort, and tolerance. Many devices have a fixed degree of advancement. Some are adjustable in a limited degree. This study focuses on the stress analysis of Mandibular Advancement Devices (MADs), which are considered as a standard treatment of snoring that promoted by American Academy of Sleep Medicine (AASM). This paper proposes a new MAD design, and the finite element analysis (FEA) is introduced to precede the stress simulation for this MAD.Keywords: finite element analysis, mandibular advancement devices, mechanical stress, snoring
Procedia PDF Downloads 35611481 The Investigate Relationship between Moral Hazard and Corporate Governance with Earning Forecast Quality in the Tehran Stock Exchange
Authors: Fatemeh Rouhi, Hadi Nassiri
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Earning forecast is a key element in economic decisions but there are some situations, such as conflicts of interest in financial reporting, complexity and lack of direct access to information has led to the phenomenon of information asymmetry among individuals within the organization and external investors and creditors that appear. The adverse selection and moral hazard in the investor's decision and allows direct assessment of the difficulties associated with data by users makes. In this regard, the role of trustees in corporate governance disclosure is crystallized that includes controls and procedures to ensure the lack of movement in the interests of the company's management and move in the direction of maximizing shareholder and company value. Therefore, the earning forecast of companies in the capital market and the need to identify factors influencing this study was an attempt to make relationship between moral hazard and corporate governance with earning forecast quality companies operating in the capital market and its impact on Earnings Forecasts quality by the company to be established. Getting inspiring from the theoretical basis of research, two main hypotheses and sub-hypotheses are presented in this study, which have been examined on the basis of available models, and with the use of Panel-Data method, and at the end, the conclusion has been made at the assurance level of 95% according to the meaningfulness of the model and each independent variable. In examining the models, firstly, Chow Test was used to specify either Panel Data method should be used or Pooled method. Following that Housman Test was applied to make use of Random Effects or Fixed Effects. Findings of the study show because most of the variables are positively associated with moral hazard with earnings forecasts quality, with increasing moral hazard, earning forecast quality companies listed on the Tehran Stock Exchange is increasing. Among the variables related to corporate governance, board independence variables have a significant relationship with earnings forecast accuracy and earnings forecast bias but the relationship between board size and earnings forecast quality is not statistically significant.Keywords: corporate governance, earning forecast quality, moral hazard, financial sciences
Procedia PDF Downloads 32211480 Longitudinal Assessment on the Economic Impacts of Hosting Major Sports Events
Authors: Huei-Fu Lu
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Hosting international major sports events (MSEs) has become a globalized strategy for many countries. Most modern countries believe that MSEs can bring the hosting countries with substantial and considerable economic and non-economic benefits; so many cities also input a huge of resources to bid for hosting MSEs. Despite the growing importance of MSEs, limited longitudinal analysis has been carried out to understand and explain the long term economic effects of such events. This paper is to continue the focus of previous literature on the economic effects of hosting MSEs. The study periods are from 1950 to 2014 and the secondary macro-economic data are selected from the countries that have hosted the Asian Games and the Olympic Games (including summer and winter) to precede a longitudinal analysis. A comparison of the real economic growth rate, investment, employment and international trade of hosting countries and the duration of these economic effects are also explored and discussed. Based on the countries’ attributes and locating area, aiming to ascertain whether hosting MSEs is economically worthwhile and whether the economic effects from MSEs are realized as anticipated. The results indicate that hosting MSEs to create positive economic effects like GDP growth or long-term employment may be a myth even for developing countries. However, the empirical findings can provide the sport management or authority with longitudinal and comprehensive elaboration for biding or hosting MSEs in the future.Keywords: Asian Games, economic effects, major sports events (MSEs), olympic games
Procedia PDF Downloads 32711479 Effects of Chemicals in Elderly
Authors: Ali Kuzu
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There are about 800 thousand chemicals in our environment and the number is increasing more than a thousand every year. While most of these chemicals are used as components in various consumer products, some are faced as industrial waste in the environment. Unfortunately, many of these chemicals are hazardous and affect humans. According to the “International Program on Chemical Safety” of World Health Organization; Among the chronic health effects of chemicals, cancer is of major concern. Many substances have found in recent years to be carcinogenic in one or more species of laboratory animals. Especially with respect to long-term effects, the response to a chemical may vary, quantitatively or qualitatively, in different groups of individuals depending on predisposing conditions, such as nutritional status, disease status, current infection, climatic extremes, and genetic features, sex and age of the individuals. Understanding the response of such specific risk groups is an important area of toxicology research. People with age 65+ is defined as “aged (or elderly)”. The elderly population in the world is about 600 million, which corresponds to ~8 percent of the world population. While every 1 of each 4 people is aged in Japan, the elderly population is quite close to 20 percent in many developed countries. And elderly population in these countries is growing more rapidly than the total population. The negative effects of chemicals on elderly take an important place in health-care related issues in last decades. The aged population is more susceptible to the harmful effects of environmental chemicals. According to the poor health of the organ systems in elderly, the ability of their body to eliminate the harmful effects and chemical substances from their body is also poor. With the increasing life expectancy, more and more people will face problems associated with chemical residues.Keywords: elderly, chemicals’ effects, aged care, care need
Procedia PDF Downloads 45511478 Class Size Effects on Reading Achievement in Europe: Evidence from Progress in International Reading Literacy Study
Authors: Ting Shen, Spyros Konstantopoulos
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During the past three decades, class size effects have been a focal debate in education. The idea of having smaller class is enormously popular among parents, teachers and policy makers. The rationale of its popularity is that small classroom could provide a better learning environment in which there would be more teacher-pupil interaction and more individualized instruction. This early stage benefits would also have a long-term positive effect. It is a common belief that reducing class size may result in increases in student achievement. However, the empirical evidence about class-size effects from experimental or quasi-experimental studies has been mixed overall. This study sheds more light on whether class size reduction impacts reading achievement in eight European countries: Bulgaria, Germany, Hungary, Italy, Lithuania, Romania, Slovakia, and Slovenia. We examine class size effects on reading achievement using national probability samples of fourth graders. All eight European countries had participated in the Progress in International Reading Literacy Study (PIRLS) in 2001, 2006 and 2011. Methodologically, the quasi-experimental method of instrumental variables (IV) has been utilized to facilitate causal inference of class size effects. Overall, the results indicate that class size effects on reading achievement are not significant across countries and years. However, class size effects are evident in Romania where reducing class size increases reading achievement. In contrast, in Germany, increasing class size seems to increase reading achievement. In future work, it would be valuable to evaluate differential class size effects for minority or economically disadvantaged student groups or low- and high-achievers. Replication studies with different samples and in various settings would also be informative. Future research should continue examining class size effects in different age groups and countries using rich international databases.Keywords: class size, reading achievement, instrumental variables, PIRLS
Procedia PDF Downloads 29111477 Effect of Wavy Leading-Edges on Wings in Different Planetary Atmospheres
Authors: Vatasta Koul, Ayush Gupta, Vaibhav Sharma, Rajesh Yadav
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Today we are unmarking the secrets of the universe by exploring different stars and planets and most of the space exploration is done by unmanned space robots. In addition to our planet Earth, there are pieces of evidence that show other astronomical objects in our solar system such as Venus, Mars, Saturn’s moon Titan and Uranus support the flight of fixed wing air vehicles. In this paper, we take forward the concept of presence of large rounded tubercles along the leading edge of a wing and use it as a passive flow control device that will help in improving its aerodynamic performance and maneuverability. Furthermore, in this research, aerodynamic measurements and performance analysis of wavy leading tubercles on the fixed wings at 5-degree angle of attack are carried out after determination of the flow conditions on the selected planetary bodies. Wavelength and amplitude for the sinusoidal modifications on the leading edge are analyzed and simulations are carried out for three-dimensional NACA 0012 airfoil maintaining unity AR (Aspect Ratio). Tubercles have consistently demonstrated the ability to delay and decrease the severity of stall as per the studies were done in the Earth’s atmosphere. Implementing the same design on the leading edges of Micro-Air Vehicles (MAVs) and UAVs could make these aircrafts more stable over a greater range of angles of attack in different planetary environments of our solar system.Keywords: amplitude, NACA0012, tubercles, unmanned space robots
Procedia PDF Downloads 14611476 Effects of Artificial Sweeteners on the Quality Parameters of Yogurt during Storage
Authors: Hafiz Arbab Sakandar, Sabahat Yaqub, Ayesha Sameen, Muhammad Imran, Sarfraz Ahmad
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Yoghurt is one of the famous nutritious fermented milk products which have myriad of positive health effects on human beings and curable against different intestinal diseases. This research was conducted to observe effects of different artificial sweeteners on the quality parameters of yoghurt with relation to storage. Some people are allergic to natural sweeteners so artificial sweetener will be helpful for them. Physical-chemical, Microbiology and various sensory evaluation tests were carried out with the interval of 7, 14, 21, and 28 days. It was outcome from this study that addition of artificial sweeteners in yoghurt has shown much harmful effects on the yoghurt microorganisms and other physicochemical parameters from quality point of view. Best results for acceptance were obtained when aspartame was added in yoghurt at level of 0.022 percent. In addition, growth of beneficial microorganisms in yoghurt was also improved as well as other sensory attributes were enhanced by the addition of aspartame.Keywords: yoghurt, artificial sweetener, storage, quality parameters
Procedia PDF Downloads 47611475 Modeling and Minimizing the Effects of Ferroresonance for Medium Voltage Transformers
Authors: Mohammad Hossein Mohammadi Sanjani, Ashknaz Oraee, Arian Amirnia, Atena Taheri, Mohammadreza Arabi, Mahmud Fotuhi-Firuzabad
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Ferroresonance effects cause overvoltage in medium voltage transformers and isolators used in electrical networks. Ferroresonance effects are nonlinear and occur between the network capacitor and the nonlinear inductance of the voltage transformer during saturation. This phenomenon is unwanted for transformers since it causes overheating, introduction of high dynamic forces in primary coils, and rise of voltage in primary coils for the voltage transformer. Furthermore, it results in electrical and thermal failure of the transformer. Expansion of distribution lines, design of the transformer in smaller sizes, and the increase of harmonics in distribution networks result in an increase of ferroresonance. There is limited literature available to improve the effects of ferroresonance; therefore, optimizing its effects for voltage transformers is of great importance. In this study, comprehensive modeling of a medium voltage block-type voltage transformer is performed. In addition, a recent model is proposed to improve the performance of voltage transformers during the occurrence of ferroresonance using damping oscillations. Also, transformer design optimization is presented in this study to show further improvements in the performance of the voltage transformer. The recently proposed model is experimentally tested and verified on a medium voltage transformer in the laboratory, and simulation results show a large reduction of the effects of ferroresonance.Keywords: optimization, voltage transformer, ferroresonance, modeling, damper
Procedia PDF Downloads 10111474 Interaction Effects of Dietary Ginger, Zingiber Officinale, on Plasma Protein Fractions in Rainbow Trout, Oncorhynchus Mykiss
Authors: Ali Taheri Mirghaed, Sara Ahani, Ashkan Zargar, Seyyed Morteza Hoseini
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Diseases are the major challenges in intensive aquaculture that cause significant annual losses. Antibiotic-therapy is a common way to control bacterial disease in fish, and oxytetracycline (OTC) is the only oral antibiotic in aquaculture approved FDA. OTC has been found to have negative effects on fish, such as oxidative stress and immune-suppression, thus, it is necessary to mitigate such effects. Medicinal herbs have various benefits on fish, including antioxidant, immunostimulant, and anti-microbial effects. Therefore, we hypothesized if dietary ginger meal (GM) interacts with dietary OTC by monitoring plasma protein fractions in rainbow trout. The study was conducted as a 2 × 2 factorial design, including diets containing 0 and 1% GM and 0 and 1.66 % OTC (corresponding to 100 mg/kg fish biomass per day). After ten days treating the fish (60 g individual weight) with these feeds, blood samples were taken from al treatments (n =3). Plasma was separated by centrifugation, and protein fractions were determined by electrophoresis. The results showed that OTC and GM had interaction effects on total protein (P<0.001), albumin (P<0.001), alpha-1 fraction (P=0.010), alpha-2 fraction (P=0.001), beta-2 fraction (P=0.014), and gamma fraction (P<0.001). Beta-1 fraction was significantly (P=0.030) affected by dietary GM. GM decreased plasma total protein, albumin, and beta-2 but increased beta-1 fraction. OTC significantly decreased total protein (P<0.001), albumin (P=0.001), alpha-2 fraction (P<0.001), beta-2 fraction (P=0.004), and gamma fraction (P<0.001) but had no significant effects on alpha-1 and beta-1 fractions. Dietary GM inhibited/suppressed the effects of dietary OTC on the plasma total protein and protein fractions. In conclusion, adding 1% GM to diet can mitigate the negative effects of dietary OTC on plasma proteins. Thus, GM may boost health of rainbow trout during the period of medication with OTC.Keywords: ginger, plasma protein electrophoresis, dietary additive, rainbow trout
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