Search results for: cosmic inflation
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 66

Search results for: cosmic inflation

66 Kemmer Oscillator in Cosmic String Background

Authors: N. Messai, A. Boumali

Abstract:

In this work, we aim to solve the two dimensional Kemmer equation including Dirac oscillator interaction term, in the background space-time generated by a cosmic string which is submitted to an uniform magnetic field. Eigenfunctions and eigenvalues of our problem have been found and the influence of the cosmic string space-time on the energy spectrum has been analyzed.

Keywords: Kemmer oscillator, cosmic string, Dirac oscillator, eigenfunctions

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65 Transcendental Birth of the Column from the Full Jar Expressed at the Notre Dame of Paris and Saint Germain-des-Pres

Authors: Kang Woobang

Abstract:

The base of the column is not only a support but also the embodiment of profound symbolism full of cosmic energy. Finding the full jars from which various energy emanate at the Notre Dame of Paris and Saint-Germain-des-Pres in France, the author was so shocked. As the column is cosmic tree, from the Full Jar full with cosmic energy emerges the cosmic tree composed of shaft and capital.

Keywords: full picher or jar, transcendental or supernatural birth from yonggi, yonggimun, yonggissak

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64 The Relationship between the Speed of Light and Cosmic Background Potential

Authors: Youping Dai, Xinping Dai, Xiaoyun Li

Abstract:

In this paper, the effect of Cosmic Background Gravitational Potential (CBGP) was discussed. It is helpful to reveal the equivalence of gravitational and inertial mass, and to understand the origin of inertia. The derivation is similar to the classic approach adopted by Landau in the book 'Classical Theory of Fields'.The main differences are that we used CBGP = Lambda^2 instead of c^2, and used CBGP energy E = m*Lambda^2 instead of kinetic energy E = (1/2)m*v^2 as initial assumptions (where Lambda has the same units for measuring velocity). It showed that Lorentz transformation, rest energy and Newtonian mechanics are all affected by $CBGP$, and the square of the speed of light is equal to CBGP too. Finally, the top value of cosmic mass density and cosmic radius were discussed.

Keywords: the origin of inertia, Mach's principle, equivalence principle, cosmic background potential

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63 Impacts of Exchange Rate and Inflation Rate on Foreign Direct Investment in Pakistan

Authors: Saad Bin Nasir

Abstract:

The study identifies the impact of inflation and foreign exchange rate on foreign direct investment in Pakistan. Inflation and exchange rates are used as independent variables and foreign direct investment is taken as dependent variable. Discreet time series data has been used from the period of 1999 to 2009. The results of regression analysis reveal that high inflation has negative impact on foreign direct investment and higher exchange rates has positive impact on foreign direct investment in Pakistan. The inflation and foreign exchange rates both are insignificant in the analysis.

Keywords: inflation rate, foreign exchange rate, foreign direct investment, foreign assets

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62 Inflation and Unemployment in South Africa: A Review of the Relationship 2000 - 2022

Authors: Chigozie Azunna

Abstract:

Various studies have been carried out in several countries to determine the relationship between inflation and unemployment. The study was carried out to review this relationship in South Africa. Secondary data was obtained from Statistics South Africa, Reserve bank, and other reliable secondary sources to review this relationship. The study incorporated yearly inflation and unemployment data in South Africa from 2000 to 2022 to explain the relationship between inflation and unemployment in South Africa. The study found the relationship to be nonlinear and lacking any significant association or relationship. Various economic schools of thought postulations were incorporated in the review as it is applied to South Africa. Essentially, the Phillips Curve was reviewed in-line with the study objective.

Keywords: inflation and unemployment in south africa, philips curve, monetarists, neo keynesian, new-classical

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61 Cosmic Background Reduction in the Radiocarbon Measurements by Liquid Scintillation Spectrometry

Authors: Natasa Todorovic, Jovana Nikolov

Abstract:

Guard detector efficiency, cosmic background, and its variation were determinate using ultra low-level liquid scintillation spectrometer Quantulus 1220, equipped with an anti-Compton guard detector, in the surface laboratory at the University of Novi Sad, Serbia, Atmospheric pressure variation has an observable effect on the anti-Compton guard detector count rate. and the cosmic muon flux is lower during a high-pressure period. Also, the guard detector Compton continuum provides a good view of the level of gamma radiation in the laboratory environment. The efficiency of the guard detector in the channel interval from 750 to 1024 was assessed to 93.45%; efficiency in the entire window (channels 1 to 1024) was 75.23%, which is in good agreement with literature data.

Keywords: cosmic radiation, background reduction, liquid scintillation counting, guard detector efficiency

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60 Money and Inflation in Cambodia

Authors: Siphat Lim

Abstract:

The result of the study revealed that the interaction between money, exchange rate, and price level was mainly derived from the policy-induced by the central bank. Furthermore, the variation of inflation was explained weakly by exchange rate and money supply. In the period of twelfth-month, the variation of inflation which caused by exchange rate and money supply were not more than 1.78 percent and 9.77 percent, respectively.

Keywords: money supply, exchange rate, price level, VAR model

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59 Induced-Gravity Inflation in View of the Bicep2 Results

Authors: C. Pallis

Abstract:

Induced-Gravity inflation is a model of chaotic inflation where the inflaton is identified with a Higgs-like modulus whose the vacuum expectation value controls the gravitational strength. Thanks to a strong enough coupling between the inflaton and the Ricci scalar curvature, inflation is attained even for subplanckian values of the inflaton with the corresponding effective theory being valid up to the Planck scale. In its simplest realization, induced-gravity inflation is based on a quatric potential and a quadratic non-minimal coupling and the inflationary observables turn out to be in agreement with the Planck data. Its supersymmetrization can be formulated within no-scale Supergravity employing two gauge singlet chiral superfields and applying a continuous $R$ and a discrete Zn symmetry to the proposed superpotential and Kahler potential. Modifying slightly the non-minimal coupling to Gravity, the model can account for the recent results of BICEP2. These modifications can be also accommodated beyond the no-scale SUGRA considering the fourth order term of the Kahler potential which mixes the inflaton with the accompanying non-inflaton field and small deviations from the prefactor $-3$ encountered in the adopted Kahler potential.

Keywords: cosmology, supersymmetric models, supergravity, modified gravity

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58 The Relationship between Central Bank Independence and Inflation: Evidence from Africa

Authors: R. Bhattu Babajee, Marie Sandrine Estelle Benoit

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The past decades have witnessed a considerable institutional shift towards Central Bank Independence across economies of the world. The motivation behind such a change is the acceptance that increased central bank autonomy has the power of alleviating inflation bias. Hence, studying whether Central Bank Independence acts as a significant factor behind the price stability in the African economies or whether this macroeconomic aim in these countries result from other economic, political or social factors is a pertinent issue. The main research objective of this paper is to assess the relationship between central bank autonomy and inflation in African economies where inflation has proved to be a serious problem. In this optic, we shall measure the degree of CBI in Africa by computing the turnover rates of central banks governors thereby studying whether decisions made by African central banks are affected by external forces. The purpose of this study is to investigate empirically the association between Central Bank Independence (CBI) and inflation for 10 African economies over a period of 17 years, from 1995 to 2012. The sample includes Botswana, Egypt, Ghana, Kenya, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, and Uganda. In contrast to empirical research, we have not been using the usual static panel model for it is associated with potential mis specification arising from the absence of dynamics. To this issue a dynamic panel data model which integrates several control variables has been used. Firstly, the analysis includes dynamic terms to explain the tenacity of inflation. Given the confirmation of inflation inertia, that is very likely in African countries there exists the need for including lagged inflation in the empirical model. Secondly, due to known reverse causality between Central Bank Independence and inflation, the system generalized method of moments (GMM) is employed. With GMM estimators, the presence of unknown forms of heteroskedasticity is admissible as well as auto correlation in the error term. Thirdly, control variables have been used to enhance the efficiency of the model. The main finding of this paper is that central bank independence is negatively associated with inflation even after including control variables.

Keywords: central bank independence, inflation, macroeconomic variables, price stability

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57 The Galactic Magnetic Field in the Light of Starburst-Generated Ultrahigh-Energy Cosmic Rays

Authors: Luis A. Anchordoqui, Jorge F. Soriano, Diego F. Torres

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Auger data show evidence for a correlation between ultrahigh-energy cosmic rays (UHECRs) and nearby starburst galaxies. This intriguing correlation is consistent with data collected by the Telescope Array, which have revealed a much more pronounced directional 'hot spot' in arrival directions not far from the starburst galaxy M82. In this work, we assume starbursts are sources of UHECRs, and we investigate the prospects to use the observed distribution of UHECR arrival directions to constrain galactic magnetic field models. We show that if the Telescope Array hot spot indeed originates on M82, UHECR data would place a strong constraint on the turbulent component of the galactic magnetic field.

Keywords: galactic magnetic field, Pierre Auger observatory, telescope array, ultra-high energy cosmic rays

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56 Inflation and Unemployment Rates as Indicators of the Transition European Union Countries Monetary Policy Orientation

Authors: Elza Jurun, Damir Piplica, Tea Poklepović

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Numerous studies carried out in the developed western democratic countries have shown that the ideological framework of the governing party has a significant influence on the monetary policy. The executive authority consisting of a left-wing party gives a higher weight to unemployment suppression and central bank implements a more expansionary monetary policy. On the other hand, right-wing governing party considers the monetary stability to be more important than unemployment suppression and in such a political framework the main macroeconomic objective becomes the inflation rate reduction. The political framework conditions in the transition countries which are new European Union (EU) members are still highly specific in relation to the other EU member countries. In the focus of this paper is the question whether the same monetary policy principles are valid in these transitional countries as well as they apply in developed western democratic EU member countries. The data base consists of inflation rate and unemployment rate for 11 transitional EU member countries covering the period from 2001 to 2012. The essential information for each of these 11 countries and for each year of the observed period is right or left political orientation of the ruling party. In this paper we use t-statistics to test our hypothesis that there are differences in inflation and unemployment between right and left political orientation of the governing party. To explore the influence of different countries, through years and different political orientations descriptive statistics is used. Inflation and unemployment should be strongly negatively correlated through time, which is tested using Pearson correlation coefficient. Regarding the fact whether the governing authority is consisted from left or right politically oriented parties, monetary authorities will adjust its policy setting the higher priority on lower inflation or unemployment reduction.

Keywords: inflation rate, monetary policy orientation, transition EU countries, unemployment rate

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55 Economic Meltdown and Inflation and Its Effect on Organization Performance: A Study of Nigerian Manufacturing Companies

Authors: Cynthia Oluchi Akagha

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This paper highlights the increase in production cost and the corresponding outcomes in Nigeria using six major manufacturing companies as a case study. During an inflationary period, the cost-of-living increases, which reduces the purchasing power of money. Inflation has become a severe issue in many countries recently. To examine how inflation affects the success of businesses in Nigeria, a quantitative approach and a focus on causality were utilized to examine six (6) functional Nigerian manufacturing enterprises. The correlation between business production cost, cost of items supplied, and gross profit from 2021-2022 was analyzed. The analysis recorded that the cost of production increased in 2022 compared to 2021. The expansion varied between the six companies by 77.1%. Only one company out of six reported a decrease in gross profit in 2022 compared to the previous year. The other five companies' profits increased between 6.5% and 87%. Companies like these have thrived despite the rising cost of living because they have adjusted by increasing their product pricing. Since this change has the most significant influence on consumers, the best long-term reaction for a corporation to inflationary effects is often an improvement in cost efficiency, output, or both.

Keywords: economic meltdown, inflation, organization, performance

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54 The Determinants of Financial Stability: Evidence from Jordan

Authors: Wasfi Al Salamat, Shaker Al-Kharouf

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This study aims to examine the determinants of financial stability for 13 commercial banks listed on the Amman stock exchange (ASE) over the period (2007-2016) after controlling for the independent variables: return on equity (ROE), return on assets (ROA), earnings per share (EPS), growth in gross domestic product (GDP), inflation rate and debt ratio to measure the financial stability by three main variables: capital adequacy, non-performing loans and the number of returned checks. The balanced panel data statistical approach has been used for data analysis. Results are estimated by using multiple regression models. The empirical results suggested that there is statistically significant negative effect of inflation rate and debt ratio on the capital adequacy while there is statistically significant positive effect of growth in gross domestic product on capital adequacy. In contrast, there is statistically significant negative effect of return on equity and growth in gross domestic product on the non-performing loans while there is statistically significant positive effect of inflation rate on non-performing loans. Finally, there is statistically significant negative effect of growth in gross domestic product on the number of returned checks while there is statistically significant positive effect of inflation rate on the number of returned checks.

Keywords: capital adequacy, financial stability, non-performing loans, number of returned checks, ASE

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53 Tests for Zero Inflation in Count Data with Measurement Error in Covariates

Authors: Man-Yu Wong, Siyu Zhou, Zhiqiang Cao

Abstract:

In quality of life, health service utilization is an important determinant of medical resource expenditures on Colorectal cancer (CRC) care, a better understanding of the increased utilization of health services is essential for optimizing the allocation of healthcare resources to services and thus for enhancing the service quality, especially for high expenditure on CRC care like Hong Kong region. In assessing the association between the health-related quality of life (HRQOL) and health service utilization in patients with colorectal neoplasm, count data models can be used, which account for over dispersion or extra zero counts. In our data, the HRQOL evaluation is a self-reported measure obtained from a questionnaire completed by the patients, misreports and variations in the data are inevitable. Besides, there are more zero counts from the observed number of clinical consultations (observed frequency of zero counts = 206) than those from a Poisson distribution with mean equal to 1.33 (expected frequency of zero counts = 156). This suggests that excess of zero counts may exist. Therefore, we study tests for detecting zero-inflation in models with measurement error in covariates. Method: Under classical measurement error model, the approximate likelihood function for zero-inflation Poisson regression model can be obtained, then Approximate Maximum Likelihood Estimation(AMLE) can be derived accordingly, which is consistent and asymptotically normally distributed. By calculating score function and Fisher information based on AMLE, a score test is proposed to detect zero-inflation effect in ZIP model with measurement error. The proposed test follows asymptotically standard normal distribution under H0, and it is consistent with the test proposed for zero-inflation effect when there is no measurement error. Results: Simulation results show that empirical power of our proposed test is the highest among existing tests for zero-inflation in ZIP model with measurement error. In real data analysis, with or without considering measurement error in covariates, existing tests, and our proposed test all imply H0 should be rejected with P-value less than 0.001, i.e., zero-inflation effect is very significant, ZIP model is superior to Poisson model for analyzing this data. However, if measurement error in covariates is not considered, only one covariate is significant; if measurement error in covariates is considered, only another covariate is significant. Moreover, the direction of coefficient estimations for these two covariates is different in ZIP regression model with or without considering measurement error. Conclusion: In our study, compared to Poisson model, ZIP model should be chosen when assessing the association between condition-specific HRQOL and health service utilization in patients with colorectal neoplasm. and models taking measurement error into account will result in statistically more reliable and precise information.

Keywords: count data, measurement error, score test, zero inflation

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52 Predictive Models of Ruin Probability in Retirement Withdrawal Strategies

Authors: Yuanjin Liu

Abstract:

Retirement withdrawal strategies are very important to minimize the probability of ruin in retirement. The ruin probability is modeled as a function of initial withdrawal age, gender, asset allocation, inflation rate, and initial withdrawal rate. The ruin probability is obtained based on the 2019 period life table for the Social Security, IRS Required Minimum Distribution (RMD) Worksheets, US historical bond and equity returns, and inflation rates using simulation. Several popular machine learning algorithms of the generalized additive model, random forest, support vector machine, extreme gradient boosting, and artificial neural network are built. The model validation and selection are based on the test errors using hyperparameter tuning and train-test split. The optimal model is recommended for retirees to monitor the ruin probability. The optimal withdrawal strategy can be obtained based on the optimal predictive model.

Keywords: ruin probability, retirement withdrawal strategies, predictive models, optimal model

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51 Applied Actuator Fault Accommodation in Flight Control Systems Using Fault Reconstruction Based FDD and SMC Reconfiguration

Authors: A. Ghodbane, M. Saad, J. F. Boland, C. Thibeault

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Historically, actuators’ redundancy was used to deal with faults occurring suddenly in flight systems. This technique was generally expensive, time consuming and involves increased weight and space in the system. Therefore, nowadays, the on-line fault diagnosis of actuators and accommodation plays a major role in the design of avionic systems. These approaches, known as Fault Tolerant Flight Control systems (FTFCs) are able to adapt to such sudden faults while keeping avionics systems lighter and less expensive. In this paper, a (FTFC) system based on the Geometric Approach and a Reconfigurable Flight Control (RFC) are presented. The Geometric approach is used for cosmic ray fault reconstruction, while Sliding Mode Control (SMC) based on Lyapunov stability theory is designed for the reconfiguration of the controller in order to compensate the fault effect. Matlab®/Simulink® simulations are performed to illustrate the effectiveness and robustness of the proposed flight control system against actuators’ faulty signal caused by cosmic rays. The results demonstrate the successful real-time implementation of the proposed FTFC system on a non-linear 6 DOF aircraft model.

Keywords: actuators’ faults, fault detection and diagnosis, fault tolerant flight control, sliding mode control, geometric approach for fault reconstruction, Lyapunov stability

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50 The Vicissitudes of Monetary Policy Rates and Macro-Economic Variables in the West African Monetary Zone

Authors: Jonathan Olusegun Famoroti, Mathew Ekundayo Rotimi, Mishelle Doorasamy

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This study offers an empirical investigation into some selected macroeconomic drivers of the monetary policy rate in member countries of the West African Monetary Zone (WAMZ), considering both internal and external variables. We employed Autoregressive Distributed Lag (ARDL) to carry out the investigation between monetary policy and some macroeconomic variables in both the long-run and short-run relationship. The results suggest that the drivers of the policy rate in this zone, in the long run, include, among others, global oil price, exchange rate, inflation rate, and gross domestic product, while in the short run, federal fund rate, trade openness, exchange rate, inflation rate, and gross domestic product are core determinants of the policy rate. Therefore, in order to ensure long-run stability in the policy rate among the members’ states, these drivers should be given closer consideration so that the trajectory for effective structure can be designed and fused into the economic structure and policy frameworks accordingly.

Keywords: monetary policy rate, macroeconomic variables, WAMZ, ARDL

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49 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

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48 Extension-Torsion-Inflation Coupling in Compressible Magnetoelastomeric Tubes with Helical Magnetic Anisotropy

Authors: Darius Diogo Barreto, Ajeet Kumar, Sushma Santapuri

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We present an axisymmetric variational formulation for coupled extension-torsion-inflation deformation in magnetoelastomeric thin tubes when both azimuthal and axial magnetic fields are applied. The tube's material is assumed to have a preferred magnetization direction which imparts helical magnetic anisotropy to the tube. We have also derived the expressions of the first derivative of free energy per unit tube's undeformed length with respect to various imposed strain parameters. On applying the thin tube limit, the two nonlinear ordinary differential equations to obtain the in-plane radial displacement and radial component of the Lagrangian magnetic field get converted into a set of three simple algebraic equations. This allows us to obtain simple analytical expressions in terms of the applied magnetic field, magnetization direction, and magnetoelastic constants, which tell us how these parameters can be tuned to generate positive/negative Poisson's effect in such tubes. We consider both torsionally constrained and torsionally relaxed stretching of the tube. The study can be useful in designing magnetoelastic tubular actuators.

Keywords: nonlinear magnetoelasticity, extension-torsion coupling, negative Poisson's effect, helical anisotropy, thin tube

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47 Three-Dimensional Fluid-Structure-Thermal Coupling Dynamics Simulation Model of a Gas-Filled Fluid-Resistance Damper and Experimental Verification

Authors: Wenxue Xu

Abstract:

Fluid resistance damper is an important damping element to attenuate vehicle vibration. It converts vibration energy into thermal energy dissipation through oil throttling. It is a typical fluid-solid-heat coupling problem. A complete three-dimensional flow-structure-thermal coupling dynamics simulation model of a gas-filled fluid-resistance damper was established. The flow-condition-based interpolation (FCBI) method and direct coupling calculation method, the unit's FCBI-C fluid numerical analysis method and iterative coupling calculation method are used to achieve the damper dynamic response of the piston rod under sinusoidal excitation; the air chamber inflation pressure, spring compression characteristics, constant flow passage cross-sectional area and oil parameters, etc. The system parameters, excitation frequency, and amplitude and other excitation parameters are analyzed and compared in detail for the effects of differential pressure characteristics, velocity characteristics, flow characteristics and dynamic response of valve opening, floating piston response and piston rod output force characteristics. Experiments were carried out on some simulation analysis conditions. The results show that the node-based FCBI (flow-condition-based interpolation) fluid numerical analysis method and direct coupling calculation method can better guarantee the conservation of flow field calculation, and the calculation step is larger, but the memory is also larger; if the chamber inflation pressure is too low, the damper will become cavitation. The inflation pressure will cause the speed characteristic hysteresis to increase, and the sealing requirements are too strict. The spring compression characteristics have a great influence on the damping characteristics of the damper, and reasonable damping characteristic needs to properly design the spring compression characteristics; the larger the cross-sectional area of the constant flow channel, the smaller the maximum output force, but the more stable when the valve plate is opening.

Keywords: damper, fluid-structure-thermal coupling, heat generation, heat transfer

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46 An Application of Vector Error Correction Model to Assess Financial Innovation Impact on Economic Growth of Bangladesh

Authors: Md. Qamruzzaman, Wei Jianguo

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Over the decade, it is observed that financial development, through financial innovation, not only accelerated development of efficient and effective financial system but also act as a catalyst in the economic development process. In this study, we try to explore insight about how financial innovation causes economic growth in Bangladesh by using Vector Error Correction Model (VECM) for the period of 1990-2014. Test of Cointegration confirms the existence of a long-run association between financial innovation and economic growth. For investigating directional causality, we apply Granger causality test and estimation explore that long-run growth will be affected by capital flow from non-bank financial institutions and inflation in the economy but changes of growth rate do not have any impact on Capital flow in the economy and level of inflation in long-run. Whereas, growth and Market capitalization, as well as market capitalization and capital flow, confirm feedback hypothesis. Variance decomposition suggests that any innovation in the financial sector can cause GDP variation fluctuation in both long run and short run. Financial innovation promotes efficiency and cost in financial transactions in the financial system, can boost economic development process. The study proposed two policy recommendations for further development. First, innovation friendly financial policy should formulate to encourage adaption and diffusion of financial innovation in the financial system. Second, operation of financial market and capital market should be regulated with implementation of rules and regulation to create conducive environment.

Keywords: financial innovation, economic growth, GDP, financial institution, VECM

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45 Determinants of Economic Growth in Pakistan: A Structural Vector Auto Regression Approach

Authors: Muhammad Ajmair

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This empirical study followed structural vector auto regression (SVAR) approach proposed by the so-called AB-model of Amisano and Giannini (1997) to check the impact of relevant macroeconomic determinants on economic growth in Pakistan. Before that auto regressive distributive lag (ARDL) bound testing technique and time varying parametric approach along with general to specific approach was employed to find out relevant significant determinants of economic growth. To our best knowledge, no author made such a study that employed auto regressive distributive lag (ARDL) bound testing and time varying parametric approach with general to specific approach in empirical literature, but current study will bridge this gap. Annual data was taken from World Development Indicators (2014) during period 1976-2014. The widely-used Schwarz information criterion and Akaike information criterion were considered for the lag length in each estimated equation. Main findings of the study are that remittances received, gross national expenditures and inflation are found to be the best relevant positive and significant determinants of economic growth. Based on these empirical findings, we conclude that government should focus on overall economic growth augmenting factors while formulating any policy relevant to the concerned sector.

Keywords: economic growth, gross national expenditures, inflation, remittances

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44 Exchange Rate Fluctuations and Economic Performance of Manufacturing Sector: Evidence from Nigeria

Authors: Ifeoma Patricia Osamor, Ayotunde Qudus Saka, Godwin Omoregbee, Hikmat Oreoluwalomo Omolaja

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Persistent fall in the value of Nigeria's currency compared to other foreign currencies, constant fluctuations in the exchange rate, and an increase in the price of goods and services necessitated the examination of the effects of exchange rate fluctuations on the economic performance of the manufacturing sector in Nigeria. An ex-post facto research design was adopted. Manufacturing gross domestic product (MGDP) was proxied for performance; Naira/Dollar exchange rate (NDE), Naira/Pounds exchange rate (NPE), Foreign exchange supply (FES) were used for exchange rate fluctuations; and inflation rate (INF) was a control variable. Data were collected from CBN Statistical Bulletin (2020) also World Development Indicators of the World Bank, while data collected were analysed using descriptive analysis, unit root, bounds cointegration test, and ARDL. Findings showed that changes in Naira/Dollar exchange rate (NDE) and Naira/Pound Sterling exchange rate negatively but significantly impact the economic performance of the manufacturing sector, while foreign exchange supply leads to an insignificant positive effect on the economic performance of the manufacturing. The study concludes that exchange rate fluctuations negatively impact the performance of the manufacturing sector in Nigeria and, therefore, recommends that government should encourage export diversification through agriculture, agro-investment, and agro-allied industries that would boost export in order to improve the value of the Naira, thereby stabilizing the exchange rate.

Keywords: exchange rate, economic performance, gross domestic product, inflation rate, foreign exchange supply

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43 Exploring Faculty Attitudes about Grades and Alternative Approaches to Grading: Pilot Study

Authors: Scott Snyder

Abstract:

Grading approaches in higher education have not changed meaningfully in over 100 years. While there is variation in the types of grades assigned across countries, most use approaches based on simple ordinal scales (e.g, letter grades). While grades are generally viewed as an indication of a student's performance, challenges arise regarding the clarity, validity, and reliability of letter grades. Research about grading in higher education has primarily focused on grade inflation, student attitudes toward grading, impacts of grades, and benefits of plus-minus letter grade systems. Little research is available about alternative approaches to grading, varying approaches used by faculty within and across colleges, and faculty attitudes toward grades and alternative approaches to grading. To begin to address these gaps, a survey was conducted of faculty in a sample of departments at three diverse colleges in a southeastern state in the US. The survey focused on faculty experiences with and attitudes toward grading, the degree to which faculty innovate in teaching and grading practices, and faculty interest in alternatives to the point system approach to grading. Responses were received from 104 instructors (21% response rate). The majority reported that teaching accounted for 50% or more of their academic duties. Almost all (92%) of respondents reported using point and percentage systems for their grading. While all respondents agreed that grades should reflect the degree to which objectives were mastered, half indicated that grades should also reflect effort or improvement. Over 60% felt that grades should be predictive of success in subsequent courses or real life applications. Most respondents disagreed that grades should compare students to other students. About 42% worried about their own grade inflation and grade inflation in their college. Only 17% disagreed that grades mean different things based on the instructor while 75% thought it would be good if there was agreement. Less than 50% of respondents felt that grades were directly useful for identifying students who should/should not continue, identify strengths/weaknesses, predict which students will be most successful, or contribute to program monitoring of student progress. Instructors were less willing to modify assessment than they were to modify instruction and curriculum. Most respondents (76%) were interested in learning about alternative approaches to grading (e.g., specifications grading). The factors that were most associated with willingness to adopt a new grading approach were clarity to students and simplicity of adoption of the approach. Follow-up studies are underway to investigate implementations of alternative grading approaches, expand the study to universities and departments not involved in the initial study, examine student attitudes about alternative approaches, and refine the measure of attitude toward adoption of alternative grading practices within the survey. Workshops about challenges of using percentage and point systems for determining grades and workshops regarding alternative approaches to grading are being offered.

Keywords: alternative approaches to grading, grades, higher education, letter grades

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42 On Panel Data Analysis of Factors on Economic Advances in Some African Countries

Authors: Ayoola Femi J., Kayode Balogun

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In some African Countries, increase in Gross Domestic Products (GDP) has not translated to real development as expected by common-man in his household. For decades, a lot of contests on economic growth and development has been a nagging issues. The focus of this study is to analysing the effects of economic determinants/factors on economic advances in some African Countries by employing panel data analysis. The yearly (1990-2013) data were obtained from the world economic outlook database of the International Monetary Fund (IMF), for probing the effects of these variables on growth rate in some selected African countries which include: Nigeria, Algeria, Angola, Benin, Botswana, Burundi, Cape-Verde, Cameroun, Central African Republic, Chad, Republic Of Congo, Cote di’ Voire, Egypt, Equatorial-Guinea, Ethiopia, Gabon, Ghana, Guinea Bissau, Kenya, Lesotho, Madagascar, Mali, Mauritius, Morocco, Mozambique, Niger, Rwanda, Senegal, Seychelles, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Togo, Tunisia, and Uganda. The effects of 6 macroeconomic variables on GDP were critically examined. We used 37 Countries GDP as our dependent variable and 6 independent variables used in this study include: Total Investment (totinv), Inflation (inf), Population (popl), current account balance (cab), volume of imports of goods and services (vimgs), and volume of exports of goods and services (vexgs). The results of our analysis shows that total investment, population and volume of exports of goods and services strongly affect the economic growth. We noticed that population of these selected countries positively affect the GDP while total investment and volume of exports negatively affect GDP. On the contrary, inflation, current account balance and volume of imports of goods and services’ contribution to the GDP are insignificant. The results of our analysis shows that total investment, population and volume of exports of goods and services strongly affect the economic growth. We noticed that population of these selected countries positively affect the GDP while total investment and volume of exports negatively affect GDP. On the contrary, inflation, current account balance and volume of imports of goods and services’ contribution to the GDP are insignificant. The results of this study would be useful for individual African governments for developing a suitable and appropriate economic policies and strategies. It will also help investors to understand the economic nature and viability of Africa as a continent as well as its individual countries.

Keywords: African countries, economic growth and development, gross domestic products, static panel data models

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41 A Proposed Mechanism for Skewing Symmetric Distributions

Authors: M. T. Alodat

Abstract:

In this paper, we propose a mechanism for skewing any symmetric distribution. The new distribution is called the deflation-inflation distribution (DID). We discuss some statistical properties of the DID such moments, stochastic representation, log-concavity. Also we fit the distribution to real data and we compare it to normal distribution and Azzlaini's skew normal distribution. Numerical results show that the DID fits the the tree ring data better than the other two distributions.

Keywords: normal distribution, moments, Fisher information, symmetric distributions

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40 Modeling SET Effect on Charge Pump Phase Locked Loop

Authors: Varsha Prasad, S. Sandya

Abstract:

Cosmic Ray effects in microelectronics such as single event effect (SET) and total dose ionization (TID) have been of major concern in space electronics since 1970. Advanced CMOS technologies have demonstrated reduced sensitivity to TID effect. However, charge pump Phase Locked Loop is very much vulnerable to single event transient effect. This paper presents an SET analysis model, where the SET is modeled as a double exponential pulse. The time domain analysis reveals that the settling time of the voltage controlled oscillator (VCO) depends on the SET pulse strength, setting the time constant and the damping factor. The analysis of the proposed SET analysis model is confirmed by the simulation results.

Keywords: charge pump, phase locked loop, SET, VCO

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39 Nematodes, Rotifers, Tardigrades and Diatoms as Vehicles for the Panspermic Transfer of Microbes

Authors: Sulamain Alharbi, Mohammad Khiyami, Reda Amasha, Bassam Al-Johny, Hesham Khalil, Milton Wainwrigh

Abstract:

Nematodes, Rotifers and Tardigrades (NRT) are extreme-tolerant invertebrates which can survive long periods of stasis brought about by extreme drying and cold. They can also resist the effects of UV radiation, and as a result could act as vehicles for the panspermic transfer of microorganisms. Here we show that NRT contain a variety of bacteria and fungi within their bodies in which environment they could be protected from the extremes of the space and released into new cosmic environments. Diatoms were also shown to contain viable alga and Escherichia coli and so could also act as panspermic vehicles for the transfer of these and perhaps other microbes through space. Although not studied here, NRT, and possibly diatoms, also carry protozoa and viruses within their bodies and could act as vehicles for the panspermic transfer of an even wider range of microbes than shown here.

Keywords: extromophiles, diatoms, panspermia, survival in space

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38 Factors Affecting Air Surface Temperature Variations in the Philippines

Authors: John Christian Lequiron, Gerry Bagtasa, Olivia Cabrera, Leoncio Amadore, Tolentino Moya

Abstract:

Changes in air surface temperature play an important role in the Philippine’s economy, industry, health, and food production. While increasing global mean temperature in the recent several decades has prompted a number of climate change and variability studies in the Philippines, most studies still focus on rainfall and tropical cyclones. This study aims to investigate the trend and variability of observed air surface temperature and determine its major influencing factor/s in the Philippines. A non-parametric Mann-Kendall trend test was applied to monthly mean temperature of 17 synoptic stations covering 56 years from 1960 to 2015 and a mean change of 0.58 °C or a positive trend of 0.0105 °C/year (p < 0.05) was found. In addition, wavelet decomposition was used to determine the frequency of temperature variability show a 12-month, 30-80-month and more than 120-month cycles. This indicates strong annual variations, interannual variations that coincide with ENSO events, and interdecadal variations that are attributed to PDO and CO2 concentrations. Air surface temperature was also correlated with smoothed sunspot number and galactic cosmic rays, the results show a low to no effect. The influence of ENSO teleconnection on temperature, wind pattern, cloud cover, and outgoing longwave radiation on different ENSO phases had significant effects on regional temperature variability. Particularly, an anomalous anticyclonic (cyclonic) flow east of the Philippines during the peak and decay phase of El Niño (La Niña) events leads to the advection of warm southeasterly (cold northeasterly) air mass over the country. Furthermore, an apparent increasing cloud cover trend is observed over the West Philippine Sea including portions of the Philippines, and this is believed to lessen the effect of the increasing air surface temperature. However, relative humidity was also found to be increasing especially on the central part of the country, which results in a high positive trend of heat index, exacerbating the effects on human discomfort. Finally, an assessment of gridded temperature datasets was done to look at the viability of using three high-resolution datasets in future climate analysis and model calibration and verification. Several error statistics (i.e. Pearson correlation, Bias, MAE, and RMSE) were used for this validation. Results show that gridded temperature datasets generally follows the observed surface temperature change and anomalies. In addition, it is more representative of regional temperature rather than a substitute to station-observed air temperature.

Keywords: air surface temperature, carbon dioxide, ENSO, galactic cosmic rays, smoothed sunspot number

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37 General Framework for Price Regulation of Container Terminals

Authors: Murat Yildiz, Burcu Yildiz

Abstract:

Price Cap Regulation is a form of economic regulation designed in the 1980s in the United Kingdom. Price cap regulation sets a cap on the price that the utility provider can charge. The cap is set according to several economic factors, such as the price cap index, expected efficiency savings and inflation. It has been used by several countries as a regulatory regime in several sectors. Container port privatization is still in early stages in some countries. Lack of a general framework can be an impediment to privatization. This paper aims a general framework to comprising decisions to be made for variables which are able to accommodate the variety of container terminals. Several approaches that may be needed as well as a passage between approaches.

Keywords: Price Cap Regulation, ports privatization, container terminal price regime, earning sharing

Procedia PDF Downloads 322