Search results for: single minute exchange of dies

Authors: Rudi Kurniawan Arief

Abstract:

Manufacturing cost and setup time are the hot topics to improve in Metal Stamping industry because material and components price are always rising up while costumer requires to cut down the component price year by year. The Single Minute Exchange of Die (SMED) is one of many methods to reduce waste in stamping industry. The Japanese Quick Die Change (QDC) dies system is one of SMED systems that could reduce both of setup time and manufacturing cost. However, this system is rarely used in stamping industries. This paper will analyze how deep the QDC dies system could reduce setup time and the manufacturing cost. The research is conducted by direct observation, simulating and comparing of QDC dies system with conventional dies system. In this research, we found that the QDC dies system could save up to 35% of manufacturing cost and reduce 70% of setup times. This simulation proved that the QDC die system is effective for cost reduction but must be applied in several parallel production processes.

Keywords: press die, metal stamping, QDC system, single minute exchange die, manufacturing cost saving, SMED

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Authors: Charles Chikwendu Okpala, Christopher Chukwutoo Ihueze

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As a technique that reduces variation in a product by lessening the sensitivity of the design to sources of variation, rather than by controlling their sources, Taguchi Robust Design entails the designing of ideal goods, by developing a product that has minimal variance in its characteristics and also meets the desired exact performance. This paper examined the concept of the manufacturing approach and its application to brake pad product of an automotive parts manufacturing company. Although the firm claimed that only defects, excess inventory, and over-production were the few wastes that grossly affect their productivity and profitability, a careful study and analysis of their manufacturing processes with the application of Single Minute Exchange of Dies (SMED) tool showed that the waste of waiting is the fourth waste that bedevils the firm. The selection of the Taguchi L9 orthogonal array which is based on the four parameters and the three levels of variation for each parameter revealed that with a range of 2.17, that waiting is the major waste that the company must reduce in order to continue to be viable. Also, to enhance the company’s throughput and profitability, the wastes of over-production, excess inventory, and defects with ranges of 2.01, 1.46, and 0.82, ranking second, third, and fourth respectively must also be reduced to the barest minimum. After proposing -33.84 as the highest optimum Signal-to-Noise ratio to be maintained for the waste of waiting, the paper advocated for the adoption of all the tools and techniques of Lean Production System (LPS), and Continuous Improvement (CI), and concluded by recommending SMED in order to drastically reduce set up time which leads to unnecessary waiting.

Keywords: lean production system, single minute exchange of dies, signal to noise ratio, Taguchi robust design, waste

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Authors: Jun Young Chong, Seung Whan Kim

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Introduction: The use of personal protective equipment for respiratory infection control in cardiopulmonary resuscitation (CPR) is a physical burden to healthcare providers. It matters how long CPR quality according to recommended guidelines can be maintained under these circumstances. It was investigated whether chest compression time was appropriate for a 2-minute shift and how long it was maintained in accordance with the guidelines under such conditions. Methods: This prospective crossover simulation study was performed at a single center from September 2020 to October 2020. Five indicators of CPR quality were measured during the first and second sessions of the study period. All participants wore a Level D powered air-purifying respirator (PAPR), and the experiment was conducted using a Resusci Anne manikin, which can measure the quality of chest compressions. Each participant conducted two sessions. In session one, 2-minutes of chest compressions followed by a 2-minute rest was repeated twice; in session two, 1-minute of chest compressions followed by a 1-minute rest was repeated four times. Results: All 34 participants completed the study. The deep and sufficient compression rate was 65.9 ± 13.1 mm in the 1-minute shift group and 61.5 ± 30.5 mm in the 2-minute shift group. The mean depth was 52.8 ±4.3 mm in the 1-minute shift group and 51.0 ± 6.1 mm in the 2-minute shift group. In these two values, there was a statistically significant difference between the two sessions. There was no statistically significant difference in the other CPR quality values. Conclusions: It was suggested that the different standard of current 2-minute to 1-minute cycles due to a significant reduction in the quality of chest compression in cases of CPR with PAPR.

Keywords: cardiopulmonary resuscitation, chest compression, personal protective equipment, powered air-purifying respirator

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Authors: A. Abdikian

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Using the linearized quantum hydrodynamic model (QHD) and by considering the role of quantum parameter (Bohm’s potential) and electron exchange-correlation potential in conjunction with Maxwell’s equations, electromagnetic wave propagation in a single-walled carbon nanotubes was studied. The electronic excitations are described. By solving the mentioned equations with appropriate boundary conditions and by assuming the low-frequency electromagnetic waves, two general expressions of dispersion relations are derived for the transverse magnetic (TM) and transverse electric (TE) modes, respectively. The dispersion relations are analyzed numerically and it was found that the dependency of dispersion curves with the exchange-correlation effects (which have been ignored in previous works) in the low frequency would be limited. Moreover, it has been realized that asymptotic behaviors of the TE and TM modes are similar in single wall carbon nanotubes (SWCNTs). The results show that by adding the function of electron exchange-correlation potential lead to the phenomena and make to extend the validity range of QHD model. The results can be important in the study of collective phenomena in nanostructures.

Keywords: transverse magnetic, transverse electric, quantum hydrodynamic model, electron exchange-correlation potential, single-wall carbon nanotubes

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Authors: Yingjeng James Li, Lung-Yu Sung, Huan-Jyun Ciou

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Durability of Membrane Electrode Assembly for Proton Exchange Membrane Fuel Cells was evaluated in both steady state and accelerated decay modes. Steady state mode was carried out at constant current of 800mA / cm2 for 2500 hours using air as cathode feed and pure hydrogen as anode feed. The degradation of the cell voltage was 0.015V after such 2500 hrs operation. The degradation rate was therefore calculated to be 6uV / hr. Accelerated mode was carried out by switching the voltage of the single cell between OCV and 0.2V. The durations held at OCV and 0.2V were 20 and 40 seconds, respectively, meaning one minute per cycle. No obvious change in performance of the MEA was observed after 10000 cycles of such operation.

Keywords: durability, lifetime, membrane electrode assembly, proton exchange membrane fuel cells

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Authors: Zhifu Li, Lei Li, Wanting Zhou, Yuanhang He

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This paper proposed a lightweight certificate-less authentication and key exchange protocol (Light-CL-PKC) based on elliptic curve cryptography and the Chinese Remainder Theorem for smart home scenarios. Light-CL-PKC can efficiently reduce the computational cost of both sides of authentication by forgoing time-consuming bilinear pair operations and making full use of point-addition and point-multiplication operations on elliptic curves. The authentication and key exchange processes in this system are also completed in a a single round of communication between the two parties. The analysis result demonstrates that it can significantly minimize the communication overhead of more than 32.14% compared with the referenced protocols, while the runtime for both authentication and key exchange have also been significantly reduced.

Keywords: authentication, key exchange, certificateless public key cryptography, elliptic curve cryptography

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Authors: Adel H. Hejaaji

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The need for organisations to be flexible to meet the rapidly changing requirements of their customers is now well appreciated and can be witnessed within companies with their use of techniques such as single-minute exchange of die (SMED) for machine change-over or Kanban as the visual production and inventory control for Just-in-time manufacture and delivery. What is not so well appreciated by companies is the need for agility. Put simply it is the need to be alert for a new and unexpected opportunity and quick to respond with the changes necessary in order to profit from it. This paper aims to study the literature of agility in manufacturing to understand the concept of agility and how it is important and critical for the small and medium size manufacturing organisations (SMEs), and to defined the specific benefits of moving towards agility, and thus what benefit it can bring to an organisation.

Keywords: SMEs, agile manufacturing, manufacturing, industrial engineering

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Authors: Tri Wijayanti Septiarini, Agus Maman Abadi, Muhammad Rifki Taufik

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The exchange rate of IDR/USD can be the indicator to analysis Indonesian economy. The exchange rate as a important factor because it has big effect in Indonesian economy overall. So, it needs the analysis data of exchange rate. There is decomposition data of exchange rate of IDR/USD to be frequency and time. It can help the government to monitor the Indonesian economy. This method is very effective to identify the case, have high accurate result and have simple structure. In this paper, data of exchange rate that used is weekly data from December 17, 2010 until November 11, 2014.

Keywords: the exchange rate, fuzzy mamdani, discrete wavelet transforms, fuzzy wavelet

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Authors: R. Henry, H. Andriamboavonjy, J. B. Paulin, S. Drahy, R. Gourichon

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During past decade, Chinese monetary policy has been to maintain stability of exchange rate CNY/USD by creating parity between the two currencies. This policy, against market equilibrium, impacts the exchange rate in having low Yuan currency, and keeping attractiveness of Chinese industries. Using macroeconomic and statistic approach, the impact of such policy onto CNY/USD exchange rate is quantitatively determined. It is also pointed out how Chinese banks respect Basel III ratios, in particular the foreign exchange ratio. The main analysis is focusing on how Chinese banks will respect these ratios in the future.

Keywords: macroeconomics models, yuan floating exchange rate, basel iii, china banking system

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Authors: Seung Yeon Son

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In today’s rapidly changing and increasingly complex environment, organizations have relied on their members’ positive attitude toward their employers. In particular, employees’ organizational commitment (primarily, the effective component) has been recognized as an essential component of organizational functioning and success. Hence, identifying the determinants of effective commitment is one of the most important research issues. This study tested the influence of leader-member exchange (LMX) and exchange ideology on employee’s effective commitment. In addition, the interactive effect of LMX and exchange ideology was examined. Data from 198 members of the Korean military supports each of the hypotheses. Lastly, implications for research and directions for future research are discussed.

Keywords: affective commitment, exchange ideology, leader-member exchange, commitment

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Authors: Hebe Wong, Luz Fernandez Calventos

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Tandem language learning, a language exchange process based on the principles of autonomy and reciprocity, provides opportunities for interlocutors to learn each other’s language by communicating online or face-to-face. While much attention has been paid to the process and outcomes of tandem learning via email, little has been discussed about the effectiveness of face-to-face tandem learning on language and culture exchange for university students. The LACTS (Language and Culture Tandem Scheme), an 8-week project, was set up to study students’ perceptions of conducting tandem learning to assist their language and culture exchange. Students of both post-graduate and undergraduate programmes (N=103) from a Hong Kong SAR university were put in groups of 4 to 6 according to their availability and language preferences and met for an hour a week. While sample task sheets on a range of topics were provided to assist the language exchange, all groups were encouraged to take charge of their meeting format and choose their own topics. At the end of the project, a 19-item questionnaire, which included both open-and closed-ended questions investigating students’ perceptions of reciprocal teaching and cultural exchange, was administered. Thirty-minute individual interviews were conducted to elicit students’ views and experiences in the LACTS activities. Quantitative and qualitative data analysis showed that most students agreed that the project had enhanced their cultural awareness and helped create an inclusive and participatory learning environment. Significant differences were found in students’ confidence in speaking their targeted language after joining the scheme. The interviews also provided rich data on the variety of formats and leadership patterns in student-led meetings, which could shed light on student autonomy and future tandem language learning projects.

Keywords: autonomy, reciprocity, tandem language learning, university students

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Authors: Afshin Zohdi, Selçuk Özdemir, Mustafa Aksoy

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Tungsten carbide-cobalt (WC-Co) is a widely utilized material for cold forming dies, including those employed in fastener production. In this study, we investigated the effectiveness of the pack boriding method in improving the surface properties of WC-Co cold forging dies. The boriding process involved embedding WC-Co samples, along with a steel control sample, within a chamber made of H13 tool steel. A boriding powder mixture was introduced into the chamber, which was then sealed using a paste. Subsequently, the samples were subjected to a temperature of 700°C for 5 hours in a furnace. Microstructural analysis, including cross-sectional examination and scanning electron microscopy (SEM), confirmed successful boron diffusion and its presence on the surface of the borided samples. The microhardness of the borided layer was significantly increased (3980 HV1) compared to the unborided sample (1320 HV3), indicating enhanced hardness. The borided layer exhibited an acceptable thickness of 45 microns, with a diffusion coefficient of 1.125 × 10-7 mm²/s, signifying a moderate diffusion rate. Energy-dispersive X-ray spectroscopy (EDS) mapping revealed an increase in boron content, desirable for the intended purpose, while an undesired increase in oxygen content was observed. Furthermore, the pin-on-disk wear test demonstrated a reduction in friction coefficient, indicating improved mechanical and tribological properties of the surface. The successful implementation of the pack boriding process highlights its potential for enhancing the performance of WC-Co cold forging dies.

Keywords: WC-Co, cold forging dies, pack boriding, surface hardness, wear resistance, microhardness, diffusion coefficient, scanning electron microscopy, energy-dispersive X-ray spectroscopy

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Authors: Timothy Quinn, Ronald Croce, Aliaksandr Leuchanka, Justin Walker

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Many endurance athletes train at or just below an intensity associated with their lactate threshold (LT) and often the heart rate (HR) that these athletes use for their LT are above their true LT-HR measured in a laboratory. Training above their true LT-HR may lead to overtraining and injury. Few athletes have the capability of measuring their LT in a laboratory and rely on perception to guide them, as accurate field tests to determine LT are limited. Therefore, the purpose of this study was to determine if an 8-minute field test could accurately define the HR associated with LT as measured in the laboratory. On Day 1, fifteen male runners (mean±SD; age, 27.8±4.1 years; height, 177.9±7.1 cm; body mass, 72.3±6.2 kg; body fat, 8.3±3.1%) performed a discontinuous treadmill LT/maximal oxygen consumption (LT/VO2max) test using a portable metabolic gas analyzer (Cosmed K4b2) and a lactate analyzer (Analox GL5). The LT (and associated HR) was determined using the 1/+1 method, where blood lactate increased by 1 mMol•L-1 over baseline followed by an additional 1 mMol•L-1 increase. Days 2 and 3 were randomized, and the athletes performed either an 8-minute run on the treadmill (TM) or on a 160-m indoor track (TR) in an effort to cover as much distance as possible while maintaining a high intensity throughout the entire 8 minutes. VO2, HR, ventilation (VE), and respiratory exchange ratio (RER) were measured using the Cosmed system, and rating of perceived exertion (RPE; 6-20 scale) was recorded every minute. All variables were averaged over the 8 minutes. The total distance covered over the 8 minutes was measured in both conditions. At the completion of the 8-minute runs, blood lactate was measured. Paired sample t-tests and pairwise Pearson correlations were computed to determine the relationship between variables measured in the field tests versus those obtained in the laboratory at LT. An alpha level of <0.05 was required for statistical significance. The HR (mean +SD) during the TM (167+9 bpm) and TR (172+9 bpm) tests were strongly correlated to the HR measured during the laboratory LT (169+11 bpm) test (r=0.68; p<0.03 and r=0.88; p<0.001, respectively). Blood lactate values during the TM and TR tests were not different from each other but were strongly correlated with the laboratory LT (r=0.73; p<0.04 and r=0.66; p<0.05, respectively). VE (Lmin-1) was significantly greater during the TR (134.8+11.4 Lmin-1) as compared to the TM (123.3+16.2 Lmin-1) with moderately strong correlations to the laboratory threshold values (r=0.38; p=0.27 and r=0.58; p=0.06, respectively). VO2 was higher during TR (51.4 mlkg-1min-1) compared to TM (47.4 mlkg-1min-1) with correlations of 0.33 (p=0.35) and 0.48 (p=0.13), respectively to threshold values. Total distance run was significantly greater during the TR (2331.6+180.9 m) as compared to the TM (2177.0+232.6 m), but they were strongly correlated with each other (r=0.82; p<0.002). These results suggest that an 8-minute running field test can accurately predict the HR associated with the LT and may be a simple test that athletes and coaches could implement to aid in training techniques.

Keywords: blood lactate, heart rate, running, training

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Authors: Karima Menad, Ahmed Feddag

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In this study, large crystals of the zeolite NaA were synthesized by hydrothermal way. By following this zeolite was used to recover two heavy metals that are allowing the most dangerous toxic, lead and cadmium. The synthesized zeolite was analyzed by XRD and SEM aims to verify its purity and its good morphology; after it was undergoing ion exchange operations by aqueous solution with lead and cadmium in two salts Pb(CH3COOH)2 and CdCl2 at different concentrations. The exchange was carried out under the effect of two temperatures (25 °C and 60 °C). The contents of Pb++, Cd++ and Na+ were analyzed by atomic absorption and the results are given in the form of exchange rates. At the end the samples are analyzed by XRD exchanged to confirm their conservation of their zeolite framework. It is found that the exchange rate increases with the increase of initial concentration and the best results are found for the temperature of 60 °C.

Keywords: exchange rate, ion exchange, LTA zeolite, zeolite NaA

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Authors: G. G. Kagramanov, E. N. Farnosova, Linn Maung Maung

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The technologies of ion exchange and nanofiltration can be used for treatment of wastewater containing copper and other heavy metal ions to decrease the environmental risks. Nanofiltration characteristics under water treatment of heavy metals have been studied. The influence of main technical process parameters - pressure, temperature, concentration and pH value of the initial solution on flux and rejection of nanofiltration membranes has been considered. And ion exchange capacities of resins in removal of heavy metal ions from wastewater have been determined.

Keywords: exchange capacity, heavy metals, ion exchange, membrane separation, nanofiltration

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Authors: Jonathan R. Olsen, Natalie Nicholls, Jenna Panter, Hannah Burnett, Michael Tornow, Richard Mitchell

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The 20-minute neighborhood is a policy priority for governments worldwide and a key feature of this policy is providing access to natural space within 800 meters of home. The study aims were to (1) examine the association between distance to nearest natural space and frequent use over time and (2) examine whether frequent use and changes in use were patterned by income and housing tenure over time. Bi-annual Scottish Household Survey data were obtained for 2013 to 2019 (n:42128 aged 16+). Adults were asked the walking distance to their nearest natural space, the frequency of visits to this space and their housing tenure, as well as age, sex and income. We examined the association between distance from home of nearest natural space, housing tenure, and the likelihood of frequent natural space use (visited once a week or more). Two-way interaction terms were further applied to explore variation in the association between tenure and frequent natural space use over time. We found that 87% of respondents lived within 10 minute walk of a natural space, meeting the policy specification for a 20-minute neighbourhood. Greater proximity to natural space was associated with increased use; individuals living a 6 to 10 minute walk and over 10 minute walk were respectively 53% and 78% less likely to report frequent natural space use than those living within a 5 minute walk. Housing tenure was an important predictor of frequent natural space use; private renters and homeowners were more likely to report frequent natural space use than social renters. Our findings provide evidence that proximity to natural space is a strong predictor of frequent use. Our study provides important evidence that time-based access measures alone do not consider deep-rooted socioeconomic variation in use of Natural space. Policy makers should ensure a nuanced lens is applied to operationalising and monitoring the 20-minute neighbourhood to safeguard against exacerbating existing inequalities.

Keywords: natural space, housing, inequalities, 20-minute neighbourhood, urban design

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Authors: Rudan Xue, Annika Moscati, Rehel Zeleke Kebede, Peter Johansson

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Successful buildings’ simulation and analysis inevitably require information exchange between multiple building information modeling (BIM) software. The BIM infor-mation exchange based on IFC is widely used. However, Industry Foundation Classifi-cation (IFC) files are not always reliable and information can get lost when using dif-ferent software for modeling and simulations. In this research, interviews with lighting simulation experts and a case study provided by a company producing lighting devices have been the research methods used to identify the necessary steps and data for suc-cessful information exchange between lighting simulation tools and authoring design tools. Model creation, information exchange, and model simulation have been identi-fied as key aspects for the success of information exchange. The paper concludes with recommendations for improved information exchange and more reliable simulations that take all the needed parameters into consideration.

Keywords: BIM, data exchange, interoperability issues, lighting simulations

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Authors: Anders Schou Simonsen, Thomas Condra, Kim Sørensen

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Various processes are modelled using a discrete phase, where particles are seeded from a source. Such particles can represent liquid water droplets, which are affecting the continuous phase by exchanging thermal energy, momentum, species etc. Discrete phases are typically modelled using parcel, which represents a collection of particles, which share properties such as temperature, velocity etc. When coupling the phases, the exchange rates are integrated over the cell, in which the parcel is located. This can cause spikes and fluctuating exchange rates. This paper presents an alternative method of coupling a discrete and a continuous plug flow phase. This is done using triangular parcels, which span between nodes following the dynamics of single droplets. Thus, the triangular parcels are propagated using the corner nodes. At each time step, the exchange rates are spatially integrated over the surface of the triangular parcels, which yields a smooth continuous exchange rate to the continuous phase. The results shows that the method is more stable, converges slightly faster and yields smooth exchange rates compared with the steam tube approach. However, the computational requirements are about five times greater, so the applicability of the alternative method should be limited to processes, where the exchange rates are important. The overall balances of the exchanged properties did not change significantly using the new approach.

Keywords: CFD, coupling, discrete phase, parcel

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Authors: Yuxi Zhu, Zhenqian Chen

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It is of great interest to investigate the thermal properties of non-precious metal catalysts for Proton exchange membrane fuel cell (PEMFC) based on the thermal management requirements. Due to the low symmetry of materials, to accurately obtain the thermal conductivity of materials, it is necessary to obtain the second and third order force constants by combining density functional theory and machine learning interatomic potential. To be specific, the interatomic force constants are obtained by moment tensor potential (MTP), which is trained by the computational trajectory of Ab initio molecular dynamics (AIMD) at 50, 300, 600, and 900 K for 1 ps each, with a time step of 1 fs in the AIMD computation. And then the thermal conductivity can be obtained by solving the Boltzmann transport equation. In this paper, the thermal transport properties of single metal atom catalysts are studied for the first time to our best knowledge by machine-learning interatomic potential (MLIP). Results show that the single metal atom catalysts exhibit anisotropic thermal conductivities and partially exhibit good thermal conductivity. The average lattice thermal conductivities of G-FeN₄, G-CoN₄ and G-NiN₄ at 300 K are 88.61 W/mK, 205.32 W/mK and 210.57 W/mK, respectively. While other single metal atom catalysts show low thermal conductivity due to their low phonon lifetime. The results also show that low-frequency phonons (0-10 THz) dominate thermal transport properties. The results provide theoretical insights into the application of single metal atom catalysts in thermal management.

Keywords: proton exchange membrane fuel cell, single metal atom catalysts, density functional theory, thermal conductivity, machine-learning interatomic potential

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Authors: Saad Bin Nasir

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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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Authors: K. Menad, A. Faddeg

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Zeolites are a family of mineral compounds. With special properties that have led to several important industrial applications. Ion exchange has enabled the first industrial application in the field of water treatment. The exchange by aqueous pathway is the method most used in the case of such microporous materials and this technique will be used in this work. The objective of this work is to find performance materials for the recovery of heavy metals such as cadmium. The study is to compare the properties of different ion exchange zeolite Na-X, Na-A, their physical mixture and the composite A (LTA) / X (FAU). After the synthesis of various zeolites X and A, it was designed a model Core-Shell to form a composite zeolite A on zeolite X. Finally, ion exchange studies were performed on these zeolite materials. The cation is exclusively tested for cadmium, a toxic element and is harmful to health and the environment.

Keywords: zeolite A, zeolite X, ion exchange, water treatment

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Authors: Luyao Liu, Dekui Yuan, Xu Li

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As one of the most important bays of China, the water exchange capacity of Bohai Bay can influence the economic development and urbanization of surrounding cities. However, the rapid reclamation has influenced the weak water exchange capacity of this semi-enclosed bay in recent years. This paper sets two hydrodynamic models of Bohai Bay with two shorelines before and after reclamation. The mean value and distribution of Turn-over Time, the distribution of residual current, and the feature of the tracer path are compared. After comparison, it is found that Bohai Bay keeps these characteristics; the spending time of water exchange in the northern is longer than southern, and inshore is longer than offshore. However, the mean water exchange time becomes longer after reclamation. In addition, the material spreading is blocked because of the inwardly extending shorelines, and the direction changed from along the shoreline to towards the center after reclamation.

Keywords: Bohai Bay, water exchange, reclamation, turn-over time

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Authors: Tabassum Riaz

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This study provides a complete examination of the stock prices behavior in the Karachi stock exchange. It examines that whether Karachi stock exchange can be described as mean reversion or not. For this purpose daily, weekly and monthly index data from Karachi stock exchange ranging from period July 1, 1997 to July 2, 2011 was taken. After employing the Multiple variance ratio and unit root tests it is concluded that stock market follow mean reversion behavior and hence have reverting trend which opens the door for the active invest management. Thus technical analysis may be help to identify the potential areas for value creation.

Keywords: mean reversion, random walk, technical analysis, Karachi stock exchange

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Authors: Mourad Zmami Oussema BenSalha

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The current research aims to assess empirically the reaction of private investment to exchange rate fluctuations in Tunisia using a sample of 548 firms operating in manufacturing industries between 1997 and 2002. The micro-econometric model we estimate is based on an accelerator-profit specification investment model increased by two variables that measure the variation and the volatility of exchange rates. Estimates using the system the GMM method reveal that the effects of the exchange rate depreciation on investment are negative since it increases the cost of imported capital goods. Turning to the exchange rate volatility, as measured by the GARCH (1,1) model, our findings assign a significant role to the exchange rate uncertainty in explaining the sluggishness of private investment in Tunisia in the full sample of firms. Other estimation attempts based on various sub samples indicate that the elasticities of investment relative to the exchange rate volatility depend upon many firms’ specific characteristics such as the size and the ownership structure.

Keywords: investment, exchange rate volatility, manufacturing firms, system GMM, Tunisia

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Authors: Zahid Ahmad, Nosheen Imran, Nauman Ali, Farah Amir

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The objective of the study is to forecast the US Dollar and Pak Rupee exchange rate by using time series models. For this purpose, daily exchange rates of US and Pakistan for the period of January 01, 2007 - June 2, 2017, are employed. The data set is divided into in sample and out of sample data set where in-sample data are used to estimate as well as forecast the models, whereas out-of-sample data set is exercised to forecast the exchange rate. The ADF test and PP test are used to make the time series stationary. To forecast the exchange rate ARIMA model and GARCH model are applied. Among the different Autoregressive Integrated Moving Average (ARIMA) models best model is selected on the basis of selection criteria. Due to the volatility clustering and ARCH effect the GARCH (1, 1) is also applied. Results of analysis showed that ARIMA (0, 1, 1 ) and GARCH (1, 1) are the most suitable models to forecast the future exchange rate. Further the GARCH (1,1) model provided the volatility with non-constant conditional variance in the exchange rate with good forecasting performance. This study is very useful for researchers, policymakers, and businesses for making decisions through accurate and timely forecasting of the exchange rate and helps them in devising their policies.

Keywords: exchange rate, ARIMA, GARCH, PAK/USD

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Authors: Siphat Lim

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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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Authors: Wong Hock Tsen

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This study aims to investigate the impact of exchange rate volatility on real export in Malaysia. The moving standard deviation with order three (MSD(3)) is used for the measurement of exchange rate volatility. The conventional and partially asymmetric autoregressive distributed lag (ARDL) models are used in the estimations. This study finds exchange rate volatility to have significant impact on real total export and some sub-categories of real total export. Moreover, this study finds that the positive or negative exchange rate volatility tends to have positive or negative impact on real export. Exchange rate volatility can be harmful to export of Malaysia.

Keywords: exchange rate volatility, autoregressive distributed lag, export, Malaysia

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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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Authors: Guillaume Craveur

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The evaluation of the passenger exchange time is necessary for railway operators in order to optimize and dimension rail traffic. Several influential parameters are identified and studied. Each parameter leads to a modeling completed with the buildingEXODUS software. The objective is the modelling of passenger exchanges measured by passenger counting. Population size is dimensioned using passenger counting files which are a report of the train service and contain following useful informations: number of passengers who get on and leave the train, exchange time. These information are collected by sensors placed at the top of each train door. With passenger counting files it is possible to know how many people are engaged in the exchange and how long is the exchange, but it is not possible to know passenger flow of the door. All the information about observed exchanges are thus not available. For this reason and in order to minimize inaccuracies, only short exchanges (less than 30 seconds) with a maximum of people are performed.

Keywords: passengers exchange, numerical tools, rolling stock, platforms

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Authors: Rajan Goyal, S. Lamba, S. Annapoorni

Abstract:

The indirect exchange coupled system consists of two ferromagnetic layers separated by non-magnetic spacer layer. The type of exchange coupling may be either ferro or anti-ferro depending on the thickness of the spacer layer. In the present work, the strength of exchange coupling in FePt/Al₂O₃/Fe₃Pt has been investigated by varying the thickness of the spacer layer Al₂O₃. The FePt/Al₂O₃/Fe₃Pt trilayer structure is fabricated on Si <100> single crystal substrate using sputtering technique. The thickness of FePt and Fe₃Pt is fixed at 60 nm and 2 nm respectively. The thickness of spacer layer Al₂O₃ was varied from 0 to 16 nm. The normalized hysteresis loops recorded at room temperature both in the in-plane and out of plane configuration reveals that the orientation of easy axis lies along the plane of the film. It is observed that the hysteresis loop for ts=0 nm does not exhibit any knee around H=0 indicating that the hard FePt layer and soft Fe₃Pt layer are strongly exchange coupled. However, the insertion of Al₂O₃ spacer layer of thickness ts = 0.7 nm results in appearance of a minor knee around H=0 suggesting the weakening of exchange coupling between FePt and Fe₃Pt. The disappearance of knee in hysteresis loop with further increase in thickness of the spacer layer up to 8 nm predicts the co-existence of ferromagnetic (FM) and antiferromagnetic (AFM) exchange interaction between FePt and Fe₃Pt. In addition to this, the out of plane hysteresis loop also shows an asymmetry around H=0. The exchange field Hex = (Hc↑-HC↓)/2, where Hc↑ and Hc↓ are the coercivity estimated from lower and upper branch of hysteresis loop, increases from ~ 150 Oe to ~ 700 Oe respectively. This behavior may be attributed to the uncompensated moments in the hard FePt layer and soft Fe₃Pt layer at the interface. A better insight into the variation in indirect exchange coupling has been investigated using recoil curves. It is observed that the almost closed recoil curves are obtained for ts= 0 nm up to a reverse field of ~ 5 kOe. On the other hand, the appearance of appreciable open recoil curves at lower reverse field ~ 4 kOe for ts = 0.7 nm indicates that uncoupled soft phase undergoes irreversible magnetization reversal at lower reverse field suggesting the weakening of exchange coupling. The openness of recoil curves decreases with increase in thickness of the spacer layer up to 8 nm. This behavior may be attributed to the competition between FM and AFM exchange interactions. The FM exchange coupling between FePt and Fe₃Pt due to porous nature of Al₂O₃ decreases much slower than the weak AFM coupling due to interaction between Fe ions of FePt and Fe₃Pt via O ions of Al₂O₃. The hysteresis loop has been simulated using Monte Carlo based on Metropolis algorithm to investigate the variation in strength of exchange coupling in FePt/Al₂O₃/Fe₃Pt trilayer system.

Keywords: indirect exchange coupling, MH loop, Monte Carlo simulation, recoil curve

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