Search results for: Parameter estimation.
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2018

Search results for: Parameter estimation.

968 Absorption Center of Photophoresis with in Micro-Sized and Spheroidal Particles in a Gaseous Medium

Authors: Wen-Ken Li, Pei-Yuan Tzeng, Chyi-Yeou Soong, Chung-Ho Liu

Abstract:

The present study is concerned with the absorption center of photophoresis within a micro-sized and spheroidal particle in a gaseous medium. A particle subjected to an intense light beam can absorb electromagnetic energy within the particle unevenly, which results in photophoretic force to drive the particle in motion. By evaluating the energy distribution systematically at various conditions, the study focuses on the effects of governing parameters, such as particle aspect ratio, size parameter, refractivity, and absorptivity, on the heat source function within the particle and their potential influences to the photophoresis.

Keywords: photophoresis, spheroidal particle, aspect ratio, refractivity, absorptivity, heat source function

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967 A New Block-based NLMS Algorithm and Its Realization in Block Floating Point Format

Authors: Abhijit Mitra

Abstract:

we propose a new normalized LMS (NLMS) algorithm, which gives satisfactory performance in certain applications in comaprison with con-ventional NLMS recursion. This new algorithm can be treated as a block based simplification of NLMS algorithm with significantly reduced number of multi¬ply and accumulate as well as division operations. It is also shown that such a recursion can be easily implemented in block floating point (BFP) arithmetic, treating the implementational issues much efficiently. In particular, the core challenges of a BFP realization to such adaptive filters are mainly considered in this regard. A global upper bound on the step size control parameter of the new algorithm due to BFP implementation is also proposed to prevent overflow in filtering as well as weight updating operations jointly.

Keywords: Adaptive algorithm, Block floating point arithmetic, Implementation issues, Normalized least mean square methods

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966 Power MOSFET Models Including Quasi-Saturation Effect

Authors: Abdelghafour Galadi

Abstract:

In this paper, accurate power MOSFET models including quasi-saturation effect are presented. These models have no internal node voltages determined by the circuit simulator and use one JFET or one depletion mode MOSFET transistors controlled by an “effective” gate voltage taking into account the quasi-saturation effect. The proposed models achieve accurate simulation results with an average error percentage less than 9%, which is an improvement of 21 percentage points compared to the commonly used standard power MOSFET model. In addition, the models can be integrated in any available commercial circuit simulators by using their analytical equations. A description of the models will be provided along with the parameter extraction procedure.

Keywords: Power MOSFET, drift layer, quasi-saturation effect, SPICE model, circuit simulation.

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965 Induction Motor Analysis Using LabVIEW

Authors: E. Ramprasath, P. Manojkumar, P. Veena

Abstract:

Proposed paper dealt with the modelling and analysis of induction motor based on the mathematical expression using the graphical programming environment of Laboratory Virtual Instrument Engineering Workbench (LabVIEW). Induction motor modelling with the mathematical expression enables the motor to be simulated with the various required parameters. Owing to the invention of variable speed drives study about the induction motor characteristics became complex. In this simulation motor internal parameter such as stator resistance and reactance, rotor resistance and reactance, phase voltage, frequency and losses will be given as input. By varying the speed of motor corresponding parameters can be obtained they are input power, output power, efficiency, torque induced, slip and current.

Keywords: Induction motor, LabVIEW software, modelling and analysis, electrical and mechanical characteristics of motor.

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964 Automatic Threshold Search for Heat Map Based Feature Selection: A Cancer Dataset Analysis

Authors: Carlos Huertas, Reyes Juarez-Ramirez

Abstract:

Public health is one of the most critical issues today; therefore, there is great interest to improve technologies in the area of diseases detection. With machine learning and feature selection, it has been possible to aid the diagnosis of several diseases such as cancer. In this work, we present an extension to the Heat Map Based Feature Selection algorithm, this modification allows automatic threshold parameter selection that helps to improve the generalization performance of high dimensional data such as mass spectrometry. We have performed a comparison analysis using multiple cancer datasets and compare against the well known Recursive Feature Elimination algorithm and our original proposal, the results show improved classification performance that is very competitive against current techniques.

Keywords: Feature selection, mass spectrometry, biomarker discovery, cancer.

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963 Detecting the Capacity Reserve in an Overhead Line

Authors: S. Berjozkina, A. Sauhats, V. Bargels, E. Vanzovichs

Abstract:

There are various solutions for improving existing overhead line systems with the general purpose of increasing their limited capacity. The capacity reserve of the existing overhead lines is an important problem that must be considered from different aspects. The paper contains a comparative analysis of the mechanical and thermal limitations of an existing overhead line based on certain calculation conditions characterizing the examined variants. The methodology of the proposed estimation of the permissible conductor temperature and maximum load current is described in detail. The transmission line model consists of specific information of an existing overhead line of the Latvian power network. The main purpose of the simulation tasks is to find an additional capacity reserve by using accurate mathematical models. The results of the obtained data are presented.

Keywords: capacity of an overhead line, mechanical conditions, permissible conductor temperature, thermal conditions.

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962 Using a Trust-Based Environment Key for Mobile Agent Code Protection

Authors: Salima Hacini, Zahia Guessoum, Zizette Boufaïda

Abstract:

Human activities are increasingly based on the use of remote resources and services, and on the interaction between remotely located parties that may know little about each other. Mobile agents must be prepared to execute on different hosts with various environmental security conditions. The aim of this paper is to propose a trust based mechanism to improve the security of mobile agents and allow their execution in various environments. Thus, an adaptive trust mechanism is proposed. It is based on the dynamic interaction between the agent and the environment. Information collected during the interaction enables generation of an environment key. This key informs on the host-s trust degree and permits the mobile agent to adapt its execution. Trust estimation is based on concrete parameters values. Thus, in case of distrust, the source of problem can be located and a mobile agent appropriate behavior can be selected.

Keywords: Internet security, malicious host, mobile agent security, trust management

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961 Estimating 3D-Position of A Stationary Random Acoustic Source Using Bispectral Analysis of 4-Point Detected Signals

Authors: Katsumi Hirata

Abstract:

To develop the useful acoustic environmental recognition system, the method of estimating 3D-position of a stationary random acoustic source using bispectral analysis of 4-point detected signals is proposed. The method uses information about amplitude attenuation and propagation delay extracted from amplitude ratios and angles of auto- and cross-bispectra of the detected signals. It is expected that using bispectral analysis affects less influence of Gaussian noises than using conventional power spectral one. In this paper, the basic principle of the method is mentioned first, and its validity and features are considered from results of the fundamental experiments assumed ideal circumstances.

Keywords: 4-point detection, a stationary random acoustic source, auto- and cross-bispectra, estimation of 3D-position.

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960 Stochastic Scheduling to Minimize Expected Lateness in Multiple Identical Machines

Authors: Ghulam Zakria, Zailin Guan , Yasser Riaz Awan, Wan Lizhi

Abstract:

There are many real world problems in which parameters like the arrival time of new jobs, failure of resources, and completion time of jobs change continuously. This paper tackles the problem of scheduling jobs with random due dates on multiple identical machines in a stochastic environment. First to assign jobs to different machine centers LPT scheduling methods have been used, after that the particular sequence of jobs to be processed on the machine have been found using simple stochastic techniques. The performance parameter under consideration has been the maximum lateness concerning the stochastic due dates which are independent and exponentially distributed. At the end a relevant problem has been solved using the techniques in the paper..

Keywords: Quantity Production Flow Shop, LPT Scheduling, Stochastic Scheduling, Maximum Lateness, Random Due Dates

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959 Study of the Sloshing Phenomenon in a Tank Filled Partially with Liquid Using CFD Simulation

Authors: Amit Kumar, Jaikumar V., Pradeep A. G., Shivakumar Bhavi

Abstract:

Reducing sloshing is one of the major challenges in industries where transporting of liquid is involved. The present study investigates the sloshing effect for different liquid levels of 50% of the tank capacity. CFD simulation for two different baffle configurations has been carried out using a time-based multiphase Volume of fluid (VOF) scheme. Baffles were introduced to examine the sloshing effect inside the tank. Results were compared against the baseline case to assess the effectiveness of baffles; maximum liquid height over the period of the simulation was considered as the parameter for measuring the sloshing effect inside the tank. It was found that the addition of baffles reduced the sloshing effect inside the tank as compared to the baseline model.

Keywords: 3D effect of sloshing, multiphase volume of fluid, CFD, baffles

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958 Mathematical Properties of the Viscous Rotating Stratified Fluid Counting with Salinity and Heat Transfer in a Layer

Authors: A. Giniatoulline

Abstract:

A model of the mathematical fluid dynamics which describes the motion of a three-dimensional viscous rotating fluid in a homogeneous gravitational field with the consideration of the salinity and heat transfer is considered in a vertical finite layer. The model is a generalization of the linearized Navier-Stokes system with the addition of the Coriolis parameter and the equations for changeable density, salinity, and heat transfer. An explicit solution is constructed and the proof of the existence and uniqueness theorems is given. The localization and the structure of the spectrum of inner waves is also investigated. The results may be used, in particular, for constructing stable numerical algorithms for solutions of the considered models of fluid dynamics of the Atmosphere and the Ocean.

Keywords: Fourier transform, generalized solutions, Navier-Stokes equations, stratified fluid.

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957 CMOS Solid-State Nanopore DNA System-Level Sequencing Techniques Enhancement

Authors: Syed Islam, Yiyun Huang, Sebastian Magierowski, Ebrahim Ghafar-Zadeh

Abstract:

This paper presents system level CMOS solid-state nanopore techniques enhancement for speedup next generation molecular recording and high throughput channels. This discussion also considers optimum number of base-pair (bp) measurements through channel as an important role to enhance potential read accuracy. Effective power consumption estimation offered suitable range of multi-channel configuration. Nanopore bp extraction model in statistical method could contribute higher read accuracy with longer read-length (200 < read-length). Nanopore ionic current switching with Time Multiplexing (TM) based multichannel readout system contributed hardware savings.

Keywords: DNA, Nanopore, Amplifier, ADC, Multichannel.

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956 Facial Recognition on the Basis of Facial Fragments

Authors: Tetyana Baydyk, Ernst Kussul, Sandra Bonilla Meza

Abstract:

There are many articles that attempt to establish the role of different facial fragments in face recognition. Various approaches are used to estimate this role. Frequently, authors calculate the entropy corresponding to the fragment. This approach can only give approximate estimation. In this paper, we propose to use a more direct measure of the importance of different fragments for face recognition. We propose to select a recognition method and a face database and experimentally investigate the recognition rate using different fragments of faces. We present two such experiments in the paper. We selected the PCNC neural classifier as a method for face recognition and parts of the LFW (Labeled Faces in the Wild) face database as training and testing sets. The recognition rate of the best experiment is comparable with the recognition rate obtained using the whole face.

Keywords: Face recognition, Labeled Faces in the Wild (LFW) database, Random Local Descriptor (RLD), random features.

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955 Video-Based System for Support of Robot-Enhanced Gait Rehabilitation of Stroke Patients

Authors: Matjaž Divjak, Simon Zelič, Aleš Holobar

Abstract:

We present a dedicated video-based monitoring system for quantification of patient’s attention to visual feedback during robot assisted gait rehabilitation. Two different approaches for eye gaze and head pose tracking are tested and compared. Several metrics for assessment of patient’s attention are also presented. Experimental results with healthy volunteers demonstrate that unobtrusive video-based gaze tracking during the robot-assisted gait rehabilitation is possible and is sufficiently robust for quantification of patient’s attention and assessment of compliance with the rehabilitation therapy.

Keywords: Video-based attention monitoring, gaze estimation, stroke rehabilitation, user compliance.

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954 Quasilinearization–Barycentric Approach for Numerical Investigation of the Boundary Value Fin Problem

Authors: Alireza Rezaei, Fatemeh Baharifard, Kourosh Parand

Abstract:

In this paper we improve the quasilinearization method by barycentric Lagrange interpolation because of its numerical stability and computation speed to achieve a stable semi analytical solution. Then we applied the improved method for solving the Fin problem which is a nonlinear equation that occurs in the heat transferring. In the quasilinearization approach the nonlinear differential equation is treated by approximating the nonlinear terms by a sequence of linear expressions. The modified QLM is iterative but not perturbative and gives stable semi analytical solutions to nonlinear problems without depending on the existence of a smallness parameter. Comparison with some numerical solutions shows that the present solution is applicable.

Keywords: Quasilinearization method, Barycentric lagrange interpolation, nonlinear ODE, fin problem, heat transfer.

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953 Estimating Regression Parameters in Linear Regression Model with a Censored Response Variable

Authors: Jesus Orbe, Vicente Nunez-Anton

Abstract:

In this work we study the effect of several covariates X on a censored response variable T with unknown probability distribution. In this context, most of the studies in the literature can be located in two possible general classes of regression models: models that study the effect the covariates have on the hazard function; and models that study the effect the covariates have on the censored response variable. Proposals in this paper are in the second class of models and, more specifically, on least squares based model approach. Thus, using the bootstrap estimate of the bias, we try to improve the estimation of the regression parameters by reducing their bias, for small sample sizes. Simulation results presented in the paper show that, for reasonable sample sizes and censoring levels, the bias is always smaller for the new proposals.

Keywords: Censored response variable, regression, bias.

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952 Study of the Effect of Inclusion of TiO2 in Active Flux on Submerged Arc Welding of Low Carbon Mild Steel Plate and Parametric Optimization of the Process by Using DEA Based Bat Algorithm

Authors: Sheetal Kumar Parwar, J. Deb Barma, A. Majumder

Abstract:

Submerged arc welding is a very complex process. It is a very efficient and high performance welding process. In this present study an attempt have been done to reduce the welding distortion by increased amount of oxide flux through TiO2 in submerged arc welding process. Care has been taken to avoid the excessiveness of the adding agent for attainment of significant results. Data Envelopment Analysis (DEA) based BAT algorithm is used for the parametric optimization purpose in which DEA is used to convert multi response parameters into a single response parameter. The present study also helps to know the effectiveness of the addition of TiO2 in active flux during submerged arc welding process.

Keywords: BAT algorithm, design of experiment, optimization, submerged arc welding.

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951 Explicit Delay and Power Estimation Method for CMOS Inverter Driving on-Chip RLC Interconnect Load

Authors: Susmita Sahoo, Madhumanti Datta, Rajib Kar

Abstract:

The resistive-inductive-capacitive behavior of long interconnects which are driven by CMOS gates are presented in this paper. The analysis is based on the ¤Ç-model of a RLC load and is developed for submicron devices. Accurate and analytical expressions for the output load voltage, the propagation delay and the short circuit power dissipation have been proposed after solving a system of differential equations which accurately describe the behavior of the circuit. The effect of coupling capacitance between input and output and the short circuit current on these performance parameters are also incorporated in the proposed model. The estimated proposed delay and short circuit power dissipation are in very good agreement with the SPICE simulation with average relative error less than 6%.

Keywords: Delay, Inverter, Short Circuit Power, ¤Ç-Model, RLCInterconnect, VLSI

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950 Evaluation of Chlorophyll Content and Chlorophyll Fluorescence Parameters and Relationships between Chlorophyll a, b and Chlorophyll Content Index under Water Stress in Olea europaea cv. Dezful

Authors: E. Khaleghi, K. Arzani, N. Moallemi, M. Barzegar

Abstract:

This study was conducted to determine effect of water stress on chlorophyll content and chlorophyll fluorescence parameter in young `Dezful- olive trees. Three irrigation regimes (40% ETcrop, 65% ETcrop and 100% ETcrop) were used. After irrigation treatments were applied, some of biochemical parameters including chlorophyll a, b, total chlorophyll, chlorophyll fluorescence and also chlorophyll content index (C.C.I) were measured. Results of Analysis of variance showed that irrigation treatments had significant effect on chlorophylla, total chlorophyll (chl a+b), C.C.I and Fv/Fm ratio. The amount of decreased chlorophyll a and total chlorophyll in plants were received 40% ETcrop were 51.55% and 46.86%, respectively, compared with 100% ETcrop.

Keywords: Evatarnspiration (ETcrop), Chlorophyll Content, Chlorophyll Fluorescence, Water stress, Olive

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949 Enhanced Weighted Centroid Localization Algorithm for Indoor Environments

Authors: I. Nižetić Kosović, T. Jagušt

Abstract:

Lately, with the increasing number of location-based applications, demand for highly accurate and reliable indoor localization became urgent. This is a challenging problem, due to the measurement variance which is the consequence of various factors like obstacles, equipment properties and environmental changes in complex nature of indoor environments. In this paper we propose low-cost custom-setup infrastructure solution and localization algorithm based on the Weighted Centroid Localization (WCL) method. Localization accuracy is increased by several enhancements: calibration of RSSI values gained from wireless nodes, repetitive measurements of RSSI to exclude deviating values from the position estimation, and by considering orientation of the device according to the wireless nodes. We conducted several experiments to evaluate the proposed algorithm. High accuracy of ~1m was achieved.

Keywords: Indoor environment, received signal strength indicator, weighted centroid localization, wireless localization.

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948 Impact of the Operation and Infrastructure Parameters to the Railway Track Capacity

Authors: Martin Kendra, Jaroslav Mašek, Juraj Čamaj, Matej Babin

Abstract:

The railway transport is considered as a one of the most environmentally friendly mode of transport. With future prediction of increasing of freight transport there are lines facing problems with demanded capacity. Increase of the track capacity could be achieved by infrastructure constructive adjustments. The contribution shows how the travel time can be minimized and the track capacity increased by changing some of the basic infrastructure and operation parameters, for example, the minimal curve radius of the track, the number of tracks, or the usable track length at stations. Calculation of the necessary parameter changes is based on the fundamental physical laws applied to the train movement, and calculation of the occupation time is dependent on the changes of controlling the traffic between the stations.

Keywords: Curve radius, maximum curve speed, track mass capacity, reconstruction.

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947 Investigation of Effective Parameters on Annealing and Hot Spotting Processes for Straightening of Bent Turbine Rotors

Authors: Esmaeil Poursaeidi, Mostafa Kamalzadeh Yazdi, Mohammadreza Mohammadi Arhani1

Abstract:

The most severe damage of the turbine rotor is its distortion. The rotor straightening process must lead, at the first stage, to removal of the stresses from the material by annealing and next, to straightening of the plastic distortion without leaving any stress by hot spotting. The straightening method does not produce stress accumulations and the heating technique, developed specifically for solid forged rotors and disks, enables to avoid local overheating and structural changes in the material. This process also does not leave stresses in the shaft material. An experimental study of hot spotting is carried out on a large turbine rotor and some of the most important effective parameters that must be considered on annealing and hot spotting processes are investigated in this paper.

Keywords: Annealing, Hot Spotting, Effective Parameter, Rotor

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946 Photocatalytic Degradation of Produced Water Hydrocarbon of an Oil Field by Using Ag-Doped TiO2 Nanoparticles

Authors: Hamed Bazrafshan, Saeideh Dabirnia, Zahra Alipour Tesieh, Samaneh Alavi, Bahram Dabir

Abstract:

In this study, the removal of pollutants of a real produced water sample from an oil reservoir (a light oil reservoir), using a photocatalytic degradation process in a cylindrical glass reactor, was investigated. Using TiO2 and Ag-TiO2 in slurry form, the photocatalytic degradation was studied by measuring the Chemical Oxygen Demand (COD) parameter, qualitative analysis, and GC-MS. At first, optimization of the parameters on photocatalytic degradation of hydrocarbon pollutants in real produced water, using TiO2 nanoparticles as photocatalysts under UV light, was carried out applying response surface methodology. The results of the design of the experiment showed that the optimum conditions were at a catalyst concentration of 1.14 g/lit and pH of 2.67, and the percentage of COD removal was 72.65%.

Keywords: Photocatalyst, Ag-doped, TiO2, produced water, nanoparticles.

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945 Failure Criterion for Mixed Mode Fracture of Cracked Wood Specimens

Authors: Mahdi Fakoor, Seyed Mohammad Navid Ghoreishi

Abstract:

Investigation of fracture of wood components can prevent from catastrophic failures. Created fracture process zone (FPZ) in crack tip vicinity has important effect on failure of cracked composite materials. In this paper, a failure criterion for fracture investigation of cracked wood specimens under mixed mode I/II loading is presented. This criterion is based on maximum strain energy release rate and material nonlinearity in the vicinity of crack tip due to presence of microcracks. Verification of results with available experimental data proves the coincidence of the proposed criterion with the nature of fracture of wood. To simplify the estimation of nonlinear properties of FPZ, a damage factor is also introduced for engineering and application purposes.

Keywords: Fracture criterion, mixed mode loading, damage zone, microcracks.

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944 Neural Network Imputation in Complex Survey Design

Authors: Safaa R. Amer

Abstract:

Missing data yields many analysis challenges. In case of complex survey design, in addition to dealing with missing data, researchers need to account for the sampling design to achieve useful inferences. Methods for incorporating sampling weights in neural network imputation were investigated to account for complex survey designs. An estimate of variance to account for the imputation uncertainty as well as the sampling design using neural networks will be provided. A simulation study was conducted to compare estimation results based on complete case analysis, multiple imputation using a Markov Chain Monte Carlo, and neural network imputation. Furthermore, a public-use dataset was used as an example to illustrate neural networks imputation under a complex survey design

Keywords: Complex survey, estimate, imputation, neural networks, variance.

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943 Analyzing and Comparing the Hot-spot Thermal Models of HV/LV Prefabricated and Outdoor Oil-Immersed Power Transformers

Authors: Ali Mamizadeh, Ires Iskender

Abstract:

The most important parameter in transformers life expectancy is the hot-spot temperature level which accelerates the rate of aging of the insulation. The aim of this paper is to present thermal models for transformers loaded at prefabricated MV/LV transformer substations and outdoor situations. The hot-spot temperature of transformers is studied using their top-oil temperature rise models. The thermal models proposed for hot-spot and top-oil temperatures of different operating situations are compared. Since the thermal transfer is different for indoor and outdoor transformers considering their operating conditions, their hot-spot thermal models differ from each other. The proposed thermal models are verified by the results obtained from the experiments carried out on a typical 1600 kVA, 30 /0.4 kV, ONAN transformer for both indoor and outdoor situations.

Keywords: Hot-spot Temperature, Dynamic Thermal Model, MV/LV Prefabricated, Oil Immersed Transformers

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942 Modeling of Catalyst Deactivation in Catalytic Wet Air Oxidation of Phenol in Fixed Bed Three-Phase Reactor

Authors: Akram Golestani, Mohammad Kazemeini, Farhad Khorasheh, Moslem Fattahi

Abstract:

Modeling and simulation of fixed bed three-phase catalytic reactors are considered for wet air catalytic oxidation of phenol to perform a comparative numerical analysis between tricklebed and packed-bubble column reactors. The modeling involves material balances both for the catalyst particle as well as for different fluid phases. Catalyst deactivation is also considered in a transient reactor model to investigate the effects of various parameters including reactor temperature on catalyst deactivation. The simulation results indicated that packed-bubble columns were slightly superior in performance than trickle beds. It was also found that reaction temperature was the most effective parameter in catalyst deactivation.

Keywords: Catalyst deactivation, Catalytic wet air oxidation, Trickle-bed, Wastewater.

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941 State-Space PD Feedback Control

Authors: John Florescu

Abstract:

A challenged control problem is when the performance is pushed to the limit. The state-derivative feedback control strategy directly uses acceleration information for feedback and state estimation. The derivative part is concerned with the rateof- change of the error with time. If the measured variable approaches the set point rapidly, then the actuator is backed off early to allow it to coast to the required level. Derivative action makes a control system behave much more intelligently. A sensor measures the variable to be controlled and the measured in formation is fed back to the controller to influence the controlled variable. A high gain problem can be also formulated for proportional plus derivative feedback transformation. Using MATLAB Simulink dynamic simulation tool this paper examines a system with a proportional plus derivative feedback and presents an automatic implementation of finding an acceptable controlled system. Using feedback transformations the system is transformed into another system.

Keywords: Feedback, PD, state-space, derivative.

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940 Dimensioning of Subsynchronous Cascade for Speed Regulation of Two-Motors 6kv Conveyer Drives

Authors: M. Kasumović, A. Hodžić, M. Tešanović

Abstract:

One way for optimum loading of overdimensioning conveyers is speed (capacity) decrement, with attention for production capabilities and demands. At conveyers which drives with three phase slip-ring induction motor, technically reasonable solution for conveyer (driving motors) speed regulation is using constant torque subsynchronous cascade with static semiconductor converter and transformer for energy reversion to the power network. In the paper is described mathematical model for parameter calculation of two-motors 6 kV subsynchronous cascade. It is also demonstrated that applying of this cascade gave several good properties, foremost in electrical energy saving, also in improving of other energy indexes, and finally that results in cost reduction of complete electrical motor drive.

Keywords: Conveyer with rubber belt, electrical motor drive, sub synchronous cascade

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939 Testing the Validity of Feldstein-Horioka Puzzle in BRICS Countries

Authors: Teboho J. Mosikari, Johannes T. Tsoku, Diteboho L. Xaba

Abstract:

The increase of capital mobility across emerging economies has become an interesting topic for many economic policy makers. The current study tests the validity of Feldstein–Horioka puzzle for 5 BRICS countries. The sample period of the study runs from 2001 to 2014. The study uses the following parameter estimates well known as the Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS). The results of the study show that investment and savings are cointegrated in the long run. The parameters estimated using FMOLS and DOLS are 0.85 and 0.74, respectively. These results imply that policy makers within BRICS countries have to consider flexible monetary and fiscal policy instruments to influence the mobility of capital with the bloc.

Keywords: Feldstein and Horioka puzzle, saving and investment, panel models, BRICS countries.

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