Equilibrium exchange rates in the transition: The tradable price-based real appreciation and estimation uncertainty

This paper sets out to estimate equilibrium real exchange rates for the Czech Republic, Hungary, Poland, Slovakia and Slovenia. A theoretical model is developed that provides an explanation for the appreciation of the real exchange rate based on tradable prices in the acceding countries. Our model can be considered as a competing but also completing framework to the traditional Balassa-Samuelson model. With this as a background, alternative cointegration methods are applied to time series (Engle-Granger, DOLS, ARDL and Johansen) and to three small-size panels (pooled and fixed effect OLS, DOLS, PMGE and MGE), which leaves us with around 5,000 estimated regressions. This enables us to examine the uncertainty surrounding estimates of equilibrium real exchange rates and the size of the underlying real misalignments.real exchange rate; equilibrium exchange rate; tradable prices; transition; cointegration

A Model Explaining Social and Political Change of Party-states Structural and Dynamic Background of Similarities and Differences in Reproduction, reforms, Collapse and Transformation

I shall argue that the Interactive Party-State (IPS) model (Csanádi, 1997) allows us to place the Chinese and Hungarian party-state structure and dynamics into a common framework. This framework sheds light on the structural reasons behind the different functional effects of reforms. This paper is divided into three major parts. In the first section I summarize the structural and dynamic properties of the IPS model. This is followed by arguments raised regarding its general nature, and consequently, the applicability of the model to China based on common structural and operational grounds. Finally, I will reveal that behind the robust common ground, the different structural specifics may give rise to the divergent development paths. The primary focus is theoretical, with empirical examples provided. Consistent empirical analysis based on the model will be a following undertaking.

ROLE OF THE ARTS IN ECONOMIC DEVELOPMENT IN HAMPDEN, BALTMORE, MARYLAND

The role of the arts within economic development is increasing as many cities attempt to replicate the success of the SoHo district in New York City. The SoHo paradigm is based on utilization of artists as sanitizing agents of former industrial districts in preparation for gentrification. This study examines SoHo and other case studies in which the arts are key components in redevelopment initiatives. The case studies are compared to the economic revitalization of the Hampden community in Baltimore City. The hypothesis states that an influx of artists and art-related businesses into Hampden was a catalyst for the current economic revitalization and that this clustering of artists and arts-related businesses indicates an economy of agglomeration. Data was collected through surveys, interviews, and secondary resources. The surveys were designed to collect data that would indicate why artists and business people settled in Hampden; whether a trend was occurring ; whether the location was beneficial to art careers or businesses; and if they perceived the arts as having a significant impact on Hampden. Results of the research indicate that a significant link exists between artists and the economic activity in Hampden; an agglomeration economy is implied, but not confirmed; and that the arts and economic development models employed by the Hampden community may represent a new combination of the models previously employed

University of Montana Report of the President 1951-1952

An annual report of the activities of the University, published by University of Montana Office of the President and submitted to the Montana State Board of Education.https://scholarworks.umt.edu/presidentsreports_asc/1056/thumbnail.jp

Improving the performance of railway track-switching through the introduction of fault tolerance

In the future, the performance of the railway system must be improved to accommodate increasing passenger volumes and service quality demands. Track switches are a vital part of the rail infrastructure, enabling traffic to take different routes. All modern switch designs have evolved from a design first patented in 1832. However, switches present single points of failure, require frequent and costly maintenance interventions, and restrict network capacity. Fault tolerance is the practice of preventing subsystem faults propagating to whole-system failures. Existing switches are not considered fault tolerant. This thesis describes the development and potential performance of fault-tolerant railway track switching solutions. The work first presents a requirements definition and evaluation framework which can be used to select candidate designs from a range of novel switching solutions. A candidate design with the potential to exceed the performance of existing designs is selected. This design is then modelled to ascertain its practical feasibility alongside potential reliability, availability, maintainability and capacity performance. The design and construction of a laboratory scale demonstrator of the design is described. The modelling results show that the performance of the fault tolerant design may exceed that of traditional switches. Reliability and availability performance increases significantly, whilst capacity gains are present but more marginal without the associated relaxation of rules regarding junction control. However, the work also identifies significant areas of future work before such an approach could be adopted in practice

Information service problems in the less developed countries with special reference to Libya.

The literature on in-formation availability and services in the Less Developed Countries (LDCs) shows that information services in most, if not all, of these countries suffer from many problems such as the shortage of resources ajnd the scarcity of skilled and trained personnel in information and computer disciplines. Libya as one of these nations is no exception; planners and decision makers in Libya not only suffer from the non_avai1abi1ity of data needed for planning and decisionmaking, but defects such as poor and unreliable data are commonly experienced. However, literature on information services in the LDCs is quite limited. Most of the available sources result from individual research initiative; coordinated efforts are rare and comparative reviews in different LDCs do not exist. The available literature covers only some of the LDCs; many information service problems in the LDCs may not have been identified. In addition, it is extremely likely that the countries not yet researched will have location specific information service problems. Due to the absence of comprehensive research in the information services sector, information problems in Libya have not been identified. Accordingly, the objective of this study is to explore the information service's problems in Libya, and to draw some solutions to these problems. Since the mid-seventies, a socio-economic system has dominated economic, life in Libya. Accordingly, during the last decade all domestic organizations and establishments are owned by the public sector. Therefore, the primary sources of the required data of this study are limited to the users of manpower data from the public sector in the country. The findings of this study revealed that the information services sector in Libya not only suffers from many similar problems which handicap the same services in many other less developed countries, but is also impaired by some other unique problems which, so far, have not been recognized as problems in any other LDCs. The low priority and the delay of information services sector development, and the lack of utilization of the available computer facilities are examples of these unique problems. Factors such as the shortages of resources and the lack of recognition of information importance to development by high authority personnel in many LDCs are considered as major obstacles to the information services in these countries. However, in Libya, as this study found, such factors do not cause any serious problems. With respect to the present conditions of the information services sector in Libya, and the problems that this sector faces, the establishment of a new national body for the reorganization and the development of the Country' s information services network is needed

The role of the gulf cooperation council in the economic development of the Gulf States

As a regional organisation, the Gulf Cooperation Council is a somewhat unique experiment in the contemporary Middle East and in the Arab world in particular. It is the first regional organisation in the modern Arab nation-state system, aside from the Arab League, formed in 1946, that has epoused a functional approach to cooperation, while at the same time preserving the political sovereignty and independence of the member states. Since its founding, the GCC has been the focus of debate regarding its nature and functions. Intentionally or not, it has become a major media event, a fact that has contributed to the credibility gap between rising expectations based on public pronouncements and real achievements. This thesis is an inquiry into the role of the Gulf Cooperation Council in the economic development of the participating countries. The study comprises seven chapters, detailing both the scope and purpose of the study, and the criteria employed in the research. The main chapters examine the relative contribution of physical and human resources involved in cooperation between the Gulf countries. In addition, the contribution of agriculture and fisheries, as well as industrial development, to the G.C.C. countries are expounded. The services in the G.C.C. countries are specified. External trade and migration in the G.C.C. countries is discussed in detail. The conclusion describes the role of the Gulf Cooperation Council in economic development and includes suggestions and recommendations for the future