On Modulo AG-groupoids

A groupoid G is called an AG-groupoid if it satisfies the left invertive law: (ab)c = (cb)a. An AG-group G, is an AG-groupoid with left identity e \in G (that is, ea = a for all a \in G) and for all a \in G there exists a' \in G such that a.a' = a'.a = e. In this article we introduce the concept of AG-groupoids (mod n) and AG-group (mod n) using Vasantha's constructions [1]. This enables us to prove that AG-groupoids (mod n) and AG-groups (mod n) exist for every integer n \geq 3. We also give some nice characterizations of some classes of AG-groupoids in terms of AG-groupoids (mod n).Comment: 10 page

Money, income and the Lucas critique: the case for Malaysia

The objective of this study is to determine the usefulness of the monetary aggregates in Malaysia for policy action purposes. Money MI and M2 were tested for weak exogeneity, strong erogeneity and superexogeneity (which implies Lucas critique) within a seasonal error-correction model framework. Our weak exogeneity and superexogeneity tests suggest that money MI and M2 are not subject to the Lucas critique and thus imply that both monetary awegates are useful intermediate targets for monetary policy purposes. The importance of money as intermediate targets is further strengthened as our seasonal error-correction model indicates that money (MI and M2) and income exhibit stable long-run relationships

Effects of fiscal policy and institutions on the economic growth of Asian economies: Evidence from dynamic panel data analysis

This paper investigates the effects of fiscal policy and institutions on the economic growth of Asian economies through the application of the GMM-SYS approach to dynamic panel estimator as a preference analysis. It examines two different channels through which fiscal policy can affect long-run economic growth in Asia. The first channel is when aggregate government expenditure, aggregate of other fiscal variables, and institution affect the real per capita GDP, and the second channel is to determine the role of institutions on the real per capita GDP. The dynamic panel data result, especially GMM-SYS, established a longrun relationship between fiscal policy, institution, and economic growth. We found positive and statistically significant impact of aggregate of government expenditure and aggregate of other fiscal variables and institution on real per capita GDP. Furthermore, we found that there is a role of institutions on the real per capita GDP