99 research outputs found

    Identifying Monetary Policy Under Fixed Exchange Rates in a Small Open Economy

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    Purpose: This paper is an empirical investigation of the transmission of monetary policy in a small open economy with fixed exchange rates. The paper argues that under a fixed exchange rate system and free mobility of capital, the ability of monetary policy actions to affect the real variables of the economy is limited and constrained by maintaining the peg.   Theoretical framework: The study's theoretical framework examines how Jordan's monetary policy, influenced by a fixed exchange rate with the U.S. dollar, responds to domestic and external shocks, with an emphasis on the transmission of these shocks through key economic variables.    Design/Methodology/Approach: A two-country structural macroeconomic model has been developed to describe the small economy that explicitly incorporates an interest rate differential.   Findings:  Using Jordan as a case study during the period when its currency was pegged to the U.S. dollar, vector auto-regression analysis reveals that there is evidence of a strong U.S. monetary policy influence on the Jordanian economy. The results show that adjustment of the policy rate by the central bank of Jordan in response to Federal Reserve actions has no significant impact on output while the interest rate differentials tend to have an immediate influence on inflation with short lags, albeit small in magnitude.   Research, Practical & Social implications: The research provides insights that can inform effective monetary policy strategies in small open economies like Jordan, offering implications for policymakers and contributing to economic stability.   Originality/Value: The originality of this study lies in its comprehensive analysis of Jordan's monetary policy within the context of a small open economy, offering valuable insights into the effects of external shocks, exchange rate regimes, and policy responses on key economic variables.

    Fiscal Policy Interaction with Private Investment: The Case of Jordan

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    The purpose of this study was to find the impact of fiscal policy on private investment in Jordan. Stepwise regression method was utilized for this purpose. The model expresses private investment (PI) as a function of various levels and components of fiscal policy that include current expenditure (CE), capital expenditure (CI), internal public debt (IPD), external public debt (EPD), and tax revenue (TR). The statistical results indicate that the most effective variable on private investment in Jordan is current expenditure. We found that the coefficient of determination = 0.78 which is reflect the importance of this variable on private investment in Jordan. Recommendations were given based on results

    Developing a Framework Explaining Continuous Participation in Digitally Engaged Communities

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    Digitally engaged communities are virtual communities in the sense that they exist in a cyberspace connecting different people with shared interests. They provide real-world communities a place to come together using the Internet. The eventual success of digitally engaged communities cannot thrive without continuous users’ involvement and participation. Therefore, interests have been rising in studying the behaviour of continuous participation, and examining what influences the continuation of use of these communities. In this paper, we propose a framework explaining human behaviour and intentions of why would users continue or discontinue participating in digitally engaged communities and what sort of behaviours they might undertake. This framework is grounded on the decomposed theory of planned behaviour and consequently develops three main taxonomies along with their interrelationships: (1) the social influences affecting members’ attitudes, (2) the intentional value elements offered by the community, and (3) the behavioural roles played by members. Implications of the developed framework for theory and practice have been explained demonstrating its value and efficacy on helping decision and policy makers, service providers, users and developers in pertaining a successful operation of a community where value elements are offered, exchanged and met at the same time

    Perfusion microbioreactor with integrated cell retention device

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    Intensified perfusion processes are a key component in Integrated Continuous Biomanufacturing that still faces many challenges. For example, delivering the right amount of nutrients for extremely high cell densities at economically feasible perfusion rates need the right cell culture media and process development. To this end, data sets are generated using high-throughput small-scale models. In the absence of a cell retention device that can work with those small working volumes, strategies that mimic perfusion are being used. For example, a common technique is to use either high density batch or simulation of perfusion in spin tubes or ambr®151 using discrete media exchanges. However, the applicability of the data generated in these small-scale models is limited and process development must be supplemented with perfusion bioreactors at benchtop scale. The key point that these small-scale models miss to accurately predict perfusion processes is a cell retention device that enables continuous media exchange while retaining cells in the bioreactor. In this work we will present the evaluation of a perfusion microbioreactor system. This 2mL perfusion microbioreactor has all the requirements to accurately control DO, pH and temperature; it is equipped with a filtration-based cell retention device and optical density sensors that enable the performance of continuous perfusion with automated cell bleed (Figure 1)2. We will show cell performance in the perfusion microbioreactor system at 2vvd using a CHOZN®-GS producing a fusion protein (n=3) and a CHO-S producing an IgG (n=2) in steady state with a target viable cell density of 50x106vc/mL and dynamic perfusion. We will then compare cell growth, metabolites and production to steady state and dynamic 3L perfusion bioreactors and we will review process modifications made during the evaluation, including gas and mixing strategies. Lastly, we will present two case studies using the perfusion microbioreactor system: 1) Evaluation of cell performance in three different media. 2) Determination of minimum CSPR. Please click Additional Files below to see the full abstract

    Visual pathway function and structure in Wolfram syndrome: Patient age, variation and progression

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    Background/aimsTo report alterations in visual acuity and visual pathway structure over an interval of 1–3 years in a cohort of children, adolescents and young adults who have Wolfram syndrome (WFS) and to describe the range of disease severity evident in patients with WFS whose ages differed by as much as 20 years at first examination.MethodsAnnual, prospective ophthalmological examinations were performed in conjunction with retinal nerve fibre layer (RNFL) analysis. Diffusion tensor MRI-derived fractional anisotropy was used to assess the microstructural integrity of the optic radiations (OR FA).ResultsMean age of the 23 patients with WFS in the study was 13.8 years (range 5–25 years). Mean log minimum angle resolution visual acuity was 0.66 (20/91). RNFL thickness was subnormal in even the youngest patients with WFS. Average RNFL thickness in patients with WFS was 57±8 µ or ~40% thinner than that measured in normal (94±10 µ) children and adolescents (P&lt;0.01). Lower OR FA correlated with worse visual acuity (P=0.006). Subsequent examinations showed declines (P&lt;0.05) in visual acuity, RNFL thickness and OR FA at follow-up intervals of 12–36 months. However, a wide range of disease severity was evident across ages: some of the youngest patients at their first examination had deficits more severe than the oldest patients.ConclusionThe genetic mutation of WFS causes damage to both pregeniculate and postgeniculate regions of the visual pathway. The damage is progressive. The decline in visual pathway structure is accompanied by declines of visual function. Disease severity differs widely in individual patients and cannot be predicted from their age.</jats:sec

    Explaining users' intentions to continue participating in Web 2.0 communities : the case of Facebook in the Hashemite Kingdom of Jordan

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    Traditional communications media has been transformed and reshaped with the introduction of the Internet and its technologies. The Internet has massively evolved over time, and the World Wide Web or otherwise referred to as Web 1.0 has developed to what is so called Web 2.0. The explosive diffusion of this global system has fostered the emergence of Web-based communities supported by the existence of globally connected individuals. As both the number of World Wide Web virtual community sites and users has expanded and grown quickly, these communities have become a subject of study to researchers of multiple disciplines. However, sustaining a successful operation of any Web 2.0 community depends on the continuous participation of its own users. It is massively important to maintain committed members in terms of continuous participation. Yet, their level of participation might vary depending on one‘s personal, social, situational, and cultural influences that eventually affect their intentions and behaviour on whether to continue or discontinue participating in that community. Facebook as a particular Web 2.0 community has been used as an exemplary case study in this research reflecting the drivers of its continuous usage in the Hashemite Kingdom of Jordan. Moreover, very few studies on Web 2.0 communities covered the Middle East area and more specifically there is almost absence of research in Jordan on how users of Facebook along with their cultural and behavioural influences would continue using this Web 2.0 community or not. Therefore, this study tackles this issue to investigate the influences affecting the continuous participation in these communities This research develops a conceptual framework that can be used as an instrument to guide empirical work in the field of Web 2.0 communities. The empirical context of the research is random Facebook users in Jordan, where data were analysed using quantitative and qualitative research approaches. Results and findings show that Personal attitude, subjective norms, and perceived behavioural control has shown to be all significant and highly influential on affecting users‘ intentions to continue participating on Facebook, perceived behavioural control (i.e. facilitating conditions, controllability) ranked the highest in its significance towards examining users’ intentions to continue participating on Facebook. Followed by the subjective norms (i.e. critical mass, compliance, and informational influences), then ranked the personal attitude (i.e. satisfaction, compatibility). Results have proved that most Facebook users in Jordan do participate on this site in the first place to deliver epistemic value elements, not with a much difference came the social value after, then ranked the hedonic third. The utilitarian value proved to be insignificant by all means, therefore, users intend to continue participating on Facebook despite of the perceived value elements to be delivered. Interestingly, analysis have proved the insignificance of the three cultural dimensions (i.e. masculinity vs. Femininity, individualism vs. Collectivism, and long-term vs. Short-term orientation), therefore, it has not been considered moderating in the framework of this research. Furthermore, the study concludes with specific implications for relevant theories, and useful findings on the individual, organizational, and the societal levels. Additionally, researchers in similar areas can find this work useful as a way to approach new streams in studying participation in Web 2.0 communities.EThOS - Electronic Theses Online ServiceGBUnited Kingdo
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