Disaggregated Analysis Of Phillips Curve In Pakistan

This study has estimated disaggregated Phillips Curve (PC) in case of Pakistan for food, nonfood and core inflation using annual time series data. The main objective of the study is to compare traditional and open economy Phillips curves using global output gap as external determinant of inflation. The study has estimated global slack hypothesis by augmenting traditional PC with global output gap as measures of global determinant. The accurate measurement of slope of PC has significant role in effective monetary policy formulation to control inflation through managing aggregate demand. There is abundant literature investigating whether Phillips curve still holds, weakened or strengthened as it used to be before 1990. Although less focused in case of Pakistan, for other countries the literature shows evidence of flattening of PC due to many reasons mainly globalization. The results of this study indicate existence of global slack hypothesis where both domestic and global output gaps affect overall inflation in Pakistan positively and significantly. However, when estimated for food and nonfood inflation separately for the period 1976-2019, domestic output gap in presence of global output gap does not affect nonfood inflation in Pakistan. Similarly, for core inflation domestic output gap in presence of global output gap does not affect core inflation in Pakistan. This finding is consistent with existing literature arguing that central banks’ monetary policy intervention significantly affects relation between domestic output gap and core inflation. The results have also indicated that global economic crisis 2008 positively affected overall, food, nonfood and core inflation in Pakistan. The main policy implication of the study is that demand management policies in Pakistan need to be accompanied with supply side price controlling measures considering global economic factors

Trade Openness, Public Sector Corruption, and Environment: Data Analysis for Asian Developing Countries

This study used panel OLS, fixed and random effects models to check the effect of trade openness and public sector corruption on the environment. Government effectiveness has been used as a measure of public sector corruption. CO2 and methane gas emissions are used as the measure of environmental degradation. Different specification tests, such as F-test andHausman specification test are used to make selection among ordinary least square, fixed effect and random effect model. Random effect model seems best to handle such a situation.In this study the random effect framework is the preferred model, but this study also presents the results from the fixed effects model for comparison purpose. The results of the random effect model are the main finding of this study which concluded that there is negative and significant effect of trade openness, government effectiveness on both CO2 and methane gasemissions. In this way the world trade openness has also brought to the fore the importance of regulation of government policies towards openness because results has already warned that government effectiveness is volatile and is expected to become more tense thus the strategy needs to identify aspects of government corruption which are hurting economies.Keywords: Environmental Pollution, Fixed and Random Effects Model, Openness to Trade, Public Sector Corruption, Pooled OLS

Global polarization of Λ and Λ hyperons in Pb-Pb collisions at √ s N N = 2.76 and 5.02 TeV

The global polarization of Λ and Λ hyperons is measured for Pb-Pb collisions at √sNN = 2.76 and 5.02 TeV recorded with the ALICE at the Large Hadron Collider (LHC). The results are reported differentially as a function of collision centrality and hyperon’s transverse momentum (pT ) for the range of centrality 5–50%, 0.5 < pT < 5 GeV/c, and rapidity |y| < 0.5. The hyperon global polarization averaged for Pb-Pb collisions at √sNN = 2.76 and 5.02 TeV is found to be consistent with zero, ⟨PH⟩(%)≈0.01±0.06(stat.)±0.03(syst.) in the collision centrality range 15–50%, where the largest signal is expected. The results are compatible with expectations based on an extrapolation from measurements at lower collision energies at the Relativistic Heavy Ion Collider, hydrodynamical model calculations, and empirical estimates based on collision energy dependence of directed flow, all of which predict the global polarization values at LHC energies of the order of 0.01%

Charged-particle multiplicity fluctuations in Pb–Pb collisions at √ sNN = 2.76 TeV

Measurements of event-by-event fluctuations of charged-particle multiplicities in Pb–Pb collisionsat √sNN = 2.76 TeV using the ALICE detector at the CERN Large Hadron Collider (LHC) are presented in the pseudorapidity range |η| < 0.8 and transverse momentum 0.2 < pT < 2.0 GeV/c. The amplitude of the fluctuations is expressed in terms of the variance normalized by the mean of the multiplicity distribution. The η and pT dependences of the fluctuations and their evolution with respect to collision centrality are investigated. The multiplicity fluctuations tend to decrease from peripheral to central collisions. The results are compared to those obtained from HIJING and AMPT Monte Carlo event generators as well as to experimental data at lower collision energies. Additionally, the measured multiplicity fluctuations are discussed in the context of the isothermal compressibility of the high-density strongly-interacting system formed in central Pb–Pb collisions

First measurements of N-subjettiness in central Pb–Pb collisions at √ sNN = 2.76 TeV

The ALICE Collaboration reports the first fully-corrected measurements of the N-subjettiness observable for track-based jets in heavy-ion collisions. This study is performed using data recorded in pp and Pb–Pb collisions at centre-of-mass energies of √s = 7 TeV and √ sNN = 2.76 TeV, respectively. In particular the ratio of 2-subjettiness to 1-subjettiness, τ2/τ1, which is sensitive to the rate of two-pronged jet substructure, is presented. Energy loss of jets traversing the strongly interacting medium in heavy-ion collisions is expected to change the rate of two-pronged substructure relative to vacuum. The results are presented for jets with a resolution parameter of R = 0.4 and charged jet transverse momentum of 40 ≤ pT,jet ≤ 60 GeV/c, which constitute a larger jet resolution and lower jet transverse momentum interval than previous measurements in heavy-ion collisions. This has been achieved by utilising a semi-inclusive hadron-jet coincidence technique to suppress the larger jet combinatorial background in this kinematic region. No significant modification of the τ2/τ1 observable for track-based jets in Pb–Pb collisions is observed relative to vacuum PYTHIA6 and PYTHIA8 references at the same collision energy. The measurements of τ2/τ1, together with the splitting aperture angle ∆R, are also performed in pp collisions at √s = 7 TeV for inclusive jets. These results are compared with PYTHIA calculations at √s = 7 TeV, in order to validate the model as a vacuum reference for the Pb–Pb centre-of-mass energy. The PYTHIA references for τ2/τ1 are shifted to larger values compared to the measurement in pp collisions. This hints at a reduction in the rate of two-pronged jets in Pb–Pb collisions compared to pp collisions

KS0\mathrm {K_S}^{0}- and (anti-)Λ\Lambda -hadron correlations in pp collisions at s=13{\sqrt{s}} = 13 TeV

International audienceTwo-particle Azimuthal correlations are measured with the ALICE apparatus in pp collisions at $\sqrt{s} = 13$ TeV to explore strangeness- and multiplicity-related effects in the fragmentation of jets and the transition regime between bulk and hard production, probed with the condition that a strange meson ($\mathrm {K_S}^{0}$) or baryon ($\Lambda$) with transverse momentum $p_{\mathrm T} >3$ GeV/$c$ is produced. Azimuthal correlations between kaons or $\Lambda$ hyperons with other hadrons are presented at midrapidity for a broad range of the trigger ($3< p_\mathrm {T}^\mathrm {trigg} < 20$ GeV/$c$) and associated particle $p_{\mathrm T}$ (1 GeV/$c< p_\mathrm {T}^\mathrm {assoc} < p_\mathrm {T}^\mathrm {trigg}$), for minimum-bias events and as a function of the event multiplicity. The near- and away-side peak yields are compared for the case of either $\mathrm {K_S}^{0}$ or $\Lambda$(${\overline{\Lambda }}$) being the trigger particle with that of inclusive hadrons (a sample dominated by pions). In addition, the measurements are compared with predictions from PYTHIA 8 and EPOS LHC event generators