3,721 research outputs found
Impact of exchange rate changes on domestic inflation: a study of a small Pacific Island economy
This paper investigates the effect of changes in exchange rate on consumer price level, in Fiji, known as exchange rate pass-through during a thirty year period (1982-2009). Specifically, three time periods are focused on: the pre-coup years (1982-1986); post coup years (1987-2009); and full time period (1982-2009). Monthly data on consumer price index, nominal exchange rate, monetary aggregate and interest rate are utilized. The study results show that the degree of exchange rate pass-through to domestic price was relatively low during the entire sample period at 0.183. It was 0.453 and 0.373 for the pre and post coups periods. Regardless of the sample periods under study, the monetary aggregate, as a variable plays a pivotal in stabilizing the price level.Exchange rate pass-through, price, monetary measure, cointegration, Granger causality
Impact of global growth fluctuations on India: an empirical study
The article examines how growth fluctuations in major trading partner countries of the world have affected the Indian economy since its liberalization from the mid 1990s. This empirical study confirms that domestic output of India was strongly influenced by global shocks. The findings are not surprising as Indiaâs trade and financial integration with the rest of the world has been on the rise.Economic integration, global shock, regional shock, India
Role of Remittances in Economic Development: An Empirical Study of Worldâs Two Most Remittances Dependent Pacific Island Economies
In the context of the ongoing world-wide recession and the consequent dim prospects for exports from small Pacific island countries, mobilization of foreign exchange earnings assumes considerable importance. The dependency of Samoa and Tonga on inward remittances is well known, as the two Polynesian island countries in recent years have been amongst the first top ten remittance recipient countries of the world. This paper examines the long-run nexus between economic growth and inward remittances during a three-decade period (1981-2008). The paper also discusses some important policy implications arising out of the study findings.Remittances, financial sector development, economic growth, bounds test, Samoa, Tonga
Discriminative Tandem Features for HMM-based EEG Classification
AbstractâWe investigate the use of discriminative feature extractors in tandem configuration with generative EEG classification system. Existing studies on dynamic EEG classification typically use hidden Markov models (HMMs) which lack discriminative capability. In this paper, a linear and a non-linear classifier are discriminatively trained to produce complementary input features to the conventional HMM system. Two sets of tandem features are derived from linear discriminant analysis (LDA) projection output and multilayer perceptron (MLP) class-posterior probability, before appended to the standard autoregressive (AR) features. Evaluation on a two-class motor-imagery classification task shows that both the proposed tandem features yield consistent gains over the AR baseline, resulting in significant relative improvement of 6.2% and 11.2 % for the LDA and MLP features respectively. We also explore portability of these features across different subjects. Index Terms- Artificial neural network-hidden Markov models, EEG classification, brain-computer-interface (BCI)
Self-Dual Conformal Supergravity and the Hamiltonian Formulation
In terms of Dirac matrices the self-dual and anti-self-dual decomposition of
a conformal supergravity is given and a self-dual conformal supergravity theory
is developed as a connection dynamic theory in which the basic dynamic variabes
include the self-dual spin connection i.e. the Ashtekar connection rather than
the triad. The Hamiltonian formulation and the constraints are obtained by
using the Dirac-Bergmann algorithm.
PACS numbers: 04.20.Cv, 04.20.Fy,04.65.+
Panoramic-reconstruction temporal imaging for seamless measurements of slowly-evolved femtosecond pulse dynamics
Single-shot real-time characterization of optical waveforms with
sub-picosecond resolution is essential for investigating various ultrafast
optical dynamics. However, the finite temporal recording length of current
techniques hinders comprehensive understanding of many intriguing ultrafast
optical phenomena that evolve over a time scale much longer than their fine
temporal details. Inspired by the space-time duality and by stitching of
multiple microscopic images to achieve a larger field of view in the spatial
domain, here a panoramic-reconstruction temporal imaging (PARTI) system is
devised to scale up the temporal recording length without sacrificing the
resolution. As a proof-of-concept demonstration, the PARTI system is applied to
study the dynamic waveforms of slowly-evolved dissipative Kerr solitons in an
ultrahigh-Q microresonator. Two 1.5-ns-long comprehensive evolution portraits
are reconstructed with 740-fs resolution and dissipative Kerr soliton
transition dynamics, in which a multiplet soliton state evolves into stable
singlet soliton state, are depicted
Final Step to Green En Masse Financially
We make seven direct intra-brand comparisons between legacy carmakersâ electric vehicle (EV) and gas-powered vehicle who achieved top ten most-efficient electric vehicles in America. We find six out of the seven EVs will be able to breakeven the higher price relative to their gas counterparts within reasonable gas price range, electricity charge range, and federal government tax credit for buying EVs. We further find that federal government tax credit is the most effective policy tool that will induce new car buyers to choose EVs over comparable same-brand gas vehicle though other green initiatives such as solar panels on ownerâs roof tops and below-market-interest-rate (BMIR) loans are effective as well
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