Political Instability and Inflation in Pakistan

This study investigates the effects of political instability on inflation in Pakistan. Applying the Generalized Method of Moments and using data from 1951-2007, we examine this link in two different models. The results of the ‘monetary’ model suggest that the effects of monetary determinants are rather marginal and that they depend upon the political environment of Pakistan. The ‘nonmonetary’ model’s findings explicitly establish a positive association between measures of political instability and inflation. This is further confirmed on analyses based on interactive dummies that reveal political instability significantly leading to high (above average) inflation.political instability, inflation, Pakistan

An Invariant Dual-beam Snowflake Antenna for Future 5G Communications

A broadband snowflake antenna for future 5G and millimeter-wave communications is presented. The proposed antenna has a size of 8 × 5 mm 2 . The antenna consists of a central hexagon surrounded by a series of symmetrically placed smaller hexagons around it, resulting in broadband characteristics. The impedance bandwidth of the proposed antenna ranges from 25.284-29.252 GHz. The antenna has a gain of 3.12 dBi at 28 GHz and is more than 98% efficient. A distinct feature of the proposed antenna is its dual-beam radiation pattern. The two beams remain fixed at ±50° even if the frequency is varied with in its operating band. The proposed antenna is modelled on thin Rogers substrate which makes it very useful for future 5G smart phones

A19/B6: A new Lanczos-type algorithm and its implementation

Lanczos-type algorithms are mostly derived using recurrence relationships between formal orthogonal polynomials. Various recurrence relations between these polynomials can be used for this purpose. In this paper, we discuss recurrence relations A 19 and B 6 for the choice Ui ( x ) = P(1)i(x), where Ui is an auxiliary family of polynomials of exact degree i. This leads to new Lanczos-type algorithm A19=B6 that shows superior stability when compared to existing algorithms of the same type. This new algorithm is derived and described here. Computational results obtained with it are compared to those of the most robust algorithms of this type namely A12, A new 12 A5=B10 and A8=B10 on the same test problems. These results are included

An alternative derivation of a new Lanczos-type algorithm for systems of linear equations

Various recurrence relations between formal orthogonal polynomials can be used to derive Lanczos-type algorithms. In this paper, we consider recurrence relation $A_{12}$ for the choice $U_i(x)=P_i(x)$, where $U_i$ is an auxiliary family of polynomials of exact degree $i$. It leads to a Lanczos-type algorithm that shows superior stability when compared to existing Lanczos-type algorithms. The new algorithm is derived and described. It is then computationally compared to the most robust algorithms of this type, namely $A_{12}$, $A_5/B_{10}$ and $A_8/B_{10}$, on the same test problems. Numerical results are included

An Analysis of Pakistan’s Vulnerability to Economic Crisis

The post 9/11 scenario in Pakistan’s economy can readily be identified with a host of positive developments. Real GDP growth rates have averaged around 6 percent since 2002, stock market surges have broken all the previous records, there is much more dynamism in the banking industry, capital flows are pouring into the economy, foreign exchange reserves have swelled to record high levels, and poverty has witnessed a declining trend. However, what mars these celebrations since last year is the scepticism of some market commentators on the growing vulnerability of Pakistan’s economy to crisis.1 The main weakness, as widely pointed out, remains the sustainability of current account deficit along with rising fiscal imbalances. A review of empirical literature on the determinants of currency crisis introduces a host of macroeconomic fundamentals broadly based on the predictions of the seminal first- and second-generation models. Although the list of these determinants varies from study to study, the consensus appears to be on the sustainability of external and fiscal positions as the main predictors of a crisis. An overview of the Pakistani fundamentals since 2000 reveals that broadly key Pakistani economic indicators do not give an immediate cause for concern. However, the emergence of primary budget balance as a deficit and the growing trade and current account deficits in the last two years does seem to be a cause for concern