Black market exchange rate versus official exchange rate : which one better reflects economic fundamentals? An examination of the Balassa-Samuelson effect in China

Imperial Users onl

A New Algorithm for Solving Ring-LPN with a Reducible Polynomial

The LPN (Learning Parity with Noise) problem has recently proved to be of great importance in cryptology. A special and very useful case is the RING-LPN problem, which typically provides improved efficiency in the constructed cryptographic primitive. We present a new algorithm for solving the RING-LPN problem in the case when the polynomial used is reducible. It greatly outperforms previous algorithms for solving this problem. Using the algorithm, we can break the Lapin authentication protocol for the proposed instance using a reducible polynomial, in about 2^70 bit operations

A Test of the Balassa-Samuelson Effect Applied to Chinese Regional Data

In this paper, we investigate the relevance of the Balassa-Samuelson effect to the determination of regional inflation in China, for the period 1985 – 2000. To do this, we first construct annual measures of Chinese inflation and industry input on regional and sectoral basis. Then we generalise the Asea and Mendoza (1994) settings to consider asymmetric productivity shocks across sectors. Testing this model on Chinese Regional Data aid of non-stationary panel data techniques, it shows that our extended theoretical model is a good empirical representation of the Chinese data that supports the Balassa-Samuelson effect. Moreover, we are able to test the Asea and Mendoza (1994) version of our general model and find that the restrictions are rejected.Balassa-Samuelson effect, productivity shocks, panel data

A Test of the Balassa-Samuelson Effect Applied to Chinese Regional Data

In this paper we investigate the relevance of the Balassa-Samuelson effect to the determination of regional inflation in China, for the period 1985 – 2000. To do this, we first construct annual measures of Chinese inflation and industry input on regional and sectoral basis. Then we generalize the Asea and Mendoza (1994) settings to consider asymmetric productivity shocks across sectors. Testing this model on Chinese Regional Data aid of non-stationary panel data techniques, it shows that our extended theoretical model is a good empirical representation of the Chinese data which supports the Balassa- Samuelson effect. Moreover, we are able to test the Asea and Mendoza (1994) version of our general model and find that the restrictions are rejected.

Non-spectator Contributions To The Lifetime of Λb\Lambda_{b}

In this work, we evaluate the contributions of non-spectator effects to the lifetimes of $\Lambda_b$ and B-mesons. Based on the well-established models and within a reasonable range of the concerned parameters, the contributions can reduce the lifetime of $\Lambda_b$ by $7 \sim 8$ compared to that of B-mesons which are not significantly affected. This might partly explain the measured ratio $\tau(\Lambda_{b})/\tau(B^{0})=0.79$ \cite{Data}, which has been a long-standing discrepancy between theory and experimental data