Financial Disintermediation in the 1990s : Implications on Monetary Policy in Malaysia

The increased financial disintermediation that characterizes the Malaysia's financial system since the early 1990s has contributed towards changes in the dynamics of monetary transmission mechanism. Using quarterly data from 1980: 1 to 2005: 4, we found a greater effectiveness of monetary policy during the pre-1990:3 period, but the post-1990:3 period poses much difficulty for the conduct of monetary policy. Innovations in the financial market appeared to have led to lower output variability. Further, when the real interest rate is made a function of financial disintermediation, the real interest rate appeared to have lost its significance in influencing real variables in the post-1990: 3 period. This study did not, however, find evidence in support of the significance of the real interest rate in affecting real variables through the direct financing channel via the capital market.bank lending channel, capital market, cointegration, VAR

Protectionism Actually Hurts U.S. Jobs And Economy: An Investigation Of Proponents And Opponents

Outsourcing is an issue that is generating a lot of debate in the Pacific Northwest, often in response to stories about job cuts and fears that workers will get left out in the cold. However, much of what we read and hear about outsourcing is based on misinformation, no information, or just plain politics. Every major national study confirms that outsourcing creates more jobs than it destroys in the U.S. One of the most persistent complaints against globalization is that it destroys jobs. Many people believe that, the more shoes or cars or steel beams we import to the U.S., the fewer we produce ourselves and the fewer Americans with jobs in those industries. Anxiety about trade and jobs is especially acute about imports from poor countries, where workers typically earn a fraction of the wages earned by American workers. The most ardent proponents of free trade will grant that its benefits are not universally distributed, while it almost always outweighs the costs. Along with the many winners come smaller but still real numbers of losers: people whose jobs are indeed put in jeopardy and even eliminated by competition from imports. For those people, the benefits of lower prices, higher quality, and wider consumer choices can be swamped, at least temporarily, by the trauma of losing their jobs. The purpose of this research is to investigate the advantages and disadvantages of protectionism and its impacts on U.S. jobs and the economy

Evaluation of synergistic effect between ethyl formate and phosphine for control of three species Aphids in perishable commodity

Methyl bromide (MB) as a fumigant for Quarantine and Pre-shipment (QPS) could offer eradication of target pests within shorter fumigation period and without phytotoxicity. Therefore, unlike MB alternatives for soil fumigation, there is no ideally MB alternative fumigant for QPS purpose, particularly for perishable commodities. It is critically important that within shorter fumigation time requires killing all target insect pests and without effect of quality and deliver treated fruit and vegetables to the final consumer. Aphids are pests frequently found in imported and exported fruit and vegetables. Aphids was known as quarantine pest hard to control when conduct short period fumigation with phosphine (PH3) and low dose of ethyl formate (EF). Ethyl formate can lead to highly sorption and phytotoxic damage of some perishable commodities such as strawberries and cut flowers, especially at lower temperature (< 8°C). Here, we reported that synergistic effect between ethyl formate and phosphine at lower dosages and temperature. The mixture of ethyl formate and phosphine had synergistic effect to control adult and nymph stages of tested cotton aphid (Aphis gossypii), green peach aphid (Myzus persicae) and turnip aphid (Lipaphis erysimi). When 0.5 mg/L of PH3 combined with different levels of EF at 5 and 20°C for 2 hours fumigation, there was significantly difference in terms of LCT50% and LCT90% values in comparison with EF or PH3 alone. This new technology could be meet QPS requirement that is shorter exposure time and less damage of perishable commodities

Perturbative Scattering Phase Shifts in One-Dimension: Closed-form Results

A simple closed form expression is obtained for the scattering phase shift perturbatively to any given order in effective one-dimensional problems. The result is a hierarchical scheme, expressible in quadratures, requiring only knowledge of the zeroth order solution and the perturbation potential.Comment: 10 pages in REVTe

Charged Dilaton Black Holes with Unusual Asymptotics

We present a new class of black hole solutions in Einstein-Maxwell-dilaton gravity in $n \ge 4$ dimensions. These solutions have regular horizons and a singularity only at the origin. Their asymptotic behavior is neither asymptotically flat nor (anti-) de Sitter. Similar solutions exist for certain Liouville-type potentials for the dilaton.Comment: 24 pages, harvmac.tex, no figure

Remarks on self-interaction correction to black hole radiation

In the work [P. Kraus and F. Wilczek, \textit{Self-interaction correction to black hole radiation, Nucl. Phys.} B433 (1995) 403], it has been pointed out that the self-gravitation interaction would modify the black hole radiation so that it is no longer thermal, where it is, however, corrected in an approximate way and therefore is not established its relationship with the underlying unitary theory in quantum theory. In this paper, we revisit the self-gravitation interaction to Hawking radiation of the general spherically symmetric black hole, and find that the precisely derived spectrum is not only deviated from the purely thermal spectrum, but most importantly, is related to the change of the Bekenstein-Hawking entropy and consistent with an underlying unitary theory.Comment: 14 page

The arguments of associations

This chapter considers associative solutions to “non‐linear” discrimination problems, such as negative patterning (A+ and B+ vs AB‐) and the biconditional discrimination (AB+ and CD+ vs AC‐ and BD‐). It is commonly assumed that the solution to these discriminations requires “configural” elements that are added to the compound of two stimuli. However, these discriminations can be solved by assuming that some elements of each stimulus are suppressed when two stimuli are presented in compound. Each of these approaches can solve patterning and biconditional discriminations because they allow some elements, as the arguments of associations, to have differential “presence” on reinforced versus nonreinforced trials, and thus differential associability and control over responding. The chapter then presents a more specific version of one of these models, describing how interactions between stimuli, particularly the competition for attention, provide a mechanism whereby some elements are more suppressed than others when stimuli are presented simultaneously as a compound