Anti Money Laundering Mechanism: An Application of Principal-Agent Model for Pakistan

In this paper anti money laundering policy of the international financial regime is analyzed in principal agent model perspective. The strategy of the principal for formal agents is deliberated for global financial stability. This strategy encompasses incentive and dis-incentive for cooperation of formal agent. Formal agent by cooperating with principal may induce dis-incentive for informal agent. All the integrating stake holders make decision on the basis of comparison of present value of marginal cost of non-cooperation and present value of returns from cooperation. As the desired objective of the principal is to minimize transaction of money through informal channels therefore it has to include informal agents and clients in the strategy. The successful anti money laundering strategy can only be evolved by the cooperation of all the stakeholders.International Financial Regime, Principal Agent model and Money Laundering

Micro-econometric Analysis of Impact of Remittances on Household’s Welfare: Empirical Evidence from District Peshawar

The present study has been conducted in the year 2010 in district Peshawar to assess the impact of inflow of remittances on household’s welfare. The concept welfare was measured in terms of consumption expenditures of the household. A sample of 60 household was interviewed using snowball sampling combined with the convenient sampling technique. A regression model which was a mixture of direct elasticity and semi-elasticity was used to quantify the relationships. Apart from inflow of remittances (lnremt), three control variables (i.e. years of schooling of the household’s head – edu, age of household’s head – age & family size – fz) were employed to standardize the impact. Controlling for edu, age & edu, this paper conclude that inflow of remittances enhance household’s welfare. All control variables have theoretically correct positive signs. These results were statistically significant and results showed no major econometric problems that can influence statistical inference derived from the model. So it is highly recommended, in light of the present study, that govt. of Pakistan should take all possible steps to export labors abroad. It has dual positive impacts, one enhancing household’s prosperity (welfare) and other reducing unemployment at local level.

Storage Solutions for Big Data Systems: A Qualitative Study and Comparison

Big data systems development is full of challenges in view of the variety of application areas and domains that this technology promises to serve. Typically, fundamental design decisions involved in big data systems design include choosing appropriate storage and computing infrastructures. In this age of heterogeneous systems that integrate different technologies for optimized solution to a specific real world problem, big data system are not an exception to any such rule. As far as the storage aspect of any big data system is concerned, the primary facet in this regard is a storage infrastructure and NoSQL seems to be the right technology that fulfills its requirements. However, every big data application has variable data characteristics and thus, the corresponding data fits into a different data model. This paper presents feature and use case analysis and comparison of the four main data models namely document oriented, key value, graph and wide column. Moreover, a feature analysis of 80 NoSQL solutions has been provided, elaborating on the criteria and points that a developer must consider while making a possible choice. Typically, big data storage needs to communicate with the execution engine and other processing and visualization technologies to create a comprehensive solution. This brings forth second facet of big data storage, big data file formats, into picture. The second half of the research paper compares the advantages, shortcomings and possible use cases of available big data file formats for Hadoop, which is the foundation for most big data computing technologies. Decentralized storage and blockchain are seen as the next generation of big data storage and its challenges and future prospects have also been discussed

Combined effect of relief and level of expansion in a suddenly expanded flow

This paper presents the experimental results on the flow characteristics of a suddenly expanded flow from the convergent nozzle for subsonic, sonic and sonic under expanded flow. In the present study micro jets were used to investigate the effect of micro jets on base pressure flow field in the enlarged duct. Accordingly an active control in the form of four micro jets of 1 mm orifice diameter located at 900 intervals along a pitch circle diameter of 1.3 times the nozzle exit diameter in the base region was employed. The NPRs of the present study are 1.5, 2.0, 2.5 and 3.0 and the area ratio (ratio of area of suddenly expanded duct to nozzle exit area) studied were 2.4, 3.61, 4.84, and 6.25. The length-to-diameter (i.e. L/D) ratio of the sudden expansion duct was varied from 10 to 1. From the results, it is seen that the flow in the base region is dominated by the waves, the general perception what we have that correctly expanded flow will be from waves is proved to be wrong; also, it is found that for L/D in the range L/D = 4, 3 and 2 the flow remains oscillatory mostly for NPRs 2.5 and 3.0. However, these oscillations are suppressed either with the increase in the L/D ratio in the range from 3 to 10 or with decrease in the level of expansion NPRs from 2.5 to 1.5. The present study explicitly reveals that, the base pressure in a suddenly expanded axi-symmetric duct can be controlled by employing micro jets under the influence of favorable pressure gradient