2,574 research outputs found
Estimating the Black Economy through Monetary Approach: A Case Study of Pakistan
In the recent years, the ‘black economy’ has held enormous appeal for policy makers. Presence of black economy creates critical misrepresentation of macroeconomic variables in official estimates that lead to the false determination and delusional impact of economic policies. Similarly, black economy represents the unrecorded potential of the economy vis-à-vis resource generation and mobilization. The Economy of Pakistan underwent several minor tax reforms since 1960’s. However, the tax and tariff reform of 1990’s, committed under international pressure, was the first comprehensive exercise and therefore it becomes highly desirable to gauge its impact on the black economy and tax evasion practices. This paper, with some modifications, uses the standard monetary approach to obtain the latest estimates of the size of black economy and its macroeconomic implications thereof.
Packing: A Poem
For the student planning to venture out of their home and set sail for higher studies, the busiest time of the year is in the Fall. University application season is hard, but it is harder still to pack one’s bags and leave everything familiar behind. The international student feels especially divided at a time like this: the excitement of experiencing something new and the feeling of bereavement while leaving their world behind. “Packing” speaks of the act of taking with one the things that are important, special, and worthwhile. Though it is virtually impossible to carry one’s whole world in two suitcases, it is still worth trying to fit in as much as possible
Remarks on some recent results about polynomials with restricted zeros
We point out certain flaws in two papers published in Ann. Univ. Mariae Curie-Skłodowska Sect. A, one in 2009 and the other in 2011. We discuss in detail the validity of the results in the two papers in question
Some inequalities for polynomials and transcendental entire functions of exponential type
Let be a polynomial of degree such that (). The Bernstein\u27s inequality for polynomials states that (). A polynomial of degree that satisfies the condition is called a self-reciprocal polynomial. If is a self-reciprocal polynomial, then is an entire function of exponential type such that . Thus the class of entire functions of exponential type whose elements satisfy the condition is a natural generalization of the class of self-reciprocal polynomials. In this paper we present some Bernstein\u27s type inequalities for self-reciprocal polynomials and related entire functions of exponential type under certain restrictions on the location of their zeros
Application of the Euler's gamma function to a problem related to F. Carlson's uniqueness theorem
In his work on F. Carlson's uniqueness theorem for entire functions of exponential type, Q. I. Rahman [5] was led to consider an infinite integral and needed to determine the rate at which the integrand had to go to zero for the integral to converge. He had an estimate for it which he was content with, although it was not the best that could be done. In the present paper we find a result about the behaviour of the integrand at infinity, which is essentially best possible. Stirling's formula for the Euler's Gamma function plays an important role in its proof
Mediators of mechanotransduction between bone cells
Mechanical forces are known to regulate the function of tissues in the body, including bone. Bone adapts to its mechanical environment by altering its shape and increasing its size in response to increases in mechanical load associated with exercise, and by decreasing its size in response to decreases in mechanical load associated with microgravity or prolonged bed rest. Changes in bone size and shape are produced by a cooperative action of two main types of the bone cells - osteoclasts that destroy bone and osteoblasts that build bone. These cell types come from different developmental origins, and vary greatly in their characteristics, such as size, shape, and expression of receptor subtypes, which potentially may affect their responses to mechanical stimuli. The objective of this study is to compare the responses of osteoclasts and osteoblasts to mechanical stimulation.
This study has allowed us to conclude the following:
1. A mediator is released from a single source cell.
2. The response to the mediator changes with distance.
3. The value of the apparent diffusion coeficient increases with distance.
4. A plausible proposed mechanism is that ATP is released and degrades to ADP.
5. Future experiments are required to confim that ATP is the mediator as suggested
Understanding competitiveness through life experiences – A strategy-as-practice approach
Practitioners learn and enact typical ways of thinking, understanding and viewing (interpreting) things in their surroundings (fields). The paper argues that by viewing competitiveness as something done by people and not a deliberate-emergent process has the potential to provide a fresh insight as to why competitive advantage is difficult to attain, maintain and plan. Therefore, it is advocated that the nature of competitiveness be explored through the practice theory lens. It is further suggested that due to the reflexive nature of practice theory, this approach allows investigation of the network of social practices, thus bridging the understanding of how social structures and human agency link together to clarify why people do what they do. In translating Bourdieu's concepts of habitus and reflexivity the research has captured the layered intersubjective and interdependent nature of (12 practitioner interviews) becoming competitive. By doing so, the intimate understanding of the way in which practitioners organise, produce and legitimise competitiveness is captured
Bayesian estimation of monetary DSGE models and testing for indeterminacy
This thesis consists of three self-contained papers on U.S. monetary policy.
The first paper examines monetary policy in the early 2000s, a prolonged period of low interest
rates for which the efficacy of policy is intensely debated. Through the lens of an estimated
simple New Keynesian (NK) model, the paper finds that when measuring inflation using headline CPI,
the Federal Reserve's response to inflation turns out to be passive, therefore implying
indeterminacy. Only when measuring inflation using core PCE does monetary policy appear to have
been sufficiently active to rule out indeterminacy. Faced with this dilemma, the paper finally
estimates an extended model that distinguishes between core and headline inflation. Estimation
results from this model decisively rule out indeterminacy and suggest that indeed the Fed has put
more weight on core PCE.
The second paper contrasts interest rate rules featuring fixed versus time-varying inflation
target. It finds that the rule embedding time variation in inflation target empirically fits better
and that the Fed has been responding strongly to the inflation gap not only in the Great Moderation
period but also in the Great Inflation era. Therefore, this finding rules out self-fulfilling
inflation expectations as an explanation of the high inflation episode in the 1970s. The paper also
documents that changes in monetary policy have dampened most of the fluctuations in the inflation
gap and contributed to the decline in its persistence and predictability.
The third paper investigates the impact of commodity price fluctuations on monetary policy and
estimates a NK model with an explicit role for commodity price fluctuations. It finds that the
pre-Volcker period is characterized by a determinate version of the model featuring high degree of
real wage rigidity In this environment, the commodity price shocks of the 1970s created a severe
trade-off between inflation and output gap stabilization. Faced with this puzzle, the central bank
chose to react aggressively to both inflation and output growth, but not to the output gap, thereby
ruling out indeterminacy. The paper further documents that oil price shocks are no longer as
inflationary as they used to be due to a decline in real wage rigidity, thereby explaining the
resilience of the economy to sustained oil price hikes in the 2000s.Thesis (Ph.D.) (Research by Publication) -- University of Adelaide, School of Economics, 201
Some Coefficient Estimates for Polynomials on the Unit Interval
2000 Mathematics Subject Classification: 26C05, 26C10, 30A12, 30D15, 42A05, 42C05.In this paper we present some inequalities about the moduli of the coefficients of polynomials of the form f (x) : = еn = 0nan xn, where a0, ј, an О C. They can be seen as generalizations, refinements or analogues of the famous inequality of P. L. Chebyshev, according to which |an| Ј 2n-1 if | еn = 0n an xn | Ј 1 for -1 Ј x Ј 1
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