Japan’s Stock Market Performance: Evidence from Toda-Yamamoto and Dolado-Lutkepohl Tests for Multivariate Granger Causality

This paper empirically examines the causal linkages of Japan’s stock market (proxied by Nikkei 225 index) performance with selected key macroeconomic fundamentals. Relatively recent Toda-Yamamoto and Dolado-Lutkepohl, multivariate Granger causality tests are implemented. Monthly time series data from September 1974 to February 2017 with a large sample size of 510 monthly observations covering the floating exchange rate regime were utilized.  The study documents some interesting and some unexpected results. Bi-directional causality is evidenced only between the stock market and the industrial production. Somewhat counterintuitively, unidirectional causality runs from stock market to money supply.  Furthermore, unidirectional causality flows from interest rate (bond yield) to stock market. Not so surprisingly, no causality is detected between the stock market and the general price level. This is also true for stock market and exchange rate. The above findings may aid Japanese policy makers to formulate appropriate financial, monetary and exchange rate management policies.  Japan should give second thought on the efficacy of its over reliance on monetary policy with interest-rates targeting and should prepare itself for launching a pragmatic fiscal stimulus program.Keywords: Stock Market; Macroeconomics Fundamentals; Granger CausalityJEL Classifications: E44, F41, G15DOI: https://doi.org/10.32479/ijefi.11262</p

The role of HbA1c as a diagnostic test for type 2 diabetes mellitus in Bangladesh

Background: Type 2 diabetes mellitus is a serious chronic disease with microvascular complications such as retinopathy, nephropathy and neuropathy and macrovascular complications such as cardiac, peripheral arterial and cerebrovascular disease. Objective: The aim of the study was to investigate the value of HbAlc as a diagnostic test for type 2 diabetes mellitus in Bangladeshi inclividuals. Methods: This cross sectional study was conducted in the Department of Biochemis­try, Bangabandhu Sheikh Mujib Medical University, Dhaka, Bangladesh. A total 657 patients, who were attended in the one point sample collection centre of Bangabandhu Sheikh Mujib Medical University for oral glucose tolerance test (OGIT) from 1st April 2014 to 30th June 2014, were purposively enrolled in this study. According to WHO criteria and based on OGIT findings study subjects were categorized into Normoglycemic (257), IFG (82), IGT (174), and DM (347). Fasting plasma glucose. HbA1c and plasma glucose at 2 hour after glucose load on OGIT was done from all the study subjects. Results: With a cut-off value of 6.J %, HbAlc had a maximal sensitivity and specificity of 97.0% and 49.0% respectively with a positive predictive value 65.5% and a negative predictive value 94.0%. HbA1c had a sensitivity of 93.0% and a specificity of 63.0% was calculated with a cut-off value of 6.5% with positive predictive value 77.5% and negative predictive value 90.0%. Both fasting plasma glucose levels and 2 hour plasma glucose levels were showed significant positive correlation with HbAlc (r = 0.788, P = 0.000 and r = 0.800, P = 0.000 respectively). Conclusion: The study suggests that measurement of HbAlc could be used to make diagnosis of T2DM in the Bangladeshi population

POVERTY REDUCTION AND LIVELIHOOD IMPROVEMENT OF WOMEN THROUGH GOAT REARING

This study aimed to examine household in goat keeping farms having more than two goats with respect to its viability, socioeconomic characteristics of the women goat keepers, contribution of small scale goat farming to food security and livelihood, identify major problems associated with small scale goat famers. The study had been conducted in 6 villages namely Kandhapara, Hossainpur, Merigai, Horinadi Shimulia and Nagua of Phulpur upazila in Mymensingh district. In total 60 farmers comprising 07 medium, 43 poor and 10 most vulnerable or extreme poor farmers were randomly for the study. Primary data were collected from the selected farmers by interview method. Both tabular and financial analyses were done to achieve the objectives. The study revealed that most of the women were poor with small family size. However they were young and literate. The study clearly indicated that investment in goat farming were viable. The annual total cost of production per Black Bengal goat was BDT. 3,374, while gross return and net return per household were BDT.21,276 and BDT.17,902 respectively. It was observed that livelihood increased dramatically through goat rearing in the study area. Annual food purchasing capacity increased from 20 to 28 percent. The social status of the farmer?s family increases. Educational status, festival, health facilities acceptance were increased at 19%, 26% and 28% through goat. The position in the family, participation in social activities, water facilities and sanitation also increased remarkably. The study also identified that the goat farmers had been facing some crucial problems with goat keeping. If these problems could be overcome, all the goat farms would be able to earn a higher level of that of the existing level. It was clearly found that the women who reared goat had the most rapid improvement in livelihood

Use of Wireless Sensor and Microcontroller to Develop Water-level Monitoring System

This paper presents the design and development process of Wireless Data Acquisition System (WiDAS) which is a multi-sensor system for water level monitoring. It also consists of a microcontroller (ATMega8L), a data display device and an ultrasonic distance sensor (Parallax Ping). This wireless based acquisition system can communicate through RF module (Tx-Rx) from the measurement sources, such as sensors and devices as digital or analog values over a period of time. The developed system has the option to store the data in the computer memory. It was tested in real time and showed continuous and correct data. The developed system is consisting of a number of features, such as low energy consumption, easy to operate and well-built invulnerability, which cangive successful results to measure the water level. Finally, its flexibility facilitates an extensive application span for self-directed data collection with trustworthy transmission in few sparse points over huge areas

Fuzzy Logic Controller Design for Intelligent Drilling System

An intelligent drilling system can be commercially very profitable in terms of reduction in crude material and labor involvement. The use of fuzzy logic based controller in the intelligent cutting and drilling operations has become a popular practice in the ever growing manufacturing industry. In this paper, a fuzzy logic controller has been designed to select the cutting parameter more precisely for the drilling operation. Specifically, different input criterion of machining parameters are considered such as the tool and material hardness, the diameter of drilling hole and the flow rate of cutting fluid. Unlikethe existing fuzzy logic based methods, which use only two input parameters, the proposed system utilizes more input parameters to provide spindle speed and feed rate information more precisely for the intelligent drilling operation

Minimal information for studies of extracellular vesicles (MISEV2023): From basic to advanced approaches

Extracellular vesicles (EVs), through their complex cargo, can reflect the state of their cell of origin and change the functions and phenotypes of other cells. These features indicate strong biomarker and therapeutic potential and have generated broad interest, as evidenced by the steady year-on-year increase in the numbers of scientific publications about EVs. Important advances have been made in EV metrology and in understanding and applying EV biology. However, hurdles remain to realising the potential of EVs in domains ranging from basic biology to clinical applications due to challenges in EV nomenclature, separation from non-vesicular extracellular particles, characterisation and functional studies. To address the challenges and opportunities in this rapidly evolving field, the International Society for Extracellular Vesicles (ISEV) updates its 'Minimal Information for Studies of Extracellular Vesicles', which was first published in 2014 and then in 2018 as MISEV2014 and MISEV2018, respectively. The goal of the current document, MISEV2023, is to provide researchers with an updated snapshot of available approaches and their advantages and limitations for production, separation and characterisation of EVs from multiple sources, including cell culture, body fluids and solid tissues. In addition to presenting the latest state of the art in basic principles of EV research, this document also covers advanced techniques and approaches that are currently expanding the boundaries of the field. MISEV2023 also includes new sections on EV release and uptake and a brief discussion of in vivo approaches to study EVs. Compiling feedback from ISEV expert task forces and more than 1000 researchers, this document conveys the current state of EV research to facilitate robust scientific discoveries and move the field forward even more rapidly

The Euro and Convergence among Stock Markets of Germany, France and Italy

This paper re-examines the role of the euro in enhancing the convergence among stock markets of Germany, France and Italy. The VAR-framework is implemented with a dummy variable. A pre- and post-euro analysis is also performed with an exclusion of the dummy variable. Monthly data on stock market returns from February 1994 through December 2007 are employed. The empirical results reveal evidence of significant convergence among the above markets during the post-euro era relative to the pre-euro era with net positive short-run causal effects.