Money Supply Function for Bangladesh: An Empirical Analysis

The study had empirically tested the money supply function for Bangladesh using annual time series data. Authors observed that high-powered money played a very significant role in the money supply process of Bangladesh, particularly with respect to the narrow money supply M1, thus providing some support for the monetarist model. However, beyond the monetarist view, additional variables in the light of the Keynesian and structuralist analysis, such as bank rate, external resources, and financial liberalization need to be taken into account in understanding the money supply process of the country. Other aforesaid variables were also found to exert some influence on the broad money supply in Bangladesh. However, given the poor performance of the narrow money model and the existence of multicollinearity problem in both models, the estimated results, even for the broad money model, needed to be interpreted with caution.

Macro Economy of a Least Developed Country: The Case of Bangladesh

Bangladesh is one of the least developed countries. The economy of Bangladesh suffers from both supply side and demand side problems. This study has been undertaken with a view to investigate macro economic conditions of the country over the two sub periods period a) Sub period-1: Macroeconomic policy under administrative control i.e. 1976-77 to 1989-90; b) Sub period-2: Macroeconomic policy under reform measures i.e. 1990-91 to 2004-05. The study doesn’t find full applicability of either Keynesian or Monetarist view of the macro model for this country. Authors’ suggested that the performance of the Bangladesh economy is a mixture of accomplishment and failure, not significantly different from that of the majority of poor less developed countries and thus a coordinated approach to fiscal, monetary and exchange rate and debt management policy is required to achieve the long-term goal and sustainable economic growth with inflation within control. The first section of the paper provides the background to the literature review. Section two outlines the objective and explains the research methodology applied by gathering quantitative data. Section three explains the analysis of the data and results and section four provides policy implications and finally concluding comments.

Problems and Prospects of Poultry Industry in Bangladesh: An Analysis

The poultry industry has been successfully becoming a leading industry of Bangladesh. The primary objective of the study is to identify the various aspect relating the growth and sustainability of poultry industry in Bangladesh. Authors argued that strategic management in poultry sector requires complementing to achieve present Govt.’s vision of Digital Bangladesh 2021. Considering the importance of the country’s poultry industry in order to ensure the sustainable economic development it is now high time to step forward for the better accumulation of resources available from this industry. This industry proves various opportunities of increasing GDP growth rate plus equitable distribution through arranging food security as well as ensuring self-employment at a large scale as pointed out by the authors.

Power Imbalance Detection in Smart Grid via Grid Frequency Deviations: A Hidden Markov Model based Approach

We detect the deviation of the grid frequency from the nominal value (i.e., 50 Hz), which itself is an indicator of the power imbalance (i.e., mismatch between power generation and load demand). We first pass the noisy estimates of grid frequency through a hypothesis test which decides whether there is no deviation, positive deviation, or negative deviation from the nominal value. The hypothesis testing incurs miss-classification errors---false alarms (i.e., there is no deviation but we declare a positive/negative deviation), and missed detections (i.e., there is a positive/negative deviation but we declare no deviation). Therefore, to improve further upon the performance of the hypothesis test, we represent the grid frequency's fluctuations over time as a discrete-time hidden Markov model (HMM). We note that the outcomes of the hypothesis test are actually the emitted symbols, which are related to the true states via emission probability matrix. We then estimate the hidden Markov sequence (the true values of the grid frequency) via maximum likelihood method by passing the observed/emitted symbols through the Viterbi decoder. Simulations results show that the mean accuracy of Viterbi algorithm is at least $5$\% greater than that of hypothesis test.Comment: 5 pages, 6 figures, accepted by IEEE VTC conference, Fall 2018 editio

Estimation of Distribution of Income in Pakistan, Using Micro Data

Income distribution entered the post war discussion of economic development fairly late. Until the 1960s much of the focus was on industrialisation and the need for capital accumulation. Pakistan was no exception as in the early 60s economic expansion became the main target and means to political identity. Rapid population growth associated with steep decline in mortality demanded acceleration of production to keep pace. Overall aggregate expansion was much faster than before but without benefit for the poor. In that context emerged a new professional interest in income distribution. Haq’s (1964) study was one of the oldest studies conducted to measure inequality in personal income distribution in the high income brackets in the urban areas of Pakistan. The main objective of the author was to present the income distribution pattern in terms of the relative shares of different income groups as well as in terms of Pareto coefficients and concentration ratio during the period 1948-49 to 1957-58 for which published tax data was available. While recognising the limitations of the data used, the author went on to calculate various measures of income inequality including Pareto coefficient and Lorenz curve. The author also made comparison of Pakistan’s income distribution with U.S.A. and U.K