The monetary transmission mechanism in Pakistan: a sectoral analysis

The present paper takes a first step in investigating the monetary transmission mechanism in Pakistan at a sectoral level. Using quarterly data spanning from 1973:1 to 2003:4, we examine whether monetary policy shocks have different sectoral effects. Taking note of structural transformation of the economy and the monetary and financial reforms during 1990s, we also assess whether the reform process has notable impact on the monetary transmission mechanism. We find evidence supporting sector-specific variation in the real effects of monetary policy. Our results also suggest significant changes in the transmission of monetary shock to real sector of the economy during post-reform period.Monetary transmission mechanism; VAR; Pakistan; Sectoral analysis

Screening-Limited Response of NanoBiosensors

Despite tremendous potential of highly sensitive electronic detection of bio-molecules by nanoscale biosensors for genomics and proteomic applications, many aspects of experimentally observed sensor response (S) are unexplained within consistent theoretical frameworks of kinetic response or electrical screening. In this paper, we combine analytic solutions of Poisson-Boltzmann and reaction-diffusion equations to show that the electrical response of nanobiosensor varies logarithmically with the concentration of target molecules, time, the salt concentration, and inversely with the fractal dimension of sensor surface. Our analysis provides a coherent theoretical interpretation of wide variety of puzzling experimental data that have so far defied intuitive explanation.Comment: 7 pages, 2 figure

Financial development and energy consumption nexus in Malaysia: A multivariate time series analysis

Despite a bourgeoning literature on the existence of a long-run relationship between energy consumption and economic growth, the findings have failed to establish clearly the direction of causation. A growing economy needs more energy, which is exacerbated by growing population. Evidence suggests that financial development can reduce overall energy consumption by achieving energy efficiency. Economic growth and energy consumption in Malaysia have been rising in tandem over the past several years. The three public policy objectives of Malaysia are: economic progress, population growth and financial development. It is of interest to the policymakers to understand the dynamic interrelation among the stated objectives. The paper implements Auto Regressive Distributed Lag (ARDL) approach to cointegration to examine the existence of a long-run relationship among the series: energy consumption, population, aggregate production, and financial development for Malaysia; and tests for Granger causality within the Vector Error Correction Model (VECM). The results suggest that energy consumption is influenced by economic growth and financial development, both in the short and the long-run, but the population-energy relation holds only in the long run. The findings have important policy implications for balancing economic growth vis-à-vis energy consumption for Malaysia, as well as other emerging nations.Financial development; Energy consumption; ARDL; Economic growth

A Critical Review of Recent Progress on Negative Capacitance Field-Effect Transistors

The elegant simplicity of the device concept and the urgent need for a new "transistor" at the twilight of Moore's law have inspired many researchers in industry and academia to explore the physics and technology of negative capacitance field effect transistor (NC-FET). Although hundreds of papers have been published, the validity of quasi-static NC and the frequency-reliability limits of NC-FET are still being debated. The concept of NC - if conclusively demonstrated - will have broad impacts on device physics and technology development. Here, the authors provide a critical review of recent progress on NC-FETs research and some starting points for a coherent discussion.Comment: 19 pages, 2 figure