USING SPLINE FUNCTIONS FOR THE SUBSTANTIATION OF TAX POLICIES BY LOCAL AUTHORITIES

The paper aims to approach innovative financial instruments for the management of public resources. In the category of these innovative tools have been included polynomial spline functions used for budgetary sizing in the substantiating of fiscal and budgetary policies. In order to use polynomial spline functions there have been made a number of steps consisted in the establishment of nodes, the calculation of specific coefficients corresponding to the spline functions, development and determination of errors of approximation. Also in this paper was done extrapolation of series of property tax data using polynomial spline functions of order I. For spline impelementation were taken two series of data, one reffering to property tax as a resultative variable and the second one reffering to building tax, resulting a correlation indicator R=0,95. Moreover the calculation of spline functions are easy to solve and due to small errors of approximation have a great power of predictibility, much better than using ordinary least squares method. In order to realise the research there have been used as methods of research several steps, namely observation, series of data construction and processing the data with spline functions. The data construction is a daily series gathered from the budget account, reffering to building tax and property tax. The added value of this paper is given by the possibility of avoiding deficits by using spline functions as innovative instruments in the publlic finance, the original contribution is made by the average of splines resulted from the series of data. The research results lead to conclusion that the polynomial spline functions are recommended to form the elaboration of fiscal and budgetary policies, due to relatively small errors obtained in the extrapolation of economic processes and phenomena. Future research directions are taking in consideration to study the polynomial spline functions of second-order, third-order, Hermite spline and cubic splines of class C2 .fiscal policy, budget deficits, spline functions, budget justification, debt crisis

SUBSTANTIATION OF THE PUBLIC DEBT SUSTAINABILITY USING KALMAN FILTER

Global economic conditions have pushed many countries into the delicate situation of contracting foreign loans, leading overnight at alarming volumes of public debt. The need for control and relevant analysis for the sustainability of a country\'s public debt has led us to use the Kalman filter in predicting future values of the key indicators of public debt. The development of a mathematical model of analysis for public services and the budget deficit was necessary to objectively assess the level of the public debt sustainability.Knowing future values of the public debt or the future evolutions of the revenues for the operational budget, offers the posibility of a better handling of the operational expenditures and finally a better balance for the public budget deficit.Using the mathematical mechanism of Kalman filters implemented in Matlab programming language, we generated the estimated future values of the proposed model proposed and key indicators, the results confirming the fears of a low public debt sustainability for Romania.We predicted the future values for the debt service, the public external debt and the operational public revenues,expenditures and deficit, and compared them, to obtain an image of the future evolution and position of the sustainability of the public debt. The work in this paper is an innovative one for the public science sector, and the results obtained are promising for future researches. The values estimated by the Kalman filter are an orientation for the future public policies, and indicate a rather stable but negative evolution for the public debt service. The sustainability of the public debt depends on the decisions taken for the correction of the estimated values, in changing the negative evolution of the budgetary indicators into a positive one.Taking all this into consideration we will conclude that the mathematical mecanism of the Kalman filters offers valuable informations for Government and future research should be oriented to develop it's returned results.Kalman filter, debt, sustainability, deficit, prediction

Smart Grid Management using Blockchain: Future Scenarios and Challenges

Decentralized management and coordination of energy systems are emerging trends facilitated by the uptake of the Internet of Things and Blockchain offering new opportunities for more secure, resilient, and efficient energy distribution. Even though the use of distributed ledger technology in the energy domain is promising, the development of decentralized smart grid management solutions is in the early stages. In this paper, we define a layered architecture of a blockchain-based smart grid management platform featuring energy data metering and tamper-proof registration, business enforcement via smart contracts, and Oracle-based integration of high computational services supporting the implementation of future grid management scenarios. Three such scenarios are discussed from the perspective of their implementation using the proposed blockchain platform and associated challenges: peer to peer energy trading, decentralized management, and aggregation of energy flexibility and operation of community oriented Virtual Power Plants.Comment: Accepted and presented at: 19th RoEduNet Conference: Networking in Education and Research, December 11-12, 202

Management options in the sudden hearing loss of a diabetic patient

The aim of our paper is to highlight the main therapeutic principles and the management options in the case of a diabetic patient who has had a sudden hearing loss. Mainly, the aim is to underline the sudden hearing loss treatment adjustment of the diabetic patient compared to the non-diabetic patient. By understanding the mechanism of sudden hearing loss in a diabetic patient, namely the impact of glycemic variations and their implication on the microvascular structures of the inner ear, we try to underline the treatment principles and management options of the previously mentioned combined pathologies. Thus, it is necessary to adapt the classes of drugs used in the case of sudden sensorineural hearing loss of the diabetic patient in comparison with the non-diabetic patient, in order not to aggravate or complicate the patient’s functional status. Therefore, the treatment will need to be adapted both by classes of medication and by the type of administration used. Adequate control of the progression, treatment and complications of diabetes mellitus ensures optimal treatment management in case of a sudden hearing loss and therefore interferes with the favorable functional hearing outcomes. The role of this paper is not only to state the therapeutic principles in the case of sudden hearing loss in a diabetic patient, but also to analyze the impact on the management of potential local and systemic risk factors

USING SPLINE FUNCTIONS FOR THE SUBSTANTIATION OF TAX POLICIES BY LOCAL AUTHORITIES

The paper aims to approach innovative financial instruments for the management of public resources. In the category of these innovative tools have been included polynomial spline functions used for budgetary sizing in the substantiating of fiscal and budgetary policies. In order to use polynomial spline functions there have been made a number of steps consisted in the establishment of nodes, the calculation of specific coefficients corresponding to the spline functions, development and determination of errors of approximation. Also in this paper was done extrapolation of series of property tax data using polynomial spline functions of order I. For spline impelementation were taken two series of data, one reffering to property tax as a resultative variable and the second one reffering to building tax, resulting a correlation indicator R=0,95. Moreover the calculation of spline functions are easy to solve and due to small errors of approximation have a great power of predictibility, much better than using ordinary least squares method. In order to realise the research there have been used as methods of research several steps, namely observation, series of data construction and processing the data with spline functions. The data construction is a daily series gathered from the budget account, reffering to building tax and property tax. The added value of this paper is given by the possibility of avoiding deficits by using spline functions as innovative instruments in the publlic finance, the original contribution is made by the average of splines resulted from the series of data. The research results lead to conclusion that the polynomial spline functions are recommended to form the elaboration of fiscal and budgetary policies, due to relatively small errors obtained in the extrapolation of economic processes and phenomena. Future research directions are taking in consideration to study the polynomial spline functions of second-order, third-order, Hermite spline and cubic splines of class C2

SUBSTANTIATION OF THE PUBLIC DEBT SUSTAINABILITY USING KALMAN FILTER

Global economic conditions have pushed many countries into the delicate situation of contracting foreign loans, leading overnight at alarming volumes of public debt. The need for control and relevant analysis for the sustainability of a country's public debt has led us to use the Kalman filter in predicting future values of the key indicators of public debt. The development of a mathematical model of analysis for public services and the budget deficit was necessary to objectively assess the level of the public debt sustainability.Knowing future values of the public debt or the future evolutions of the revenues for the operational budget, offers the posibility of a better handling of the operational expenditures and finally a better balance for the public budget deficit.Using the mathematical mechanism of Kalman filters implemented in Matlab programming language, we generated the estimated future values of the proposed model proposed and key indicators, the results confirming the fears of a low public debt sustainability for Romania.We predicted the future values for the debt service, the public external debt and the operational public revenues,expenditures and deficit, and compared them, to obtain an image of the future evolution and position of the sustainability of the public debt. The work in this paper is an innovative one for the public science sector, and the results obtained are promising for future researches. The values estimated by the Kalman filter are an orientation for the future public policies, and indicate a rather stable but negative evolution for the public debt service. The sustainability of the public debt depends on the decisions taken for the correction of the estimated values, in changing the negative evolution of the budgetary indicators into a positive one.Taking all this into consideration we will conclude that the mathematical mecanism of the Kalman filters offers valuable informations for Government and future research should be oriented to develop it's returned results

Designing of an innovative extrusion system for metallic parts made by desktop 3D printing method

Desktop 3D Printing for metallic parts is a new direction and represents one of the latest trends within the Additive Manufacturing domain, being given and defined mainly by the requirements of the industrial companies in terms of materials and products that needs to be rapidly delivered on the market. The article presents an innovative solution that was developed at the Technical University of Cluj-Napoca in this domain, for the Rapid Product Development of Parts made by metal extrusion