Volatility Spillover Between the Stock Market and the Foreign Exchange Market in Pakistan

Our paper examines the volatility spillover between the stock market and the foreign exchange market in Pakistan. For long run relationship we use Engle Granger two step procedure and the volatility spillover is modelled through bivariate EGARCH method. The estimated results from cointegration analysis show that there is no long run relationship between the two markets. The results from the volatility modelling show that the behaviour of both the stock exchange and the foreign exchange markets are interlinked. The returns of one market are affected by the volatility of other market. Particularly the returns of the stock market are sensitive to the returns as well as the volatility of foreign exchange market. On the other hand returns in the foreign exchange market are mean reverting and they are affected by the volatility of stock market returns. There is strong relationship between the volatility of foreign exchange market and the volatility of returns in stock market

Volatility Spillover Between the Stock Market and the Foreign Exchange Market in Pakistan

Our paper examines the volatility spillover between the stock market and the foreign exchange market in Pakistan. For long run relationship we use Engle Granger two step procedure and the volatility spillover is modelled through bivariate EGARCH method. The estimated results from cointegration analysis show that there is no long run relationship between the two markets. The results from the volatility modelling show that the behaviour of both the stock exchange and the foreign exchange markets are interlinked. The returns of one market are affected by the volatility of other market. Particularly the returns of the stock market are sensitive to the returns as well as the volatility of foreign exchange market. On the other hand returns in the foreign exchange market are mean reverting and they are affected by the volatility of stock market returns. There is strong relationship between the volatility of foreign exchange market and the volatility of returns in stock market.Stock Market; Forex Market; EGARCH; Volatility Spillover; Stock market return; Foreign Exchange return; Pakistan

Volatility Spillover between the Stock Market and the Foreign Market in Pakistan

Our paper examines the volatility spillover between the stock market and the foreign exchange market in Pakistan. For the longrun relationship we use the Engle Granger two-step procedure and the volatility spillover is modelled through the bivariate EGARCH method. The estimated results from cointegration analysis show that there is no long-run relationship between the two markets. The results from the volatility modelling show that the behaviours of both the stock exchange and the foreign exchange markets are interlinked. The returns of one market are affected by the volatility of the other market. Particularly, the returns of the stock market are sensitive to the returns as well as the volatility of the foreign exchange market. On the other hand, returns in the foreign exchange market are mean-reverting, and they are affected by the volatility of stock market returns. There is a strong relationship between the volatility of the foreign exchange market and the volatility of returns in the stock market.Stock Market, Forex Market, EGARCH, Volatility Spillover, Stock Market Returns, Foreign Exchange Return, Pakistan

Volatility Spillover between the Stock Market and the Foreign Market in Pakistan

Our paper examines the volatility spillover between the stock market and the foreign exchange market in Pakistan. For the longrun relationship we use the Engle Granger two-step procedure and the volatility spillover is modelled through the bivariate EGARCH method. The estimated results from cointegration analysis show that there is no long-run relationship between the two markets. The results from the volatility modelling show that the behaviours of both the stock exchange and the foreign exchange markets are interlinked. The returns of one market are affected by the volatility of the other market. Particularly, the returns of the stock market are sensitive to the returns as well as the volatility of the foreign exchange market. On the other hand, returns in the foreign exchange market are mean-reverting, and they are affected by the volatility of stock market returns. There is a strong relationship between the volatility of the foreign exchange market and the volatility of returns in the stock marketStock Market, Forex Market, EGARCH, Volatility Spillover, Stock Market Returns, Foreign Exchange Return, Pakistan

Integrasi realiti terimbuh (AR) dalam aktiviti mewarna

Mewarna merupakan salah satu kaedah pembelajaran yang digunakan untuk meningkatkan kemahiaran psikomotor dan kreativiti kanak-kanak. Namun begitu, kandungan yang disediakan di dalam buku mewarna adalah bersifat statik dan tidak menyediakan elemen-elemen dinamik seperti interaktiviti. Kanak-kanak mudah merasa bosan kerana tiada interaksi dua hala yang berlaku antara mereka dan karakter ketika proses mewarna dilakukan. Sebagai penambahbaikan terhadap permasalahan tersebut, satu aplikasi mewarna yang dinamakan Dr Bubble Coloring AR dibangunkan. Aplikasi ini menggunakan teknik realiti terimbuh (AR) yang diintegrasikan ke dalam aplikasi mewarna. Imej yang diwarnakan menjadi penanda untuk diimbas oleh peranti mudah alih lalu dipaparkan secara maya dalam bentuk tiga dimensi (3D). Aplikasi ini menyediakan bebutang interaksi bagi membolehkan pengguna berinteraksi dengan karakter serta mengesan objek yang diwarnakan di dalam buku mewarna. Secara keseluruhan, 75% responden sangat bersetuju aplikasi ini menarik dan menyeronokkan, manakala 84% responden sangat bersetuju keseluruhan aplikasi ini berfungsi dengan baik dan sempurna

Parametric Study of Aerodynamic Performance of an Airfoil with Active Circulation Control Using Leading Edge Embedded Cross-Flow Fan

A concept of a cross-flow fan (CFF) embedded near the leading edge of an airfoil to actively control the boundary layer for lift and thrust enhancement has been proposed. The design places a cross-flow fan near the leading edge of an airfoil and flow is drawn in from the pressure side of the airfoil, energized and expelled out to the suction side near the leading edge. This CFF system simulates the active boundary layer control by blowing commercial computational fluid dynamics (CFD) code ANSYS Fluent is employed to perform 2-D calculations based on various parameters of the CFF and compared the data with an experimental baseline case found in literature. The effect of number of blades, pressure side slat opening, suction side slat angle, hub-to-shroud ratio and blade pitch angle have on aerodynamic parameters have been investigated. Regression models are established using the acquired data to find combination of parameters for achieving higher circulation control. Unsteady sliding mesh method is used to carry out the numerical simulation. The fan geometry is developed and housed in a NACA 651-212 airfoil. The of the CFD work show that the jet leaving the fan replaces the boundary layer of the upstream flow with a flow of very high velocity. This high velocity flow causes a higher pressure difference between the suction and the pressure side generating higher lift in the process. The drag of the airfoil is overcame and a net thrust is observed by CFF blowing phenomenon

Spawning frequencies and breeding seasons of some freshwater fishes with special reference to those occurring in the plains of northern India

It is well known that the differences in the spawning behaviour of teleosts can to a certain extent be illustrated on the basis of the condition revealed by • the unspawned eggs in the ovary (Heidrich, 1925; Clark, 1925, 1934; Hickling and Rutenberg, 1936). Many studies on the ova diameter frequencies have been undertaken during recent years and in almost all cases it has been accepted that species which have all the ovarian eggs of similar size spawn them together whereas those which have a wide range in oocyte sizes may have several groups of eggs matured and shed periodically during the breeding seaso

A weighted companion of Ostrowski's inequality using three step weighted kernel

There are numerous works suggesting linking SSM models to information systems (IS) models for information systems development. In these works links between SSM and IS models are established at the conceptual level i.e. they provide ways to utilise SSM models to identify or to derive IS models. However, most of them have not provided a method for representing the links explicitly in the combined model. Consequently, the links become subtle and untraceable, looking at the combined model only at the representation level. This paper proposes an approach based on meta modelling to achieve a uniform and formalised representation of models that combine SSM and IS models. The approach allows one to represent not only SSM and IS modelling concepts but also relationships between the concepts in a meta model using the conceptual modelling language Telos. Telos supports meta models to be flexibly specified and extended to meet specific modelling requirements of a particular project. An exemplary application is presented to demonstrate the operationalisation of the proposed approach and to illustrate the uniform representation of combined models. The example also shows benefits of the formalised representation in terms of computer support for managing and retrieving a combined model's meta data