52,739 research outputs found
Cointegration and the demand for gasoline
Since the early 1970s there has been a worldwide upsurge in the price of energy and in particular of gasoline. Therefore, demand functions for energy and its components like gasoline have received much attention. However, since confidence in the estimated demand functions is important for use in policy and forecasting, following Amarawickrama and Hunt (2008), this paper estimates the demand for gasoline is estimated with 6 alternative time series techniques with data from Fiji. Estimates with these 6 alternative techniques are very close and thus increase our confidence in them. We found that gasoline demand is both price and income inelastic
Cointegration and the demand for gasoline
Since the early 1970s there has been a worldwide upsurge in the price of energy and in particular of gasoline. Therefore, demand functions for energy and its components like gasoline have received much attention. However, since confidence in the estimated demand functions is important for use in policy and forecasting, following Amarawickrama and Hunt (2008), this paper estimates the demand for gasoline is estimated with 6 alternative time series techniques with data from Fiji. Estimates with these 6 alternative techniques are very close and thus increase our confidence in them. We found that gasoline demand is both price and income inelastic.Gasoline Demand, Income and price elasticities, Cointegration
ARE US GASOLINE PRICE ADJUSTMENTS ASYMMETRIC?
We use the LSE-Hendry general to specific approach to analyse if US gasoline price adjustments are asymmetric with respect to changes in crude oil prices. Furthermore, we modify some weaknesses in the earlier works by Boreinstein, Cameron and Gilbert (1997) and Bachmeier and Griffin (2003) and shows that if the price adjustment equations are properly specified and estimated, alternative specifications and temporal aggregation of data do not affect the results. Monthly US data are used to show that alternative specifications give equally good results and there is no asymmetry in the US gasoline price adjustments.Asymmetric price adjustments, Market power, General to specific approach, Error correction models and Gasoline and crude oil prices
Human comfort in relation to sinusoidal vibration
An investigation was made to assess the overall subjective comfort levels to sinusoidal excitations over the range 1 to 19 Hz using a two axis electrohydraulic vibration simulator. Exposure durations of 16 minutes, 25 minutes, 1 hour, and 2.5 hours have been considered. Subjects were not exposed over such durations, but were instructed to estimate the overall comfort levels preferred had they been constantly subjected to vibration over such durations
Unsteady flow model for circulation-control airfoils
An analysis and a numerical lifting surface method are developed for predicting the unsteady airloads on two-dimensional circulation control airfoils in incompressible flow. The analysis and the computer program are validated by correlating the computed unsteady airloads with test data and also with other theoretical solutions. Additionally, a mathematical model for predicting the bending-torsion flutter of a two-dimensional airfoil (a reference section of a wing or rotor blade) and a computer program using an iterative scheme are developed. The flutter program has a provision for using the CC airfoil airloads program or the Theodorsen hard flap solution to compute the unsteady lift and moment used in the flutter equations. The adopted mathematical model and the iterative scheme are used to perform a flutter analysis of a typical CC rotor blade reference section. The program seems to work well within the basic assumption of the incompressible flow
Investment Ratio and Growth
In growth and development policy investment ratio is an important policy instrument. However, there is no well defined framework to determine what should be the investment ratio for a given growth target. This paper explains the potential of Solow (1956) and Solow (1957) to explain the relationship between the target growth rate and investment ratio. Hypothetical data are used for illustration.Investment ratio, Growth targets, Growth accounting, Total Factor Productivity, Neo classical growth model.
The Nature of the ADAS Model Based on the ISLM Model
The aggregate demand and supply model (ADAS) is interpreted as a synthesis of the Keynesian and neoclassical models. It uses the ISLM model, without explaining its nature, to derive aggregate demand (AD). It is combined with an aggregate supply (AS) curve to explain price- inflation and output dynamics. This paper argues that neither the AD nor AS curve is conceptually the same as its microeconomic counterpart and ADAS is not a synthesis. In fact ADASimplies that discretionary policy is necessary and that price changes do not perform their traditional negative feedback function.eynesian and neo classical models, aggregate demand and supply, monetary policy rule, price adjustments, stabilization policy
Testing Permanent Income Hypothesis for Fiji
Hall has stimulated considerable controversy and empirical work on testing the validity of the permanent income hypothesis . Much of this work is on the developed countries. In the developing countries incomes show larger fluctuations and for the majority opportunities for inter-temporal substitution are limited. This paper uses the extended framework of Campbell and Mankiw (1989) and finds that current consumption is determined by current income for more than two thirds of the consumers in Fiji.Consumption function, Developing countries, Fiji, Permanent income hypothesis, Hall's random walk hypothesis, Campbell-Mankiw tests.
Experimental investigations on the impedance behavior of a short, cylindrical antenna in a lossy magnetoplasma
Impedance of cylindrical antennas in lossy magnetoplasmas and interpretations of maxima in cosmic noise intensities and ionogram
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