25 research outputs found

    The Long-Run Relationship among Money, Income And The Price Level In Pakistan

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    This paper explores whether a significant long-run relationship exists between money, price level and GDP in the Pakistani economy. We apply time-series econometric techniques to quarterly data for the Pakistan economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and Cointegration. Certain characteristics of the Pakistani experience suggest that there is a stable long run relationship. Radical changes in monetary policy have significantly affected the movement of the macroeconomy. We find that a long-run relationship exists between money supply (M1), GDP and the CPI

    The Long-run Relationship among Money, Income and the Price Level in Pakistan

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    This paper explores whether a significant long-run relationship exists between money, price level and GDP in the Pakistani economy. We apply time-series econometric techniques to quarterly data for the Pakistan economy for 1972: I to 2003: IV. An important feature of our analysis is the use of tests for unit roots and ARDL and ECM. ARDL has a numerous advantages over the traditional approaches of causality and Cointegration. Certain characteristics of the Pakistani experience suggest that there is a stable long run relationship. Radical changes in monetary policy have significantly affected the movement of the macroeconomy. We find that a long-run relationship exists between money supply (M1), GDP and the CPI

    Role of tourism in long term economic growth in Pakistan

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    Tourism activities are multi-pronged with mostly positive impact on any economy. This study attempts to investigate the role of tourism in the long run economic development in case of Pakistan. The tourism led growth hypothesis is confirmed through autoregressive distributed lag (ARDL) and vector error correction model econometric framework using a time series data for the years that span from 1975 to 2005. The study explores the potential contribution of tourism to economic growth and development. The combination of results pointed a stable long run relationship among tourism, exchange rate and economic expansion in the Pakistan economy. The results show that receipts from the tourism industry significantly contribute to the current level of gross domestic product and the economic growth of Pakistan economy both in short run and long run. Our findings imply that Pakistan could enhance its shortrun economic growth by strategically strengthening its tourism industries

    The impact of terrorism on tourism demand in Pakistan

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    The terrorist attacks of September 11, 2001 in the United States (US) exposed the vulnerabilities of the tourism industry to changes in perception as to travel safety and security. Terrorism and threats to national security are documented to have impacts on tourism demand. Tourism activities are multi-pronged with mostly positive impact on any economy. This study attempts to investigate impacts of terrorist incidents in Pakistan. The proposed approach is a stated OLS and Autorgrasive distributed lag Modem (ARDL) model from 1985 to 2008 taken at different points in time in relation to terrorist attacks. Results show that the attacks caused a shock to tourists’ utility, and a change in the image profile of destinations. Moreover, it was found that destination experienced a strongly negative impact on their image and attractiveness

    Role of Tourism in Economic Growth: Empirical Evidence from Pakistan Economy

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    Tourism activities are considered to be one of the major sources of economic growth. It can be regarded as a mechanism of generating the employment as well as income in both formal and informal sectors. Tourism supplements the foreign exchange earnings derived from trade in commodities and some times finance the import of capital goods necessary for the growth of manufacturing sectors in the economy. On the other hand rapid economic growth in the developed economies attracts foreign travels (Business travels), which leads to an increase in the foreign reserve of the country. Over the past several decades, international tourism has been gaining importance in many economies of the world. According to the World Tourism Organisation (2002), expenditures by 693 million international tourists traveling in 2001 totaled US 462billion,roughlyUS 462 billion, roughly US 1.3 billion per day worldwide. In addition, tourists spending have served as an alternative form of exports, contributing to an ameliorated balance of payments through foreign exchange earnings in many countries. The rapid growth of tourism led to a growth of household incomes and government revenues directly and indirectly by means of multiplier effects, improving balance of payments and provoking tourism-promoted government policies. As a result, the development of tourism has generally been considered a positive contribution to economic growth

    Statistical Approach for Yield Optimization for Minimum Energy Operation in Subthreshold Circuits Considering Variability Issues

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    The supply voltage (V-dd) and threshold voltage (V-th) are two significant design variables that directly impact the performance and power consumption of circuits. The scaling of these voltages has become a popular option to satisfy performance and low power requirements. Subthreshold operation is a compelling approach for energy-constrained applications where processor speed is less important. However, subthreshold designs show dramatically increased sensitivity to process variations due to the exponential relationship of subthreshold drive current with V-th variation and drastically growing leakage power. If there is uncertainty in the value of the threshold or supply voltage, the power advantages of this very low-voltage operation diminishes. This paper presents a statistical methodology for choosing the optimum V-dd and V-th under manufacturing uncertainties and different operating conditions to minimize energy for a given frequency in subthreshold operation while ensuring yield maximality. Unlike the traditional energy optimization, to find the optimal values for the voltages, we have considered the following factors to make the optimization technique more acceptable: the application-dependent design constraints, variations in the design variables due to manufacturing uncertainty, device sizing, activity factor of the circuit, and power reduction techniques. To maximize the yield, a two-level optimization is employed. First, the design metric is carefully chosen and deterministically optimized to the optimum point in the feasible region. At the second level, a tolerance box is moved over the design space to find the best location in order to maximize the yield. The feasible region, which is application dependent, is constrained by the minimum performance and the maximum ratio of leakage to total power in the V-dd-V-th plane. The center of the tolerance box provides the nominal design values for V-dd and V-th such that the design has a maximum immunity to the variations and maximizes the yield. The yield is estimated directly using the joint cumulative distribution function over the tolerance box requiring no numerical integration and saving considerable computational complexity for multidimensional problems. The optimal designs, verified by Monte Carlo and SPECTRE simulations, demonstrate significant increase in yield. By using this methodology, yield is found to be strongly dependent on the design metrics, circuit switching activity, transistor sizing, and the given constraints

    Self-Assembly of Coil/Liquid-Crystalline Diblock Copolymers in a Liquid Crystal Solvent

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    Diblock copolymers having a random-coil polymer block (polystyrene, PS) connected to a side-group liquid crystal polymer (SGLCP) self-assemble in a nematic liquid crystal (LC), 4-pentyl-4′-cyanobiphenyl, into micelles with PS-rich cores and SGLCP-rich coronas. The morphologies of block copolymers with varying PS content are characterized as a function of temperature and concentration using small-angle neutron scattering, rheometry, and transmission electron microscopy. Unlike conventional solvents, the nematic LC can undergo a first-order transition between distinct fluid phases, accessing the regimes of both strong and slight selectivity in a single polymer/solvent pair. Micelles dissolve away above a microphase separation temperature (MST) that is often equal to the solution’s isotropization point, TNI. However, increasing or decreasing the polymer’s PS content can shift the MST to be above or below TNI, respectively, and in the former case, micelles abruptly swell with solvent at TNI. Comparable effects can be achieved by modulating the overall polymer concentration

    pH-responsive aqueous/LC interfaces using SGLCP-b-polyacrylic acid block copolymers

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    Block copolymers that combine a side-group liquid crystalline polymer (SGLCP) block and a pH-responsivehydrophilic block, poly(acrylic acid) (PAA), are shown to confer pH-dependent anchoring of the director orientation at the aqueous/LC interface. The SGLCP block, poly(4-cyanobiphenyl-4-oxyundecylacrylate), was chosen based on its ability to influence the director field of the 5CB (4-cyano-4'-pentylbiphenyl). At low pH the PAA block collapses and the inherent, planar alignment tendency of 5CB at a water interface prevails. As pH increases, the polyelectrolyte block becomes increasingly charged and expands, producing a change to homeotropic anchoring. The change in anchoring occurs as quickly as the buffer can be changed (within ~2 s) and is reversible, with a response that is repeatable over as many cycles as were tested (approximately 20 cycles). The polymer-mediated anchoring persists for 6 days, indicating that the SGLCP block secures the self-assembled layer on the 5CB, even under conditions that cause repulsive interactions among the PAA blocks. Thus, SGLCP blocks can translate conformational changes of a responsive hydrophilic block into rapid, reversible changes in the director fiel

    EFFECT OF SLOPE STEEPNESS AND WHEAT CROP ON SOIL, RUNOFF AND NUTRIENT LOSSES IN ERODED LAND OF MALAKAND AGENCY, NWFP, PAKISTAN

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    ABSTRACT Field experiment was conducted during 2003-2005 on slopping land near Thana Malakand Agency, NWFP on wheat plots in comparison with bare plots. The test plots were maintained at three slope positions, i.e. top-slope (6 %), mid-slope (3 %) and bottom-slope (0 %). The effect of both slope position and wheat crop was statistically significant on runoff, soil and nutrient losses. The respective losses of runoff and soil were 33 and 42% higher from mid-slope as compared to bottom-slope, 24 and 30 % higher from top-slope as compared to mid-slope, and 49 and 59 % higher from top-slope as compared to bottom-slope. Wheat crop reduced runoff losses by 60 % and soil losses by 64% as compared to bare plots. The order of nutrient losses from all plots during the experimental period was: K > OM > N > Fe > P > Cu > Mn > Zn. Nutrient enrichment ratio of the sediments was greater than 1 for all the nutrients which indicated higher losses of nutrients through surface runoff. From the effect of slope and wheat crop on soil and runoff losses, empirical equations were developed which can be expressed as: E
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