Whether Fiscal Stance or Monetary Policy is Effective for Economic Growth in Case of South Asian Countries?

The relative significance of fiscal and monetary policy has been one of the most unsettled issues in economics. Relevant literature shows that the study of the effectiveness of monetary and fiscal policy is equivalent to the study of the relative efficacy of Keynesian economics and monetarism. This study investigates the relative effectiveness of both types of policies in the context of modern panel data analysis in case of South Asian Countries during the period from 1990 to 2007 to test the Monetarist and Keynesian claims, and to find out that whether the policy instruments have a significant relationship with economic growth. Im, Pesaran, and Shin and Levin, Lin, and Chu tests have been used to investigate the order of integration. For long run and short run relationship we utilis ed the advance Autoregressive Distributed Lag Model ARDL a co-integration (panel) test and ECM (Error Correction Method) respectively.Fiscal Policy, Monetary Policy, Panel Co-integration

Linearizability of Systems of Ordinary Differential Equations Obtained by Complex Symmetry Analysis

Five equivalence classes had been found for systems of two second-order ordinary differential equations, transformable to linear equations (linearizable systems) by a change of variables. An "optimal (or simplest) canonical form" of linear systems had been established to obtain the symmetry structure, namely with 5, 6, 7, 8 and 15 dimensional Lie algebras. For those systems that arise from a scalar complex second-order ordinary differential equation, treated as a pair of real ordinary differential equations, a "reduced optimal canonical form" is obtained. This form yields three of the five equivalence classes of linearizable systems of two dimensions. We show that there exist 6, 7 and 15-dimensional algebras for these systems and illustrate our results with examples

An Elliptic Curve-based Signcryption Scheme with Forward Secrecy

An elliptic curve-based signcryption scheme is introduced in this paper that effectively combines the functionalities of digital signature and encryption, and decreases the computational costs and communication overheads in comparison with the traditional signature-then-encryption schemes. It simultaneously provides the attributes of message confidentiality, authentication, integrity, unforgeability, non-repudiation, public verifiability, and forward secrecy of message confidentiality. Since it is based on elliptic curves and can use any fast and secure symmetric algorithm for encrypting messages, it has great advantages to be used for security establishments in store-and-forward applications and when dealing with resource-constrained devices.Comment: 13 Pages, 5 Figures, 2 Table

Emotional Intelligence and Academic Achievement of university students

This research was conducted to explore the emotional intelligence of university students and its relationship with their academic achievement. Through multistage random sampling technique sample of 400 students of undergraduate (BS) final semester was selected including 160 males and 240 females from all the BS students studying in 14 departments out of 7 faculties of university of Sargodha main campus. Bar on Emotional Quotient Inventory (Short form) was adapted as a research instrument validated through expert’s opinions and pilot testing with reliability coefficient Cronbach Alpha values 0.86. Data were analyzed through descriptive and inferential statistics. Major conclusions were; majority of BS students had markedly high level emotional intelligence and had excellent, very good and good levels of academic achievement. Female BS students had higher academic achievement than male BS students but emotional intelligence level was equal. There was significant moderately strong and positive relationship between academic achievement and emotional intelligence of BS students. For students having low level in different sub factors of the emotional intelligence it is recommended that university may design sport activities, seminars, and workshops for students to increase emotional stability and ultimately increase in emotional intelligence. 

Money Supply, Food Prices and Manufactured Product Prices: A Causality Analysis for Pakistan Economy

This pioneer research for Pakistan uses monthly time series data for the period of 1997-1 to 2008-4 to determine the causal relationship between the money supply, food prices and manufactured product prices in developing country like Pakistan. Empirical analysis is performed by using the ARDL and Toda Yamamoto causality test. The results show that the bidirectional causality between the food prices and money supply and unidirectional causality from money supply to manufactured product prices. On the other hand there is no causal relationship between the food prices and manufactured product prices. The important finding of this study is that food prices response faster then the manufactured product prices to a change in money supply in the Pakistan.