9,860 research outputs found

    A comparative study of parametric mortality projection models

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    The relative merits of different parametric models for making life expectancy and annuity value predictions at both pensioner and adult ages are investigated. This study builds on current published research and considers recent model enhancements and the extent to which these enhancements address the deficiencies that have been identified of some of the models. The England & Wales male mortality experience is used to conduct detailed comparisons at pensioner ages, having first established a common basis for comparison across all models. The model comparison is then extended to include the England & Wales female experience and both the male and female USA mortality experiences over a wider age range, encompassing also the working ages

    Contemporary Issues in Current Account Operations in Pakistani IBs - Sharia Compliant Solution

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    Contemporary Sharia scholars have three stances about the Current Account Operations in Pakistani Islamic Banks (IBs) i.e., (i) Ijarah based contract (ii) Wadi'ah based contract, and (iii) Qard based contract. This paper is an attempt to delve into the root causes of the differences of scholars and to find the Sharia-compliant solution acceptable for all. Descriptive as well as applied approaches are used in this paper. Clearing of ambiguity on this issue may result in twofold benefits: from the public point of view, it would satisfy practising Muslims which may result in form of huge deposits in this account (ii) from IBs viewpoint the Current Account is a bonus deposit


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    ABSTRACT This study re-examines the exchange rate-monetary fundamentals link with in a panel data framework. Pure time series and pooled time series-based tests fail to find empirical support for monetary exchange rate models (Sarantis (1994) and Groen (2000)). Using recently developed Panel Data Techniques; we would test the exchange rates and monetary fundamentals in a quarterly panel of 19 countries mostly from developed region extending from 1973.1 to 1997.1. Present analysis would be centered on three issues. First, we test whether exchange rates cointegrated with long run determinants predicted by economic theory. For this purpose, we would be employed Pedroni (1997) and Larsson et al (2001) panel cointegration tests for empirical validation of the study. Second, we will also test the short run implications of exchange rate model. These short run implications will be tested; through adapting the panel VEC model the short run identification schemes of Johansen and Juselius (1994). The last issue is to examine the ability for monetary fundamentals to forecast future exchange rate returns. The present endeavor will follow Mark and Sul (2001) approach for forecasting in the case of Panel Data Testing.Panel cointegration; Prediction; Exchange rates.

    Allometry and growth of eight tree taxa in United Kingdom woodlands.

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    This work is licensed under a Creative Commons Attribution 4.0 International License. The images or other third party material in this article are included in the article’s Creative Commons license, unless indicated otherwise in the credit line; if the material is not included under the Creative Commons license, users will need to obtain permission from the license holder to reproduce the material. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0As part of a project to develop predictive ecosystem models of United Kingdom woodlands we have collated data from two United Kingdom woodlands - Wytham Woods and Alice Holt. Here we present data from 582 individual trees of eight taxa in the form of summary variables relating to the allometric relationships between trunk diameter, height, crown height, crown radius and trunk radial growth rate to the tree's light environment and diameter at breast height. In addition the raw data files containing the variables from which the summary data were obtained. Large sample sizes with longitudinal data spanning 22 years make these datasets useful for future studies concerned with the way trees change in size and shape over their life-span

    Bond-forming and electron-transfer reactivity between Ar2+ and N2

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    Collisions between Ar2+ and N2 have been studied using a coincidence technique at a CM collision energy of 5.1 eV. Four reaction channels generating pairs of monocations are observed: Ar+ + N2+, Ar+ + N+, ArN+ + N+ and N+ + N+. The formation of Ar+ + N2+ is the most intense channel, displaying forward scattering but with a marked tail to higher scattering angles. This scattering, and other dynamics data, is indicative of direct electron transfer competing with a ‘sticky’ collision between the Ar2+ and N2 reactants. Here Ar+ is generated in its ground (2P) state and N2+ is primarily in the low vibrational levels of the C2Σu+ state. A minor channel involving the initial population of higher energy N2+ states, lying above the dissociation asymptote to N+ + N, which fluoresce to stable states of N2+ is also identified. The formation of Ar+ + N+ by dissociative single electron transfer again reveals the involvement the two different pathways for the initial electron transfer (direct or complexation). This reaction pathway predominantly involves excited states of Ar2+ (1D and 1S) populating N2+* in its dissociative C2Σu+, 22Πg and D2Πg states. Formation of ArN+ + N+ proceeds via a direct mechanism. The ArN+ is formed, with significant vibrational excitation, in its ground (X3Σ–) state. Formation of N+ + N+ is also observed as a consequence of double electron transfer. The exoergicity of the N22+ dissociation reveals the population of the A1Πu and D3Πg dication states

    Terrorism Activities Influence on Financial Stock Markets: An Empirical Evidence from United Kingdom, India, France, Pakistan, Spain and United States

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    The study investigats the impact of terrorism activities on five economies (Developing and Developed) financial stock markets. Spain, United Kingdom, India, Pakistan, America and France were chosen for the analysis. The variables considered were terrorist activities and market return of the financial stock markets. Daily time series data for the period from 1st Jan 2001 to 31st Dec 2018 was analyzed by applying simple linear regression model to estimate the effects of terrorist activities on financial stock market returns of the selected countries. The results suggest that the market return is affected by the terror events and the model is overall statistically significant. The results of this study are consistent with findings of Freytag et al. (2009) and Basuchoudhary and Shughart (2010). Significant influence of terrorist activities on financial market returns offer financial markets stakeholders not only an understanding of the direction of market swing following terror factors on stock market but also offers guidance towards investment decision making and timing. Study further discussed how terrorism activities influence the overall market return