REGULATORY COMPETENCIES OF THE INTERNATIONAL MONETARY FUND IN THE SYSTEM OF GLOBAL FINANCIAL MANAGEMENT

The subject of the analysis in the paper is the assessment of the importance of the regulatory competencies of the International Monetary Fund (IMF) in the system of global financial management. In this context, the first part of the paper points out the organizational structure and competence of the IMF in the creation of the international monetary system, while the second part of the paper summarizes the legal framework of its jurisdiction with an emphasis on determining the terms of conditionality, (as the monetary legal category), the conditionality policy procedure implementation and the legal nature of special drawing rights. The subject of the author’s special attention is the scope of work of special institutions of the IMF, which, with their activities in the circumstances of globalized economic and financial relations, as well as the consequences of the debt and now pandemic crises, have a significant impact not only on maintaining monetary stability as a public good but also on the protection of human rights to which IMF financial support programs have a significant impact. Taking into account the tendency of the expansion of the IMF’s jurisdiction as the main subject of international monetary law and the trend of hybridization embodied in the increasingly frequent mix and implementation of monetary and fiscal policy goals, as well as the complexity and far-reaching influence of its monetary legislation, the author is an opinion that in today’s circumstances, the IMF creates its law, which is established through the process of disintegration from international monetary law, and it should be studied as an independent branch of the legal order

Constrained Dynamics of Tachyon Field in FRWL Spacetime

In this paper we continue study of tachyon scalar field described by a Dirac-Born-Infeld (DBI) type action with constraints in the cosmological context. The proposed extension of the system introducing an auxiliary field in the minisuperspace framework is discussed. A new equivalent set of constraints is constructed, satisfying the usual regularity conditions.Comment: 10 pages, to be published in the Special Issue of the Facta Universitatis Series: Physics, Chemistry and Technology devoted to the SEENET-MTP Balkan Workshop BSW2019 (3-14 June 2018, Nis, Serbia

CONSTRAINED DYNAMICS OF TACHYON FIELD IN FRWL SPACETIME

In this paper, we continue the study of tachyon scalar field described by a Dirac-Born-Infeld (DBI) type action with constraints in the cosmological context. The proposed extension of the system introducing an auxiliary field in the minisuperspace framework is discussed. A new equivalent set of constraints is constructed, satisfying the usual regularity conditions

The impact of European integration on the formation of a new monetary law: The case of Serbia

This paper identifies and analyses the impact of European integration on the structure and characteristics of the modern monetary law, with a special emphasis on the characteristics of the monetary system of Serbia. A particular problem with monetary sovereignty analysis is the external effects, which are reflected in the EMU attempt to expand its authority over the territory of the Member States. This is particularly evident in the case of the candidate countries, which must harmonize their financial legislations with the acquis communautaire. Monetary policy is fully centralized at the European Union level, so Serbian lawmakers must make the necessary derogations of monetary standards in order to facilitate future accession to EMU – primarily the provisions Law of Central Bank, Law on Public Debt Management and the Foreign Exchange Act

Elektronski sistem za analizu polifaznih opterećenja baziran na FPGA

Electronic devices industry is characterized by a very dynamic growth. Such quick advancement is not recognized in other technological branches. It is exponential and it can be represented by Moore’s law, which describes long-term tendency: the number of active components integrated on circuit doubles every eighteen months, keeping constant production price. This trend stands almost fifty years, and it will stand in the near future. Moore’s law is closely related to electronic device’s properties: processor speed, memory capacity, resolution, etc. Exponential growth had immense impact on world economy and it led to significant changes in lifestyle. Consequently, electronic devices are cheaper and more available on the market. As a result, electronic equipment takes a bigger portion in overall power consumption. Electronic devices are complex circuits, consisting active semiconductor components that require direct current for polarisation. Electric energy is delivered to end users using three-phase alternating current distribution. Three-phase distribution is suitable for electric power transfer; however it cannot be directly applied to electronic circuits. Alternating current must be converted to direct current, using AC/DC power converters. Converter is electric circuit containing transformer, or switch mode power supply drawing power from the mains in pulses hence it is nonlinear. It can be analysed as two-port network with reactive and nonlinear impedance. Characterisation of power converter is performed by means of determining electrical quantities, power and power quality parameters – power factor and total harmonic distortion. In linear circuits, consisting of linear loads, the currents and voltages are sinusoidal and the power factor effect arises only from the difference in phase between the current and voltage. When nonlinear loads are present one should introduce new quantities in the calculations emanated by the harmonics and related power components. Now the power factor can be generalized to a total or true power factor where the apparent power, involved in its calculations, includes all harmonic components. This is of importance in characterization and design of practical power systems which contain non-linear loads such as rectifiers, and especially, switched-mode power supplies. Phase difference between current and voltage, as well as harmonic distortion has negative impact on distribution system. Therefore, industry standards regulate the limits (minimum) of power factor. One of the most paradigmatic examples is personal computer that typically includes switched-mode power supply (SMPS) with output power ranging from 150 W to 500 W. SMPS with passive power correction factor (PFC) can achieve power factor of about 0.7–0.75, SMPS with active PFC – up to 0.99, while SMPS without any PFC has power factor of about 0.5–0.65 in the best. Since the problem of distortion becomes ubiquitous, it can be either observed at the distribution system level, or one has to take local measurement of the properties of this kind of loads. Measurement of power factor and distortion, however, usually requires dedicated equipment. For example, use of a classical ammeter will return incorrect results when attempting to measure the AC current drawn by a non-linear load and then calculate the power factor. A true RMS multimeter must be used to measure the actual RMS currents and voltages and apparent power. To measure the real power or reactive power, a wattmeter designed to properly work with non-sinusoidal currents must be also used. Contemporary methods and algorithms for spectrum analysis are presented in this thesis. The basic definitions of parameters describing nonlinear loads in one-phase and three-phase circuits are introduced. Alternative definitions for reactive power and their calculation methods are elaborated. A new approach to polyphase load analysis is presented: system for nonlinear load characterization which is flexible, scalable, with advanced options. The solution introduced in the thesis brings all benefits of virtual instrumentation, keeping main advantage of classical instrument – determinism in measurement. The hardware component of the system is implemented using field programming gate array (FPGA) in control of data acquisition. The software part is implemented in two stages, executing on real-time operating system and general purpose operating system. Described realization provides possibility for calculating a large number of parameters that characterize nonlinear loads, which is impossible using classical instruments. This is of great importance particularly in calculation of alternate definitions of reactive power. The system is scalable; it can be upgraded in number of calculated parameters, as well as in number of independent measurement channels or functionality. The system is open; it can be modified to be a part of harmonic compensation circuitry or aimed for hardware-in-the-loop simulations. The system is flexible; it is implemented on different platforms for different purposes: as laboratory equipment for real time measurements (PXI controller equipped with PXI-7813R FPGA card and expansion chassis), as compact industrial device for real time operation (installed on programmable automation controller) or simple portable instrument equipped with computer interface. It consists of three subsystems: acquisition subsystem, real time application for parameter calculations and virtual instrument for additional analysis and data manipulation. Acquisition subsystem consists of acquisition modules for A/D conversion, FPGA circuit and interface for computer or programmable automation controller. A/D resolution is 24-bit, with 50 kSa/s sampling rate and dynamic range ±300 V for voltages and ±5 A for currents. Function of FPGA circuit is acquisition control and harmonic analysis. Real time application calculates power and power quality parameters deterministically and save calculated values on local storage. The application is executed on real time operating system. Virtual instrument for additional analysis and data manipulation represents user interface of described system. It runs on general purpose operating system, physically apart from rest of the system. Communication is achieved by TCP/IP. Parameters and values obtained by means of acquisition and calculations are presented numerically and graphically. The usage of the system is also described. Nonlinear single-phase (SMPS, LED, CFL) and three-phase loads are examined in order to present all possibilities of new system

Inflationary RSII Model with a Matter in the Bulk and Exponential Potential of Tachyon Field

In this paper we study a tachyon cosmological model based on dynamics of a 3-brane in the second Randall-Sundrum (RSII) model extended to include matter in the bulk. The presence of matter in the bulk changes warp factor which leads to modification of inflationary dynamics. The additional brane behaves effectively as a tachyon. We calculate numerically observation parameters of inflation: the scalar spectral index ($n_s$) and the tensor-to-scalar ratio ($r$) for the exponential potential of tachyon field.Comment: 9 pages, 1 figure, will be published in the Special Issue of Facta Universitatis, Series: Physics, Chemistry and Technology devoted to the SEENET-MTP Balkan Workshop BSW2018 (3-14 June 2018

Numerical Calculation of Hubble Hierarchy Parameters and Observational Parameters of Inflation

We present results obtained by a software we developed for computing observational cosmological inflation parameters: the scalar spectral index ($n_s$) and the tensor-to-scalar ratio ($r$) for a standard single field and tachyon inflation, as well as for a tachyon inflation in the second Randall-Sundrum model with an additional radion field. The calculated numerical values of observational parameters are compared with the latest results of observations obtained by the Planck Collaboration. The program is written in C/C++. The \textit{GNU Scientific Library} is used for some of the numerical computations and R language is used for data analysis and plots.Comment: 8 pages, 5 figures, based on talk presented at The 10th Jubilee Conference of the Balkan Physical Union (BPU10), 26-30 August 2018 (Sofia, Bulgaria

Push i pull faktori koji utiču na razvoj vinskog turizma rejona Tri Morave

The subject of this paper are the factors affecting the decision of wine tourists to take a trip to a particular destination. These factors can be divided into internal (push) and external (pull) factors. The purpose of this study is to determine the development potential as well as the factors that influence participation in wine tourism in Tri Morave sub-region. In order to do that, two researches were conducted: one on the offer side and another on the demand side. Based on the results of the survey on the offer side, one can conclude that Tri Morave sub-region abounds in natural and anthropological resources that should be turned into an integrated wine product. On the other hand, research concerning tourist demand was conducted by polling winery visitors. The obtained data confirms assumptions about the appearance of modern tourists seeking authentic experience, satisfaction of hedonistic needs, and enjoyment of high-quality wine and food. Based on the results of the survey, the purchase of wine and wine tasting are the highest ranked benefits that tourists expect from visits to wineries. The application of Spearman's correlation coefficient points to statistically significant correlation between respondents, who referred to tasting, wine purchase, and authentic tourist experience as the basic motives of their visit, and future behavior of tourists in terms of revisiting and recommendations of the given wine destination to friends.Predmet ovog rada predstavljaju push i pull faktori koji utiču na odluku vinskog turiste o preduzimanju putovanja u određenu destinaciju. Ovi faktori mogu biti podeljeni na interne (pull) i eksterne (push) faktore. Cilj rada je da se utvrdi razvojni potencijal, kao i faktori koji utiču na učesnike vinskog turizma u rejonu Tri Morave. U tu svrhu sprovedena su dva istraživanja: jedno na strani ponude, a drugo na strani tražnje. Na osnovu rezultata istraživanja na strani ponude, može se zaključiti da rejon Tri Morave obiluje prirodnim i antropogenim resursima koji bi trebalo biti oblikovani u integrisani vinski proizvod. Na drugoj strani, istraživanje koje se tiče turističke tražnje je sprovedeno ispitivanjem posetilaca vinarija.Prikupljeni podaci potvrđuju pretpostavke o pojavi modernog turiste u potrazi za autentičnim iskustvom, zadovoljenjem hedonističkih potreba i uživanjem u kvalitetnom vinu i hrani. Na osnovu rezultata istraživanja, kupovina i degustacija vina su najviše rangirane koristi koje turisti očekuju od posete vinarijama.Primenom Spearmanovog koeficijenta korelacije je utvrđeno da postoji statistički značajna veza između ispitanika koji su kao osnovne motive svoje posete naveli degustaciju, kupovinu vina i sticanje autentičnog turističkog doživljaja i budućeg ponašanja turista u smislu ponovne posete i preporuke prijateljima date vinske destinacije

DESIGN OF A MAXIMUM POWER POINT TRACKING CONTROLLER FOR A PV SYSTEM

In the first part of this paper, the photovoltaic (PV) panel-to-DC/DC converter interface was studied experimentally and by simulation. Quantities were defined to characterize the properties of the signals being DC with proper AC component due to the switching in the converter. In the second part an improved maximum power point tracking (MPPT) algorithm and also the results of its implementation into the standalone PV system were presented