Exchange Rate Misalignment in Pakistan: Evidence from Purchasing Power Parity Theory

This paper examines the validity of the purchasing power parity to evaluate whether the Pakrupee vis-à-vis the US-dollar has been overvalued since the introduction of managed floating exchange rate. The Johansen multivariate cointegration technique is applied for the period 1982Q2-2002Q4. A single cointegrating vector is identified whose coefficients conform in broad terms to the restriction implied by the PPP theory, lending support to the interpretation of the model as describing a long-run relationship. This support is reinforced by the results derived from the adjustment coefficient, which is identifies clear short-run tendency for the exchange rate to revert to the equilibrium value defined by the estimated long-run model. Furthermore, exchange rate misalignment is also calculated using the estimated long-run relationship to evaluate whether the Pak-rupee vis-à-vis the US-dollar was undervalued or overvalued since the inception of managed floating exchange rate system. Calculated misalignment shows a substantial undervaluation of the Pak-rupee vis-à-vis the US dollar.Exchange Rate, Pakistan

Export Function Estimates for the Pakistan Carpet Industry

This paper explores the behaviour of exports of ‘exotic’ carpets/rugs from Pakistan over the period from 1970-2003. These rugs are sold purely for decorative purposes mainly to the major Western economies. This sector of world trade has been neglected by economists as there is only one study of Iranian carpet trade [Karimi (2003)] which has so far only been presented as a short abstract. In this paper we review the historic background to the carpet making industry in Pakistan and look at its current conditions of production. We then go on to estimate an error correction model using conventional trade-related explanatory variables which include the volatility of exchange rates which has been increasingly a focus of such research. The results are broadly supportive of the existing aggregate and disaggregate literature for other countries. Given that the dominant rival supplier—Iran was subjected to constant and varying trade volume rationing activities by the USA, we then attempt to take this into account using measures of Iranian trade disadvantage. These results show that the problems faced by Iranian exporters have had a statistically significant positive impact on the Pakistan carpet export supply function

Microwave Assisted Synthesis of BenzilideneBenzylamine and Its Acetylcholinesterase and Butyrylcholinesterase Activity

BenzilideneBenzylamine the derivative of Schiff bases contain azomethine group already used widely for industrial purposes and have wide range of biological activities. Benzilidene Benzylamine were synthesized by microwave irradiation reacting different aromatic and aniline purified pure crystal, 85% yield obtained reaction monitor by TLC. The Anticholinesterase activity utilized spectrophotometric Ellman assay for determination of butyrylcholinesterase and acetylcholinesterase. The synthesis compound 1 – 6 showed a wide range of inhibitory activity the compound 3((E)-N-(4-fluorobenzylidene)aniline) at 1000µg/mL, 71.62±0.74 percent inhibitory acetylcholinesterase potential while compound 6 ((E)-4 ((phenylimino)methyl) benzaldehyde) at 500 and 1000 µg/mL at IC50 show 71.68±0.22, 77.84±0.32 percent inhibitory potential comparatively greater than standard Galanthamine at 62.5µg/mL, 74.10±0.90 at IC50. The butyrylcholinesterase activity of compound 6 ((E)-4 ((phenylimino)methyl)benzaldehyde) at 1000 µg/mL, show 75.83±1.07 percent inhibitory potential which is similar to standard compound at 62.5µg/mL concentration of 75.45±0.90 percent butyrylcholinesterase inhibitory activity

Exchange Rate Misalignment in Pakistan: Evidence from Purchasing Power Parity Theory

Exchange rate provides a key link between the domestic and world markets for goods and assets. Therefore, a proper and detailed analysis of the behaviour of exchange rate is required. There is also growing agreement that prolonged and substantial exchange rate misalignment can create severe macroeconomic disequilibria and the correction of external balance will require both exchange rate devaluation and demand management policies. Thus the policy-makers have used PPP theory as a guide to represent the external competitiveness of a country, and as a benchmark against which floating exchange rates are judged to be misaligned. Developments in 1990s and 2000s show that cost associated with exchange rate misalignment is very high. Hence, the analysis of exchange rate determination in the presence of exchange rate misalignment is crucial for the policy purpose because of its role as a component of an early warning system [Berg, et al. (2000)]

Usporedba antioksidativne i antimikrobne aktivnosti fenolnih spojeva, ekstrahiranih iz pet vrsta biljaka roda Hypericum

Phenolic compounds were extracted from five Hypericum species (H. perforatum, H. oblongifolium, H. monogynum, H. choisianum and H. dyeri Redher) using ethanol. The crude extract (called fraction 1) was then fractionated using re-extraction to water (fraction 2), ethyl acetate (fraction 3), and acetone (fraction 4). The final residue was marked as fraction 5. The content of total phenolics in the fractions ranged from 21 mg of gallic acid equivalents per g (fraction 5 of H. dyeri) to 100 mg of gallic acid equivalents per g (fraction 5 of H. choisianum). Phenolic compounds present in the fractions showed antioxidant and antiradical properties investigated using DPPH radical scavenging activity, molybdate method, and reducing power. The strongest antiradical properties were noted for fraction 3 of H. choisianum (EC50=11.2 μg/mL), whereas the weakest was for fraction 5 of H. dyeri (EC50=139.2 μg/mL). Fractions 1 and 5 of H. dyeri showed good antibacterial activity against Escherichia coli, while fractions 3–5 of H. perforatum were active against Staphylococcus aureus and Pseudomonas aeruginosa. Fractions 1–4 of H. perforatum were found most active against Helminthosporium maydis as determined by antifungal screening.Fenolni su spojevi izdvojeni pomoću etanola iz pet vrsta roda Hypericum (H. perforatum, H. oblongifolium, H. monogynum, H. choisianum i H. dyeri Redher). Sirovi je ekstrakt (frakcija 1) razdvojen ponovnom ekstrakcijom na: vodu (frakcija 2), etilni acetat (frakcija 3) i aceton (frakcija 4). Preostali je talog označen kao frakcija 5. Udio ukupnih fenola u frakcijama bio je od 21 mg/g (preračunato na galnu kiselinu) u frakciji 5 izdvojene iz H. dyeri do 100 mg/g (preračunato na galnu kiselinu) u frakciji 5 izdvojene iz H. choisianum. Dobiveni su fenolni spojevi imali antioksidativna i antiradikalna svojstva, što je ustanovljeno ispitivanjem njihove sposobnosti uklanjanja DPPH radikala, spektrofotometrijom uz dodatak amonijeva molibdata i utvrđivanjem reducirajuće snage esktrakata. Najjači antiradikalni učinak imala je frakcija 3 iz H. choisianum (EC50=11,2 μg/mL), a najslabiji frakcija 5 iz H. dyeri (EC50=139,2 μg/mL). Frakcije 1 i 5 iz H. dyeri učinkovito su suzbile rast bakterije Escherichia coli, a frakcije 3 i 5 iz H. perforatum djelovale su na bakterije Staphylococcus aureus i Pseudomonas aeruginosa. Frakcije 1-4 iz H. perforatum imale su najjači antifungalni učinak na Helminthosporium maydis

Developing advanced appliances control system in toilet and bathroom for aged generation: FGD preliminary findings

When a person gets old, there are many changes that occur in the aspect of biomechanical features such as bones, joints and muscles which can affect their mobility and strength including reduction in vision and hearing abilities. Thus, this condition will expose them to risk of injuries and accidents. Based on previous studies, toilet and bathroom are identified as the common place where injuries and accidents occur involving older persons. Therefore, in order to create safe and suitable environment for older persons, modifications to products, systems and environments for their daily use should be taken into consideration. Environmental modifications and assistive technology (AT) can compensate for limitations in functional capabilities and thus promoting the well-being and independence of the elderly. In this study, the initial approach is through qualitative methods which was Focus Group Discussion (FGD). Information related to issues and problems, causing factors and suggestions for improvement will be used as an important indicator in the development of relevant systems in this study

ASIL determination for motorbike’s Electronics Throttle Control System (ETCS) mulfunction

Electronics Throttle Control System (ETCS) is the principal electronic unit in all fuel injection engine motorbike, augmenting the engine performance efficiency in comparison to the conventional carburetor based engine. ETCS is regarded as a safety-critical component, whereby ETCS malfunction can cause unintended acceleration or deceleration event, which can be hazardous to riders. In this study, Hazard Analysis and Risk Assessment, an ISO26262 functional safety standard analysis has been applied on motorbike’s ETCS to determine the required automotive safety integrity level. Based on the analysis, the established automotive safety integrity level can help to derive technical and functional safety measures for ETCS development

Workers' remittances and import demand in Pakistan

Using quarterly data for the period 1975-2004, this paper estimates import functions for Pakistan both at the aggregate and disaggregated levels. Findings show that remittances do have a significant impact on the demand for imports in the aggregate equation, with the elasticity for remittances being 0.15, and 0.70 for domestically generated income, in the long run (natural logarithm). Remittances, however, have no impact on the demand for imported consumer goods; their impact on the import of raw materials and capital goods are greater than that of domestically generated income.overseas workers, remittances, import function, Pakistan

Comparative Antioxidant and Antimicrobial Activities of Phenolic Compounds Extracted from Five Hypericum Species

Phenolic compounds were extracted from five Hypericum species (H. perforatum, H. oblongifolium, H. monogynum, H. choisianum and H. dyeri Redher) using ethanol. The crude extract (called fraction 1) was then fractionated using re-extraction to water (fraction 2), ethyl acetate (fraction 3), and acetone (fraction 4). The final residue was marked as fraction 5. The content of total phenolics in the fractions ranged from 21 mg of gallic acid equivalents per g (fraction 5 of H. dyeri) to 100 mg of gallic acid equivalents per g (fraction 5 of H. choisianum). Phenolic compounds present in the fractions showed antioxidant and antiradical properties investigated using DPPH radical scavenging activity, molybdate method, and reducing power. The strongest antiradical properties were noted for fraction 3 of H. choisianum (EC50=11.2 μg/mL), whereas the weakest was for fraction 5 of H. dyeri (EC50=139.2 μg/mL). Fractions 1 and 5 of H. dyeri showed good antibacterial activity against Escherichia coli, while fractions 3–5 of H. perforatum were active against Staphylococcus aureus and Pseudomonas aeruginosa. Fractions 1–4 of H. perforatum were found most active against Helminthosporium maydis as determined by antifungal screening