Globalisation Effect on Inflation in the Great Moderation Era: New Evidence from G10 Countries

The effect of globalisation on inflation is modeled and simulated for ten countries from G10 during the Great Moderation period. The results are supportive of the globalisation hypothesis. In particular, the results show that dynamic channels and magnitudes of globalisation to domestic inflation are highly heterogeneous from country to country, that increases in trade openness could be either inflationary or deflationary, while increased imports from low-cost emerging-market economies have been mostly deflationary, and that there has been almost no direct globalisation impact as far as inflation persistence is concerned while the impact on inflation variability can be positive as well as negative. Overall, globalisation is shown to have contributed positively to the aspect of low inflation rather than that of stable inflation during the Great Moderation era

A Communication Monitor for Wireless Sensor Networks Based on Software Defined Radio

Link quality estimation of reliability-crucial wireless sensor networks (WSNs) is often limited by the observability and testability of single-chip radio transceivers. The estimation is often based on collection of packer-level statistics, including packet reception rate, or vendor-specific registers, such as CC2420's Received Signal Strength Indicator (RSSI) and Link Quality Indicator (LQI). The speed or accuracy of such metrics limits the performance of reliability mechanisms built in wireless sensor networks. To improve link quality estimation in WSNs, we designed a powerful wireless communication monitor based on Software Defined Radio (SDR). We studied the relations between three implemented link quality metrics and packet reception rate under different channel conditions. Based on a comparison of the metrics' relative advantages, we proposed using a combination of them for fast and accurate estimation of a sensor network link

Is the Chinese Currency Substantially Misaligned to Warrant Further Appreciation?

This study provides quarterly time-series estimates of the misalignment in the REER of the Renminbi (RMB). The estimation is based on a commonly used economic approach, but with a wider and more up-to-date coverage of data and a more extensive use of econometric modelling techniques. Our estimates corroborate and explain most of the previous estimates. More importantly, our estimates demonstrate that there is no significant undervaluation in the REER of the RMB though downward misalignment exists in the trilateral rates between the RMB, US$ and euro. The finding refutes the claim that RMB appreciation is the primary and necessary solution to the current global trade imbalance.Real exchange rate misalignment

Globalisation effect on inflation in the great moderation era: new evidence from G10 countries

The effect of globalisation on inflation is modelled and simulated for ten countries from G10 during the Great Moderation period. The results are supportive of the globalisation hypothesis. In particular, the results show that dynamic channels and magnitudes of globalisation to domestic inflation are highly heterogeneous from country to country, that increases in trade openness could be either inflationary or deflationary, while increased imports from low-cost emerging-market economies have been mostly deflationary, and that there has been almost no direct globalisation impact as far as inflation persistence is concerned while the impact on inflation variability can be positive as well as negative. Overall, globalisation is shown to have contributed positively to the aspect of low inflation rather than that of stable inflation during the Great Moderation era.Inflation dynamics; globalisation

Link Quality Estimation for Future Cooperating Objects

ReSens