Transaction Cost and the Viability of Rural Financial Intermediaries

Recognition of a continuous improvement in the formal financial system is necessary for economic growth. Over the years, the government has been infusing cheap funds into the rural sector. Unfortunately, it overlooks a number of serious issues regarding bank’s transaction costs. This article develops a method of estimating transaction costs for each bank activity. It also explains the differences and the composition of transaction costs among commercial banks, rural banks and private development banks.financial system, banking system, commercial banks, transaction cost, deposit liabilities

Transactions Costs and the Viability of Rural Financial Intermediaries

In its attempt to examine the transaction cost of banks, this study develops a method of estimating transaction cost for each bank activity. It also explains the differences and the composition cost among commercial private development and rural banks. Results in this paper is hoped to improve the efficient functioning of the formal financial system.financial sector, rural sector, transaction cost, financial intermediaries

Unplugging the Universe: the neglected electromagnetic consequence of decoupling

This letter concentrates on the non-equilibrium evolution of magnetic field structures at the onset of recombination, when the charged particle current densities decay as neutrals are formed. We consider the effect that a decaying magnetic flux has on the acceleration of particles via the transient induced electric field. Since the residual charged-particle number density is small as a result of decoupling, we shall consider the magnetic and electric fields essentially to be imposed, neglecting the feedback from any minority accelerated population. We find that the electromagnetic treatment of this phase transition can produce energetic electrons scattered throughout the Universe. Such particles could have a significant effect on cosmic evolution in several ways: (i) their presence could delay the effective end of the recombination era; (ii) they could give rise to plasma concentrations that could enhance early gravitational collapse of matter by opposing cosmic expansion to a greater degree than neutral matter could; (iii) they could continue to be accelerated, and become the seed for reionisation at the later epoch $z \approx 10$.Comment: 4 pages, no figure

A new approach for Guaranteed ellipsoidal state estimation

The 19th World Congress of the International Federation of Automatic Control 2014. Cape Town, SudáfricaThis paper proposes a new ellipsoid-based guaranteed state estimation approach for linear discrete-time systems with bounded perturbations and bounded measurement noise. This approach is based on the minimization of the radius of the ellipsoidal state estimation set. Firstly, the ellipsoidal state estimation is computed by off-line solving a Linear Matrix Inequality optimization problem. Secondly, a new online method is developed in order to improve the accuracy of the estimation but it leads to an increase of the online computation load. A new scaling technique is proposed to reduce the computation time, while keeping a good accuracy of the state estimation. An illustrative example is analyzed in order to show the advantages of the proposed approach

Comparison between two state estimation techniqueds for linear systems

20th World Congress of the International Federation of Automatic Control, Jul 2017, Toulouse, FranceThis paper presents a comparison in terms of accuracy and complexity between two approaches used for state estimation of linear systems: a classic Kalman filter and a guaranteed set-membership state estimation technique. The main goal of this paper is to analyze the advantages of these techniques and to combine them in the future in a new accurate and simple extension that handles system uncertainties and chance constraints. Two academic examples illustrate the main differences between the compared techniques

A Robust Constrained Reference Governor Approach using Linear Matrix Inequalities

The purpose of this paper is to examine and provide a solution to the output reference tracking problem for uncertain systems subject to input saturation. As well-known, input saturation and modelling errors are very common problems at industry, where control schemes are implemented without accounting for such problems. In many cases, it is sometimes difficult to modify the existing implemented control schemes being necessary to provide them with external supervisory control approaches in order to tackle problems with constraints and modelling errors. In this way, a cascade structure is proposed, combining an inner loop containing any proper controller with an outer loop where a generalized predictive controller (GPC) provides adequate references for the inner loop considering input saturations and uncertainties. Therefore, the contribution of this paper consists in providing a state space representation for the inner loop and using linear matrix inequalities (LMI) to obtain a predictive state-vector feedback in such a way that the input reference for the inner loop is calculated to satisfy robust tracking specifications considering input saturations. Hence, the final proposed solution consists in solving a regulation problem to a fixed reference value subjected to a set of constraints described by several LMI and bilinear matrix inequalities (BMI). The main contribution of the paper is that the proposed solution is a non-linear setpoint tracking approach, that is, it is allowed that the system goes into saturation facing the problem of setpoint tracking instead of regulating to the origin. An illustrative numerical example is presented.Ministerio de Ciencia y Tecnología DPI2004-07444-C04-01/0

A Rich Population of X-ray Emitting Wolf-Rayet Stars in the Galactic Starburst Cluster Westerlund 1

Recent optical and IR studies have revealed that the heavily-reddened starburst cluster Westerlund 1 (Wd 1) contains at least 22 Wolf-Rayet (WR) stars, comprising the richest WR population of any galactic cluster. We present results of a senstive Chandra X-ray observation of Wd 1 which detected 12 of the 22 known WR stars and the mysterious emission line star W9. The fraction of detected WN stars is nearly identical to that of WC stars. The WN stars WR-A and WR-B as well as W9 are exceptionally luminous in X-rays and have similar hard heavily-absorbed spectra with strong Si XIII and S XV emission lines. The luminous high-temperature X-ray emission of these three stars is characteristic of colliding wind binary systems but their binary status remains to be determined. Spectral fits of the X-ray bright sources WR-A and W9 with isothermal plane-parallel shock models require high absorption column densities log N$_{H}$ = 22.56 (cm$^{-2}$) and yield characteristic shock temperatures kT_shock ~ 3 keV (T ~ 35 MK).Comment: ApJL, 2006, in press (3 figures, 1 table