3,100 research outputs found
Testing the Marshall-Lerner condition in Kenya
No full textIn this paper we examine the Marshall-Lerner (ML) condition for the Kenyan economy. In particular, we use quarterly data on the log of real exchange rates, export-import ratio and relative (US) income for the time period 1996q1 – 2011q4, and employ techniques based on the concept of long memory or long-range dependence. Specifically, we use fractional integration and cointegration methods, which are more general than standard approaches based exclusively on integer degrees of differentiation. The results indicate that there exists a well-defined cointegrating relationship linking the balance of payments to the real exchange rate and relative income, and that the ML condition is satisfied in the long run although the convergence process is relatively slow. They also imply that a moderate depreciation of the Kenyan shilling may have a stabilizing influence on the balance of payments through the current account without the need for high interest rates.This study is partly funded by the Ministry of Education of Spain (ECO2011-2014 ECON Y FINANZAS, Spain) and from a Jeronimo de Ayanz project of the Government of Navarra
Exchange rate policy and trade balance. A cointegration analysis of the argentine experience since 1962.
No full textUsing multivariate cointegration tests for non-stationary data and vector error correction models, this paper examines the determinants of trade balance for Argentina over the last forty to fifty years. Our investigation confirms the existence of long-run relationships among trade balance, Real Exchange Rate (RER) and foreign and domestic incomes for Argentina during different real exchange rate management policies. Based on the estimations, the Marshall-Lerner condition is examined and, by means of impulse response functions, we trace the effect of a one-time shock to the RER on the trade balance checking the J-curve pattern.Argentina; Marshall-Lerner; J-Curve; cointegration and impulse response analysis
Semantic Web meets Web 2.0 (and vice versa): The Value of the Mundane for the Semantic Web
No full textWeb 2.0, not the Semantic Web, has become the face of “the next generation Web” among the tech-literate set, and even among many in the various research communities involved in the Web. Perceptions in these communities of what the Semantic Web is (and who is involved in it) are often misinformed if not misguided. In this paper we identify opportunities for Semantic Web activities to connect with the Web 2.0 community; we explore why this connection is of significant benefit to both groups, and identify how these connections open valuable research opportunities “in the real” for the Semantic Web effort
Exchange rate and trade balance in east asia: is there a J-curve?
No full textThis paper examines the short run and long run effects of real exchange rate changes on the real trade balance of three ASEAN countries in their bilateral trade to the US and Japan within a cointegrating vector error correction model (VECM). Generalized impulse response funtions are estimated to investigate the response to shocks. VECM estimates suggest one long-run steady-state cointegrating relationship among real trade balance, real exchange rate, real domestic and foreign income in each country. Although considerable variations exist in the results, overall the generalized impulse response functions suggest that the Marshall-Lerner condition holds in the long-run with varying degree of J-curve effects in the short-run.ASEAN Countries
Design metrics for evaluating the propulsive efficiency of future ships
No full textThere is an increasing need for the ship design process to take account of environmental issues such as the emission of greenhouse gases and the likely extension of a carbon dioxide charging mechanism to international shipping. These issues, together with the need for economic viability, provide further incentives to improve the efficiency of propulsion of ships. The main components of powering are firstly reviewed. Individual components and other power saving devices are identified which should contribute to improvements in the overall efficiency of propulsion. Suitable design metrics and procedures, taking into account economic and environmental factors, are recommended for the design of future ships
Traditional Export Demand Relation: A Cointegration and Parameter Constancy Analysis
No full textThis study empirically estimates the critical parameters of the aggregate export demand function for Jordan by using annual time series data (1970-2004) and by applying both Johansen-Juselius and Saikkonen-Lütkepohl multivariate cointegration procedures. The empirical results confirm that there exists a unique and significant long-run equilibrium relationship among exports, foreign income, relative export price, and domestic output. Our estimation results show that income elasticity is much larger than unity while export price elasticity is slightly above one. The long-run estimate of the export price elasticity reveal that the Marshall-Lerner condition is satisfied for Jordan and currency devaluation may be effective in improving Jordanian exports and her trade balance. Moreover, domestic output has a positive and significant impact on Jordanian exports. Finally, tests for the parameter constancy suggested by Hansen and Johansen (1999) reveal that the hypothesis of stable long-run elasticities could not be rejected.Export demand, Elasticity, Cointegration, Stability analysis
Brief note: some observations on oscillating tangential forces and wear in general plane contacts
No full textFor general plane contact of elastically similar materials, including cases where there are multiple regions of contact, general properties of the partial slip solution for conditions of constant normal force and monotonically increasing shearing force have been found recently by the first author. An extension is given here to cover the unloading and cyclic loading cases. Further, it is shown that, if the tangential load varies between two fixed limits, the region of stick does not change, even if relative microslip causes wear, changing continuously the profile of the indenter. The contact area will change, but wear will not enter the original region of adhesion. The theoretical limit to which wear will eventually, asymptotically proceed is established, viz. almost complete contact over what is the initial stick zone, although it may, in practice, take a long time to reach this state
The description of Kabarda by D.A. Milutin in the context of the cauсasus version of russian orien-talism foundation
No full textThe paper pertains to the analysis of a manuscript authored by D.A. Milutin in the first half of the 19th century, regarding the region of Kabarda. This manuscript, hitherto unpublished in academic circles, has been the subject of our examination. Our endeavor was to uncover the utilization of orientalist clichés by the manuscript's author, in order to depict both the geographical delineations of this ethno-political entity and the ethnography, livelihood, societal structure, and customary legal norms of its inhabitants. A remarkable parallel can be observed between certain aspects of the manuscript and the ideas propounded by E. Said in his discourse on European Orientalism. The researcher drew a comparison between the political framework and traditions of the Kabardian people and those prevalent in Europe. Moreover, the researcher romanticized the region's historical past, employing the conceptof "reverse human progress," along with other typical methodologies embraced by Orientalist thinkers of that era. Concomitantly, D.A. Milutin provided detailed descriptions of the political, social, and everyday existence in Kabarda, thereby endowing the manuscript with an intrinsic value as an original historical and cultural resource for contemporary scholars. It is concluded that, similar to numerous analogous texts produced by Orientalist scholars, the significance of D.A. Milutin's man-uscript lies not in its political arguments concerning the military and economic dominion of the Russian Empire over the Caucasian peoples, or the imperative to extend colonial governance to these ethnic territorie
Elements of Ethnotaxonomy in Dhule and Nandurbar Districts (Maharashtra)
No full textDhule and Nandurbar districts of Maharashtra are mainly inhabited by tribals and rural folks. The author’s ethnobotanical and floristic forays in these districts brought out certain elements of ethnotaxonomy like ethnotaxonomic markers, classifications, principles of nomenclature and exomorphic features. The facts gathered indicated that the people in the area are fairly flooded with reckonable elements of ethnotaxonomy. And 22 ethnotaxonomic markers are identified. These are evaluated and discussed pertinently in this paper.-----------------------------------------------------------------------------------------------------Post Graduate Department of Botany, S.S.V.P.S’s L.K. P.R.Ghogrey Science College, Dhule-424005 (Maharashtra), India*Corresponding author, Email: [email protected] Cite This Article As: D.A. Patil. 2010. Elements of Ethnotaxonomy in Dhule and Nandurbar Districts (Maharashtra). J. Ecobiotechnol. 2(3): 18-25
Aanteekeningen omtrent de gevolgen van zware stormvloeden, tusschen 1500 en 1825 voorgekomen, voor de dijken en polders langs het Zuidwestelijk deel der Zuiderzee: samengesteld door den ingenieur van den Rijkswaterstaat D.A. van Heyst
No full textOverzicht van stormvloeden (1500 - 1825) die tot overstromingen langs de Zuiderzee geleid hebben. Aanleiding was de overstroming van 1916, en men wilde weten of deze stormvloed inderdaad uniek was
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