On the Concept of the Foreign Exchange Multiplier

1975 ◽  
Vol 14 (2) ◽  
pp. 233-237
Author(s):  
J. Diamond
Keyword(s):  
Foreign Exchange ◽  
Realistic Model ◽  
Domestic Production ◽  
Supply Elasticity ◽  
Aggregate Supply ◽  
Multiplier Effect ◽  
Special Case

Although in recent years there has been increasing recognition of the import¬ance of intermediary imports, the conventional Keynesian treatment of aggregate " supply has-generally been adopted. By assuming supply elasticity and conditions of over-production, such imports are treated as a leakage and-therefore deflationary. This paper investigates another special case which may be a more realistic model for many industrialising economies like Pakistan. Namely, J,y assuming supply bottlenecks and the technical dependence of domestic production on imported inputs, an increase in imports may be inflationary and have an import or foreign exchange multiplier effect.

Depreciation and Trade Deficits in India: Problems of Foreign Exchange and Domestic Industrialisation Base

2019 ◽  
Vol 67 (3-4) ◽  
pp. 258-278
Author(s):  
Satya Prasad Padhi
Keyword(s):  
Present Article ◽  
Foreign Exchange ◽  
Financial Stability ◽  
Aggregate Demand ◽  
Division Of Labour ◽  
Market Mechanism ◽  
Balance Of Payments ◽  
Domestic Production ◽  
Trade Imbalances ◽  
Financial Balance

The present article develops an argument in which depreciating Indian rupee is basically due to underdeveloped status of domestic production base that is reflected in continuing trade deficits. It argues that price theoretic policies not only manage trade imbalances but also completely neglect the revival of domestic production base that can induce a tendency towards exports-led correction of the trade imbalances, that is, it neglects the importance of exports to make a transition towards strong production base, manageable trade balances and strong foreign exchange status; if so, the continuing Indian deprecation negates international financial stability status. The present article provides an alternative policy focus that is on finance-led initiations of broader Youngian–Kaldorian division of labour that favourably shapes demand-based market mechanism (and growth of aggregate demand) and results in sophistication in industrial differentiation, that is, increased specialisations in intermediate goods production. It is argued that such transition confers a developed status with respect to the (BBoP basic Balance of Payments i.e., trade and foreign direct investment [FDI] inflow prospects), which in turn is crucial to achieve financial balance of payments (BoP) stability. All in all, the price theory is inapplicable when trade is based on absolute cost disadvantages and Keynesian policies provide the solutions.

scholarly journals Risk Bearing and the Insurance Market

1978 ◽  
Vol 10 (1) ◽  
pp. 12-24 ◽  
Author(s):  
Hans Bühlmann ◽  
Hans U. Gerber
Keyword(s):  
Realistic Model ◽  
Insurance Market ◽  
Special Case ◽  
General Setup

Stimulated by Karl Borch's paper [3] we have tried to analyze the paper written by K. Arrow [1] in 1953. Contrary to Borch's opinion we have some doubt whether this work contains a theory of insurance as a special case. Nevertheless, it has inspired us to this note, which tries to develop a somewhat more realistic model. As a matter of fact, our development is more in the spirit of another paper by Arrow [2]. We, however, have chosen a more general setup, and we believe that our treatment is also different.

scholarly journals Chain stability in trading networks

2021 ◽  
Vol 16 (1) ◽  
pp. 197-234
Author(s):  
John William Hatfield ◽  
Scott Duke Kominers ◽  
Alexandru Nichifor ◽  
Michael Ostrovsky ◽  
Alexander Westkamp
Keyword(s):  
General Model ◽  
Competitive Equilibrium ◽  
Supply And Demand ◽  
Transferable Utility ◽  
Pairwise Stability ◽  
Bilateral Contracts ◽  
Aggregate Supply ◽  
Trading Networks ◽  
Special Case ◽  
Stability Concept

In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept that plays the same role as pairwise stability in two‐sided settings. We show that chain stability is equivalent to stability if all agents' preferences are jointly fully substitutable and satisfy the Laws of Aggregate Supply and Demand. In the special case of trading networks with transferable utility, an outcome is consistent with competitive equilibrium if and only if it is chain stable.

Extreme self-sacrifice beyond fusion: Moral expansiveness and the special case of allyship

2018 ◽  
Vol 41 ◽  
Author(s):  
Daniel Crimston ◽  
Matthew J. Hornsey
Keyword(s):  
General Theory ◽  
Biological Markers ◽  
Natural Environment ◽  
Relevant Dimension ◽  
Special Case

AbstractAs a general theory of extreme self-sacrifice, Whitehouse's article misses one relevant dimension: people's willingness to fight and die in support of entities not bound by biological markers or ancestral kinship (allyship). We discuss research on moral expansiveness, which highlights individuals’ capacity to self-sacrifice for targets that lie outside traditional in-group markers, including racial out-groups, animals, and the natural environment.

Determination of the phase structure of polymerblends by electron microscopy

1978 ◽  
Vol 36 (1) ◽  
pp. 492-493
Author(s):  
Dr. G. Kaemof
Keyword(s):  
Screw Extruder ◽  
Electron Microscopic ◽  
Thin Sections ◽  
Single Screw Extruder ◽  
Transmission Electron ◽  
The Matrix ◽  
Twin Screw ◽  
Special Case ◽  
Microscopic Investigations

A mixture of polycarbonate (PC) and styrene-acrylonitrile-copolymer (SAN) represents a very good example for the efficiency of electron microscopic investigations concerning the determination of optimum production procedures for high grade product properties.The following parameters have been varied:components of charge (PC : SAN 50 : 50, 60 : 40, 70 : 30), kind of compounding machine (single screw extruder, twin screw extruder, discontinuous kneader), mass-temperature (lowest and highest possible temperature).The transmission electron microscopic investigations (TEM) were carried out on ultra thin sections, the PC-phase of which was selectively etched by triethylamine.The phase transition (matrix to disperse phase) does not occur - as might be expected - at a PC to SAN ratio of 50 : 50, but at a ratio of 65 : 35. Our results show that the matrix is preferably formed by the components with the lower melting viscosity (in this special case SAN), even at concentrations of less than 50 %.

On the influence of specimen thickness in TEM images of super-conducting vortices

1996 ◽  
Vol 54 ◽  
pp. 724-725
Author(s):  
J. Bonevich ◽  
D. Capacci ◽  
G. Pozzi ◽  
K. Harada ◽  
H. Kasai ◽  
...  
Keyword(s):  
Flux Line ◽  
Analytical Form ◽  
Realistic Model ◽  
Electron Holography ◽  
Specimen Thickness ◽  
Flux Tubes ◽  
Analytical Expression ◽  
Flux Lines ◽  
Normal Core ◽  
Two Parameters

The successful observation of superconducting flux lines (fluxons) in thin specimens both in conventional and high Tc superconductors by means of Lorentz and electron holography methods has presented several problems concerning the interpretation of the experimental results. The first approach has been to model the fluxon as a bundle of flux tubes perpendicular to the specimen surface (for which the electron optical phase shift has been found in analytical form) with a magnetic flux distribution given by the London model, which corresponds to a flux line having an infinitely small normal core. In addition to being described by an analytical expression, this model has the advantage that a single parameter, the London penetration depth, completely characterizes the superconducting fluxon. The obtained results have shown that the most relevant features of the experimental data are well interpreted by this model. However, Clem has proposed another more realistic model for the fluxon core that removes the unphysical limitation of the infinitely small normal core and has the advantage of being described by an analytical expression depending on two parameters (the coherence length and the London depth).

Test Validation Without Measurement

2016 ◽  
Vol 32 (3) ◽  
pp. 204-214 ◽  
Author(s):  
Emilie Lacot ◽  
Mohammad H. Afzali ◽  
Stéphane Vautier
Keyword(s):  
Test Data ◽  
Test Scores ◽  
Scientific Explanation ◽  
Test Validation ◽  
Clinical Tests ◽  
Ethical Perspective ◽  
Power Of Test ◽  
Memory Accuracy ◽  
Social Uses ◽  
Special Case

Abstract. Test validation based on usual statistical analyses is paradoxical, as, from a falsificationist perspective, they do not test that test data are ordinal measurements, and, from the ethical perspective, they do not justify the use of test scores. This paper (i) proposes some basic definitions, where measurement is a special case of scientific explanation; starting from the examples of memory accuracy and suicidality as scored by two widely used clinical tests/questionnaires. Moreover, it shows (ii) how to elicit the logic of the observable test events underlying the test scores, and (iii) how the measurability of the target theoretical quantities – memory accuracy and suicidality – can and should be tested at the respondent scale as opposed to the scale of aggregates of respondents. (iv) Criterion-related validity is revisited to stress that invoking the explanative power of test data should draw attention on counterexamples instead of statistical summarization. (v) Finally, it is argued that the justification of the use of test scores in specific settings should be part of the test validation task, because, as tests specialists, psychologists are responsible for proposing their tests for social uses.

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