Monetary Policy and Asset Price Gap Signal Technology in a New Keynesian Framework

This article develops a New Keynesian model in which the inflation rate depends on the present value of future output gaps and asset prices gaps. The latter follows a price adjustment process. These asset price gaps are driven by ‛asset price gap signal technology’, a measure of exponentially distributed asset price gaps with a signalling mechanism. Within a dynamic stochastic optimisation approach, I identify a policy rule for the central bank in which the asset price gap the difference between the actual asset price at time t to its fundamental value plays a crucial role in determining the nominal rate of interest.

A Model for Tilting Pad Thrust Bearings Operating With Reduced Flow Rate – Do Benefits Outweigh Risks?

The literature on tilting pad thrust bearings (TPTB) calls for flow reduction as an effective means to reduce drag power losses as well as oil pumping costs. However, the highest level of flow reduction a bearing can undergo while maintaining reliable operation is a key question that demands comprehensive analysis. This paper implements a model into an existing thermoelasto-hydrodynamic (TEHD) computational analysis tool to deliver load performance predictions for TPTBs operating with reduced flow rates. For bearings supplied with either a reduced flow or an over flow conditions, a sound model for the flow and thermal energy mixing in a feed groove determines the temperature of the lubricant entering a thrust pad. Under a reduced flow condition, the analysis reduces the effective arc length of a wetted pad until matching the available flow. Predicted discharge flow temperature rise and pad subsurface temperature rise from the present model match measurements in the archival literature for an eight-pad bearing supplied with 150% to 25% of the nominal flow rate, i.e., the minimum flow that fully lubricates the bearing pads. A supply flow above nominal rate increases the bearing drag power because the lubricant enters a pad at a lower temperature, and yet has little effect on a thrust pad peak temperature rise or its minimum film thickness. A reduced flow below nominal produces areas lubricant starvation zones, and thus the minimum film thickness substantially decreases while the film and pad’s surface temperature rapidly increase to produce significant thermal crowning of the pad surface. Compared to the bearing lubricated with a nominal rate, a starved flow bearing produces a larger axial stiffness and a lesser damping coefficient. A reduction in drag power with less lubricant supplied brings an immediate energy efficiency improvement to bearing operation. However, sustained long-term operation with overly warm pad temperatures could reduce the reliability of the mechanical element and its ultimate failure.

Interest Rate Interactions between Bangladesh and the US: Possible Pass Through From the US

This paper investigates the long run relationship between the interest rates of Bangladesh and the United Sates (US). Using time series quarterly data for the period 1972- 2019, the study finds that the nominal rate of the US positively influences the nominal rate of Bangladesh and they do maintain a long run relationship. Similar result is obtained by examining the real rates of both countries. However, in the latter case the study period covers from the third quarter of 1993 to the third quarter of 2019. Estimation of the error correction model signifies that in both cases policy rate of Bangladesh significantly responds to the error, which is the measure of deviation from long run equilibrium. Although interest rates of Bangladesh respond to the error in both cases, the speed of adjustment is much higher in case of the real rates. Empirical findings reveal that around 6% error is corrected in every quarter if it is nominal rate whereas in the event of real rate the rate of error correction is almost 77%. These findings indicate that small economy Bangladesh plans its policy rate taking account of the dynamics of the large economy the US, and such policy dependence is more apparent for real rate of interest.

Development of Testing Standardization Regulation of the OLT XG-PON Equipments to Support Broadband Access in Indonesia

This study aims to provide a reference to the technical specifications of the Optical Line Termination (OLT) XG-PON equipment for improving standardization regulations (Perdirjen Postel No. 257 of 2008). The technical specifications tested in this study are the nominal rate capability, wavelength range, and jumbo frame of the OLT XG-PON equipment. The research acquired a reference to the nominal rate using FEC is 8.5 Gbps downstream direction, and 2.5 Gbps upstream direction, upstream wavelength range is 1260-1280 nm and downstream is 1575-1581 nm, and jumbo frame capability is 2000 Bytes.

An empirical Bayesian approach for estimating fleet- and vessel-level bycatch rates in fisheries with effort heterogeneity and limited data: a prospective tool for measuring bycatch mitigation performance

Minimizing fishing-induced mortality on bycatch and endangered, threatened or protected species is a necessity for fisheries managers. Estimating individual vessel bycatch rates by dividing the amount of bycatch by effort (nominal rate) can be biased, as it does not consider effort heterogeneity within the fleet and ignores prior knowledge of fleet bycatch rates. We develop an empirical Bayesian approach for estimating individual vessel and fleet bycatch rates that: (i) considers effort heterogeneity among vessels and; (ii) pools data from similar vessels for more accurate estimation. The proposed standardized bycatch rate of a vessel is, therefore, the weighted average of the pool rate and nominal rate of the vessel; where the weights are functions of the vessel’s fishing effort and a constant estimated from the model. We apply this inference method to the estimation of seabird bycatch rates in the component of the Australian Eastern Tuna and Billfish Fishery targeting yellowfin tuna. We illustrate the capability of the method for providing fishery managers with insights on fleet-wide bycatch mitigation performance and the identification of outperforming and underperforming vessels. This method can also be used by fishery managers to develop fleet-wide performance measures or quantitative evaluation standards.

ANALISIS KEBIJAKAN PENGENDALIAN INFLASI DKI JAKARTA

Jakarta's role in the national economy is very central. Contributions economy Jakarta nationwide reach 16 to 17 percent of total national GDP. Indicators of inflation is very central.Inflation is low and stable would be a stimulator of economic growth. This study aims to: a) discuss the development of the inflation rate in Jakarta, b) discuss and analyze the policy of inflation control in Jakarta and c) comparing the calculation of the inflation rate to the inflation rate in 2017-2022 RPJMD. The study used a qualitative descriptive approach. In conclusion Regional Inflation Control Team (TPID) Jakarta to be very central in controlling inflation. BUMD, the food cluster was instrumental and constructive in terms of the provision of some major food commodities. The rate of inflation and economic growth RPJMD and Simultaneous Equation Model shows that there are differences in nominal figures. But in the nominal rate projections for both relatively stable and the same. Policy strategy of the four K (4 K), namely affordability, availability of supplies, smoothness distribution and communications has given excellent results and is conducive to the economy of Jakarta. The Jakarta Provincial Government cooperation with the regions and between enterprises working with other regions Jakarta quite effective.bazaar and market operations are to periodically shown to be effective in controlling inflation. So it is necessary to continue.

The Crit Value as an Effect Size Measure for Violations of Model Assumptions in Mokken Scale Analysis for Binary Data

In empirical use of Mokken scaling, the Crit index is used as evidence (or lack thereof) of violations of some common model assumptions. The main goal of our study was two-fold: To make the formulation of the Crit index explicit and accessible, and to investigate its distribution under various measurement conditions. We conducted two simulation studies in the context of dichotomously-scored item responses. False positive rates and power to detect assumption violations were considered. We found that the false positive rates of Crit were close to the nominal rate in most conditions, and that power to detect misfit depended on the sample size, type of violation, and number of assumption-violating items. Our findings are relevant to all practitioners who use Mokken scaling for scale and questionnaire construction and revision.

Policy-induced price distortions along the small ruminant value chains in Ethiopia

Purpose The purpose of this paper is to identify sources and quantifying distortions to agricultural incentives to produce along the small ruminant value chains in Ethiopia. Design/methodology/approach National and district level average nominal rate of protection (NRPs) were computed for a five-year period (2010–2015). The authors developed four scenarios based on combinations of the different data generation processes employed in relation to each of the key variables. Findings The NRPs at farm gate and retail market for both sheep and goats are negative indicating a strong deviation of producer and retailer prices from the comparable export prices over the five-year period. Policy induced distortions were separated from market inefficiencies through use of data on access costs throughout the value chain. These access costs are positive and significant in value. It is clear that market inefficiencies are also due to government policy to a certain extent. Research limitations/implications This study focuses only on sheep and goat value chains and covers only five-year period. This certainly limits the extrapolability of the results. Originality/value This study presents the extent to which smallholder livestock keepers are discouraged through disincentives in a unique context. This is the first study done on small ruminant value chains in the developing world.

The Relationship Between Inflation and Nominal Interest Rate: Case of Selected Countries

When the empirical studies in the literature on inflation and interest relation are examined, it can be seen that a positive or negative change in one of these two variables has a significant effect on the other variable. This situation reveals the necessity of evaluating the relationship between variables within the framework of cause and effect. In this study, the relationship between inflation, interest rates, showing similar macroeconomic structures Turkey, Indonesia and Brazil the country for the period 1985-2018 using annual data sets separately for each country were explained by the VAR model. The results showed only right way for Turkey to reciprocate the nominal rate of inflation variables for Indonesia and Brazil were found bidirectional causality between countries.