Stochastic comparisons and ageing properties of an extended gamma process

Extended gamma processes have been seen as a flexible extension of standard gamma processes in the recent reliability literature, for the purpose of cumulative deterioration modeling. The probabilistic properties of the standard gamma process have been well explored since the 1970s, whereas those of its extension remain largely unexplored. In particular, stochastic comparisons between degradation levels modeled by standard gamma processes and ageing properties for the corresponding level-crossing times are now well understood. The aim of this paper is to explore similar properties for extended gamma processes and see which ones can be broadened to this new context. As a by-product, new stochastic comparisons for convolutions of gamma random variables are also obtained.

Directions of Economic and Ecological Transformation of Enterprises of the Defence-industrial Complex of Ukraine

Since the beginning of the third millennium, ecological safety has become of paramount importance for Ukraine. The cumulative deterioration of the environment, fixed by the annual official reports on the ecological situation in the country, is fraught with irreparable consequences not only for the present generations, but also for descendants. The authors propose to consider the enterprises of the defence-industrial complex (DIC) of Ukraine as those that make a significant contribution to the development of the economy of the country, while not only not destroying the environment, but also contributing to sustainable development. The defence-industrial complex of Ukraine is the basis of the high-tech sector of the Ukrainian economy, which determines its key importance for the functioning and development of the entire national economy, in the current period of change of technological modes, as the enterprises of the Ukrainian defence-industrial complex have a high level of innovation. One of the key features of the domestic defence-industrial complex is that it has the potential to concentrate various types of resources to achieve breakthrough results not only in addressing the issues of creating the latest weapons and military equipment, but also for implementing large-scale projects of national economic importance. This potential for breakthrough development currently remains underutilized, requiring adjustments not only in industrial, but also in state economic policy as a whole. The current state of development of defence industry enterprises is characterized by insufficient economic and environmental sustainability and requires modernization based on global experience in the greening of the military-defence sphere and NATO environmental standards, which will have environmental and economic effects. The obstacles of economic and ecological transformation of enterprises of the defence-industrial complex of Ukraine were identified and a number of managerial decisions that can become drivers to accelerate the economic and ecological transformation of the defence-industrial complex of Ukraine were proposed.

Decomposition of Fiscal Deterioration in the OECD

Government fiscal positions in all the advanced economies suffered severe deteriorations during the financial crisis. Figure 1 illustrates the cumulative deterioration of the government budget ratio as a per cent of GDP between 2007 and 2009 in a selection of OECD economies. The sharpest declines materialised in Ireland, Spain and Finland, while public finances in Austria, Germany and Italy have held up better. Budget deficits have worsened in part because of the cyclical downturn, in part because of the policy response to the crisis, including both fiscal stimulus packages and certain fiscal costs related to government support of financial institutions, and in part because of a change in the relationship between revenue and production, which may prove longer-term.