abstract the purpose of this paper is to test the hypothesis first proposed by romer (1993); suggesting that inflation is lower in more open economies. according to this hypothesis, central banks have a lower incentive to engineer surprise inflations in more-open economies because the phillips curve is steeper. furthermore, comparing with other empirical studies, this paper has used the new kof...

The formulation of the National Centers for Environmental Prediction four-dimensional variational dataassimilation (4D-Var) system is described. Results of applying 4D-Var over a one-week assimilation period, with a full set of physical parametrizations, are presented and compared with those of 3D-Var. The linearization has been performed without simplifications and, therefore, the tangent-line...

We ®nd empirical evidence that in ̄ation, nominal, and real interest rates in the US are trend-stationary with a structural break in both the unconditional mean and the drift rate of a deterministic trend, which occurs shortly after the change in operating procedures of the Fed in September 1979. This ®nding casts some doubts on cointegration tests of the long-run Fisher e€ect conducted in recen...

multi drug resistance(mdr) is a major problem in the treatment of cancer and hemalological malignancies. this resistance is multi factorial and is the result of decreased intra cellular drug accumulation. this is partly due to the presence of a 170kd intra membranous protein termed p-glycoprotein(p-gp) that is an energy-dependent efflux pump which has increased expression on drug-resistance cel...

The inconclusiveness of findings from various studies on Nigeria the effect crude oil price fluctuation stock market has led to an argument in literature, thus necessitating further exploration subject. This study examines variations selected performance variables using monthly frequency data covering January 1997 December 2016. Variance decomposition, impulse response analysis, and VAR estimat...

this study examins effects of trade liberalization on the wage inequality across industries and between genders within these industries by utilizing the data of micro-level households’ income and expenditures surveys and trade statistics over 2001-2011. the analysis is carried based on the heckscher–ohlin’s theory in international trade and baker’s taste discrimination theory at firms. we use q...

In this study, a vector autoregression (VAR) model with time-varying parameters (TVP) to predict the daily Indian rupee (INR)/US dollar (USD) exchange rates for the Indian economy is developed. The method is based on characterization of the TVP as an optimal control problem. The methodology is a blend of the flexible least squares and Kalman filter techniques. The out-of-sample forecasting perf...

A new approach to optimizing or hedging a portfolio of nancial instruments to reduce risk is presented and tested on applications. It focuses on minimizing Conditional Value-at-Risk (CVaR) rather than minimizing Value-at-Risk (VaR), but portfolios with low CVaR necessarily have low VaR as well. CVaR, also called Mean Excess Loss, Mean Shortfall, or Tail VaR, is anyway considered to be a more co...

An identity links the rate of economic growth, the speed of poverty reduction and changes in the distribution of income during some time period in a given country. A few authors used that identity to understand the causes for observed changes in poverty and to identify the exact role of economic growth in poverty reduction. Yet, many empirical cross-country studies of the relationship between g...