Enflasyonla mücadelede son zamanlarda en çok başvurulan politikalardan birisi de enflasyon hedeflemesi politikasıdır. Uygulamada geniş kabul gören bu politikanın hedefi gerçekleştirmek için kullandığı araçlardan bir tanesi ise, merkez bankalarının nominal faiz oranlarını enflasyondaki gelişmelere göre belirleme kabiliyetidir. Nominal üzerindeki ana tartışma konusu, hangi düzeyde belirleyeceğidi...

The present article uses the Autoregressive Distributed Lag (ARDL) bounds testing procedure to identify the long run equilibrium relationship between electricity consumption and economic growth. TodaYamamoto andWald-test causality tests have identified the direction of the causal relationship between these two variables in the case of Pakistan in the period between 1971 and 2008. Ng-Perron and ...

This study examines the causal relationship between foreign direct investment and economic growth. Methodology is based on the Toda-Yamamoto test for causality relationship and the bounds testing (ARDL). Time-series data covering the period 19702005 for Malaysia, the study found, in the case of Malaysia there is no strong evidence of a bi-directional causality and long-run relationship between ...

This paper investigates whether the Feldstein and Horioka (1980) argument on domestic saving-investment relationship is supported by the data of the countries in the Middle East and North Africa (MENA) region when the financial development levels and exchange rate regimes are taken into account. To this end, we employ both the ARDL bounds cointegration test and panel mean group procedures. The ...

The Algerian economy is an example of a high level of rentierism, while the Egyptian economy shows a low/moderate level of rentierism. The ARDL bounds test approach was used upon annual time series data from 1965 to 2010. The results suggest cointegration for both countries. Bi-causality between energy consumption and growth in the long run was found. For Algeria there is a reversed (negative) ...

The main purpose of this paper is to evaluate the effect of crude oil price on global fertilizer prices in both the mean and volatility. The endogenous structural breakpoint unit root test, the autoregressive distributed lag (ARDL) model, and alternative volatility models, including the generalized autoregressive conditional heteroskedasticity (GARCH) model, Exponential GARCH (EGARCH) model, an...

This paper presents an algorithm of hybrid collision detection. Firstly, the algorithm establishes sphere and OBB level bounding box for every model in virtual scene and then uses intersect test of sphere bounding box to exclude not intersect model. Between two model of maybe the intersection, it uses not intersect part of intersect test excluding model of OBB bounding box, reducing PSO searchi...

Bounding volumes are used to optimize many graphic algorithms. They permit to decide quickly if a more exact test is likely to succeed or not. The exact test is only applied if the bounding volume test succeeds, which saves time in most cases. Two of the most prominent applications are ray tracing and collision detection. This paper presents a new method to calculate tight bounding volumes for ...