Effectiveness of the monetary policy framework in present-day India : have financial variables functioned as useful policy indicators

In April 1998, the RBI, the Indian central bank, formally announced a shift in its policy framework from monetary targeting to a multiple indicator approach, and since then, under this framework, the bank has considered a range of economic and financial variables as policy indicators for drawing policy perspectives. This paper aims to examine the effectiveness of this current policy framework in India by analyzing the causal relationships of each indicator variable on the objective variables. The results reveal that, except for bank credit, all indicator variables considered in this study have a causal relationship with at least either output or price level, suggesting that most preannounced economic and financial variables have served as useful policy indicators under the multiple indicator approach.

Approach to the use of indicators for the assessment of the environmental level of construction products

The European construction industry is supposed to consume the 40% of the natural European resources and to generate the 40% of the European solid waste. Conscious of the great damage being suffered by the environment because of construction activity, this work tries to provide the building actors with a new tool to improve the current situation. The tool proposed is a model for the comprehensive evaluation of construction products by determining their environmental level. In this research, the environmental level of a construction product has been defined as its quality of accomplishing the construction requirements needed by causing the minimum ecological impact in its surrounding environment. This information allows building actors to choose suitable materials for building needs and also for the environment, mainly in the project stage or on the building site, contributing to improve the relationship between buildings and environment. For the assessment of the environmental level of construction products, five indicators have been identified regarding their global environmental impact through the product life cycle: CO2 emissions provoked during their production, volume and toxicity of waste generated on the building site, durability and recycling capacity after their useful life. Therefore, the less environmental impact one construction product produces, the higher environmental level performs. The model has been tested in 30 construction products that include environmental criteria in their description. The results obtained will be discussed in this article. Furthermore, this model can lay down guidelines for the selection of ecoefficient construction products and the design of new eco-competitive and eco-committed ones

Fish communities as indicators of biological conditions of rivers: methods for reference conditions

Fish communities are a key element in fluvial ecosystems Their position in the top of the food chain and their sensitivity to a whole range of impacts make them a clear objective for ecosystem conservation and a sound indicator of biological integrity. The UE Water Framework Directive includes fish community composition, abundance and structure as relevant elements for the evaluation os biological condition. Several approaches have been proposed for the evaluation of the condition of fish communities, from the bio-indicator concept to the IBI (Index of biotic integrity) proposals. However, the complexity of fish communities and their ecological responses make this evaluation difficult, and we must avoid both oversimplified and extreme analytical procedures. In this work we present a new proposal to define reference conditions in fish communities, discussing them from an ecological viewpoint. This method is a synthetic approach called SYNTHETIC OPEN METHODOLOGICAL FRAMEWORK (SOMF) that has been applied to the rivers of Navarra. As a result, it is recommended the integration of all the available information from spatial, modelling, historical and expert sources, providing the better approach to fish reference conditions, keeping the highest level of information and meeting the legal requirements of the WFD.

Simulation of academic performance rates, estimation of indicators of subjects and of a complete degree

The purpose of this paper is to present a program written in Matlab-Octave for the simulation of the time evolution of student curricula, i.e, how students pass their subjects along time until graduation. The program computes, from the simulations, the academic performance rates for the subjects of the study plan for each semester as well as the overall rates, which are a) the efficiency rate defined as the ratio of the number of students passing the exam to the number of students who registered for it and b) the success rate, defined as the ratio of the number of students passing the exam to the number of students who not only registered for it but also actually took it. Additionally, we compute the rates for the bachelor academic degree which are established for Spain by the National Quality Evaluation and Accreditation Agency (ANECA) and which are the graduation rate (measured as the percentage of students who finish as scheduled in the plan or taking an extra year) and the efficiency rate (measured as the percentage of credits which a student who graduated has really taken). The simulation is done in terms of the probabilities of passing all the subjects in their study plan. The application of the simulator to Polytech students in Madrid, where requirements for passing are specially stiff in first and second year subjects, is particularly relevant to analyze student cohorts and the probabilities of students finishing in the minimum of four years, or taking and extra year or two extra years, and so forth. It is a very useful tool when designing new study plans. The calculation of the probability distribution of the random variable "number of semesters a student has taken to complete the curricula and graduate" is difficult or even unfeasible to obtain analytically, and this is even truer when we incorporate uncertainty in parameter estimation. This is why we apply Monte Carlo simulation which not only provides illustration of the stochastic process but also a method for computation. The stochastic simulator is proving to be a useful tool for identification of the subjects most critical in the distribution of the number of semesters for curriculum vitae (CV) completion and subsequently for a decision making process in terms of CV planning and passing standards in the University. Simulations are performed through a graphical interface where also the results are presented in appropriate figures. The Project has been funded by the Call for Innovation in Education Projects of Universidad Politécnica de Madrid (UPM) through a Project of its school Escuela Técnica Superior de Ingenieros Industriales ETSII during the period September 2010-September 2011.

Ranking web services using centralities and social indicators

Nowadays, developers of web application mashups face a sheer overwhelming variety and pluralism of web services. Therefore, choosing appropriate web services to achieve specific goals requires a certain amount of knowledge as well as expertise. In order to support users in choosing appropriate web services it is not only important to match their search criteria to a dataset of possible choices but also to rank the results according to their relevance, thus minimizing the time it takes for taking such a choice. Therefore, we investigated six ranking approaches in an empirical manner and compared them to each other. Moreover, we have had a look on how one can combine those ranking algorithms linearly in order to maximize the quality of their outputs.