Exchange Rate Stabilization and IMF High Interest Rate Policy: A Critical Reconsideration Using a Dynamic Model

This paper examines whether the IMF high interest rate policy was suitable for crisis-ridden East Asian economies. Using an "overshoot" model similar to that of Dornbusch's (1976), it shows that this sort of policy might cause an unnecessary deflationary adjusting process and have no effect on containing the real depreciation of exchange rates in the long run. The study also demonstrates that Thai economic data coincides quite well with the model presented here. Finally, it points out that the high interest policy itself might provoke high risk-premium, the existence of which, in turn, justifies the policy. This means that the policy has a self-fulfilling property. In conclusion, a "one-size-fits-all" adaptation of high interest rate policy in a currency crisis is very dangerous in general, and was inappropriate for East Asia. The desirable policy would have been to let currencies depreciate and keep interest rates stable.

Chapter 4 A Review of the Availability of and Studies on Spatial Economic Data in Laos

Spatial data are being increasingly used in a wide range of disciplines, a fact that is clearly reflected in the recent trend to add spatial dimensions to the conventional social sciences. Economics is by no means an exception. On one hand, spatial data are indispensable to many branches of economics such as economic geography, new economic geography, or spatial economics. On the other hand, macroeconomic data are becoming available at more and more micro levels, so that academics and analysts take it for granted that they are available not only for an entire country, but also for more detailed levels (e.g. state, province, and even city). The term ‘spatial economics data’ as used in this report refers to any economic data that has spatial information attached. This spatial information can be the coordinates of a location at best or a less precise place name as is used to describe administrative units. Obviously, the latter cannot be used without a map of corresponding administrative units. Maps are therefore indispensible to the analysis of spatial economic data without absolute coordinates. The aim of this report is to review the availability of spatial economic data that pertains specifically to Laos and academic studies conducted on such data up to the present. In regards to the availability of spatial economic data, efforts have been made to identify not only data that has been made available as geographic information systems (GIS) data, but also those with sufficient place labels attached. The rest of the report is organized as follows. Section 2 reviews the maps available for Laos, both in hard copy and editable electronic formats. Section 3 summarizes the spatial economic data available for Laos at the present time, and Section 4 reviews and categorizes the many economic studies utilizing these spatial data. Section 5 give examples of some of the spatial industrial data collected for this research. Section 6 provides a summary of the findings and gives some indication of the direction of the final report due for completion in fiscal 2010.

Central bank intervention and exchange rate behaviour : empirical evidence for India

This paper examines the causal relationship between central bank intervention and exchange returns in India. Using monthly data from December 1997 to December 2011, the empirical results derived from the CCF approach of Cheung and Ng (1996) suggest that there is causality-in-variance from exchange rate returns to central bank intervention, but not vice versa. These findings are robust in the sense that they hold in cases where the returns were measured from either the spot rate or the forward rate. Therefore, the results of this paper suggest that the Indian central bank has intervened in the foreign exchange market to respond to exchange rate volatility, although the volatility has not been influenced by central bank intervention in the form of net purchases of foreign currency in the market.

FTA in international finance : impacts of exchange rates on FTA utilization

This paper investigates how exchange rates affect the utilization of a free trade agreement (FTA) scheme in trading. Changes in exchange rates affect FTA utilization by two ways. The first way is by changing the excess profits gained by utilizing the FTA scheme, and the second way is by promoting the compliance of rules of origin. Our theoretical models predict that the depreciation of exporters' currency against that of importers enhances the likelihood of FTA utilization through those two channels. Furthermore, our empirical analysis, which is based on rich tariff-line-level data on the utilization of FTA schemes in Korea's imports from ASEAN countries, supports the theoretical prediction. We also show that the effects are smaller for more differentiated products.

Impacts of foreign exchange auctions on the informal market rate in Myanmar

Since the abolition of the official peg and the introduction of a managed float in April 2012, the Central Bank of Myanmar has operated the daily two–way auctions of foreign exchange aimed at smoothing exchange rate fluctuations. Despite the reforms to the foreign exchange regime, however, informal trading of foreign exchange remains pervasive. Using the daily informal exchange rate and Central Bank auction data, this study examines the impacts of auctions on the informal market rate. First, a VAR analysis indicates that the official rate did not Granger cause the informal rate. Second, GARCH models indicate that the auctions did not reduce the conditional variance of the informal rate returns. Overall, the auctions have only a quite modest impact on the informal exchange rate.

Determinants of inbound tourists in Cambodia : a dynamic panel data approach

Understanding the determinants of tourism demand is crucial for the tourism sector. This paper develops a dynamic panel model to examine the determinants of inbound tourists to Siem Reap airport, Phnom Penh airport, and land and waterway borders in Cambodia. Consistent with the consumer theory of tourism consumption, a 10% increase in the origin country GDP per capita is predicted to increase the number of tourist visits to Siem Reap airport by 5.8%. A 10% increase in the real exchange rate between the origin country and Cambodia is predicted to decrease the number of tourist visits by 0.89%. In contrast, the number of foreign tourists in a previous period has little effect on the number of foreign tourists in the current period. Additionally, the determinants are different by the mode of entry to Cambodia.

Ontology-based access to sensor data streams

Sensor networks are increasingly becoming one of the main sources of Big Data on the Web. However, the observations that they produce are made available with heterogeneous schemas, vocabularies and data formats, making it difficult to share and reuse these data for other purposes than those for which they were originally set up. In this thesis we address these challenges, considering how we can transform streaming raw data to rich ontology-based information that is accessible through continuous queries for streaming data. Our main contribution is an ontology-based approach for providing data access and query capabilities to streaming data sources, allowing users to express their needs at a conceptual level, independent of implementation and language-specific details. We introduce novel query rewriting and data translation techniques that rely on mapping definitions relating streaming data models to ontological concepts. Specific contributions include: • The syntax and semantics of the SPARQLStream query language for ontologybased data access, and a query rewriting approach for transforming SPARQLStream queries into streaming algebra expressions. • The design of an ontology-based streaming data access engine that can internally reuse an existing data stream engine, complex event processor or sensor middleware, using R2RML mappings for defining relationships between streaming data models and ontology concepts. Concerning the sensor metadata of such streaming data sources, we have investigated how we can use raw measurements to characterize streaming data, producing enriched data descriptions in terms of ontological models. Our specific contributions are: • A representation of sensor data time series that captures gradient information that is useful to characterize types of sensor data. • A method for classifying sensor data time series and determining the type of data, using data mining techniques, and a method for extracting semantic sensor metadata features from the time series.

Processing and validation of JEFF3-3.1.2 Cross-section Library into Various Formats: ACE, PENDF, GENDF, MATXSR and BOXER.

Following the processing and validation of JEFF-3.1 performed in 2006 and presented in ND2007, and as a consequence of the latest updated of this library (JEFF-3.1.2) in February 2012, a new processing and validation of JEFF-3.1.2 cross section library is presented in this paper. The processed library in ACE format at ten different temperatures was generated with NJOY-99.364 nuclear data processing system. In addition, NJOY-99 inputs are provided to generate PENDF, GENDF, MATXSR and BOXER formats. The library has undergone strict QA procedures, being compared with other available libraries (e.g. ENDF/B-VII.1) and processing codes as PREPRO-2000 codes. A set of 119 criticality benchmark experiments taken from ICSBEP-2010 has been used for validation purposes.

Automated processing of zebrafish imaging data: a survey

Due to the relative transparency of its embryos and larvae, the zebrafish is an ideal model organism for bioimaging approaches in vertebrates. Novel microscope technologies allow the imaging of developmental processes in unprecedented detail, and they enable the use of complex image-based read-outs for high-throughput/high-content screening. Such applications can easily generate Terabytes of image data, the handling and analysis of which becomes a major bottleneck in extracting the targeted information. Here, we describe the current state of the art in computational image analysis in the zebrafish system. We discuss the challenges encountered when handling high-content image data, especially with regard to data quality, annotation, and storage. We survey methods for preprocessing image data for further analysis, and describe selected examples of automated image analysis, including the tracking of cells during embryogenesis, heartbeat detection, identification of dead embryos, recognition of tissues and anatomical landmarks, and quantification of behavioral patterns of adult fish. We review recent examples for applications using such methods, such as the comprehensive analysis of cell lineages during early development, the generation of a three-dimensional brain atlas of zebrafish larvae, and high-throughput drug screens based on movement patterns. Finally, we identify future challenges for the zebrafish image analysis community, notably those concerning the compatibility of algorithms and data formats for the assembly of modular analysis pipelines.

Onyx: describing emotions on the web of data

There are several different standardised and widespread formats to represent emotions. However, there is no standard semantic model yet. This paper presents a new ontology, called Onyx, that aims to become such a standard while adding concepts from the latest Semantic Web models. In particular, the ontology focuses on the representation of Emotion Analysis results. But the model is abstract and inherits from previous standards and formats. It can thus be used as a reference representation of emotions in any future application or ontology. To prove this, we have translated resources from EmotionML representation to Onyx. We also present several ways in which developers could benefit from using this ontology instead of an ad-hoc presentation. Our ultimate goal is to foster the use of semantic technologies for emotion Analysis while following the Linked Data ideals.

Development of a methodology for nuclear data uncertainty propagation on isotopic evolution calculations for advanced nuclear systems

Una apropiada evaluación de los márgenes de seguridad de una instalación nuclear, por ejemplo, una central nuclear, tiene en cuenta todas las incertidumbres que afectan a los cálculos de diseño, funcionanmiento y respuesta ante accidentes de dicha instalación. Una fuente de incertidumbre son los datos nucleares, que afectan a los cálculos neutrónicos, de quemado de combustible o activación de materiales. Estos cálculos permiten la evaluación de las funciones respuesta esenciales para el funcionamiento correcto durante operación, y también durante accidente. Ejemplos de esas respuestas son el factor de multiplicación neutrónica o el calor residual después del disparo del reactor. Por tanto, es necesario evaluar el impacto de dichas incertidumbres en estos cálculos. Para poder realizar los cálculos de propagación de incertidumbres, es necesario implementar metodologías que sean capaces de evaluar el impacto de las incertidumbres de estos datos nucleares. Pero también es necesario conocer los datos de incertidumbres disponibles para ser capaces de manejarlos. Actualmente, se están invirtiendo grandes esfuerzos en mejorar la capacidad de analizar, manejar y producir datos de incertidumbres, en especial para isótopos importantes en reactores avanzados. A su vez, nuevos programas/códigos están siendo desarrollados e implementados para poder usar dichos datos y analizar su impacto. Todos estos puntos son parte de los objetivos del proyecto europeo ANDES, el cual ha dado el marco de trabajo para el desarrollo de esta tesis doctoral. Por tanto, primero se ha llevado a cabo una revisión del estado del arte de los datos nucleares y sus incertidumbres, centrándose en los tres tipos de datos: de decaimiento, de rendimientos de fisión y de secciones eficaces. A su vez, se ha realizado una revisión del estado del arte de las metodologías para la propagación de incertidumbre de estos datos nucleares. Dentro del Departamento de Ingeniería Nuclear (DIN) se propuso una metodología para la propagación de incertidumbres en cálculos de evolución isotópica, el Método Híbrido. Esta metodología se ha tomado como punto de partida para esta tesis, implementando y desarrollando dicha metodología, así como extendiendo sus capacidades. Se han analizado sus ventajas, inconvenientes y limitaciones. El Método Híbrido se utiliza en conjunto con el código de evolución isotópica ACAB, y se basa en el muestreo por Monte Carlo de los datos nucleares con incertidumbre. En esta metodología, se presentan diferentes aproximaciones según la estructura de grupos de energía de las secciones eficaces: en un grupo, en un grupo con muestreo correlacionado y en multigrupos. Se han desarrollado diferentes secuencias para usar distintas librerías de datos nucleares almacenadas en diferentes formatos: ENDF-6 (para las librerías evaluadas), COVERX (para las librerías en multigrupos de SCALE) y EAF (para las librerías de activación). Gracias a la revisión del estado del arte de los datos nucleares de los rendimientos de fisión se ha identificado la falta de una información sobre sus incertidumbres, en concreto, de matrices de covarianza completas. Además, visto el renovado interés por parte de la comunidad internacional, a través del grupo de trabajo internacional de cooperación para evaluación de datos nucleares (WPEC) dedicado a la evaluación de las necesidades de mejora de datos nucleares mediante el subgrupo 37 (SG37), se ha llevado a cabo una revisión de las metodologías para generar datos de covarianza. Se ha seleccionando la actualización Bayesiana/GLS para su implementación, y de esta forma, dar una respuesta a dicha falta de matrices completas para rendimientos de fisión. Una vez que el Método Híbrido ha sido implementado, desarrollado y extendido, junto con la capacidad de generar matrices de covarianza completas para los rendimientos de fisión, se han estudiado diferentes aplicaciones nucleares. Primero, se estudia el calor residual tras un pulso de fisión, debido a su importancia para cualquier evento después de la parada/disparo del reactor. Además, se trata de un ejercicio claro para ver la importancia de las incertidumbres de datos de decaimiento y de rendimientos de fisión junto con las nuevas matrices completas de covarianza. Se han estudiado dos ciclos de combustible de reactores avanzados: el de la instalación europea para transmutación industrial (EFIT) y el del reactor rápido de sodio europeo (ESFR), en los cuales se han analizado el impacto de las incertidumbres de los datos nucleares en la composición isotópica, calor residual y radiotoxicidad. Se han utilizado diferentes librerías de datos nucleares en los estudios antreriores, comparando de esta forma el impacto de sus incertidumbres. A su vez, mediante dichos estudios, se han comparando las distintas aproximaciones del Método Híbrido y otras metodologías para la porpagación de incertidumbres de datos nucleares: Total Monte Carlo (TMC), desarrollada en NRG por A.J. Koning y D. Rochman, y NUDUNA, desarrollada en AREVA GmbH por O. Buss y A. Hoefer. Estas comparaciones demostrarán las ventajas del Método Híbrido, además de revelar sus limitaciones y su rango de aplicación. ABSTRACT For an adequate assessment of safety margins of nuclear facilities, e.g. nuclear power plants, it is necessary to consider all possible uncertainties that affect their design, performance and possible accidents. Nuclear data are a source of uncertainty that are involved in neutronics, fuel depletion and activation calculations. These calculations can predict critical response functions during operation and in the event of accident, such as decay heat and neutron multiplication factor. Thus, the impact of nuclear data uncertainties on these response functions needs to be addressed for a proper evaluation of the safety margins. Methodologies for performing uncertainty propagation calculations need to be implemented in order to analyse the impact of nuclear data uncertainties. Nevertheless, it is necessary to understand the current status of nuclear data and their uncertainties, in order to be able to handle this type of data. Great eórts are underway to enhance the European capability to analyse/process/produce covariance data, especially for isotopes which are of importance for advanced reactors. At the same time, new methodologies/codes are being developed and implemented for using and evaluating the impact of uncertainty data. These were the objectives of the European ANDES (Accurate Nuclear Data for nuclear Energy Sustainability) project, which provided a framework for the development of this PhD Thesis. Accordingly, first a review of the state-of-the-art of nuclear data and their uncertainties is conducted, focusing on the three kinds of data: decay, fission yields and cross sections. A review of the current methodologies for propagating nuclear data uncertainties is also performed. The Nuclear Engineering Department of UPM has proposed a methodology for propagating uncertainties in depletion calculations, the Hybrid Method, which has been taken as the starting point of this thesis. This methodology has been implemented, developed and extended, and its advantages, drawbacks and limitations have been analysed. It is used in conjunction with the ACAB depletion code, and is based on Monte Carlo sampling of variables with uncertainties. Different approaches are presented depending on cross section energy-structure: one-group, one-group with correlated sampling and multi-group. Differences and applicability criteria are presented. Sequences have been developed for using different nuclear data libraries in different storing-formats: ENDF-6 (for evaluated libraries) and COVERX (for multi-group libraries of SCALE), as well as EAF format (for activation libraries). A revision of the state-of-the-art of fission yield data shows inconsistencies in uncertainty data, specifically with regard to complete covariance matrices. Furthermore, the international community has expressed a renewed interest in the issue through the Working Party on International Nuclear Data Evaluation Co-operation (WPEC) with the Subgroup (SG37), which is dedicated to assessing the need to have complete nuclear data. This gives rise to this review of the state-of-the-art of methodologies for generating covariance data for fission yields. Bayesian/generalised least square (GLS) updating sequence has been selected and implemented to answer to this need. Once the Hybrid Method has been implemented, developed and extended, along with fission yield covariance generation capability, different applications are studied. The Fission Pulse Decay Heat problem is tackled first because of its importance during events after shutdown and because it is a clean exercise for showing the impact and importance of decay and fission yield data uncertainties in conjunction with the new covariance data. Two fuel cycles of advanced reactors are studied: the European Facility for Industrial Transmutation (EFIT) and the European Sodium Fast Reactor (ESFR), and response function uncertainties such as isotopic composition, decay heat and radiotoxicity are addressed. Different nuclear data libraries are used and compared. These applications serve as frameworks for comparing the different approaches of the Hybrid Method, and also for comparing with other methodologies: Total Monte Carlo (TMC), developed at NRG by A.J. Koning and D. Rochman, and NUDUNA, developed at AREVA GmbH by O. Buss and A. Hoefer. These comparisons reveal the advantages, limitations and the range of application of the Hybrid Method.

Reconfigurable video code (RVC) : aplicación para automatizar la asignación de procesos RUC a los núcleos de un sistema multiprocesador

El esquema actual que existe en el ámbito de la normalización y el diseño de nuevos estándares de codificación de vídeo se está convirtiendo en una tarea difícil de satisfacer la evolución y dinamismo de la comunidad de codificación de vídeo. El problema estaba centrado principalmente en poder explotar todas las características y similitudes entre los diferentes códecs y estándares de codificación. Esto ha obligado a tener que rediseñar algunas partes comunes a varios estándares de codificación. Este problema originó la aparición de una nueva iniciativa de normalización dentro del comité ISO/IEC MPEG, llamado Reconfigurable Video Coding (RVC). Su principal idea era desarrollar un estándar de codificación de vídeo que actualizase e incrementase progresivamente una biblioteca de los componentes, aportando flexibilidad y la capacidad de tener un código reconfigurable mediante el uso de un nuevo lenguaje orientado a flujo de Actores/datos denominado CAL. Este lenguaje se usa para la especificación de la biblioteca estándar y para la creación de instancias del modelo del decodificador. Más tarde, se desarrolló un nuevo estándar de codificación de vídeo denominado High Efficiency Video Coding (HEVC), que actualmente se encuentra en continuo proceso de actualización y desarrollo, que mejorase la eficiencia y compresión de la codificación de vídeo. Obviamente se ha desarrollado una visión de HEVC empleando la metodología de RVC. En este PFC, se emplean diferentes implementaciones de estándares empleando RVC. Por ejemplo mediante los decodificadores Mpeg 4 Part 2 SP y Mpeg 4 Part 10 CBP y PHP así como del nuevo estándar de codificación HEVC, resaltando las características y utilidad de cada uno de ellos. En RVC los algoritmos se describen mediante una clase de actores que intercambian flujos de datos (tokens) para realizar diferentes acciones. El objetivo de este proyecto es desarrollar un programa que, partiendo de los decodificadores anteriormente mencionados, una serie de secuencia de vídeo en diferentes formatos de compresión y una distribución estándar de los actores (para cada uno de los decodificadores), sea capaz de generar diferentes distribuciones de los actores del decodificador sobre uno o varios procesadores del sistema sobre el que se ejecuta, para conseguir la mayor eficiencia en la codificación del vídeo. La finalidad del programa desarrollado en este proyecto es la de facilitar la realización de las distribuciones de los actores sobre los núcleos del sistema, y obtener las mejores configuraciones posibles de una manera automática y eficiente. ABSTRACT. The current scheme that exists in the field of standardization and the design of new video coding standards is becoming a difficult task to meet the evolving and dynamic community of video encoding. The problem was centered mainly in order to exploit all the features and similarities between different codecs and encoding standards. This has forced redesigning some parts common to several coding standards. This problem led to the emergence of a new initiative for standardization within the ISO / IEC MPEG committee, called Reconfigurable Video Coding (RVC). His main idea was to develop a video coding standard and gradually incrementase to update a library of components, providing flexibility and the ability to have a reconfigurable code using a new flow -oriented language Actors / data called CAL. This language is used for the specification of the standard library and to the instantiation model decoder. Later, a new video coding standard called High Efficiency Video Coding (HEVC), which currently is in continuous process of updating and development, which would improve the compression efficiency and video coding is developed. Obviously has developed a vision of using the methodology HEVC RVC. In this PFC, different implementations using RVC standard are used. For example, using decoders MPEG 4 Part 2 SP and MPEG 4 Part 10 CBP and PHP and the new coding standard HEVC, highlighting the features and usefulness of each. In RVC, the algorithms are described by a class of actors that exchange streams of data (tokens) to perform different actions. The objective of this project is to develop a program that, based on the aforementioned decoders, a series of video stream in different compression formats and a standard distribution of actors (for each of the decoders), is capable of generating different distributions decoder actors on one or more processors of the system on which it runs, to achieve greater efficiency in video coding. The purpose of the program developed in this project is to facilitate the realization of the distributions of the actors on the cores of the system, and get the best possible settings automatically and efficiently.

Big Data : análisis y estudio de la plataforma Hadoop

Desde el inicio de los tiempos el ser humano ha tenido la necesidad de comprender y analizar todo lo que nos rodea, para ello se ha valido de diferentes herramientas como las pinturas rupestres, la biblioteca de Alejandría, bastas colecciones de libros y actualmente una enorme cantidad de información informatizada. Todo esto siempre se ha almacenado, según la tecnología de la época lo permitía, con la esperanza de que fuera útil mediante su consulta y análisis. En la actualidad continúa ocurriendo lo mismo. Hasta hace unos años se ha realizado el análisis de información manualmente o mediante bases de datos relacionales. Ahora ha llegado el momento de una nueva tecnología, Big Data, con la cual se puede realizar el análisis de extensas cantidades de datos de todo tipo en tiempos relativamente pequeños. A lo largo de este libro, se estudiarán las características y ventajas de Big Data, además de realizar un estudio de la plataforma Hadoop. Esta es una plataforma basada en Java y puede realizar el análisis de grandes cantidades de datos de diferentes formatos y procedencias. Durante la lectura de estas páginas se irá dotando al lector de los conocimientos previos necesarios para su mejor comprensión, así como de ubicarle temporalmente en el desarrollo de este concepto, de su uso, las previsiones y la evolución y desarrollo que se prevé tenga en los próximos años. ABSTRACT. Since the beginning of time, human being was in need of understanding and analyzing everything around him. In order to do that, he used different media as cave paintings, Alexandria library, big amount of book collections and nowadays massive amount of computerized information. All this information was stored, depending on the age and technology capability, with the expectation of being useful though it consulting and analysis. Nowadays they keep doing the same. In the last years, they have been processing the information manually or using relational databases. Now it is time for a new technology, Big Data, which is able to analyze huge amount of data in a, relatively, small time. Along this book, characteristics and advantages of Big Data will be detailed, so as an introduction to Hadoop platform. This platform is based on Java and can perform the analysis of massive amount of data in different formats and coming from different sources. During this reading, the reader will be provided with the prior knowledge needed to it understanding, so as the temporal location, uses, forecast, evolution and growth in the next years.

A data model for Cultural Heritage within INSPIRE.

Esta monografía presenta los fundamentos, contexto y detalles técnicos de un Esquema de Aplicación para la incorporación de datos espaciales relativos al patrimonio cultural en el marco definido por la directiva europea INSPIRE sobre información geográfica. Abstract: This monograph presents the background, context and technical details of an Application Schema for the inclusion of cultural heritage spatial data into the INSPIRE framework. Nowadays, INSPIRE provides the most relevant framework for the dissemination and exchange of geographical data, covering many different thematic fields, particularly relevant for envi-ronmental datasets. Although cultural heritage elements are partially addressed within INSPIRE, there is no specific documentation on how these data should be considered, structured and published. This text aims to provide technical guidelines for decision makers, public administrations and the scientific community for the definition and implementation of harmonized datasets for cultural heritage, according to the interoperability principles of INSPIRE.