The Central Bank and bank credits in the Philippines : a survey on effectiveness of monetary policy and its measures

In the post-Asian crisis period, bank loans to the manufacturing sector have shown a slow recovery in the affected countries, unexceptionally in the Philippines. This paper provides a literacy survey on the effectiveness of the Central Bank’s monetary policy and the responsiveness of the financial market, and discusses on the future works necessary to better understand the monetary policy effectiveness in the Philippines. As the survey shows, most previous works focus on the correlation between the short-term policy rates and during the period of monetary tightening and relatively less interest in quantitative effectiveness. Future tasks would shed lights on (1) the asset side – other than loan outstanding – of banks to analyze their behavior/preference in structuring portfolios, and (2) the quantitative impacts during the monetary easing period.

New measures of FTA liberalization level

This paper proposes new measures of the liberalization level of free trade agreements (FTAs). Our measures take three issues into account. First, in order to identify the differences in FTA liberalization level over time, we compute the annual liberalization level rather than the level during the whole period. Second, our measure includes information on tariff margins, i.e. the difference between FTA rates and most favoured nation rates. Third, the restrictiveness of rules of origin (RoOs) is also taken into account in order to penalize the liberalization level of products with more restrictive RoOs. In this paper, we compute such measures of FTA liberalization level for three FTAs in Thailand.

European legislation and implementation measures in the management of construction and demolition waste.

The intense activity in the construction sector during the last decade has generated huge volumes of construction and demolition (C&D) waste. In average, Europe has generated around 890 million tonnes of construction and demolition waste per year. Although now the activity has entered in a phase of decline, due to the change of the economic cycle, we don’t have to forget all the problems caused by such waste, or rather, by their management which is still far from achieving the overall target of 70% for C&D waste --excludes soil and stones not containing dangerous substances-- should be recycled in the EU Countries by 2020 (Waste Framework Directive). But in fact, the reality is that only 50% of the C&D waste generated in EU is recycled and 40% of it corresponds to the recycling of soil and stones not containing dangerous substances. Aware of this situation, the European Countries are implementing national policies as well as different measures to prevent the waste that can be avoidable and to promote measures to increase recycling and recovering. In this aspect, this article gives an overview of the amount of C&D waste generated in European countries, as well as the amount of this waste that is being recycled and the different measures that European countries have applied to solve this situation.

Legal Aspects which Implement Good Practice Measures in the Management of Construction and Demolition Waste

The construction industry, one of the most important ones in the development of a country, generates unavoidable impacts on the environment. The social demand towards greater respect for the environment is a high and general outcry. Therefore, the construction industry needs to reduce the impact it produces. Proper waste management is not enough; we must take a further step in environmental management, where new measures need to be introduced for the prevention at source, such as good practices to promote recycling. Following the amendment of the legal frame applicable to Construction and Demolition Waste (C&D waste), important developments have been incorporated in European and International laws, aiming to promote the culture of reusing and recycling. This change of mindset, that is progressively taking place in society, is allowing for the consideration of C&D waste no longer as an unusable waste, but as a reusable material. The main objective of the work presented in this paper is to enhance C&D waste management systems through the development of preventive measures during the construction process. These measures concern all the agents intervening in the construction process as only the personal implication of all of them can ensure an efficient management of the C&D waste generated. Finally, a model based on preventive measures achieves organizational cohesion between the different stages of the construction process, as well as promoting the conservation of raw materials through the use and waste minimization. All of these in order to achieve a C&D waste management system, whose primary goal is zero waste generation

Some geometrical methods for constructing contradiction measures on Atanassov's intuitionistic fuzzy sets

Trillas et al. (1999, Soft computing, 3 (4), 197–199) and Trillas and Cubillo (1999, On non-contradictory input/output couples in Zadeh's CRI proceeding, 28–32) introduced the study of contradiction in the framework of fuzzy logic because of the significance of avoiding contradictory outputs in inference processes. Later, the study of contradiction in the framework of Atanassov's intuitionistic fuzzy sets (A-IFSs) was initiated by Cubillo and Castiñeira (2004, Contradiction in intuitionistic fuzzy sets proceeding, 2180–2186). The axiomatic definition of contradiction measure was stated in Castiñeira and Cubillo (2009, International journal of intelligent systems, 24, 863–888). Likewise, the concept of continuity of these measures was formalized through several axioms. To be precise, they defined continuity when the sets ‘are increasing’, denominated continuity from below, and continuity when the sets ‘are decreasing’, or continuity from above. The aim of this paper is to provide some geometrical construction methods for obtaining contradiction measures in the framework of A-IFSs and to study what continuity properties these measures satisfy. Furthermore, we show the geometrical interpretations motivating the measures.

Supplementarity measures on fuzzy sets.

In this paper, we commence the study of the so called supplementarity measures. They are introduced axiomatically and are then related to incompatibility measures by antonyms. To do this, we have to establish what we mean by antonymous measure. We then prove that, under certain conditions, supplementarity and incompatibility measuresare antonymous. Besides, with the aim of constructing antonymous measures, we introduce the concept of involution on the set made up of all the ordered pairs of fuzzy sets. Finally, we obtain some antonymous supplementarity measures from incompatibility measures by means of involutions.