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A methodology of structuring a garment production simulation model using a spreadsheet is described to minimize the average daily production cost through the investigation of various man‐machine combinations. The capability and usability of an easily available modern spreadsheet Excel 7.0 to simulate a simple garment production system is accessed with an attempt to demonstrate the simulation model building in a user friendly environment rather than learning and using costly simulation programming languages or simulation software packages. Simulation has evaluated the resource utilization and measured the system performance and developed strategies for taking operational decisions in a logical and better way to minimize the garment production cost. It may also assist and benefit the garment production managers to plan, design and operate their systems in an efficient manner in a competitive environment.

In seminal work, Den Haan et al. (2007, 2010, 2011) show business loans respond in the opposite direction of what may be intended by monetary policy action in the United States and Canada. Based on various approaches, identification schemes, and samples, we document evidence this loan puzzle is not exclusive to developed economies but is also pervasive in emerging markets. We find business loans generally decline following expansionary monetary policy shocks. A preponderance of statistical and structural evidence indicates important transmissions of this puzzle from the United States to emerging markets.

In response to the COVID-19 pandemic, which caused a downward trend in the US stock market, the Federal Reserve has implemented an innovative Corporate Credit Facility (CCF) program from March 23 to December 31, 2020. The CCF aims to purchase the eligible corporate bonds and ETFs under the Primary Market Corporate Credit Facility (PMCCF) and Secondary Market Corporate Credit Facility (SMCCF). Firstly, our result shows that the Corporate Credit Facility program has stabilized the return of the S&P 500 by 0.68 in variance reduction. Secondly, the SMCCF has exhibited a better effect on the stock market compared with PMCCF. The coefficient of SMCCF is statistically significant. However, announcement and PMCCF are not significant in the variance equation. Thirdly, the joint Wald test of PMCCF and SMCCF positively and significantly affect the return of the S&P 500, evidenced by the mean equation. Lastly, the announcement of CCF has an adverse effect on the S&P 500. It can be concluded that the Fed's Corporate Credit Facility has been innovative in combating the financial market's instability.

The objective of this chapter is to examine the recent experiences of capital flows and the associated fiscal imbalances since the inception of the Eurozone. We show that the standard explanation for understanding these fiscal imbalances and capital flows is viable, but is not complete given the unique circumstances surrounding these fiscal imbalances within the Eurozone. That is, the creation of the Eurozone provided some fiscal and monetary stability up until the shock of the 2008 Financial Crisis. After the 2008 Financial Crisis, the interaction between the current account and fiscal imbalances started to spread throughout the Eurozone members and many of these Eurozone members began to engage in policies in an attempt to restore stability and to stem capital outflows by implementing fiscal reforms. In fact, some of the Eurozone members attempted to restore their fiscal viability in response to the 2008 Financial Crisis, but not with much success. Thus, the Eurozone members, collectively, need to reexamine best practices to implement fiscal policies that are resistant to intense financial shocks. Empirically, we examined the following two hypotheses in this chapter via the Wald test statistic. The first hypothesis examined the effect of the own country fiscal imbalances within own country is uniform across all the Eurozone members. Then, the second hypothesis examined the fiscal imbalances of one Eurozone member do not have on other Eurozone members. The Wald test statistic rejected both hypotheses.

This paper aims to develop a compound measure, which is fiscal vulnerability index, provides early warning signals of fiscal sustainability problems for Türkiye's economy.

The index is constructed using twelve distinct fiscal indicators and applying the portfolio method, which considers the time-varying cross-correlation structure between the subindices.

Dynamics of the fiscal vulnerability index indicate that it accurately predicts to the well-known fiscal crisis occurring in Türkiye's recent history. As a result, such a compound measure should be used in the early identification of fiscal vulnerability in Türkiye.

The main contribution of this paper, relative to existing papers, is that a fiscal vulnerability index was constructed by employing the most contemporaneous method and evaluating its performance in terms of capturing historical stress periods.

The purpose of this paper is to investigate the impact of the Federal Reserve's conventional and unconventional monetary policy shocks on the US unemployment rate.

The authors employ a unified time-varying framework to an extensive data set from 1960 to 2019.

The authors find that both conventional and unconventional monetary policy influence the unemployment rate, but the effects of unconventional monetary policy vary greatly during the first, second and third rounds of quantitative easing (dubbed QE1, QE2 and QE3, respectively). It significantly influenced the unemployment rate in QE3. However, the effects are less persistent than the effects of conventional monetary policy shocks. The impact of unconventional monetary policy transmits to the real economy through conventional interest rates, exchange rates and asset price channels. The responses of unemployment rate are smaller during QE1 and QE2 due to the rise in inflation uncertainty and economic policy uncertainty.

The impact of the Fed's unconventional monetary policy shocks on the US unemployment rate during QE1, QE2 and QE3 is time-varying. It is explained by inflation uncertainty and real option channels.

The purpose of this paper is to examine the impact of Federal Open Market Committee (FOMC) announcements, which includes information about the targeted Federal fund rate and revision to the future path of monetary policy on Southeast Asian stock market performance.

This paper has used a sample of five national equity market indexes over the period 1997-2013 that covers 132 scheduled FOMC meetings. The authors have developed the model of Wongswan (2009) and Kontonikas et al. (2013) to quantify target surprise and path surprise.

The results first show that all the stock markets examined do respond to information in FOMC announcements. Second, the target Federal fund rate has more impact on Southeast Asian stocks performance than information about the future path of monetary policy does. Third, different Southeast Asian equity markets respond similarly to targeting the Federal fund rate, while the responses to monetary policy differ from each other. Fourth, the response of each country to the FOMC announcement is not statistically different in the two periods of financial crisis.

Southeast Asian financial markets are increasingly highly correlated to the US market. The main channel in which FOMC announcement has impact on Southeast Asian stock markets is through US price transmission. This is the case of foreign firms borrowing from the US market. Then, an increase in interest rate, which means that the cost of financing increases, will lower firm equity value.

The understanding of the response of the Southeast Asian stock markets to target surprise and path surprise, and the impact of each surprise in different time periods, would be important to investors and encourage further discussion amongst academics in Southeast Asia, where stock markets have been emerging in recent years.

This paper seeks to adopt FRBRoo as an ontological approach to integrate heterogeneous metadata, and transform human-understandable format into machine-understandable format for semantic query.

Two cases of use with museum artefacts and literary works were exploited to illustrate how FRBRoo can be used to re-contextualize the semantics of elements and the semantic relationships embedded in those elements. The shared ontology was then RDFized and examples were explored to examine the feasibility of the proposed approach.

FRBRoo can play a role as inter lingua aligning museum and library metadata to achieve heterogeneous metadata integration and semantic query without changing either of the original approaches to fit the other.

Exploration of more diverse use cases is required to further align the different approaches of museums and libraries using FRBRoo and make revisions.

Solid evidence is provided for the use of FRBRoo in heterogeneous metadata integration and semantic query.

This is the first study to elaborate how FRBRoo can play a role as a shared ontology to integrate the heterogeneous metadata generated by museums and libraries. This paper also shows how the proposed approach is distinct from the Dublin Core format crosswalk in re-contextualizing semantic meanings and their relationships, and further provides four new sub-types for mapping description language.

This paper aims to explore empirically the interactions between the coronavirus disease 2019 (COVID-19) pandemic, economic mobility and containment policy to test the effectiveness of mobility restrictions in controlling the spread of the disease.

This study used weekly regional data for the 17 Philippine regions and estimated the effect of shocks using a panel vector autoregression (VAR) model.

The authors conclude that COVID-19 deaths and incidence primarily respond to shocks that affect the lethality and transmissibility of the disease, and mobility restrictions and strict quarantine levels do not seem to have any impact on these outcomes. The movement of people during this pandemic period, on the other hand, seems to respond more to economic factors and government restrictions and less to the presence of and the characteristics of the disease.

Since the pandemic is a public bad, community cooperation is a must to address it. Clear government messaging that dispels doubts on the safety of the newly developed vaccines and that encourages public acceptance and trust might be a better nudge compared to a heavy-handed and threatening approach.

This study aims to determine whether the transmission of monetary policy to the real economy depends on the structural conditions of financial stability. In particular, the paper shows that the effects of shocks to financial stability on output and inflation is conditional on the state of credit in the economy, measured broadly as a credit-to-GDP.

The authors use a threshold vector autoregression model with Bayesian techniques to investigate the impact of private nonfinancial sector credit on the dynamic relationship between financial conditions, monetary policy transmission mechanism and macroeconomic performance in Kazakhstan from 2005:Q1 to 2020:Q1.

In the modeled threshold vector autoregression (VAR) specification, the authors document that when the credit-to-GDP gap is low or the credit is below its trend, an increase to the interest rate leads to a short-term economic expansion. However, when the credit-to-GDP gap is high or the nonfinancial credit is above its trend, a tightening in monetary policy leads to an economic contraction with domestic financial conditions being weaker compared to a low credit environment.

The outcome is consistent with the related literature, which argues that a more sustained increase in credit is followed by a sharper economic contraction, but only when the economy is in the high credit state. These results highlight that financial stability measures (e.g. credit state) is important to take into account when conducting monetary policy in emerging economies.