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This chapter estimates causality properties between real money demand and a number of determinants, that is, real output, the lending rate and the real exchange rate, across 10 Asian economies through linear and nonlinear causality methodologies spanning the period 1990–2012. The results document both bidirectional and unidirectional causality between monetary aggregates (M1 and M2) and their determinants for different country groups. The empirical findings exemplify the role of the demand for money as a policy tool and can provide useful policy recommendations to the Asian monetary authorities in their vision of forming a future monetary union.

This chapter model the factors behind the instability of exchange rate by using exchange market pressure (EMP) index. The authors focus first to construct the EMP and then secondly, test the interrelationship between EMP, real gross domestic product, money supply (M2), consumer price index, trade openness and share price using quarterly data in selected East Asian countries. The empirical results of this study explicitly indicate that EMP is determined by the states of other variables in most of the studied countries. Planning on the macrolevel is essential when managing and ensuring continuous monitoring of the exchange rate condition. This would translate into positive macroeconomic welfare and economic growth sustainability.

This paper aims to examine association of money demand with key macroeconomic variables in Pakistan. The paper also investigates the asymmetric effect of real effective exchange rate (REER) on money demand.

The study employs both linear autoregressive distributed lag (ARDL) and non-linear autoregressive distributed lag (NARDL) model. Annual data from 1970 to 2018 is used which is subjected to non-linearity through partial sum concept. Empirical analysis is conducted to prove if money demand is influenced by currency appreciation or depreciation, for long and short run.

Cointegration test indicates existence of a long-run relationship between money demand and its determinants. Results from NARDL model suggest negative relation between money demand and inflation in long and short run. Real income shows positive but a very minimal and insignificant effect on money demand in long and short run. Impact of call money rates is statistically significant and negative on M1 and M2. Wald tests and differing coefficient sign confirm presence of asymmetric relation of REER in long run with M2, whereas in short run we observe a linear, symmetrical relation of REER with M1 and M2. Stability diagnostic tests (CUSUM and CUSUMSQ) verify stability of M2 demand model in Pakistan.

Results signify that role of money demand is imperative as a monetary policy tool and it can be utilized to achieve objective of price stability. Additionally, exchange rate movements should be critically examined by monetary authorities to avoid inflationary pressures resulting from an increase in demand for broad monetary aggregate.

The paper contributes to scarce monetary literature on asymmetrical effects of exchange rate in Pakistan. Impact of variables has been studied through linear approach, but this paper is unique since it attempts to explore non-linear relationships.

This chapter analyses efforts exerted and utilities obtained in a double lawsuit. This is a usual situation when insurance companies are involved in damage compensation. A victim files the first lawsuit against its insurance company for coverage. If the victim loses, there are no further lawsuits. If the victim wins, the insurance company files the second lawsuit against the perpetrator to recover its expenses.

The situation is described as a two-period game, which is solved with backward induction. The model is based on the Hirshleifer and Osborne (2001) litigation success function that expresses influence of the counterparts’ efforts on the outcome of a lawsuit.

The chapter analyses the optimal resource allocations in each lawsuit as functions of effort unit costs, the value of each lawsuit and the contest intensities in the lawsuits. It is shown that a one-period game where the victim, the insurance company and the perpetrator choose their efforts simultaneously and independently gives the same solution as the two-period game.

In 2008 in the United States 15 million lawsuits were filed. Several of these were linked in the sense that subsequent lawsuits depend on the outcomes of earlier lawsuits.

Lawsuits are commonly analysed separately. The chapter analyses in a novel manner the implications of two linked lawsuits referred to as a double lawsuit.

Monthly 1980–2014 data are examined to determine how employment responds to money supply shocks in Canada and the United States. The focus of the analysis is a comparison of the real economies’ responses to the financial crisis and the great recession. Employment is used as a proxy for real output, though it may respond to monetary shocks with a longer lag. Vector autoregression models are specified, estimated, and interpreted. Impulse response functions are examined to assess the impact of innovations in monetary policy. A comparison of the response of employment to monetary innovations allows for evaluation of alternative business cycle theories and of the relative efficacy of Canadian v. U.S. monetary policy. Cross-border impacts are also assessed. Granger causality tests are used to examine whether money supply growth causes unemployment, whether monetary shocks cause higher or lower employment, and distinguish between short-run and long-run effects.

Due to deregulation, the New Zealand retail banking environment is characterized by change, especially in the area of self‐service technologies. The success of these technology projects has been mixed, and one must question whether or not the suppliers of these technologies have a true understanding of consumer needs. Draws a comparison between what the consumers see as being important influences in the adoption or non‐adoption of retail banking self‐service technologies; and what the suppliers of these technologies (i.e. banking and technology experts) perceive as being important influences in the consumer adoption or non‐adoption of self‐service retail banking technologies. To achieve this, a review was conducted of the literature relating to consumer surveys which investigated why consumers do or do not adopt the main self‐service technology in retail banking: automated telling machines. The themes from this review were identified. A Delphi study was then conducted with New Zealand′s leading experts in the area of retail banking technologies. A comparison between the themes from the literature and the results of the Delphi study indicated that the suppliers of technology do in fact have an understanding of those variables, which affect consumer adoption of self‐service technologies in retail banking.

Corrosion protection efficiency of any protective system depends not only on the nature and quality of the coating system used but also on the condition of the mrface on which it is to be applied. Various metal cleaning methods include (a) chemical cleaning — solvent degreasing, alkali cleaning and acid pickling (b) mechanical cleaning — shot blasting and (c) chemical conversion coatings — phosphating. Several of the recent advances in the field of prepaint treatment of steel have had as an objective the provision of an intrinsically fine, compact, well adhered zinc phosphate coating. Studies in this direction have been carried out in Central Building Research Institute, Roorkee and conditions for a suitable phosphating process have been optimised. Some work on the development of zinc rich paints based on both inorganic as well as organic binders have already been reported. The study has been extended by evaluating the performance of these zinc rich coatings on phosphated steel panels. In this report the performance of the above mentioned coatings when applied on the phosphated steel panels have been discussed. The studies reported include the preparation of the phosphated mild steel panels having three levels of coating wight ranging between 1.5–7.5 g/m2 (obtained by varying only the immersion time and keeping other parameters similar). A cost of zinc rich paint (75m?) based on either sodium silicate or chlorinated rubber binder was then applied on these panels along with the unphosphated ones. Comparison of the corrosion protection efficiency of the various systems thus obtained was carried out by using both laboratory and accelerated laboratory tests as well as by outdoor exposure studies. The performance of the coatings on phosphated panels has been remarkedly satisfactory as compared to the unphosphated panels. This is particularly so when the coating weight of the phosphate layer is between 4.5–7.5 g/m2; there is not any marked difference in the performance of paints applied on a phosphated layer with a coating weight of about 1.5 g/m2 as compared to the unphosphated panels.

IN the investigation of stability problems in physical science it is essential that ‘stability criteria’ be available to ensure that the characteristic equation, which is usually an algebraic polynomial equation, is such that the roots, if real, are negative; and, if complex, have their real parts negative.

Taking its cue from the UK government's declaration that every new home should be ‘zero-carbon’ by 2016, this paper explores how close a flexible, prototype-housing model might come to meeting this target (accepting that there is currently some ambiguity between the respective official ‘zero-carbon’ definitions regarding off-site renewable supply). The prime aim is to design economically (affordable by housing associations) to the European ‘passive house’ standard of no more than 15 kWh/m2 for space heating and a maximum total consumption of 70 kWh/m2 adding in hot water and electricity. The model also prioritizes generous access to sunlight and daylight, as well as realistic levels of air change in a low-volume, intensively occupied scenario. Associated aims are: a) to meet thermal loads without use of fossil fuels such as gas or oil; and b) to employ architecturally integrated active solar thermal and electrical arrays to respectively meet at least one third of the water heating and electrical loads. Micro-wind generation is excluded from the study as too site-dependent. A subsidiary agenda is to achieve a flexible plan in terms of orientation and access, and to provide utility facilities that support the environmental strategy (e.g. drying clothes without compromising energy use or air quality). The paper goes on to address equivalent prospects for retrofit, briefly discusses institutional and other barriers to achievement, and muses on how much of the balance of the electrical demand can be met renewably in Scotland in the near future.