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Article
Publication date: 24 August 2021

Praveenkumar Thaloor Ramesh, Vijayaraja Kengaiah, Endalkachew Mosisa Gutema, Prabu Velusamy and Dhivya Balamoorthy

The purpose of the study is to design economical shock tube. It is an instrument used for experimental investigations not only related to shock phenomena but also for the…

Abstract

Purpose

The purpose of the study is to design economical shock tube. It is an instrument used for experimental investigations not only related to shock phenomena but also for the behavior of the material when it is subjected to high-speed flow. The material used here in this shock tube is stainless steel ss304 and aluminum. A shock tube consists of two sections, namely, the driver and the driven. The gas in the driven and driver is filled with atmospheric air and nitrogen, respectively, under the predominant condition.

Design/methodology/approach

The focus of the study is on the design and fabrication of shock tubes. a shock tube is a research tool to make an aerodynamic test in the presence of high pressure and temperature by generating moving normal shock waves under controlled conditions.

Findings

The main necessity for instrumentation in the shock tube experiment is to know the velocity of the moving shock wave from which the other parameters can be calculated. the pressure transducers are located in the shock tube in various locations to measure aerodynamic parameters in terms of pressure.

Originality/value

The main objective of this project work is to make an experimental setup to produce supersonic velocity with the readily available material in the market in a highly safe manner.

Details

Aircraft Engineering and Aerospace Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1748-8842

Keywords

Content available
Article
Publication date: 7 October 2021

Le Thanh Ha and Finch Nigel

This paper analyzes variations in effects of monetary and fiscal shocks on responses of macroeconomic variables, determinacy region and welfare costs due to changes in…

Abstract

Purpose

This paper analyzes variations in effects of monetary and fiscal shocks on responses of macroeconomic variables, determinacy region and welfare costs due to changes in trend inflation.

Design/methodology/approach

The authors develops the New-Keynesian model, which the central banks can employ either nominal interest rate (IR rule) or money supply (MS rule) to conduct monetary policies. They also use their budgets for capital and recurrent spending to conduct fiscal policies. By using simulated method of moment (SMM) for parameter estimation, the authors characterize Vietnam's economy during 1996Q1 -2015Q1.

Findings

The results report that consequences of monetary policy and fiscal policy shocks become more serious if there is a rise in trend inflation. Furthermore, the money supply might not be an effective instrument and using the government budget for recurrent spending produces severe consequences in the high-trend-inflation economy.

Originality/value

This is the first paper that examines the effects of trend inflation on the monetary and fiscal policy implementation in the case of Vietnam.

Details

Journal of Economics and Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1859-0020

Keywords

Content available
Article
Publication date: 22 October 2021

Bilal Ahmad and Nadia Nasir

This study examines the relationship of positive career shocks and career optimism. The mediating role of career decision-making self-efficacy (CDSE) between positive…

Abstract

Purpose

This study examines the relationship of positive career shocks and career optimism. The mediating role of career decision-making self-efficacy (CDSE) between positive career shocks and career optimism, and the moderating role of consideration of future consequences – immediate (CFC-I) between CDSE and career optimism is checked.

Design/methodology/approach

Through cluster sampling, cross-sectional data from 192 professionals of electronic media industry were collected via an electronically administered questionnaire. For preliminary descriptive data analysis SPSS version 21 was used. SmartPLS version 3.0 was used for testing the proposed hypotheses.

Findings

The results showed that positive career shocks have a relationship with career optimism via CDSE. Also, CFC-I moderated the relationship of CDSE and career optimism such that the relationship of CDSE and career optimism was stronger at higher level of CFC-I.

Practical implications

The study provides implications for the career consultants, human resource professionals and senior management of organizations. All these stakeholders can strive to build an inventory of positive career shocks. Also, shifting to a surprised business model of announcing compensations and promotions is another area to work on. The results of this study further suggest disengaging the fresh potential employees in the initial processes of recruitment. Interdepartmental coordination of health and safety department and human resource management department is also very important implication of this study to highlight the positive aspects of being optimistic.

Originality/value

The study is among the few empirical studies which investigates the relationship between positive career shocks and career optimism via CDSE. Also, in light of the latest call of various empirical works in the domain, this study adds a moderating variable i.e. CFC-I in predicting career optimism. Furthermore, contrary to the conventional approach of applying students' data on career models, this study tests the proposed career model on data collected from professionals.

Details

Journal of Asian Business and Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2515-964X

Keywords

Content available
Article
Publication date: 28 September 2021

Jos Akkermans, Ricardo Rodrigues, Stefan T. Mol, Scott E. Seibert and Svetlana N. Khapova

This article aims to introduce the special issue entitled “the role of career shocks in contemporary career development,” synthesize key contributions and formulate a…

Abstract

Purpose

This article aims to introduce the special issue entitled “the role of career shocks in contemporary career development,” synthesize key contributions and formulate a future research agenda.

Design/methodology/approach

The authors provide an introduction of the current state-of-the-art in career shocks research, offer an overview of the key lessons learned from the special issue and present several important avenues for future research.

Findings

The authors discuss how the special issue articles contribute to a better understanding of career shocks' role in contemporary career development, focusing on (1) conceptual clarity of the notion of career shocks, (2) career outcomes of career shocks, (3) mechanisms that can explain the impact of career shocks and (4) interdisciplinary connectivity.

Originality/value

This article offers a synthesis of the critical contributions made within this special issue, thereby formulating key ways to bring the field of career shocks research forward. It also provides new avenues for research.

Details

Career Development International, vol. 26 no. 4
Type: Research Article
ISSN: 1362-0436

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Article
Publication date: 1 December 2006

Alagar Rangan, Dimple Thyagarajan and Y Sarada

The purpose of this paper is to generalize Yeh and Zhang's 2004 random threshold failure model for deteriorating systems.

Abstract

Purpose

The purpose of this paper is to generalize Yeh and Zhang's 2004 random threshold failure model for deteriorating systems.

Design/methodology/approach

An N‐policy was adopted by which the system was replaced after the Nth failure.

Findings

The model was found to have practical applications in warranty cost analysis.

Originality/value

By identifying the instance of a shock as the failure of the system and the threshold times as the warranty period offered and changing the definition of lethal shock (system failure in this case) as the occurrence of a shock within a threshold period in our generalized model, one can study the renewing warranty cost analysis.

Details

International Journal of Quality & Reliability Management, vol. 23 no. 9
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 1 August 1998

Michael Funke and Stephen Hall

UK regional data on GDP and the GDP deflator are analysed to extract information on underlying demand and supply shocks as well as aggregate demand and supply shocks

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Abstract

UK regional data on GDP and the GDP deflator are analysed to extract information on underlying demand and supply shocks as well as aggregate demand and supply shocks. Identification is achieved using long run restrictions, based on a theoretical model. The main results are that the supply shocks are almost completely symmetric across UK regions and that there is no evidence of these shocks being propagated slowly across the regions.

Details

Journal of Economic Studies, vol. 25 no. 4
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 6 August 2021

Idris A. Adediran, Abdulfatai Salawudeen and Syed Nasir Ashraf Sabzwari

This paper aims to make the first attempt to study the transmission of COVID-19 pandemic-induced shocks to the global Islamic stock markets in the midst of the overall…

Abstract

Purpose

This paper aims to make the first attempt to study the transmission of COVID-19 pandemic-induced shocks to the global Islamic stock markets in the midst of the overall macroeconomic environment and cross-country trade linkages. This is made possible by constructing a global vector autoregressive (GVAR) model and with it the authors arrive at noteworthy conclusions.

Design/methodology/approach

The paper estimates both fixed and time-varying weights GVAR models for 15 Islamic stock markets with 5,000 bootstrap replications and reports impulse response functions. It simulates four shocks associated with the pandemic: first, a standard error negative shock to oil price; second, a standard error negative shock to the global Islamic stock markets; third, a standard error positive shock to equity-based uncertainty index; and fourth, a standard error negative shock to economic activity (inflation).

Findings

The paper shows that the pandemic engenders immediate negative impacts on the Islamic stock markets with the biggest impacts borne by the USA and China and the least by markets in the Middle East. The study documents the magnitudes of the responses to the shocks and shows that the impacts of the pandemic will take about 20 months to wither completely.

Originality/value

The findings throw up diversification benefits for investors toward the UAE, Oman, Bahrain and other Middle East markets especially during crisis. It further reveals the need for counter-cyclical measures in all countries to curtail the negative impacts of the pandemic which could linger for up to 20 months.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 19 August 2021

Timothy Maholi Sinamo and Dewi Hanggraeni

In examining an economic fluctuation, researchers often refer to the theories of impaired access to capital which mostly explain, from the perspective of bank lending…

Abstract

Purpose

In examining an economic fluctuation, researchers often refer to the theories of impaired access to capital which mostly explain, from the perspective of bank lending supplies, a shock in firm’s access to investment would decrease its capital expenditures and net debt issuance during crisis period. However, some studies show that this is not always the case. A demand shock theory can explain the decrease in firm’s capital expenditures and net debt issuance during crisis period, but there should be no causal link between the two. This is because firms naturally do not invest during crisis period because of a decrease in investment wealth during crisis period. This paper aims to examine these theories with respect to the Covid-19 crisis in Indonesia.

Design/methodology/approach

The change in firms’ capital expenditure and net debt issuance is analyzed using a non-parametric difference-in-difference and matching estimator across four firm-dimensions to see whether the implications of the supply shock theory apply to the current crisis or if that firms naturally do not invest during the crisis. In addition, this paper provides the result of panel regression to confirm the causal link between firms’ investment funds and capital expenditure, with an addition of consumer confidence index to accommodate the implications of the demand shock theory.

Findings

The results of this paper show that the implications of the supply shock theory cannot explain the economic fluctuation during the Covid-19 crisis. Rather, the results suggest that firms naturally do not want to invest during the crisis and that the demand shock can better explain the economic fluctuation during the Covid-19 crisis. This is confirmed by the result of panel regression which shows that only consumer confidence index has a significant positive relationship with firms’ capital expenditure.

Originality/value

This is the first study to examine the theory of impaired access to capital with respect to the Covid-19 crisis in Indonesia.

Details

Journal of Asia Business Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1558-7894

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Article
Publication date: 3 September 2021

Elisabete Neves, Vítor Oliveira, Joana Leite and Carla Henriques

This paper aims to better understand if speculative activity is a factor or even the main factor in the run-up of oil prices in the spot market, particularly in the recent…

Abstract

Purpose

This paper aims to better understand if speculative activity is a factor or even the main factor in the run-up of oil prices in the spot market, particularly in the recent price bubble that occurred in the period from mid-2003 to 2008.

Design/methodology/approach

The methodology used is based on an existing vector autoregressive model proposed by Kilian and Murphy (2014), which is a structural model of the global market for crude oil that accounts for flow demand and flow supply shocks and speculative demand oil shocks.

Findings

From the output of the authors’ structural model, the authors ruled out speculation as a factor of rising oil prices. The authors have found instead that the rapid oil demand caused by an unexpected increase in the global business cycle is the most accurate culprit. Despite the change of perspective in the speculative component, the authors’ conclusions concur with the findings of Kilian and Murphy (2014) and others.

Originality/value

As far as the authors are aware, this is the first time that a study has used as a spread oil variable, a speculative component of the real price, replacing the oil inventories considered by Kilian and Murphy (2014). Another contribution is that the model used allows estimating traditional oil demand elasticity in production and oil supply elasticity in spread movements, casting doubt on existing models with perfect price-inelastic output for crude oil.

Details

China Finance Review International, vol. 11 no. 4
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 3 June 2021

Chokri Zehri

By reinforcing monetary policy independence, reducing international financing pressures and avoiding high-risk takings, capital controls strengthen the stability of the…

Abstract

Purpose

By reinforcing monetary policy independence, reducing international financing pressures and avoiding high-risk takings, capital controls strengthen the stability of the financial system and then reduce the volatility of capital inflows. The objective of this study was to conduct an empirical examination of this hypothesis. This topic has received strong support in the theoretical literature; however, empirical work has been quite limited, with few empirical studies that provide direct empirical support to this hypothesis.

Design/methodology/approach

This study analyzed quarterly data of 32 emerging economies over the period between 2000 and 2015 and proposes two methods to identify capital control actions. Using panel analysis, Autoregressive Distributed Lag and local projections approaches.

Findings

This study found that tighter capital controls may diminish monetary and exchange rate shocks and reduce capital inflows volatility. Furthermore, capital controls respond counter-cyclically to monetary shocks. Under capital controls, countries with floating exchange rate regimes have more potential to buffer monetary shocks. We also found that capital controls on inflows are more effective for reducing the volatility of capital inflows compared to capital controls on outflows.

Originality/value

This study contributes to the question of the effectiveness of capital controls in attenuating the effects of international shocks and reducing the volatility of capital flows. Previous studies have mostly focused on the role of macroprudential regulation; however, there is a lack of systematic effects of capital controls on monetary and exchange rate policies. To our knowledge, this is the first preliminary study to suggest that capital controls may buffer monetary and exchange rate shocks and reduce the volatility of capital inflows. This study investigates the novel notion that capital controls allow for a notable counter-cyclical response of monetary and exchange rate policies to international financial shocks.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

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