A Small Open Economy DSGE Model for Pakistan

This paper estimates a small open economy Dynamic Stochastic General Equilibrium (DSGE) model for Pakistan using Bayesian simulation approach. Model setup is based on new Keynesian framework, characterized by nominal rigidity in prices with habit formation in household’s consumption. The core objective is to study whether an estimated small open economy DSGE model provides a realistic behavior about the structure Pakistan economy with fully articulated description of the monetary policy transmission mechanism vis-à-vis domestic firm’s price setting behavior. To do so, we analyze the impulse responses of key macro variables; domestic inflation, imported inflation, output, consumption, interest rate, exchange rate, term of trade to different structural/exogenous shocks. From several interesting results, few are; (a) high inflation in Pakistan do not hit domestic consumption significantly; (b) Central bank of Pakistan responds to high inflation by increasing the policy rate by 100 to 200 bps; (c) exchange rate appreciates in both the cases of high domestic and imported inflation; (d) tight monetary policy stance helps to curb domestic inflation as well as imported inflation but appreciates exchange rate significantly (f) pass through of exchange rate to domestic inflation is very low; finally parameter value of domestic price stickiness shows that around 24 percent domestic firms do not re-optimize their prices which implies averaged price contract is about two quarters.New-Keynesian economics; open economy DSGE models; nominal rigidities; monetary policy transmission mechanism; Bayesian Approach

Spectrum sharing security and attacks in CRNs: a review

Cognitive Radio plays a major part in communication technology by resolving the shortage of the spectrum through usage of dynamic spectrum access and artificial intelligence characteristics. The element of spectrum sharing in cognitive radio is a fundament al approach in utilising free channels. Cooperatively communicating cognitive radio devices use the common control channel of the cognitive radio medium access control to achieve spectrum sharing. Thus, the common control channel and consequently spectrum sharing security are vital to ensuring security in the subsequent data communication among cognitive radio nodes. In addition to well known security problems in wireless networks, cognitive radio networks introduce new classes of security threats and challenges, such as licensed user emulation attacks in spectrum sensing and misbehaviours in the common control channel transactions, which degrade the overall network operation and performance. This review paper briefly presents the known threats and attacks in wireless networks before it looks into the concept of cognitive radio and its main functionality. The paper then mainly focuses on spectrum sharing security and its related challenges. Since spectrum sharing is enabled through usage of the common control channel, more attention is paid to the security of the common control channel by looking into its security threats as well as protection and detection mechanisms. Finally, the pros and cons as well as the comparisons of different CR - specific security mechanisms are presented with some open research issues and challenges

EFFICIENT MARKETING OF BLUEBERRIES IN MISSISSIPPI AND LOUISIANA

Fresh blueberries are sold through a marketing cooperative of the blueberry industry in Mississippi and Louisiana. Blueberry producers have numerous alternatives in assembling blueberries, and the cooperative needs to know the costs of different systems for assembling berries in order to provide better services to its members. The main objective of this study was to determine an efficient system for handling blueberries in Mississippi and Louisiana. Sixteen models with different combinations of drop stations and shipping points were evaluated. The results of this study will help the Miss-Lou Association and farmers to better develop strategies for handling and marketing blueberries in the future. It will assist the Miss-Lou Association in determining the number, size, and locations of drop stations/shipping points with change in production each year.Marketing,