India's demand for international reserve and monetary disequilibrium: Reserve adequacy under floating regime

The main aim of this study is to investigate India's demand for international reserve by focusing on the role of national monetary disequilibrium and to present new benchmarks for assessing the adequacy of international reserves. We assessed India's position in terms of reserve adequacy and found that India is well placed and has sufficient stock of international reserves to meet the minimum adequacy requirements. Also, the results reveal that the central bank is holding substantial excess reserves and the related opportunity cost (1.5% of GDP) appears to be quite considerable. Further, the estimates of reserve demand function suggest that scale of foreign trade, uncertainty and profitability considerations play significant role in determining India's long-term reserve demand policies. More importantly, validating the monetary approach to balance of payment, our results show that national monetary disequilibrium does play a crucial role in short-run reserve movements. An excess of money demand (supply) induces an inflow (outflow) of international reserves with an elasticity of 0.56 which also implies that Reserve Bank of India responds to correct the domestic money market disequilibrium; and did not just leave it completely on the mercy of reserve inflows.     

An improved alternative estimation procedure for current population mean in presence of positively and negatively correlated auxiliary variables in two-occasion rotation patterns

Abstract

The present study confirms the influential role of a positively and a negatively correlated auxiliary variables in enhancing the precision of estimates of current population mean in two occasion rotation (successive) sampling. Exponential-type estimators of current population mean have been proposed for three different situations: (i) the information on a positively correlated auxiliary variable is readily available on both occasions (ii) the information on a negatively correlated auxiliary variable is readily available on both occasions and (iii) the information on both positively and negatively correlated auxiliary variables are readily available on both the occasions. The characteristics of the proposed estimators have been explored and their efficacious performances are compared with the natural and recent contemporary estimators. Optimum replacement strategies of the proposed estimation procedures have been formulated. Simulation and empirical studies are carried out to justify the proposition of the proposed estimators and appropriate recommendations have been put forward to the survey practitioners.     

Statistical inference based on generalized Lindley record values

This paper addresses the problems of frequentist and Bayesian estimation for the unknown parameters of generalized Lindley distribution based on lower record values. We first derive the exact explicit expressions for the single and product moments of lower record values, and then use these results to compute the means, variances and covariance between two lower record values. We next obtain the maximum likelihood estimators and associated asymptotic confidence intervals. Furthermore, we obtain Bayes estimators under the assumption of gamma priors on both the shape and the scale parameters of the generalized Lindley distribution, and associated the highest posterior density interval estimates. The Bayesian estimation is studied with respect to both symmetric (squared error) and asymmetric (linear-exponential (LINEX)) loss functions. Finally, we compute Bayesian predictive estimates and predictive interval estimates for the future record values. To illustrate the findings, one real data set is analyzed, and Monte Carlo simulations are performed to compare the performances of the proposed methods of estimation and prediction.     

Tempered Mittag-Leffler Lévy processes

In this article, we introduce tempered Mittag-Leffler Lévy processes (TMLLP). TMLLP is represented as tempered stable subordinator delayed by a gamma process. Its probability density function and Lévy density are obtained in terms of infinite series and Mittag-Leffler function, respectively. Asymptotic forms of the tails and moments are given. A step-by-step procedure of the parameters estimation and simulation of sample paths is given. We also provide main results available for Mittag-Leffler Lévy processes (MLLP) and some extensions which are not available in a collective way in a single article. Our results generalize and complement the results available on Mittag-Leffler distribution and MLLP in several directions. Further, the asymptotic forms of the moments of the first-exit times of the TMLLP are also discussed.     

Open Dialogue: Frequently Asked Questions

Open Dialogue is an approach to working with people and their families experiencing psychosocial distress. Interest in Open Dialogue in Australia has been growing recently, raising questions about its adaption and implementation to local contexts. This article is an attempt to answer some of the frequently asked questions we have encountered in training and discussions about Open Dialogue. We attempt to provide responses to questions of how Open Dialogue is different to what is done already, how it fits with current approaches, how you know if you are doing it, whether it is passive or just about doing reflections, issues about including the social network, and concerns about the evidence base. This article aims to present a variety of viewpoints in relation to these questions and to hopefully further discussions on how Open Dialogue can be implemented and adapted to Australian health care and social care contexts.     

Analyzing the dynamic system model with discrete failure time distribution

The present study deals with the method of estimation of the parameters of k-components load-sharing parallel system model in which each component’s failure time distribution is assumed to be geometric. The maximum likelihood estimates of the load-share parameters with their standard errors are obtained. (1 − γ) 100% joint, Bonferroni simultaneous and two bootstrap confidence intervals for the parameters have been constructed. Further, recognizing the fact that life testing experiments are time consuming, it seems realistic to consider the load-share parameters to be random variable. Therefore, Bayes estimates along with their standard errors of the parameters are obtained by assuming Jeffrey’s invariant and gamma priors for the unknown parameters. Since, Bayes estimators can not be found in closed form expressions, Tierney and Kadane’s approximation method have been used to compute Bayes estimates and standard errors of the parameters. Markov Chain Monte Carlo technique such as Gibbs sampler is also used to obtain Bayes estimates and highest posterior density credible intervals of the load-share parameters. Metropolis–Hastings algorithm is used to generate samples from the posterior distributions of the unknown parameters.     

Improved randomized response in additive scrambling models

Randomized response models deal with stigmatizing variables appearing in health surveys. Additive and subtractive scrambling in split sample and double response yield unbiased mean and sensitivity estimators of high precision. The split sample method is protective of privacy. The double response method is as protective only conditionally. To achieve the maximum efficiency, the scrambling variables must be similar to each other and the probability of obtaining a true response must be as large as possible. The randomized response procedures yield more efficient estimates of the average total number of classes missed by university students.     

What shapes plant and animal diversity on urban golf courses?

Recent concern over increasing loss of biodiversity has prompted considerable interest in the role of urban green spaces as reservoirs of local biodiversity. This study assessed the diversity of three indicator taxa - plants, ants and birds - on golf courses spanning a wide range of environmental variation in terms of climate, elevation, course age, size and connectivity to native woodland. Species richness and community composition was further compared between contrasting on-course habitat types that reflect different management intensities. We identified a set of taxon-specific environmental correlates indicating an intricate interplay of landscape- and local-scale variables that affect local species diversity. Our results show that floristic diversity is positively associated with the amount of rainfall, whereas ant and bird diversity are related to local-scale factors, particularly the number of trees and the size of water features on a site. The amount of on-course native habitat was a strong predictor of plant and ant diversity and was also associated with the number of unique species at the site level; this reinforces the value of remnant habitat patches as local biodiversity reservoirs that represent mini hot-spots in an otherwise species-poor urban landscape. Community composition for all three taxa differed markedly between non-playing and playing areas, with boundary and remnant habitats generally having more diverse, species-rich communities. Our results suggest that local floral and faunal biodiversity on urban golf courses can be enhanced by creating woody non-playing areas and, especially, by preserving, restoring or expanding remnant habitats.     

Housing interventions for homeless,pregnant/parenting women with addictions: a systematic review

Family homelessness is a growing problem in North America with most of these families headed by single women. Homeless women also experience high rates of pregnancy and addiction (drugs and alcohol). Housing interventions have been identified as key to addressing the complex needs of pregnant/early parenting, homeless women with addictions. The aim of this systematic review is to determine what housing models and programs for this population yield the best outcomes. We systematically searched 10 databases and retrieved eight articles describing four distinct studies that met the inclusion criteria for this review. Overall, improved outcomes were found for all intervention groups with the most recent and rigorous studies favoring models combining Housing First and case management. However, methodological limitations, study quality, and varied outcomes made comparison across studies difficult. Further research must be done in this area using standardized outcomes and rigorous designs to develop evidence-based best practice guidelines to address the unique needs of this population.     

The exponentiated reduced Kies distribution: Properties and applications

Here we consider an exponentiated version of the reduced Kies distribution and discuss some of its properties. The parameters of the distribution are estimated by the method of maximum likelihood and illustrated with the help of certain real-life data sets. Asymptotic behavior of the maximum likelihood estimators of the parameters of the distribution is also studied by using certain simulated data sets.