The national total expenditure of a country is precipitated on several factors of which revenue generated could be one and very significant. This paper therefore examines the contribution of some selected sources of Nigerian government revenue to total national expenditure. Statistical and econometric techniques used for the data analysis are unit root test, cointegration test, combined estimators’ analysis, the error correction model (ECM) and the feasible generalized linear (FGLS) estimators. Results showed that the variables are non stationary but are stationary at first difference. The long-run relationship of total expenditure on oil revenue, non-oil revenue, federation account and federal retained revenue revealed that the variables are co-integrated and required the use of combined estimators. The effect of non-oil revenue and federal retained revenue is very significant. Investigations on the short-run modeling necessitated the use of FGLS estimators. The effect of ECM and federal retained revenue is very significant. Consequently, other sources of revenue apart from federal retained revenue need to be enhanced and tailored towards improving economic growth and development through national expenditure.

Bartlett’s paradox has been taken to imply that using improper priors results in Bayes factors that are not well defined, preventing model comparison in this case. We use well understood principles underlying what is already common practice, to demonstrate that this implication is not true for some improper priors, such as the Shrinkage prior due to Stein (1956). While this result would appear to expand the class of priors that may be used for computing posterior odds, we warn against the straightforward use of these priors. Highlighting the role of the prior measure in the behaviour of Bayes factors, we demonstrate pathologies in the prior measures for these improper priors. Using this discussion, we then propose a method of employing such priors by setting rules on the rate of diffusion of prior certainty.

This paper defines the concept of simple strategy and introduces three kinds of simple strategies: wealth-invariant, scale-invariant and "wealthier-accept more". For three commonly used utility function families: CARA, CRRA and DARA equivalent characterizations are obtained in terms of the corresponding simple strategy, in terms of the buying and selling price properties, and in terms of the utility function properties as expressed by Cauchy functional equations. Moreover, an extension of famous Pratt (1964) theorem is proved which involves buying price for a lottery as an alternative measure of comparative risk aversion. Additionally a number of propositions on both selling and buying price for a lottery and CRRA utility class are proved.

In the public debate, it is argued that Poland avoided a massive drop in output during the 2008/2009 economic crisis in part thanks to substantial nominal zloty’s depreciation against the euro. The Polish case is often contrasted with Slovakia that adopted the euro in January 2009 and, since the Ecofin Council decision in summer 2008, exhibited virtually no nominal exchange rate volatility while facing deep losses in output. In this paper we attempt to validate this contrast by reversing the roles, i.e. checking if Poland really would have faced the same drop – and Slovakia would have remained relatively resilient – if it had been Poland, not Slovakia, that adopted the euro at that point. Our counterfactual simulations based on a New Keynesian DSGE model indicate that, indeed, the Polish tradable output could have been 10‒15 percent lower than actually observed in 2009, while the Slovak one – approximately 20 percent higher. This asymmetry results mainly from structural differences between the two economies, such as size, openness, share of nontradable sector and foreign trade elasticities. The difference of this size would have been short-lived (3‒4 quarters), and the difference of the nontradable output would have been of much lower magnitude.

A review of the contemporary mainstream literature on exchange rate modelling clearly indicates that the rational expectations hypothesis (RE) is almost invariably taken as a point of reference in empirical investigations. This paper tests the RE hypothesis for the Polish foreign exchange market within the Roman Frydman and Michael Goldberg model that builds on the hypothesis of imperfect knowledge economics (IKE). The employed modelling strategy consists in the formulation of assumptions about the persistence of nominal rate, prices and interest rates and of the verification of competing scenarios congruent with RE and IKE. As a result of the analysis, the RE hypothesis is rejected in favour of the IKE alternative.

We consider fiscal and monetary policy interactions in a monetary unionunder monetary leadership, when the common central bank is concerned with theaverage fiscal stance of the union. We use a static two-country monetary unionmodel to investigate the policy-mix problem under different regimes of non-cooperation, cooperation, and enforced cooperation among fiscal authorities.We find that fiscal policy is unambiguously countercyclical, a feature that ismore pronounced under fiscal policy cooperation. Monetary policy can be eithercountercyclical or procyclical. A central bank concerned about the aggregatefiscal stance is effective in stabilizing output and central budget, but at theexpense of inflation stabilization.

In this study, we model realized volatility constructed from intra-day high-frequency data. We explore the possibility of confusing long memory andstructural breaks in the realized volatility of the following spot exchange rates: EUR/USD, EUR/JPY, EUR/CHF, EUR/GBP, and EUR/AUD. The resultsshow evidence for the presence of long memory in the exchange rates’ realizedvolatility. From the Bai–Perron test, we found structural breakpoints that matchsignificant events in financial markets. Furthermore, the findings provide strongevidence in favour of the presence of long memory.

In empirical research on financial market microstructure and in testing some predictions from the market microstructure literature, the behavior of some characteristics of trading process can be very important and useful. Among all characteristics associated with tick-by-tick data, the trading time and the price seem the most important. The very first joint model for prices and durations, the so-called UHF-GARCH, has been introduced by Engle (2000). The main aim of this paper is to propose a simple, novel extension of Engle’s specification based on trade-to-trade data and to develop and apply the Bayesian approach to estimation of this model. The intraday dynamics of the return volatility is modelled by an EGARCH-type specification adapted to irregularly time-spaced data. In the analysis of price durations, the Box-Cox ACD model with the generalized gamma distribution for the error term is considered. To the best of our knowledge, the UHF-GARCH model with such a combination of the EGARCH and the Box-Cox ACD structures has not been studied in the literature so far. To estimate the model, the Bayesian approach is adopted. Finally, the methodology developed in the paper is employed to analyze transaction data from the Polish Stock Market.

The literature investigates the relation between savings and interest rate mainly for household sector, but in recent decades households ceased to be the main source of savings in the economy. We try to identify how the savings of different sectors respond to the interest rate change using the SVAR methodology. We focus on Poland and generalize the results for other European economies. We find that although the household savings rate tends to rise after an increase of interest rate, the corporate savings simultaneously fall, inducing a negative conditional correlation between them. The responses of savings rate of general government and foreign savings are diverse (although the former usually declines after an interest rate increase) and does not seem to be related to factors like the membership in the currency union or the level of public debt. We also check the existence of the ‘crowding-out’ effects and conclude it only applies in the case of government savings crowding out household savings.

We investigate the problem of setting revenue sharing rules in a team production environment with a principal and two agents. We assume that the project output is binary and that the principal can observe the level of agents’ actual eort, but does not know the production function. Identifying conditions that ensure the eciency of the revenue sharing rule, we show that the rule of equal percentage markups can lead to ination of project costs. This result provides an explanation for project cost overruns other than untruthful cost reporting.

The insecticidal efficacy of Gmelina arborea L. product extracts was assayed for suitability in controlling the legume pod borer Maruca vitrata Fab. (Lepidoptera: Pyralidae) and the pod sucking bug Clavigralla tomentosicollis Stäl (Hemiptera: Coreidae) on cowpea. Field studies conducted in 1999 and 2000 cropping seasons at the research farm of the Institute for Agricultural Research, Samaru showed that extract of Gmelina arborea fruit at 10% (w/v) caused impressive reduction ofboth pests and protected the pods from serious damage. Grain yield was higher in the fruit extract treated plants compared to the leaf, bark treatments and the untreated control. However, all the Gmelina products’ extracts were superior (p < 0.05) to the untreated control but was not better than the synthetic insecticide (Sherpa Plus) used in all the assessments made. This study is the first reported case ofthe potential of Gmelina arborea products’ extracts for control of Maruca pod borer larvae and pod sucking bug on field cowpea. This plant could add to the pool of herbal landraces already found to be insecticidal to insect pests of tropical crops if explored and exploited for use by limited resource farmers in tropical countries.

In vitro test of antagonistic activity of culture filtrates from Trichoderma harzianum Rifai and Trichoderma pseudo-koningii Rifai strains against post-harvest pathogens of some fruits were investigated. The undiluted culture filtrates of the two Trichoderma species completely inhibited germination of conidia/spores of all the rot pathogens, but 50% dilution showed varying degree of inhibition of spore germination. T. pseudo-koningii culture filtrate had a rather moderate to strong inhibitory effect on mycelia of the pathogenic fungi. The highest per cent inhibition of 45.6% of mycelial growth was recorded for Aspergillus niger Tiegh.

Semiochemicals are defined as informative molecules mainly used in plant-insect or insect-insect interactions as alternative or complementary components to insecticide approaches in different integrated pest management strategies. They are used to manipulate insect behaviour by affecting the survival and/or reproduction of insect pests for controlling their infestations on crops. The present review provides a basic summary of the utilization of semiochemicals for controlling insect pests. Two main topics were explored in this study. The first topic focuses on a description of semiochemicals and their types (pheromones and allelochemicals). Pheromones represent an intraspecific communication amidst members of the same species. Allelochemicals, produced by individuals of one species, modify the behavior of individuals of a different species (i.e. an interspecific effect). Allelochemicals include different informative molecules such as: allomones, kairomones, synomones, antimones and apneumones. The second topic focuses on the application of semiochemicals in IPM programs. Different semiochemicals are included in integrated pest management programs in various ways such as monitoring, mass trapping, attract-and-kill, push-pull, and disruption strategies. Pheromones are promising and can be used singly or in integration with other control strategies for monitoring and controlling insect pests in agricultural systems. For example, sex pheromones have been applied in mass trapping, disruption and attract-and-kill tactics in IPM programs.

The aim of the study carried out during 2002–2004 was to assess the effects and economic effectiveness of application of fungicides and insecticides in winter triticale crops. Its leaves were attacked by pathogenic fungi in 43.2% to 52.2% and the damage to leaf blade surfaces by cereal leaf beetle (Oulema spp.) ranged from 23.6% to 34.4%. The effectiveness of applied fungicides ranged from 44.7% to 90.8%, and that of insecticides was within 70.1% and 94.4%. The saved crops were evaluated for PLN 198 to 1 171 per ha. The cost coverage ratio ranged from 0.7 to 9.9 and the treatment profitability index ranged from 0.9 to 7.4. Cost index in percentage ranged from 0.8 to 8.5, with its average value of 4.2.

Evaporation and evapotranspiration is crucial part of hydrological and water resource management studies e.g. water footprinting. Proper methods for estimating evaporation/potential evapotranspiration using limited climatic data are critical if the availability of climatic data is extremely limited. In a large scale studies are very often used generalized (modelled or gridded) input data. For a large scale water footprint studies is also important to find methods as simple as possible with quantifiable error. In our study, nine simple temperature-based empirical equations were compared with a long term time series of real evaporation data from a 20 m2 tank at Hlasivo station. In the first step, we used real temperature measured at Hlasivo station for validation of equations. In the second step, the gridded temperature data (interpolated datasets) derived from the meteorological stations were used. For both datasets, the differences between observed and predicted values were categorized into three groups of accuracy and the statistical indices of each equation were calculated. Very good results were achieved with the Hamon equation from 1961 and the Oudin equation for both datasets with index of agreement (d) higher than 0.9, cross-correlation coefficient (R2) around 0.7 and root mean square error (RMSE) around 0.5 mm∙(24 h)–1The Kharrufa equation, which was developed for semi-arid or arid areas, also provides results with sufficient accuracy. Comparison of the results with similar studies showed a lower accuracy of very simple equations against more complex equations, which have RMSE lower than 0.25 mm∙(24 h)–1. But for some kind of studies, quantifiable errors with sufficient accuracy can be more important than the absolute accuracy.

Agricultural drainage has become a priority in agriculture and the economic development of the state. Algeria has launched several agro-economic projects pertaining to natural resources and human potential for development in agricultur-al areas. Our aim is to model the morphological evolution of open drainage channels, under the influence of sedimentary transport processes. The application of the Hydrologic Engineering Center’s River Analysis System (HEC-RAS) software is to examine two-phase mathematical models. In our case it is the flow and the sedimentary charge along a trapezoidal earth channel of a wetland north east of Algeria. The results of these models were validated by actual data obtained during the observation period from 2017 to 2018, for various rainy events. The solid transport and sedimentation velocity equa-tions of Engelund and Hansen and Van Rijn respectively used by this model, give Nash performance criteria equal to 0.95 and determination coefficient R2 equal to 0.91. On the other hand, the laying of a coarse gravel layer of median diameter of the grains d50% = 60 mm on the bottom of the channels reduces the rate of sedimentation by about 32% over an 11-year pe-riod. This satisfying objective study of the modelling allows to obtain an approach to the renovation and a plan for new design of drainage systems, that participates to the sustainable development in the agricultural field.

Typhoid or enteric fever is a worldwide infection caused by the bacterium Salmonella enterica. In Sri Lanka, 12,823 Salmonella positive cases were recorded and 133 cases were recorded from Anuradhapura district during 2005 to 2014. Therefore, the study was carried out to identify the microbiological and chemical contamination status of forty-four water sources in Anuradhapura area during October 2016. The study was focused to determine total coliform, faecal coliform, Salmonella spp. and Shigella spp. contamination along with some physico-chemical parameters of both ground and surface water. Sampling, transportation, and analysis were performed following standard protocols. Results of the study revealed that almost all sampling locations were contaminated with both total and E. coli bacteria and the values were not within the World Health Organization and Sri Lanka Standards drinking water quality standards. Around 32% of sampling locations were positive for Salmonella spp. and among them, 2 spring sampling locations are being highly used to extract water for drinking. However, Shigella spp. was not recorded during the study period. Majority of the sampling points were not within the Sri Lanka drinking water standards for COD and 25% sampling locations were recorded greater than 750 μS∙cm–1 con-ductivity. Also, 55% of locations recorded very hard water where the highest values were recorded in Padaviya. The tested other water quality parameters: NO2-N, NH3-N, and total phosphate (TP) concentrations were found within the Sri Lanka drinking water standards. PCA analysis revealed that sampling locations were grouped into three groups such as; well wa-ter, tank water and springs.

The fundamental concepts of nano and quantum systems of informatics have been presented. The nanotechnological processes taking place in biological systems of informatics have been discussed in terms of informatics. Presented analysis shows that the application of nanotechnologies in the technical informatic systems enables realization of processes for formation of products and objects with self-replication feature, similarly to the processes existing in biological informatic systems. It seems also that the quantum technologies enable further miniaturization of the technical systems of informatics as well as make the execution time of some computing processes like, e.g. Shor's and Grover's algorithms, shorter.

The main focus of the paper is on the asymptotic behaviour of linear discrete-time positive systems. Emphasis is on highlighting the relationship between asymptotic stability and the structure of the system, and to expose the relationship between null-controllability and asymptotic stability. Results are presented for both time-invariant and time-variant systems.