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Wyświetlanie 1-14 z 14
Tytuł:
An Analysis of the Electron Density and Drift Rate of Solar Burst Type III During 13th of May 2015
Autorzy:
Ali, M. O.
Hamidi, Z. S.
Shariff, N. N. M.
Monstein, C.
Powiązania:
https://bibliotekanauki.pl/articles/1192997.pdf
Data publikacji:
2016
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
Coronal Mass Ejections (CMEs)
Sun
X-ray region
radio region
solar burst
solar flare
type III
Opis:
During 13th of May 2015, the solar wind is very high velocity, which is 733 kms-1 as compared to 367.5 kms-1. It is believed that the plasma–magnetic field interactions in the solar corona can produce suprathermal electron populations over periods from tens of minutes to several hours, and the interactions of wave-particle and wave-wave lead to characteristic fine structures of the emission. An intense and broad solar radio burst type II was recorded by CALLISTO spectrometer from 20-85 MHz. Using data from a the Blein observatory, the complex structure of solar burst type III can also be found in the early stage of the formation of type III solar burst type event due to active region AR 12339. The drift rate of solar burst type III exceeds 1.0 MHz/s with 6.318 x1012 e/m3 a density of electron in the solar corona. There were also 2 groups of solar radio burst type III were observed. This CME was detected at 08:36 UT which is 1and ½ hour after the solar burst detected. This event shows a strong radiation in radio region, but not in X-ray region.
Źródło:
World Scientific News; 2016, 31; 1-11
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The Enlargement of Type II Burst After Type III at AR 12522 on 16th March 2016 In Conjunction With Flare-Related Coronal Mass Ejections Event
Autorzy:
Husien, Nurulhazwani
Hamidi, Z. S.
Shariff, N. N. M.
Ali, M. O.
Zainol, N. H.
Sabri, S. N. U.
Monstein, C.
Powiązania:
https://bibliotekanauki.pl/articles/1178545.pdf
Data publikacji:
2017
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
Coronal Mass Ejections
Sun
X-ray emission
Opis:
On 16th March 2016 the solar radio burst type II is recorded to appear on spectrograph after the type III formation. These two bursts related to the Coronal Mass Ejections (CMEs) event that recorded by the SOHO spacecraft several minutes before the formation of Type III on the spectrograph. It has been reported that the Type III burst a fast drift compared to the Type II burst. In this paper, the calculation has been proved that the type III burst has a higher drift rate compared to Type II. These two events of Type II and III burst also has been contributing to the formation of C class flare with magnitude of C2.2 It is also proven that the type III burst has a fast drift rate compared to type II burst. In this case, the type III has a fast drift rate of 81% compared to the type II burst. During this event, the active region AR 12522 erupted the C-class X-ray emission with magnitude of C2.2 contribute to these type III and II burst
Źródło:
World Scientific News; 2017, 70, 2; 230-240
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Production of Coronal Mass Ejections in Relation With Complex Solar Radio Burst Type III Correlated With Single Solar Radio Burst Type III
Autorzy:
Hussien, Nurul Hazwani
Hamidi, Z. S.
Ali, M. O.
Sabri, S. N. U.
Zainol, N. H.
Shariff, N. N. M.
Moinstein, C
Powiązania:
https://bibliotekanauki.pl/articles/1192988.pdf
Data publikacji:
2016
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
Sun
Solar radio burst
type III
single Solar Radio Burst Type (SRBT) III
complex Solar Radio Burst Type (SRBT) III
Coronal Mass Ejection (CMEs)
magnetic reconnection
Opis:
The complex solar radio burst type III is very related to generation of Coronal Mass Ejections (CMEs). In a previous study, they deduced that the burst was produced by electron beams accelerated in blast wave shocks and injected along open magnetic field lines, similar to the herringbone bursts at metric wavelengths. Usually, if there is another solar flare recorded during complex solar radio burst type III it should be type II burst. Different for this event, the single solar radio burst recorded occur 8 minutes 30 seconds before the complex solar radio burst type III. The Coronal Mass Ejections also recorded occurred 7 hours before the single and complex solar radio burst type III. It is noted that CMEs occurred several hours before this event recorded by the SOHO websites.It is proved that the production of coronal mass ejection contributed to the production of complex solar radio burst type III.
Źródło:
World Scientific News; 2016, 36; 96-108
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Solar Radio Burst Type III due to M 2.9 Class Flare with a Geomagnetic Disturbance
Autorzy:
Hamidi, Z. S.
Ali, M. O.
Shariff, N. N. M.
Monstein, C.
Zainol, N. H.
Hussien, Nurul Hazwani
Ramli, Nabilah
Farid, M. S.
Powiązania:
https://bibliotekanauki.pl/articles/1190207.pdf
Data publikacji:
2016
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
solar radio burst
solar storm
flare
geomagnetic disturbance
Opis:
Varying forms of solar radio burst were classified by their frequent changes in time, which are known as drift rate. There are 5 types of radio emission were named type I, II, III, IV and V. This paper is highlighted on the type III event which occurred on 27th August 2015. In the IP medium, type III solar radio burst can be classified in three different groups which representing three different situations of electron beam production and propagation which are isolated, complex and storm type III burst. The most powerful manifestation of solar activity is solar flare together with coronal mass ejections, eruptive prominences and the solar wind are the solar events which affect the earth's atmosphere and can cause geomagnetic disturbance. In this study, the effect of M class flare with solar radio burst type III was investigated. During the day, the solar wind proton density seems to be high which is 8.4 protons/cm3 and accompanied by normal solar wind speed of 348.7 km/Sec. Spaceweather.com reported that there is one sunspot was detected (AR2403) and M class of the flare was detected during the day at 0544 UT. The data geomagnetic signal shows that during the day only geomagnetic disturbance that occur no such geomagnetic storm since the sunspot not facing the earth directly.
Źródło:
World Scientific News; 2016, 44; 155-167
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
An Analysis of Active Regions 11036 Characteristics Leads To Solar Flare Class C7.2 Phenomena
Autorzy:
Zainol, N. H.
Hamidi, Z. S.
Husien, Nurulhazwani
Ali, M. O.
Sabri, S. N. U.
Shariff, N. N. M.
Faid, M. S.
Monstein, C.
Ramli, Nabilah
Powiązania:
https://bibliotekanauki.pl/articles/1192106.pdf
Data publikacji:
2016
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
Solar Radio Burst Type II
solar flare
Callisto network
active region
Opis:
The solar flares are generated from electromagnetic radiation which is sudden oscillation of the stored energy in the magnetic field of the sun. Flares are categorized according to their brightness as C, M and X, where X is the brightest. The X class flares caused a long-time solar storm and ionospheric radio waves sparkling. The moderate level M class flares mostly effect polar cups and cause short-time radio sparkling. However, the C class flares are weaker than the X and M flares. In this work, we present an active region from the disturbance of magnetic field on the area of the Sun and may lead to powerful event if the magnetic field become stronger. The CALLISTO system network that has been installed in Gauri, India observed data that contain Solar Radio Burst Type II (SRBT II) occurred on 22nd December 2009 at 04:57 UT to 05:02 UT. Five active regions were obtained from online data via internet from the Space Weather website and the Solar Monitor website. All data and information from these sources assist in analyze of the phenomena. The magnetic field and X-ray flux, proton density increase the possibilities that SRBT II observed by CALLISTO network to generate powerful solar flare. When X-ray flux level was at maximum, then solar flare was at peak point. However, solar activity level was low because among of five active regions present, only one C-class flare event occurred. The most active region that contributes this event is an AR11036 with C-class flare.
Źródło:
World Scientific News; 2016, 45, 2; 80-91
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The Solar Radio Burst Type II Correlated With Minor CME Contributes to The Production of Geomagnetic Disturbance
Autorzy:
Husien, Nurulhazwani
Hamidi, Z. S.
Ali, M. O.
Zainol, N. H.
Sabri, S. N. U.
Shariff, N. N. M.
Faid, M. S.
Ramli, Nabilah
Monstein, C.
Powiązania:
https://bibliotekanauki.pl/articles/1192691.pdf
Data publikacji:
2016
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
Solar radio burst
solar radio burst type II
Coronal Mass Ejections
geomagnetic disturbance
Opis:
The solar radio burst type II on 4th November 2015 was associated with minor CME that not lead towards the Earth. This clear type II burst recorded on spectrographs detected by the antenna in several locations (Gauri, Almaty, Kasi and Ooty) were obtained from CALLISTO website. The average time of the burst occurred are around 03:24 UT until 03:28 UT with the clear minor CME emerged recorded by SOHO at 03:12 UT. Although it just a minor CME but it is still giving the effect on Earth as it contributes to geomagnetic disturbance on the Earth during that day. The affected region reported by The Local news is Sweden, where the radar system for aviation was not clear, but it is back to normal after a few hours later. This geomagnetic disturbance is powerful enough that may cause the satellite damage, endanger astronauts and produce destructive surges on power grids.
Źródło:
World Scientific News; 2016, 46; 165-175
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Current Situation of Radio Frequency Interference (RFI) Profile at Outdoor and Indoor Sites of Faculty of Applied Sciences, UITM, Malaysia
Autorzy:
Hamidi, Z. S.
Nizamudin, Nur Izzani
Shariff, N. N. M.
Syazwan, M.
Husien, Nurulhazwani
Ali, M. O.
Zainol, N. H.
Ramli, Nabilah
Sabri, S. N. U.
Monstein, C.
Powiązania:
https://bibliotekanauki.pl/articles/1191429.pdf
Data publikacji:
2016
Wydawca:
Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:
Radio Frequency Interference (RFI)
radio astronomy
RFI sources
Opis:
This Radio Frequency Interference (RFI) study is currently one of a main sub-research in radio astronomy in Malaysia. The main objective of this monitoring is to test and qualify the potential of radio astronomical sources that can be observed in Malaysia generally. Analysis process focuses at indoor and outdoor of Faculty of Applied Sciences, UITM Shah ALAM, Malaysia (latitude: 03°06.534’N, longitude: 101°50.396’E). There are three mobile network communications that operate at the upper band frequency of 1800MHz, which are Maxis (1805-1830 MHz), Celcom (1830-1855 MHz) and Digi (1855-1880 MHz) for GSM/LTE network. We observed that both sites having the highest and second highest peak at the same frequency of 420 MHz and 1835 MHz with the same source, which were due to mobile application followed by the lowest peak due to radio navigation satellite. We verified that the source of RFI of 1835 MHz at the Faculty of Applied Sciences may come from Celcom mobile telecommunication network signal because there is transmitter on top of two Celcom towers. This observation must be continuously done to ensure that RFI level does not increase drastically and to ensure that allocation spectrum band that was reserved for radio astronomy activities was always protected.
Źródło:
World Scientific News; 2016, 40; 23-33
2392-2192
Pojawia się w:
World Scientific News
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Review of mechanical vapour compression refrigeration system part 2: performance challenge
Autorzy:
Mahmood, R. A.
Ali, O. M.
Al-Janabi, A.
Al-Doori, G.
Noor, M. M.
Powiązania:
https://bibliotekanauki.pl/articles/2106451.pdf
Data publikacji:
2021
Wydawca:
Uniwersytet Zielonogórski. Oficyna Wydawnicza
Tematy:
para
układ chłodniczy
współczynnik wydajności
vapour compression
refrigeration system
cycle
coefficient of performance COP
Opis:
Reducing energy consumption and providing high performance for a vapour compression refrigeration system are big challenges that need more attention and investigation. This paper provides an extensive review of experimental and theoretical studies to present the vapour compression refrigeration system and its modifications that can be used to improve system’s performance and reduce its energy consumption. This paper also presents the challenges that can be considered as a gab of research for the future works and investigations. Cooling capacity, refrigerant effect, energy consumption can be improved by using vapour injection technique, natural working fluid, and heat exchanger. Based on the outcome of this paper, vapour injection technique using natural refrigerant such as water can provide ultimate friendly refrigeration system. Future vision for the vapour compression refrigeration system and its new design technique using Computational Fluid Dynamic (CFD) is also considered and presented.
Źródło:
International Journal of Applied Mechanics and Engineering; 2021, 26, 3; 119--130
1734-4492
2353-9003
Pojawia się w:
International Journal of Applied Mechanics and Engineering
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Fruit yield and quality of ‘Florida King’ peaches subjected to foliar calcium chloride sprays at different growth stages
Autorzy:
Shahid, M.O.
Muhmood, A.
Ihtisham, M.
Rahman, M.ur
Amjad, M.
Sajid, M.
Riaz, K.
Ali, A.
Powiązania:
https://bibliotekanauki.pl/articles/12704034.pdf
Data publikacji:
2020
Wydawca:
Uniwersytet Przyrodniczy w Lublinie. Wydawnictwo Uniwersytetu Przyrodniczego w Lublinie
Opis:
Peach fruit and trees are prone to various issues, regarding yield, quality and pest attack. Calcium plays several roles in plant and fruit development. Therefore the current study was conducted to evaluate the response of peach fruit to foliar application. The experiment was laid out in Randomized Complete Block Design with two factors factorial arrangement and three replicates. Calcium chloride was applied at the rate of 0, 1, 2 and 3%. The foliar application of calcium was done at pink bud stage, berry size fruit stage, and then at pit hardening stage of peach. The obtained results indicated that foliar application of calcium significantly improved peach fruit quality and yield. The highest fruit weight (142.6 g), yield tree⁻¹ (15.6 kg), ascorbic acid content (6.67 mg∙100 g⁻¹), total soluble solids (11.0°Bx), fruit juice pH (3.98), sugar to acid ratio (45.1), fruit firmness (3.90 kg∙cm⁻²) and fruit volume (155.6 cm³) was obtained with the application of 3% solution of calcium chloride at pit hardening stage but it significantly reduced the percent titratable acidity (0.3%) and disease incidence (5.8%). It was concluded that 3% calcium chloride applied at the pit hardening stage significantly boosted peach quality and fruit yield.
Źródło:
Acta Scientiarum Polonorum. Hortorum Cultus; 2020, 19, 1; 131-139
1644-0692
Pojawia się w:
Acta Scientiarum Polonorum. Hortorum Cultus
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Mechanical Properties of Nanocrystalline Tetragonal Zirconia Stabilized with CaO, MgO and $Y_2O_3$
Autorzy:
Sahin, O.
Demirkol, İ.
Göcmez, H.
Tuncer, M.
Ali Cetinkara, H.
Salih Güder, H.
Sahin, E.
Rıza Tuncdemir, A.
Powiązania:
https://bibliotekanauki.pl/articles/1399801.pdf
Data publikacji:
2013-02
Wydawca:
Polska Akademia Nauk. Instytut Fizyki PAN
Tematy:
62.20.-x
62.20.F-
Opis:
The citrate gel method, similar to the polymerized complex method, was used to synthesize homogeneous tetragonal zirconia at 1000°C. Nanocrystalline tetragonal phase has been fully stabilized at wide temperature range with 10 mol.% CaO, MgO, and $Y_2O_3$ addition. Scanning electron microscopy, X-ray diffraction, and microhardness tests are used to characterize synthesized materials. The grain size and dislocation density were calculated from X-ray diffraction data. The examined material exhibits indentation size effect behavior. Results revealed that the Vickers and Knoop microhardness are dependent on indentation test load. Geometrically necessary dislocation model and modified proportional resistance model are used to analyze the load dependence of the microhardness. The highest hardness values were obtained for the samples with CaO addition; however the lowest values were acquired for sample stabilized with $Y_2O_3$ by using both Knoop and Vickers techniques. This situation might be explained using the Hall-Petch relation.
Źródło:
Acta Physica Polonica A; 2013, 123, 2; 296-298
0587-4246
1898-794X
Pojawia się w:
Acta Physica Polonica A
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Numerical simulation of unsteady water-based nanofluid flow and heat transfer between two orthogonally moving porous coaxial disks
Autorzy:
Ali, K.
Farooq Iqbal, M.
Akbar, Z
Ashraf, M.
Powiązania:
https://bibliotekanauki.pl/articles/949359.pdf
Data publikacji:
2014
Wydawca:
Polskie Towarzystwo Mechaniki Teoretycznej i Stosowanej
Tematy:
porous disks
Al2O3 nanoparticles
viscous dissipation
wall expansion ratio
Joule Heating
Opis:
We present the numerical study of unsteady hydromagnetic (MHD) flow and heat trans- fer characteristics of a viscous incompressible electrically conducting water-based nanofluid (containing Al₂O₃ nanoparticles) between two orthogonally moving porous coaxial disks with suction. Different from the classical shooting methodology, we employ a combination of a direct and an iterative method (SOR with optimal relaxation parameter) for solving the sparse systems of linear algebraic equations arising from the FD discretization of the linearized self similar nonlinear ODEs. Effects of the governing parameters on the flow and heat transfer are discussed and presented through tables and graphs. The findings of the present investigation may be beneficial for electronic industry in maintaining the electronic components under effective and safe operational conditions.
Źródło:
Journal of Theoretical and Applied Mechanics; 2014, 52, 4; 1033-1046
1429-2955
Pojawia się w:
Journal of Theoretical and Applied Mechanics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Hardness Behavior of Alumina-Zirconia Nanocomposites Synthesized by Gel Process
Autorzy:
Sahin, O.
Hasde, A.
Göcmez, H.
Tuncer, M.
Ali Cetinkara, H.
Salih Güder, H.
Sahin, E.
Rıza Tuncdemir, A.
Powiązania:
https://bibliotekanauki.pl/articles/1399803.pdf
Data publikacji:
2013-02
Wydawca:
Polska Akademia Nauk. Instytut Fizyki PAN
Tematy:
62.20.-x
62.20.F-
Opis:
The alumina-zirconia composites are one of the relatively good and promising candidates for biomaterials application, due to biocompatibility and their mechanical properties that combines high flexural strength with a high toughness. The aim of the present work is to analyze the mechanical properties of these composites, where zirconia content was varied from 5 to 50 wt%. The citrate gel method, similar to the polymerized complex method, was used to synthesize these ceramics. Scanning electron microscopy, X-ray diffraction and microhardness tests are used to characterize synthesized materials. The examined material exhibits the behaviour of indentation size effect. Modified proportional resistance model are used to analyze the load dependence of the microhardness. X-ray diffraction analysis was used to calculation of the grain size and dislocation density. It is found that hardness is decreased when the zirconia content increases with enlargement of grain size.
Źródło:
Acta Physica Polonica A; 2013, 123, 2; 299-301
0587-4246
1898-794X
Pojawia się w:
Acta Physica Polonica A
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Optimisation of variation coolant system techniques in machining aluminium alloy Al319
Autorzy:
Zainal Ariffin, S.
Efendee, A. M.
Redhwan, A. A. M.
Alias, M.
Arifuddin, A.
Kamrol Amri, M.
Mohd Ali, M.
Khalil, K.
Aminullah, A. R. M.
Hasnain, A. R.
Baba, N. B.
Powiązania:
https://bibliotekanauki.pl/articles/2201047.pdf
Data publikacji:
2022
Wydawca:
Stowarzyszenie Komputerowej Nauki o Materiałach i Inżynierii Powierzchni w Gliwicach
Tematy:
aluminium alloy 319
coated cemented carbide Al2O3
surface roughness
response surface method
stop aluminium
węglik spiekany powlekany
chropowatość powierzchni
metoda powierzchni odpowiedzi
Opis:
Purpose Cutting parameters are often chosen for machining by machine operators in the industry. The experience and efficiency of the machine operator in producing a quality product are frequently used to decide parameter selection—low productivity results from improper parameter selection, inefficient machining, and technological issues. Today's key issues in the machining industry are focusing on increasing machining performance on surface roughness while minimising coolant usage. The study's objective is to enhance the performance of the nozzle lubrication system during the turning operation of an aluminium alloy 319 workpieces (Al319) to generate good surface roughness by applying turning parameters such as cutting speed, feed rate, and the depth of cut. Design/methodology/approach Response Surface Method (RSM) was used to create the experimental method for this investigation, carried out using a CNC lathe machine with two axial movements and a wet cooling nozzle with a size of 1.0 mm. Synthetic soluble lubricants, Al2O3-coated cemented carbide inserts, and Aluminium alloy 319 were utilised as cutting tools and workpiece materials. Findings To study the influence of cutting parameters on surface roughness, the Analysis of Variance (ANOVA) approach was utilised while the response surface method was performed to achieve an optimum machining performance (RSM). When comparing dry and wet cooling systems, the size of 1.0 mm nozzle shows appropriate surface roughness. According to the ANOVA analysis, the key factor impacting the surface roughness as machining performance in lubrication technique experiments was the utilisation of 1.0 mm nozzle size. Research limitations/implications The findings of combination machining parameters at a cutting speed of 270 m/min and a cutting depth of 0.60 mm at a feed rate of 0.08 mm/min offered the best results, achieving a surface roughness, Ra of 0.94 µm. Practical implications The use of coolant size nozzle 1.0 mm technology combined with the use of correct machining parameters can improve machining cuts. Originality/value The novel size of 1.0 mm nozzle in this current research is also valuable for reducing and increasing productivity in the machining business, as well as reducing dependency on machining operators' experience and abilities.
Źródło:
Journal of Achievements in Materials and Manufacturing Engineering; 2022, 113, 2; 72--77
1734-8412
Pojawia się w:
Journal of Achievements in Materials and Manufacturing Engineering
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Do Foreign Exchange Market Responses to Interest Rate Announcements Evolve over Time? Evidence from Poland
Czy reakcje rynku walutowego na decyzje o stopach procentowych są zmienne w czasie? Wyniki badań z polskiego rynku walutowego
Autorzy:
Brzeszczyński, Janusz
Gajdka, Jerzy
Ali M., Kutan
Powiązania:
https://bibliotekanauki.pl/articles/595948.pdf
Data publikacji:
2018
Wydawca:
Łódzkie Towarzystwo Naukowe
Tematy:
Macroeconomic Announcements, Interest Rate, National Bank of Poland (NBP), Foreign Exchange Rates, Foreign Exchange Market Reactions
Opis:
Rezultaty badań z rynków międzynarodowych wskazują, że reakcje cen instrumentów finansowych w odpowiedzi na decyzje dotyczące polityki pieniężnej są z reguły słabsze w warunkach niskich stóp procentowych. Celem prezentowanej analizy jest weryfikacja, czy podobny efekt występował także w Polsce w czasie, kiedy poziom stóp procentowych zmieniał się z wysokiego do niskiego. Przedmiotem badania w artykule jest rynek walutowy. Głównym narzędziem metodologicznym są modele klasy GARCH ze zmiennymi zero‑jedynkowymi. W przypadku decyzji o zmianie stopy procentowej wyróżnione zostały nominalne zmiany stóp oraz ich odchylenia od oczekiwań. Informacja na temat nieoczekiwanej zmiany stóp procentowych uzyskana została poprzez wyznaczenie różnic pomiędzy rzeczywistą zmianą stopy procentowej, ogłoszoną przez Radę Polityki Pieniężnej NBP oraz jej wartością przewidywaną przez rynek w postaci prognoz pochodzących z ankiet agencji Reutera, przeprowadzanych wśród uczestników rynku finansowego w Polsce. Rezultaty zaprezentowanego badania dowodzą, że w warunkach niższych stóp procentowych kursy walutowe w Polsce reagowały słabiej na decyzje dotyczące ich zmian. Ponadto reakcje kursów walut były silniejsze w przypadku wzrostu stóp niż w przypadku ich obniżenia. Wyniki przedstawionych badań na temat ewoluującej w czasie natury reakcji rynku walutowego w Polsce w okresach wysokich oraz niskich stóp procentowych mogą być pomocne w procesach zarządzania polityką pieniężną poprzez lepsze zrozumienie wpływu tego rodzaju decyzji na rynek walutowy.
Evidence from the international markets shows that the responsiveness of financial instruments’ prices to monetary policy announcements tends to weaken in a low level interest rate environment. The objective of our study is to verify if a similar effect existed in Poland when interest rate decreased from high to low levels over time. The focus of our paper is the currency market. We use GARCH class models with dummy variables as our main methodological tool. In the case of interest rate announcements, we distinguish between the nominal changes in interest rate and surprise changes. The surprise component is extracted by comparing the actual NBP announcements regarding the change of the interest rate with market expectations captured by the consensus forecasts from Reuters surveys of financial market participants in Poland. The results from our study demonstrate that in a lower interest rate environment, the foreign exchange market in Poland has become less responsive to interest rate decisions. We also find evidence that the reactions of foreign exchange rate returns tend to be stronger in case of interest rate changing upwards rather than downwards. Our results about the evolving nature of reactions of the foreign exchange market in Poland in both high and low interest rate environments may provide helpful information for policymakers about the impact of their policy decisions.
Źródło:
Studia Prawno-Ekonomiczne; 2018, 106; 197-219
0081-6841
Pojawia się w:
Studia Prawno-Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
    Wyświetlanie 1-14 z 14

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