Using principal component analyses, this paper constructs two internationalization indices for the renminbi （RMB） and 32 other major currencies. We find that the RMB＇s currency internationalization degree index （C...Using principal component analyses, this paper constructs two internationalization indices for the renminbi （RMB） and 32 other major currencies. We find that the RMB＇s currency internationalization degree index （CIDI） is still low, and far behind the 4 most important international currencies. In 2009, it was ranked 18th among all important international currencies. However, in terms of the currency internationalization prospect index （C1PI）, the RMB has remained the world ＂s fifih highest since 2006. Although it is still far behind the US dollar and the euro, surpassing the ranking of the yen and the pound is possible in the near future. The dramatic difference in the ranking between the CIDI and the CIPI is a result of China＇s tight capital account control, the usage continui01 of international currency due to network externalities, and the narrow foreign exchange and imperfect financial markets. Hence, to a large degree, the RMB ＇s potential as an international currency depends on China＇s capital account liberalization.展开更多
In this paper, we bdefly address the application of the standard principal component analysis （PCA） technique to fault detection and identification. Based on an analysis of the existing test statistic, we propose a ...In this paper, we bdefly address the application of the standard principal component analysis （PCA） technique to fault detection and identification. Based on an analysis of the existing test statistic, we propose a new test statistic, which is similar to the Hawkin＇s T2 H statistic but without the numerical drawback. In comparison with the SPE index, the threshold setting associated with the new statistic is computationally simpler. Our further study is dedicated to the analysis of fault sensitivity. We consider the off-set and scaling faults, and evaluate the test statistic by viewing its sensitivity to the faults. Our final study focuses on identifying off-set and scaling faults. To this end, two algorithms are proposed. This paper also includes some critical remarks on the application of the PCA technique to fault diagnosis.展开更多
文摘Using principal component analyses, this paper constructs two internationalization indices for the renminbi （RMB） and 32 other major currencies. We find that the RMB＇s currency internationalization degree index （CIDI） is still low, and far behind the 4 most important international currencies. In 2009, it was ranked 18th among all important international currencies. However, in terms of the currency internationalization prospect index （C1PI）, the RMB has remained the world ＂s fifih highest since 2006. Although it is still far behind the US dollar and the euro, surpassing the ranking of the yen and the pound is possible in the near future. The dramatic difference in the ranking between the CIDI and the CIPI is a result of China＇s tight capital account control, the usage continui01 of international currency due to network externalities, and the narrow foreign exchange and imperfect financial markets. Hence, to a large degree, the RMB ＇s potential as an international currency depends on China＇s capital account liberalization.
文摘In this paper, we bdefly address the application of the standard principal component analysis （PCA） technique to fault detection and identification. Based on an analysis of the existing test statistic, we propose a new test statistic, which is similar to the Hawkin＇s T2 H statistic but without the numerical drawback. In comparison with the SPE index, the threshold setting associated with the new statistic is computationally simpler. Our further study is dedicated to the analysis of fault sensitivity. We consider the off-set and scaling faults, and evaluate the test statistic by viewing its sensitivity to the faults. Our final study focuses on identifying off-set and scaling faults. To this end, two algorithms are proposed. This paper also includes some critical remarks on the application of the PCA technique to fault diagnosis.
