An x-ray astronomy experiment consisting of three collimated proportional counters and an X-ray Sky Monitor (XSM) was flown aboard the Indian Satellite IRS-P3 launched on March 21, 1996 from SHAR range in India. The Satellite is in a circular orbit of 830 km altitude with an orbital inclination of 98° and has three axis stabilized pointing capability. Each pointed-mode Proportional Counter (PPC) is a multilayer, multianode unit filled with P-10 gas (90% Ar + 10% CH4) at 800 torr and having an aluminized mylar window of 25 micron thickness. The three PPCs are identical and have a field of view of 2°×2° defined by silver coated aluminium honeycomb collimators. The total effective area of the three PPCs is about 1200 cm2. The PPCs are sensitive in 2-20 keV band. The XSM consists of a pin-hole of 1 cm2 area placed 16 cm above the anode plane of a 32 cm×32 cm position sensitive proportional counter sensitive in 3-8 keV interval. The position of the x-ray events is determined by charge division technique using nichrome wires as anodes. The principal objective of this experiment is to carry out timing studies of x-ray pulsars, x-ray binaries and other rapidly varying x-ray sources. The XSM will be used to detect transient x-ray sources and monitor intensity of bright x-ray binaries. Observations of black-hole binary Cyg X-1 and few other binary sources were carried out in early May and July-August 1996 period. Details of the x-ray detector characteristics are presented and preliminary results from the observations are discussed.

This study aims to investigate the effects of restrictions in economic activity on the spread of COVID-19 in the Philippines. This research employs daily time-series data of confirmed new COVID-19 cases, Apple mobility trends (i.e., use of public transport to destinations, volume of people driving, and amount of walking to destinations) and Google community mobility (i.e., visits to transit stations, visits to workplaces, and staying-at-home) indicators covering the period February 17 to September 11, 2020. The analysis starts by establishing the correlation pattern of new confirmed COVID-19 daily infections to each independent variable. The results show negative linear correlation of the number of new COVID-19 daily infections with less visit to transit station, increase stay-at-home, less use of public transport, and less amount of walking to destinations. Interestingly, the number of new COVID-19 daily infections indicates some form of positive linear correlation with visits to workplaces and volume of people driving. Moreover, employing robust least square regression via the method of MM-estimation, major findings reveal that across mobility measures, staying-at-home has the highest impact on reducing the spread of COVID-19, followed by visiting transit stations less, less use of public transport, less amount of walking, and less workplace visits.

The efficient market hypothesis explains the random walk hypothesis suggesting that stock prices are independent of each other, hence, it is impossible to earn abnormal profits. The positive effect of a well-functioning and highly efficient stock market on the performance of an economy motivated the Philippine Stock Exchange to pursue massive modernization initiatives. This research provides evidence of the existence of random walk in the Philippine stock market employing the Augmented Dickey-Fuller (1981) and Phillips-Perron (1988) unit root tests, the Lo-MacKinlay’s (1988) conventional variance ratio test, and Chow-Denning’s (1993) simple multiple variance ratio test. Results of the ADF and PP unit root tests confirm the necessary condition for a random walk. The Chow-Denning (1993) maximum /z/ statistic and the Wald test statistic as in Richardson and Smith (1991) for the joint hypotheses and the Lo and MacKinlay (1988) individual statistics variance ratio test generally accepted the null hypothesis of a random walk. That is, the unit root and variance ratio tests consistently indicate that the null hypothesis of random walk cannot be rejected. The existence of a random walk in weak-form efficiency can be attributed to market liquidity as a result of continuous development and modernization of the Philippine equity market.

The paper examines the dynamic relationship of domestic credit and stock market liquidity on the economic growth of the Philippines from 1995 to 2018 applying the autoregressive distributed lag (ARDL) bounds testing approach to cointegration, together with Granger causality test based on vector error correction model (VECM). The ARDL model indicated a long-run relationship of domestic credit and stock market liquidity on GDP growth. When the GDP per capita is the dependent variable there is weak cointegration. Also, the Johansen cointegration test confirmed the existence of long-run relationship of domestic credit and stock market liquidity both on GDP growth and GDP per capita. The VECM concludes a long-run causality running from domestic credit and stock market liquidity to GDP growth. At levels, domestic credit has significant short-run causal relationship with GDP growth. As for stock market liquidity at first lag, has significant short-run causal relationship with GDP growth. With regards to VECM for GDP per capita, domestic credit and stock market liquidity indicates no significant dynamic adjustment to a new equilibrium if a disturbance occurs in the whole system. At levels, the results indicated the presence of short-run causality from stock market liquidity and GDP per capita. The CUSUMSQ plot complements the findings of the CUSUM plot that the estimated models for GDP growth and GDP per capita were stable.