Twenty years have passed since the breakdown of the Soviet Union, and it is time to draw a concluding line for monetary policy efficiency in the Commonwealth of Independent States (CIS). We propose a comprehensive treatment of the subject for nine members of the CIS for the period of 2000-2009. Four transmission channels are investigated: interest rate channel, exchange rate channel, bank lending channel, and monetary channel. First, we design a Vector Auto Regression framework for each CIS member-state and investigate the short-run dynamics of the impact of each of the four transmission channels on domestic output and inflation. Second, we construct Auto Regressive Distributed Lag Models (ARDL) in order to study the country-wise efficiency of transmission channels in the long run. Finally, we employ a panel data fixed effects method to show how the CIS behaves as a region. Our short-run individual country analysis yields highly heterogeneous results. In the long run, however, it's apparent that broad monetary base (M2) is the most influential determinant of aggregate output. Inflation is affected the most by the refinancing rate and the flow of remittances. For both output and inflation, exchange rate plays a role of a supporting channel.
The paper presents a concept of a device that will introduce an effort to minimize user interaction by transferring the one-time password codes from hardware devices to the main systems via alternative methods to avoid manual entry by implementing keyboard emulation and quick response code generation
Two-factor authentication can significantly reduce risks of compromised accounts by protecting from the majority of password-leak based attacks. RADIUS protocol is a popular method of providing the second factor authentication. This paper presents an innovative approach to enrolling users in RADIUS protocol based two-factor authentication. It describes a RESTful API, which complements the standard RADIUS protocol by adding the possibility of self-service second factor enrollment. It also demonstrates a proof of concept RADIUS appliance and the web based management interface as well as examples of API integration with a number of products.
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