Search

Supply chain instabilities and inflated material prices have had a disruptive impact on cost estimating of construction projects. While several research efforts used national macroeconomic indicators to forecast the prices of domestically produced construction materials, none of the existing studies investigated whether the lagged macroeconomic indicators of the main trading partners could enhance the predictability of the prices of cement, steel, and lumber in the US construction sector. This paper fills this knowledge gap. The authors adopted a multi-step methodology that included: (1) collecting data on the target variables and the candidate leading indicators; (2) identifying the structural breaks in the collected data sets; (3) conducting causality tests to identify short-term associations and cointegration tests to examine long-term relationships; (4) developing vector error correction (VEC) models to forecast the prices in the short and long terms; and (5) evaluating the performance of the proposed models against existing forecasting models in the literature. Results of the Granger test and Johansen test indicate that Canada's overall producer price index (PPI) is a consistent leading indicator of the prices of cement, and Mexico's overall PPI is a consistent leading indicator of the prices of steel. Findings indicate no statistical evidence to suggest that neither Canada's PPI nor Mexico's PPI can be leading indicators of lumber prices. Over an 18-month ahead of sample horizon, the presented VEC models of cement and steel prices outperformed existing models, particularly beyond the 1-year-ahead forecasts. Utilization of the proposed forecasting models can significantly enhance the accuracy of cost estimates and feasibility studies of construction projects. This provides proactive financial planning for construction contractors and project owners through improved short- and long-term forecasting of the prices of main construction materials. [ABSTRACT FROM AUTHOR]

Blood plasma is one of the constituents of blood. It is used in food products today due to its rich protein content. Its purpose is to increase the chewiness and improve the texture of food products, especially in producing processed products such as meatballs and surimi. There needs to be clarity regarding the determination of blood plasma ruling, whether it follows the ruling principles established in Islam or not. Thus, this paper intended to apply the principle of determining the ruling of blood plasma in food products according to Islam. This qualitative study used expert interviews and literature review methods by referring to books and journals related to blood plasma. This study established four application principles in determining blood plasma ruling: the principle of halal and haram food, the principle of istihalah, the principle of maslahah, and the principle of darurah. The use of blood plasma is haram because it contradicts the requirements of Islamic sharia and thus opposes the principles of determining the ruling of food based on blood plasma. This study is relevant for authorities such as JAKIM’s Halal Hub to improve the existing system. Further, it benefits the manufacturers and the general public in preparing and choosing food according to the ruling principles set by Islam. Analyses related to the use of blood plasma in food products involving laboratory studies and fiqh research can also be carried out in the future. [ABSTRACT FROM AUTHOR]