Weight w | Multiplicity Aw |
0 | 1 |
22m−2−2m+v−2 | 2m−v−1(2m−v+1) |
22m−2 | 22m−1−22m−2v |
22m−2+2m+v−2 | 2m−v−1(2m−v−1) |
The COVID-19 crisis has not only manifested as a tragic public health crisis but also as an unprecedented economic disruption characterized by economic deterioration, the sharp increase in market volatility and the blinding uncertainty about the impact of the pandemic, especially in the context of developing countries. It is therefore not surprising that central banks seeking to maintain macroeconomic and financial stability, which are critical for sustained economic development, have maintained the practice of central bank intervention, especially in developing countries. This paper empirically examines the effect of central bank foreign exchange interventions on the level and volatility of the Uganda shilling / US dollar exchange rate (UGX/USD). Utilizing daily data spanning the period December 30, 2016, to 1 December 2021, we estimate a foreign exchange intervention model within a GARCH theoretical framework. Empirical results indicate that foreign exchange interventions have had mixed impact on the volatility of the exchange rate. In addition, despite generating significant uncertainty, the COVID 19 pandemic adverse shock results in a 0.03 percent appreciation due to Uganda's policy response to the COVID-19 pandemic.
Citation: Lorna Katusiime. 2023: COVID-19 and the effect of central bank intervention on exchange rate volatility in developing countries: The case of Uganda, National Accounting Review, 5(1): 23-37. doi: 10.3934/NAR.2023002
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The COVID-19 crisis has not only manifested as a tragic public health crisis but also as an unprecedented economic disruption characterized by economic deterioration, the sharp increase in market volatility and the blinding uncertainty about the impact of the pandemic, especially in the context of developing countries. It is therefore not surprising that central banks seeking to maintain macroeconomic and financial stability, which are critical for sustained economic development, have maintained the practice of central bank intervention, especially in developing countries. This paper empirically examines the effect of central bank foreign exchange interventions on the level and volatility of the Uganda shilling / US dollar exchange rate (UGX/USD). Utilizing daily data spanning the period December 30, 2016, to 1 December 2021, we estimate a foreign exchange intervention model within a GARCH theoretical framework. Empirical results indicate that foreign exchange interventions have had mixed impact on the volatility of the exchange rate. In addition, despite generating significant uncertainty, the COVID 19 pandemic adverse shock results in a 0.03 percent appreciation due to Uganda's policy response to the COVID-19 pandemic.
Throughout this paper, we let q=2m for a positive integer m. An [n,κ,d] linear code C over the finite field F2 is a κ-dimensional subspace of Fn2 with minimum distance d. A linear code C is called projective if its dual code has minimum distance at least 3. For a codeword c∈C the Hamming weight wt(c) is the number of nonzero coordinates in c. Let Ai be the number of codewords with weight i in C of length n. The sequence (1,A1,…,An) is referred as the weight distribution of C. If the number of nonzero Ai in the sequence (A1,…,An) is equal to t, we call C a t-weight code.
The weight distribution contains important information of a code. In classic coding theory, it gives the minimum distance of the code which determines the error correction capability of the code. In addition, the weight distribution allows the computation of the error probability of error detection and error correction with respect to some algorithms [2,16,31]. Thus, it is desirable to determine the weight distributions of linear codes. Moreover, linear codes with a few nonzero weights have many applications in constant composition codes [10], authentication codes [11] and secret sharing schemes [38] and some other fields. So it has provoked tremendous interests in determining the weight distributions of linear codes in literature. Different kinds of linear codes over finite fields and rings have been investigated explicitly for the past two decades, see [5,9,13,15,17,18,19,24,27,29,30,34,35,39]. In particular, Ding et al. [13] studied the weight distributions of a class of binary linear codes. Heng et al. dealt with projective binary linear codes from special Boolean functions in their recent work [18]. Huang et al. [19] constructed primitive binary LCD BCH codes and determined their parameters.
Let q=pm for a prime p. Choose a subset D={d1,d2,…,dn} of F∗q, where F∗q is the multiplicative group of Fq. Denote by Tr the absolute trace function from Fq to Fp. A linear code of length n is defined by
CD={(Tr(bd1),Tr(bd2),…,Tr(bdn)):b∈Fq}. | (1.1) |
The set D is called the defining set. Ding [12] pointed out that the defining-set construction is a fundamental approach and is equivalent to the generator matrix construction of all linear codes. Therefore it has attracted extensive attention and many families of linear codes were proposed following this way [1,13,14,21,22,23,33,36,37], most of which have good parameters. Particularly, Wu et al. [33] investigated three-weight binary linear codes from generalized Moisio's exponential sums. We refer the reader to [25,28] and the references therein for an overall survey on recent results and problems on constructions of linear codes from cryptographic functions.
In the rest of the paper, we always take p=2 unless otherwise stated. In [13], a class of three-weight binary code CD of (1.1) is constructed using the defining set
D={x∈F∗q:Tr(x2h+1)=0}, |
where q=2m and 1⩽h<m/2.
Let α,β∈F∗q, and u a positive integer less than m. We consider a special case of the defining-set construction by defining a class of linear codes
CD={c(a,b):a,b∈Fq}, | (1.2) |
where c(a,b)=(Tr(ax+by))(x,y)∈D and
D={(x,y)∈F2q∖{(0,0)}:Tr(αx2u+1+βy2u+1)=0}. | (1.3) |
The set D is also called the defining set of CD. Clearly, this is an extension of the work in [13].
The purpose of this paper is to study the weight distributions of CD by employing Weil sums. These linear codes are projective with at most three nonzero weights and can be utilized to construct secret sharing schemes with good access structures.
Now we present the main results of this paper and their proofs are given in Section 3. Let v=gcd(m,u) stand for the greatest common divisor of m and u. Let g be a generator of the cyclic group F∗q. Namely, F∗q=⟨g⟩. The weight distributions of CD are given in the following four theorems.
Theorem 1.1. Let CD be defined by (1.2) and (1.3). If m/v is odd, then CD is a [22m−1−1,2m,22m−2−2m+v−2] three-weight binary code with the weight distribution in Table 1.
Weight w | Multiplicity Aw |
0 | 1 |
22m−2−2m+v−2 | 2m−v−1(2m−v+1) |
22m−2 | 22m−1−22m−2v |
22m−2+2m+v−2 | 2m−v−1(2m−v−1) |
Theorem 1.2. Suppose that m/v is even and α,β∉⟨g2v+1⟩. Then CD is a [22m−1+2m−1−1,2m,22m−2] two-weight binary code with the weight distribution in Table 2.
Weight w | Multiplicity Aw |
0 | 1 |
22m−2 | 22m−1+2m−1−1 |
22m−2+2m−1 | 22m−1−2m−1 |
Theorem 1.3. Let m/v be even and α,β∈⟨g2v+1⟩. If u≠m/2, then CD is a [22m−1+2m+2v−1−1,2m,22m−2] three-weight binary code with the weight distribution in Table 3. If u=m/2, then CD is a simplex code with parameters [22m−1,2m,22m−1] and the only nonzero weight 22m−1. Moreover, the simplex code meets the Griesmer bound.
Weight w | Multiplicity Aw |
0 | 1 |
22m−2 | 2m−2v−1(2m−2v+1)−1 |
22m−2+2m+2v−2 | 22m−4v(24v−1) |
22m−2+2m+2v−1 | 2m−2v−1(2m−2v−1) |
Theorem 1.4. Suppose that m/v is even and only one of α and β is in ⟨g2v+1⟩, then CD is a [22m−1−2m+v−1−1,2m,22m−2−2m+v−1] three-weight binary code with the weight distribution in Table 4.
Weight w | Multiplicity Aw |
0 | 1 |
22m−2−2m+v−1 | 2m−v−1(2m−v+1) |
22m−2−2m+v−2 | 22m−22m−2v |
22m−2 | 2m−v−1(2m−v−1)−1 |
Some examples are provided to illustrate our main results. All of the numerical results are verified by Magma programs.
Example 1. Let (m,u)=(3,1). By Theorem 1.1, the binary code CD has parameters [31, 6, 12]. Its weight enumerator is 1+10z12+47z16+6z20.
Example 2. Let (m,u)=(2,1) and F∗4=⟨g⟩. If we take α=g2 and β=g, from Theorem 1.2 the binary code CD has parameters [9,4,4]. Its weight enumerator is 1+9z4+6z6. It is optimal according to Markus Grassl's code tables available at http://www.codetables.de/.
Example 3. Let (m,u)=(4,2). Write F∗16=⟨g⟩ and α=β=g5. By Theorem 1.3, the code CD has parameters [255,8,128] and it is an optimal simplex code with the only nonzero weight 128.
Example 4. Let (m,u)=(4,1), F∗16=⟨g⟩, α=g3 and β=g. By Theorem 1.4, the code CD has parameters [111,8,48]. Its weight enumerator is 1+36z48+192z56+27z64.
In this section, we present some results on group characters and Weil sums. Let G be a finite abelian group (written multiplicatively). A character χ of G is a homomorphism from G into the multiplicative group U of complex numbers of absolute value 1. That is, χ is a mapping from G into U with χ(xy)=χ(x)χ(y) for all x,y∈G. Let q=2m. For each b∈Fq, the function
χb(x)=(−1)Tr(bx) for all x∈Fq |
defines an additive character of Fq, where Tr is the absolute trace function from Fq to F2. The additive character χ0 is called trivial, whereas other characters χb with b∈F∗q are called nontrivial. Especially χ1 is called the canonical additive character and is denoted by χ for simplicity. See [26] for more information about characters over finite fields.
In [7], Coulter determined the value of Weil sums Su(α,β) defined by
Su(α,β)=∑x∈Fqχ(αx2u+1+βx), |
for all α,β∈Fq, where q=2m and u is a positive integer. Recall that v=gcd(m,u) is the greatest common divisor of m and u.
Lemma 2.1 (Theorem 4.1, [7]). If m/v is odd, then
Su(α,0)={qif α=0,0otherwise. |
Lemma 2.2 (Theorem 4.2, [7]). Let β∈F∗q and suppose m/v is odd. Then Su(α,β)=Su(1,βγ−1), where γ∈F∗q is the unique element satisfying γ2u+1=α. Further, we have
Su(1,β)={0if Trv(β)≠1,±2m+v2if Trv(β)=1, |
where and hereafter Trv is the trace function from Fq to F2v.
Lemma 2.3 (Theorem 5.2, [7]). Let m/v be even so that m=2k for some integer k. Then
Su(α,0)={(−1)k/v2kif α≠gt(2v+1) for any integer t,−(−1)k/v2k+vif α=gt(2v+1) for some integer t, |
where g is a generator of F∗q.
When m/v is even, the evaluation of Su(α,β) for p=2, where β≠0, was due to Coulter [7], and it can be similarly proved as the case of an odd prime p, see the poofs of Theorems 1 and 2 in [6].
Lemma 2.4 (Theorem 5.3, [7]). Let β∈F∗q and suppose m/v is even such that m=2k for some integer k. Let fα(x)=α2ux22u+αx∈Fq[x]. There are two cases.
(i) If α≠gt(2v+1) for any integer t then fα is a permutation polynomial. Let x0∈Fq be the unique element satisfying fα(x0)=β2u. Then
Su(α,β)=(−1)k/v2kχ(αx2u+10). |
(ii) If α=gt(2v+1) for some integer t then Su(α,β)=0 unless the equation fα(x)=β2u is solvable. If the equation is solvable, with solution x0 say, then
Su(α,β)=−(−1)k/v2k+vχ(αx2u+10). |
In this section, we always fix α,β∈F∗q and let g be a generator of F∗q.
The code length is defined by
n=|D|=|{(x,y)∈F2q∖{(0,0)}:Tr(αx2u+1+βy2u+1)=0}|. | (3.1) |
Lemma 3.1. The code length n of (3.1) is given as follows.
(i) If m/v is odd, then n=22m−1−1.
(ii) If m/v is even, then
n={22m−1+2m−1−1if α,β∉⟨g2v+1⟩,22m−1+2m+2v−1−1if α,β∈⟨g2v+1⟩,22m−1−2m+v−1−1otherwise. |
Proof. It follows from the orthogonal property of additive characters that
n=12∑x,y∈Fq∑z1∈F2(−1)z1Tr(αx2u+1+βy2u+1)−1=22m−1+12∑x,y∈Fq(−1)Tr(αx2u+1+βy2u+1)−1=22m−1−1+12Su(α,0)Su(β,0). |
Thus we obtain the desired conclusions from Lemmas 2.1 and 2.3.
The Pless power moments are useful tools when we calculate the weight distribution of a given code. Recall that the code CD is defined by (1.2) and (1.3) with length n and dimension κ=dimF2(CD). The weight distributions of CD and its dual C⊥D are denoted by (1,A1,…,An) and (1,A⊥1,…,A⊥n), respectively. As we will prove later in Theorem 4.1, the minimum weight of the dual code C⊥D is at least 3. So A⊥1=0, A⊥2=0 and consequently the first three Pless power moments are given by [20Y, p.260]:
n∑j=0Aj=2κ,n∑j=0jAj=2κ−1n,n∑j=0j2Aj=2κ−2n(n+1). |
In this subsection, we will prove the weight distributions of CD given in Theorems 1.1, 1.2, 1.3 and 1.4. The code length n is given in Lemma 3.1. Assume that (a,b)≠(0,0) unless otherwise stated. We define
N0(a,b)=|{(x,y)∈F2q:Tr(αx2u+1+βy2u+1)=0,Tr(ax+by)=0}|. | (3.2) |
Then the Hamming weight of c(a,b) is expressed as
wt(c(a,b))=n−N0(a,b)+1. | (3.3) |
By (3.2) and the orthogonal property of additive characters,
N0(a,b)=2−2∑x,y∈Fq∑z1∈F2(−1)z1Tr(αx2u+1+βy2u+1)∑z2∈F2(−1)z2Tr(ax+by)=2−2∑x,y∈Fq(1+(−1)Tr(αx2u+1+βy2u+1))(1+(−1)Tr(ax+by))=22m−2+2−2(Su(α,0)Su(β,0)+Su(α,a)Su(β,b)). | (3.4) |
Now we are going to determine the values of N0(a,b) given by (3.4). There are four cases to consider according to the parity of m/v and the values of α and β.
In the first case, if m/v is odd, the length is n=22m−1−1. At first glance, when a=0 and b≠0, we have Su(α,0)=0 by Lemma 2.1. So N0(a,b)=22m−2. Similarly when a≠0 and b=0, N0(a,b)=22m−2. Assume that a∈F∗q, we have from Lemma 2.2 that
Su(α,a)=Su(1,aγ−1)={0 if Trv(aγ−1)≠1,±2m+v2 if Trv(aγ−1)=1, |
where γ∈F∗q is the unique element satisfying γ2u+1=α. Thus it follows from (3.4), Lemmas 2.1 and 2.2 that
N0(a,b)∈{22m−2,22m−2+2m+v−2,22m−2−2m+v−2}. |
Hence, by (3.3), the weight wt(c(a,b)) of the codeword c(a,b) satisfies
wt(c(a,b))∈{22m−2,22m−2+2m+v−2,22m−2−2m+v−2}. |
Put
w1=22m−2−2m+v−2,w2=22m−2,w3=22m−2+2m+v−2. |
We now determine the number Awi of codewords with weight wi in CD. The first three Pless power moments yield the following system of equations:
{Aw1+Aw2+Aw3=22m−1,w1Aw1+w2Aw2+w3Aw3=22m−1n,w21Aw1+w22Aw2+w23Aw3=22m−2n(n+1), | (3.5) |
where n=22m−1−1. Solving the system of equations in (3.5) leads to the weight distribution given in Table 1. This proves Theorem 1.1.
In the second case, if m/v is even and α,β∉⟨g2v+1⟩, the length is n=22m−1+2m−1−1. It follows from Lemmas 2.3 and 2.4 that
Su(α,0)=(−1)k/v2k,Su(α,a)=(−1)k/v2kχ(αx2u+10), |
where a≠0 and x0 satisfies fα(x0)=a2u. By (3.4),
N0(a,b)∈{22m−2,22m−2+2m−1}. |
From (3.3), the weight wt(c(a,b)) belongs to the set
{22m−2,22m−2+2m−1}. |
Let
w1=22m−2,w2=22m−2+2m−1. |
Again by solving the system of equations
{Aw1+Aw2=22m−1,w1Aw1+w2Aw2=22m−1n, | (3.6) |
where n=22m−1+2m−1−1, we get the weight distribution given in Table 2. This finishes the proof of Theorem 1.2.
In the third case, if m/v is even and α,β∈⟨g2v+1⟩, the length is n=22m−1+2m+2v−1−1. Again from Lemma 2.3, we have
Su(α,0)=−(−1)k/v2k+v. |
Let a≠0.
It follows from Lemma 2.4 that Su(α,a)=0 or if the equation fα(x)=a2u is solvable with a solution x0∈Fq, then
Su(α,a)=−(−1)k/v2k+vχ(αx2u+10). |
By (3.3) and (3.4), the weight wt(c(a,b)) belongs to the set
{22m−2,22m−2+2m+2v−2,22m−2+2m+2v−1}. |
Write
w1=22m−2,w2=22m−2+2m+2v−2,w3=22m−2+2m+2v−1. |
The first three Pless power moments are given by (3.5), where n=22m−1+2m+2v−1−1. Solving these equations yields the weight distribution given in Table 3. This completes the proof of Theorem 1.3.
The last case is that m/v is even and α∈⟨g2v+1⟩, β∉⟨g2v+1⟩ (or β∈⟨g2v+1⟩, α∉⟨g2v+1⟩). In this case, n=22m−1−2m+v−1−1. After a similar argument as we have done in the previous case, we obtain from (3.3) and (3.4) that wt(c(a,b)) belongs to the set
{22m−2,22m−2−2m+v−2,22m−2−2m+v−1}. |
Set
w1=22m−2−2m+v−1,w2=22m−2−2m+v−2,w3=22m−2. |
From the first three Pless power moments (3.5), we get the weight distribution given in Table 4, completing the proof of Theorem 1.4.
For the dual C⊥D of the code CD, we have the following conclusion.
Theorem 4.1. Let m⩾2 and α,β∈F∗q. The dual C⊥D of the code CD is a binary code with parameters [n,n−2m,d⊥], where n is given in Lemma 3.1 and d⊥=3 if m is even and 3⩽d⊥⩽4 if m is odd.
Proof. The dimension of the code C⊥D is obvious. Since D does not contain the zero element of F2q, the minimum distance of C⊥D cannot be one. Similarly, since D is not a multiset, any two elements di and dj of D must be distinct if i≠j. Hence, the minimum distance C⊥D cannot be 2. So we have d⊥⩾3.
When m is even, we assume that (x1,0),(0,y2)∈D. We claim that (x1,y2) is in D. Actually,
Tr(αx2u+11+βy2u+12)=Tr(αx2u+11)+Tr(βy2u+12)=0. |
Therefore, the minimum distance of C⊥D is 3.
When m is odd, n=22m−1−1 by Theorem 1.1. Let D={di=(d1i,d2i):i=1,2,…,n}. Consider the sums di+dj for i≠j. The total number of such sums is equal to (22m−1−1)(22m−2−1)>22m for m⩾2. Hence, there must be four distinct integers i,j,k,l∈{1,2,…,n} such that di+dj=dk+dl. This means that C⊥D has a codeword with Hamming weight 4. So we have 3⩽d⊥⩽4, completing the whole proof.
When m is odd, the code C⊥D is at least almost optimal. This is because the minimum weight of any binary code with length 22m−1−1 and dimension 22m−1−1−2m is at most 4 according to the sphere packing bound.
Example 5. Let (m,u)=(2,1), α=g2 and β=g, where F∗4=⟨g⟩. Magma programs show that the binary code C⊥D has parameters [9,5,3] and it is optimal. If we take α=β=g3, then C⊥D has parameters $ [15,11,3] and it is optimal, too.
Example 6. Let (m,u)=(3,1). Then the binary code C⊥D has parameters [31,25,3] and it is almost optimal, while the optimal binary code has parameters [31,25,4].
In this paper, a class of projective binary codes with two or three weights were constructed from a proper defining set. Their weight distributions were determined by applying Weil sums and the first three Pless power moments. Furthermore, we determined the parameters of their dual codes. Some optimal and almost optimal codes were also constructed. Due to [38], a linear code over F2 is suitable to construct secret sharing schemes with interesting access structures if
wminwmax>12, | (5.1) |
where wmin and wmax denote the minimum and maximum nonzero weights of the code, respectively. For the linear codes CD in Theorems 1.1-1.4, the inequality (5.1) always holds if m⩾2v+2. So they can be used in secret sharing schemes with good access structures. Additionally, projective two-weight codes in Theorem 1.2 can be applied in strongly regular graphs [4,8] and projective three-weight codes in Theorems 1.1, 1.3 and 1.4 are related to association schemes with three classes [3].
The authors would like to thank the referee for his/her thorough review with constructive suggestions and valuable comments. The work is partly supported by the National Natural Science Foundation of China under Grant 12071247, Grant 11701317, Grant U1811461 and Grant 11971496.
The authors declare that there is no conflict of interests regarding the publication of this paper.
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Weight w | Multiplicity Aw |
0 | 1 |
22m−2−2m+v−2 | 2m−v−1(2m−v+1) |
22m−2 | 22m−1−22m−2v |
22m−2+2m+v−2 | 2m−v−1(2m−v−1) |
Weight w | Multiplicity Aw |
0 | 1 |
22m−2 | 22m−1+2m−1−1 |
22m−2+2m−1 | 22m−1−2m−1 |
Weight w | Multiplicity Aw |
0 | 1 |
22m−2 | 2m−2v−1(2m−2v+1)−1 |
22m−2+2m+2v−2 | 22m−4v(24v−1) |
22m−2+2m+2v−1 | 2m−2v−1(2m−2v−1) |
Weight w | Multiplicity Aw |
0 | 1 |
22m−2−2m+v−1 | 2m−v−1(2m−v+1) |
22m−2−2m+v−2 | 22m−22m−2v |
22m−2 | 2m−v−1(2m−v−1)−1 |
Weight w | Multiplicity Aw |
0 | 1 |
22m−2−2m+v−2 | 2m−v−1(2m−v+1) |
22m−2 | 22m−1−22m−2v |
22m−2+2m+v−2 | 2m−v−1(2m−v−1) |
Weight w | Multiplicity Aw |
0 | 1 |
22m−2 | 22m−1+2m−1−1 |
22m−2+2m−1 | 22m−1−2m−1 |
Weight w | Multiplicity Aw |
0 | 1 |
22m−2 | 2m−2v−1(2m−2v+1)−1 |
22m−2+2m+2v−2 | 22m−4v(24v−1) |
22m−2+2m+2v−1 | 2m−2v−1(2m−2v−1) |
Weight w | Multiplicity Aw |
0 | 1 |
22m−2−2m+v−1 | 2m−v−1(2m−v+1) |
22m−2−2m+v−2 | 22m−22m−2v |
22m−2 | 2m−v−1(2m−v−1)−1 |