scholarly journals The Impact of Residents’ Online Consumption on Offline Consumption—An Ordered Probit Semi-Parametric Estimation Method

2021 ◽  
Vol 13 (18) ◽  
pp. 10047
Author(s):  
Xianjin Tu ◽  
Victor Shi ◽  
Ming Zhang ◽  
Gangwu Lv
Keyword(s):  
Estimation Method ◽  
Parametric Estimation ◽  
Ordered Probit ◽  
Complementarity Effect ◽  
Integrated Development ◽  
Profound Impact ◽  
Economic Phenomenon ◽  
Consumption Experience ◽  
Empirical Tests ◽  
The Impact

Online consumption not only is an economic phenomenon, but also has a profound impact on offline consumption. Under this context, this article analyzes the mechanism of how they influence offline consumption and puts forward research hypotheses. China Household Financial Survey (CHFS) data and a semi-parametric ordered probit estimation method are used empirical tests. The results indicate that consumers with online consumption experience are very likely to consume again. The scale of online consumption not only drives the increase of overall consumption, but also promotes the growth of offline consumption via capital effect, complementarity effect, and psychologic effect. In general, online consumption and offline consumption have achieved integrated development.

Institutional Quality and Trade Flow: Empirical Evidence from Malaysia and Other OIC Member Countries in Africa

2021 ◽  
pp. 097508782098717
Author(s):  
Hammed Agboola Yusuf ◽  
Luqman Olanrewaju Afolabi ◽  
Waliu Olawale Shittu ◽  
Kafilah Lola Gold ◽  
Murtala Muhammad
Keyword(s):  
Economic Growth ◽  
Bilateral Trade ◽  
Trade Flow ◽  
Estimation Method ◽  
Institutional Quality ◽  
Likelihood Estimation ◽  
Political Stability ◽  
Bilateral Trade Flow ◽  
World Governance Indicators ◽  
The Impact

This article examines the impact of institutional quality on bilateral trade flow between Malaysia and selected 25 African Organisation of Islamic Cooperation (OIC) member countries. Four institutional qualities were selected from World Governance Indicators with other trade predictors from the period from 1985 to 2016. Using gravity model of trade and Poisson pseudo-maximum likelihood estimation method (PPML) technique, the results confirm that government effectiveness, regulatory quality and political stability have an adverse effect on bilateral trade flow among the OIC countries in Africa. On the other hand, these institutional quality variables were considered as a strength for Malaysian economic growth. Therefore, better institutional quality reforms are needed among OIC member countries in Africa in order to accelerate trade, economic growth and development in their region.

scholarly journals Reliability Assessment of a Multi-State HVDC System by Combining Markov and Matrix-Based Methods

Energies ◽  
2021 ◽  
Vol 14 (11) ◽  
pp. 3097
Author(s):  
Roberto Benato ◽  
Antonio Chiarelli ◽  
Sebastian Dambone Sessa
Keyword(s):  
Current System ◽  
Estimation Method ◽  
Reliability Estimation ◽  
Voltage Source ◽  
Voltage Source Converter ◽  
Hvdc System ◽  
Critical Elements ◽  
The Matrix ◽  
The Impact

The purpose of this paper is to highlight that, in order to assess the availability of different HVDC cable transmission systems, a more detailed characterization of the cable management significantly affects the availability estimation since the cable represents one of the most critical elements of such systems. The analyzed case study consists of a multi-terminal direct current system based on both line commutated converter and voltage source converter technologies in different configurations, whose availability is computed for different transmitted power capacities. For these analyses, the matrix-based reliability estimation method is exploited together with the Monte Carlo approach and the Markov state space one. This paper shows how reliability analysis requires a deep knowledge of the real installation conditions. The impact of these conditions on the reliability evaluation and the involved benefits are also presented.

The impact of globalization on the performance of Banks in South Africa

2016 ◽  
Vol 26 (4) ◽  
pp. 517-542 ◽  
Author(s):  
Fadzlan Sufian ◽  
Fakarudin Kamarudin
Keyword(s):  
South Africa ◽  
Host Country ◽  
Banking Sector ◽  
Generalized Method Of Moments ◽  
Estimation Method ◽  
Bank Performance ◽  
Content Type ◽  
Multinational Banks ◽  
Dynamic Panel Regression ◽  
The Impact

Purpose This paper aims to provide empirical evidence for the impact globalization has had on the performance of the banking sector in South Africa. In addition, this study also investigates bank-specific characteristics and macroeconomic conditions that may influence the performance of the banking sector. Design/methodology/approach The authors use data collected for all commercial banks in South Africa between 1998 and 2012. The ratio of return on assets was used to measure bank performance. They then used the dynamic panel regression with the generalized method of moments as an estimation method to investigate the potential determinants and the impact of globalization on bank performance. Findings Positive impact of greater economic integration and trade movements of the host country, while greater social globalization in the host country tends to exert negative influence on bank profitability. The results show that banks originating from the relatively more economically globalized countries tend to perform better, while banks headquartered in countries with greater social and political globalizations tend to exhibit lower profitability levels. Originality/value An empirical model was developed that allows for the performance of multinational banks to depend on internal and external factors. Moreover, unlike the previous studies on bank performance, in this empirical analysis, we control for the different dimensions of globalizations while taking into account the origins of the multinational banks. The procedure allows us to test for the home field, the liability of foreignness and global advantage hypotheses to deduce further insights into the prospects of banking across borders.

scholarly journals A Modified Extended Kalman Filter for a Two-Antenna GPS/INS Vehicular Navigation System

Sensors ◽  
2018 ◽  
Vol 18 (11) ◽  
pp. 3809 ◽  
Author(s):  
Yushi Hao ◽  
Aigong Xu ◽  
Xin Sui ◽  
Yulei Wang
Keyword(s):  
Kalman Filter ◽  
Extended Kalman Filter ◽  
Navigation System ◽  
Adaptive Estimation ◽  
Estimation Method ◽  
Measurement Noise ◽  
Model Errors ◽  
State Process ◽  
Stability And Accuracy ◽  
The Impact

Recently, the integration of an inertial navigation system (INS) and the Global Positioning System (GPS) with a two-antenna GPS receiver has been suggested to improve the stability and accuracy in harsh environments. As is well known, the statistics of state process noise and measurement noise are critical factors to avoid numerical problems and obtain stable and accurate estimates. In this paper, a modified extended Kalman filter (EKF) is proposed by properly adapting the statistics of state process and observation noises through the innovation-based adaptive estimation (IAE) method. The impact of innovation perturbation produced by measurement outliers is found to account for positive feedback and numerical issues. Measurement noise covariance is updated based on a remodification algorithm according to measurement reliability specifications. An experimental field test was performed to demonstrate the robustness of the proposed state estimation method against dynamic model errors and measurement outliers.

Reliability assessment of offshore dynamic scour protections using copulas

2018 ◽  
Vol 43 (5) ◽  
pp. 506-538 ◽  
Author(s):  
T Fazeres-Ferradosa ◽  
F Taveira-Pinto ◽  
X Romão ◽  
MT Reis ◽  
L das Neves
Keyword(s):  
Wind Farm ◽  
Estimation Method ◽  
Information Criterion ◽  
Probability Of Failure ◽  
Parametric Estimation ◽  
Offshore Wind ◽  
Offshore Wind Turbine ◽  
Spectral Parameters ◽  
Peak Period ◽  
Kendall’S Τ

This article presents a methodology to assess the reliability of dynamic scour protections used to protect offshore wind turbine foundations. The computed probabilities of failure are based on a dataset of 124 months of hindcast data from the Horns Rev 3 offshore wind farm. Copula-based models are used to obtain the joint distribution function of the significant wave height and spectral peak period and to obtain the probability of failure of scour protections. The sensitivity of the probability of failure to each model is addressed. The influence of the duration of the waves’ time series is also studied. A sensitivity analysis of the probability of failure to physical constraints, such as the water depth, current’s velocity or the mean diameter of the armour units, is performed. The results show that probability of failure is dependent on the copula used to model the spectral parameters and the associated value of Kendall’s τ. It is shown that the copula presenting the best values of Akaike Information Criterion (AIC) and Bayesian Information Criterion (BIC) did not lead to the probabilities of failure that are closer to the non-parametric estimation, obtained by means of the bivariate version of the Kernel density estimation method. The application to the case study led to annual probabilities of failure, which are comparable with the values applied for other offshore components, according to the current offshore wind industry standards.

Nonrevealing Equilibria and Consumption-Based Asset Pricing Models

2006 ◽  
Vol 6 (1) ◽  
Author(s):  
James E Gunderson
Keyword(s):  
Asset Pricing ◽  
Private Information ◽  
Rational Expectations ◽  
Investment Risk ◽  
Conditional Distributions ◽  
Pricing Models ◽  
Asset Pricing Models ◽  
Empirical Tests ◽  
The Impact ◽  
Investment Choices

In the rational expectations equilibrium of this paper, agents have private information and differing information partitions and therefore assign differing conditional distributions to asset payoffs and other economic variables relevant to their investment choices. Standard asset pricing models typically do not recognize the impact of these differing information partitions, and empirical tests based on these models thus measure asset riskiness in a way that may not be relevant to any of the agents' decisions. I show how this can lead to distorted estimates of investment risk and how it can make the equity premium appear difficult to explain.

scholarly journals Learning-Type Anchors-Driven Pose Estimation for the Autolanding Fixed-Wing UAVs

2021 ◽  
Author(s):  
Dengqing Tang ◽  
Lincheng Shen ◽  
Xiaojiao Xiang ◽  
Han Zhou ◽  
Tianjiang Hu
Keyword(s):  
Real Time ◽  
Pose Estimation ◽  
Stereo Vision ◽  
Vision System ◽  
Estimation Method ◽  
Satellite System ◽  
Training Dataset ◽  
Estimation Accuracy ◽  
The Impact ◽  
Outdoor Experiments

<p>We propose a learning-type anchors-driven real-time pose estimation method for the autolanding fixed-wing unmanned aerial vehicle (UAV). The proposed method enables online tracking of both position and attitude by the ground stereo vision system in the Global Navigation Satellite System denied environments. A pipeline of convolutional neural network (CNN)-based UAV anchors detection and anchors-driven UAV pose estimation are employed. To realize robust and accurate anchors detection, we design and implement a Block-CNN architecture to reduce the impact of the outliers. With the basis of the anchors, monocular and stereo vision-based filters are established to update the UAV position and attitude. To expand the training dataset without extra outdoor experiments, we develop a parallel system containing the outdoor and simulated systems with the same configuration. Simulated and outdoor experiments are performed to demonstrate the remarkable pose estimation accuracy improvement compared with the conventional Perspective-N-Points solution. In addition, the experiments also validate the feasibility of the proposed architecture and algorithm in terms of the accuracy and real-time capability requirements for fixed-wing autolanding UAVs.</p>

scholarly journals Causal Inference, International Law, And Maritime Disputes

AJIL Unbound ◽  
2021 ◽  
Vol 115 ◽  
pp. 389-393
Author(s):  
Benjamin J. Appel
Keyword(s):  
Causal Inference ◽  
International Law ◽  
Law Of The Sea ◽  
International Courts ◽  
Legal Scholarship ◽  
Wide Range ◽  
Maritime Disputes ◽  
Empirical Tests ◽  
The Impact ◽  
The Relationship

Sara Mitchell and Andrew Owsiak's examination of the impact of UN Convention on the Law of the Sea (UNCLOS) and Article 287 declarations on the peaceful resolution of maritime disputes significantly advances the literature on the relationship between international law/international courts and maritime issues. To their credit, the authors employ a wide range of empirical tests in the article to provide readers with confidence in the empirical results. Nonetheless, there are some important limitations in their approach. Drawing on insights from the causal inference literature, I argue that Mitchell and Owsiak's empirical analyses suffer from two biases that both (1) raise concerns about the causal relationships identified in the article, and (2) suggest some important scope conditions in its empirical findings. I investigate the biases and propose suggestions for legal scholarship to produce more credible results.

scholarly journals The Influence of the Development of Digital Economy on the Upgrading of China’s Industrial Structure

2021 ◽  
Vol 235 ◽  
pp. 03062
Author(s):  
Yaling Li
Keyword(s):  
National Economy ◽  
Economic Model ◽  
Industrial Structure ◽  
Rapid Development ◽  
Digital Economy ◽  
The Internet ◽  
Profound Impact ◽  
Internet Development ◽  
The Impact

Nowadays, with the rapid development of the Internet, all walks of life are closely connected with the development of the Internet. Differences in the degree of integration between different industries and the Internet make the leading industries of the national economy constantly change, thus promoting the transformation and upgrading of the industrial structure. The impact of Internet development on the upgrading of industrial structure is not only that the interconnected technologies and platforms change the traditional economic model, but also that the integration of Internet and industry has a profound impact on the industrial structure.

scholarly journals The Impact of Macroeconomic Variables on Sectoral Indices in Indonesia

ETIKONOMI ◽  
2017 ◽  
Vol 16 (1) ◽  
pp. 71-80 ◽  
Author(s):  
Bambang Sutrisno
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Inflation Rate ◽  
Emerging Market ◽  
Estimation Method ◽  
Least Square ◽  
Series Data ◽  
Macroeconomic Variables ◽  
The Interest Rate ◽  
The Impact

This study aims to examine the effect of macroeconomic variables on sectoral indices in the Indonesian Stock Exchange. The difference in sensitiveness among sectors is an interesting issue to investigate this relationship in an emerging market, such as Indonesia. This study employs ordinary least square (OLS) as an estimation method with monthly time-series data from January 2005 to December 2014. The results document that the interest rate, inflation rate, and exchange rate simultaneously have a significant effect on sectoral indices in Indonesia. The interest rate partially shows a significant negative influence on all sectors except basic industry and chemical, finance, infrastructure, utilities, and transportation, and miscellaneous industry sectors. The inflation rate partially has no significant effect on all sectors. The exchange rate partially has a significant negative impact on all industries.DOI: 10.15408/etk.v16i1.4323

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