Limited information estimation and evaluation of DSGE models

We advance the proposition that dynamic stochastic general equilibrium (DSGE) models should not only be estimated and evaluated with full information methods. These require that the complete system of equations be specified properly. Some limited information analysis, which focuses upon specific equations, is therefore likely to be a useful complement to full system analysis. Two major problems occur when implementing limited information methods. These are the presence of forward-looking expectations in the system as well as unobservable non-stationary variables. We present methods for dealing with both of these difficulties, and illustrate the interaction between full and limited information methods using a well-known model.

Sustainability performance of construction : conceptual models of satisfaction levels in construction projects

In general, the performance of construction projects, including their sustainability performance, does not meet optimal expectations. One aspect of this is the performance of the participants who are independent and make a significance impact on overall project outcomes. Of these participants, the client is traditionally the owner of the project, the architect or engineer is engaged as the lead designer and a contractor is selected to construct the facilities. Generally, the performance of the participants is gauged by considering three main factors, namely, time, cost and quality. As the level of satisfaction is a subjective issue, it is rarely used in the performance evaluation of construction work. Recently, various approaches to the measurement of satisfaction have been made in an attempt to determine the performance of construction project outcomes - for instance, client satisfaction, customer satisfaction, contractor satisfaction, occupant satisfaction and home buyer satisfaction. These not only identify the performance of the construction project but are also used to improve and maintain relationships. In addition, these assessments are necessary for the continuous improvement and enhanced cooperation of participants. The measurement of satisfaction levels primarily involves expectations and perceptions. An expectation can be regarded as a comparative standard of different needs, motives and beliefs, while a perception is a subjective interpretation that is influenced by moods, experiences and values. This suggests that the disparity between perceptions and expectations may possibly be used to represent different levels of satisfaction. However, this concept is rather new and in need of further investigation. This chapter examines the methods commonly practised in measuring satisfaction levels today and the advantages of promoting these methods. The results provide a preliminary review of the advantages of satisfaction measurement in the construction industry and recommendations are made concerning the most appropriate methods to use in identifying the performance of project outcomes.

Beyond statistical procedures for predictive modelling: Data mining algorithms and support for university research at QUT

In a seminal data mining article, Leo Breiman [1] argued that to develop effective predictive classification and regression models, we need to move away from the sole dependency on statistical algorithms and embrace a wider toolkit of modeling algorithms that include data mining procedures. Nevertheless, many researchers still rely solely on statistical procedures when undertaking data modeling tasks; the sole reliance on these procedures has lead to the development of irrelevant theory and questionable research conclusions ([1], p.199). We will outline initiatives that the HPC & Research Support group is undertaking to engage researchers with data mining tools and techniques; including a new range of seminars, workshops, and one-on-one consultations covering data mining algorithms, the relationship between data mining and the research cycle, and limitations and problems with these new algorithms. Organisational limitations and restrictions to these initiatives are also discussed.

A review of simulation models for railway systems

With the advances in computer hardware and software development techniques in the past 25 years, digital computer simulation of train movement and traction systems has been widely adopted as a standard computer-aided engineering tool [1] during the design and development stages of existing and new railway systems. Simulators of different approaches and scales are used extensively to investigate various kinds of system studies. Simulation is now proven to be the cheapest means to carry out performance predication and system behaviour characterisation. When computers were first used to study railway systems, they were mainly employed to perform repetitive but time-consuming computational tasks, such as matrix manipulations for power network solution and exhaustive searches for optimal braking trajectories. With only simple high-level programming languages available at the time, full advantage of the computing hardware could not be taken. Hence, structured simulations of the whole railway system were not very common. Most applications focused on isolated parts of the railway system. It is more appropriate to regard those applications as primarily mechanised calculations rather than simulations. However, a railway system consists of a number of subsystems, such as train movement, power supply and traction drives, which inevitably contains many complexities and diversities. These subsystems interact frequently with each other while the trains are moving; and they have their special features in different railway systems. To further complicate the simulation requirements, constraints like track geometry, speed restrictions and friction have to be considered, not to mention possible non-linearities and uncertainties in the system. In order to provide a comprehensive and accurate account of system behaviour through simulation, a large amount of data has to be organised systematically to ensure easy access and efficient representation; the interactions and relationships among the subsystems should be defined explicitly. These requirements call for sophisticated and effective simulation models for each component of the system. The software development techniques available nowadays allow the evolution of such simulation models. Not only can the applicability of the simulators be largely enhanced by advanced software design, maintainability and modularity for easy understanding and further development, and portability for various hardware platforms are also encouraged. The objective of this paper is to review the development of a number of approaches to simulation models. Attention is, in particular, given to models for train movement, power supply systems and traction drives. These models have been successfully used to enable various ‘what-if’ issues to be resolved effectively in a wide range of applications, such as speed profiles, energy consumption, run times etc.

Wavelet based approaches and high resolution methods for complex process models

Many industrial processes and systems can be modelled mathematically by a set of Partial Differential Equations (PDEs). Finding a solution to such a PDF model is essential for system design, simulation, and process control purpose. However, major difficulties appear when solving PDEs with singularity. Traditional numerical methods, such as finite difference, finite element, and polynomial based orthogonal collocation, not only have limitations to fully capture the process dynamics but also demand enormous computation power due to the large number of elements or mesh points for accommodation of sharp variations. To tackle this challenging problem, wavelet based approaches and high resolution methods have been recently developed with successful applications to a fixedbed adsorption column model. Our investigation has shown that recent advances in wavelet based approaches and high resolution methods have the potential to be adopted for solving more complicated dynamic system models. This chapter will highlight the successful applications of these new methods in solving complex models of simulated-moving-bed (SMB) chromatographic processes. A SMB process is a distributed parameter system and can be mathematically described by a set of partial/ordinary differential equations and algebraic equations. These equations are highly coupled; experience wave propagations with steep front, and require significant numerical effort to solve. To demonstrate the numerical computing power of the wavelet based approaches and high resolution methods, a single column chromatographic process modelled by a Transport-Dispersive-Equilibrium linear model is investigated first. Numerical solutions from the upwind-1 finite difference, wavelet-collocation, and high resolution methods are evaluated by quantitative comparisons with the analytical solution for a range of Peclet numbers. After that, the advantages of the wavelet based approaches and high resolution methods are further demonstrated through applications to a dynamic SMB model for an enantiomers separation process. This research has revealed that for a PDE system with a low Peclet number, all existing numerical methods work well, but the upwind finite difference method consumes the most time for the same degree of accuracy of the numerical solution. The high resolution method provides an accurate numerical solution for a PDE system with a medium Peclet number. The wavelet collocation method is capable of catching up steep changes in the solution, and thus can be used for solving PDE models with high singularity. For the complex SMB system models under consideration, both the wavelet based approaches and high resolution methods are good candidates in terms of computation demand and prediction accuracy on the steep front. The high resolution methods have shown better stability in achieving steady state in the specific case studied in this Chapter.

GVS : A flexible, low-end, 3D visualisation framework for enhancing conceptual groundwater models for community, management and simulations

In this paper we discuss an advanced, 3D groundwater visualisation and animation system that allows scientists, government agencies and community groups to better understand the groundwater processes that effect community planning and decision-making. The system is unique in that it has been designed to optimise community engagement. Although it incorporates a powerful visualisation engine, this open-source system can be freely distributed and boasts a simple user interface allowing individuals to run and investigate the models on their own PCs and gain intimate knowledge of the groundwater systems. The initial version of the Groundwater Visualisation System (GVS v1.0), was developed from a coastal delta setting (Bundaberg, QLD), and then applied to a basalt catchment area (Obi Obi Creek, Maleny, QLD). Several major enhancements have been developed to produce higher quality visualisations, including display of more types of data, support for larger models and improved user interaction. The graphics and animation capabilities have also been enhanced, notably the display of boreholes, depth logs and time-series water level surfaces. The GVS software remains under continual development and improvement

Group segmentation during object tracking using optical flow discontinuities

Within a surveillance video, occlusions are commonplace, and accurately resolving these occlusions is key when seeking to accurately track objects. The challenge of accurately segmenting objects is further complicated by the fact that within many real-world surveillance environments, the objects appear very similar. For example, footage of pedestrians in a city environment will consist of many people wearing dark suits. In this paper, we propose a novel technique to segment groups and resolve occlusions using optical flow discontinuities. We demonstrate that the ratio of continuous to discontinuous pixels within a region can be used to locate the overlapping edges, and incorporate this into an object tracking framework. Results on a portion of the ETISEO database show that the proposed algorithm results in improved tracking performance overall, and improved tracking within occlusions.

A 'conceptual models' approach to organisational resilience

Gibson and Tarrant discuss the range of inter-dependant factors needed to manage organisational resilience. Over the last few years there has been considerable interest in the idea of resilience across all areas of society. Like any new area or field this has produced a vast array of definitions, processes, management systems and measurement tools which together have clouded the concept of resilience. Many of us have forgotten that ultimately resilience is not just about ‘bouncing back from adversity’ but is more broadly concerned with adaptive capacity and how we better understand and address uncertainty in our internal and external environments. The basis of organisational resilience is a fundamental understanding and treatment of risk, particularly non-routine or disruption related risk. This paper presents a number of conceptual models of organisational resilience that we have developed to demonstrate the range of inter-dependant factors that need to be considered in the management of such risk. These conceptual models illustrate that effective resilience is built upon a range of different strategies that enhance both ‘hard’ and ‘soft’ organisational capabilities . They emphasise the concept that there is no quick fix, no single process, management system or software application that will create resilience.

Examination of the latent structure of the psychological sense of school membership scale

Despite its widespread use, there has been limited examination of the underlying factor structure of the Psychological Sense of School Membership (PSSM) scale. The current study examined the psychometric properties of the PSSM to refine its utility for researchers and practitioners using a sample of 504 Australian high school students. Results from exploratory and confirmatory factor analyses indicated that the PSSM is a multidimensional instrument. Factor analysis procedures identified three factors representing related aspects of students’ perceptions of their school membership: caring relationships, acceptance, and rejection

Optimism about safety and group-serving interpretations of safety among pedestrians and cyclists in relation to road use in general and under low light conditions

Drivers are known to be optimistic about their risk of crash involvement, believing that they are less likely to be involved in a crash than other drivers. However, little comparative research has been conducted among other road users. In addition, optimism about crash risk is conceptualised as applying only to an individual’s assessment of his or her personal risk of crash involvement. The possibility that the self-serving nature of optimism about safety might be generalised to the group-level as a cyclist or a pedestrian, i.e., becoming group-serving rather than self-serving, has been overlooked in relation to road safety. This study analysed a subset of data collected as part of a larger research project on the visibility of pedestrians, cyclists and road workers, focusing on a set of questionnaire items administered to 406 pedestrians, 838 cyclists and 622 drivers. The items related to safety in various scenarios involving drivers, pedestrians and cyclists, allowing predictions to be derived about group differences in agreement with items based on the assumption that the results would exhibit group-serving bias. Analysis of the responses indicated that specific hypotheses about group-serving interpretations of safety and responsibility were supported in 22 of the 26 comparisons. When the nine comparisons relevant to low lighting conditions were considered separately, seven were found to be supported. The findings of the research have implications for public education and for the likely acceptance of messages which are inconsistent with current assumptions and expectations of pedestrians and cyclists. They also suggest that research into group-serving interpretations of safety, even for temporary roles rather than enduring groups, could be fruitful. Further, there is an implication that gains in safety can be made by better educating road users about the limitations of their visibility and the ramifications of this for their own road safety, particularly in low light.

Clone Detection in Repositories of Business Process Models

Business process model repositories capture precious knowledge about an organization or a business domain. In many cases, these repositories contain hundreds or even thousands of models and they represent several man-years of effort. Over time, process model repositories tend to accumulate duplicate fragments, as new process models are created by copying and merging fragments from other models. This calls for methods to detect duplicate fragments in process models that can be refactored as separate subprocesses in order to increase readability and maintainability. This paper presents an indexing structure to support the fast detection of clones in large process model repositories. Experiments show that the algorithm scales to repositories with hundreds of models. The experimental results also show that a significant number of non-trivial clones can be found in process model repositories taken from industrial practice.

Online service delivery models : an international comparison in the public sector

Governments around the world are facing the challenge of responding to increased expectations by their customers with regard to public service delivery. Citizens, for example, expect governments to provide better and more efficient electronic services on the Web in an integrated way. Online portals have become the approach of choice in online service delivery to meet these requirements and become more customer-focussed. This study describes and analyses existing variants of online service delivery models based upon an empirical study and provides valuable insights for researchers and practitioners in government. For this study, we have conducted interviews with senior management representatives from five international governments. Based on our findings, we distinguish three different classes of service delivery models. We describe and characterise each of these models in detail and provide an in-depth discussion of the strengths and weaknesses of these approaches.

Fragment-based version management for repositories of business process models

As organizations reach higher levels of Business Process Management maturity, they tend to accumulate large collections of process models. These repositories may contain thousands of activities and be managed by different stakeholders with varying skills and responsibilities. However, while being of great value, these repositories induce high management costs. Thus, it becomes essential to keep track of the various model versions as they may mutually overlap, supersede one another and evolve over time. We propose an innovative versioning model and associated storage structure, specifically designed to maximize sharing across process model versions, and to automatically handle change propagation. The focal point of this technique is to version single process model fragments, rather than entire process models. Indeed empirical evidence shows that real-life process model repositories have numerous duplicate fragments. Experiments on two industrial datasets confirm the usefulness of our technique.

Assessing the potential impact of web services on business processes

Though web services offer unique opportunities for the design of new business processes, the assessment of the potential impact of Web services on existing business information systems is often reduced to technical aspects. This paper proposes a four-phase methodology which facilitates the evaluation of the potential use of Web services on business information systems both from a technical and from a strategic viewpoint. It is based on business process models, which are used to frame the adoption and deployment of Web services and to assess their impact on existing business processes. The application of this methodology is described using a procurement scenario.

Resorbable composite scaffolds for bone tissue engineering

Bone loss associated with trauma osteo-degenerative diseases and tumors has tremendous socioeconomic impact related to personal and occupation disability and health care costs. Bone grafting is often critical to surgical therapies. Autogenous bone is presently the preferred grafting material; however, this holds several disadvantages such as donor site morbidity. In the present climate of increasing life expectancy with an ensuing increase in bone-related injuries, orthopaedic surgery is undergoing a paradigm shift from bone-grafting to bone engineering, where a scaffold is implanted to provide adequate load bearing and enhance tissue regeneration. Our group at Queensland University of Technology (QUT) have developed, characterised and tested polycaprolactone/ tricalcium phosphate (PCL/TCP) composite scaffolds for low load-bearing bone defects. These scaffolds are being further developed for application in higher load bearing sites. Our approach emphasizes the importance of the biomaterials’ structural design, the scaffold architecture and structural and nutritional requirements for cell culture. These first-generation scaffolds made from medical grade PCL (mPCL) have been studied for more than 5 years within a clinical setting 1. This paper describes the application of second-generation scaffolds in small and large animal bone defect models and the ensuing bone regeneration as shown by histology and µCT.