An empirical investigation of the level effect in Australian interest rates

An extensive literature examines the dynamics of interest rates, with particular attention given to the positive relationship between interest-rate volatility and the level of interest rates—the so-called level effect. This paper examines the interaction between the estimated level effect and competing parameterisations of interest-rate volatility for the Australian yield curve. We adopt a new methodology that estimates elasticity in a multivariate setting that explicitly accommodates the correlations that exist between various yield factors. Results show that significant correlations exist between the residuals of yield factors and that such correlations do indeed impact on model estimates. Within the multivariate setting, the level of the short rate is shown to be a crucial determinant of the conditional volatility of all three yield factors. Measures of model fit suggest that, in addition to the usual level effect, the incorporation of GARCH effects and possible regime shifts is important

Street computing workshop 2009

The Street Computing workshop, held in conjunction with OZCHI 2009, solicits papers discussing new research directions, early research results, works-in-progress and critical surveys of prior research work in the areas of ubiquitous computing and interaction design for urban environments. Urban spaces have unique characteristics. Typically, they are densely populated, buzzing with life twenty-four hours a day, seven days a week. These traits afford many opportunities, but they also present many challenges: traffic jams, smog and pollution, stress placed on public services, and more. Computing technology, particularly the kind that can be placed in the hands of citizens, holds much promise in combating some of these challenges. Yet, computation is not merely a tool for overcoming challenges; rather, when embedded appropriately in our everyday lives, it becomes a tool of opportunity, for shaping how our cities evolve, for enabling us to interact with our city and its people in new ways, and for uncovering useful, but hidden relationships and correlations between elements of the city. The increasing availability of an urban computing infrastructure has lead to new and exciting ways inhabitants can interact with their city. This includes interaction with a wide range of services (e.g. public transport, public services), conceptual representations of the city (e.g. local weather and traffic conditions), the availability of a variety of shared and personal displays (e.g. public, ambient, mobile) and the use of different interaction modes (e.g. tangible, gesture-based, token-based). This workshop solicits papers that address the above themes in some way. We encourage researchers to submit work that deals with challenges and possibilities that the availability of urban computing infrastructure such as sensors and middleware for sensor networks pose. This includes new and innovative ways of interacting with and within urban environments; user experience design and participatory design approaches for urban environments; social aspects of urban computing; and other related areas.

Hungry 24/7? HCI design for sustainable food culture workshop

This workshop proposes to explore new approaches to cultivate and support sustainable food culture in urban environments via human computer interaction design and ubiquitous technologies. Food is a challenging issue in urban contexts: while food consumption decisions are made many times a day, most food interaction for urbanites occurs based on convenience and habitual practices. This situation is contrasting to the fact that food is at the centre of global environment, health, and social issues that are becoming increasingly immanent and imminent. As such, it is timely and crucial to ask: what are feasible, effective, and innovative ways to improve human-food-interaction through human-computer-interaction in order to contribute to environmental, health, and social sustainability in urban environments? This workshop brings together insights across disciplines to discuss this question, and plan and promote individual, local, and global change for sustainable food culture.

The culture of contemporary writers' festivals

This thesis examines the culture of contemporary writers’ festivals in an international context. In the last five decades writers’ festivals have emerged in cities across the world, and during this time they have expanded their literary discussions and debates to include numerous other topics of broad interest to society. To examine the expanded popularity and function of writers’ festivals, this thesis establishes a new vantage point for theorising the content now typically generated by these events using concepts in urban festivals and public culture research. Importantly, the new vantage point addresses the limitations of current commentary on writers’ festivals which routinely claim they trivialize literature, and more generally, contribute to the decline of public culture. The thesis presents two case studies: one on the Brisbane Writers Festival in Australia and the other on the International Festival of Authors in Toronto, Canada. The first case study, which focuses on the 2007 Brisbane Writers Festival, illustrates the many overlapping and often conflicting discourses as well as opinions productively discussed and debated at writers’ festivals. Key topic discussed and debated at the Festival include local topics about the host city—its history, literature and politics, as well as broader literary, political and celebrity culture topics. The diversity of topics discussed at the 2007 Brisbane Writers Festival is typical of the majority of writers’ festivals similarly located outside the largest geographic centres of global literary production and circulation, and designated as ‘peripheral’ festivals in this research. The second case study on Toronto’s International Festival of Authors examines the ways in which the 2006 Festival almost exclusively focussed on literary and celebrity culture discourses, and promoted itself on these terms. The 2006 International Festival of Authors’ discussion and debate of a narrow range of topics is typical of the few writers’ festivals located in global centres of literary production and circulation, and unlike ‘peripheral’ festivals they are not experiencing the same growth in number or popularity. The aim of these ‘international’ Festivals is not to democratise their elite literary beginnings, but rather to promote ‘literature’ as a niche brand for quality writing that is valid on a global scale. This thesis will assert that while all writers’ festivals are influenced by the marketing desires of publishing companies, the aim of international writers’ festivals in marketing to a virtually and globally connected elite literary audience makes them more susceptible to experiencing declines in audience and author participation.

Defining the public interests in airport development decision-making

Residents, businesses, local, state and national government stakeholders all want to have their say when airports expand or develop. While stakeholder engagement is increasingly a strategy employed for managing the tensions attracted to airport development, different stakeholders have different expectations and demands of airports. This requires different approaches to stakeholder engagement. Identifying the public interests that are at stake in developing airports provides an initial step towards building a platform for selecting and applying stakeholder engagement strategies in airport and more general infrastructure contexts. This paper uses the existing literature of public interests and values to build a general typology of public values for the stakeholders of airport development. A range of semi-privatised and state owned airport case studies from Europe have been used to demonstrate the universal nature of the identified values. The result is a framework that identifies both the substantive and procedural values, separated into local, state/regional and national levels of interest. The typology provides a generalised view of public interests in airport development; however, the public interests identified may be limited to more western oriented societies due to the skew of airport cases reviewed. Contributions are made to the literature with a typology of public values derived from existing knowledge and explored using empirical case examples. The provided typology enables research of airport development decision-making to delineate public interests both within and between stakeholder groups, and helps to explain the different perspectives that stakeholders have towards airport development. Future research may focus on refining the typology for different types of airport governance structures, such as differences between public values in state and market-led airport development; include more airport cases from eastern societies to draw parallels or differences between western and eastern societies; or utilise the typology as a framework for analysing changes in public interests of airports over time.

Community engagement for development and application of 3D visualisation models : a two edged

Background: SEQ Catchments Ltd and QUT are collaborating on groundwater investigations in the SE Qld region, which utilise community engagement and 3D Visualisation methodologies. The projects, which have been funded by the Australian Government’s NHT and Caring for our Country programmes, were initiated from local community concerns regarding groundwater sustainability and quality in areas where little was previously known. ----- Objectives: Engage local and regional stakeholders to tap all available sources of information;•Establish on-going (2 years +) community-based groundwater / surface water monitoring programmes;•Develop 3D Visualisation from all available data; and•Involve, train and inform the local community for improved on-ground land and water use management. ----- Results and findings: Respectful community engagement yielded information, access to numerous monitoring sites and education opportunities at low cost, which would otherwise be unavailable. A Framework for Community-Based Groundwater Monitoring has been documented (Todd, 2008).A 3D visualisation models have been developed for basaltic settings, which relate surface features familiar to the local community with the interpreted sub-surface hydrogeology. Groundwater surface movements have been animated and compared to local rainfall using the time-series monitoring data.An important 3D visualisation feature of particular interest to the community was the interaction between groundwater and surface water. This factor was crucial in raising awareness of potential impacts of land and water use on groundwater and surface water resources.

Wireless channel modelling for indoor populated environments : statistical characterization of narrowband channels at 2.45 Ghz and 5.2 Ghz

The recent development of indoor wireless local area network (WLAN) standards at 2.45 GHz and 5 GHz has led to increased interest in propagation studies at these frequency bands. Within the indoor environment, human body effects can strongly reduce the quality of wireless communication systems. Human body effects can cause temporal variations and shadowing due to pedestrian movement and antenna- body interaction with portable terminals. This book presents a statistical characterisation, based on measurements, of human body effects on indoor narrowband channels at 2.45 GHz and at 5.2 GHz. A novel cumulative distribution function (CDF) that models the 5 GHz narrowband channel in populated indoor environments is proposed. This novel CDF describes the received envelope in terms of pedestrian traffic. In addition, a novel channel model for the populated indoor environment is proposed for the Multiple-Input Multiple-Output (MIMO) narrowband channel in presence of pedestrians at 2.45 GHz. Results suggest that practical MIMO systems must be sufficiently adaptive if they are to benefit from the capacity enhancement caused by pedestrian movement.

Smart grids : better performance through communication and algorithms

There has been a developing interest in smart grids, the possibility of significantly enhanced performance from remote measurements and intelligent controls. For transmission the use of PMU signals from remote sites and direct load shed controls can give significant enhancement for large system disturbances rather than relying on local measurements and linear controls. This lecture will emphasize what can be found from remote measurements and the mechanisms to get a smarter response to major disturbances. For distribution systems there has been a significant history in the area of distribution reconfiguration automation. This lecture will emphasize the incorporation of Distributed Generation into distribution networks and the impact on voltage/frequency control and protection. Overall the performance of both transmission and distribution will be impacted by demand side management and the capabilities built into the system. In particular, we consider different time scales of load communication and response and look to the benefits for system, energy and lines.