Computationally Efficient Bootstrap Prediction Intervals for Returns and Volatilities in ARCH and GARCH Processes

We propose a novel, simple, efficient and distribution-free re-sampling technique for developing prediction intervals for returns and volatilities following ARCH/GARCH models. In particular, our key idea is to employ a Box–Jenkins linear representation of an ARCH/GARCH equation and then to adapt a sieve bootstrap procedure to the nonlinear GARCH framework. Our simulation studies indicate that the new re-sampling method provides sharp and well calibrated prediction intervals for both returns and volatilities while reducing computational costs by up to 100 times, compared to other available re-sampling techniques for ARCH/GARCH models. The proposed procedure is illustrated by an application to Yen/U.S. dollar daily exchange rate data.

CBIR Using Local and Global Properties of Image Sub-blocks

This paper proposes a content based image retrieval (CBIR) system using the local colour and texture features of selected image sub-blocks and global colour and shape features of the image. The image sub-blocks are roughly identified by segmenting the image into partitions of different configuration, finding the edge density in each partition using edge thresholding, morphological dilation and finding the corner density in each partition. The colour and texture features of the identified regions are computed from the histograms of the quantized HSV colour space and Gray Level Co- occurrence Matrix (GLCM) respectively. A combined colour and texture feature vector is computed for each region. The shape features are computed from the Edge Histogram Descriptor (EHD). Euclidean distance measure is used for computing the distance between the features of the query and target image. Experimental results show that the proposed method provides better retrieving result than retrieval using some of the existing methods

A Study On The Utilisation Of Plastic Wastes In Stabilised Masonry Blocks

At this era of energy crisis and resource depletion, availability of conventional materials throughout the year in quantity and quality, pose a hectic problem for the builders. Adding fuel to the fire, the demand of these materials increases day by day, since the housing and habitat requirements exponentially increase time to time. There is an international concern over this crisis and researchers are reorienting themselves, so as to evolve appropriate masonry units, using locally available cheap materials and technology. The concept of green material and construction has been well conceived in the research so that marginal materials and unskilled labour can be employed for the mass production of building blocks. In this context, considering earth as a sustainable material, there is a growing interest in the use of it, as a modern construction material. Solid waste management is one of the current major environmental concerns in our country. Our country is left with millions of cubic metre of waste plastics. One of the methods to satisfactorily address this solid waste management and the environmental issues is to suitably accommodate the waste in some form (as fibres). Their employability in block making in the form of fibres (plastic fibre- mud blocks) can be investigated through a fundamental research. Also, the review of the existing literature shows that most studies on natural fibres are focussed on cellulose based/ vegetable fibres obtained from renewable plant resources except in very few cases, where animal fibre, plastic fibre and polystyrene fabric were used. At this context, for the plastic fibre-mud blocks to be more widely applicable, a systematic quantification of the relevant physical and mechanical properties of the fibre masonry units is crucial, to enable an objective evaluation of the composite material’s response to actual field condition. This research highlights the salient observations from the detailed investigation of a systematic study on the effect of embedded fibres, made of plastic wastes on the performance of stabilised mud blocks.