Continental shift? An analysis of convergence trends in European real estate equities

European economic and political integration have been recognised as having implications for patterns of performance in national real estate and capital markets and have generated a wide body of research and commentary. In 1999, progress towards monetary integration within the European Union culminated in the introduction of a common currency and monetary policy. This paper investigates the effects of this ‘event’ on the behaviour of stock returns in European real estate companies. A range of statistical tests is applied to the performance of European property companies to test for changes in segmentation, co-movement and causality. The results suggest that, relative to the wider equity markets, the dispersion of performance is higher, correlations are lower, a common contemporaneous factor has much lower explanatory power whilst lead-lag relationships are stronger. Consequently, the evidence of transmission of monetary integration to real estate securities is less noticeable than to general securities. Less and slower integration is attributed to the relatively small size of the real estate securities market and the local and national nature of the majority of the companies’ portfolios.

Exploiting a hybrid environmental design strategy in the continental climate of Beijing

The built environment in China is required to achieve a 50% reduction in carbon emissions by 2020 against the 1980 design standard. A particular challenge is how to maintain acceptable comfort conditions through the hot humid summers and cold desiccating winters of its continental climate regions. Fully air-conditioned sealed envelopes, often fully glazed, are becoming increasingly common in these regions. Remedial strategies involve technical refinements to the air-handling equipment and a contribution from renewable energy sources in an attempt to achieve the prescribed net reduction in energy use. However an alternative hybrid environmental design strategy is developed in this research project. It exploits observed temperate periods of weeks, days, even hours in duration to free-run an office and exhibition building configured to promote natural stack ventilation when ambient conditions permit and mechanical ventilation when conditions require it, the two modes delivered through the same physical infrastructure. The proposal is modelled in proprietary software and the methodology adopted is described. The challenge is compounded by its first practical application to an existing reinforced concrete frame originally designed to receive a highly glazed envelope. This original scheme is reviewed in comparison. Furthermore the practical delivery of the proposal value engineered out a proportion of the ventilation stacks. The likely consequence of this for the environmental performance of the building is investigated through a sensitivity study.

Pollen-based continental climate reconstructions at 6 and 21 ka: a global synthesis

Subfossil pollen and plant macrofossil data derived from 14C-dated sediment profiles can provide quantitative information on glacial and interglacial climates. The data allow climate variables related to growing season warmth, winter cold, and plant-available moisture to be reconstructed. Continental-scale reconstructions have been made for the mid-Holocene (MH, around 6 ka) and Last Glacial Maximum (LGM, around 21 ka), allowing comparison with palaeoclimate simulations currently being carried out as part of the fifth Assessment Report (AR5) of the Intergovernmental Panel on Climate Change. The synthesis of the available MH and LGM climate reconstructions and their uncertainties, obtained using modern analogue, regression and model-inversion techniques, is presented for four temperature variables and two moisture variables. Reconstructions of the same variables based on surface-pollen assemblages are shown to be accurate and unbiased. Reconstructed LGM and MH climate anomaly patterns are coherent, consistent between variables, and robust with respect to the choice of technique. They support a conceptual model of the controls of Late Quaternary climate change whereby the first-order effects of orbital variations and greenhouse forcing on the seasonal cycle of temperature are predictably modified by responses of the atmospheric circulation and surface energy balance.

Proposal of redundant drive wire mechanism for producing motions with high acceleration and high precision

A new wire mechanism called Redundant Drive Wire Mechanism (RDWM) is proposed. The purpose of this paper is to build up the theory of a RDWM with fast motion and fine motion. First, the basic concepts of the proposed mechanism is presented. Second, the vector closure condition for the proposed mechanism is developed. Next, we present the basic equations, propose the basic structure of RDWM with the Internal DOF module, Double Actuation Modules and Precision Modules together with the properties of the mechanism. Finally, we conduct the simulation to show the validity of the RDWM.

Kinematical analysis of redundant drive wire mechanisms with velocity constraint

In this paper, we propose a new velocity constraint type for Redundant Drive Wire Mechanisms. The purpose of this paper is to demonstrate that the proposed velocity constraint module can fix the orientation of the movable part and to use the kinematical analysis method to obtain the moving direction of the movable part. First, we discuss the necessity of using this velocity constraint type and the possible applications of the proposed mechanism. Second, we derive the basic equations of a wire mechanism with this constraint type. Next, we present a method of motion analysis on active and passive constraint spaces, which is used to find the moving direction of a movable part. Finally, we apply the above analysis method on a wire mechanism with a velocity constraint module and on a wire mechanism with four double actuator modules. By evaluating the results, we prove the validity of the proposed constraint type.

Assessment of a 1 hour gridded precipitation dataset to drive a hydrological model: a case study of the summer 2007 floods in the Upper Severn, UK

In this study a gridded hourly 1-km precipitation dataset for a meso-scale catchment (4,062 km2) of the Upper Severn River, UK was constructed using rainfall radar data to disaggregate a daily precipitation (rain gauge) dataset. The dataset was compared to an hourly precipitation dataset created entirely from rainfall radar data. Results found that when assessed against gauge readings and as input to the Lisflood-RR hydrological model, the rain gauge/radar disaggregated dataset performed the best suggesting that this simple method of combining rainfall radar data with rain gauge readings can provide temporally detailed precipitation datasets for calibrating hydrological models.

Assessing continental-scale risks for generalist and specialist pollinating bee species under climate change

Increased risks of extinction to populations of animals and plants under changing climate have now been demonstrated for many taxa. This study assesses the extinction risks to species within an important genus of pollinating bees (Colletes: Apidae) by estimating the expected changes in the area and isolation of suitable habitat under predicted climatic condition for 2050. Suitable habitat was defined on the basis of the presence of known forage plants as well as climatic suitability. To investigate whether ecological specialisation was linked to extinction risk we compared three species which were generalist pollen foragers on several plant families with three species which specialised on pollen from a single plant species. Both specialist and generalist species showed an increased risk of extinction with shifting climate, and this was particularly high for the most specialised species (Colletes anchusae and C. wolfi). The forage generalist C. impunctatus, which is associated with Boreo-Alpine environments, is potentially threatened through significant reduction in available climatic niche space. Including the distribution of the principal or sole pollen forage plant, when modelling the distribution of monolectic or narrowly oligolectic species, did not improve the predictive accuracy of our models as the plant species were considerably more widespread than the specialised bees associated with them.

What processes drive the ocean heat transport?

The ocean contributes to regulating the Earth’s climate through its ability to transport heat from the equator to the poles. In this study we use long simulations of an ocean model to investigate whether the heat transport is carried primarily by wind-driven gyres or whether it is dominated by deep circulations associated with abyssal mixing and high latitude convection. The heat transport is computed as a function of temperature classes. In the Pacific and Indian ocean, the bulk of the heat transport is associated with wind-driven gyres confined to the thermocline. In the Atlantic, the thermocline gyres account for only 40% of the total heat transport. The remaining 60% is associated with a circulation reaching down to cold waters below the thermocline. Using a series of sensitivity experiments, we show that this deep heat transport is primarily set by the strength and patterns of surface winds and only secondarily by diabatic processes at high latitudes in the North Atlantic. Abyssal mixing below 2000 m has hardly any impact on ocean heat transport. A major implication is that the role of the ocean in regulating Earth’s climate strongly depends on how surface winds change across different climates in both hemispheres at low and high latitudes.

Developmental changes in the balance of disparity, blur and looming/proximity cues to drive ocular alignment and focus

Accurate co-ordination of accommodation and convergence is necessary to view near objects and develop fine motor co-ordination. We used a remote haploscopic videorefraction paradigm to measure longitudinal changes in simultaneous ocular accommodation and vergence to targets at different depths, and to all combinations of blur, binocular disparity, and change-in-size (“proximity”) cues. Infants were followed longitudinally and compared to older children and young adults, with the prediction that sensitivity to different cues would change during development. Mean infant responses to the most naturalistic condition were similar to those of adults from 6-7 weeks (accommodation) and 8-9 weeks (vergence). Proximity cues influenced responses most in infants less than 14 weeks of age, but sensitivity declined thereafter. Between 12-28 weeks of age infants were equally responsive to all three cues, while in older children and adults manipulation of disparity resulted in the greatest changes in response. Despite rapid development of visual acuity (thus increasing availability of blur cues), responses to blur were stable throughout development. Our results suggest that during much of infancy, vergence and accommodation responses are not dependent on the development of specific depth cues, but make use of any cues available to drive appropriate changes in response.

Measuring the value of “all play and no work”: can rigorous assessment of simulation games drive innovative teaching in construction?

The construction field is dynamic and dominated by complex, ill-defined problems for which myriad possible solutions exist. Teaching students to solve construction-related problems requires an understanding of the nature of these complex problems as well as the implementation of effective instructional strategies to address them. Traditional approaches to teaching construction planning and management have long been criticized for presenting students primarily with well-defined problems - an approach inconsistent with the challenges encountered in the industry. However, growing evidence suggests that employing innovative teaching approaches, such as interactive simulation games, offers more active, hands-on and problem-based learning opportunities for students to synthesize and test acquired knowledge more closely aligned with real-life construction scenarios. Simulation games have demonstrated educational value in increasing student problem solving skills and motivation through critical attributes such as interaction and feedback-supported active learning. Nevertheless, broad acceptance of simulation games in construction engineering education remains limited. While recognizing benefits, research focused on the role of simulation games in educational settings lacks a unified approach to developing, implementing and evaluating these games. To address this gap, this paper provides an overview of the challenges associated with evaluating the effectiveness of simulation games in construction education that still impede their wide adoption. An overview of the current status, as well as the results from recently implemented Virtual Construction Simulator (VCS) game at Penn State provide lessons learned, and are intended to guide future efforts in developing interactive simulation games to reach their full potential.

Exploring the climatic impact of the continental vegetation on the Mezosoic atmospheric CO2 and climate history

In this contribution, we continue our exploration of the factors defining the Mesozoic climatic history. We improve the Earth system model GEOCLIM designed for long term climate and geochemical reconstructions by adding the explicit calculation of the biome dynamics using the LPJ model. The coupled GEOCLIM-LPJ model thus allows the simultaneous calculation of the climate with a 2-D spatial resolution, the coeval atmospheric CO2, and the continental biome distribution. We found that accounting for the climatic role of the continental vegetation dynamics (albedo change, water cycle and surface roughness modulations) strongly affects the reconstructed geological climate. Indeed the calculated partial pressure of atmospheric CO2 over the Mesozoic is twice the value calculated when assuming a uniform constant vegetation. This increase in CO2 is triggered by a global cooling of the continents, itself triggered by a general increase in continental albedo owing to the development of desertic surfaces. This cooling reduces the CO2 consumption through silicate weathering, and hence results in a compensating increase in the atmospheric CO2 pressure. This study demonstrates that the impact of land plants on climate and hence on atmospheric CO2 is as important as their geochemical effect through the enhancement of chemical weathering of the continental surface. Our GEOCLIM-LPJ simulations also define a climatic baseline for the Mesozoic, around which exceptionally cool and warm events can be identified.

Impact of atmospheric forcing on Antarctic continental shelf water masses

The Antarctic continental shelf seas feature a bimodal distribution of water mass temperature, with the Amundsen and Bellingshausen Seas flooded by Circumpolar Deep Water that is several degrees Celsius warmer than the cold shelf waters prevalent in the Weddell and Ross Seas. This bimodal distribution could be caused by differences in atmospheric forcing, ocean dynamics, ocean and ice feedbacks, or some combination of these factors. In this study, a highly simplified coupled sea ice–mixed layer model is developed to investigate the physical processes controlling this situation. Under regional atmospheric forcings and parameter choices the 10-yr simulations demonstrate a complete destratification of the Weddell Sea water column in winter, forming cold, relatively saline shelf waters, while the Amundsen Sea winter mixed layer remains shallower, allowing a layer of deep warm water to persist. Applying the Weddell atmospheric forcing to the Amundsen Sea model destratifies the water column after two years, and applying the Amundsen forcing to the Weddell Sea model results in a shallower steady-state winter mixed layer that no longer destratifies the water column. This suggests that the regional difference in atmospheric forcings alone is sufficient to account for the bimodal distribution in Antarctic shelf-sea temperatures. The model prediction of mixed layer depth is most sensitive to the air temperature forcing, but a switch in all forcings is required to prevent destratification of the Weddell Sea water column.

Relationships between human population density and burned area at continental and global scales

We explore the large spatial variation in the relationship between population density and burned area, using continental-scale Geographically Weighted Regression (GWR) based on 13 years of satellite-derived burned area maps from the global fire emissions database (GFED) and the human population density from the gridded population of the world (GPW 2005). Significant relationships are observed over 51.5% of the global land area, and the area affected varies from continent to continent: population density has a significant impact on fire over most of Asia and Africa but is important in explaining fire over < 22% of Europe and Australia. Increasing population density is associated with both increased and decreased in fire. The nature of the relationship depends on land-use: increasing population density is associated with increased burned are in rangelands but with decreased burned area in croplands. Overall, the relationship between population density and burned area is non-monotonic: burned area initially increases with population density and then decreases when population density exceeds a threshold. These thresholds vary regionally. Our study contributes to improved understanding of how human activities relate to burned area, and should contribute to a better estimate of atmospheric emissions from biomass burning.

Climate and CO2 controls on global vegetation distribution at the last glacial maximum: analysis based on palaeovegetation data, biome modelling and palaeoclimate simulations.

The global vegetation response to climate and atmospheric CO2 changes between the last glacial maximum and recent times is examined using an equilibrium vegetation model (BIOME4), driven by output from 17 climate simulations from the Palaeoclimate Modelling Intercomparison Project. Features common to all of the simulations include expansion of treeless vegetation in high northern latitudes; southward displacement and fragmentation of boreal and temperate forests; and expansion of drought-tolerant biomes in the tropics. These features are broadly consistent with pollen-based reconstructions of vegetation distribution at the last glacial maximum. Glacial vegetation in high latitudes reflects cold and dry conditions due to the low CO2 concentration and the presence of large continental ice sheets. The extent of drought-tolerant vegetation in tropical and subtropical latitudes reflects a generally drier low-latitude climate. Comparisons of the observations with BIOME4 simulations, with and without consideration of the direct physiological effect of CO2 concentration on C3 photosynthesis, suggest an important additional role of low CO2 concentration in restricting the extent of forests, especially in the tropics. Global forest cover was overestimated by all models when climate change alone was used to drive BIOME4, and estimated more accurately when physiological effects of CO2 concentration were included. This result suggests that both CO2 effects and climate effects were important in determining glacial-interglacial changes in vegetation. More realistic simulations of glacial vegetation and climate will need to take into account the feedback effects of these structural and physiological changes on the climate.