Testing for error correction in panel data

This paper proposes new error correction-based cointegration tests for panel data. The limiting distributions of the tests are derived and critical values provided. Our simulation results suggest that the tests have good small-sample properties with small size distortions and high power relative to other popular residual-based panel cointegration tests. In our empirical application, we present evidence suggesting that international healthcare expenditures and GDP are cointegrated once the possibility of an invalid common factor restriction has been accounted for. © 2007 Blackwell Publishing Ltd.

Error-correction-based cointegration tests for panel data

This article describes a new Stata command called xtwest, which implements the four error-correction-based panel cointegration tests developed by Westerlund (2007). The tests are general enough to allow for a large degree of heterogeneity, both in the long-run cointegrating relationship and in the short-run dynamics, and dependence within as well as across the cross-sectional units.

Impact of automated dispensing cabinets on medication selection and preparation error rates in an emergency department: a prospective and direct observational before-and-after study

RATIONALE, AIMS AND OBJECTIVES: The implementation of automated dispensing cabinets (ADCs) in healthcare facilities appears to be increasing, in particular within Australian hospital emergency departments (EDs). While the investment in ADCs is on the increase, no studies have specifically investigated the impacts of ADCs on medication selection and preparation error rates in EDs. Our aim was to assess the impact of ADCs on medication selection and preparation error rates in an ED of a tertiary teaching hospital. METHODS: Pre intervention and post intervention study involving direct observations of nurses completing medication selection and preparation activities before and after the implementation of ADCs in the original and new emergency departments within a 377-bed tertiary teaching hospital in Australia. Medication selection and preparation error rates were calculated and compared between these two periods. Secondary end points included the impact on medication error type and severity. RESULTS: A total of 2087 medication selection and preparations were observed among 808 patients pre and post intervention. Implementation of ADCs in the new ED resulted in a 64.7% (1.96% versus 0.69%, respectively, P = 0.017) reduction in medication selection and preparation errors. All medication error types were reduced in the post intervention study period. There was an insignificant impact on medication error severity as all errors detected were categorised as minor. CONCLUSION: The implementation of ADCs could reduce medication selection and preparation errors and improve medication safety in an ED setting.

Mathematical modelling of linear motion error for Hexarot parallel manipulators

Hexarot is a robotic manipulator that belongs to the family of axis symmetric parallel mechanisms. The robot is able to move the robot platform or tool center point in six degrees of freedom (DOF). This paper presents the kinematics model of the robot including the inverse and forward kinematics, and its time derivatives. Then using the kinematics formulations, investigation of the nonlinear motion of the Hexarot robot for a desired linear motion path is performed. For this purpose, the concept of curvature of the robot path is used for measuring the nonlinearity of the actual motion of the robot. The nonlinear motion error of the robot is analyzed for the scenario where the platform moves on a linear path between two arbitrary points of the robot workspace. The effects of different parameters on the nonlinear motion error of the mechanism are demonstrated and strategies for motions with low error values are proposed.

Vector autoregressions and macroeconomic modeling: an error taxonomy

In this article we investigate the theoretical behaviour of finite lag VAR(n) models fitted to time series that in truth come from an infinite order VAR(∞) data generating mechanism. We show that the overall error can be broken down into two basic components, an estimation error that stems from the difference between the parameter estimates and their population ensemble VAR(n) counterparts, and an approximation error that stems from the difference between the VAR(n) and the true VAR(∞). The two sources of error are shown to be present in other performance indicators previously employed in the literature to characterize, so called, truncation effects. Our theoretical analysis indicates that the magnitude of the estimation error exceeds that of the approximation error, but experimental results based upon a prototypical real business cycle model and a practical example indicate that the approximation error approaches its asymptotic position far more slowly than does the estimation error, their relative orders of magnitude notwithstanding. The experimental results suggest that with sample sizes and lag lengths like those commonly employed in practice VAR(n) models are likely to exhibit serious errors of both types when attempting to replicate the dynamics of the true underlying process and that inferences based on VAR(n) models can be very untrustworthy.

Error correction testing in panels with common stochastic trends

This paper develops panel data tests for the null hypothesis of no error correction in a model with common stochastic trends. The asymptotic distributions of the new test statistics are derived and simulation results are provided to suggest that they perform well in small samples. Copyright © 2015 John Wiley & Sons, Ltd.

Achievable rate and error performance of an amplify and forward multi-way relay network in the presence of imperfect channel estimation

In this paper, we investigate the impact of channel estimation error on the achievable common rate and error performance of amplify and forward (AF) multi-way relay networks (MWRNs). Assuming lattice codes with large dimensions, we provide the analytical expressions for the end-to-end SNR at the users and obtain upper bounds on the achievable common rate for an AF MWRN. Moreover, considering binary phase shift keying (BPSK) modulation as the simplest case of lattice codes, we obtain the average bit error rate (BER) for a user in an AF MWRN. The analysis shows that the average BER is a linearly increasing function and the achievable common rate is a linearly decreasing function of the channel estimation error. On the other hand, the average BER decreases and the achievable common rate increases with increasing correlation between the true and the estimated channel. Also, we observe that the AFprotocol is robust against increasing number of users in terms of error performance. We show that when the decoding user has better channel conditions compared to other users, AF relaying gives a better error performance and common rate. Finally, simulation results are provided to verify the validity of our analysis.

Error performance analysis of a clustered multiway relay network

In this paper, we propose a new clustered structure for a multiway relay network (MWRN) with G clusters, N users per cluster, one intracluster relay per cluster, and a single intercluster relay. The proposed structure allows private information exchange among users within a certain cluster through the corresponding intracluster relay and only public information exchange among users in different clusters through the intercluster relay.In this paper, we quantify the dominating error events in the proposed clustered MWRN and derive the expressions for the probability of these error events. Then, we use these expressions to derive the average bit error rate (BER) of a clustered MWRN. It is shown that clustering in an MWRN improves the error performance by reducing the number of dominating error events and, in effect, reducing error propagation, compared with the nonclustered counterpart. The analysis proves that the average BER of a clustered MWRN is minimized when the number ofclusters and the number of users per cluster are chosen to be the closest possible factors of the total number of users, i.e., L = GN. Finally, numerical simulation results are provided to verify the validity of the analysis.

Cost analysis error? Exploring issues relating to whole-life cost estimation in sustainable housing

Purpose: The main purpose of the study is to promote consideration of the issues and approaches available for costing sustainable buildings with a view to minimising cost overruns, occasioned by conservative whole-life cost estimates. The paper primarily looks at the impact of adopting continuity in whole-life cost models for zero carbon houses. Design/methodology/approach: The study embraces a mathematically based risk procedure based on the binomial theorem for analysing the cost implication of the Lighthouse zero-carbon house project. A practical application of the continuous whole-life cost model is developed and results are compared with existing whole-life cost techniques using finite element methods and Monte Carlo analysis. Findings: With standard whole-life costing, discounted present-value analysis tends to underestimate the cost of a project. Adopting continuity in whole-life cost models presents a clearer picture and profile of the economic realities and decision-choices confronting clients and policy-makers. It also expands the informative scope on the costs of zero-carbon housing projects. Research limitations/implications: A primary limitation in this work is its focus on just one property type as the unit of analysis. This research is also limited in its consideration of initial and running cost categories only. The capital cost figures for the Lighthouse are indicative rather than definitive. Practical implications: The continuous whole-life cost technique is a novel and innovative approach in financial appraisal [...] Benefits of an improved costing framework will be far-reaching in establishing effective policies aimed at client acceptance and optimally performing supply chain networks. Originality/value: The continuous whole-life costing pioneers an experimental departure from the stereo-typical discounting mechanism in standard whole-life costing procedures.