On the estimation and inference in factor-augmented panel regressions with correlated loadings

In an influential paper, Pesaran [Pesaran, M.H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica 74, 967–1012] proposes a very simple estimator of factor-augmented regressions that has since then become very popular. In this note we demonstrate how the presence of correlated factor loadings can render this estimator inconsistent.

Multi-sensory face biometric fusion (for personal identification)

The objective of this work is to recognize faces using sets of images in visual and thermal spectra. This is challenging because the former is greatly affected by illumination changes, while the latter frequently contains occlusions due to eye-wear and is inherently less discriminative. Our method is based on a fusion of the two modalities. Specifically: we examine (i) the effects of preprocessing of data in each domain, (ii) the fusion of holistic and local facial appearance, and (iii) propose an algorithm for combining the similarity scores in visual and thermal spectra in the presence of prescription glasses and significant pose variations, using a small number of training images (5-7). Our system achieved a high correct identification rate of 97% on a freely available test set of 29 individuals and extreme illumination changes.

Research priorities for child and adolescent physical activity and sedentary behaviours: an international perspective using a twin-panel Delphi procedure

Background
The quantity and quality of studies in child and adolescent physical activity and sedentary behaviour have rapidly increased, but research directions are often pursued in a reactive and uncoordinated manner.

Aim
To arrive at an international consensus on research priorities in the area of child and adolescent physical activity and sedentary behaviour.

Methods
Two independent panels, each consisting of 12 experts, undertook three rounds of a Delphi methodology. The Delphi methodology required experts to anonymously answer questions put forward by the researchers with feedback provided between each round.

Results
The primary outcome of the study was a ranked set of 29 research priorities that aimed to be applicable for the next 10 years. The top three ranked priorities were: developing effective and sustainable interventions to increase children’s physical activity long-term; policy and/or environmental change and their influence on children’s physical activity and sedentary behaviour; and prospective, longitudinal studies of the independent effects of physical activity and sedentary behaviour on health.

Conclusions
These research priorities can help to guide decisions on future research directions.

Trained to think- trained to design

With new changes to the role and view of design, design professionals are now a part of greater thinking and action on issues that are traditionally outside of the designer's realm. How does design education adapt to this reality? Russell Kennedy explores this and the role that the Icograda Education Network plays in the future of design education. Highlights of this article were originally published in Cumulus' DESIGNER: Careers and Professionalization.

Affective energies : Sensory bodies on the beach in Darwin, Australia

Emerging debates on anti-racism within white majority cultures centre emotion and affect to explore the visceral nature of racialised encounters that unfold in public spaces of the city. This paper builds on such understandings by conceptualising whiteness as a force that exerts affective pressures on bodies of colour who are hypervisible in public spaces. I show that these pressures have the potential to wound, numb and immobilise bodies affecting what they can do or what they can become. This paper argues, however, that affective energies from human and non-human sources are productive forces that are also sensed in public spaces such as the suburban beach. These energies entangle sensuous bodies with the richness of a more-than-human world and have the potential to offer new insights into exploring how racially differentiated bodies live with difference. The paper draws on ethnographic research conducted in Darwin, a tropical north Australian city at the centre of politicised public debates on asylum seeker policy, migrant integration and Indigenous wellbeing. My attention to affective pressures and affective energies contributes to understanding how bodies with complex histories and geographies of racialisation can inhabit a world of becoming. © 2014 Elsevier Ltd. All rights reserved.

A panel vector error correction approach to forecasting demand in regional construction markets

Reliable forecasting as to the level of aggregate demand for construction is of vital importance to developers, builders and policymakers. Previous construction demand forecasting studies mainly focused on temporal estimating using national aggregate data. The construction market can be better represented by a group of interconnected regions or local markets rather than a national aggregate, and yet regional forecasting techniques have rarely been applied. Furthermore, limited research has applied regional variations in construction markets to construction demand modelling and forecasting. A new comprehensive method is used, a panel vector error correction approach, to forecast regional construction demand using Australia’s state-level data. The links between regional construction demand and general economic indicators are investigated by panel cointegration and causality analysis. The empirical results suggest that both long-run and causal links are found between regional construction demand and construction price, state income, population, unemployment rates and interest rates. The panel vector error correction model can provide reliable and robust forecasting with less than 10% of the mean absolute percentage error for a medium-term trend of regional construction demand and outperforms the conventional forecasting models (panel multiple regression and time series multiple regression model). The key macroeconomic factors of construction demand variations across regions in Australia are also presented. The findings and robust econometric techniques used are valuable to construction economists in examining future construction markets at a regional level.

Panel versus GARCH information in unit root testing with an application to financial markets

In a search for more powerful unit root tests, some researchers have recently proposed accounting for the information contained in the GARCH of the innovations. However, while promising, tests with GARCH are difficult to implement, which has made them quite uncommon in the empirical literature. A computationally attractive alternative is to account not for GARCH but the information contained in a panel of multiple time series. The purpose of the current note is to compare the relative power achievable from these two information sources. © 2014 Elsevier B.V.