Modeling urban traffic planning thro' strategic decisions- A case from Bangalore, India

This paper deals with reducing the waiting times of vehicles at the traffic junctions by synchronizing the traffic signals. Strategies are suggested for betterment of the situation at different time intervals of the day, thus ensuring smooth flow of traffic. The concept of single way systems are also analyzed. The situation is simulated in Witness 2003 Simulation package using various conventions. The average waiting times are reduced by providing an optimal combination for the traffic signal timer. Different signal times are provided for different times of the day, thereby further reducing the average waiting times at specific junctions/roads according to the experienced demands.

Towards measuring the impact of information availability on maintenance decisions

Decisions concerning maintenance have become increasingly important and requires a diverse set of information as systems become more complex. The availability of information has an impact on the effectiveness of these decisions, and thus on the performance of the asset. This paper highlights the importance of quantifying the value of information on maintenance decisions and asset performance. In particular, we emphasise the need to focus on measuring value as opposed to cost of maintenance, which is the current practice. In this direction, we propose a measure - Value of Ownership (VOO) - to assess the value of information and performance of maintenance decisions throughout an assets lifecycle. © 2009 IFAC.

Fiscal Policy and Economic Stability: Does PIGS stand for Procyclicality In Government Spending?

The Financial Crisis has hit particularly hard countries like Ireland or Spain. Procyclical fiscal policy has contributed to a boom-bust cycle that undermined fiscal positions and deepened current account deficits during the boom. We set up an RBC model of a small open economy, following Mendoza (1991), and introduce the effect of fiscal policy decisions that change over the cycle. We calibrate the model on data for Ireland, and simulate the effect of different spending policies in response to supply shocks. Procyclical fiscal policy distorts intertemporal allocation decisions. Temporary spending boosts in booms spur investment, and hence the need for external finance, and so generates very volatile cycles in investment and the current account. This economic instability is also harmful for the steady state level of output. Our model is able to replicate the relation between the degree of cyclicality of fiscal policy, and the volatility of consumption, investment and the current account observed in OECD countries.