Multi-level, Multi-stage and Stochastic Optimization Models for Energy Conservation in Buildings for Federal, State and Local Agencies

Energy Conservation Measure (ECM) project selection is made difficult given real-world constraints, limited resources to implement savings retrofits, various suppliers in the market and project financing alternatives. Many of these energy efficient retrofit projects should be viewed as a series of investments with annual returns for these traditionally risk-averse agencies. Given a list of ECMs available, federal, state and local agencies must determine how to implement projects at lowest costs. The most common methods of implementation planning are suboptimal relative to cost. Federal, state and local agencies can obtain greater returns on their energy conservation investment over traditional methods, regardless of the implementing organization. This dissertation outlines several approaches to improve the traditional energy conservations models. Any public buildings in regions with similar energy conservation goals in the United States or internationally can also benefit greatly from this research. Additionally, many private owners of buildings are under mandates to conserve energy e.g., Local Law 85 of the New York City Energy Conservation Code requires any building, public or private, to meet the most current energy code for any alteration or renovation. Thus, both public and private stakeholders can benefit from this research. The research in this dissertation advances and presents models that decision-makers can use to optimize the selection of ECM projects with respect to the total cost of implementation. A practical application of a two-level mathematical program with equilibrium constraints (MPEC) improves the current best practice for agencies concerned with making the most cost-effective selection leveraging energy services companies or utilities. The two-level model maximizes savings to the agency and profit to the energy services companies (Chapter 2). An additional model presented leverages a single congressional appropriation to implement ECM projects (Chapter 3). Returns from implemented ECM projects are used to fund additional ECM projects. In these cases, fluctuations in energy costs and uncertainty in the estimated savings severely influence ECM project selection and the amount of the appropriation requested. A risk aversion method proposed imposes a minimum on the number of “of projects completed in each stage. A comparative method using Conditional Value at Risk is analyzed. Time consistency was addressed in this chapter. This work demonstrates how a risk-based, stochastic, multi-stage model with binary decision variables at each stage provides a much more accurate estimate for planning than the agency’s traditional approach and deterministic models. Finally, in Chapter 4, a rolling-horizon model allows for subadditivity and superadditivity of the energy savings to simulate interactive effects between ECM projects. The approach makes use of inequalities (McCormick, 1976) to re-express constraints that involve the product of binary variables with an exact linearization (related to the convex hull of those constraints). This model additionally shows the benefits of learning between stages while remaining consistent with the single congressional appropriations framework.

Elections 2.0 : reflections on the 2010 federal election and the future of Australian electoral law

This article analyses the 2010 federal election and the impact the internet and social media had on electoral law, and what this may mean for electoral law in the future. Four electoral law issues arising out of the 2010 election as a result of the internet are considered, including online enrolment, regulation of online advertising and comment, fundraising and the role of lobby groups, especially when it comes to crowdsourcing court challenges. Finally, the article offers some suggestions as to how the parliament and the courts should respond to these challenges.

Brighter lights on Capital Hill? Speculations upon federal framing and policy analysis of Indigenous issues

Postwar Australian social policy has occurred within neoliberal, social-conservative and social democratic ideational frameworks. Recent perceptions vary from concern about high levels of public spending, through disquiet about cultural change, to fear that government inaction is ignoring community needs and creating fractious and unhealthy social conditions. this paper examines these alternate ideological influences as they could affect Indigenous Australians with a focus on the values and approaches that might lead logically to desirable outcomes. effective policy requires clarity and compatibility between government thinking and the social values of Indigenous people. At issue is how the objectives of policy for Indigenous citizens might be determined.

Joseph A. Rosen Papers 1921-1938

With few exceptions, the bulk of the collection pertains to the work of the Agro-Joint. Records of the Agro-Joint Director General. Agreements of the American Relief Administration (ARA) and the Joint Distribution Committee with the Soviet government, 1922-1923. Agreements between the Agro-Joint and the Soviet government, 1924, 1927, 1928. Agreements of the Agro-Joint and the American Society for Jewish Farm Settlements (ASJFS) with the Soviet government, 1929, 1930, 1933, 1938. Materials relating to relief work of the JDC within the framework of the American Relief Administration, 1922, including the appointment of J. Rosen as the JDC representative at the ARA. Statistics, reports, miscellaneous correspondence relating to JDC activities in Russia. Minutes, memos, reports, legal documents, certificate of incorporation, and general correspondence relating to the ASJFS, its formation, fund-raising activities, 1927-1939. Records of the Agro-Joint Main Office, Moscow. Annual and periodi c reports of the Agro-Joint including statistics, financial estimates, financial reports, analyses of expenditures, relating to Agro-Joint work, 1924-1937. General correspondence files: incoming and outgoing letters, reports, and memoranda. Materials relating to land surveys and allocations in the Crimea: statistics, surveys, memos, correspondence, relating to the Salsk district, Chernomor district, Changar peninsula, Azov, Kuban, Odessa district, Samara district, Povolzhe, Krivoy Rog, Kherson, The Far East, Siberia. Materials relating to contacts with KOMZET. Correspondence, minutes of KOMZET meetings, statistical information, reports. By-laws of the OZET (Obshchestvo po Zemleustroystvu Trudyachtchikhsya Evreev - Association For the Settlement of Toiling Jews On Land) and AGRO-KUSTBANK (Evreysky Agrarno-Kustarny Bank - Jewish Agricultural and House Workers Bank). Register of Agro-Joint assets transferred to KOMZET. Records of the Agro-Joint Agricultural Department. Materials

Wider share ownership?: investors in English and Welsh Bank shares in the nineteenth century

The joint-stock banks that established after the liberalizing legislation of 1826 were periodically criticized during the nineteenth century for their low-quality and rapidly deteriorating shareholder constituencies. The quality of a bank's shareholding constituency was of paramount importance because of unlimited shareholder liability. Using archival records, this article examines the quality of bank shareholder constituencies over the nineteenth century. The main finding is that shareholder constituencies did not deteriorate in quality until the introduction of limited liability. The non-deterioration of constituencies is attributed to bank deeds which locked in the aggregate quality of shareholder constituencies by empowering directors to vet all share transfers.

The diversification and financial performance of US credit unions

For US credit unions, revenue from non-interest sources has increased significantly in recent years. We investigate the impact of revenue diversification on financial performance for the period 1993–2004. The impact of a change in strategy that alters the share of non-interest income is decomposed into a direct exposure effect, reflecting the difference between interest and non-interest bearing activities, and an indirect exposure effect which reflects the effect of the institution’s own degree of diversification. On both risk-adjusted and unadjusted returns measures, a positive direct exposure effect is outweighed by a negative indirect exposure effect for all but the largest credit unions. This may imply that similar diversification strategies are not appropriate for large and small credit unions. Small credit unions should eschew diversification and continue to operate as simple savings and loan institutions, while large credit unions should be encouraged to exploit new product opportunities around their core expertise.

Genuine savings and future well-being in Germany, 1850-2000

Genuine Savings (GS), also known as ‘net adjusted savings’, is a composite indicator of the sustainability of economic development. Genuine Savings reflects year-on-year changes in the total wealth or capital of a country, including net investment in produced capita, investment in human capital, depletion of natural resources, and damage caused by pollution. A negative Genuine Savings rate suggests that the stock of national wealth is declining and that future utility must be less than current utility, indicating that economic development is non-sustainable (Hamilton and Clemens, 1999). We make use of data over a 150 year period to examine the relationship between Genuine Savings and a number of indicators of well-being over time, and compare the relative changes in human, produced, and components of natural capital over the period. Overall, we find that the magnitude of genuine savings is positively related to changes in future consumption, with some evidence of a cointegrating relationship. However, the relationships between genuine savings and infant mortality or average heights are less clear.

Cross-Industry Product Diversification and Contagion in Risk and Return: The Case of Bank-Insurance and Insurance-Bank Takeovers

We investigate the impact of domestic/international bancassurance deals on the risk-return profiles of announcing and non-announcing banks and insurers within a GARCH model. Bank-insurance deals produce intra- and inter-industry contagion in both risk and return, with larger deals producing greater contagion. Bidder banks and peers experience positive abnormal returns, with the effects on insurer peers being stronger than those on bank peers. Insurance-bank deals produce insignificant excess returns for bidder and peer insurers and positive valuations for peer banks. Following the deal, the bank bidders’ idiosyncratic (systematic) risk falls (increases), while insurance bidders exhibit a lower systematic risk and maintain their idiosyncratic risk.

A DYNAMIC FRAMEWORK FOR THE RELATIONS BETWEEN FOREIGN EXCHANGE RATES, SAVINGS AND INVESTMENTS

The Meese-Rogoff forecasting puzzle states that foreign exchange (FX) rates are unpredictable. Since one country’s macroeconomic conditions could affect the price of its national currency, we study the dynamic relations between the FX rates and some macroeconomic accounts. Our research tests whether the predictability of the FX rates could be improved through the advanced econometrics. Improving the predictability of the FX rates has important implications for various groups including investors, business entities and the government. The present thesis examines the dynamic relations between the FX rates, savings and investments for a sample of 25 countries from the Organization for Economic Cooperation and Development. We apply quarterly data of FX rates, macroeconomic indices and accounts including the savings and the investments over three decades. Through preliminary Augmented Dickey-Fuller unit root tests and Johansen cointegration tests, we found that the savings rate and the investment rate are cointegrated with the vector (1,-1). This result is consistent with many previous studies on the savings-investment relations and therefore confirms the validity of the Feldstein-Horioka puzzle. Because of the special cointegrating relation between the savings rate and investment rate, we introduce the savings-investment rate differential (SID). Investigating each country through a vector autoregression (VAR) model, we observe extremely insignificant coefficient estimates of the historical SIDs upon the present FX rates. We also report similar findings through the panel VAR approach. We thus conclude that the historical SIDs are useless in forecasting the FX rate. Nonetheless, the coefficients of the past FX rates upon the current SIDs for both the country-specific and the panel VAR models are statistically significant. Therefore, we conclude that the historical FX rates can conversely predict the SID to some degree. Specifically, depreciation in the domestic currency would cause the increase in the SID.

Indenture of assignment of mortgage between Executors of the Zimmerman Estate and the Bank of Upper Canada

Indenture of assignment of mortgage between Executors of the Zimmerman Estate and the Bank of Upper Canada regarding Lot no. 4 in block O in the Town of Elgin – instrument no. 6360, May 14, 1858.

Federal Constitutionalism and Aboriginal Difference

The author outlines a new legal approach, which he labels federal constitutionalism, to the question of aboriginal difference in Canada. This approach has the potential to open up more fruitful avenues for the resolution of aboriginal law issues than either the “frozen rights” approach currently adopted by the Supreme Court of Canada or the treaty federalism approach, which posits that treaties should be used to resolve all differences between aboriginals and non-aboriginals. The author outlines the difficulties inherent in both the frozen rights and treaty federalism approaches. Federal constitutionalism, in contrast, draws its vitality from an organic understanding of Canada’s constitutional experience. It would allow aboriginal peoples to be seen as federal actors who have historically shaped the Canadian federation. Federal constitutionalism is a multi-faceted approach that would permit aboriginal questions to be addressed using the federal principle, thereby allowing the legal focus to move away from section 35 of the Constitution Act, 1982. Aboriginal peoples would be able to exercise the rights of sovereignty over their own internal affairs, while individual aboriginals could participate directly in federal and provincial governments without having to proceed through the intermediary of aboriginal representatives. Federal constitutionalism would allow aboriginal peoples a guaranteed sphere of autonomy, while permitting recognition of their historical interdependence with non-aboriginal peoples.