New variable step-sizes minimizing mean-square deviation for the lms-type algorithms

The least-mean-square-type (LMS-type) algorithms are known as simple and effective adaptation algorithms. However, the LMS-type algorithms have a trade-off between the convergence rate and steady-state performance. In this paper, we investigate a new variable step-size approach to achieve fast convergence rate and low steady-state misadjustment. By approximating the optimal step-size that minimizes the mean-square deviation, we derive variable step-sizes for both the time-domain normalized LMS (NLMS) algorithm and the transform-domain LMS (TDLMS) algorithm. The proposed variable step-sizes are simple quotient forms of the filtered versions of the quadratic error and very effective for the NLMS and TDLMS algorithms. The computer simulations are demonstrated in the framework of adaptive system modeling. Superior performance is obtained compared to the existing popular variable step-size approaches of the NLMS and TDLMS algorithms. © 2014 Springer Science+Business Media New York.

Volatility dynamics in the term structure of Latin American sovereign international bonds

We examine the nature of volatility dynamics in the term structure of sovereign bonds issued in international markets by major Latin American countries. Focusing only on the U.S. dollar-denominated sovereign international bonds, this study shows the heterogeneous nature of volatility effects that affect the term structure of individual countries in Latin America. Considering the significance of the Argentine credit event in the region, we also account for any change in dynamics following the Argentine default in 2001 by subsampling the pre- and postdefault windows. We also find some evidence of liquidity-driven volatility interaction in the term structure.

Unlawful acts, unkind architecture and unhelpful perceptions: a case study of Market Square Mall, Geelong

On a quiet Sunday afternoon in January 2015, a 12 year old girl was assaulted in Geelong’s Market Square mall. The attack sparked a media furore over what should be done to address the ongoing safety and amenity issues of this intractable public space. The city’s mayor, Cr Darryn Lyons, responded to the situation by declaring the mall a ‘haunt for bogans and scumbags’ and renewed calls for its demolition. Such rhetoric highlights the exclusionary mindset that casts certain types of people as undesirable inhabitants of public spaces. It also bolsters negative public perceptions of the mall. Once formed, such attitudes are difficult to shift, despite an overall improvement in the area’s crime rates over recent years. Poor perceptions are further reinforced by the soulless nature of the mall’s built fabric and weak urban interfaces. Its formal language is one of hostility, not only towards would-be delinquents, but to all people. The space is furnished with cold stainless steel seats, CCTV cameras and limp, pavement water spouts, while its inactive edges consist of loading bays, security grilles and neglected facades. This paper considers how a more inclusive architecture might be utilised to create a kinder, more generous physical environment that reflects the public nature of the space. While not a quick fix, fostering an architecture that encourages a more equitable use of the mall may diminish the sense of fear, anxiety and suspicion that the space currently elicits, tackling the problem at both a structural and social level.

The misanthropes, larrikins and mallrats of market square: an enduring public space dilemma in central Geelong

Market Square was a public reserve located in the centre of the Victorian regional city of Geelong. It was established by Governor Sir George Gipps during the initial surveying of the area in 1838. The square later became a produce market, before being progressively built upon for public and commercial purposes. Today, the modern Market Square Shopping Centre occupies a substantial portion of the original site. Opened in 1985 by the City of Geelong, the complex initially drew high rental incomes for the Council. However, by the early 1990s revenue began to decline after the collapse of the Pyramid Building Society and competition from the new Bay City Plaza shopping centre (now Westfield) that was built directly opposite. In 1993 the city council decided to sell the complex. Today it remains privately owned and while it adjoins the Little Malop Street Mall which was also part of the original public square, its connection with the surrounding urban environment is poor. The introverted architectural nature of Geelong’s two large retail shopping complexes has significantly altered the city’s spatial dynamic. The traditional intimate urban structure and streetscape has been fragmented. This has led to a deterioration of the city’s social cohesion, sense of place and economic prosperity. This paper chronicles the myriad errors of judgement by the institution of local government that have contributed to this situation. Heeding past mistakes, it explores ways in which the Council might work with private landowners to improve the permeability of the city’s public urban spaces and internalised retail centres for improved use, integration, functionality and resilience. Achieving a shared culture of concern for the city’s urban fabric presents some significant challenges. How might ‘big box’ shopping centres be reconsidered to make a positive contribution to the city’s urban spatial network while remaining commercially viable? The built environment has an important role to play in addressing the problem by presenting opportunities for these new urban institutions to also benefit from stronger connections between the public and private realm.

A square peg in a round hole? Approaches to incorporating lifestyle counselling into routine primary health care

Few studies have explored how lifestyle counselling can be integrated into routine practice for primary health care (PHC) clinicians working outside general practice. This paper describes the feasibility of models of lifestyle counselling developed for PHC clinicians working in community health services and the congruence with routine practice. Action research methods were used to develop and implement models of lifestyle counselling in three community health teams. Following a six-month implementation period, semi-structured interviews were conducted with a purposeful sample of participants (n = 30) to explore the appropriateness of implementing risk factor management models in practice. Models were considered appropriate if they fitted the clinician’s philosophy of practice, were relevant to existing work tasks, could easily be integrated into workflow and were perceived as being acceptable to the client. The approach to service delivery and team priorities were also important in influencing which models suited particular teams. Models of lifestyle counselling for PHC clinicians outside general practice should be tailored to the clinicians’ and teams’ way of working and thus may need to be discipline-specific. Engaging PHC clinicians and teams is important in developing models that are acceptable and feasible in everyday practice.

Strength reduction in square columns confined with CFRP under marine environment

The performance of carbon fibre reinforced polymer (CFRP) wrapped square column under the wet/dry cycle of marine environment is studied in this paper. Two different types of epoxies (one commercial and one modified) are used to bond CFRP with concrete to investigate their suitability under the harsh environmental exposure. The experimental results are verified against the available theoretical models of square column and a reduction factor is derived to incorporate the effect of marine exposure to estimate the strength reduction for the columns in general. The accuracy of the proposed reduction factor is then verified by predicting the degraded strength of the columns which are currently available in the literature.

Consumption smoothing in Latin America: an empirical assessment of present value models

The study aims to assess the empirical adherence of the permanent income theory and the consumption smoothing view in Latin America. Two present value models are considered, one describing household behavior and the other open economy macroeconomics. Following the methodology developed in Campbell and Schiller (1987), Bivariate Vector Autoregressions are estimated for the saving ratio and the real growth rate of income concerning the household behavior model and for the current account and the change in national cash ‡ow regarding the open economy model. The countries in the sample are considered separately in the estimation process (individual system estimation) as well as jointly (joint system estimation). Ordinary Least Squares (OLS) and Seemingly Unrelated Regressions (SURE) estimates of the coe¢cients are generated. Wald Tests are then conducted to verify if the VAR coe¢cient estimates are in conformity with those predicted by the theory. While the empirical results are sensitive to the estimation method and discount factors used, there is only weak evidence in favor of the permanent income theory and consumption smoothing view in the group of countries analyzed.

Trade and poverty in latin american countries: conceptual and methodological challenges

This paper addresses topics - either relevant or confusing or needing more attention - related to measuring the trade and poverty nexus. It sheds a critical light on the existing material and suggests needed research lines. It starts with questions akin to the LAC realities; then, keeping this view, general methodological issues are also examined. In a broader perspective, further ideas for the research agenda are formulated. The main conclusion is that relevant findings still demand considerable efforts. Moreover, the Information-measurement-model-evaluation paradigm is not enough, policy guidelines being usually too general. In LAC, it must be extended and deepened, accounting more for the heterogeneity of cases, including, whenever possible, the physical constraints and incorporating new ways of integrating both the local and global perspectives. Other aspects, like the role of specific juridical measures, should play a role. How all this can be combined into more encompassing evaluations remains open

Past and future of the bankruptcy law in Brazil and Latin America

This paper studies the Bankruptcy Law in Latin America, focusing on the Brazilian reform. We start with a review of the international literature and its evolution on this subject. Next, we examine the economic incentives associated with several aspects of bankruptcy laws and insolvency procedures in general, as well as the trade-offs involved. After this theoretical discussion, we evaluate empirically the current stage of the quality of insolvency procedures in Latin America using data from Doing Business and World Development Indicators, both from World Bank and International Financial Statistics from IMF. We find that the region is governed by an inefficient law, even when compared with regions of lower per capita income. As theoretical and econometric models predict, this inefficiency has severe consequences for credit markets and the cost of capital. Next, we focus on the recent Brazilian bankruptcy reform, analyzing its main changes and possible effects over the economic environment. The appendix describes difficulties of this process of reform in Brazil, and what other Latin American countries can possibly learn from it.

Land taxes in a Latin American context

Since Henry George (1839-1897) economists have been arguing that a tax on unimproved land is an ideal tax on efficiency grounds. Output taxes, on the other hand, have distortionary effects on the economy. This paper shows that under asymmetric information output taxes might be used along with land tax in order to implement an optimal taxation scheme in a Latin American context, i.e., where land rental markets are relatively thin, land property provides non-agricultural payoffs and there is nonrevenue objectives of land taxation. Also, the model has two implications that can be tested empirically: (i) there is evasion when schemes based only on land taxes are implemented; (ii) this evasion is more severe for large landholders.

The evolution of TFP in Latin America

Due to widespread government intervention and import-substitution industrialization, there has been a general perception that Latin America has always been less productive than the leading economies. In this paper, however, we show that until the mid-seventies Latin America had high productivity levels relative to the US and other regions. Moreover, total factor productivity in Latin America increased relative to the US during this period, declining only in the subsequent years.

Housing development in Latin America and the Caribean, its measuring and its determinants

This text briejly describes the Housing Development lndex (HDI). Following a concise introduction on the reasons for this research, HDI's methodology, characteristics, properties and databases supporting its calculation are discussed. Next, the third part presents, analyzes and compares the HDI's figures for Brazil and some other Latin American countries. The part that follows shows HDI figures for all states in Brazil and points out the regional differences and the indicator 's recent growth. Then, this paper analyses the injluence of some social and economic variables on the HDI and, finally, it makes some considerations on HDI.