Search results
1 – 10 of 41Scott M. Mourtgos and Ian T. Adams
Purpose – We investigate the impact of overlapping crises of COVID-19 and the George Floyd protests on one major US police department, focusing on staffing and officer proactivity…
Abstract
Purpose – We investigate the impact of overlapping crises of COVID-19 and the George Floyd protests on one major US police department, focusing on staffing and officer proactivity.
Methodology/Approach – The study investigates the impact of the two crises on operational capacity. Using Bayesian interrupted time-series analysis, the authors investigate if officer proactivity levels were adversely impacted in the short and long terms.
Findings – A statewide stay-at-home order (SAHO) was associated with a sharp decline in proactive contacts, but that effect dissipated quickly. However, the Floyd protests were associated with a sharp decline in proactivity, which persisted throughout the study period.
Originality/Value – The findings of this study contribute to ongoing research agendas that seek to understand the impact of dual, overlapping crises on US police departments and the communities they serve. The authors demonstrate a methodological approach capable of disentangling both crises’ effects on police activity levels.
Details
Keywords
Miguel Jerez, Alejandra Montealegre-Luna and Alfredo Garcia-Hiernaux
The purpose of this paper is to estimate the impact of the 2008 and 2020 economic crises on employment in Spain.
Abstract
Purpose
The purpose of this paper is to estimate the impact of the 2008 and 2020 economic crises on employment in Spain.
Design/methodology/approach
The authors perform a counterfactual analysis, combining intervention (interrupted time series) analysis and conditional forecasting to estimate a “crisis-free” scenario. These counterfactual estimates are used as a synthetic control, to be compared with the observed values of the main variables of the Spanish Labor Force Survey (EPA).
Findings
The authors measure the effect on Spanish employment of the 2008 recession and the ongoing COVID/Ukraine crisis and the speed of recovery, which yields a rigorous dating for the beginning and end of the crises studied. Finally, the authors provide estimates about which part of the employed and unemployed people was in furlough (ERTE) based on microdata provided by the Spanish Institute of Statistics.
Originality/value
To the best of the authors’ knowledge, there are no counterfactual studies covering all the basic variables in EPA and no estimates for the effect of ERTEs on the basic employment variables. Finally, the authors combine well-known intervention and forecasting techniques into an integrated framework to assess the effects of both, past and ongoing crises.
Details
Keywords
Martin Odening and Zhiwei Shen
– The purpose of this paper is to review some challenges of insuring weather risk in agriculture and to discuss potential remedies for these problems.
Abstract
Purpose
The purpose of this paper is to review some challenges of insuring weather risk in agriculture and to discuss potential remedies for these problems.
Design/methodology/approach
The paper is developed as a narrative on weather insurance based largely on existing literature.
Findings
Weather risks show characteristics that often violate classical requirements for insurability. First, some weather risks, particularly slowly emerging weather perils like drought, are spatially correlated and cause systemic risks. Second, climatic change may increase the volatility of weather variables and lead to non-stationary loss distributions, which causes difficulties in actuarial ratemaking. Third, limited availability of yield and weather data hinders the estimation of reliable loss distributions.
Practical implications
Some of the approaches discussed in this review, such as time diversification, local test procedures and the augmentation of observational data by expert knowledge, can be useful for crop insurance companies to improve their risk management and product design.
Originality/value
This study provides background and development information regarding weather insurance and also presents statistical tools and actuarial methods that support the assessment of weather risks as well as the design of weather and yield insurance products.
Details
Keywords
David A. Oloke, David J. Edwards and Tony A. Thorpe
Construction plant breakdown affects projects by prolonging duration and increasing costs. Therefore, prediction of plant breakdown, as a precursor to conducting timely…
Abstract
Construction plant breakdown affects projects by prolonging duration and increasing costs. Therefore, prediction of plant breakdown, as a precursor to conducting timely maintenance works, cannot be underestimated. This paper thus sought to develop a model for predicting plant breakdown time from a sequence of discrete plant breakdown measurements that follow non‐random orders. An ARIMA (1,1,0) model was constructed following experimentation with exponential smoothening. The model utilised breakdown observations obtained from six wheeled loaders that had operated a total of 14,467 hours spread over a 300‐week period. The performance statistics revealed MAD and RMSE of 5.03 and 5.33 percent respectively illustrating that the derived time series model is accurate in modelling the dependent variable. Also, the F‐statistics from the ANOVA showed that the type and frequency of fault occurrence as a predictor variable is significant on the model's performance at the five percent level. Future work seeks to consider a more in depth multivariate time series analyses and compare/contrast the results of such against other deterministic modelling techniques.
Details
Keywords
The purpose of this paper is to develop an approach that can detect abnormal deviations in the time series models for technology forecasting. The detected modifications provide a…
Abstract
Purpose
The purpose of this paper is to develop an approach that can detect abnormal deviations in the time series models for technology forecasting. The detected modifications provide a basis for understanding the determinants and impact of the corresponding change.
Design/methodology/approach
The proposed approach is based on monitoring residual values (the difference between the observation and the forecasted value) continuously using statistical control charts (SCCs). The residuals that are out of the expected limits are considered an alert indicating a remarkable change. To demonstrate the use of the proposed approach, a time series model was fitted to a number of TV-related patent counts. Subsequently, model residuals were used to determine the limits of the SCCs.
Findings
A number of patents granted in the year 2012 violated the upper control limit. A further analysis has shown that there is a linkage between the abnormal patent counts and the emergence of LCD TVs.
Practical implications
Change in technology may dramatically affect the accuracy of a forecasting model. The need for a parameter update indicates a significant change (emergence or death of a technology) in the technological environment. This may lead to the revision of managerial actions in R&D plans and investment decisions.
Originality/value
The proposed methodology brings a novel approach for abnormal data detection and provides a basis for understanding the determinants and impact of the corresponding change.
Details
Keywords
David Oloke, David J. Edwards, Bruce Wright and Peter E.D. Love
Effective management and utilisation of plant history data can considerably improve plant and equipment performance. This rationale underpins statistical and mathematical models…
Abstract
Effective management and utilisation of plant history data can considerably improve plant and equipment performance. This rationale underpins statistical and mathematical models for exploiting plant management data more efficiently, but industry has been slow to adopt these models. Reasons proffered for this include: a perception of models being too complex and time consuming; and an inability of their being able to account for dynamism inherent within data sets. To help address this situation, this research developed and tested a web‐based data capture and information management system. Specifically, the system represents integration of a web‐enabled relational database management system (RDBMS) with a model base management system (MBMS). The RDBMS captures historical data from geographically dispersed plant sites, while the MBMS hosts a set of (Autoregressive Integrated Moving Average – ARIMA) time series models to predict plant breakdown. Using a sample of plant history file data, the system and ARIMA predictive capacity were tested. As a measure of model error, the Mean Absolute Deviation (MAD) ranged between 5.34 and 11.07 per cent for the plant items used in the test. The Root Mean Square Error (RMSE) values also showed similar trends, with the prediction model yielding the highest value of 29.79 per cent. The paper concludes with direction for future work, which includes refining the Graphical User Interface (GUI) and developing a Knowledge Based Management System (KBMS) to interface with the RDBMS.
Details
Keywords
Robert Fildes and Charles Beard
Quantitative forecasting techniques see their greatest applicationas part of production and inventory systems. Perhaps unfortunately, theproblem has been left to systems analysts…
Abstract
Quantitative forecasting techniques see their greatest application as part of production and inventory systems. Perhaps unfortunately, the problem has been left to systems analysts while the professional societies have contented themselves with exhortations to improve forecasting, neglecting recent developments from forecasting research. However, improvements in accuracy have a direct and often substantial financial impact. This article shows how the production and inventory control forecasting problem differs from other forecasting applications in its use of information and goes on to consider the characteristics of inventory type data. No single forecasting method is suited to all data series and the article then discusses how recent developments in forecasting methodology can improve accuracy. Considers approaches to extending the database beyond just the time‐series history of the data series. Concludes with a discussion of an “ideal” forecasting system and how far removed many popular programs used in production and inventory control are from this ideal.
Details
Keywords
Vicente Esteve and María A. Prats
This paper aims to analyze the dynamics of the Spanish public debt–gross domestic product ratio during the period 1850–2020.
Abstract
Purpose
This paper aims to analyze the dynamics of the Spanish public debt–gross domestic product ratio during the period 1850–2020.
Design/methodology/approach
This study uses a recent procedure to test for recurrent explosive behavior (Phillips et al., 2011; Phillips et al., 2015a, 2015b) to identify episodes of explosive public debt dynamics and also the episodes of fiscal adjustments over this long period.
Findings
The identified episodes of explosive behavior of public debt coincided with fiscal stress events, whereas fiscal adjustments and changes in economic policies stabilized public finances after periods of explosive dynamics of public debt.
Originality/value
The longer than usual span of the data should allow the authors to obtain some more robust results than in most of previous analyses of long-run sustainability.
Details
Keywords
Hervé Stolowy and Gaétan Breton
Accounts manipulation has been the subject of research, discussion and even controversy in several countries including the USA, Canada, the U.K., Australia, Finland and France…
Abstract
Accounts manipulation has been the subject of research, discussion and even controversy in several countries including the USA, Canada, the U.K., Australia, Finland and France. The objective of this paper is to provide a comprehensive review of the literature and propose a conceptual framework for accounts manipulation. This framework is based on the possibility of wealth transfer between the different stake‐holders, and in practice, the target of the manipulation appears generally to be the earnings per share and the debt/equity ratio. The paper also describes the different actors involved and their potential gains and losses. We review the literature on the various techniques of accounts manipulation: earnings management, income smoothing, big bath accounting, creative accounting, and window‐dressing. The various definitions of all these, the main motivations behind their application and the research methodologies used are all examined. This study reveals that all the above techniques have common elements, but there are also important differences between them.