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Book part
Publication date: 1 January 2014

Jinjing Li, Cathal O’Donoghue and Gijs Dekkers

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Handbook of Microsimulation Modelling
Type: Book
ISBN: 978-1-78350-570-8

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Article
Publication date: 10 July 2017

Walid Ben Omrane, Chao He, Zhongzhi Lawrence He and Samir Trabelsi

Forecasting the future movement of yield curves contains valuable information for both academic and practical issues such as bonding pricing, portfolio management, and…

Abstract

Purpose

Forecasting the future movement of yield curves contains valuable information for both academic and practical issues such as bonding pricing, portfolio management, and government policies. The purpose of this paper is to develop a dynamic factor approach that can provide more precise and consistent forecasting results under various yield curve dynamics.

Design/methodology/approach

The paper develops a unified dynamic factor model based on Diebold and Li (2006) and Nelson and Siegel (1987) three-factor model to forecast the future movement yield curves. The authors apply the state-space model and the Kalman filter to estimate parameters and extract factors from the US yield curve data.

Findings

The authors compare both in-sample and out-of-sample performance of the dynamic approach with various existing models in the literature, and find that the dynamic factor model produces the best in-sample fit, and it dominates existing models in medium- and long-horizon yield curve forecasting performance.

Research limitations/implications

The authors find that the dynamic factor model and the Kalman filter technique should be used with caution when forecasting short maturity yields on a short time horizon, in which the Kalman filter is prone to trade off out-of-sample robustness to maintain its in-sample efficiency.

Practical implications

Bond analysts and portfolio managers can use the dynamic approach to do a more accurate forecast of yield curve movements.

Social implications

The enhanced forecasting approach also equips the government with a valuable tool in setting macroeconomic policies.

Originality/value

The dynamic factor approach is original in capturing the level, slope, and curvature of yield curves in that the decay rate is set as a free parameter to be estimated from yield curve data, instead of setting it to be a fixed rate as in the existing literature. The difference range of estimated decay rate provides richer yield curve dynamics and is the key to stronger forecasting performance.

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Managerial Finance, vol. 43 no. 7
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 28 August 2007

Michael C. Sturman

This article reviews the extensive history of dynamic performance research, with the goal of providing a clear picture of where the field has been, where it is now, and…

Abstract

This article reviews the extensive history of dynamic performance research, with the goal of providing a clear picture of where the field has been, where it is now, and where it needs to go. Past research has established that job performance does indeed change, but the implications of this dynamism and the predictability of performance trends remain unresolved. Theories are available to help explain dynamic performance, and although far from providing an unambiguous understanding of the phenomenon, they offer direction for future theoretical development. Dynamic performance research does suffer from a number of methodological difficulties, but new techniques have emerged that present even more opportunities to advance knowledge in this area. From this review, I propose research questions to bridge the theoretical and methodological gaps of this area. Answering these questions can advance both research involving job performance prediction and our understanding of the effects of human resource interventions.

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Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-0-7623-1432-4

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Article
Publication date: 1 June 1997

Jaroslav Mackerle

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the…

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Abstract

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the theoretical as well as practical points of view. The range of applications of FEMs in this area is wide and cannot be presented in a single paper; therefore aims to give the reader an encyclopaedic view on the subject. The bibliography at the end of the paper contains 2,025 references to papers, conference proceedings and theses/dissertations dealing with the analysis of beams, columns, rods, bars, cables, discs, blades, shafts, membranes, plates and shells that were published in 1992‐1995.

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Engineering Computations, vol. 14 no. 4
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 14 October 2009

Pietro De Giovanni

The purpose of this paper is to investigate the state of the art in static and dynamic games (or inter‐firm relationships). This research area has changed significantly…

Abstract

Purpose

The purpose of this paper is to investigate the state of the art in static and dynamic games (or inter‐firm relationships). This research area has changed significantly over the last 25 years through the development of phenomena such as the supply chain and the progressive overcoming of monopolistic and oligopolistic frameworks. By exploring the state of the art in inter‐firm relationships, this paper aims to identify the most suitable research methods to be used by future research in this domain and to highlight the major areas under investigation.

Design/methodology/approach

This research adopts both qualitative and quantitative approaches. The qualitative approach describes the technical differences between static and dynamic methods and gives evidence of their appropriateness when applied to a game. Quantitative analysis transforms some of the information extracted from the qualitative analysis into categorical variables in order to obtain an indication of the major issues still to be addressed.

Findings

The resulting findings identify the extent of the use of static and dynamic modelling in previous research and how their use has changed over time, what resolution methods need to be applied when investigating inter‐firm relationship, what features influence this decision and what research areas still remain unexplored.

Originality/value

The existing literature on the modelling of static and dynamic games lacks an exhaustive review. Several contributions investigate the literature on inter‐firms relationships and review numerous issues, but focus only on static or dynamic modelling. This paper fills this gap by reviewing a number of theoretical papers.

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European Business Review, vol. 21 no. 6
Type: Research Article
ISSN: 0955-534X

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Article
Publication date: 2 February 2015

De Zhou, Xiaohua Yu and Thomas Herzfeld

The purpose of this paper is to investigate dynamic food demand in urban China, with use of a complete dynamic demand system – dynamic linear expenditure system-linear…

Abstract

Purpose

The purpose of this paper is to investigate dynamic food demand in urban China, with use of a complete dynamic demand system – dynamic linear expenditure system-linear approximate dynamic almost ideal demand system (DLES-LA/DAIDS), which pushes forward the techniques of demand analysis.

Design/methodology/approach

The authors employ a transitionary demand process and develop a new approach of complete demand system with a two-stage dynamic budgeting: a strongly separable DLES in the first stage and a LA/DAIDS in the second stage. Employing provincial aggregate data (1995-2010) from the China urban household surveys, The authors estimated the demand elasticities for primary food products in urban China.

Findings

The results indicate that most primary food products are necessities and price inelastic for urban households in China. The authors also found that the dynamic model tends to yield relatively smaller expenditure elasticities in magnitude than the static models do due to the friction effect of dynamic adjusting costs, such as habit formation, switching costs, and learning process. However, the dynamic effects on own price elasticities are inconclusive due to the add-up restriction.

Practical implications

The research contributes to the demand analysis methodologically, and can be used for better projections in policy simulation models.

Originality/value

This paper methodologically relaxes the restrictive assumption of instant adjustment in static models and allows consumers to make a dynamic decision in food consumption. Empirically, the authors introduce a new complete dynamic demand model and carry out a case study with the use of urban household data in China.

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China Agricultural Economic Review, vol. 7 no. 1
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 1 September 2021

Vishal Raul and Leifur Leifsson

The purpose of this work is to investigate the similarity requirements for the application of multifidelity modeling (MFM) for the prediction of airfoil dynamic stall…

Abstract

Purpose

The purpose of this work is to investigate the similarity requirements for the application of multifidelity modeling (MFM) for the prediction of airfoil dynamic stall using computational fluid dynamics (CFD) simulations.

Design/methodology/approach

Dynamic stall is modeled using the unsteady Reynolds-averaged Navier–Stokes equations and Menter's shear stress transport turbulence model. Multifidelity models are created by varying the spatial and temporal discretizations. The effectiveness of the MFM method depends on the similarity between the high- (HF) and low-fidelity (LF) models. Their similarity is tested by computing the prediction error with respect to the HF model evaluations. The proposed approach is demonstrated on three airfoil shapes under deep dynamic stall at a Mach number 0.1 and Reynolds number 135,000.

Findings

The results show that varying the trust-region (TR) radius (λ) significantly affects the prediction accuracy of the MFM. The HF and LF simulation models hold similarity within small (λ ≤ 0.12) to medium (0.12 ≤ λ ≤ 0.23) TR radii producing a prediction error less than 5%, whereas for large TR radii (0.23 ≤ λ ≤ 0.41), the similarity is strongly affected by the time discretization and minimally by the spatial discretization.

Originality/value

The findings of this work present new knowledge for the construction of accurate MFMs for dynamic stall performance prediction using LF model spatial- and temporal discretization setup and the TR radius size. The approach used in this work is general and can be used for other unsteady applications involving CFD-based MFM and optimization.

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Engineering Computations, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 28 October 2021

Ce Rong, Zhongbo He, Guangming Xue, Guoping Liu, Bowen Dai and Zhaoqi Zhou

Owing to the excellent performance, giant magnetostrictive materials (GMMs) are widely used in many engineering fields. The dynamic Jiles–Atherton (J-A) model, derived…

Abstract

Purpose

Owing to the excellent performance, giant magnetostrictive materials (GMMs) are widely used in many engineering fields. The dynamic Jiles–Atherton (J-A) model, derived from physical mechanism, is often used to describe the hysteresis characteristics of GMM. However, this model, despite cited by many different literature studies, seems not to possess unique expressions, which may cause great trouble to the subsequent application. This paper aims to provide the rational expressions of the dynamic J-A model and propose a numerical computation scheme to obtain the model results with high accuracy and fast speed.

Design/methodology/approach

This paper analyzes different published papers and provides a reasonable form of the dynamic J-A model based on functional properties and physical explanations. Then, a numerical computation scheme, combining the Newton method and the explicit Adams method, is designed to solve the modified model. In addition, the error source and transmission path of the numerical solution are investigated, and the influence of model parameters on the calculation error is explored. Finally, some attempts are made to study the influence of numerical scheme parameters on the accuracy and time of the computation process. Subsequently, an optimization procedure is proposed.

Findings

A rational form of the dynamic J-A model is concluded in this paper. Using the proposed numerical calculation scheme, the maximum calculation error, while computing the modified model, can remain below 2 A/m under different model parameter combinations, and the computation time is always less than 0.5 s. After optimization, the calculation speed can be enhanced with the computation accuracy guaranteed.

Originality/value

To the best of the authors’ knowledge, this paper is the first one trying to provide a rational form of the dynamic J-A model among different citations. No other research studies focus on designing a detailed computation scheme targeting the fast and accurate calculation of this model as well. And the performance of the proposed calculation method is validated in different conditions.

Details

Engineering Computations, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 8 March 2011

Nuria Rosillo, Angel Valera, Francesc Benimeli, Vicente Mata and Francisco Valero

The purpose of this paper is to present the development and validation of a methodology which allows modeling and solving the inverse and direct dynamic problem in real…

Abstract

Purpose

The purpose of this paper is to present the development and validation of a methodology which allows modeling and solving the inverse and direct dynamic problem in real time in robot manipulators.

Design/methodology/approach

The robot dynamic equation is based on the Gibbs‐Appell equation of motion, yielding a well‐structured set of equations that can be computed in real time. This paper deals with the implementation and calculation of the inverse and direct dynamic problem in robots, with an application to the real‐time control of a PUMA 560 industrial robot provided with an open control architecture based on an industrial personal computer.

Findings

The experimental results show the validity of the dynamic model and that the proposed resolution method for the dynamic problem in real time is suitable for control purposes.

Research limitations/implications

The accuracy of the applied friction model determines the accuracy of the identified overall model and consequently of the control. This is especially obvious in the case of the PUMA 560 robot, in which the presence of friction is remarkable in some of their joints. Hence, future work should focus on identifying a more precise friction model. The robot model could also be extended by incorporating rotor dynamics and could be applied for different robot configurations as parallel robots.

Originality/value

Gibbs‐Appell equations are used in order to develop the robotic manipulator dynamic model, instead of more usual dynamics formulations, due to several advantages that these exhibit. The obtained non‐physical identified parameters are adapted in order to enable their use in a control algorithm.

Details

Industrial Robot: An International Journal, vol. 38 no. 2
Type: Research Article
ISSN: 0143-991X

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Book part
Publication date: 6 September 2021

Rachel M. Saef, Emorie Beck and Joshua J. Jackson

Our theoretical understanding of subjective well-being in the workplace is incomplete without a dynamic understanding of antecedents and outcomes of subjective well-being…

Abstract

Our theoretical understanding of subjective well-being in the workplace is incomplete without a dynamic understanding of antecedents and outcomes of subjective well-being. While between-person differences provide useful information about employee outcomes, these differences do not provide information about the relationships between subjective well-being and employee outcomes that evolve over time and across situations. In this paper, we discuss specific statistical methods within the nomothetic and idiographic perspectives that can support dynamic research on subjective well-being in the workplace and outline unanswered contemporary questions regarding structure, processes, and dynamics of subjective well-being that may be addressed with these methods reviewed; some of which were proposed in early research but progressed slowly due to a lack of adequate methods. This discussion highlights how idiographic methods from outside organizational psychology can be applied to the study of worker subjective well-being to strengthen this dynamic approach in a way that addresses limitations associated with reliance on between-person models.

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Examining and Exploring the Shifting Nature of Occupational Stress and Well-Being
Type: Book
ISBN: 978-1-80117-422-0

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