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Article
Publication date: 15 September 2023

Gerrio Barbosa, Daniel Sousa, Cássio da Nóbrega Besarria, Robson Lima and Diego Pitta de Jesus

The aim of this study was to determine if there are asymmetries in the pass-through of West Texas Intermediate (WTI) crude oil prices to its derivatives (diesel and gasoline) in…

Abstract

Purpose

The aim of this study was to determine if there are asymmetries in the pass-through of West Texas Intermediate (WTI) crude oil prices to its derivatives (diesel and gasoline) in the Brazilian market.

Design/methodology/approach

Initially, the future WTI oil price series was analyzed using the self-exciting threshold autoregressive (SETAR) and logistic smooth transition autoregressive (LSTAR) non-linear models. Subsequently, the threshold autoregressive error-correction model (TAR-ECM) and Markov-switching model were used.

Findings

The findings indicated high prices throughout 2008 due to the subprime crisis. The findings indicated high prices throughout 2008 due to the subprime crisis. The results indicated that there is long-term pass-through of oil prices in both methods, suggesting an equilibrium adjustment in the prices of diesel and gasoline in the analyzed period. Regarding the short term, the variations in contemporary crude oil prices have positive effects on the variations in fuel prices. Lastly, this behavior can partly be explained by the internal price management structure adopted during almost all of the analyzed period.

Originality/value

This paper contributes to the literature at some points. The first contribution is the modeling of the oil price series through non-linear models, further enriching the literature on the recent behavior of this time series. The second is the simultaneous use of the TAR-ECM and Markov-switching model to capture possible short- and long-term asymmetries in the pass-through of prices, as few studies have applied these methods to the future price of oil. The third and main contribution is the investigation of whether there are asymmetries in the transfer of oil prices to the price of derivatives in Brazil. So far, no work has investigated this issue, which is very relevant to the country.

Details

Journal of Economic Studies, vol. 51 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 22 March 2024

Achille Augustin Diendere and Sansan Ali Bepounte Dah

Effective agricultural product price regulation policies depend on market integration and the degree of symmetry in the transmission of agricultural product price signals. This…

Abstract

Purpose

Effective agricultural product price regulation policies depend on market integration and the degree of symmetry in the transmission of agricultural product price signals. This study analyzes the transmission and asymmetry of the price series between the Ouagadougou consumer market and assembly markets considering three primary cereal products in Burkina Faso.

Design/methodology/approach

This study applies the nonlinear autoregressive distributed lag (NARDL) econometric model, which is an asymmetric extension of the ARDL cointegration model. The price series examined covers the period extending from January 2005 to December 2020.

Findings

Our analysis provides novel insights regarding short- and long-term asymmetric effects in the transmission of price signals between assembly markets and the consumer market. We also determine that the effects of negative shocks are more persistent than those of positive shocks in several markets.

Research limitations/implications

For markets that exhibit symmetrical responses of assembly market prices to consumer market prices, the results could reflect the continuous efforts of market players, particularly the government, to eliminate market failures and ensure the long-term efficiency of cereal markets. To this end, an agricultural market information system can have a crucial role in easing information access for all market players.

Originality/value

This study provides new evidence regarding the nature of the transmission and asymmetry of price information on primary cereal products in the largest markets in Burkina Faso. Applying the NARDL model makes it possible to simultaneously estimate short- and long-term asymmetry.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

Open Access
Article
Publication date: 29 April 2024

Dada Zhang and Chun-Hsing Ho

The purpose of this paper is to investigate the vehicle-based sensor effect and pavement temperature on road condition assessment, as well as to compute a threshold value for the…

Abstract

Purpose

The purpose of this paper is to investigate the vehicle-based sensor effect and pavement temperature on road condition assessment, as well as to compute a threshold value for the classification of pavement conditions.

Design/methodology/approach

Four sensors were placed on the vehicle’s control arms and one inside the vehicle to collect vibration acceleration data for analysis. The Analysis of Variance (ANOVA) tests were performed to diagnose the effect of the vehicle-based sensors’ placement in the field. To classify road conditions and identify pavement distress (point of interest), the probability distribution was applied based on the magnitude values of vibration data.

Findings

Results from ANOVA indicate that pavement sensing patterns from the sensors placed on the front control arms were statistically significant, and there is no difference between the sensors placed on the same side of the vehicle (e.g., left or right side). A reference threshold (i.e., 1.7 g) was computed from the distribution fitting method to classify road conditions and identify the road distress based on the magnitude values that combine all acceleration along three axes. In addition, the pavement temperature was found to be highly correlated with the sensing patterns, which is noteworthy for future projects.

Originality/value

The paper investigates the effect of pavement sensors’ placement in assessing road conditions, emphasizing the implications for future road condition assessment projects. A threshold value for classifying road conditions was proposed and applied in class assignments (I-17 highway projects).

Details

Built Environment Project and Asset Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 8 December 2022

Idris Abdullahi Abdulqadir

This study aims to examine the nexuses between economic growth, trade openness, renewable energy consumption and environmental degradation among organization of petroleum…

Abstract

Purpose

This study aims to examine the nexuses between economic growth, trade openness, renewable energy consumption and environmental degradation among organization of petroleum exporting countries (OPEC) members over the period 1990–2019.

Design/methodology/approach

The empirical strategy for the study includes dynamic heterogeneous panel pooled mean group (PMG), mean group (MG) estimators and dynamic panel threshold regression (TR) analysis. For clarity, PMG and MG are used to explore the long-run relationship between the variables, whereas TR is used to uncover the actionable and complementary policy thresholds in the nexuses between green growth and environmental degradation.

Findings

The empirical evidence is based on the significant estimates from PMG and TR. First, using PMG, the study finding revealed a long-run relationship between economic growth and environmental degradation via the PMG estimator. Second, using TR, the study revealed an actionable threshold for carbon dioxide emissions (CO2) metrics tons per capita (mtpc) not beyond a critical mass of 4.88mtpc, and the complementary policy threshold of 85% of the share of trade to gross domestic product, respectively.

Research limitations/implications

The policy relevance of the thresholds is apparent to policymakers in the cartel and for policy formulation. The policy implication of this study is straightforward.

Originality/value

The novelty of this study stalk in the extant literature on providing policymakers with an actionable threshold for CO2 emissions with the corresponding complementary threshold for trade policies in the nexuses between green growth and the environment.

Details

International Journal of Energy Sector Management, vol. 17 no. 6
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 28 June 2023

Ahmet Esat Süzer and Hakan Oktal

The main aim of this study is to elaborately examine the error correction technology for global navigation satellite system (GNSS) navigation messages and to draw a conceptual…

Abstract

Purpose

The main aim of this study is to elaborately examine the error correction technology for global navigation satellite system (GNSS) navigation messages and to draw a conceptual decision support framework related to the modernization of the GNSS and other systems.

Design/methodology/approach

The extensive simulation model developed in Matrix Laboratory (MATLAB) is used to evaluate the performance of forward error correction (FEC) codes such as Hamming, Bose–Chaudhuri–Hocquenghem, convolutional, turbo, low-density parity check (LDPC) and polar codes under different levels of noise.

Findings

The performance and robustness of the aforementioned algorithms are compared based on the bit length, complexity and execution time of the GNSS navigation message. In terms of bit error rate, LDPC coding exhibits more ability in the robustness of the navigation message, while polar code gives better results according to the execution time.

Practical implications

In view of future new GNSS signals and message design, the findings of this paper may provide significant insight into navigation message modernization and design as an important part of GNSS modernization.

Originality/value

To the best of the authors’ knowledge, this is the first study that conducts a direct comparison of various FEC algorithms on GNSS navigation message performance against noise, taking into consideration turbo and newly developed polar codes.

Details

Aircraft Engineering and Aerospace Technology, vol. 95 no. 8
Type: Research Article
ISSN: 1748-8842

Keywords

Article
Publication date: 20 November 2023

Souleymane Diallo and Youmanli Ouoba

The underdevelopment of the financial sector could be one of the barriers to the deployment of renewable energies in developing countries. The purpose of this paper is therefore…

Abstract

Purpose

The underdevelopment of the financial sector could be one of the barriers to the deployment of renewable energies in developing countries. The purpose of this paper is therefore to analyse the effect of financial development in the deployment of renewable energies in sub-Saharan African countries.

Design/methodology/approach

The empirical analysis is based on a production approach and a cross-sectionally augmented autoregressive distributive lag error correction model estimate for 25 sub-Saharan African countries over the period 1990–2018. The augmented mean group (AMG) and common correlated effects mean group (CCEMG) estimators were used for the robustness analysis.

Findings

Two results emerge: financial development contributes positively to renewable energy deployment in sub-Saharan African countries in the short and long run; and fossil fuel dependence impedes significantly renewable energy deployment in the short and long run. The robustness analyses using the AMG and CCEMG methods confirm these results.

Practical implications

These results suggest the need for policies to support and strengthen the development of the financial sector to improve its ability to effectively finance investments in renewable energy technologies.

Originality

The originality of this paper lies in the fact that the analysis is based on a renewable energy production approach. Indeed, the level of renewable energy deployment is measured by the production and not the consumption of renewable energy, unlike other previous work. In addition, this research uses recent econometric estimation techniques that overcome the problems of cross-sectional dependence and slope heterogeneity.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 17 November 2023

Richard Amoatey, Richard K. Ayisi and Eric Osei-Assibey

The purpose of this study is twofold. First, to estimate an optimal inflation rate for Ghana and second, to investigate factors that account for the differences between observed…

Abstract

Purpose

The purpose of this study is twofold. First, to estimate an optimal inflation rate for Ghana and second, to investigate factors that account for the differences between observed and target inflation.

Design/methodology/approach

The paper explored the questions within two econometric frameworks, the Autoregressive Distributed Lag (ARDL) and Threshold Regression Models using data spanning the period 1965–2019.

Findings

The study estimated a range of 5–7% optimal inflation for Ghana. While this confirms the single-digit inflation targeting by the Bank of Ghana, the range is lower than the central bank's band of 6–10%. The combined behaviours of the central bank, banks and external outlook influence inflation target misses.

Practical implications

The study urges the central bank to continue pursuing its single-digit inflation targeting. However, it implies that there is still room for the Bank to further lower the current inflation band to achieve an optimal outcome on growth and welfare. Again, the Bank should commit to increased transparency and accountability to enhance its credibility in attaining the targeted inflation.

Originality/value

The study is one of the first attempts in Africa in Ghana to estimate an optimal inflation target and investigate the underlying factors for deviation from the targets.

Details

African Journal of Economic and Management Studies, vol. 15 no. 1
Type: Research Article
ISSN: 2040-0705

Keywords

Article
Publication date: 7 April 2023

Sixing Liu, Yan Chai, Rui Yuan and Hong Miao

Simultaneous localization and map building (SLAM), as a state estimation problem, is a prerequisite for solving the problem of autonomous vehicle motion in unknown environments…

Abstract

Purpose

Simultaneous localization and map building (SLAM), as a state estimation problem, is a prerequisite for solving the problem of autonomous vehicle motion in unknown environments. Existing algorithms are based on laser or visual odometry; however, the lidar sensing range is small, the amount of data features is small, the camera is vulnerable to external conditions and the localization and map building cannot be performed stably and accurately using a single sensor. This paper aims to propose a laser three dimensions tightly coupled map building method that incorporates visual information, and uses laser point cloud information and image information to complement each other to improve the overall performance of the algorithm.

Design/methodology/approach

The visual feature points are first matched at the front end of the method, and the mismatched point pairs are removed using the bidirectional random sample consensus (RANSAC) algorithm. The laser point cloud is then used to obtain its depth information, while the two types of feature points are fed into the pose estimation module for a tightly coupled local bundle adjustment solution using a heuristic simulated annealing algorithm. Finally, the visual bag-of-words model is fused in the laser point cloud information to establish a threshold to construct a loopback framework to further reduce the cumulative drift error of the system over time.

Findings

Experiments on publicly available data sets show that the proposed method in this paper can match its real trajectory well. For various scenes, the map can be constructed by using the complementary laser and vision sensors, with high accuracy and robustness. At the same time, the method is verified in a real environment using an autonomous walking acquisition platform, and the system loaded with the method can run well for a long time and take into account the environmental adaptability of multiple scenes.

Originality/value

A multi-sensor data tight coupling method is proposed to fuse laser and vision information for optimal solution of the positional attitude. A bidirectional RANSAC algorithm is used for the removal of visual mismatched point pairs. Further, oriented fast and rotated brief feature points are used to build a bag-of-words model and construct a real-time loopback framework to reduce error accumulation. According to the experimental validation results, the accuracy and robustness of the single-sensor SLAM algorithm can be improved.

Details

Industrial Robot: the international journal of robotics research and application, vol. 50 no. 6
Type: Research Article
ISSN: 0143-991X

Keywords

Article
Publication date: 16 April 2024

Przemysław G. Hensel and Agnieszka Kacprzak

Replication is a primary self-correction device in science. In this paper, we have two aims: to examine how and when the results of replications are used in management and…

Abstract

Purpose

Replication is a primary self-correction device in science. In this paper, we have two aims: to examine how and when the results of replications are used in management and organization research and to use the results of this examination to offer guidelines for improving the self-correction process.

Design/methodology/approach

Study 1 analyzes co-citation patterns for 135 original-replication pairs to assess the direct impact of replications, specifically examining how often and when a replication study is co-cited with its original. In Study 2, a similar design is employed to measure the indirect impact of replications by assessing how often and when a meta-analysis that includes a replication of the original study is co-cited with the original study.

Findings

Study 1 reveals, among other things, that a huge majority (92%) of sources that cite the original study fail to co-cite a replication study, thus calling into question the impact of replications in our field. Study 2 shows that the indirect impact of replications through meta-analyses is likewise minimal. However, our analyses also show that replications published in the same journal that carried the original study and authored by teams including the authors of the original study are more likely to be co-cited, and that articles in higher-ranking journals are more likely to co-cite replications.

Originality/value

We use our results to formulate recommendations that would streamline the self-correction process in management research at the author-, reviewer- and journal-level. Our recommendations would create incentives to make replication attempts more common, while also increasing the likelihood that these attempts are targeted at the most relevant original studies.

Details

Journal of Organizational Change Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0953-4814

Keywords

Article
Publication date: 30 October 2023

John Kwaku Mensah Mawutor, Ernest Sogah and Freeman Christian Gborse

The main objective of the quantitative study is to ascertain the relationship between the circular economy (CE) and carbon emissions. And also, the study examines the threshold…

Abstract

Purpose

The main objective of the quantitative study is to ascertain the relationship between the circular economy (CE) and carbon emissions. And also, the study examines the threshold beyond which the quality of governance reduces carbon emissions.

Design/methodology/approach

The autoregressive distributed lag approach is employed for the econometrics analysis. The study employed quarterly data from 2006Q1 to 2017Q4 on Ghana.

Findings

The results indicated that, although the CE had a positive and significant effect on carbon emissions, the moderating term had an adverse and significant effect on carbon emissions. This result suggests that to mitigate carbon emissions, a robust and efficient quality of institutions should be sustained. Finally, the study also identified a quality of governance threshold of 1.155 beyond which a shift to a CE would result in a reduction in carbon emissions.

Research limitations/implications

The study recommends that policymakers should initiate policies that would enhance quality governance.

Originality/value

The main contributions of the study are that the paper ascertained the threshold beyond which quality of governance assists circular economic practices to mitigate carbon emissions. Also, the study revealed that quality of governance is a catalyst to promote circular economic practices in reducing carbon emissions. Finally, the study ascertains the long-run effect of the variables of interest on carbon emissions.

Details

Management of Environmental Quality: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1477-7835

Keywords

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