Search results for: econometric methods

Authors: Julio Silva, Lia Hasenclever, Gilson G. Silva Jr.

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The aim of this paper is to check possible convergence in health measures (aged-standard rate of morbidity and mortality) for communicable diseases between developed and developing countries, conditional to productive structures features. Understanding the interrelations between health patterns and economic development is particularly important in the context of low- and middle-income countries, where economic development comes along with deep social inequality. Developing countries with less diversified productive structures (measured through complexity index) but high heterogeneous inter-sectorial labor productivity (using as a proxy inter-sectorial coefficient of variation of labor productivity) has on average low health levels in communicable diseases compared to developed countries with high diversified productive structures and low labor market heterogeneity. Structural heterogeneity and productive diversification may have influence on health levels even considering per capita income. We set up a panel data for 139 countries from 1995 to 2015, joining several data about the countries, as economic development, health, and health system coverage, environmental and socioeconomic aspects. This information was obtained from World Bank, International Labour Organization, Atlas of Economic Complexity, United Nation (Development Report) and Institute for Health Metrics and Evaluation Database. Econometric panel models evidence shows that the level of communicable diseases has a positive relationship with structural heterogeneity, even considering other factors as per capita income. On the other hand, the recent process of convergence in terms of communicable diseases have been motivated for other reasons not directly related to productive structure, as health system coverage and environmental aspects. These evidences suggest a joint dynamics between the unequal distribution of communicable diseases and countries' productive structure aspects. These set of evidence are quite important to public policy as meet the health aims in Millennium Development Goals. It also highlights the importance of the process of structural change as fundamental to shift the levels of health in terms of communicable diseases and can contribute to the debate between the relation of economic development and health patterns changes.

Keywords: economic development, inequality, population health, structural change

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Authors: A. Satty, H. Mwambi

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Much clinical trials data-based research are characterized by the unavoidable problem of dropout as a result of missing or erroneous values. This paper aims to review some of the various techniques to address the dropout problems in longitudinal clinical trials. The fundamental concepts of the patterns and mechanisms of dropout are discussed. This study presents five general techniques for handling dropout: (1) Deletion methods; (2) Imputation-based methods; (3) Data augmentation methods; (4) Likelihood-based methods; and (5) MNAR-based methods. Under each technique, several methods that are commonly used to deal with dropout are presented, including a review of the existing literature in which we examine the effectiveness of these methods in the analysis of incomplete data. Two application examples are presented to study the potential strengths or weaknesses of some of the methods under certain dropout mechanisms as well as to assess the sensitivity of the modelling assumptions.

Keywords: incomplete longitudinal clinical trials, missing at random (MAR), imputation, weighting methods, sensitivity analysis

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Authors: Fatbardha Kadiu, Nulifer Caliskan

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The value added tax came as a necessity of substituting the old tax on sales. Based on the advantages of this new tax in our days it is used successfully in more than 140 countries around the world. The aim of the paper is to describe the nature of this tax with its advantages and disadvantages. Also it will describe the way how it functions in most of the European countries and the actual challenges of these countries on value added tax. It will be present the types of goods which are exempt from this tax, the reasons and the consequences of those exemptions. The paper will be based on secondary data taken from respective literature. An econometric model will be present in order to identify the dependence of value tax from other parameters. The analyzing most refers to the two main principles of harmonization and billing on the fiscal system and the ways how to restructures the system in order to minimize the fiscal evasion.

Keywords: value added tax, revenues, complexity, legal uncertainty

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Authors: Carlos Oliveira

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This paper is a criticism of the traditional model of teaching and presents alternative teaching methods, different from the traditional lecture. These methods are accompanied by reports of experience of their application in a class. It was concluded that in the lecture, the student has a low learning rate and that other methods should be used to make the most engaging learning environment for the student, contributing (or facilitating) his learning process. However, the teacher should not use a single method, but rather a range of different methods to ensure the learning experience does not become repetitive and fatiguing for the student.

Keywords: educational practices, experience report, IT in education, teaching methods

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Authors: A. Novikova, L. Rocchi, G. Startiene

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Market and non-market outputs are produced jointly in agriculture. Their supply depends on the intensity and type of production. The role of agriculture as an economic activity and its effects are important for the Lithuanian case study, as agricultural land covers more than a half of country. Positive and negative externalities, created in agriculture are not considered in the market. Therefore, specific techniques such as stated preferences methods, in particular choice experiments (CE) are used for evaluation of non-market outputs in agriculture. The main aim of this paper is to present construction of the research path for evaluation of non-market farming system outputs in Lithuania. The conventional and organic farming, covering crops (including both cereal and industrial crops) and livestock (including dairy and cattle) production has been selected. The CE method and nested logit (NL) model were selected as appropriate for evaluation of non-market outputs of different farming systems in Lithuania. A pilot survey was implemented between October–November 2018, in order to test and improve the CE questionnaire. The results of the survey showed that the questionnaire is accepted and well understood by the respondents. The econometric modelling showed that the selected NL model could be used for the main survey. The understanding of the differences between organic and conventional farming by residents was identified. It was revealed that they are more willing to choose organic farming in comparison to conventional farming.

Keywords: choice experiments, farming system, Lithuania market outputs, non-market outputs

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Authors: Yazdani Saeed, Rafiei Hamed, Nekoofar Farahnaz

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Governments Policies play a major role in national and international Markets. Pistachio is one of the most important non-oil export commodity of Iran. Therefore, in this study the relation between the producer support policies and the export of Pistachio was examined. An econometric model (VAR) was applied to test the study hypothesis. According to the estimated coefficient in VAR model, lag of producer support index has a significant and negative effect on variation of Pistachio’s export in short term. In other word, in short term, export advantage index is dependent on the amount of producers support in previous period.

Keywords: producer support, export advantage, pistachio, Iran

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Authors: Luis N. Pereira, Marco P. Carrasco

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Dynamic pricing is a revenue management strategy in which hotel suppliers define, over time, flexible and different prices for their services for different potential customers, considering the profile of e-consumers and the demand and market supply. This means that the fundamentals of dynamic pricing are based on economic theory (price elasticity of demand) and market segmentation. This study aims to define a dynamic pricing strategy and a contextualized offer to the e-consumers profile in order to improve the number of reservations of an online distribution channel. Segmentation methods (hierarchical and non-hierarchical) were used to identify and validate an optimal number of market segments. A profile of the market segments was studied, considering the characteristics of the e-consumers and the probability of reservation a room. In addition, the price elasticity of demand was estimated for each segment using econometric models. Finally, predictive models were used to define rules for classifying new e-consumers into pre-defined segments. The empirical study illustrates how it is possible to improve the intelligence of an online distribution channel system through an optimal dynamic pricing strategy and a contextualized offer to the profile of each new e-consumer. A database of 11 million e-consumers of an online distribution channel was used in this study. The results suggest that an appropriate policy of market segmentation in using of online reservation systems is benefit for the service suppliers because it brings high probability of reservation and generates more profit than fixed pricing.

Keywords: dynamic pricing, e-consumers segmentation, online reservation systems, predictive analytics

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Authors: Bernur Acikgoz

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The purpose of this paper is to investigate the effects of public spending on economic growth and examine the sources of economic growth in developed countries since the 1990s. This paper analyses whether public spending effect on economic growth based on Cobb-Douglas Production Function with the two econometric models with Autoregressive Distributed Lag (ARDL) and Dynamic Fixed Effect (DFE) for 21 developed countries (high-income OECD countries), over the period 1990-2013. Our models results are parallel to each other and the models support that public spending has an important role for economic growth. This result is accurate with theories and previous empirical studies.

Keywords: public spending, economic growth, panel data, ARDL models

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Authors: Jay N. Vyas, Sachin Daxini

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Numerical simulation techniques are widely used now in product development and testing instead of expensive, time-consuming and sometimes dangerous laboratory experiments. Numerous numerical methods are available for performing simulation of physical problems of different engineering fields. Grid based methods, like Finite Element Method, are extensively used in performing various kinds of static, dynamic, structural and non-structural analysis during product development phase. Drawbacks of grid based methods in terms of discontinuous secondary field variable, dealing fracture mechanics and large deformation problems led to development of a relatively a new class of numerical simulation techniques in last few years, which are popular as Meshless methods or Meshfree Methods. Meshless Methods are expected to be more adaptive and flexible than Finite Element Method because domain descretization in Meshless Method requires only nodes. Present paper introduces Meshless Methods and differentiates it with Finite Element Method in terms of following aspects: Shape functions used, role of weight function, techniques to impose essential boundary conditions, integration techniques for discrete system equations, convergence rate, accuracy of solution and computational effort. Capabilities, benefits and limitations of Meshless Methods are discussed and concluded at the end of paper.

Keywords: numerical simulation, Grid-based methods, Finite Element Method, Meshless Methods

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Authors: Sabina Hublova, Kristyna Hrabova, Petr Cikrle

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Sustainable development and preservation of existing buildings are becoming increasingly important worldwide. In order to reduce the amount of CO2 emissions in the air and to reduce the amount of waste from building structures, we can predict an increasing demand for maintenance of some existing buildings in the future. The use of modern diagnostic methods, which allow detailed determination of the properties of structures, the identification of critical points, could be the great importance for the better assessment of existing structures. Non-destructive methods could be one of the options. From these methods, ultrasonic appears to be a highly perspective method, thanks to which we are able to identify critical points of an element or a structure. The experiment will focus on the use of electroacoustic methods for defectoscopy in reinforced concrete columns.

Keywords: sustainability, defectoscopy, ultrasonic method, non-destructive methods, electroacoustic methods

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Authors: T. A. Biala

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This paper deals with the numerical integration of the general second order multipoint boundary value problems. This has been achieved by the development of a continuous linear multistep method (LMM). The continuous LMM is used to construct a main discrete method to be used with some initial and final methods (also obtained from the continuous LMM) so that they form a discrete analogue of the continuous second order boundary value problems. These methods are used as boundary value methods and adapted to cope with the integration of the general second order multipoint boundary value problems. The convergence, the use and the region of absolute stability of the methods are discussed. Several numerical examples are implemented to elucidate our solution process.

Keywords: linear multistep methods, boundary value methods, second order multipoint boundary value problems, convergence

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Authors: Marasovic Branka, Aljinovic Zdravka, Poklepovic Tea

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Numerical methods like binomial and trinomial trees and finite difference methods can be used to price a wide range of options contracts for which there are no known analytical solutions. American options are the most famous of that kind of options. Besides numerical methods, American options can be valued with the approximation formulas, like Bjerksund-Stensland formulas from 1993 and 2002. When the value of American option is approximated by Bjerksund-Stensland formulas, the computer time spent to carry out that calculation is very short. The computer time spent using numerical methods can vary from less than one second to several minutes or even hours. However to be able to conduct a comparative analysis of numerical methods and Bjerksund-Stensland formulas, we will limit computer calculation time of numerical method to less than one second. Therefore, we ask the question: Which method will be most accurate at nearly the same computer calculation time?

Keywords: Bjerksund and Stensland approximations, computational analysis, finance, options pricing, numerical methods

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Authors: S. Krustev, V. Angelova, K. Ivanov, P. Zaprjanova

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It is generally accepted that only about ten microelements are vitally important to all plants, and approximately ten more elements are proved to be significant for the development of some species. The main methods for their determination in soils are the atomic spectral techniques - AAS and ICP-OAS. Critical stage to obtain correct results for content of heavy metals and nutrients in the soil is the process of mineralization. A comparative study of the most widely spread methods for soil sample preparation for determination of some trace elements was carried out. Three most commonly used methods for sample preparation were used as follows: ISO11466, EPA Method 3051 and BDS ISO 14869-1. Their capabilities were assessed and their bounds of applicability in determining the levels of the most important microelements in agriculture were defined.

Keywords: analysis, copper, methods, zinc

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Authors: Eszter Hamza

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The competitiveness of economic operators is based on interoperability, which is relatively low in Hungary. The development of co-operation is high priority in Common Agricultural Policy 2014-2020. The aim of the paper to assess co-operations in Hungarian agriculture, estimate the economic outputs and benefits of co-operations, based on statistical data processing and literature. Further objective is to explore the potential of agricultural co-operation with the help of interviews and questionnaire survey. The research seeks to answer questions as to what fundamental factors play role in the development of co-operation, and what are the motivations of the actors and the key success factors and pitfalls. The results were analysed using econometric methods. In Hungarian agriculture we can find several forms of co-operation: cooperatives, producer groups (PG) and producer organizations (PO), machinery cooperatives, integrator companies, product boards and interbranch organisations. Despite the several appearance of the agricultural co-operation, their economic weight is significantly lower in Hungary than in western European countries. Considering the agricultural importance, the integrator companies represent the most weight among the co-operations forms. Hungarian farmers linked to co-operations or organizations mostly in relation to procurement and sales. Less than 30 percent of surveyed farmers are members of a producer organization or cooperative. The trust level is low among farmers. The main obstacle to the development of formalized co-operation, is producers' risk aversion and the black economy in agriculture. Producers often prefer informal co-operation instead of long-term contractual relationships. The Hungarian agricultural co-operations are characterized by non-dynamic development, but slow qualitative change. For the future, one breakout point could be the association of producer groups and organizations, which in addition to the benefits of market concentration, in the dissemination of knowledge, advisory network operation and innovation can act more effectively.

Keywords: agriculture, co-operation, producer organisation, trust level

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Authors: Rattana Sangchan, Pattaraporn Thampradit

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Teaching students to use a variety of reading methods in developing reading is essential for Thai university students. However, there haven’t been a lot of studies concerned about developing reading methods that are used by Thai students in the industrial education field. Therefore, this study was carried out not only to investigate the developing reading methods of Industrial Education students at King Mongkut’s Institute of Technology Ladkrabang, but also to determine if the developing reading strategies differ among the students’ reading abilities and differ gender: male and female. The research instrument used in collecting the data consisted of fourteen statements which include either metacognitive strategies, cognitive strategies or social / affective strategies. Results of this study revealed that students could develop their reading methods in moderate level (mean=3.13). Furthermore, high reading ability students had different levels of using reading methods to develop their reading from those of mid reading ability students. In addition, high reading ability students could use either metacognitive reading methods or cognitive reading methods to develop their reading much better than mid reading ability students. Interestingly, male students could develop their reading methods in great levels while female students could develop their reading methods only in moderate level. Last but not least, male students could use either metacognitive reading methods or cognitive reading methods to develop their reading much better than female students. Thus, the results of this study could indicate that most students need to apply much more reading strategies to develop their reading. At the same time, suggestions on how to motivate and train their students to apply much more appropriate effective reading strategies to better comprehend their reading were also provided.

Keywords: developing reading methods, industrial education, reading abilities, reading method classification

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Authors: Ioana Neamtu

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This paper investigates the potential for demand-side management for the system price in the Nordic electricity market and the price effects of introducing wind-power into the system. The model proposed accounts for the micro-structure of the Nordic electricity market by modeling each hour individually, while still accounting for the relationship between the hours within a day. This flexibility allows us to explore the differences between peak and shoulder demand hours. Preliminary results show potential for demand response management, as indicated by the price elasticity of demand as well as a small but statistically significant decrease in price, given by the wind power penetration. Moreover, our study shows that these effects are stronger during day-time and peak hours,compared to night-time and shoulder hours.

Keywords: structural model, GMM estimation, system of equations, electricity market

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Authors: Abebaw Assaye, Seiichi Sakurai, Marutama Atsush, Dawit Alemu

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Rice is considered as a strategic agricultural commodity targeting national food security and import substitution in Ethiopia and diverse measures are put in place a number of initiatives to ensure the growth and development of rice sector in the country. This study assessed factors that influence smallholder farmers' level of rice commercialization in Ethiopia. The required data were generated from 594 randomly sampled rice producers using multi-stage sampling techniques from four major rice-producing regional states. Both descriptive and econometric methods were used to analyze the data. We adopted the ordered probit model to analyze factors determining output commercialization in the rice market. The ordered probit model result showed that the sex of the household head, educational status of the household head, credit use, proportion of irrigated land cultivated, membership in social groups, and land dedicated to rice production were found to influence significantly and positively the probability of being commercial-oriented. Conversely, the age of the household, total cultivated land, and distance to the main market were found to influence negatively. These findings suggest that promoting productivity-increasing technologies, development of irrigation facilities, strengthening of social institutions, and facilitating access to credit are crucial for enhancing the commercialization of rice in the study area. Since agricultural lands are limited, intensified farming through promoting improved rice technologies and mechanized farming could be an option to enhance marketable surplus and increase level of rice market particicpation.

Keywords: rice, commercialization, Tobit, ordered probit, Ethiopia

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Authors: Mouhamadou Dosso

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This paper presents methods of spectral dichotomy of a matrix which compute spectral projectors on the subspace associated with the eigenvalues external to the parabolas described by a general equation. These methods are modifications of the one proposed in [A. N. Malyshev and M. Sadkane, SIAM J. MATRIX ANAL. APPL. 18 (2), 265-278, 1997] which uses the spectral dichotomy method of a matrix with respect to the imaginary axis. Theoretical and algorithmic aspects of the methods are developed. Numerical results obtained by applying methods presented on matrices are reported.

Keywords: spectral dichotomy method, spectral projector, eigensubspaces, eigenvalue

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Authors: Musoke Ivan, Birungi Racheal

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The construction trend is characterized by increased use of modern methods yet traditional methods are cheaper in terms of costs, in addition to the benefits it offers to the construction sector, like providing more jobs that could have been worked with the intensive machines. The purpose of this research was to assess the influence of using Traditional methods of construction (TMC) on the costs and quality of building structures and determine the different ways. Traditional methods of construction (TMC) can be applicable and integrated into the construction trend, and propose ways how this can be a success. The study adopted a quantitative method approach targeting various construction professionals like Architects, Quantity surveyors, Engineers, and Construction Managers. Questionnaires and analyses of literature were used to obtain research data and findings. Simple random sampling was used to select 40 construction professionals to which questionnaires were administered. The data was then analyzed using Microsoft Excel. The findings of the research indicate that Traditional methods of construction (TMCs) in Uganda are cheaper in terms of costs, but the quality is still low. This is attributed to a lack of skilled labour and efficient supervision while undertaking tasks leading to low quality. The study identifies strategies that would improve Traditional methods of construction (TMC), which include the employment of skilled manpower and effective supervision. It also identifies the need by stakeholders like the government, clients, and professionals to appreciate Traditional methods of construction (TMCs) and allow for a levelled ground for Traditional Methods of Construction and Modern methods of construction (MMCs).

Keywords: traditional methods of construction, integration, cost, quality

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Authors: Amal Machtalay

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In this survey, we aim to review the rapidly growing literature on numerical methods to solve different forms of mean field problems, namely mean field games (MFG), mean field controls (MFC), potential MFGs, and master equations, as well as their corresponding recent applications. Here, we distinguish two families of numerical methods: iterative methods based on mesh generation and those called mesh-free, normally related to neural networking and learning frameworks.

Keywords: mean-field games, numerical schemes, partial differential equations, complex systems, machine learning

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Authors: Manish Kumar Thakur, Subrata Kumar Ghosh

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Various types of particles found in lubricant may be characterized by their fractal dimension. Some of the available methods are: yard-stick method or structured walk method, box-counting method. This paper presents a review of the developments and progress in fractal dimension computing methods as applied to characteristics the surface of wear particles. An overview of these methods, their implementation, their advantages and their limits is also present here. It has been accepted that wear particles contain major information about wear and friction of materials. Morphological analysis of wear particles from a lubricant is a very effective way for machine condition monitoring. Fractal dimension methods are used to characterize the morphology of the found particles. It is very useful in the analysis of complexity of irregular substance. The aim of this review is to bring together the fractal methods applicable for wear particles.

Keywords: fractal dimension, morphological analysis, wear, wear particles

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Authors: Reza Mollapourasl, Majid Haghi

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In this study, we develop local meshfree methods known as radial basis function-generated finite difference (RBF-FD) method and Hermite finite difference (RBF-HFD) method to design stencil weights and spatial discretization for Helmholtz equation. The convergence and stability of schemes are investigated numerically in three dimensions with irregular shaped domain. These localized meshless methods incorporate the advantages of the RBF method, finite difference and Hermite finite difference methods to handle the ill-conditioning issue that often destroys the convergence rate of global RBF methods. Moreover, numerical illustrations show that the proposed localized RBF type methods are efficient and applicable for problems with complex geometries. The convergence and accuracy of both schemes are compared by solving a test problem.

Keywords: radial basis functions, Hermite finite difference, Helmholtz equation, stability

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Authors: Pilar Cornejo Ulloa, Guy Willems, Steffen Fieuws, Kim Quintelier, Wim Van Neer, Patrick Thevissen

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Dental age estimation can be performed both in living and deceased individuals. In anthropology, few studies have tested the reliability of dental age estimation methods complementary to the usually applied osteological methods. Objectives: In this study, destructive and non-destructive dental age estimation methods were applied on an archeological sample in order to compare them with the previously obtained anthropological age estimates. Materials and Methods: One hundred and thirty-four teeth from 24 individuals were analyzed using Kvaal, Kvaal and Solheim, Bang and Ramm, Lamendin, Gustafson, Maples, Dalitz and Johanson’s methods. Results: A high variability and wider age ranges than the ones previously obtained by the anthropologist could be observed. Destructive methods had a slightly higher agreement than the non-destructive. Discussion: Due to the heterogeneity of the sample and the lack of the real age at death, the obtained results were not representative, and it was not possible to suggest one dental age estimation method over another.

Keywords: archeology, dental age estimation, forensic anthropology, forensic dentistry

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Authors: B. I. Zhumagaliyev, L. Sh. Balgabayeva, G. S. Nabiyeva, B. A. Tulegenova, P. Oralkhan, B. S. Kalenova, S. S. Akhmetov

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The article describes an approach to build competence in research of Bachelor and Master, which is now an important feature of modern specialist in the field of engineering. Provides an example of methodical teaching methods with the research aspect, is including the formulation of the problem, the method of conducting experiments, analysis of the results. Implementation of methods allows the student to better consolidate their knowledge and skills at the same time to get research. Knowledge on the part of the media requires some training in the subject area and teaching methods.

Keywords: professional competence, model of it-specialties, teaching methods, educational technology, decision making

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Authors: Justyna P. Majewska, Szymon M. Truskolaski

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The growing importance of digitalized services in the so-called new economy, including the e-sports industry, can be observed recently. Various demographic or technological changes lead consumers to modify their needs, not regarding the services themselves but the method of their application (attracting customers, forms of payment, new content, etc.). In the case of leisure-related to competitive spectating activities, there is a growing need to participate in events whose content is not sports competitions but computer games challenge – e-sport. The literature in this area so far focuses on determining the number of e-sport fans with elements of a simple statistical description (mainly concerning demographic characteristics such as age, gender, place of residence). Meanwhile, the development of the industry is influenced by a combination of many different, intertwined demographic, personality and psychosocial characteristics of customers, as well as the characteristics of their environment. Therefore, there is a need for a deeper recognition of the determinants of the behavioral patterns upon selecting digitalized services by customers, which, in the absence of available large data sets, can be achieved by using econometric simulations – multi-agent modeling. The cognitive aim of the study is to reveal internal and external determinants of behavioral patterns of customers taking into account various variants of economic development (the pace of digitization and technological development, socio-demographic changes, etc.). In the paper, an agent-based model with heterogeneous agents (characteristics of customers themselves and their environment) was developed, which allowed identifying a three-stage development scenario: i) initial interest, ii) standardization, and iii) full professionalization. The probabilities regarding the transition process were estimated using the Method of Simulated Moments. The estimation of the agent-based model parameters and sensitivity analysis reveals crucial factors that have driven a rising trend in e-sport spectating and, in a wider perspective, the development of digitalized services. Among the psychosocial characteristics of customers, they are the level of familiarization with the rules of games as well as sports disciplines, active and passive participation history and individual perception of challenging activities. Environmental factors include general reception of games, number and level of recognition of community builders and the level of technological development of streaming as well as community building platforms. However, the crucial factor underlying the good predictive power of the model is the level of professionalization. While in the initial interest phase, the entry barriers for new customers are high. They decrease during the phase of standardization and increase again in the phase of full professionalization when new customers perceive participation history inaccessible. In this case, they are prone to switch to new methods of service application – in the case of e-sport vs. sports to new content and more modern methods of its delivery. In a wider context, the findings in the paper support the idea of a life cycle of services regarding methods of their application from “traditional” to digitalized.

Keywords: agent-based modeling, digitalized services, e-sport, spectators motives

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Authors: Jehad Al Dallal

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Class cohesion is a key object-oriented software quality attribute that is used to evaluate the degree of relatedness of class attributes and methods. Researchers have proposed several class cohesion measures. However, the effect of considering the special methods (i.e., constructors, destructors, and access and delegation methods) in cohesion calculation is not thoroughly theoretically studied for most of them. In this paper, we address this issue for three popular connectivity-based class cohesion measures. For each of the considered measures we theoretically study the impact of including or excluding special methods on the values that are obtained by applying the measure. This study is based on analyzing the definitions and formulas that are proposed for the measures. The results show that including/excluding special methods has a considerable effect on the obtained cohesion values and that this effect varies from one measure to another. For each of the three connectivity-based measures, the proposed theoretical study recommended excluding the special methods in cohesion measurement.

Keywords: object-oriented class, software quality, class cohesion measure, class cohesion, special methods

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Authors: Mike Tsionas

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The paper develops new indices of financial stability based on an explicit model of expected utility maximization by financial institutions subject to the classical technology restrictions of neoclassical production theory. The model can be estimated using standard econometric techniques, like GMM for dynamic panel data and latent factor analysis for the estimation of co-variance matrices. An explicit functional form for the utility function is not needed and we show how measures of risk aversion and prudence (downside risk aversion) can be derived and estimated from the model. The model is estimated using data for Eurozone countries and we focus particularly on (i) the use of the modeling approach as an “early warning mechanism”, (ii) the bank- and country-specific estimates of risk aversion and prudence (downside risk aversion), and (iii) the derivation of a generalized measure of risk that relies on loan-price uncertainty.

Keywords: financial stability, banking, expected utility maximization, sub-prime crisis, financial crisis, eurozone, PIIGS

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Authors: Aslı Günay Bulutsuz, Mehmet Emin Yurci

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Severe plastic deformation techniques are top-down deformation methods which enable superior mechanical properties by decreasing grain size. Different kind severe plastic deformation methods have been widely being used at various process temperature and geometries. Besides manufacturing advantages of severe plastic deformation technique, most of the types are being used only at the laboratory level. They cannot be adapted to industrial usage due to their continuous manufacturability and manufacturing costs. In order to enhance these manufacturing difficulties and enable widespread usage, different kinds of methods have been developed. In this review, a comprehensive literature research was fulfilled in order to highlight continuous severe plastic deformation methods.

Keywords: continuous manufacturing, severe plastic deformation, ultrafine grains, grain size refinement

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Authors: Serkan Aras, Emrah Gulay

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Combining various forecasting models is an important tool for researchers to attain more accurate forecasts. A great number of papers have shown that selecting single models as dissimilar models, or methods based on different information as possible leads to better forecasting performances. However, there is not a certain rule regarding the number of single models to be used in any combining methods. This study focuses on determining the optimal or near optimal number for single models with the help of statistical tests. An extensive experiment is carried out by utilizing some well-known time series data sets from diverse fields. Furthermore, many rival forecasting methods and some of the commonly used combining methods are employed. The obtained results indicate that some statistically significant performance differences can be found regarding the number of the single models in the combining methods under investigation.

Keywords: combined forecast, forecasting, M-competition, time series

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Authors: Manideepa Saha, Jahnavi Chakrabarty

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Generalized Jacobi (GJ) and Generalized Gauss-Seidel (GGS) methods are most effective than conventional Jacobi and Gauss-Seidel methods for solving linear system of equations. It is known that GJ and GGS methods converge for strictly diagonally dominant (SDD) and for M-matrices. In this paper, we study the convergence of GJ and GGS converge for symmetric positive definite (SPD) matrices, L-matrices and H-matrices. We introduce a generalization of successive overrelaxation (SOR) method for solving linear systems and discuss its convergence for the classes of SDD matrices, SPD matrices, M-matrices, L-matrices and for H-matrices. Advantages of generalized SOR method are established through numerical experiments over GJ, GGS, and SOR methods.

Keywords: convergence, Gauss-Seidel, iterative method, Jacobi, SOR

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