Land Cover Change Image Analysis for Assateague Island National Seashore Following Hurricane Sandy

The assessment of storm damages is critically important if resource managers are to understand the impacts of weather pattern changes and sea level rise on their lands and develop management strategies to mitigate its effects. This study was performed to detect land cover change on Assateague Island as a result of Hurricane Sandy. Several single-date classifications were performed on the pre and post hurricane imagery utilized using both a pixel-based and object-based approach with the Random Forest classifier. Univariate image differencing and a post classification comparison were used to conduct the change detection. This study found that the addition of the coastal blue band to the Landsat 8 sensor did not improve classification accuracy and there was also no statistically significant improvement in classification accuracy using Landsat 8 compared to Landsat 5. Furthermore, there was no significant difference found between object-based and pixel-based classification. Change totals were estimated on Assateague Island following Hurricane Sandy and were found to be minimal, occurring predominately in the most active sections of the island in terms of land cover change, however, the post classification detected significantly more change, mainly due to classification errors in the single-date maps used

Do local manufacturing firms benefit from transactional linkages with multinational enterprises in China?

This paper examines the linkage effects of foreign direct investment (FDI) on firm-level productivity in Chinese manufacturing. It is found that FDI generates positive vertical linkage effects in Chinese manufacturing at both the national and regional levels, and limited positive horizontal spillovers at the regional level. While OECD firms gain from both vertical and (probably) horizontal linkages, Hong Kong, Macao and Taiwanese firms benefit only from backward linkage effects. In the domestic sector, in which we are most interested, both state-owned enterprises (SOEs) and non-SOEs are hurt by competition from foreign firms in the same industries. While SOEs gain from vertical linkages with foreign firms, non-SOEs are unable to do so. The patterns of productivity spillovers from FDI in Chinese manufacturing seem to be determined by one key factor – the technological capabilities of the firms involved. Important data limitations and policy implications of this research are discussed

Empirical validation of models to compute solar irradiance on inclined surfaces for building energy simulation

Accurately computing solar irradiance on external facades is a prerequisite for reliably predicting thermal behavior and cooling loads of buildings. Validation of radiation models and algorithms implemented in building energy simulation codes is an essential endeavor for evaluating solar gain models. Seven solar radiation models implemented in four building energy simulation codes were investigated: (1) isotropic sky, (2) Klucher, (3) Hay-Davies, (4) Reindl, (5) Muneer, (6) 1987 Perez, and (7) 1990 Perez models. The building energy simulation codes included: EnergyPlus, DOE-2.1E, TRNSYS-TUD, and ESP-r. Solar radiation data from two 25 days periods in October and March/April, which included diverse atmospheric conditions and solar altitudes, measured on the EMPA campus in a suburban area in Duebendorf, Switzerland, were used for validation purposes. Two of the three measured components of solar irradiances - global horizontal, diffuse horizontal and direct-normal - were used as inputs for calculating global irradiance on a south-west façade. Numerous statistical parameters were employed to analyze hourly measured and predicted global vertical irradiances. Mean absolute differences for both periods were found to be: (1) 13.7% and 14.9% for the isotropic sky model, (2) 9.1% for the Hay-Davies model, (3) 9.4% for the Reindl model, (4) 7.6% for the Muneer model, (5) 13.2% for the Klucher model, (6) 9.0%, 7.7%, 6.6%, and 7.1% for the 1990 Perez models, and (7) 7.9% for the 1987 Perez model. Detailed sensitivity analyses using Monte Carlo and fitted effects for N-way factorial analyses were applied to assess how uncertainties in input parameters propagated through one of the building energy simulation codes and impacted the output parameter. The implications of deviations in computed solar irradiances on predicted thermal behavior and cooling load of buildings are discussed

Are Price-Earnings Ratios Mean Reverting? An Empirical Study

Mean reversion in stock prices is a highly studied area in the financial literature with controversial findings. While some economists have found evidence of mean reverting processes in stock prices, many argue in favor of the Efficient Market Hypothesis which states stock prices are random walk processes. This paper seeks to add to the literature on mean reversion but testing for evidence in price-earnings ratios rather than stock prices. The study employs a robust regression model controlling for company-specific and general market factors that influence price-earnings ratio deviations. After correcting for heteroskedasticity, serial correlation, and unit root processes, the results indicate mean reverting behavior does exist in US equities from 2008- 2017 and mean reversion in price-earnings ratios may occur more quickly than mean reversion of stock prices. The outcome of this paper also implies some level of endogeneity in the Three-Factor-Model proposed by Fama and French (1992)

Assessing the Effects of Local Taxation Using Microgeographic Data

We study the impact of local taxation on the location and growth of firms. Our empirical methodology pairs establishments across jurisdictional boundaries to estimate the impact of taxation. Our approach improves on existing work as it corrects for unobserved establishment heterogeneity, for unobserved time-varying site specific effects, and for the endogeneity of local taxation. Applied to data for English manufacturing establishments we find that local taxation has a negative impact on employment growth, but no effect on entry.Local taxation, spatial differencing, borders

Using wage council data to identify the effect of recessions on the impact of the minimum wage

Up until now the National Minimum Wage (NMW) introduced in April 1999 appears to have been a policy success. So far there has been little evidence of a negative effect on employment. However, to date, the NMW has largely been operating in a period of prolonged economic expansion. Since the spring of 2008 the UK economy has experienced a downturn of significant proportions. In this report we examine the impact of the UK minimum wages in force during the 1980s and 1990s recessions when a system of Wages Councils was in operation. Wages Councils set (different) minimum rates of pay in a range of low-paying industries. However there were still a large number of low-wage industries not covered by the legislation. This project analyses the impact of the two previous recessions on employment and wages in Wages Council sectors relative to other similar but uncovered low-wage industries using data from the New Earnings Survey and Workforce in Employment Survey form the panel. The findings are informative about the likely consequences of the NMW in the current recession. We can find no significant detrimental impact on employment from the Wages Councils. We do find some evidence of negative hours effects from the Wages Councils, although we cannot find any further detrimental impacts through the recessions of the 1980s or 1990s. In addition, our individual level results are consistent with higher turnover in the Wages Councils sectors. We do find some evidence of a slowdown in turnover through the recessions, and some evidence that hiring increased in the 1990s recession in these low wage sectors. None of the results here indicate that the National Minimum Wage will have any more detrimental impacts on employment through the recent Credit Crunch recession. However, one must be mindful of the fact that recessions can be very different. Our individual results suggest this. So the recent recession that the UK has experienced may play out differently across different sectors than have recessions of the past

GPS radio occultation with GRACE: Atmospheric profiling utilizing the zero difference technique

Radio occultation events recorded on 28-29 July 2004 by a GPS receiver aboard the GRACE-B satellite are analyzed. The stability of the receiver clock allows for the derivation of excess phase profiles using a zero difference technique, rendering the calibration procedure with concurrent observations of a reference GPS satellite obsolete. 101 refractivity profiles obtained by zero differencing and 96 profiles calculated with an improved single difference method are compared with co-located ECMWF meteorological analyses. Good agreement is found at altitudes between 5 and 30 km with an average fractional refractivity deviation below 1% and a standard deviation of 2-3%. Results from end-to-end simulations are consistent with these observations.Comment: 17 pages, 4 figure