10 research outputs found

    Determination of optimum law lift element lining the manipulator of tunnel stacker

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    Получены новые закономерности подъема элементов обделки манипулятором тоннельного укладчика. Определен оптимальный закон перемещения элементов обделки на заданную высоту.Obtain new regularities of lifting lining elements using the manipulator tun‐nel stacker. The optimal law of displacement elements lining a predetermined height was determined

    The development of a concept project unloading complex in a сoal terminal in the software SOLIDWORKS

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    Разработана компьютерная компоновочная модель разгрузочного комплекса. Произведено моделирование движения машин и узлов, соответствующее технологическим процессам протекающим при работе комплекса.A computer layout model of the unloading complex was designed. Motions of machines and units, corresponding to technological process operates when the complex works were simulated

    A model for ordinal responses with heterogeneous status quo outcomes

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    The decisions to reduce, leave unchanged, or increase a choice variable (such as policy interest rates) are often characterized by abundant status quo outcomes that can be generated by different processes. The decreases and increases may also be driven by distinct decision-making paths. Neither conventional nor zero-inflated models for ordinal responses adequately address these issues. This paper develops a flexible endogenously switching model with three latent regimes, which create separate processes for interest rate hikes and cuts and overlap at a no-change outcome, generating three different types of status quo decisions. The model is not only favored by statistical tests but also produces economically more meaningful inference with respect to the existing models, which deliver biased estimates in the simulations

    A model for policy interest rates

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    This paper introduces a model that addresses the key worldwide features of modern monetary policy making: the discreteness of policy interest rates both in magnitude and in timing, the preponderance of status quo decisions, monetary policy inertia and policy regime switching. We capture them by developing a new dynamic ordered-choice model with switching among three latent policy regimes (easing, neutral and tightening). The simulations and an application to the federal funds rate target demonstrate that ignoring these features leads to biased estimates, worse in- and out-of-sample predictions, and a qualitatively different inference. Using all Federal Open Market Committee’s (FOMC) decisions made both at scheduled and unscheduled meetings as sample observations, we model the Federal Reserve’s response to real-time data available right before each meeting. The new model, fitted for the Greenspan’s tenure, detects oscillating switches among latent regimes, identifies three types of status quo decisions, correctly predicts out of sample 90% of the next 111 FOMC decisions on the target rate, and clearly outperforms the linear models (including the Taylor rule), the conventional ordered probit and other discrete-choice models from the literature
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