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Dissertation
The performance of the Real Estate Mutual Fund industry: an empirical examination from 2003 to 2015
Authors: --- --- ---
Year: 2016 Publisher: Liège Université de Liège (ULiège)

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Thanks to the real estate industry’s strong growth since the early 2000s, financial investors have shown increased interest in it. This has paved the way for the quick development of specialized investment vehicles and especially Real Estate Mutual Funds. This is precisely what led to the writing of this paper.&#13;As a first step, it aims at describing the economic environment that surrounds this specific industry between 2003 and 2015. It provides information and details about the main drivers of the expansion of the US housing bubble. It further illustrates the disastrous consequences of the bubble’s rupture on the global economy and the way financial markets recovered over the next years.&#13;In a second step, it analyses the past performances of global REMF during the pre-crisis (i.e. 2003-2006), crisis (i.e. 2007-2009) and post-crisis (2010-2015) periods. While REMF market showed strong signs of inefficiencies throughout the 1990s, the paper demonstrated standardization in the industry, as the results were fairly similar to those obtained by the broad mutual fund industry. In fact, managers were no longer able to consistently outperform the real estate benchmark over the period.&#13;Following that, the paper used regression models to highlight the factors (i.e. total expense ratio, turnover ratio) impacting the REMF alphas. It found that REMF with the lowest TER and turnover ratio tend to produce better performances. However, the relatively low r-squared suggested that no general conclusions could be drawn from this analysis,&#13;Finally, it provides a cursory analysis of the existing relationship between the stock market and the real estate mutual fund industry at the global level. With the exception of the 2000-2006 period, which featured contrasting trends in the economy (i.e. the quick expansion of the housing bubble and the recovery of the stock market), it found a strong correlation between them. This in turn suggested the low diversification benefits from the real estate industry, when added to a world stock portfolio.


Book
Remittance Stability, Cyclicality and Stabilizing Impact in Developing Countries
Authors: ---
Year: 2009 Publisher: Washington, D.C., The World Bank,

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That remittances are a stable source of external finance seems to have become the received wisdom. In addition, many studies have found remittances to behave counter-cyclically, increasing during crises and times of hardship for the recipient countries. Are remittances reliable macroeconomic stabilizers? To answer this question, the present study examines the stability, cyclicality, and stabilizing impact of remittances in comparison with the same three features for other foreign-exchange inflows, namely foreign direct investment and official development aid. The analysis is performed at the country and regional levels rather than at the aggregate or global level (on which much of the received wisdom rests), because policymakers are concerned with the impact of remittances in their country rather than at the global level. The main findings for 1980-2007 are that in a majority of countries: i) official development aid is more stable than remittances, and remittances are more stable than foreign direct investment; ii) official development aid is counter-cyclical, while remittances are pro-cyclical, although less so than foreign direct investment; and iii) official development aid is stabilizing and remittances are destabilizing, although less so than foreign direct investment. The paper suggests that it is necessary to examine counter-cyclicality separately from the stabilizing impact, as the former does not seem to always imply the latter.


Book
Remittance Stability, Cyclicality and Stabilizing Impact in Developing Countries
Authors: ---
Year: 2009 Publisher: Washington, D.C., The World Bank,

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Abstract

That remittances are a stable source of external finance seems to have become the received wisdom. In addition, many studies have found remittances to behave counter-cyclically, increasing during crises and times of hardship for the recipient countries. Are remittances reliable macroeconomic stabilizers? To answer this question, the present study examines the stability, cyclicality, and stabilizing impact of remittances in comparison with the same three features for other foreign-exchange inflows, namely foreign direct investment and official development aid. The analysis is performed at the country and regional levels rather than at the aggregate or global level (on which much of the received wisdom rests), because policymakers are concerned with the impact of remittances in their country rather than at the global level. The main findings for 1980-2007 are that in a majority of countries: i) official development aid is more stable than remittances, and remittances are more stable than foreign direct investment; ii) official development aid is counter-cyclical, while remittances are pro-cyclical, although less so than foreign direct investment; and iii) official development aid is stabilizing and remittances are destabilizing, although less so than foreign direct investment. The paper suggests that it is necessary to examine counter-cyclicality separately from the stabilizing impact, as the former does not seem to always imply the latter.


Book
Symmetry in Electromagnetism
Authors: ---
Year: 2020 Publisher: Basel, Switzerland MDPI - Multidisciplinary Digital Publishing Institute

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Electromagnetism plays a crucial role in basic and applied physics research. The discovery of electromagnetism as the unifying theory for electricity and magnetism represents a cornerstone in modern physics. Symmetry was crucial to the concept of unification: electromagnetism was soon formulated as a gauge theory in which local phase symmetry explained its mathematical formulation. This early connection between symmetry and electromagnetism shows that a symmetry-based approach to many electromagnetic phenomena is recurrent, even today. Moreover, many recent technological advances are based on the control of electromagnetic radiation in nearly all its spectra and scales, the manipulation of matter–radiation interactions with unprecedented levels of sophistication, or new generations of electromagnetic materials. This is a fertile field for applications and for basic understanding in which symmetry, as in the past, bridges apparently unrelated phenomena―from condensed matter to high-energy physics. In this book, we present modern contributions in which symmetry proves its value as a key tool. From dual-symmetry electrodynamics to applications to sustainable smart buildings, or magnetocardiography, we can find a plentiful crop, full of exciting examples of modern approaches to electromagnetism. In all cases, symmetry sheds light on the theoretical and applied works presented in this book.


Book
Symmetry in Electromagnetism
Authors: ---
Year: 2020 Publisher: Basel, Switzerland MDPI - Multidisciplinary Digital Publishing Institute

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Electromagnetism plays a crucial role in basic and applied physics research. The discovery of electromagnetism as the unifying theory for electricity and magnetism represents a cornerstone in modern physics. Symmetry was crucial to the concept of unification: electromagnetism was soon formulated as a gauge theory in which local phase symmetry explained its mathematical formulation. This early connection between symmetry and electromagnetism shows that a symmetry-based approach to many electromagnetic phenomena is recurrent, even today. Moreover, many recent technological advances are based on the control of electromagnetic radiation in nearly all its spectra and scales, the manipulation of matter–radiation interactions with unprecedented levels of sophistication, or new generations of electromagnetic materials. This is a fertile field for applications and for basic understanding in which symmetry, as in the past, bridges apparently unrelated phenomena―from condensed matter to high-energy physics. In this book, we present modern contributions in which symmetry proves its value as a key tool. From dual-symmetry electrodynamics to applications to sustainable smart buildings, or magnetocardiography, we can find a plentiful crop, full of exciting examples of modern approaches to electromagnetism. In all cases, symmetry sheds light on the theoretical and applied works presented in this book.


Book
Wearable and BAN Sensors for Physical Rehabilitation and eHealth Architectures
Authors: --- ---
Year: 2022 Publisher: Basel MDPI - Multidisciplinary Digital Publishing Institute

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The demographic shift of the population towards an increase in the number of elderly citizens, together with the sedentary lifestyle we are adopting, is reflected in the increasingly debilitated physical health of the population. The resulting physical impairments require rehabilitation therapies which may be assisted by the use of wearable sensors or body area network sensors (BANs). The use of novel technology for medical therapies can also contribute to reducing the costs in healthcare systems and decrease patient overflow in medical centers. Sensors are the primary enablers of any wearable medical device, with a central role in eHealth architectures. The accuracy of the acquired data depends on the sensors; hence, when considering wearable and BAN sensing integration, they must be proven to be accurate and reliable solutions. This book is a collection of works focusing on the current state-of-the-art of BANs and wearable sensing devices for physical rehabilitation of impaired or debilitated citizens. The manuscripts that compose this book report on the advances in the research related to different sensing technologies (optical or electronic) and body area network sensors (BANs), their design and implementation, advanced signal processing techniques, and the application of these technologies in areas such as physical rehabilitation, robotics, medical diagnostics, and therapy.

Keywords

Technology: general issues --- History of engineering & technology --- fog computing --- cloud computing --- e-health --- healthcare --- Internet of Things --- paddle stroke analysis --- motion reconstruction --- inertial sensor --- data fusion --- body sensor network --- gait analysis --- gyroscope --- information fusion --- hidden Markov model --- human activity recognition --- out of distribution --- anomaly detection --- open set classification --- physiotherapy --- inertial sensors --- smart watch --- rehabilitation --- machine learning --- COPD --- wearable sensors --- SenseWear Armband --- physical activity --- weekday-to-weekend --- energy expenditure --- stress --- wearable device --- heart rate variability --- electrocardiogram --- scapula neuromuscular activity and control --- rotator cuff related pain syndrome --- anterior shoulder instability --- scapular dyskinesis --- electromyographic biofeedback --- cardio-respiratory monitoring --- wearable system --- smart textile --- IMU --- respiratory rate --- heart rate --- accelerometers --- Bland-Altman plots --- gait speed --- interclass correlation coefficient --- low frequency extension filter --- Stepwatch --- smart walker --- obstacle detection --- aging --- fog computing --- cloud computing --- e-health --- healthcare --- Internet of Things --- paddle stroke analysis --- motion reconstruction --- inertial sensor --- data fusion --- body sensor network --- gait analysis --- gyroscope --- information fusion --- hidden Markov model --- human activity recognition --- out of distribution --- anomaly detection --- open set classification --- physiotherapy --- inertial sensors --- smart watch --- rehabilitation --- machine learning --- COPD --- wearable sensors --- SenseWear Armband --- physical activity --- weekday-to-weekend --- energy expenditure --- stress --- wearable device --- heart rate variability --- electrocardiogram --- scapula neuromuscular activity and control --- rotator cuff related pain syndrome --- anterior shoulder instability --- scapular dyskinesis --- electromyographic biofeedback --- cardio-respiratory monitoring --- wearable system --- smart textile --- IMU --- respiratory rate --- heart rate --- accelerometers --- Bland-Altman plots --- gait speed --- interclass correlation coefficient --- low frequency extension filter --- Stepwatch --- smart walker --- obstacle detection --- aging


Book
Symmetry in Electromagnetism
Authors: ---
Year: 2020 Publisher: Basel, Switzerland MDPI - Multidisciplinary Digital Publishing Institute

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Abstract

Electromagnetism plays a crucial role in basic and applied physics research. The discovery of electromagnetism as the unifying theory for electricity and magnetism represents a cornerstone in modern physics. Symmetry was crucial to the concept of unification: electromagnetism was soon formulated as a gauge theory in which local phase symmetry explained its mathematical formulation. This early connection between symmetry and electromagnetism shows that a symmetry-based approach to many electromagnetic phenomena is recurrent, even today. Moreover, many recent technological advances are based on the control of electromagnetic radiation in nearly all its spectra and scales, the manipulation of matter–radiation interactions with unprecedented levels of sophistication, or new generations of electromagnetic materials. This is a fertile field for applications and for basic understanding in which symmetry, as in the past, bridges apparently unrelated phenomena―from condensed matter to high-energy physics. In this book, we present modern contributions in which symmetry proves its value as a key tool. From dual-symmetry electrodynamics to applications to sustainable smart buildings, or magnetocardiography, we can find a plentiful crop, full of exciting examples of modern approaches to electromagnetism. In all cases, symmetry sheds light on the theoretical and applied works presented in this book.

Keywords

History of engineering & technology --- electromagnetic knots --- helicity --- spin-orbital momentum --- magnetocardiography --- quadratic penalty --- variational mode decomposition --- correlation coefficient --- interval thresholding method --- periodic structures --- dispersion diagram --- high-order coupling --- glide symmetry --- smart building --- harmonics --- geometric algebra --- Poynting Multivector --- electric-magnetic duality symmetry --- quantum anomalies --- optical helicity --- electromagnetic polarization --- particle creation --- Maxwell theory --- constraint equations --- evolutionary equations --- Barium hexaferrite --- titanium --- hysteresis --- X-ray diffraction --- permanent magnet applications --- hopfion --- Bateman construction --- null fields --- magnetic levitation --- electrodynamic structure --- ground high speed system --- finite element analysis --- non-local action --- electrodynamics --- electromagnetic duality symmetry --- Aharonov-Bohm effect --- Harvesting --- low-power applications --- vibration --- micro-generator --- optimal solution --- magnetic circuit --- periodical structure --- effective power density --- symmetry --- electromagnetic knots --- helicity --- spin-orbital momentum --- magnetocardiography --- quadratic penalty --- variational mode decomposition --- correlation coefficient --- interval thresholding method --- periodic structures --- dispersion diagram --- high-order coupling --- glide symmetry --- smart building --- harmonics --- geometric algebra --- Poynting Multivector --- electric-magnetic duality symmetry --- quantum anomalies --- optical helicity --- electromagnetic polarization --- particle creation --- Maxwell theory --- constraint equations --- evolutionary equations --- Barium hexaferrite --- titanium --- hysteresis --- X-ray diffraction --- permanent magnet applications --- hopfion --- Bateman construction --- null fields --- magnetic levitation --- electrodynamic structure --- ground high speed system --- finite element analysis --- non-local action --- electrodynamics --- electromagnetic duality symmetry --- Aharonov-Bohm effect --- Harvesting --- low-power applications --- vibration --- micro-generator --- optimal solution --- magnetic circuit --- periodical structure --- effective power density --- symmetry


Book
Remote Sensing of Above Ground Biomass
Authors: ---
ISBN: 3039212109 3039212095 Year: 2019 Publisher: MDPI - Multidisciplinary Digital Publishing Institute

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Above ground biomass has been listed by the Intergovernmental Panel on Climate Change as one of the five most prominent, visible, and dynamic terrestrial carbon pools. The increased awareness of the impacts of climate change has seen a burgeoning need to consistently assess carbon stocks to combat carbon sequestration. An accurate estimation of carbon stocks and an understanding of the carbon sources and sinks can aid the improvement and accuracy of carbon flux models, an important pre-requisite of climate change impact projections. Based on 15 research topics, this book demonstrates the role of remote sensing in quantifying above ground biomass (forest, grass, woodlands) across varying spatial and temporal scales. The innovative application areas of the book include algorithm development and implementation, accuracy assessment, scaling issues (local–regional–global biomass mapping), and the integration of microwaves (i.e. LiDAR), along with optical sensors, forest biomass mapping, rangeland productivity and abundance (grass biomass, density, cover), bush encroachment biomass, and seasonal and long-term biomass monitoring.

Keywords

NDLMA --- n/a --- multi-angle remote sensing --- TerraSAR-X --- above ground biomass --- stem volume --- regression analysis --- ground-based remote sensing --- sensor fusion --- pasture biomass --- grazing management --- livestock --- mixed forest --- SPLSR --- estimation accuracy --- Bidirectional Reflectance Distribution Factor --- forage crops --- Land Surface Phenology --- climate change --- vegetation index --- dry biomass --- mapping --- rangeland productivity --- vegetation indices --- error analysis --- broadleaves --- remote sensing --- applicability evaluation --- ultrasonic sensor --- chlorophyll index --- alpine meadow grassland --- forest biomass --- anthropogenic disturbance --- fractional vegetation cover --- alpine grassland conservation --- carbon mitigation --- conifer --- short grass --- grazing exclusion --- MODIS time series --- random forest --- aboveground biomass --- NDVI --- AquaCrop model --- inversion model --- wetlands --- field spectrometry --- spectral index --- yield --- foliage projective cover --- lidar --- correlation coefficient --- Sahel --- biomass --- dry matter index --- Niger --- Landsat --- grass biomass --- particle swarm optimization --- winter wheat --- carbon inventory --- rice --- forest structure information --- MODIS --- light detection and ranging (LiDAR) --- ALOS2 --- ecological policies --- above-ground biomass --- Wambiana grazing trial --- food security --- forest above ground biomass (AGB) --- Atriplex nummularia --- regional sustainability --- CIRed-edge


Book
Wearable and BAN Sensors for Physical Rehabilitation and eHealth Architectures
Authors: --- ---
Year: 2022 Publisher: Basel MDPI - Multidisciplinary Digital Publishing Institute

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Abstract

The demographic shift of the population towards an increase in the number of elderly citizens, together with the sedentary lifestyle we are adopting, is reflected in the increasingly debilitated physical health of the population. The resulting physical impairments require rehabilitation therapies which may be assisted by the use of wearable sensors or body area network sensors (BANs). The use of novel technology for medical therapies can also contribute to reducing the costs in healthcare systems and decrease patient overflow in medical centers. Sensors are the primary enablers of any wearable medical device, with a central role in eHealth architectures. The accuracy of the acquired data depends on the sensors; hence, when considering wearable and BAN sensing integration, they must be proven to be accurate and reliable solutions. This book is a collection of works focusing on the current state-of-the-art of BANs and wearable sensing devices for physical rehabilitation of impaired or debilitated citizens. The manuscripts that compose this book report on the advances in the research related to different sensing technologies (optical or electronic) and body area network sensors (BANs), their design and implementation, advanced signal processing techniques, and the application of these technologies in areas such as physical rehabilitation, robotics, medical diagnostics, and therapy.


Book
Advances in Mobile Mapping Technologies
Authors: --- ---
Year: 2022 Publisher: Basel MDPI - Multidisciplinary Digital Publishing Institute

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Mobile mapping is applied widely in society, for example, in asset management, fleet management, construction planning, road safety, and maintenance optimization. Yet, further advances in these technologies are called for. Advances can be radical, such as changes to the prevailing paradigms in mobile mapping, or incremental, such as the state-of-the-art mobile mapping methods. With current multi-sensor systems in mobile mapping, laser-scanned data are often registered in point clouds with the aid of global navigation satellite system (GNSS) positioning or simultaneous localization and mapping (SLAM) techniques and then labeled and colored with the aid of machine learning methods and digital camera data. These multi-sensor platforms are beginning to undergo further advancements via the addition of multi-spectral and other sensors and via the development of machine learning techniques used in processing this multi-modal data. Embedded systems and minimalistic system designs are also attracting attention, from both academic and commercial perspectives.This book contains the accepted publications of the Special Issue 'Advances in Mobile Mapping Technologies' of the Remote Sensing journal. It consists of works introducing a new mobile mapping dataset (‘Paris CARLA 3D’), system calibration studies, SLAM topics, and multiple deep learning works for asset detection. We, the Guest Editors, Ville Lehtola from University of Twente, Netherlands, Andreas Nüchter from University of Würzburg, Germany, and François Goulette from Mines Paris- PSL University, France, wish to thank all the authors who contributed to this collection.

Keywords

Technology: general issues --- History of engineering & technology --- LiDAR --- RetinaNet --- inception --- Mobile Laser Scanning --- point clouds --- data fusion --- Lidar --- point cloud density --- point cloud coverage --- mobile mapping systems --- 3D simulation --- Pandar64 --- Ouster OS-1-64 --- mobile laser scanning --- lever arm --- boresight angles --- plane-based calibration field --- configuration analysis --- accuracy --- controllability --- evaluation --- control points --- TLS reference point clouds --- visual–inertial odometry --- Helmert variance component estimation --- line feature matching method --- correlation coefficient --- point and line features --- mobile mapping --- manhole cover --- point cloud --- F-CNN --- transfer learning --- CAM localization --- loop closure detection --- visual SLAM --- semantic topology graph --- graph matching --- CNN features --- deep learning --- view planning --- imaging network design --- building 3D modelling --- path planning --- V-SLAM --- real-time --- guidance --- embedded-systems --- 3D surveying --- exposure control --- photogrammetry --- parking statistics --- vehicle detection --- robot operating system --- 3D camera --- RGB-D --- performance evaluation --- convolutional neural networks --- smart city --- georeferencing --- MSS --- IEKF --- DSIEKF --- geometrical constraints --- 6-DoF --- DTM --- 3D city model --- dataset --- laser scanning --- 3D mapping --- synthetic --- outdoor --- semantic --- scene completion

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