Global self-weighted and local quasi-maximum exponential likelihood estimators for ARMA--GARCH/IGARCH models

This paper investigates the asymptotic theory of the quasi-maximum exponential likelihood estimators (QMELE) for ARMA--GARCH models. Under only a fractional moment condition, the strong consistency and the asymptotic normality of the global self-weighted QMELE are obtained. Based on this self-weighted QMELE, the local QMELE is showed to be asymptotically normal for the ARMA model with GARCH (finite variance) and IGARCH errors. A formal comparison of two estimators is given for some cases. A simulation study is carried out to assess the performance of these estimators, and a real example on the world crude oil price is given.Comment: Published in at http://dx.doi.org/10.1214/11-AOS895 the Annals of Statistics (http://www.imstat.org/aos/) by the Institute of Mathematical Statistics (http://www.imstat.org

Rapid, Robust, and Reliable Blind Deconvolution via Nonconvex Optimization

We study the question of reconstructing two signals $f$ and $g$ from their convolution $y = f\ast g$. This problem, known as {\em blind deconvolution}, pervades many areas of science and technology, including astronomy, medical imaging, optics, and wireless communications. A key challenge of this intricate non-convex optimization problem is that it might exhibit many local minima. We present an efficient numerical algorithm that is guaranteed to recover the exact solution, when the number of measurements is (up to log-factors) slightly larger than the information-theoretical minimum, and under reasonable conditions on $f$ and $g$. The proposed regularized gradient descent algorithm converges at a geometric rate and is provably robust in the presence of noise. To the best of our knowledge, our algorithm is the first blind deconvolution algorithm that is numerically efficient, robust against noise, and comes with rigorous recovery guarantees under certain subspace conditions. Moreover, numerical experiments do not only provide empirical verification of our theory, but they also demonstrate that our method yields excellent performance even in situations beyond our theoretical framework

Effects of contract strategy on interpersonal relations and project outcomes of public-sector construction contracts in Australia

© 2014 American Society of Civil Engineers. Hitherto, it is not known if the integration of relationship concepts into traditional public-sector construction contracts would improve project performance. This study hence examines the effects of contract strategies on project outcomes and relationship quality in the context of public-sector construction projects in Sydney, Australia. It also identifies the relational contracting (RC) practices that are in place when certain contract strategies are adopted. Using a two-pronged research design, data were first collected from public owners and private contractors and consultants through a questionnaire survey. The data were analyzed and the results were then validated by interviews. Correlation analysis shows that cost performance, client satisfaction, and relationship quality among contracting parties are significantly correlated with contract strategies. The findings indicate the important role that contract strategies play in project outcomes and interpersonal relationship. Among the 20 RC practices that are significantly correlated with contract strategies, 16 of them are related to clients and consultants, suggesting their important role in setting the tone of the relationship in a project

Loss of ATF3 exacerbates liver damage through the activation of mTOR/p70S6K/ HIF-1α signaling pathway in liver inflammatory injury.

Activating transcription factor 3 (ATF3) is a stress-induced transcription factor that plays important roles in regulating immune and metabolic homeostasis. Activation of the mechanistic target of rapamycin (mTOR) and hypoxia-inducible factor (HIF) transcription factors are crucial for the regulation of immune cell function. Here, we investigated the mechanism by which the ATF3/mTOR/HIF-1 axis regulates immune responses in a liver ischemia/reperfusion injury (IRI) model. Deletion of ATF3 exacerbated liver damage, as evidenced by increased levels of serum ALT, intrahepatic macrophage/neutrophil trafficking, hepatocellular apoptosis, and the upregulation of pro-inflammatory mediators. ATF3 deficiency promoted mTOR and p70S6K phosphorylation, activated high mobility group box 1 (HMGB1) and TLR4, inhibited prolyl-hydroxylase 1 (PHD1), and increased HIF-1α activity, leading to Foxp3 downregulation and RORγt and IL-17A upregulation in IRI livers. Blocking mTOR or p70S6K in ATF3 knockout (KO) mice or bone marrow-derived macrophages (BMMs) downregulated HMGB1, TLR4, and HIF-1α and upregulated PHD1, increasing Foxp3 and decreasing IL-17A levels in vitro. Silencing of HIF-1α in ATF3 KO mice ameliorated IRI-induced liver damage in parallel with the downregulation of IL-17A in ATF3-deficient mice. These findings demonstrated that ATF3 deficiency activated mTOR/p70S6K/HIF-1α signaling, which was crucial for the modulation of TLR4-driven inflammatory responses and T cell development. The present study provides potential therapeutic targets for the treatment of liver IRI followed by liver transplantation