Real Time Monitoring of Carbon Monoxide Using Value-at-Risk Measure and Control Charting

Sotirios Bersimis, Stavros Degiannakis and Dimitrios Georgakellos

MPRA Paper from University Library of Munich, Germany

Abstract: One of the most important environmental health issues is air pollution, causing the deterioration of the population’s quality of life, principally in cities where the urbanization level seems limitless. Among ambient pollutants, carbon monoxide (CO) is well known for its biological toxicity. Many studies report associations between exposure to CO and excess mortality. In this context, the present work provides an advanced modelling scheme for real time monitoring of pollution data and especially of carbon monoxide pollution in city level. The real time monitoring is based on an appropriately adjusted multivariate time series model that is used in finance and gives accurate one-step-ahead forecasts. On the output of the time series, we apply an empirical monitoring scheme that is used for the early detection of abnormal increases of CO levels. The proposed methodology is applied in the city of Athens and as the analysis revealed has a valuable performance.

Keywords: Air Quality Surveillance; Atmospheric Pollution; Autoregressive Conditional Heteroskedasticity modelling; Control Charts; Diag-aVECH; Multivariate Statistical Process Monitoring; Multivariate Time Series; Value-at-Risk. (search for similar items in EconPapers)
JEL-codes: C10 C32 C4 C40 C51 C53 (search for similar items in EconPapers)
Date: 2015-01-01
New Economics Papers: this item is included in nep-ene and nep-env
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https://mpra.ub.uni-muenchen.de/65865/1/MPRA_paper_65865.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/96279/1/MPRA_paper_65865.pdf revised version (application/pdf)

Related works:
Journal Article: Real-time monitoring of carbon monoxide using value-at-risk measure and control charting (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:65865

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