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

25 Pages Posted: 26 Oct 2018

See all articles by Sotiris Bersimis

Sotiris Bersimis

University of Piraeus

Stavros Antonios Degiannakis

Department of Economic and Regional Development, Panteion University of Political and Social Sciences

Dimitrios Georgakellos

University of Piraeus

Date Written: January 1, 2015

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

Suggested Citation

Bersimis, Sotiris and Degiannakis, Stavros Antonios and Georgakellos, Dimitrios, Real Time Monitoring of Carbon Monoxide Using Value-at-Risk Measure and Control Charting (January 1, 2015). Available at SSRN: https://ssrn.com/abstract=3259863 or http://dx.doi.org/10.2139/ssrn.3259863

Sotiris Bersimis

University of Piraeus ( email )

80, Karaoli & Dimitriou St.
Piraeus, Attiki 18534
Greece

Stavros Antonios Degiannakis (Contact Author)

Department of Economic and Regional Development, Panteion University of Political and Social Sciences ( email )

136 Sygrou
Athens
Greece

Dimitrios Georgakellos

University of Piraeus ( email )

Karaoli and Dimitriou 80
80 KARAOLI & DIMITRIOU STREET
Piraeus, Attiki 18534
Greece

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