  This paper analyzes the effective capacity (EC) of delay constrained machine
type communication (MTC) networks operating in the finite blocklength (FB)
regime. First, we derive a closed-form mathematical approximation for the EC in
Rayleigh block fading channels. We characterize the optimum error probability
to maximize the concave EC function and study the effect of SINR variations for
different delay constraints. Our analysis reveals that SINR variations have
less impact on EC for strict delay constrained networks. We present an
exemplary scenario for massive MTC access to analyze the interference effect
proposing three methods to restore the EC for a certain node which are power
control, graceful degradation of delay constraint and joint compensation. Joint
compensation combines both power control and graceful degradation of delay
constraint, where we perform maximization of an objective function whose
parameters are determined according to delay and SINR priorities. Our results
show that networks with stringent delay constraints favor power controlled
compensation and compensation is generally performed at higher costs for
shorter packets.
