This paper considers the problem of estimating a simultaneous spatial autoregressive model (SSAR). We propose using the quasi maximum likelihood method to estimate the model. The asymptotic properties of the maximum likelihood estimator including consistency and limiting distribution are...

Recent studies have coupled blade element momentum (BEM) theory with the Reynolds Averaged Navier–Stokes equations in computational fluid dynamics (CFD) software, as the BEM-CFD method to analyse the flows in marine current turbines is with much less computational resources. The accuracy of...

This paper reports on the development of a two-dimensional, fully nonlinear CFD (Computational Fluid Dynamics) model with dynamic mesh to analyze the performance of a heave-only floating OWC (oscillating water column) device. The model was validated against previous experimental, analytical and...

Purpose – The “supply-side effect” brought about by the imperfection of the capital market has increasingly been concerned. The purpose of this paper is to study how will the uncertainty of equity financing brought about by the equity financing regulations in emerging capital market affect...

Provincial income disparity in China has been increasing with rapid economic growth, yet the measurement of the causes of the divergence is relatively inadequate. Based on growth regression analysis and “counterfactual econometrics”, this paper constructs “counterfactual” relative per...

Demand Response (DR) is one of the typical methods for optimizing load characteristics in power systems. Utilities offer DR schemes to generate incentives toward consumers’ power consumption behavior for load optimization. In tariff planning, power consumption variation is an important issue...

We study a factor-augmented vector autoregression model to estimate the effects of changes in U.S. monetary policy, as well as changes in U.S. policy uncertainty, on the Chinese economy. We find that since the Great Recession, a decline in the U.S. policy rate would result in a significant...

The present work introduces an approach to predict the nitrogen oxides (NOx) emission characteristics of a large capacity pulverized coal fired boiler with artificial neural networks (ANN). The NOx emission and carbon burnout characteristics were investigated through parametric field...

We examine the joint predictability of return and cash flow within a present value framework, by imposing the implications from a long-run risk model that allow for both time-varying volatility and volatility uncertainty. We provide new evidence that the expected return variation and the...