The purpose of this essay is to give an overview of some recent workconcerning structural properties of the evolution of the forward rate curve in an arbitrage free bond market. The main problems to be discussed are as follows. 1. When is a given forward rate model consistent with a given family...

The paper presents a new method to solve DSGE models with a great number of heterogeneous agents. Using tools from systems and control theory, it is shown how to reduce the dimension of the state and the policy vector so that the reduced model approximates the original model with high precision....

The rank of the Hankel matrix, corresponding to a system transfer function, is equal to the order of its minimal state space realization. The computation of the rank of the Hankel matrix is complicated by the fact that its block elements are rarely given exactly but are estimated instead. In...

This paper develops a method to compute second-order perturbations of discretetime heterogeneous agent models. It addresses the three main tasks to make secondorder approximations tractable: state reduction, generating sufficient smoothness, and fast computation of the quadratic terms in the...

Markov decision models (MDM) used in practical applications are most often less complex than the underlying ‘true’ MDM. The reduction of model complexity is performed for several reasons. However, it is obviously of interest to know what kind of model reduction is reasonable (in regard to...

Hubs are centers for collection, rearrangement,and redistribution of commodities in transportation networks. In this paper, non-linear multi-objective formulations for single and multiple allocation hub maximal covering problems as well as the linearized versions are proposed. The formulations...

Purpose: A mathematical model is used to help determine the manufacturing capacity needed to support post-vehicle-application remanufacturing, repurposing, and recycling of lithium-ion batteries over time. Simulation is used in solving the model to estimate capacity in kWh. Lithium-ion batteries...

The paper deals with the actual problem of the functioning and development of district heating systems in the framework of the transition to intelligent energy, in which the active consumers (prosumers) holds the key place. The paper proposes an optimization mathematical model for management the...

District heating plays an important role in many countries with cold climates. District heating are local systems and in most cases, they organized as natural monopoly markets. This article examines the three variants for the formation of prices for household consumers on monopoly district...

The paper deals with the problem of operating the reliability of prosumers as part of a district heating system, taking into account overload time redundancy that they possess. This time redundancy can be both passive, caused by heat accumulating effect and use of thermal energy storages, as...