Many of the scenarios for decarbonising the European energy system involve the integration of large-scale and decentralised renewable energy sources, such as wind and solar power. However, such integration requires substantial and rapid improvements to the existing transmission grids. Using a...

Strong and huge interests on smart grid have increased extensively in recent years around the world. This scenario could be a promising reason for future research in this area. This next form of electricity grid will be able to manage various parts of power production from power plants to the...

We extend the WITCH model to consider the possibility to produce and trade electricity generated by large scale concentrated solar power plants in highly productive areas that are connected to the demand centres through High Voltage Direct Current (HVDC) cables. We find that it becomes optimal...

The statistical tools of Complex Network Analysis are of useful to understand salient properties of complex systems, may these be natural or pertaining human engineered infrastructures. One of these that is receiving growing attention for its societal relevance is that of electricity...

Many scholars have applied complex network based models to investigate power grid vulnerability, but how effective are these models to capture the real performance is an interesting topic. This paper selects two typical complex network based models, including a purely topological model (PTM) and...

This paper studies the design of optimal fiscal policy when a government that fully trusts the probability model of government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results. On the one hand, the government has an incentive...

Some methods from statistical machine learning and from robust statistics have two drawbacks. Firstly, they are computer-intensive such that they can hardly be used for massive data sets, say with millions of data points. Secondly, robust and non-parametric confidence intervals for the...

In this paper, we examine the cost of insurance against model uncertainty for the Euro area considering four alternative reference models, all of which are used for policy-analysis at the ECB.We find that maximal insurance across this model range in terms of aMinimax policy comes at moderate...