A model to explain inflation in China was first estimated in 1985 and is updated using annual data from 1952 to 2008. The rate of inflation is well explained by its own lag, the growth rate of the ratio of money supply to output and an error correction term. The parameters of the model remain...

In this paper, characteristics of the prices of reserves and regulation services in the Ontario, New York and ERCOT electricity markets are studied. More specifically, price variability, price jumps, long-range correlation, and non-linearity of the prices are analyzed using the available...

Purpose of this paper is to investigate whether HR slack leads to improve firm performance, and what is the impact of HR slack in absolute and in relative terms on firm performance in a developing country. It also examines how ownership types moderate the HR slack-performance relationship. The...

Floating residue (FR), a surplus by-product from the alginate extraction process, contains large amount of cellulosic materials. The technical feasibility of FR utilization as a resource of renewable energy was investigated in this paper. The production of yeast-fermentable sugars (glucose) from...

We consider a set of minimal identification conditions for dynamic factor models. These conditions have economic interpretations, and require fewer number of restrictions than when putting in a static-factor form. Under these restrictions, a standard structural vector autoregression (SVAR) with...

Micro-grids have been developed for over two decades as building blocks for future smart grids. Micro-grids have appeared with the advantages such as control flexibility, easy connection of renewable resources, high efficiency and immunity to large area blackouts. Similar to other countries,...

This paper investigates the relationship between market concentration, risk-taking, and bank performance using a unique dataset of the BRIC banks over the period 2003–2010. We find a negative association between market concentration and performance, in support of the “quiet life”...

Based on local erosion rule and fluctuations in rainfall, geology and parameters of a river channel, a generalized Langevin equation is proposed to describe the random prolongation of a river channel. This equation is transformed into the Fokker–Plank equation to follow the early evolution of...

In this paper, taking about 7 years’ high-frequency data of the Shanghai Stock Exchange Composite Index (SSEC) as an example, we propose a daily volatility measure based on the multifractal spectrum of the high-frequency price variability within a trading day. An ARFIMA model is used to...

This study analyzed the economic impacts of carbon ETS (emission trading scheme) policy among four energy intensive sectors in Guangdong province with a two-region dynamic CGE model. Five cases are considered to achieve Copenhagen target towards 2020 in Guangdong, including a reference case, two...