A number of studies have shown that liquidity constraints on households enhance the efficacy of fiscal and monetary policies. However, liquidity constraints are always accompanied by saving constraints, with potential opposite effects on fiscal and monetary efficacy. Research differentiating...

Many retail investment platforms have introduced artificial intelligence (AI) analysts to help individual investors gather insights and evaluate investment products. Yet, there is scant empirical effort examining the business impact of such an AI tool on individual investors' financial market...

Developing shallow geothermal energy with a borehole exchanger helps energy supply and CO 2 emission reduction . This paper comprehensively compares the influencing factors on heat transfer efficiency based on the field investigations in Linqu County, Shandong Province, China. We built a...

In order to find a feasible pretreatment method, the properties, kinetics and pyrolysis products of oxidative torrefied camellia shell (CS) have been investigated in present work. Different oxygen concentration of 0-8% have been performed in torrefaction atmosphere, and oxidative torrefaction...

The microstructure literature offers contradicting predictions on the impact of inter-trade time on price change. In this paper, a vector autoregressive (VAR) model [Dufour, A. and Engle, R.F., 2000, Time and the price impact of a trade, Journal of Finance 55, 2467-2498.] is adopted to...

Principal component analysis (PCA) is a widely adopted multivariate data analysis technique, with interpretation being established on the basis of both classical linear projection and a probability model (i.e. probabilistic PCA (PPCA)). Recently robust PPCA models, by using the multivariate...

Bid-ask spread is a direct measure of information asymmetry. As such, it can be used to evaluate information efficiency. In this paper, we show that both the quoted and effective spreads on the Shanghai Stock Exchange are extremely high at the open, decrease over the trading day, and experience...

Homogeneous Charge Compression Ignition (HCCI) combustion, also known as controlled auto-ignition (CAI), has been shown to reduce substantially NOX emissions and fuel consumption in gasoline engines. However, it is still confronted with the problem of its limited operation range. One of the...

The different locations of the equipment in urban distribution substations (DSSs) and the location of inlet holes and outlet holes usually result in different ventilation effect, which means the power consumed by any ventilating devices present is different. In this paper the temperature field...