This paper provides an empirical assessment of the power of forward guidance at different horizons, shedding new light on the strength of the "forward guidance puzzle". Our identification strategy allows us to disentangle the change in future interest rates stemming from deviations from the...

Many online platforms adopt the ad-sponsored business model, which involves offering free services to consumers while collecting their data and selling targeted advertising space to advertisers. However, collecting consumer data has raised growing privacy concerns, which may affect consumers’...

We empirically examine the effectiveness of referral marketing and price promotion in generating sales in a large e-commerce platform. Our results show that although referral marketing increases sales, its effect is attenuated by price promotion. We argue that price promotion arouses quality...

Liquid fuel cells operated at room-temperature are promising candidates for the next-generation of power sources for microelectronic devices. Enabling high-concentrated or even neat fuel operation of fuel cells, which is currently limited by adverse fuel crossover through membrane, could...

Numerical simulations were carried out to investigate the performance of shape-stabilized phase change material (SSPCM) wallboard with sinusoidal heat flux waves on the outer surface and compared with traditional building materials - brick, foam concrete and expanded polystyrene (EPS)....

The interconnection between a renewable power generation facility and a power grid poses challenges because of volatility and intermittent characteristics. Energy storage is one of the best solutions for this problem. This paper presents an integrated energy storage system (ESS) based on...

An experimental research was conducted to investigate the heat transfer characteristics of steam condensation on horizontal twisted elliptical tubes (TETs) with different structural parameters. Experiments were carried out at the steam saturation temperature of around 100.5°C with the wall...