Search results for " Microstructure"
showing 10 items of 105 documents
Haven on Earth? Dynamic Connections between Gold and Stock Markets in Turbulent Times
2017
We find that exogenous structural shocks caused by terrorist attacks, wars, political turmoil and gold market specific events have a strong role to play in the analysis of dynamic relationships between gold and stock market returns. Our main finding is that the interaction between the gold market and stock market is much tighter than previously observed. Especially some of the gold market specific shocks have long lasting impacts also on the financial markets. Also some events, which may have been miss-interpreted as minor shocks previously, have in fact had significant impacts on both stock and gold markets. Furthermore, the dynamic correlations between all the analyzed financial sectors i…
The effectiveness of several market integration measures when facing a market turmoil
2003
Many market integration measures are operationalized to compute their numerical values during a period characterized by the lack of stability and market turmoil. The results of the tests give their degree of effectiveness, and reveal that the measures based on the principles of asset valuation, versus statistical measures, more clearly yield the level of integration of financial markets. Besides, cross market arbitrage-linked measures and equilibrium models-linked measures provide complementary information and reflect different properties, and consequently, both types of measures may be useful in practice.
Trading activity and price impact in parallel markets: SETS vs. off-book market at the London Stock Exchange
2011
We empirically study the trading activity in the electronic on-book segment and in the dealership off-book segment of the London Stock Exchange, investigating separately the trading of active market members and of other market participants which are non-members. We find that (i) the volume distribution of off-book transactions has a significantly fatter tail than the one of on-book transactions, (ii) groups of members and non-members can be classified in categories according to their trading profile (iii) there is a strong anticorrelation between the daily inventory variation of a market member due to the on-book market transactions and inventory variation due to the off-book market transac…
High-Frequency Data
2010
We introduce some of the most common types of high-frequency financial data: tick-by-tick data, trade and quote data, order book data, and market member data. We describe the types of variables that are usually available in the most popular high-frequency financial databases. We discuss the issues related to the handling of these data, including cleaning protocols, timing issues, and issues related to data size. We then briefly consider the issues related to the stylized facts detected in the empirical analysis of high-frequency data. Specifically, we consider (i) the irregular temporal spacing of the events at high frequency and its relevance for the econometric modeling of financial varia…
Oxidation of nanocrystalline aluminum by variable charge molecular dynamics
2010
International audience; We investigate the oxidation of nanocrystalline aluminum surfaces using molecular dynamics (MD) simulations with the variable charge model that allows charge dynamically transfer among atoms. The interaction potential between atoms is described by the electrostatic plus (Es+) potential model, which is composed of an embedded atom method potential and an electrostatic term. The simulations were performed from 300 to 750K on polycrystalline samples with a mean grain size of 5 nanometers. We mainly focused on the effect of the temperature parameter on the oxidation kinetic. The results show that, beyond a first linear regime, the kinetics follow a direct logarithmic law…
Engineering the crack path in lattice cellular materials through bio-inspired micro-structural alterations
2019
Abstract A computational study on the fracture behaviour of bio-inspired finite-size lattice configurations is performed in this work. The study draws inspiration from recent investigations aimed at increasing the fracture energy of some materials through small modifications of their microstructure. The main question here is whether it is possible, to some extent, to engineer the crack path in metallic cellular materials through such small micro-structural modifications and how to quantify the effect of alternative strategies. Nature provides several examples of strategies used to delay or arrest damage and crack propagation. One striking example is given by the micro-architecture of severa…
Local electrochemical impedance spectroscopy study of the influence of ageing in air and laser shock processing on the micro-electrochemical behaviou…
2011
International audience; In the present paper, the micro-electrochemical behaviour of AA2050-T8 in 0.1 M NaCl was first studied after polishing by means of local electrochemical impedance spectroscopy and field-emission scanning electron microscopy/electron dispersive spectroscopy (FE-SEM/EDS). The influence of ageing in air and LSP was then investigated. Ageing in air for three months led to an increase in the charge transfer resistance. This was clearly observed in sites surrounding constituent particles where the charge transfer resistance was in the order of 1 MΩ cm2 (instead of 10-3 MΩ cm2 after polishing). Increased passivity around particles was confirmed from FE-SEM/EDS analysis. On …
Beta forging of Ti-6Al-4V: Microstructure evolution and mechanical properties
2013
Titanium alloys are finding an increasing use in the aeronautical field, due to their characteristics of high mechanical properties, lightness and corrosion resistance. Moreover these alloys are compatible with the carbon fibre reinforced plastics that are also finding a wide use in the aeronautical field. On the other hand the use of these alloys implies some drawbacks, for example titanium alloys are often considered more difficult to form and generally have less predictable forming characteristics than other metallic alloys such as steel and aluminum. In this paper was studied both the microstructure evolution and the mechanical properties of a Ti-6Al-4V rolled bar after hot forging. The…
Mechanical and microstructural characterization of friction stir welded skin and stringer joints
2013
A microstructural and mechanical investigation on lap joints welded by friction stir welding and made out of a 7075-T6 stringer and a 2024-T4 skin is presented. In particular, the metallurgical and mechanical properties of joints have been studied at different tool feed rates (V = 35, 50, 100 mm/min) and constant rotation speed (R = 500 r/min). Temperature distributions have been monitored during the process. It is found that in the welded area, the recrystallized zone (nugget) has an average grain size of about 3 µm and exhibits coarsened MgZn2 particles on grain boundaries. The maximum values of microhardness in the welded skin increase with the process temperature, while they just sligh…
FSW of AA2139-T8 Butt joints for aeronautical applications
2011
The effect of process parameters on mechanical and microstructural properties of AA 2139 T8 joints produced by friction stir welding (FSW) was analysed by means of statistical tools. Three different parameters were taken into account: angular speed ( ω), welding speed ( va), and plunging depth ( p); each of them was varied on three levels. Forces and temperatures achieved during the welding were monitored and analysed for all joints. An accurate microstructural analysis was performed: the occurrence of some remarkable defects, typical of FSW, such as tunnel or lack of penetration, was related to actual process parameters adopted. The extension of each FSW characteristic zone was measured a…