Search results for " Microstructure"

Congestion management rules and trading strategies in the Spanish electricity market

2009

Abstract This paper analyses the economic incentives embodied in the rules governing the resolution of transmission constraints in the Spanish wholesale electricity market and the way these incentives may have influenced on the trading behaviour of both the generators and the demand side. The evidence obtained is consistent with them responding to these incentives. In particular, buyers would respond to the way congestion costs are billed to them by abandoning the daily market in favour of the intraday market as far as possible. Additionally, some strategic generators may have been prompted the system operator to require them to inject electricity into the system to solve network congestion…

Trading Nokia: The roles of the Helsinki vs the New York stock exchanges

2004

We use the Autoregressive Conditional Duration (ACD) framework of Engle and Russell (1998) to study the effect of trading volume on price duration (ie the time lapse between consecutive price changes) of a stock listed both in the domestic and the foreign market. As a case study we use the example of Nokia's share, which is actively traded both in the Helsinki Stock Exchange and the New York Stock Exchange (NYSE). We find asymmetry in the volume-price duration relationship between the two markets. In the NYSE the negative relationship is much stronger and exists both during and outside common trading hours. Outside common trading hours no such relationship is significant in Helsinki. Based …

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…

Surface and mechanical characterization of stationary shoulder friction stir welded lap joints: experimental and numerical approach

2020

Friction Stir Welding (FSW) is one of the most used solid-state welding processes in the aeronautical, aerospace, ground transportation and naval fields. Stationary Shoulder Friction Stir Welding (SSFSW) is a recently introduced variant of the process allowing lower heat input into the joints, with beneficial effects in terms of joint mechanical properties, microstructure and top surface finish. In the paper, lap joints produced by SSFSW and made out of AA6082-T6 aluminum alloy sheets have been analyzed with the aim to investigate the effect of the stationary shoulder on the lap joints surface, metallurgical, and mechanical properties. The lap joints produced by SSFSW have been compared to …

Construction of two large-size four-plane micromegas detectors

2015

We report on the construction and initial performance studies of two micromegas detector quadruplets with an area of 0.5 m$^2$. They serve as prototypes for the planned upgrade project of the ATLAS muon system. Their design is based on the resistive-strip technology and thus renders the detectors spark tolerant. Each quadruplet comprises four detection layers with 1024 readout strips and a strip pitch of 415 $\mu$m. In two out of the four layers the strips are inclined by $\pm$1.5$^{\circ}$ to allow for the measurement of a second coordinate. We present the detector concept and report on the experience gained during the detector construction. In addition an evaluation of the detector perfor…

UNEVEN DISTRIBUTION OF ORGANOCLAY IN HDPE/PA6 BLENDS - IMPACT OF MICROSTRUCTURE AND MECHANICAL BEHAVIOUR

2009

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…

Statistical analysis of the relation between metallic microstructures and mechanical properties

2020

This thesis aims at the development of physical relations between the intricate 3D features of metallic microstructures and the mechanical properties of the material. For understanding which are the microstructural determinants of the resultingmechanical behaviour of metals, a deep quantitative characterisation of the microstructure is needed. The main steps of quantitative characterisation of the microstructures are: identification of the phases distribution and their chemical composition, study of the microstructure morphology (geometrical arrangement of grains, grain boundaries, grain orientations, grain size and grain shape). An accurate description of the microstructure features enrich…

Le figement dans le Nuovo vocabolario commerciale fraseologico de Caricati et Mariotti

2020

L’article, tout d’abord, aborde le concept de langue de spécialité ou Microlingua, l’attention se focalise ensuite sur l’analyse du Nuovo vocabolario commerciale fraseologico italiano-francese ad uso degli studenti delle scuole commerciali, dei commercianti, corrispondenti, professionisti de Caricati et Mariotti et prend en considération le traitement du figement dans la préface, dans la macrostructure et enfin dans la microstructure.

Multiscale Model Selection for High-Frequency Financial Data of a Large Tick Stock by Means of the Jensen–Shannon Metric

2014

Modeling financial time series at different time scales is still an open challenge. The choice of a suitable indicator quantifying the distance between the model and the data is therefore of fundamental importance for selecting models. In this paper, we propose a multiscale model selection method based on the Jensen–Shannon distance in order to select the model that is able to better reproduce the distribution of price changes at different time scales. Specifically, we consider the problem of modeling the ultra high frequency dynamics of an asset with a large tick-to-price ratio. We study the price process at different time scales and compute the Jensen–Shannon distance between the original…