Search results for "FLOWS"
showing 10 items of 148 documents
Decoupled solution of radial and weakly meshed distribution networks through a backward method
2008
A methodology for the analysis of radial or weakly meshed distribution systems supplying voltage dependent loads is developed. The solution process is iterative and, at each step, the loads are simulated by means of impedances. The network is divided into two sub-networks which must be solved separately and sequentially; in the first, named RP-net, only the lines resistances and the loads shunt equivalent resistances are considered; in the second, named XQ-net, only the lines reactances and the shunt equivalent reactances are taken into account. After a brief presentation of the b/f method, which is currently the most commonly used technique to solve distribution networks, the proposed meth…
Geovisualizing the sail-to-steam transition through vessel movement data
2017
International audience; Technological transitions in the maritime and port industries go along with increased transport and economic efficiency, resulting in faster movements and longer travelled distances. Yet, such transformations may also enhance disparities between winners and loosers, should they be ports or shipping companies. This research focuses on the particular case of the transition from sail to steam over the period 1890-1925, which witnesses the rapid replacement of sailing vessels, the latter concentrating 65% of the world fleet in 1890 but only 3.5% in 1925. It applies a variety of measures to compare how these two layers overlap in the network (at links and ports) and what …
Risk Profiles for Re-Profiling the Sovereign Debt of Crisis Countries
2014
This paper uses a risk-management approach to re-profile the sovereign debt of countries facing debt crises. Using scenario analysis we develop a risk measure of the sovereign's debt -- Conditional Debt-at-Risk -- and an optimization model is used to trace risk profiles that tradeoff expected cost of debt financing against the Conditional Debt-at-Risk. The risk profiles are particularly informative for crisis countries, as they allow us to identify, with high-probability, debt unsustainability. We develop risk profiles for two Eurozone countries with excessive debt, Cyprus and Italy, both in their current form and under various forms of restructuring or rescheduling, and show how to assess …
Uncertainty and cross-border banking flows
2019
Abstract While global uncertainty—measured by the VIX—has proven to be a robust global “push” factor of international capital flows, there has been no systematic study assessing the role of uncertainty in driving bilateral capital flows. This paper examines the effects of higher country-specific uncertainty on cross-border banking flows using data from the Bank for International Settlements Locational Banking Statistics. The bilateral structure of this data allows disentangling supply factors from demand factors, thereby helping identify the effect of higher uncertainty on cross-border banking flows from other confounding factors. The results of this analysis suggest that: (i) uncertainty i…
Determinants of sub-central European government debt
2017
Abstract The aim of this paper is to analyze the determinants of sub-central government debt in Europe (Italy, France, Austria, Germany, Belgium and Spain) through estimation for each State based on corresponding panel data from 1996 to 2010. Furthermore, we estimate the debt model using a joint sample, consolidating conclusions on the most influential variables in terms of public debt. A comparative analysis of institutional frameworks in Europe shows that relationships between central and sub-central tax authorities have common traits, although the extent of change in each country remains unknown. In sum, this study shows that sub-sovereign government budgets are counter-cyclical, that ec…
Fatal attraction: Using distance to measure contagion in good times as well as bad
2007
This paper proposes a new measure of contagion that is good at anticipating future vulnerabilities. Building on previous work, it uses correlations of equity markets across countries to measure contagion, but in a departure from previous practice measures contagion using the relationship of these correlations with distance. Also in contrast to previous work, our test is good at identifying periods of “positive contagion,” in which capital flows to emerging markets in a herd-like manner largely unrelated to fundamentals. Identifying such periods of “fatal attraction” is important as they provide the essential ingredients for subsequent crises and rapid outflows of capital.
The effect of episodes of large capital inflows on domestic credit
2012
This paper analyses the effect of capital inflow surges on the evolution of domestic credit. Using a panel of developed and emerging economies from 1970 to 2007, it is shown that in the two years following the beginning of a capital inflow surge the credit-to-GDP ratio increases by about 2 percentage points. The effect is reversed in the medium-term with the credit-to-GDP ratio decreased by almost 4 percentage points seven years after the initial surge. The paper also finds that the effect is different depending on the type of flows characterising the episode (debt vs. portfolio equity vs. FDI), with large capital inflows that are debt-driven having the largest effect. The results of the pa…
Financial stress and sovereign debt composition
2015
"Published online: 19 Oct 2015"
"Dynamical" interactions and gauge invariance
2009
Appreciating the classical understanding of the elementary particle the "dynamical" Poincare algebra is developed. It is shown that the "dynamical" Poincare algebra and the equations of motion of particles with arbitrary spin are gauge invariant and that gauge invariance and relativistic invariance stand on equal footings. A "dynamical" non-minimal interaction is constructed explicitly and the Rarita-Schwinger equation is considered in the framework of this "dynamical" interaction.
New Computational Fluid Dynamic Procedure to Estimate Friction and Local Losses in Coextruded Drip Laterals
2007
The design of trickle irrigation systems is crucial to optimize profitability and to warrant high values for the emission uniformity (EU) coefficient. EU depends on variation of the pressure head due to head losses along the lines and elevation changes, as well as the water temperature, and other parameters related to the emitters (manufacturer's coefficient of variation, number of emitters per plants, emitter spacing). Trickle irrigation plants are usually designed using small diameter plastic pipes (polyethylene or polyvinyl chloride). The design problem, therefore, needs to consider head losses along the lines as well as emitter discharge variations due to the manufacturer's variability.…