Search results for "Stability"
showing 10 items of 3085 documents
System Stability of a Small Island's Network with Different Levels of Wind Power Penetration
2018
The reduction of the inertial response of the generation system has been one of the main obstacles to the penetration of high sharing of renewable energy sources in islanded systems. This issue can be solved thanks to innovative control that makes wind turbines able to provide the so-named synthetic inertia. The paper investigates some scenarios with different levels of wind power penetration in a small island whose grid is not supplied by the main grid, by the use of the software NEPLAN 360, simulating the wind power plants accordingly to the standard IEC 61400-27. The aim of the paper is to assess the maximum level of penetration in the island of wind generation, with traditional control …
How does monetary policy respond to the dynamics of the shadow banking sector?
2020
We investigate the response of the central bank to the change in size of non-bank financial intermediaries. Using quarterly data for the U.S. over the period 1946:Q1-2016Q4, we find that when faced with an increase in the asset growth of the securities' brokers and dealers and the shadow banking sector, the monetary authority reacts by raising the short-term nominal interest rate. This response is stronger in the case of sharp variation in the size of the balance sheet of nonbank financial intermediaries. From a policy perspective, our study suggests that an extended version of the original Taylor rule - embedding both price stability and financial stability concerns – provides a good chara…
The role of the financial system in the growth–inflation link: the OECD experience
2004
Abstract This paper jointly estimates the effects of financial development and inflation on growth using both cross-section and time-series dimensions of the data on inflation, growth, and some banking and stock market indicators over the period 1961–1993 for a sample of OECD countries. Overall, the results indicate, first, that the long-run costs of inflation are not explained by policies of financial repression and, second, that if inflation affects growth through its interaction with financial market conditions, this is not the only (nor the most important) channel.
Change of regime and Phillips curve stability: The case of Spain, 1964–2002
2007
Following the emergence of the Lucas critique, traditional Phillips curves relating inflation to a measure of the level of activity, and augmented to include past inflation (assumed to proxy expected inflation), have been deemed to be highly unstable over time. In this paper we try to investigate, using recent econometric developments, whether such a statement can be supported over a long time period. In the empirical application, we analyze the case of Spain along the period 1964–2002.
Inflation and the Circuit of Income
2012
This timely book uses cutting-edge research to analyse the fundamental causes of economic and financial crises, and illustrates the macroeconomic foundations required for future economic policymaking in order to avoid these crises.
Price Stability and Inflation Persistence During the International Gold Standard: The Scandinavian Case
2009
In the 1870s the three Scandinavian countries Denmark, Norway and Sweden formed the Scandinavian Currency Union. Both the adoption of gold and the monetary union were supposed to lead to price stability in and between these countries. By drawing on new indices of consumer prices the present paper offers an examination of inflation dynamics, defined as price stability and inflation persistence, in the periphery of Scandinavia during the heyday of the international gold standard.
Bank Stability: The Case of Nordic and Non-Nordic Banks in Latvia
2018
The banking industry is facing huge challenges due to technology-enabled innovation, to changes in customer preferences, to bank de-risking and to new regulatory initiatives. To go through all these changes, banks need to be stable. The present study contributes to the empirical literature by identifying the determinants of stability of banks in the Latvian Banking Industry. This study covers both bank-specific (endogenous) factors and macroeconomic (exogenous) factors that impact the stability of banks. The data set used in this study is the annual financial statements of Latvian banks operated in the period 2003-2016. Using multivariate regression analysis techniques, we found evidence th…
Delay-dependent exponential stabilization of positive 2D switched state-delayed systems in the Roesser model
2014
This paper deals with the controller synthesis for a class of positive two-dimensional (2D) switched delay systems described by the Roesser model. This kind of systems has the property that the states take nonnegative values whenever the initial boundaries are nonnegative, some delay-dependent sufficient conditions for the exponential stability of positive 2D switched systems with state delays are given. Furthermore, the design of positive state feedback controller under which the resulting closed-loop system meets the requirements of positivity and exponential stability is presented in terms of linear matrix inequalities (LMIs). An example is included to illustrate the effectiveness of the…
Network-based H∞ output feedback control for uncertain stochastic systems
2013
This paper investigates the problem of network-based Floc, output feedback control for a class of stochastic nonlinear systems. A novel model is proposed to describe the systems taken into two sides of communication channels in the network environment, which is more general than one side of communication channel. The design procedure of observer-based controller is presented, which, guarantees the asymptotic stability in the mean square of the resulting closed-loop system with an H-infinity performance. Finally, a crane example is utilized to show the effectiveness and potential of the developed techniques. Refereed/Peer-reviewed
A pseudo-Jahn–Teller model of the photochromic effect in sodium nitroprusside
2003
Abstract A new model for the photochromic effect in sodium nitroprusside Na2[Fe(CN)5(NO)]·2H2O based on the concept of the pseudo-Jahn–Teller effect is proposed. The model takes into account the electron transfer from the Fe2+ ion to the π* orbitals of the NO-ligand as well as the vibronic mixing of three electronic states of the Fe NO fragment through the non-symmetric and full-symmetric modes. The problem is solved within the adiabatic approximation. Under certain conditions the lower sheet of the adiabatic potential is shown to possess three minima with the increasing energies that correspond to the N-bound, sideways bound and O-bound NO group. The barriers between the minima are estimat…