Power flow based monetary flow method for electricity transmission and wheeling pricing

This paper proposes a transmission and wheeling pricing method based on the monetary flow tracing along power flow paths: the monetary flow-monetary path method. Active and reactive power flows are converted into monetary flows by using nodal prices. The method introduces a uniform measurement for transmission service usages by active and reactive powers. Because monetary flows are related to the nodal prices, the impacts of generators and loads on operation constraints and the interactive impacts between active and reactive powers can be considered. Total transmission service cost is separated into more practical line-related costs and system-wide cost, and can be flexibly distributed between generators and loads. The method is able to reconcile transmission service cost fairly and to optimize transmission system operation and development. The case study on the IEEE 30 bus test system shows that the proposed pricing method is effective in creating economic signals towards the efficient use and operation of the transmission system. (c) 2005 Elsevier B.V. All rights reserved.

Asset Price Instability and Policy Responses: The Legacy of Liberalisation

The debate about the dynamics and potential policy responses to asset inflation has intensified in recent years. Some analysts, notably Borio and Lowe, have called for 'subtle' changes to existing monetary targeting frameworks to try to deal with the problems of asset inflation and have attempted to developed indicators of financial vulnerability to aid this process. In contrast, this paper argues that the uncertainties involved in understanding financial market developments and their potential impact on the real economy are likely to remain too high to embolden policy makers. The political and institutional risks associated with policy errors are also significant. The fundamental premise that a liberalised financial system is based on 'efficient' market allocation cannot be overlooked. The corollary is that any serious attempt to stabilize financial market outcomes must involve at least a partial reversal of deregulation.

The octahedral manipulator: Geometry and mobility

In most Of the practical six-actuator in-parallel manipulators, the octahedral form is either taken as it stands or is approximated. Yet considerable theoretical attention is paid in the literature to more general forms. Here we touch on the general form, and describe some aspects of its behavior that vitiate strongly against its adoption as a pattern for a realistic manipulate,: We reach the conclusion that the structure for in-parallel manipulators must be triangulated as fully as possible, so leading to the octahedral form. In describing some of the geometrical properties of the general octahedron, we show how they apply to manipulators. We examine in detail the special configurations at which the 6 x 6 matrix of leg lines is singular presenting results from the point of view of geometry in preference to analysis. In extending and enlarging on some known properties, a few behavioral surprises materialize. In studying special configurations, we start with the most general situation, and every other case derives from this. Our coverage is more comprehensive than any that we have found. We bring to light material that is, we think, of significant use to a designer.

What role does knowledge of wildlife play in providing support for species' conservation?

Conservation of biodiversity is a complex issue. Apart from the creation of nature reserves, there is a plethora of other factors that are part of this complex web. One such factor is the public knowledge of species. Since public funding is imperative for the conservation of species and creation of reserves for them it is important to determine the public’s awareness of species and their knowledge about them. In the absence of such awareness and knowledge, it is possible that the public may misallocate their support. In other words, resources may be provided for species that do not need support urgently. We show how availability of balanced information about species helps the public to make rational decisions and to allocate support (e.g. monetary) to species that need it most. Other implications of a ‘wildlife knowledgeable’ public are also discussed.

Comparison between Eysenck's and Gray's models of personality in the prediction of motivational work criteria

Impulsivity based on Gray's [Gray, J. A. (1982) The neuropsychology of anxiety: an enquiry into the function of the septo-hippocampal system. New York: Oxford University Press: (1991). The neurophysiology of temperament. In J. Strelau & A. Angleitner. Explorations in temperament: international perspectives on theory and measurement. London. Plenum Press]. physiological model of personality was hypothesised to be more predictive of goal oriented criteria within the workplace than scales derived From Eysenck's [Eysenck. H.J. (1967). The biological basis of personality. Springfield, IL: Charles C. Thompson.] physiological model of personality. Results confirmed the hypothesis and also showed that Gray's scale of Impulsivity was generally a better predictor than attributional style and interest in money. Results were interpreted as providing support for Gray's Behavioural Activation System which moderates response to reward. (C) 2001 Elsevier Science Ltd. All rights reserved.

Open-economy central banking: Explaining Australia's recommitment to central bank independence

Why do governments offload major instruments such as monetary policy to an independent central bank? This article answers this question in relation to the Australian case, a case which reflects wider global developments. The article challenges the methodology of quantitative approaches to explaining central bank independence and instead argues that a model of 'embedded statism' is the most fruitful explanatory approach.