Modeling precipitation and its effect on recrystallization during hot strip rolling of niobium steels

Using a physically based model, the microstructural evolution of Nb microalloyed steels during rolling in SSAB Tunnplåt’s hot strip mill was modeled. The model describes the evolution of dislocation density, the creation and diffusion of vacancies, dynamic and static recovery through climb and glide, subgrain formation and growth, dynamic and static recrystallization and grain growth. Also, the model describes the dissolution and precipitation of particles. The impeding effect on grain growth and recrystallization due to solute drag and particles is accounted for. During hot strip rolling of Nb steels, Nb in solid solution retards recrystallization due to solute drag and at lower temperatures strain-induced precipitation of Nb(C,N) may occur which effectively retard recrystallization. The flow stress behavior during hot rolling was calculated where the mean flow stress values were calculated using both the model and measured mill data. The model showed that solute drag has an essential effect on recrystallization during hot rolling of Nb steels.

Review of the literature on credit risk modeling : development of the past 10 years

This paper traces the developments of credit risk modeling in the past 10 years. Our work can be divided into two parts: selecting articles and summarizing results. On the one hand, by constructing an ordered logit model on historical Journal of Economic Literature (JEL) codes of articles about credit risk modeling, we sort out articles which are the most related to our topic. The result indicates that the JEL codes have become the standard to classify researches in credit risk modeling. On the other hand, comparing with the classical review Altman and Saunders(1998), we observe some important changes of research methods of credit risk. The main finding is that current focuses on credit risk modeling have moved from static individual-level models to dynamic portfolio models.