Az extrém ármozgások statisztikai jellemzői a magyar áramtőzsdén (The statistical characteristics of extreme price movements in the Hungarian power exchange)

2010. július 20-án megkezdte működését a magyar áramtőzsde, a HUPX. 2010. augusztus 16-án az első napokban tapasztalt 45-60 euró megawattórás ár helyett egyes órákban 2999 eurós árral szembesültek a piaci szereplők. A kiemelkedően magas árak megjelenése nem szokatlan az áramtőzsdéken a nemzetközi tapasztalatok szerint, sőt a kutatások kiemelten foglalkoznak az ún. ártüskék okainak felkutatásával, valamint megjelenésük kvantitatív és kvalitatív elemzésével. A cikkben a szerző bemutatja, milyen eredmények születtek a kiugró árak statisztikai vizsgálatai során a szakirodalomban, illetve azok következtetései hogyan állják meg a helyüket a magyar árak idősorát figyelembe véve. A szerző bemutat egy modellkeretet, amely a villamosenergia-árak viselkedését a hét órái szerint periodikusan váltakozó paraméterű eloszlásokkal írja le. A magyar áramtőzsde rövid története sajnos nem teszi lehetővé, hogy a hét minden órájára külön áreloszlást illeszthessünk. A szerző ezért a hét óráit két csoportba sorolja az ár eloszlásának jellege alapján: az ártüskék megjelenése szempontjából kockázatos és kevésbé kockázatos órákba. Ezután a HUPX-árak leírására felépít egy determinisztikus, kétállapotú rezsimváltó modellt, amellyel azonosítani lehet a kockázatos és kevésbé kockázatos órákat, valamint képet kaphatunk az extrém ármozgások jellegéről. / === / On 20th July, 2010 the Hungarian Power Exchange, the HUPX started its operation. On 16th August in certain hours the markets participants faced € 2,999 price instead of in the first days experienced 45-60 euros/mwh. According to the international experiences the appearance of the extremely high prices hasn’t been unusual in the power exchanges, the researches have focused exploring the causes of the so-called spikes and quantitative and qualitative analysis of those appearances. In this article the author describes what results were determined on statistical studies of outstanding prices in the literature, and how their conclusions stand up into account the time series of the Hungarian prices. The author presents a model framework which describes the behavior of electricity prices in the seven hours of periodically varying parameters. Unfortunately the brief history of the Hungarian Power Exchange does not allow to suit specific prices for each hour of week. Therefore the author classifies the hours of the week in the two groups based on the nature of price dispersion: according to the appearance of spikes to risky and less risky classes. Then for describing the HUPX prices the author builds a deterministic two-state, regime-changing model, which can be identified the risky and less risky hours, and to get a picture of the nature of extreme price movements.

A mérsékelt iszlamista mozgalmak szerepe az "arab tavaszt" követő politikai átmenetben (The Role of Moderate Islamist Movements in the Political Transition Following the Arab Spring)

Up to January 2011 authoritarian political regimes in the Middle East had widely been considered stable due to the armed forces, the underdeveloped political institutions, the economic embeddedness of the regimes, the neo-patrimonial structure of the Arab societies and, eventually the characteristics of Islam. Middle Eastern political systems are often considered to belong to a special sub-group of non-democratic regimes called “liberalized autocracies”. The 2011 events show that there is a new, as yet non-defined political structure emerging. Although there are different interpretations of the developments, there is a consensus on the determinant role of the Islamist organizations in the development of the new political structure. The results of the Egyptian and Tunisian parliamentary elections show that the secular political parties could not attract the public, while in Tunisia the long forbidden Hizb an-Nahda could form a government. In Egypt Hizb al-Hurriya established by the Muslim Brotherhood in 2011 won almost half of the parliamentary mandates, and to a great surprise, the Salafi Hizb an-Nour also received 24.3% of the votes. On the basis of the above developments the thesis of the Islamist re-organization of the Middle East, i.e. of a new wave of Islamism was elaborated, according to which the main political winners of the revolts in the Arab countries are the Islamist organizations, which could step in and fill in the political vacuum. While some speak of an Islamist autumn or Islamist winter as the result of the Arab Spring, others prefer the term Islamic revolutions.

Islamist movements at crossroads: the choice between ideology and context-driven approach to politics. Case study on the Hashemite Kingdom of Jordan

The aim of the paper is to analyse the ongoing transformation process within the Islamist movements using the example of the moderate Islamic Action Front party in Jordan. The dilemma of participation in the 2010 general elections raised tensions between the Muslim Brotherhood in Jordan and its political wing, the Islamic Action Front, and between doves and hawks of the same organizations. Internal debate on the future has started recently among different groups within the Islamist movement in Jordan. The research is based on the author‘s recent field experience in Jordan (April–July 2010, Andrew W. Mellon Fellowship at the American Centre of Oriental Research, Amman, Jordan). The author also conducted research in Syria, Lebanon, Palestine and Egypt, where several interviews were carried out with leading and lower level Islamist politicians. The dynamic changes within Islamic Action Front Party in Jordan and its relation with the regime has been used as reference point. The main question of the research was aa how the changing political and regional context shapes decisions of the Islamist with special attention to the acceptance of democratic values and human rights, political participation, and the meanings of Islamic values in the 21st century, possible cooperation with secular parties/movements/the regime.