Power industry restructuring and eco-efficiency changes:a new slacks-based model in Malmquist-Luenberger Index measurement

Measuring variations in efficiency and its extension, eco-efficiency, during a restructuring period in different industries has always been a point of interest for regulators and policy makers. This paper assesses the impacts of restructuring of procurement in the Iranian power industry on the performance of power plants. We introduce a new slacks-based model for Malmquist-Luenberger (ML) Index measurement and apply it to the power plants to calculate the efficiency, eco-efficiency, and technological changes over the 8-year period (2003-2010) of restructuring in the power industry. The results reveal that although the restructuring had different effects on the individual power plants, the overall growth in the eco-efficiency of the sector was mainly due to advances in pure technology. We also assess the correlation between efficiency and eco-efficiency of the power plants, which indicates a close relationship between these two steps, thus lending support to the incorporation of environmental factors in efficiency analysis. © 2014 Elsevier Ltd.

Poly(methyl methacrylate) model study of optical surface quality after excimer laser photorefractive keratectomy

Purpose: To evaluate lenses produced by excimer laser ablation of poly(methyl methacrylate) (PMMA) plates. Setting: University research laboratory. Methods: Two Nidek EC-5000 scanning-slit excimer laser systems were used to ablate plane-parallel plates of PMMA. The ablated lenses were examined by focimetry, interferometry, and mechanical surface profiling. Results: The spherical optical powers of the lenses matched the expected values, but the cylindrical powers were generally lower than intended. Interferometry revealed marked irregularity in the surface of negative corrections, which often had a positive “island” at their center. Positive corrections were generally smoother. These findings were supported by the results of mechanical profiling. Contrast sensitivity measurements carried out when observing through ablated lenses whose power had been neutralized with a suitable spectacle lens of opposite sign confirmed that the surface irregularities of the ablated lenses markedly reduced contrast sensitivity over a range of spatial frequencies. Conclusion: Improvements in beam delivery systems seem desirable.

Estimation of productivity in Korean electric power plants:a semiparametric smooth coefficient model

This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model heterogeneous performances across power plants and over time by allowing underlying technologies to be heterogeneous. The SPSC model accommodates both continuous and discrete covariates. Various specification tests are conducted to assess the performance of the SPSC model. Using a unique generator level panel dataset spanning the period 1995-2006, we find that the impact of load factor, generator and facility types on power generation varies substantially in terms of magnitude and significance across different plant characteristics. The results have strong implications for generation policy in Korea as outlined in this study.

A villamos energia áralakulásának egy új modellje (A new model for price movement in electric power)

A tanulmány az aukciós villamosenergia-tőzsdéken kialakuló óránkénti árak statisztikai jellemzőivel foglalkozik. Célja, hogy egyes legújabb kutatási eredmények alapján új megvilágításban mutassa be a villamos energia óránkénti árára jellemző főbb megállapításokat, amelyek a későbbiekben az ár modellezésének alapjául szolgálhatnak. A jelenségeket az EEX és Nord Pool áramtőzsdén kereskedett termékek árainak adatain szemlélteti. Látni fogjuk, hogy át kell értékelnünk több, a villamosenergia-árak statisztikai viselkedéséről alkotott meggondolást. / === / The article concerns the statistical features of the hourly prices on auction-based markets for electric power. The purpose is to use the latest research findings to present the main statements about the hourly price for electric power in a new light, so that they can serve later as a basis for price modelling. The phenomena are viewed through the price data of products traded on the EEX and Nord Pool power exchanges. It emerges that several ideas about the statistical behaviour of electric power prices have to be reviewed.

Szimulációk és érzékenységvizsgálatok a magyar gazdaság egy középméretű makromodelljével = Simulations and sensitivity analyses with a medium-sized macro model of the Hungarian economy

A tanulmányban a Pénzügyminisztérium gazdaságpolitikai főosztálya és az MTA Közgazdaságtudományi Intézete által kifejlesztett középméretű negyedéves makrogazdasági modell segítségével elemezzük a magyar gazdaság legfontosabb mechanizmusait. A modellezés során követett alapelvek és a modell blokkjainak bemutatása után egy forgatókönyv-elemzés keretében vizsgáljuk a makrogazdasági és költségvetési folyamatokat befolyásoló főbb faktorok hatásait. A - tágan értelmezett - "bizonytalansági tényezőket" három csoportba soroljuk: megkülönböztetjük a külső környezet (például árfolyam) változását, a gazdasági szereplők viselkedésében rejlő bizonytalanságokat (például a bérigazodás sebességének vagy a fogyasztássimítás mértékének bizonytalanságát), valamint a gazdaságpolitikai lépéseket (például állami bérek emelését). Megmutatjuk, hogy e kockázatok makrokövetkezményei nem függetlenek egymástól, például egy árfolyamváltozás hatását befolyásolja a bérigazodás sebessége. ______ This paper analyses the most important mechanisms of the Hungarian economy using a medium-sized quarterly macroeconomic model developed jointly by the Economic Policy Department of the Ministry of Finance and the Institute of Economics of the Hungarian Academy of Sciences. After introducing the fundamental principles of modelling and the building blocks of the model investigated, within a scenario analysis, the authors present the effects of the main factors behind the macroeconomic and budgetary processes. The sources of uncertainty - defined in a broad sense - are categorized in three groups: change in the external environment (e.g. the exchange rate), uncertainties in the behav-iour of economic agents (e.g. in speed of wage adjustment or extent of consumption smoothing), and economic policy decisions (e.g. the increase in public sector wages). The macroeconomic consequences of these uncertainties are shown not to be independent of each other. For instance, the effects of an exchange rate shock are influenced by the speed of wage adjustment.

Survey on demand side sensitivity to power quality in Ireland

Power systems require a reliable supply and good power quality. The impact of power supply interruptions is well acknowledged and well quantified. However, a system may perform reliably without any interruptions but may have poor power quality. Although poor power quality has cost implications for all actors in the electrical power systems, only some users are aware of its impact. Power system operators are much attuned to the impact of low power quality on their equipment and have the appropriate monitoring systems in place. However, over recent years certain industries have come increasingly vulnerable to negative cost implications of poor power quality arising from changes in their load characteristics and load sensitivities, and therefore increasingly implement power quality monitoring and mitigation solutions. This paper reviews several historical studies which investigate the cost implications of poor power quality on industry. These surveys are largely focused on outages, whilst the impact of poor power quality such as harmonics, short interruptions, voltage dips and swells, and transients is less well studied and understood. This paper examines the difficulties in quantifying the costs of poor power quality, and uses the chi-squared method to determine the consequences for industry of power quality phenomenon using a case study of over 40 manufacturing and data centres in Ireland.

Guiding public protest: assessing the propaganda model of China’s hybrid newspaper industry

This dissertation presents an account and analysis of published mainland Chinese media coverage surrounding three major events of public protest during the Hu-Wen era (2003-2013). The research makes a qualitative analysis of printed material drawn from a range of news outlets, differentiated by their specific political and commercial affiliations. The goal of the research is to better understand the role of mainstream media in social conflict resolution, a hitherto under-studied area, and to identify gradations within the ostensibly monolithic mainland Chinese media on issues of political sensitivity. China’s modern media formation displays certain characteristics of Anglophone media at its hyper-commercialised, populist core. However, the Chinese state retains an explicit, though often ambiguous, remit to engage with news production. Because of this, Chinese newspapers are often assumed to be one-dimensional propaganda ‘tools’ and, accordingly, easily dismissed from analyses of public protest. This research finds that, in an area where political actors have rescinded their monopoly on communicative power, a result of both policy decisions and the rise of Internet-based media platforms, established purveyors of news have acquired greater latitude to report on hitherto sensitive episodes of conflict but do so under the burden of having to correctly guide public opinion. The thesis examines the discursive resources that are deployed in this task, as well as reporting patterns which are suggestive of a new propaganda approach to handling social conflict within public media. Beside the explicitly political nature of coverage of protest events, the study sheds lights on gradations within China’s complex, hybrid media landscape both in terms of institutional purpose and qualitative performance.

A revised L-band radio-brightness sensitivity to extreme winds under tropical cyclones: The 5 year SMOS-Storm database

Five years of SMOS L-band brightness temperature data intercepting a large number of tropical cyclones (TCs) are analyzed. The storm-induced half-power radio-brightness contrast (ΔI) is defined as the difference between the brightness observed at a specific wind force and that for a smooth water surface with the same physical parameters. ΔI can be related to surface wind speed and has been estimated for ~ 300 TCs that intercept with SMOS measurements. ΔI, expressed in a common storm-centric coordinate system, shows that mean brightness contrast monotonically increases with increased storm intensity ranging from ~ 5 K for strong storms to ~ 24 K for the most intense Category 5 TCs. A remarkable feature of the 2D mean ΔI fields and their variability is that maxima are systematically found on the right quadrants of the storms in the storm-centered coordinate frame, consistent with the reported asymmetric structure of the wind and wave fields in hurricanes. These results highlight the strong potential of SMOS measurements to improve monitoring of TC intensification and evolution. An improved empirical geophysical model function (GMF) was derived using a large ensemble of co-located SMOS ΔI, aircraft and H*WIND (a multi-measurement analysis) surface wind speed data. The GMF reveals a quadratic relationship between ΔI and the surface wind speed at a height of 10 m (U10). ECMWF and NCEP analysis products and SMOS derived wind speed estimates are compared to a large ensemble of H*WIND 2D fields. This analysis confirms that the surface wind speed in TCs can effectively be retrieved from SMOS data with an RMS error on the order of 10 kt up to 100 kt. SMOS wind speed products above hurricane force (64 kt) are found to be more accurate than those derived from NWP analyses products that systematically underestimate the surface wind speed in these extreme conditions. Using co-located estimates of rain rate, we show that the L-band radio-brightness contrasts could be weakly affected by rain or ice-phase clouds and further work is required to refine the GMF in this context.

Property cash flow studies : focusing on model consistency and data accuracy

The high degree of variability and inconsistency in cash flow study usage by property professionals demands improvement in knowledge and processes. Until recently limited research was being undertaken on the use of cash flow studies in property valuations but the growing acceptance of this approach for major investment valuations has resulted in renewed interest in this topic. Studies on valuation variations identify data accuracy, model consistency and bias as major concerns. In cash flow studies there are practical problems with the input data and the consistency of the models. This study will refer to the recent literature and identify the major factors in model inconsistency and data selection. A detailed case study will be used to examine the effects of changes in structure and inputs. The key variable inputs will be identified and proposals developed to improve the selection process for these key variables. The variables will be selected with the aid of sensitivity studies and alternative ways of quantifying the key variables explained. The paper recommends, with reservations, the use of probability profiles of the variables and the incorporation of this data in simulation exercises. The use of Monte Carlo simulation is demonstrated and the factors influencing the structure of the probability distributions of the key variables are outline. This study relates to ongoing research into functional performance of commercial property within an Australian Cooperative Research Centre.