1000 resultados para bivariate processes


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The effects of potential sea level rise on the shoreline and shore environment have been briefly examined by considering the interactions between sea level rise and relevant coastal processes. These interactions have been reviewed beginning with a discussion of the need to reanalyze previous estimates of eustatic sea level rise and compaction effects in water level measurement. This is followed by considerations on sea level effects on coastal and estuarine tidal ranges, storm surge and water level response, and interaction with natural and constructed shoreline features. The desirability to reevaluate the well known Bruun Rule for estimating shoreline recession has been noted. The mechanics of ground and surface water intrusion with reference to sea level rise are then reviewed. This is followed by sedimentary processes in the estuaries including wetland response. Finally comments are included on some probable effects of sea level rise on coastal ecosystems. These interactions are complex and lead to shoreline evolution (under a sea level rise) which is highly site-specific. Models which determine shoreline change on the basis of inundation of terrestrial topography without considering relevant coastal processes are likely to lead to erroneous shoreline scenarios, particularly where the shoreline is composed of erodible sedimentary material. With some exceptions, present day knowledge of shoreline response to hydrodynamic forcing is inadequate for long-term quantitative predictions. A series of interrelated basic and applied research issues must be addressed in the coming decades to determine shoreline response to sea level change with an acceptable degree of confidence. (PDF contains 189 pages.)

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This paper models the mean and volatility spillovers of prices within the integrated Iberian and the interconnected Spanish and French electricity markets. Using the constant (CCC) and dynamic conditional correlation (DCC) bivariate models with three different specifications of the univariate variance processes, we study the extent to which increasing interconnection and harmonization in regulation have favoured price convergence. The data consist of daily prices calculated as the arithmetic mean of the hourly prices over a span from July 1st 2007 until February 29th 2012. The DCC model in which the variances of the univariate processes are specified with a VARMA(1,1) fits the data best for the integrated MIBEL whereas a CCC model with a GARCH(1,1) specification for the univariate variance processes is selected to model the price series in Spain and France. Results show that there are significant mean and volatility spillovers in the MIBEL, indicating strong interdependence between the two markets, while there is a weaker evidence of integration between the Spanish and French markets. We provide new evidence that the EU target of achieving a single electricity market largely depends on increasing trade between countries and homogeneous rules of market functioning.