How damaging are uncertainty shocks during extreme events such as the great recession and the Covid-19 outbreak? Can monetary policy limit output losses in such situations? We use a nonlinear VAR framework to document the large response of real activity to a financial uncertainty shock during...

In order to verify the effects of machine learning in a market structure, an evolutionary model containing firms that use a genetic algorithm to decide their investment in innovative R&D was developed. These firms share the market, with two other types of firms, those with a fixed rate of...

This study presents an improvement to the mean-variance portfolio optimization model, by considering both the integer transaction lots and a robust estimator of the covariance matrices. Four robust estimators were tested, namely the Minimum Covariance Determinant, the S, the MM, and the...

Energy required by remote village areas can be met quite reliably by hybrid energy technologies. The project under consideration is for electrifying a group of three villages in Kollegal block of Chamarajanagar district, Karnataka State in India using an off-grid hybrid renewable energy system....

This paper, intended for researchers, introduces a stochastic method for calculating the optimal tax schedule based on taxpayer utility, population skill distribution, and wages. It implements and extends the classic approach to optimal income tax calculation introduced by J.A. Mirrlees. A...

Nowadays, attractions are focused on Stirling engines because of their low noise, external combustion, and the possibility of employing solar energy. These engines can be designed and applied in cases of low or high-temperature differences, as needed. Evidently, the cylinder’s layouts and how...

One of the top priorities in the building design process is minimizing energy consumption. Moreover, the level of occupants' comfort directly affects their learning ability Therefore, this paper uses a multi-objective approach to optimize the architectural design features, including some newly...

Extreme learning machine (ELM) allows for fast learning and better generalization performance than conventional gradient-based learning. However, the possible inclusion of non-optimal weight and bias due to random selection and the need for more hidden neurons adversely influence network...