This study investigates the economic role of jumps in foreign currency market. We fit exchange rates by the stochastic volatility with correlated jumps (SVCJ) model, and use Markov Chain Monte Carlo (MCMC) approach to estimate the model and identify jumps in exchange rates. Our empirical...

In this paper, a novel power/refrigerating combined-system driven by the low-grade waste heat of the flue gas was introduced. It coupled a transcritical organic Rankine cycle with a vapor compression refrigeration cycle. In order to understand basic characteristics of this novel combined-system,...

Exact solutions for KdV system equations hierarchy are obtained by using the inverse scattering transform. Exact solutions of isospectral KdV hierarchy, nonisospectral KdV hierarchies and τ-equations related to the KdV spectral problem are obtained by reduction. The interaction of two solitons...

Purpose: The purpose of this paper is to study the effect of different parts (predictable and impact) of different types of speculative behavior (intraday speculation, medium-term speculation and long-term speculation) on future fluctuations in the underlying index. Design/methodology/approach:...