This paper describes a flexible and tractable bottom-up dynamic correlation modelling framework with a consistent stochastic recovery specification. In this modelling framework, only the joint distributions of default indicators are determined from the calibration to the index tranches; and the...

This paper describes a flexible and tractable bottom-up dynamic correlation modelling framework with a consistent stochastic recovery specification. The stochastic recovery specification only models the first two moments of the spot recovery rate as the higher moments of the recovery rate have...

A simulation model consisting of wind speed, wind turbine and AA-CAES (advanced adiabatic compressed air energy storage) system is developed in this paper, and thermodynamic analysis on energy conversion and transfer in hybrid system is carried out. The impacts of stable wind speed and unstable...

With the increasing penetration of renewable energy into energy market, it is urgent to solve the problem of fluctuations of renewable energy sources (RES). Energy storage technology is regarded as one method to cope with the unstable nature of RES. One of these technologies is compressed air...

As the penetration of renewable energy sources (RES) into energy market is becoming increasingly evident, it is urgent to deal with the problem of fluctuations of RES. Compressed Air Energy Storage (CAES), as one of energy storage technologies aiming at this problem, has excellent...

A (2+1)-dimensional Bossinesq–Burgers soliton equation is proposed, which has a affinitive connection with the Boussinesq–Burgers soliton hierarchy. Through a natural nonlinearization of the Boussinesq–Burgers's eigenvalue problems, a finite-dimensional Hamiltonian system is obtained and...

Laboratory studies have provided evidences regarding the impacts of engine technology on vehicle emissions; however, questions remain regarding the relations between alternative vehicle fuels and on-road vehicle emissions as well as energy demands from upstream fuel production processes to...