This paper provides direct evidence supporting the tax-loss selling hypothesis as an explanation of the January effect. Examining turn-of-the-year return and volume patterns for municipal bond closed-end funds, which are held mostly by tax-sensitive individual investors, we document a January...

A mathematical model of the closed adsorption heat pump and cooling systems is particularly used to assist in interpreting the observed phenomena, to design the system, to predict the trends, and to assist in optimization. In this paper, various mathematical models mainly analyzing the heat and...