The development of the near wake of a vertical axis wind turbine is investigated by stereoscopic particle image velocimetry. The experiments are conducted in an open-jet wind tunnel on an H-shaped rotor, operated at a tip speed ratio of 4.5 and at an average chord-based Reynolds number of...

A jump diffusion model coupled with a local volatility function has been suggested by Andersen and Andreasen (2000). By generating a set of option prices assuming a jump diffusion with known parameters, we investigate two crucial challenges intrinsic to this type of model: calibration of...

In this paper we consider the fourth moment structure of a class of first-order Exponential GARCH models. This class contains as special cases both the standard Exponential GARCH model and the symmetric and asymmetric Logarithmic GARCH one. Conditions for the existence of any arbitrary moment...

This paper applies a two-stage procedure of non-parametric testing and business cycle dating techniques to examine the ripple effect of housing prices among Chinese cities since 2006. Empirical analysis indicates that housing prices fluctuations among nineteen Chinese cities do have ripple...

In the last decade, China’s photovoltaic (PV) industry has developed rapidly, with the joint promotion of the world market and domestic policies, and China has now become the largest PV manufacturer in the world. Meanwhile, the international market has responded to China’s rapid development,...

Coinciding with the start of the housing boom were large increases in home-equity lending and loan-to-equity ratios. We study this in models where housing bears a liquidity premium because it collateralizes loans. Even with fundamentals constant, since liquidity depends on beliefs,...

We study economies where houses, in addition to providing utility as shelter, may also facilitate credit transactions, since home equity can be used as collateral. We document there were big increases in home-equity-backed consumption loans coinciding with the start of the house price boom, and...

Housing, in addition to providing direct utility, facilitates credit transactions when home equity serves as collateral. We document big increases in home-equity loans coinciding with the start of the house-price boom, and suggest an explanation. When it is used as collateral, housing can bear a...

The low-grade heat sources coupled by ORC (organic Rankine cycle) are categorized into two groups. For the first one, the inlet temperature and the mass flow rate are known, and the working mass of the heat source is directly discharged after being used. For the second, the heat release is...

The LCA (life-cycle assessment) was applied to evaluate EI (the environmental impact) of ORCPW (organic Rankine cycle power-plant for waste-heat-recovery) in this paper. The model of LCA on the ORCPW was established. The life-cycle of ORCPW was divided into construction, operation and...