The adoption of renewable energy technology has received significant government support. However, there is limited empirical evidence on the effectiveness of subsidies that are used to promote the adoption of such technologies. This paper exploits a natural experimental setting, in which a solar...

This case addresses securities that allow the holders to acquire stock directly from the issuing corporation either by purchase (warrants) or by exchanging convertible debt of the corporation for its stock. One can deem warrants and convertible debt as two different types of the same category of...

We study a convertible procurement contract that combines two prevalent fixed-price and cost-plus contracts. After the project begins, the contractor may invest in more accurate cost information that can be further used as evidence to convert his initial fixed-price contract into a cost-plus...

This note demonstrates how a covariance matrix estimated using log-returns of multiple assets in their respective base currencies can be converted directly into a covariance matrix in a single common currency using basic matrix multiplication. This approach eliminates the need to compute returns...

Papua New Guinea (PNG) has faced a foreign exchange (forex) shortage since 2015. To protect reserves, the Bank of PNG has resorted to forex rationing that led to a large backlog of orders and import compression. This paper surveys the structure of PNG’s forex market and analyzes recent market...

This study rationalizes the negative HKD-USD interest rate (HIBOR-LIBOR) differentials observed after the US interest rate hike on December 17, 2015. Why do arbitragers not eliminate the differentials until parity? We first analyse two practical concerns that are typical from the perspective of...

This paper analyzes the macroeconomics of currency inconvertibility, building on the role of relative prices in a portfolio balance model. The relationship between black markets for foreign exchange and smuggling is first analyzed from the perspective of an individual importer. According to the...

The main objective of this paper is to analyze and achieve inductor core vol- ume reduction based on non-linear inductance design techniques, and to per- form a comparison of volume and efficiency among usual design techniques. The paper performs a design-oriented approach of two different...

Papua New Guinea (PNG) has faced a foreign exchange (forex) shortage since 2015. To protect reserves, the Bank of PNG has resorted to forex rationing that led to a large backlog of orders and import compression. This paper surveys the structure of PNG's forex market and analyzes recent market...

This paper analyzes regimes of currency inconvertibility in the frame-work of a simple general equilibrium model where an officially-traded good,a smuggled good and a non-traded good are produced and consumed by residents,who hold domestic and foreign currency in their portfolios. It is shown...

The recent sharp decline in the cost of renewable energy suggests that the production of hydrogen from renewable power through a Power-to-Gas process might become more economical. Here we examine this alternative from the perspective of an investor who considers a hybrid energy system that...

We present a new database of banking-crisis interventions since the 13th century. The database includes 1886 interventions in 20 categories across 138 countries, covering interventions during all of the crises identified in the main banking-crisis chronologies, while also cataloguing a large...

In a world where the means of exchange is convertible into the numeraire consumption good at a fixed rate, no one wants to hold money over time - and due to convertibility there is no means by which the Friedman rule can generate deflation. This is the environment we study in this paper in order...

Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi. This paper discusses the factors shaping the prospects...

Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Dedication -- Contents -- Acknowledgments -- About the Authors -- Introduction -- 1. Lean Implementation Methodologies -- BASICS®: How to Implement -- Method 1: Point Kaizen Events -- Why Is the Point Kaizen Approach So...

In modern technologically advanced world, power electronic based converters are extensively used. Among them DC to DC converters are majorly used in transportation system because of its increased efficiency and regenerative system. The railway traction system is eco-friendly, pollution free and...

This study is motivated by the negative HKD-USD interest rate differentials observed after the US interest rate hike on December 17, 2015. We first analyze two practical concerns that are typical from the perspective of a carry trader: (1) the difference in borrowing rate and lending rate of a...

Bitcoin is the world's leading cryptocurrency, with a market capitalization briefly exceeding $300 billion. This hints at Bitcoin's amorphous nature: Is this a monetary or a corporate measure? Hard values become explicit in the processing of transactions and the digital mining of Bitcoins....

In view of Cuk converter, a novel compensation torque swell decrease technique is proposed for brush-less DC engine (BLDCM) in this paper with renewable energies as source. Yield modes (buck-help mode and lift mode) of the Cuk converter during recompense period and typical conduction period are...

In a world where the means of exchange is convertible into the numeraire consumption good at a fixed rate, no one wants to hold money over time - and due to convertibility there is no means by which the Friedman rule can generate deflation. This is the environment we study in this paper in order...

For data center applications, we present a direct high step-down DC/DC converter designed by using switched capacitor (SC) techniques. To achieve high step-down conversion, the proposed converter connects a novel cascade ring-type converter to a traditional buck converter. Unlike existing high...

For multi-applications, a novel universal switched-capacitor (SC) converter is proposed in this paper. The proposed converter consists of a rotation-type SC converter and a full-bridge circuit. Unlike the existing universal converter consisting of a series-parallel type converter and a...

In this paper, we present an inductor-less direct ac-ac converter with improved nesting-type topology. Unlike existing direct ac-ac converters, the proposed ac-ac converter combines a voltage equalizer and a switched-capacitor (SC) simple converter. Owing to the nesting conversion using two...

Switched capacitor converter (SCC) is a power converter without magnetic components. SCCs have been used in various portable electric products such as flash memories and energy harvesting systems. Conservative SCCs separately charge and discharge their output capacitors during one operating...

For supervising, controlling the various processes in a business for an effective manufacturing system like vendor - manufacturer relationship, customer manufacturer relationship, shop floor management in the production of goods or services, Operations management plays an important role....

Currency crises are a significant feature of the present-day world economy, in which financial transactions are many times larger than monetary flows in the "real economy", so that defending a currency's exchange-rate is a major challenge for the governments of countries which may be smaller...

This paper discusses central bank digital currency (CBDC) and its potential impact on the monetary transmission mechanism. We first offer a general definition of CBDC which should make the concept accessible to a wide range of economists and policy practitioners. We then investigate how CBDC...

This paper focuses on comparison of (SEPIC) and Luo converter in grid connected hybrid system for power quality compensation. This paper presents the comparative study of the performance of both of the above two converters. In this paper, solar and wind energy are taken as main sources to supply...

We model the returns of the convertible arbitrage strategy using a non-linear framework. This strategy has generated long periods of positive returns and low volatility, followed by shorter periods of extreme negative returns and high volatility, associated with market upheaval. We specify a...

This article aims at testing empirically the performance persistence of convertible arbitrage hedge funds. The overall objective and aim of this category is the use of convertible securities. It is expected that the performance of the fund will be greater than the benchmark by using a long...

This chapter considers the law of reflux and its alternative interpretations: (1) as a monetary policy rule for stabilizing the price level and (2) as rule for individual banks to follow to remain liquid. The chapter argues that Adam Smith endorsed only the second interpretation, and that the...

The birth of Torgsin -- A golden idea -- The Torgsin empire -- The red directors of Torgsin: the political commissar -- Why did Stalin need Torgsin? -- Gold -- The red directors of Torgsin: the spy -- Silver -- Diamonds and platinum -- Send dollars to Torgsin! -- What's for sale? -- The buyers...