596 research outputs found

    LIPIcs, Volume 251, ITCS 2023, Complete Volume

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    LIPIcs, Volume 251, ITCS 2023, Complete Volum

    Current issues of the management of socio-economic systems in terms of globalization challenges

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    The authors of the scientific monograph have come to the conclusion that the management of socio-economic systems in the terms of global challenges requires the use of mechanisms to ensure security, optimise the use of resource potential, increase competitiveness, and provide state support to economic entities. Basic research focuses on assessment of economic entities in the terms of global challenges, analysis of the financial system, migration flows, logistics and product exports, territorial development. The research results have been implemented in the different decision-making models in the context of global challenges, strategic planning, financial and food security, education management, information technology and innovation. The results of the study can be used in the developing of directions, programmes and strategies for sustainable development of economic entities and regions, increasing the competitiveness of products and services, decision-making at the level of ministries and agencies that regulate the processes of managing socio-economic systems. The results can also be used by students and young scientists in the educational process and conducting scientific research on the management of socio-economic systems in the terms of global challenges

    System-wide stress testing & systemic risk

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    The financial crisis of 2007-2009, which brought the entire system at the brink of collapse, renewed efforts to guard against financial instability. A key pillar of the post-crisis regulatory toolkit is "stress testing". Stress tests provide a forward-looking examination of firms’ potential losses during severely ad- verse conditions. And enable timely action to recapitalise those firms who experience capital shortfalls in such crisis scenarios. Today’s regulatory stress tests do not heed the key lesson of the financial crisis: amplifications in the networked financial system must be taken into account to be able to assess systemic risk. Because of this, these tests are unable to assess systemic risk and ergo to address it – defeating their raison d’ˆetre. The overarching research question in this thesis is whether new building blocks – expressing the heterogeneity of institutions, contracts, markets, constraints and behaviour in the interconnected financial system – can be supplied for system-wide stress tests to better capture the endogenous amplification of shocks in order to improve the assessment of systemic risk and the evaluation of prudential policies to address financial fragility. The cornerstone of my thesis is the development of a generic network-based method, comprised of these five building blocks (i.e. institutions, contracts, markets, constraints and behaviour), for system-wide stress testing – which has gained traction from leading central banks, including the Bank of England and the European Central Bank. Using this method, I implement two data-driven models to address some of the most salient financial stability questions of today. First, we ask how the regulatory buffer size and its usability under Basel III affect systemic risk? We find that financial resilience decreases if regulatory buffers are seen to be less usable by banks. If regulatory buffers are not treated as usable, then regulatory buffers de facto act as capital requirements. In such case, if an adverse shock threatens an institution to breach its capital buffers constraints, it is forced to delever, which tends to have a destabilising effect on the financial markets. We show that the size of usable regulatory buffers that is required to maintain stability is underestimated if the interaction between exposure loss contagion, funding contagion, overlapping portfolio contagion and margin call contagion is not taken into account. Second, we inquire what the systemic implications are of the bail-in design to resolve systemically important banks? First of all, we find that the bail-in design tremendously matters for whether bail-ins can be credibly executed in system-wide financial crises and cases of large systemically impor- tant bank failures, without significantly exacerbating financial distress. Our results demonstrate that an early bail-in, strong recapitalisation and fair distribution of equity compensation by means of debt-to-equity conversion rates makes bail-in a feasible option on the table for idiosyncratic cases of bank failure and limits – but not eliminates – contagion in cases of system-wide distress. We further show that excluding run-prone, short-term debt from the application of the bail-in tool, increasing the requirements on loss absorbing debt and providing investors with certainty about the bail-in design lowers contagion in system-wide crises to manageable levels. Our findings highlight that while well-designed bail-ins could be credibly administered in system-wide crises, it is not clear that the current bail-in design is in the regime of stability. Altogether, the methods and findings of this thesis emphasise the promise that system-wide stress tests hold for regulators to efficaciously assess systemic risk and calibrate prudential policies constituting the financial architecture

    Demand Response in Smart Grids

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    The Special Issue “Demand Response in Smart Grids” includes 11 papers on a variety of topics. The success of this Special Issue demonstrates the relevance of demand response programs and events in the operation of power and energy systems at both the distribution level and at the wide power system level. This reprint addresses the design, implementation, and operation of demand response programs, with focus on methods and techniques to achieve an optimized operation as well as on the electricity consumer

    LIPIcs, Volume 261, ICALP 2023, Complete Volume

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    LIPIcs, Volume 261, ICALP 2023, Complete Volum

    The World Wide Web of Work

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    Global Labour History has rapidly gained ground as a field of study in the 21st century, attracting interest in the Global South and North alike. Scholars derive inspiration from the broad perspective and the effort to perceive connections between global trends over time in work and labour relations, incorporating slaves, indentured labourers and sharecroppers, housewives and domestic servants. Casting this sweeping analytical gaze, The World Wide Web of Work discusses the core concepts ‘capitalism’ and ‘workers’, and refines notions such as ‘coerced labour’, ‘household strategies’ and ‘labour markets’. It explores in new ways the connections between labourers in different parts of the world, arguing that both ‘globalisation’ and modern labour management originated in agriculture in the Global South and were only later introduced in Northern industrial settings. It reveals that 19th-century chattel slavery was frequently replaced by other forms of coerced labour, and it reconstructs the laborious 20th-century attempts of the International Labour Organisation to regulate labour standards supra-nationally. The book also pays attention to the relational inequality through which workers in wealthy countries benefit from the exploitation of those in poor countries. The final part addresses workers’ resistance and acquiescence: why collective actions often have unanticipated consequences; why and how workers sometimes organise massive flights from exploitation and oppression; and why ‘proletarian revolutions’ took place in pre-industrial or industrialising countries and never in fully developed capitalist societies

    Environmental Impact Assessment by Green Processes

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    Primary energy consumption around the world has been increasing steadily since the Industrial Revolution and shows no signals of slowing down in the coming years. This trend is accompanied by the increasing pollutant concentration on the Earth’s biosystems and the general concerns over the health and environmental impacts that will ensue. Air quality, water purity, atmospheric CO2 concentration, etc., are some examples of environmental parameters that are degrading due to human activities. These ecosystems can be safeguarded without renouncing industrial development, urban and economic development through the use of low environmental impact technologies instead of equivalent pollutant ones or through the use of technologies to mitigate the negative impact of high emissions technologies. Pollutant abatement systems, carbon capture technologies, biobased products, etc. need to be established in order to make environmental parameters more and more similar to the pre-industrialization values of the planet Earth. In 15 papers international scientists addressed such topics, especially combining a high academic standard coupled with a practical focus on green processes and a quantitative approach to environmental impacts

    Gulf Cooperation Council Countries’ Electricity Sector Forecasting : Consumption Growth Issue and Renewable Energy Penetration Progress Challenges

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    The Gulf Cooperation Council (GCC) countries depend on substantial fossil fuel consumption to generate electricity which has resulted in significant environmental harm. Fossil fuels also represent the principal source of economic income in the region. Climate change is closely associated with the use of fossil fuels and has thus become the main motivation to search for alternative solutions, including solar and wind energy technologies, to eliminate their reliance on fossil fuels and the associated impacts upon climate. This research provides a comprehensive investigation of the consumption growth issue, together with an exploration of the potential of solar and wind energy resources, a strict follow-up to shed light on the renewable energy projects, as currently implemented in the GCC region, and a critical discussion of their prospects. The projects foreshadow the GCC countries’ ability to comply with future requirements and spearhead the renewable energy transition toward a more sustainable and equitable future. In addition, four forecasting models were developed to analyse the future performance of GCC power sectors, including solar and wind energy resources along with the ambient temperatures, based on 40 years of historical data. These were Monte Carlo Simulation (MCS), Brownian Motion (BM), and a seasonal autoregressive integrated moving average with exogenous factors (SARIMAX) model model-based time series, and bidirectional long short-term memory (BI-LSTM) and gated recurrent unit (GRU) model-based neural networks. The MCS and BM prediction models apply a regression analysis (which describes the behaviour of an instrument) to a large set of random trials so as to construct a credible set of probable future outcomes. The MCS and BM prediction models have proven to be an exceptional investigative solution for long-term prediction for different types of historical data, including: (i) four types of fossil fuel data; (ii) three types of solar irradiance data, (iii) wind speed data; and, (iv) temperature data. In addition, the prediction model is able to cope with large volumes of historical data and different intervals, including yearly, quarterly, and daily. The simplicity of implementation is a strength of MCS and BM techniques. The SARIMAX technique applies a time series approach with seasonal and exogenous influencing factors, an approach that helps to reduce the error values and improve the overall model accuracy, even in the case of close input and output dataset lengths. This iii research proposes a forecasting framework that applies the SARIMAX model to forecast the long-term performance of the electricity sector (including electricity consumption, generation, peak load, and installed capacity). The SARIMAX model was used to forecast the aforementioned factors in the GCC region for a forecasted period of 30 years from 2021 to 2050. The experimental findings indicate that the SARIMAX model has potential performance in terms of categorisation and consideration, as it has significantly improved forecasting accuracy when compared with simpler, autoregressive, integrated, moving average-based techniques.The BI-LSTM model has the advantage of manipulating information in two opposing directions and providing feedback to the same outputs via two different hidden layers. A BI-LSTM’s output layer concurrently receives information from both the backward and forward layers. The BI-LSTM prediction model was designed to predict solar irradiance which includes global horizontal irradiance (GHI), direct normal irradiance (DNI), and diffuse horizontal irradiance (DHI) for the next 169 hours. The findings demonstrate that the BI-LSTM model has an encouraging performance in terms of evaluation, with considerable accuracy for all three types of solar irradiance data from the six GCC countries. The model can handle different sizes of sequential data and generates low error metrics. The GRU prediction model automatically learned the features, used fewer training parameters, and required a shorter time to train as compared to other types of RNNs. The GRU model was designed to forecast 169 hours ahead in terms of forecasted wind speeds and temperature values based on 36 years of hourly interval historical data (1st January 1985 to 26th June 2021) collected from the GCC region. The findings notably indicate that the GRU model offers a promising performance, with significant prediction accuracies in terms of overfitting, reliability, resolution, efficiency, and generalisable processes. The GRU model is characterised by its superior performance and influential evaluation error metrics for wind speed and temperature fluctuations. Finally, the models aim to help address the issue of a lack of future planning and accurate analyses of the energy sector's forecasted performance and intermittency, providing a reliable forecasting technique which is a prerequisite for modern energy systems

    YEARBOOK 2019/2020. Arts Museology and Curatorship

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    Yearbook is the first collection of AMaC’s student projects developed during the first two years of the course. AMaC is a Master’s degree in Arts, Museology and Curatorship with a clear mission: to educate and train professionals with creative and research skills essential to developing successful arts and cultural heritage strategies. This broad and demanding field requires an engagement with the current debate on common goods, the identity of communities, access to heritage art, and the impact of the arts on society
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