199,907 research outputs found
Probabilistic load flow in systems with high wind power penetration
This paper proposes a method for solving a probabilistic load flows that takes into account the uncertainties of wind
generation, but also of load and conventional
systems. The method uses a combination of methods including cumulant, point estimate and convolution. Cornish Fisher expansion series are also used to find the CDF. The method is of especial application to estimate active power flows through lines
Evaluating currency crises: A multivariate Markov regime switching approach
This paper provides an empirical framework to analyse the nature of currency crises byextending earlier work of Jeanne and Masson (2000) who suggest that a currency crisismodel with multiple equilibria can be estimated using Markov regime switching (MRS)models. However, Jeanne and Masson (2000) assume that the transition probabilitiesacross equilibria are constant and independent of fundamentals. Thus, currency crisis isdriven by a sunspot unrelated to fundamentals. This paper further contributes to theliterature by suggesting a multivariate MRS model to analyse the nature of currencycrises. In the new set up, one can test for the impact of the unobserved dynamics offundamentals on the probability of devaluation. Empirical evidence shows thatexpectations about fundamentals, which are reflected by their unobserved state variables,not only affect the probability of devaluation but also can be used to forecast a currencycrisis one period ahead
Integrals of motion in the Many-Body localized phase
We construct a complete set of quasi-local integrals of motion for the
many-body localized phase of interacting fermions in a disordered potential.
The integrals of motion can be chosen to have binary spectrum , thus
constituting exact quasiparticle occupation number operators for the Fermi
insulator. We map the problem onto a non-Hermitian hopping problem on a lattice
in operator space. We show how the integrals of motion can be built, under
certain approximations, as a convergent series in the interaction strength. An
estimate of its radius of convergence is given, which also provides an estimate
for the many-body localization-delocalization transition. Finally, we discuss
how the properties of the operator expansion for the integrals of motion imply
the presence or absence of a finite temperature transition.Comment: 65 pages, 12 figures. Corrected typos, added reference
Simplified implementation of the Heckman Estimator of the Dynamic Probit Model and a comparison with alternative estimators
This paper presents a convenient shortcut method for implementing the Heckman estimator of the dynamic random effects probit model and other dynamic nonlinear panel data models using standard software. It then compares the estimators proposed by Heckman, Orme and Wooldridge, based on three alternative approximations, first in an empirical model for the probability of unemployment and then in a set of simulation experiments. The results indicate that none of the three estimators dominates the other two in all cases. In most cases all three estimators display satisfactory performance, except when the number of time periods is very small
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