336 research outputs found

    Analyzing the relationship between oil prices and renewable energy sources in Italy during the first COVID-19 wave through quantile and wavelet analyses

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    The paper aims to analyze the evolution of oil prices and renewable energy production in Italy during the first wave of the COVID-19 pandemic crisis with daily data for the period January 2020-September 2020 through several time series techniques (long memory test and spectral causality analysis) and Wavelet Analysis tools. Italy has been the first country all over the world to be severely hit by the pandemic, reacting immediately with strong restrictive measures. The applied results show that oil prices and renewable energy sources were highly correlated during the pandemic shock. Moreover, causality tests reveal a unidirectional flow running from solar, hydro, and wind sources to oil prices, highlighting the relevance of the effect of the energy transition on the oil market. It is also imperative for a country that is a net energy resources importer to achieve a more sustainable way of production and accelerate the energy transition process, especially during phases of high fossil fuel prices

    Wagner’s Law and Peacock and Wiseman’s Displacement Effect in European Union Countries: A Panel Data Study

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    Wagner’s Law is the fi rst model of public expenditure in the history of public fi nance. It suggests that during the process of economic development the share of public spending in national income tends to expand (Wagner, 1883). Nevertheless, Peacock and Scott in 2000 wrote a paper entitled “The curious attraction of Wagner’s law,” explaining the reasons for why this (apparently) outworn theory is still studied by modern economists. On the other hand, Keynes (1936) considered public spending as an exogenous factor to be used as a policy instrument to infl uence growth. Moreover, Peacock and Wiseman (1961) presented the displacement effect, according to which during times of war tax rates are increased to generate more revenues, sustaining the increase in defense spending. While Peacock and Wiseman (1979) surveys the literature on public expenditure growth. This paper aims to analyze the relationship between public expenditure and aggregate income in European Union countries, for the period 1980-2013, using panel data methodologies. After a brief introduction, a survey of the economic literature on this issue is discussed. Then, panel data tests on stationarity, cross-dependence, cointegration, and causality are shown. Finally, some notes on policy implications conclude the paper

    Gas Turbine Coatings Eddy-Current Quantitative and Qualitative Evaluation

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    Gas turbine blades (buckets) are among the most critical and expensive components of the engine. Buckets rely on protective coatings in order to withstand the harsh environment in which they operate. The thickness and the microstructure of coatings during the lifespan of a unit are fundamental to evaluate their fitness for service. A frequency scanning Eddy Current instrument can allow the measurement of the thickness and of physical properties of coatings in a Non-Destructive manner. The method employed relies on the acquisition of impedance spectra and on the inversion of the experimental data to derive the coating properties and structure using some assumptions. This article describes the experimental validation performed on several samples and real components in order to assess the performance of the instrument as a coating thickness gage. The application of the technique to support residual life assessment of serviced buckets is also presented

    Influence of Surface Finishing on the Oxidation Behaviour of VPS MCrAlY Coatings

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    Diagnostic and therapeutic path of breast cancer: Effectiveness, appropriateness, and costs â Results from the DOCMa study

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    none8noopenGiovagnoli, Maria Rosaria; Bonifacino, Adriana; Neglia, Cosimo; Benvenuto, Marco; Sambati, Francesco Vincenzo; Giolli, Lorenzo; Giovagnoli, Alessandra; Piscitelli, PriscoGiovagnoli, Maria Rosaria; Bonifacino, Adriana; Neglia, Cosimo; Benvenuto, Marco; Sambati, Francesco Vincenzo; Giolli, Lorenzo; Giovagnoli, Alessandra; Piscitelli, Prisc
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