Youth Correction: Principles of Diagnosis, Treatment, and Prognosis

With the increasing share of variable renewable generation, balancing electric powersystems could become a major concern for system operators because of their variableand hardly predictable nature. However, gas technologies appear as a solutionto provide this flexibility, but the impacts on the gas power system have hardly beeninvestigated. In this thesis, consulting reports on the subject matter, regulator suggestions andgas-electricity interaction models in scientific literature are studied and four sourcesare identified to be used for balancing: linepack, storage facilities, liquefied natural gasand intraday gas supply from adjacent areas. Then, a gas-electricity model for flexibility supply is designed and three case studies are simulated in order to analyze bothgas and electric power systems’ behaviors. In these case studies, electricity generation,contribution of gas sources and costs are analysed. The study concludes that critical situations on gas market that can occur, e.g. incases of large variation in the net electricity demand and limited availability of linepackand storage facilities, the need of intraday modulation can exceed the possibilities toprovide for it. Then, gas cannot be supplied to power plants during peak periods, andmore gas than necessary is used during off-peak periods. The case studies also showthat day-ahead forecast errors in variable renewable generation can be handled mucheasier than variations by the gas system but leads to higher costs

Monetary and Exchange Rate Policy Coordination in ASEAN 1

This paper develops the basis for monetary and exchange rate coordination in Asia as part of a package of monetary integration that could support growth and poverty reduction. This could be achieved directly through coordinated exchange rate stabilization, and indirectly through the implications of this for reserve pooling and investment in an Asian development fund (ADF) and through development of the Asian bond market (ABM). Macro policy coordination could be viewed as a necessary condition for further development of both reserve pooling via the Chiang Mai Initiative (CMI) and of the ABM. The paper analyzes the trade structure of ASEAN and China in terms of both geographic sources of imports and markets for exports, and of the commodity structure of trade. The similarities of the geographic and commodity trade structures across the region are consistent with adoption of a common currency basket for stabilization, and with an argument for monetary integration across the region along the lines of Mundell (1961) on optimum currency areas. The paper constructs currency baskets and real effective exchange rates (REERs) for the countries in the region. Since their trade patterns are quite similar and their policies are already implicitly coordinated, their REERs tend to move together. This means that ASEAN and China are already moving toward integration in practical effect. Explicit movement toward coordination could support surveillance and reserve-sharing under the CMI, and release reserves to be invested in an ADF.