Reengineering of interbank networks

We investigate the reengineeering of interbank networks with a specific focus on capital increase. We consider a scenario where all other components of the network’s infrastructure remain stable (a practical assumption for short-term situations). Our objective is to assess the impact of raising capital on the network’s robustness and to address the following key aspects. First, given a predefined target for network robustness, our aim is to achieve this goal optimally, minimizing the required capital increase. Second, in cases where a total capital increase has been determined, the central challenge lies in distributing this increase among the banks in a manner that maximizes the stability of the network. To tackle these challenges, we begin by developing a comprehensive theoretical framework. Subsequently, we formulate an optimization model for the network’s redesign. Finally, we apply this framework to practical examples, highlighting its applicability in real-world scenarios

Bioclimatic rehabilitation of an open market place by a computational fluid dynamics simulation assessment

These days urban design of open spaces is strongly related to bioclimatic techniques and practices. It is here presented the procedure of a bioclimatic study by the use of simulation tools. The area of an open market place is characterized of decreased human thermal comfort conditions during summer time. The employment of computational fluid dynamics has contributed in the understanding of what interventions should be made at the open space in order to succeed the defined thermal related targets. Table of the proposed rehabilitation explains what the interventions would contribute in the improvement of the local environment.The authors greatly acknowledge the support of the Mayor of Eordaia Mrs Paraskevi Vrizidou during all simulation stages. ANSYS-CFD simulations were carried out in the framework of student instruction and demonstration of the Department of Environmental Engineering, Democritus University of Thrace in Greece

Inflation Inequality in Europe

We analyze cross-household inflation dispersion in Europe using fictitious monthly inflation rates for several household categories (grouped according to income levels, household size, socio-economic status, age) for the period from 1997 to 2008. Our analysis is carried out on a panel of 23 up to 27 household-specific inflation rates per country for 15 countries. In the first part of the paper, we employ time series and related non-stationary panel approaches to shed light on cross-country differences in inflation inequality with respect to the number of driving forces in the panel. In particular, we focus on the degree of persistence of the household-specific inflation rates and their the adjustment behaviour towards the inflation rate of a representative household. In the second part of the paper, we pool over the full sample of all countries and test if and by how much certain household categories across Europe are more prone to significant inflation differentials and significant differences in the volatility of inflation. Furthermore we search for the presence of clusters with respect to inflation susceptibility. On the national level, we find evidence for the existence of one main driving factor driving the non-stationarity of the panel and evidence for a single co-integration vector. Persistence of deviations, however, is high, and the adjustment speed towards the representative household is low. Even if there is no concern about a long-run stable distribution, at least in the short- to medium run deviations tend to last. On the European level, we find small but significant differences (mainly along income levels), we can separate 5 clusters and two main driving forces for the differences in the overall panel. All in all, even if differences are relatively small, they are not negligible and persistent enough to represent a serious matter of debate for economic and social policy

Function of the Diiron Cluster of Escherichia coli Class Ia Ribonucleotide Reductase in Proton-Coupled Electron Transfer

The class Ia ribonucleotide reductase (RNR) from Escherichia coli employs a free-radical mechanism, which involves bidirectional translocation of a radical equivalent or “hole” over a distance of ~35 Å from the stable diferric/tyrosyl-radical (Y[subscript 122]•) cofactor in the β subunit to cysteine 439 (C[subscript 439]) in the active site of the α subunit. This long-range, intersubunit electron transfer occurs by a multistep “hopping” mechanism via formation of transient amino acid radicals along a specific pathway and is thought to be conformationally gated and coupled to local proton transfers. Whereas constituent amino acids of the hopping pathway have been identified, details of the proton-transfer steps and conformational gating within the β sununit have remained obscure; specific proton couples have been proposed, but no direct evidence has been provided. In the key first step, the reduction of Y[subscript 122]• by the first residue in the hopping pathway, a water ligand to Fe[subscript 1] of the diferric cluster was suggested to donate a proton to yield the neutral Y[subscript 122]. Here we show that forward radical translocation is associated with perturbation of the Mössbauer spectrum of the diferric cluster, especially the quadrupole doublet associated with Fe[subscript 1]. Density functional theory (DFT) calculations verify the consistency of the experimentally observed perturbation with that expected for deprotonation of the Fe[subscript 1]-coordinated water ligand. The results thus provide the first evidence that the diiron cluster of this prototypical class Ia RNR functions not only in its well-known role as generator of the enzyme’s essential Y[subscript 122]•, but also directly in catalysis.National Institutes of Health (U.S.) (GM-29595

Spatial and temporal analysis of drought in Greece using the Standardized Precipitation Index (SPI)

In the present study the Standardised Precipitation Index (SPI) is used to detect drought events in spatial and temporal basis. Using monthly precipitation data from 23 stations well spread over Greece and for a period of 51 years, a classification of drought is performed, based on its intensity and duration. Results indicate that, mild and moderate droughts reduce from north to south and from west to east on the 3- and 6-months time scale, while for the class of severe drought, the frequencies in the southern part of Greece are higher than in the other parts of the country. Furthermore the frequency of occurrence of severe and extreme drought conditions is very low over the whole Greek territory on the 12-month running time scale. Finally SPI was compared to the "de Martonne aridity index (I)" and a satisfactory correlation between them was found. © Springer-Verlag 2006

Individual seasonality index of rainfall regimes in Greece

The study of rainfall seasonality in different geographical areas in Greece using an individual seasonality index was the purpose of the present work. The correlation of the seasonality index (S̄I, sum of the absolute deviation of mean monthly rainfall from the overall monthly mean divided by the mean annual rainfall) with the mean individual seasonality index (S̄I, average of SI, for each year i) was initially determined. A regression analysis of S̄I with geographical latitude resulted in a statistically significant inverse linear correlation. The time series trend of the SI, was examined to verify that no significant change in rainfall seasonality occurred. © Inter-Research 2005

Spatial and temporal study of precipitation characteristics over Greece

(1) The main objectives of this study are the spatial and temporal analysis of annual 24-hour extreme precipitation amounts for different return periods, and (2) the interannual variability of the frequency of month-to-month maximum rainfall using harmonic analysis. Long time series data from 110 well-scattered rain gauges are analysed using extreme values theory and harmonic analysis techniques. The results indicate that the Jenkinson solution is more appropriate than the linear Gumbel solution for the extreme value law. The maximum expected values of 180-200 mm are observed along the southern coasts of the Greek peninsula and in the islands close to the Turkish coast, as well as in the north-west parts of the country. The harmonic analysis showed that the highest percentage of variance for rainfall extremes explained by the first harmonic (PVR(1)) appears over the southern and south-eastern parts of Greece in association with the greatest values of the amplitude of this harmonic, therefore explaining more than 90% of the variation of the frequency of maximum annual 24-hour rainfall amounts. In contrast, for regions north of 38°N and especially mountainous regions, more harmonics (3-5) are necessary to describe the parameter under investigation. © Springer-Verlag 2008

Experimental study of temperature and airflow distribution inside an urban street canyon during hot summer weather conditions-Part I: Air and surface temperatures

This paper describes the measurements and analysis of an experimental campaign performed in an urban street canyon in Athens, Greece. A number of field and indoor experimental procedures were organized during summer 2002 aiming at the investigation of the impact of urban environment on the potential of natural and hybrid ventilation. The present study is focused on the experimental investigation of thermal characteristics of a typical street canyon, oriented in ESE-WNW direction, under hot weather conditions. The temporal and spatial distribution of air and surface temperatures is examined. Emphasis was given on the vertical distribution of air and surface temperatures and the air temperature profile in the centre of canyon under different weather conditions. The measured surface temperature differences across the street reached almost 30 °C and this favored the overheating of lower air levels. Buoyancy generated mainly from asphalt-street heating resulted in the development of the predominant recirculation inside the street canyon. © 2007 Elsevier Ltd. All rights reserved

Experimental study of temperature and airflow distribution inside an urban street canyon during hot summer weather conditions. Part II: Airflow analysis

This paper presents the results of an urban measurement campaign performed in a street canyon in Athens, Greece. A number of field experimental procedures were organized during hot weather conditions, on a 24-h basis for five consecutive days during July 2002. Wind velocity measurements were conducted inside and outside the street canyon together with air and surface temperature measurements. Based on the results of air and surface temperature measurements, a further analysis is performed for the investigation of airflow inside the canyon when the ambient flow is parallel, perpendicular and oblique relative to the long canyon axis. The observed airflow characteristics are associated with the impact of thermal effects mainly induced from ground heating due to the incident solar radiation. However, the role of the finite length canyon effects related to wind circulation near street intersections, on the observed airflow patterns, is also identified. © 2007