How does the Introduction of an ETF Market with Liquidity Providers Impact the Liquidity of the Underlying Stocks?.

This article examines how the inception of an ETF market impacts several dimensions of the liquidity of the ETF-underlying-index stocks. In contrast with previous research, our evidence is based on an ETF market where liquidity providers (LPs) act as market makers. We find that: (1) the market for the underlying stocks becomes more liquid after the ETF ntroduction for investors who trade at the best-limit quotes; (2) but the stock market becomes ess deep for larger traders, most probably because some large liquidity traders exit the underlying stocks’ market for the ETF market. Some statistics suggest that those results could be related to the trading activity of ETF LPs.Transaction Costs; Exchange-Traded Fund (ETF); Index Trading;

In the Name of Energy Efficiency : Justice and energy poverty in the energy transition of Swedish housing

The energy transition of housing is accelerating in parallel with economic inequality reaching historically high levels. There is thus an opportunity to reduce inequalities in living conditions, but also a risk that the costs of the transition are unequally distributed and aggravate existing inequalities. In order to seize the opportunity for a just transition, and in tandem enable a meaningful introduction of energy poverty to the Swedish political agenda, the aim of the presented thesis is to explore how the energy transition of Swedish housing is affecting social justice and vulnerability to energy poverty. This is done by novel conceptualisations, that draw on existing theory particularly relevant for the current context, of what a just energy transition of Swedish housing entails, and how energy poverty can be understood in the Swedish context; but also by adding empirical rigour to the discussion in analysing how costs and burdens of the transition have been shared between income groups, and how vulnerabilities to energy poverty are distributed among households. Overall, the findings show that the strong focus on energy efficiency in transition policy tends to structurally burden low-income residents. This could be seen in how low-income residents, who were shown to have low per capita energy use for housing, had carried a disproportionate cost burden for energy retrofitting over the past years; in how new policy imposing cold rent in the worst-performing buildings predominantly affected low-income households, and consequently elevated the risk for energy poverty in an already vulnerable part of the housing stock; and in how flexible energy use is consistently assumed to be an ability equally distributed across society. By incorporating flexibility in the conceptualisation of energy poverty, it could be determined what characteristics of a household contribute to their ability to dodge the current energy price peaks, but also who are most likely to be winners and losers in future energy systems increasingly reliant on demand-side flexibility. In conclusion, the findings in this thesis show that injustices have occurred in the energy transition over the past decade; that these injustices are structural and not coincidental; and that there are risks of injustices continuing to occur and inequality being built into future energy systems. By disclosing the implications of past decisions, the presented thesis provides credible accounts of the need for increased integration of social perspectives in energy policy, and offers practical support for more just pathways ahead. As such, it challenges dominating transition narratives that, in the name of energy efficiency, structurally have put low-income households at the frontline of the energy transition of Swedish housing

Individual differences in daytime sleepiness after night sleep extension versus afternoon napping and caffeine

Recent research has suggested that 7.5h sleep a night may not be sufficient to maintain adequate levels of alertness during the day. Two of the main arguments used in support of this theory are the ease with which many individuals fall asleep during the day and the ability of many to extend their nocturnal sleep length on demand. The first argument has been used to indicate an elevated level of daytime sleepiness, which may lead to decrements in performance throughout the waking day. The second argument uses the concept that all sleep is as a result of a physiological need, and so the ability to obtain additional sleep could indicate the repayment of a previous sleep debt. The first part of this thesis addresses the benefit of nocturnal sleep extension in terms of objective and subjective sleepiness in a group of young, healthy adults. [Continues.

The Colour of Heating was Red: An overview of historical and policy narratives of domestic heating in Sweden, 1940 - present : JustHeat Strand II Report

This report has been written within the project Looking Back to Move Forward: a Social and Cultural History of Heating (JustHeat). The aim of the project is to unpack previous heating transitions at the home front since 1940 in order to enable more just and inclusive heating transitions in the future. The background is the notion that home heating transitions are deeply personal in the sense that they affect daily routines, division of labour between family members, and how we use our homes and energy alike. While there is much to be learned from intended as well as unintended effects of previous transitions, little effort has been put into understanding the lived experiences of technological changes in home heating, despite the uneven yet deep impacts they have had in society. This project will fill this gap by using oral histories to collect individual and collective experiences of home heating transitions that can complement and nuance dominating transition narratives.As a starting point, this report aims to tell the history of home heating in Sweden as it has been documented and told in policymaking and in the public debate. This will primarily be done by reviewing formative political documents and newspaper articles. In so doing, current transitions in domestic heating can be better understood in light of past transitions, and this report can be used as a formal narrative against which to confirm, complement, and contrast the oral histories. It is by no means a complete review of the events, arguments, and effects of home heating transitions since the 1940’s, but it captures some of the most important changes that – more or less, and for better or for worse – have affected people’s everyday lives

Nonlinear modal testing performed by pulsed-air jet excitation system

This paper presents a novel approach for testing structural component to nonlinear vibrations. Nowadays, nonlinear testing is mainly carried out by using electromagnetic shakers. These are efficient and powerful excitation systems which transmit the force by a rigid stinger and can be driven by different excitation signals. The rigid connection contributes to create mechanical impedance mismatch between the shaker and the test structure thus reducing the efficiency of the driving force. An alternative solution to shakers is represented by use of a pulsed air jet excitation method, which drives the force by a pulsed air-jets and therefore contactless. This condition eliminates the mechanical impedance mismatch with the test structure and the excitation can be more efficient than the one created by shakers. The pulsed air-jet excitation system is used to study nonlinear vibrations of composites components. These were designed to be mock-ups of fan blades the layup of which was varied for the three types of components used in this work. Tests were carried out by performing forced response and free decay measurements. The free decay type of test revealed interesting results and the novelty of using such an exciter for nonlinear testing. The major novelty consists of interrupting the air flow from a steady state condition and let happen the free decay, all these without experiencing undesired dynamics as experienced by contact excitatio

Thermodiffusion phenomena.

The aim of this article is to present briefly a summary of the state of art in theoretical, experimental and numerical approaches in thermodiffusion. The concepts and equations giving the mass flux of constituents in binary, ternary and multicomponent mixtures are presented