1,721,950 research outputs found

    A less effective monetary policy in the wake of EMU? Evidence from lending rates passthrough

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    An approach to search for structural breaks in lending rates pass-through in the wake of EMU is proposed and implemented for Italy and Portugal. Breakpoints cluster in the second semester 1999 and the equilibrium pass-through on short term lending is, in contrast with earlier research, sizeably lower in the post-break period; in the Italian case, the adjustment to the equilibrium is however faster. The recently proposed distinction between monetary policy and cost-of-funds approaches does not yield different break-points. These results challenge the widely held view that EMU has in its wake enhanced the effectiveness of monetary transmission. A strengthened relationship lending could at least partly explain the reduced equilibrium pass-through in the Italian case

    Probabilistic Performance Evaluation of Small-Scale Organic Rankine Cycle Power Plants for Waste Heat Recovery

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    The performance of Organic Rankine Cycles (ORC) plants is subject to uncertainties deriving from several factors. Such uncertainties are unavoidably propagated through the model to the outputs, affecting predictions of the commercial-scale performance and cost of this technology. The aim of this work is to analyse how the uncertainties associated with the performance of the expander, one of the main ORC components, propagate to the relevant thermodynamic and economic outputs and affect their final value. The analysis was performed for three different expander options (a single-stage turbine, a twin screw and a two-stage turbine) to generate a full spectrum of possible outputs rather than exact figures. Overall, a considerable variability of the output metrics was highlighted compared to the results from the deterministic analysis

    Sensitivity study of dynamics variability for mild-carbon steel structures affected by corrosion

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    Background: Corrosion propagation mainly occurs due to environmental conditions and to the absence of adequate maintenance. The corrosion propagation affects the structural performances of slender and thin structures, in particular in the case of structure very sensitive to the wind action and its dynamical phenomena, because commonly they are designed with a precise optimization of the stiffness/mass ratio. The static and dynamic wind action represent an immediate safety hazard in the case of structural stiffness and mass reduction due to the corrosion depth. Objective: This paper discusses the dynamics behavior variability due to the corrosion depth propagation for two significant examples of slender and thin structure (i.e. tower and truss roof). Methods: The structures assumed as case of study are made of mild carbon. The corrosion depth variability was estimated based on literature references. The structural natural frequencies and modal shapes are assumed as significant magnitudes to discuss the effect of the corrosion on the structural elements. Results: Results have shown that the corrosion depth gives a significant reduction of frequencies and modification of modal shapes. Conclusion: Results have shown that the corrosion depth affect the structural behavior long before a structural collapse. It suggests that a monitoring must be done to estimate the structure reliability for the Serviceability limit state under Characteristic design loads
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