This paper proposes an economic dispatch strategy for the electricity system with one generation company, multiple utility companies and multiple consumers, which participate in demand response to keep the electricity real-time balance. In the wholesale markets, multiple utility companies will commonly select a reliable agent to negotiate with the generation company on the wholesale price. It i...

s tock returns of companies listed on the stock exchange is one of the most important criteria in assessing the macroeconomic. this study investigates the effect of exchange rate volatility on the stock exchange returns of d8 countries. it takes monthly data during the period (2008:1-2015:6) constituting 90 observations. at first we used panel-garch model to estimate exchange rate volatility in...

crude oil price and the u.s. effective exchange rate are two main economic variables that have had real effects on world welfare situation. the aim of this paper is to test whether there is a stable long-run relationship between oil prices and the u.s. dollar, expressed in real term. to this end, we perform co-integration and causality tests between the two variables, using quarterly data from ...

Nominal price rigidities are analyzed from two different perspectives. From a qualitative point of view as Kashyap (1995) we look for coherent signs which confirm the presence of fixed costs of adjustment, and therefore the validity of state-dependent pricing rules. Our data concern a mail order Italian company and confirm that individual prices do not mimic the aggregate price index, as it was...

The contingent claims valuation of physical assets and financial derivatives depends critically on the specification and estimation of the stochastic process that describes the price path. Accurate valuation of claims based on competitive electricity prices has proved problematic, as electricity price data are not well represented by traditional commodity price models of Brownian motion. Observ...

Electricity markets consist of multiple look-ahead and real-time spot markets, across which energy price is generally volatile. Moreover, dispatch and pricing decisions in the real-time markets strongly hinge on the quality of the real-time state estimates, which are formed dynamically in order to delineate real-time information about operation state of the grid. Adversaries can leverage price ...