Determinants of Private Sector Indebtedness in Greece： The Role of Deregulation

In this paper we examine private debt developments in Greece from 1970 onwards. We find private debt nearly stationary for about 20 years （starting from extremely low values） and expanding thereafter in nearly explosive terms. By disaggregating the time series of private debt, we pinpoint household debt （consumer, credit cards and mortgages） as the reason for this exponential increase. When considering demand and supply curves for household debt, shifts of the curves are to be interpreted： explanations from the demand side include, among others, expectations of future incomes. Regarding the supply side, the availability of loans （partly attributable to increased bank competition） and overall bank deregulation are proposed. Financial deregulation permitted banks to move promptly and offer to ambitious （but not necessarily solvent） customers a wide spectrum of choices： mortgages, credit cards, consumer loans and so on. Every single step in the process of financial deregulation was accompanied by a higher level of household indebtedness. Moving up from the household level to the macroeconomic level, increased debt had been also a solution to stalling effective demand, possibly due to the redistribution of income. Empirical analysis and causality tests are conducted along these lines and we find a two way causal relationship between GDP growth and private debt.

Deregulation or Governmental Intervention?A Counterfactual Perspective on China's Electricity Market Reform

The long-standing severe power shortage in China has provoked much debate on whether China should further promote market-oriented electricity reform. The present paper addresses this issue by analyzing the impacts of deregulation of the electricity generation sector and retailing activities on other sectors, the macroeconomy and electricity users. A countetfactual scenario analysis is used based on a simplified computable general equilibrium framework. We find that deregulation can significantly improve the efficiency of electricity production, increase employment and enhance household welfare. These nontrivial findings can help to resolve many controversies about governmental intervention during China＇s economic transition. Our findings have two implications relating to policy feasibility and applicability; that is, competition in the electricity retail market shouM be phased in, and the necessary arrangements for unemployment in incumbent firms shouM be considered.

Banking deregulation and corporate tax avoidance

We investigate whether tax avoidance substitutes for external financing. We exploit interstate banking deregulation as a quasi-external shock to examine whether firms engage in less tax avoidance after banking deregulation, because of cheaper and easier access to credit from banks. We find no empirical evidence to support this substitutive relation, even for firms with higher financial constraints or firms with higher external financing dependence.

Tumor suppressor and hepatocellular carcinoma

A few signaling pathways are driving the growth of hepatocellular carcinoma.Each of these pathways possesses negative regulators.These enzymes,which normally suppress unchecked cell proliferation,are circumvented in the oncogenic process,either the overactivity of oncogenes is sufficient to annihilate the activity of tumor suppressors or tumor suppressors have been rendered ineffective.The loss of several key tumor suppressors has been described in hepatocellular carcinoma.Here,we systematically review the evidence implicating tumor suppressors in the development of hepatocellular carcinoma.

A method for real power transfer allocation using multivariable regression analysis

A multivariable regression(MVR) approach is proposed to identify the real power transfer between generators and loads.Based on solved load flow results,it first uses modified nodal equation method(MNE) to determine real power contribution from each generator to loads.Then,the results of MNE method and load flow information are utilized to determine suitable regression coefficients using MVR model to estimate the power transfer.The 25-bus equivalent system of south Malaysia is utilized as a test system to illustrate the effectiveness of the MVR output compared to that of the MNE method.The error of the estimate of MVR method ranges from 0.001 4 to 0.007 9.Furthermore,when compared to MNE method,MVR method computes generator contribution to loads within 26.40 ms whereas the MNE method takes 360 ms for the calculation of same real power transfer allocation.Therefore,MVR method is more suitable for real time power transfer allocation.

Application of artificial intelligent systems for real power transfer allocation

The application of various artificial intelligent(AI) techniques,namely artificial neural network(ANN),adaptive neuro fuzzy interface system(ANFIS),genetic algorithm optimized least square support vector machine(GA-LSSVM) and multivariable regression(MVR) models was presented to identify the real power transfer between generators and loads.These AI techniques adopt supervised learning,which first uses modified nodal equation(MNE) method to determine real power contribution from each generator to loads.Then the results of MNE method and load flow information are utilized to estimate the power transfer using AI techniques.The 25-bus equivalent system of south Malaysia is utilized as a test system to illustrate the effectiveness of various AI methods compared to that of the MNE method.

A Generation Pricing Method with Capacity Bidding

Due to historic reasons China encounters some special difficulties in ESI (electricity system industry) restructuring. An easy and simple electricity value equivalent (es EVE) method for day ahead pool purchase pricing of China is therefore presented in this paper. The es EVE method is different from two part and one part tariffs. It is more like the UK's method in form, but revised for China with some new concepts and procedure. The main contributions of it include: (1) Find two kinds of eigenvalue, namely EVEs, in an optimization model, (2) Define new concepts of virtual units and feasible region, (3) Twice merit orderings are employed successively to find marginal price. They are simple maximum and minimum comparison procedures and so on. The special economic significance of the method for China is discussed, and some suggestion for ESI restructuring based on es EVE method are provided. A case study is offered at the end of the paper.

Vulnerable Consumers in the Deregulated Dutch Health System

Public service deregulation is favoured for motivating providers to offer consumers better price-quality services. Consequently, consumers are enabled to make informed choices and choose for the best service provider. However, recent publications reveal that consumers are not capable of exercising optimal choice behaviour. Despite these concerns, evidence is lacking on the extent to which potentially vulnerable consumers make use of the core element of deregulation—switching health plans. This article is meant to study whether potentially vulnerable consumers do indeed switch less health plans in the deregulated Dutch health insurance market than regular consumers. In order to answer this question, we extract questionnaire data from the LISS panel, covering the years 2009-2012. A total of 16,779 health insurance consumers were included in the sample. The average response rate was 78%. Logistic regression results show that consumers being chronically ill, 60 and older, and without Internet access, do indeed switch less often. Intriguingly, non-working consumers and those living equal to or below the poverty line, turn out to switch more often than regular consumers. As a result, we conclude that the vulnerable consumer in the Dutch health insurance market is described by the following characteristics: chronically ill, 60 and older, and without Internet access. This specific group tends to get locked-in and suffers disproportion- ately from suboptimal choice behaviour.

Power Quality Regulation Using Free Market Oriented Approach

Power quality is a compatibility issue between the supply systems and the connected loads. It is often considered as a customer-side problem as its significance depends primarily on the sensitivity of the affected equipment and its function. Improvement solutions are implemented by or on behalf of the customers only if the negative impact is causing great financial losses. However, as the reliance on electronic devices continues to increase unabatedly, the percentage of equipment being affected is expected to grow appreciably. In due course, the number of affected equipment could be so large that it is only practical and economical to implement universal solutions instead of individual solutions. This paper provides an early view of this scenario and explores the various elements necessary for reining in the poor power quality, widely expected to deteriorate further following deregulation of power industry. It attempts to use the free market oriented approach so that solutions implemented are justified on economical basis.

Modeling the growth and policy implications of Global System for Mobile Telecommunication （GSM） in Nigeria

This paper investigated the growth and policy implications of Global System for Mobile Communication in Nigeria. Stochastic economic modeling was used to analyze Nigeria＇s time series data. The models were adjudged reliable before they were used. The components of the model were defined and a prior expectation of the relationship among the variables explained for the purpose of giving the reviewers and users a deep insight into the phenomenon under study. The secondary data used for the study were processed using the E-View for windows electronic packages. The outcome of the empirical and stochastic investigations shows that Global System for Mobile Communication has a positive relationship with output growth in Nigeria. The impact is of a higher magnitude. The usage of Global System for Mobile Telecommunication led to 17 percent rise in the output growth. The findings suggest the need for the Nigerian Communication Commission （NCC） and the federal government of Nigeria to expand tele-density and directly make telephone communications cheap and accessible. To achieve this goal, more licenses should be given to GSM operators in order to allow for healthy competition among them. This will lead to improved quality of services, quality of product and consequently sustain the growth and development of the country.

A Need to Innovate the Dutch Building Regulation

In 2008, two governmental committees presented their conclusions on strengthening the role of the private building sector in building control. In 2011, three new studies were commissioned by the government to address perceived problems. One of them was an integral study, executed by ERB （Foundation Expertcentre Regulations in Building）, RIGO （Research Institute for Real Estate） and TNO （Research Institute for Applied Technologies）, to innovate the whole building regulations system. It led to proposals to redefine responsibility and liability for all parties. This study states that by an effort of yearly ￡100 million, unnecessary costs up to ￡l billion can be avoided and a real quality push will take place in the building and real estate markets. The goals to reach are to minimize the administrative burden for the building owner and to enforce the construction industry to build conforming to the regulations. This paper discusses the ERB study and the given proposals. The ERB study demonstrated that a quality push is needed which potential will lead to less costs for building owners. It also shows that proven solutions, part of the regulations, might be of help for all parties involved.

An Efficient Hybrid TLBO-PSO Approach for Congestion Management Employing Real Power Generation Rescheduling

In the present deregulated electricity market, power system congestion is the main complication that an independent system operator (ISO) faces on a regular basis. Transmission line congestion trigger serious problems for smooth functioning in restructured power system causing an increase in the cost of transmission hence affecting market efficiency. Thus, it is of utmost importance for the investigation of various techniques in order to relieve congestion in the transmission network. Generation rescheduling is one of the most efficacious techniques to do away with the problem of congestion. For optimizing the congestion cost, this work suggests a hybrid optimization based on two effective algorithms viz Teaching learning-based optimization (TLBO) algorithm and Particle swarm optimization (PSO) algorithm. For binding the constraints, the traditional penalty function technique is incorporated. Modified IEEE 30-bus test system and modified IEEE 57-bus test system are used to inspect the usefulness of the suggested methodology.

A New Optimization Approach for Transmission Usage Allocation in Deregulated Power System

Deregulation of power system industry is a very large complex exercise based on respective national energy strategies and policies. A lot of matters and knowledge need to be studied before the idea of deregulation can be implemented. Theoretically, it is said that deregulation can make a large impact to increase efficiency and encourage the competitiveness among related parties. However, to implement the concept of deregulation to electric power supply is very tough challenge. In deregulation environment, regardless of market structure, to know the transmission usage allocation is vital and very a complex problem. Thus, a lot of algorithms have been proposed to overcome it. This paper intends to solve the transmission usage allocation problem using optimization approach. The optimization tool that will be utilized is Genetic Algorithm （GA）. GA is probabilistic search technique that has its roots in the principle of genetics and strives for survival. In addition, GA is very robust. Since the nonlinear nature of power flow, it is expected that GA can give optimize results that equitable and acceptable. In this paper, 4-bus and Klos-Kerner 11-bus systems are used for analysis studies. Comparison with other method is also given in this paper.

Analytical Framework for Market-oriented DSR Flexibility Integration and Management

Integration and management of the flexibility of Demand Side Resources (DSR) in today’s energy systems plays a significant role in building up a sustainable society. However, the challenges of understanding, predicating and handling the uncertainties associated this subject to a great extent hamper its development. In this paper, an analytical framework based on a multi-portfolio setup in presence of a deregulated power market is proposed to address such challenges by adopting the thinking in modern portfolio theory (MPT). A Numerical example that targets on analyzing the risk and return for various flexibility pricing strategies are presented to illustrate some features of the framework.

Carbon Tax and Renewable Energy Diffusion in the Deregulated Texas Electricity Market: An Agent-Based Analysis

In the United States, emission regulations are enacted at a state level;individual states are allowed to define what methods they will use to mitigate their carbon emissions. The consequence of this is especially interesting in the state of Texas where new legislation has created a “deregulated” electricity market in which end-users are capable of choosing their electricity provider and subsequently the type of electricity they wish to consume (generated by fossil fuels or renewable sources). In this paper we analyze the effects of carbon tax on the development of renewable generation capacity at the utility level while taking into account expected adoption of rooftop PV systems by individual consumers using agent based modeling techniques. Monte Carlo simulations show carbon abatement trends and proffer updated renewable portfolio standards at various levels of likelihood.

Optimal Unit Commitment with Renewable Energy in Regulated and Deregulated Systems

In this paper, the impact of the wind power generation system on the total cost and profit of the system is studied by using the proposed procedure of binary Sine Cosine (BSC) optimization algorithm with optimal priority list (OPL) algorithm. As well, investigate the advantages of system transformation from a regulated system to a deregulated system and the difference in the objective functions of the two systems. The suggested procedure is carried out in two parallel algorithms;The goal of the first algorithm is to reduce the space of searching by using OPL, while the second algorithm adjusts BSC to get the optimal economic dispatch with minimum operation cost of the unit commitment (UCP) problem in the regulated system. But, in the deregulated system, the second algorithm adopts the BSC technique to find the optimal solution to the profit-based unit commitment problem (PBUCP), through the fast of researching the BSC technique. The proposed procedure is applied to IEEE 10-unit test system integrated with the wind generator system. While the second is an actual system in the Egyptian site at Hurghada. The results of this algorithm are compared with previous literature to illustrate the efficiency and capability of this algorithm. Based on the results obtained in the regulated system, the suggested procedure gives better results than the algorithm in previous literature, saves computational efforts, and increases the efficiency of the output power of each unit in the system and lowers the price of kWh. Besides, in the deregulated system the profit is high and the system is more reliable.

Assessment of Available Transfer Capability for Congestion Management in Restructured Electrical Power Network for Competent Operation

Congestion is the prime cause of problems, due to open access of power system. The AC Power Transmission Congestion Distribution factor (PTCDF) is suitable for computing change in any line quantity for a change in MW bilateral transaction. The proposed PTCDF method is more accurate as compared to the DC power distribution factor. With PTCDF ATC can be calculated. After calculating ATC it is possible to know the valid multiple transaction on power system. With the help of ATC calculations congestion problem can be solved in restructured electrical power network. The paper presents the method for calculating ATC using PTCDF.

Review of Methods to Calculate Congestion Cost Allocation in Deregulated Electricity Market

With maturing deregulated environment for electricity market, cost of transmission congestion becomes a major issue for power system operation. Uniform Marginal Price and Locational Marginal Price (LMP) are the two practical pricing schemes on energy pricing and congestion cost allocation, which are based on different mechanisms. In this paper, these two pricing schemes are introduced in detail respectively. Also, the modified IEEE-14-bus system is used as a test system to calculate the allocated congestion cost by using these two pricing schemes.

China's Oil Market to be Deregulated Slowly

Nowadaysitismoreandmoredifficulttofindarapidmoney-makingmarket,butChina's1.2-billion-peoplemarketisnodoubtanattractivecaketoforeigninvestorstointroducecapitalandtechnology.Manymajorinternationaloilfirmshavemadeanattemptforthecountry'soilmarket.Inther...