This study examines the systemic risk caused by major events in the international energy market(IEM)and proposes a management strategy to mitigate it. Using the tail-event driven network(TENET)method, this study const...This study examines the systemic risk caused by major events in the international energy market(IEM)and proposes a management strategy to mitigate it. Using the tail-event driven network(TENET)method, this study constructed a tail-risk spillover network(TRSN) of IEM and simulated the dynamic spillover tail-risk process through the cascading failure mechanism. The study found that renewable energy markets contributed more to systemic risk during the Paris Agreement and the COVID-19pandemic, while fossil energy markets played a larger role during the Russia-Ukraine conflict. This study identifies systemically important markets(SM) and critical tail-risk spillover paths as potential sources of systemic risk. The research confirms that cutting off the IEM risk spillover path can greatly reduce systemic risk and the influence of SM. This study offers insights into the management of systemic risk in IEM and provides policy recommendations to reduce the impact of shock events.展开更多
By means of flow visualization on the wall surface and three dimensional flow field numerical simulation for the turbine cascade with 3.6% relative tip clearance, characteristics of the wall flow of the turbine cascad...By means of flow visualization on the wall surface and three dimensional flow field numerical simulation for the turbine cascade with 3.6% relative tip clearance, characteristics of the wall flow of the turbine cascade with large tip clearance is analyzed. The flow pattern on the wall surface near the trailing edge is especially discussed in detail by numerical simulation. Results of the experimental and numerical simulation show that the flow near the cascade trailing edge is very complex, and the wall flow patterns near the upper and down trailing edges are clearly different due to the influence of blade tip clearance.展开更多
基金supported by National Natural Science Foundation of China(71974001,72374001)National Social Science Foundation of China(22ZDA112,19BTJ014)+3 种基金the Social Science Foundation of the Ministry of Education of China(21YJAZH081)Anhui Provincial Natural Science Foundation(2108085Y24)the University Social Science Research Project of Anhui Province(2022AH020048,SK2020A0051)the Anhui University of Finance and Economics Graduate Research Innovation Funds(ACYC2021390)。
文摘This study examines the systemic risk caused by major events in the international energy market(IEM)and proposes a management strategy to mitigate it. Using the tail-event driven network(TENET)method, this study constructed a tail-risk spillover network(TRSN) of IEM and simulated the dynamic spillover tail-risk process through the cascading failure mechanism. The study found that renewable energy markets contributed more to systemic risk during the Paris Agreement and the COVID-19pandemic, while fossil energy markets played a larger role during the Russia-Ukraine conflict. This study identifies systemically important markets(SM) and critical tail-risk spillover paths as potential sources of systemic risk. The research confirms that cutting off the IEM risk spillover path can greatly reduce systemic risk and the influence of SM. This study offers insights into the management of systemic risk in IEM and provides policy recommendations to reduce the impact of shock events.
文摘By means of flow visualization on the wall surface and three dimensional flow field numerical simulation for the turbine cascade with 3.6% relative tip clearance, characteristics of the wall flow of the turbine cascade with large tip clearance is analyzed. The flow pattern on the wall surface near the trailing edge is especially discussed in detail by numerical simulation. Results of the experimental and numerical simulation show that the flow near the cascade trailing edge is very complex, and the wall flow patterns near the upper and down trailing edges are clearly different due to the influence of blade tip clearance.
