Wind power prediction interval(WPPI)models in the literature have predominantly been developed for and tested on specific case studies.However,wind behavior and characteristics can vary significantly across regions.Th...Wind power prediction interval(WPPI)models in the literature have predominantly been developed for and tested on specific case studies.However,wind behavior and characteristics can vary significantly across regions.Thus,a prediction model that performs well in one case might underperform in another.To address this shortcoming,this paper proposes an ensemble WPPI framework that integrates multiple WPPI models with distinct characteristics to improve robustness.Another important and often overlooked factor is the role of probabilistic wind power prediction(WPP)in quantifying wind power uncertainty,which should be handled by operating reserve.Operating reserve in WPPI frameworks enhances the efficacy of WPP.In this regard,the proposed framework employs a novel bi-layer optimization approach that takes both WPPI quality and reserve requirements into account.Comprehensive analysis with different real-world datasets and various benchmark models validates the quality of the obtained WPPIs while resulting in more optimal reserve requirements.展开更多
This study examines the relationship between inflation rate and reserve requirement ratio in China. Our findings show that there is a long-term relationship between reserve requirement ratio and inflation rate. In the...This study examines the relationship between inflation rate and reserve requirement ratio in China. Our findings show that there is a long-term relationship between reserve requirement ratio and inflation rate. In the short-run, the central bank adjusts the reserve requirement ratio upwards faster than they adjust them downwards. The asymmetric adjustment reflects the fact the Chinese economy was overheating over the past few years as a result of the stimulus package implemented after the onset of the global financial crisis and inflation was threatening the stability of the society.展开更多
This study investigates the effect of targeted reserve requirement ratio cuts(TRRRCs)on tax avoidance among small and micro enterprises(SMEs)with operating revenues below specific cutoffs in China.Using a regression d...This study investigates the effect of targeted reserve requirement ratio cuts(TRRRCs)on tax avoidance among small and micro enterprises(SMEs)with operating revenues below specific cutoffs in China.Using a regression discontinuity design,we causally show that,by increasing loan availability,TRRRCs significantly alleviate the financial constraints and cash dependence of SMEs and consequently reduce tax avoidance.This is especially the case among firms with lower market power and higher entertainment and travel costs.Our findings provide evidence for the real effect of TRRRCs on corporate tax avoidance and show the inclusive effect of TRRRCs on SMEs.In doing so,we indirectly reveal a rent-seeking channel underlying bank lending,thus offering clear policy implications for regulators.展开更多
基金supported in part by the Natural Sciences and Engineering Research Council(NSERC)of Canada and the Saskatchewan Power Corporation(SaskPower).
文摘Wind power prediction interval(WPPI)models in the literature have predominantly been developed for and tested on specific case studies.However,wind behavior and characteristics can vary significantly across regions.Thus,a prediction model that performs well in one case might underperform in another.To address this shortcoming,this paper proposes an ensemble WPPI framework that integrates multiple WPPI models with distinct characteristics to improve robustness.Another important and often overlooked factor is the role of probabilistic wind power prediction(WPP)in quantifying wind power uncertainty,which should be handled by operating reserve.Operating reserve in WPPI frameworks enhances the efficacy of WPP.In this regard,the proposed framework employs a novel bi-layer optimization approach that takes both WPPI quality and reserve requirements into account.Comprehensive analysis with different real-world datasets and various benchmark models validates the quality of the obtained WPPIs while resulting in more optimal reserve requirements.
文摘This study examines the relationship between inflation rate and reserve requirement ratio in China. Our findings show that there is a long-term relationship between reserve requirement ratio and inflation rate. In the short-run, the central bank adjusts the reserve requirement ratio upwards faster than they adjust them downwards. The asymmetric adjustment reflects the fact the Chinese economy was overheating over the past few years as a result of the stimulus package implemented after the onset of the global financial crisis and inflation was threatening the stability of the society.
基金Funding was provided by National Natural Science Foundation of China(Grant No.71772178).
文摘This study investigates the effect of targeted reserve requirement ratio cuts(TRRRCs)on tax avoidance among small and micro enterprises(SMEs)with operating revenues below specific cutoffs in China.Using a regression discontinuity design,we causally show that,by increasing loan availability,TRRRCs significantly alleviate the financial constraints and cash dependence of SMEs and consequently reduce tax avoidance.This is especially the case among firms with lower market power and higher entertainment and travel costs.Our findings provide evidence for the real effect of TRRRCs on corporate tax avoidance and show the inclusive effect of TRRRCs on SMEs.In doing so,we indirectly reveal a rent-seeking channel underlying bank lending,thus offering clear policy implications for regulators.
