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The time series of the federal funds rate has recently been extended back to 1928, now including several episodes during which interest rates remained near the lower bound of zero. This series is analyzed, using the method of indirect inference, by applying recent research on bounded time series to estimate a set of bounded parametric diffusion models. This combination uncouples the specification of the bounds from the law of motion. Although Louis Bachelier was the first to use arithmetic Brownian motion to model financial time series, he has often been criticized for this proposal, since the process can take on negative values. Most researchers favor processes such as geometric Brownian motion (GBM), which remains positive. Under this framework, Bachelier's proposal remains valid when specified with bounds and is shown to compare favorably when modeling the federal funds rate.

The purpose of this paper is to obtain analytic solutions of the (1+1) and (2+1)‐dimensional dispersive long wave equations by the homotopy analysis and the homotopy Padé methods.

The obtained approximation by using homotopy method contains an auxiliary parameter which is a simple way to control and adjust the convergence region and rate of solution series.

The approximation solutions by [m,m] homotopy Padé technique is often independent of auxiliary parameter ℏ and this technique accelerates the convergence of the related series.

In this paper, analytic solutions of the (1+1) and (2+1)‐dimensional dispersive long wave equations are obtained by the homotopy analysis and the homotopy Padé methods. The obtained approximation by using homotopy method contains an auxiliary parameter which is a simple way to control and adjust the convergence region and rate of solution series. The approximation solutions by [m,m] homotopy Padé technique are often independent of auxiliary parameter ℏ and this technique accelerates the convergence of the related series.

The purpose of this paper is to investigate the effects of thermal radiation and viscous dissipation on steady natural convection flow of a viscous incompressible fluid along a uniformly moving infinite vertical porous plate with Newtonian heating in the presence of transverse magnetic field. The governing non-linear boundary layer equations are solved by using homotopy analysis method (HAM). The effects of various system parameters on velocity and temperature fields are discussed graphically, and the numerical values for skin friction and Nusselt number are presented in tabular form.

The problem is formulated using the Boussinesq approximation under the effects of thermal radiation and transverse magnetic field. The resulting coupled system of non-linear differential equations is solved using HAM with appropriate boundary conditions for Newtonian heating of the plate. HAM is a powerful method which provides rapidly converging series solution for the velocity and temperature fields. The effects of Prandtl number, Grashof number, suction parameter, magnetic field parameter, radiation parameter and Eckert number on the fluid velocity, temperature, skin friction and Nusselt number have been investigated.

The HAM solution has been successfully applied to find the converging series solution for velocity and temperature fields in terms of pertinent system parameters. Comparison of the exact solution results agree well with the HAM solution results in the absence of Eckert number and this indicates that the HAM solutions are accurate. It is found that the velocity and temperature profiles decreases with the increase of thermal radiation and suction parameters. An increase in the magnetic field parameter leads to a rise in the fluid temperature and fall in the fluid velocity.

The present analysis is limited to steady state laminar natural convection flow only. Unsteady natural- /mixed-convection laminar flow in the presence of thermal radiation, chemical reaction and transverse magnetic field will be investigated in a future work.

The study provides very useful information for heat transfer engineers to understand the heat transfer rate when the moving vertical porous surface temperature is not known a prior. The present results have immediate relevance in the design of nuclear reactors where vertical moving porous plates are using as control rods.

The present research work is relatively original and illustrates the effects of thermal radiation, viscous dissipation and transverse magnetic field on natural convection flow past a uniformly moving infinite vertical porous plate with Newtonian heating.

The purpose of this paper is to conduct a numerical study of the convection heat transfer in porous media by the homotopy analysis method (HAM). The geometry considered is that of a rectangular profile fin. The porous fin allows the flow to infiltrate through it and solid-fluid interaction takes place. This study is performed using Darcy's model to formulate heat transfer equation. To study the thermal performance, three types of cases are considered namely long fin, finite length fin with insulated tip and finite length fin with tip exposed. The theory section addresses the derived governing equation. The effects of the porosity parameter Sh, radiation parameter G and temperature ratio CT on the dimensionless temperature distribution and heat transfer rate are discussed. The results suggest that the radiation transfers more heat than a similar model without radiation. The auxiliary parameter in the HAM is derived by using the averaged residual error concept which significantly reduces the computational time. The use of optimal auxiliary parameter provides a superior control on the convergence and accuracy of the analytic solution.

This study is performed using Darcy's model to formulate heat transfer equation. To study the thermal performance, three types of cases are considered namely long fin, finite length fin with insulated tip and finite length fin with tip exposed. The effects of the porosity parameter Sh, radiation parameter G and temperature ratio CT on the dimensionless temperature distribution and heat transfer rate are discussed.

The HAM has been successfully applied for the thermal performance of a porous fin of rectangular profile. Solutions are derived for three cases of tip condition: an infinitely long fin with tip in thermal equilibrium with the ambient, a finite fin with an insulated tip and a finite fin with a convective tip. The performance of the fin depends on three dimensionless parameters; porosity parameter Sh, radiation-conduction parameter G and a dimensionless temperature relating the ambient and base temperatures. The results show that the base heat flow increases when the permeability of the medium is high and/or when the buoyancy effect induced in the fluid is strong. The base heat flow is enhanced as the surface radiation or the tip Biot number increases.

The analysis is made for the Darcy's model. Non-Darcy effects will be investigated in a future work.

The approach is useful in enhancing heat transfer rates.

The results of the study will be interested to the researchers of the field of heat exchanger designers.

We propose a generic algorithm for numerically accurate likelihood evaluation of a broad class of spatial models characterized by a high-dimensional latent Gaussian process and non-Gaussian response variables. The class of models under consideration includes specifications for discrete choices, event counts and limited-dependent variables (truncation, censoring, and sample selection) among others. Our algorithm relies upon a novel implementation of efficient importance sampling (EIS) specifically designed to exploit typical sparsity of high-dimensional spatial precision (or covariance) matrices. It is numerically very accurate and computationally feasible even for very high-dimensional latent processes. Thus, maximum likelihood (ML) estimation of high-dimensional non-Gaussian spatial models, hitherto considered to be computationally prohibitive, becomes feasible. We illustrate our approach with ML estimation of a spatial probit for US presidential voting decisions and spatial count data models (Poisson and Negbin) for firm location choices.

The purpose of this paper is to obtain analytic solutions of telegraph equation by the homotopy Padé method.

The authors used Maple Package to calculate the solutions obtained from the homotopy Padé method.

The obtained approximation by using homotopy method contains an auxiliary parameter which is a simple way to control and adjust the convergence region and rate of solution series. The approximation solutions by [m, m] homotopy Padé technique are often independent of auxiliary parameter h and this technique accelerates the convergence of the related series. Finally, numerical results for some test problems with known solutions are presented and the numerical results are given to show the efficiency of the proposed techniques.

The paper is shown that homotopy Padé technique is a promising tool with accelerated convergence for complicated nonlinear differential equations.

The purpose of this paper is to examine the flow, heat transfer and entropy generation characteristics for an inclined channel of two immiscible micropolar fluids.

The flow region consists of two zones, the flow of the heavier fluid taking place in the lower zone. The flow is assumed to be governed by Eringen’s micropolar fluid flow equation. The resulting governing equations are then solved using the homotopy analysis method.

The following findings are concluded: first, the entropy generation rate is more near the plates in both the zones as compared to that of the interface. This indicates that the friction due to surface on the fluids increases entropy generation rate. Second, the entropy generation rate is more near the plate in Zone I than that of Zone II. This may be due to the fact that the fluid in Zone I is more viscous. This indicates the more the viscosity of the fluid is, the more the entropy generation. Third, Bejan number is the maximum at the interface of the fluids. This indicates that the amount of exergy (available energy) is maximum and irreversibility is minimized at the interface between the fluids. Fourth, as micropolarity increases, entropy generation rate near the plates decreases and irreversibility decreases. This indicates an important industrial application for micropolar fluids to use them as a good lubricant.

The problem is original as no work has been reported on entropy generation in an inclined channel with two immiscible micropolar fluids.

Multi‐point boundary value problems have important roles in the modelling of various problems in physics and engineering. This paper aims to present the solution of ordinary differential equations with multi‐point boundary value conditions by means of a semi‐numerical approach which is based on the homotopy analysis method.

The convergence of the obtained solution is expressed and some typical examples are employed to illustrate validity, effectiveness and flexibility of this procedure. This approach, in contrast to perturbation techniques, is valid even for systems without any small/large parameters and therefore it can be applied more widely than perturbation techniques, especially when there do not exist any small/large quantities.

Unlike other analytic techniques, this approach provides a convenient way to adjust and control the convergence of approximation series. Some applications will be briefly introduced.

The paper shows how an important boundary value problem is solved with a semi‐analytical method.

This work aims to focus on the study of natural convection heat transfer characteristics in a vertical wall embedded in a non-Darcy porous medium filled with nanofluids.

The governed partial differential equations are transformed into ordinary differential equations which are obtained by similarity solution and then have been solved through homotopy analysis method.

The results show that Cu-water as nanofluid enhances the local Nusselt number more than other nanofluids.

Nanoparticles and nanofluid enhance the local Nusselt number.

This paper aims to examine the squeezing flow of hybrid nanofluid within the two parallel disks. The 50:50% water–ethylene glycol mixture is used as a base fluid to prepare Ag–Fe_3O_4 hybrid nanofluid. Entropy generation analysis is examined by using the second law of thermodynamics, and Darcy’s modal involves estimating the behavior of a porous medium. The influences of Viscous dissipation, Joule heating and thermal radiation in modeling are further exerted into concern.

For converting partial differential systems to ordinary systems, a transformation technique is used. For the validation part, the numerical solution is computed by embracing a fourth-order exactness program (bvp4c) and compared with the analytical solution added by the homotopy analysis method (HAM). Graphical decisions expose the values of miscellaneous-arising parameters on the velocity, temperature and local-Nusselt numbers.

Hybrid nanofluid gives significant enhancement in the rate of heat transfer compared with nanofluid. The outcomes indicate that the average Nusselt number and entropy generation are increasing functions of the magnetic field, porosity and Brinkman number. When the thermal radiation rises, the average Nusselt number diminishes and the entropy generation advances. Furthermore, combining silver and magnetite nanoparticles into the water–ethylene glycol base fluid significantly enhances entropy generation performance.

Entropy generation analysis of the magneto-hydrodynamics (MHD) fluid squeezed between two parallel disks by considering Joule heating, viscous dissipation and thermal radiation for different nanoparticles is addressed. Furthermore, an appropriate agreement is obtained in comparing the numerical results with previously published and analytical results.