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This paper attempts to reconcile an apparent contradiction between short‐run and long‐run movements in the price of gold. The theoretical model suggests a set of conditions under which the price of gold rises over time at the general rate of inflation and hence be an effective hedge against inflation. The model also demonstrates that short‐run changes in the gold lease rate, the real interest rate, convenience yield, default risk, the covariance of gold returns with other assets and the dollar/world exchange rate can disturb this equilibrium relationship and generate short‐run price volatility. Using monthly gold price data (1976–1999), and cointegration regression techniques, an empirical analysis confirms the central hypotheses of the theoretical model.

The purchasing power parity hypothesis is investigated within a highly economically integrated set of nations, namely the European Monetary System. We use the Phillips‐Hansen Fully Modified Ordinary Least Squares procedure, which for the first time allows for an unrestricted cointegration test of the PPP doctrine. We sequentially test for the weak and strong form of PPP.

The monetary approach to long run exchange rate determination is reexamined for the Canadian — US dollar exchange rate. We first test for non‐stationarity, and then conduct a multivariate cointegration analysis to examine the validity of the monetary model in determination of exchange rates over the long run. Our results uphold the validity of the monetary approach.

We examine the stability of exchange rates among the members of the European Monetary System (EMS), using the Johansen‐Juselius multivariate cointegration (systems) analysis. The direct implication from cointegration theory is that exchange rate stability vis a vis EMS member countries has been achieved. This allows us to study the speed of convergence of different currencies towards the equilibrium path.

The study aims to assess the heater and cooler positional impacts systematically using four different quadrantal cavities filled with hybrid nanofluid, keeping the curved surface adiabatic under the orientated magnetic fields. Both heat transfer and entropy generation analyses are performed for a hybrid nanofluid flow in a quarter circular cavity considering different orientations of magnetic fields. The investigation is focused to assess the heater and cooler positional impacts systematically using four different quadrantal cavities (first to fourth quadrantal cavities), keeping the curved surface always adiabatic. The impacts of pertinent variables like Rayleigh number, Hartmann number and volumetric concentration of hybrid nanofluid on heat transfer characteristics are in consideration with the second law of thermodynamics. The analysis includes the thermal, viscous and magnetic aspects of entropy generation.

After validating against the experimental results, the present work explores numerically following the Galerkin weighted finite element technique. The solution is obtained through an iterative process satisfying the convergence limit of 10⁻⁸ and 10⁻¹⁰ for the maximum residuals and the mass defect, respectively.

It revealed that the mutual exchange of heater-cooler positions on the adjacent straight edges of the quadrant cavity does not have any impact on the flow direction. Although the magnitude of flow velocity enhances, the sidewall plays a decision-making role in the formation of a single circulation vortex. It also shows that thermal entropy production is the main cause behind thermodynamic irreversibility. The second or third quadrantal arrangement could have been opted as the best configuration of the heater-cooler position for achieving superior heat transfer. The Lorentz force plays a great role to moderate the heat transfer process. The maximum entropy generation is located, as expected, at the heating-cooling junction point.

There are plenty of prospects for extension of the present research concept numerically or experimentally, adopting three-dimensional analysis, working fluids, boundary conditions, etc. In fact, the study could be carried out for unsteady or turbulent fluid flow.

As the position of the heated source and cold sink on the enclosure geometry can significantly alter the thermo-fluid phenomena, this kind of analysis is of utmost relevance for the further development of efficient heating/cooling arrangements and proper management of the devices subjected to magnetic field applications. This original contribution could be a potentially valuable source for future research and exploration pertaining to a thermal system or device, like heat exchangers, solar collectors, thermal storage, electronic cooling, food and drying technologies and others.

In the literature, an inadequate number of works have focused on a quadrantal cavity, mostly considering the first quadrant of the circle. However, during practical applications, it is possible that the cavity can take the shape of the other three quadrants too, and the corresponding knowledge on relative performance is still missing. Furthermore, the present investigation includes the existence of magnetic fields at various orientations. The impact analysis of this field-induced Lorentz force on the nanofluid thermal performance is another major contribution from the present work that would enrich the domain knowledge and could be useful for thermal system engineers.

The purpose of this study is to carry out a comprehensive analysis of magneto-hydrodynamics (MHD), nanofluidic flow dynamics and heat transfer as well as thermodynamic irreversibility, within a novel butterfly-shaped cavity. Gaining a thorough understanding of these phenomena will help to facilitate the design and optimization of thermal systems with complex geometries under magnetic fields in diverse applications.

To achieve the objective, the finite element method is used to solve the governing equations of the problem. The effects of various controlling parameters such as butterfly-shaped triangle vertex angle (T), Rayleigh number (Ra), Hartmann number (Ha) and magnetic field inclination angle (γ ) on the hydrothermal performance are analyzed meticulously. By investigating the effects of these parameters, the authors contribute to the existing knowledge by shedding light on their influence on heat and fluid transport within butterfly-shaped cavities.

The major findings of this study reveal that the geometrical shape significantly alters fluid motion, heat transfer and irreversibility production. Maximum heat transfer, as well as entropy generation, occurs when the Rayleigh number reaches its maximum, the Hartmann number is minimized and the angle of the magnetic field is set to 30° or 150°, while the butterfly wings angle or vertex angle is kept at a maximum of 120°. The intensity of the magnetic field significantly controls the heat flow dynamics, with higher magnetic field strength causing a reduction in the flow strength as well as heat transfer. This configuration optimizes the heat transfer characteristics in the system.

Further research can be expanded on this study by examining thermal performance under different curvature effects, orientations, boundary conditions and additional factors. This can be accomplished through numerical simulations or experimental investigations under various multiphysical scenarios.

The geometric configurations explored in this research have practical applications in various engineering fields, including heat exchangers, crystallization processes, microelectronic devices, energy storage systems, mixing processes, food processing, air-conditioning, filtration and more.

This study brings value by exploring a novel geometric configuration comprising the nanofluidic flow, and MHD effect, providing insights and potential innovations in the field of thermal fluid dynamics. The findings contribute a lot toward maximizing thermal performance in diverse fields of applications. The comparison of different hydrothermal behavior and thermodynamic entropy production under the varying geometric configuration adds novelty to this study.

This study aims to investigate the impact of different heater geometries (flat, rectangular, semi-elliptical and triangular) on hybrid nanofluidic (Cu–Al₂O₃–H₂O) convection in novel umbrella-shaped porous thermal systems. The system is top-cooled, and the identical heater surfaces are provided centrally at the bottom to identify the most enhanced configuration.

The thermal-fluid flow analysis is performed using a finite volume-based indigenous code, solving the nonlinear coupled transport equations with the Darcy number (10^–5 ≤ Da ≤ 10^–1), modified Rayleigh number (10 ≤ Ra_m ≤ 10⁴) and Hartmann number (0 ≤ Ha ≤ 70) as the dimensionless operating parameters. The semi-implicit method for pressure linked equations algorithm is used to solve the discretized transport equations over staggered nonuniform meshes.

The study demonstrates that altering the heater surface geometry improves heat transfer by up to 224% compared with a flat surface configuration. The triangular-shaped heating surface is the most effective in enhancing both heat transfer and flow strength. In general, flow strength and heat transfer increase with rising Ra_m and decrease with increasing Da and Ha. The study also proposes a mathematical correlation to predict thermal characteristics by integrating all geometric and flow control variables.

The present concept can be extended to further explore thermal performance with different curvature effects, orientations, boundary conditions, etc., numerically or experimentally.

The present geometry configurations can be applied in various engineering applications such as heat exchangers, crystallization, micro-electronic devices, energy storage systems, mixing processes, food processing and different biomedical systems (blood flow control, cancer treatment, medical equipment, targeted drug delivery, etc.).

This investigation contributes by exploring the effect of various geometric shapes of the heated bottom on the hydromagnetic convection of Cu–Al₂O₃–H₂O hybrid nanofluid flow in a complex umbrella-shaped porous thermal system involving curved surfaces and multiphysical conditions.

This study aims to undertake a comprehensive examination of heat transfer by convection in porous systems with top and bottom walls insulated and differently heated vertical walls under a magnetic field. For a specific nanofluid, the study aims to bring out the effects of different segmental heating arrangements.

An existing in-house code based on the finite volume method has provided the numerical solution of the coupled nondimensional transport equations. Following a validation study, different explorations include the variations of Darcy–Rayleigh number (Ra_m = 10–10⁴), Darcy number (Da = 10^–5–10^–1) segmented arrangements of heaters of identical total length, porosity index (ε = 0.1–1) and aspect ratio of the cavity (AR = 0.25–2) under Hartmann number (Ha = 10–70) and volume fraction of φ = 0.1% for the nanoparticles. In the analysis, there are major roles of the streamlines, isotherms and heatlines on the vertical mid-plane of the cavity and the profiles of the flow velocity and temperature on the central line of the section.

The finding of a monotonic rise in the heat transfer rate with an increase in Ra_m from 10 to 10⁴ has prompted a further comparison of the rate at Ra_m equal to 10⁴ with the total length of the heaters kept constant in all the cases. With respect to uniform heating of one entire wall, the study reveals a significant advantage of 246% rate enhancement from two equal heater segments placed centrally on opposite walls. This rate has emerged higher by 82% and 249%, respectively, with both the segments placed at the top and one at the bottom and one at the top. An increase in the number of centrally arranged heaters on each wall from one to five has yielded 286% rate enhancement. Changes in the ratio of the cavity height-to-length from 1.0 to 0.2 and 2 cause the rate to decrease by 50% and increase by 21%, respectively.

Further research with additional parameters, geometries and configurations will consolidate the understanding. Experimental validation can complement the numerical simulations presented in this study.

This research contributes to the field by integrating segmented heating, magnetic fields and hybrid nanofluid in a porous flow domain, addressing existing research gaps. The findings provide valuable insights for enhancing thermal performance, and controlling heat transfer locally, and have implications for medical treatments, thermal management systems and related fields. The research opens up new possibilities for precise thermal management and offers directions for future investigations.

The purpose of this paper is related with the comparative study between graphene-based glass fiber–reinforced polymer composites and without graphene composite on polymer matrix. The current study explains the result of amalgamation of 4 Wt.% graphene oxide (GO), in comparison to without graphene, on the mechanical strength of glass fiber/epoxy (GE).

A hand layup technique is used for the experimental study. For this, chemical synthesis process is approached based on Hummer’s theory. For mechanical testing of glass fiber–reinforced graphene composites and without graphene composites, American Society for Testing and Materials-3039 (ASTM3039) standards was adopted. Furthermore, comparatively, composites were characterized by field emission scanning electron microscopy.

Reinforcement of 4.0 Wt.% GO in epoxy matrix material showed 7.46% and 12.31% improvement in mechanical strength and elongation, respectively. Scanning electron microscopy results showed the influence of graphene cumulations in the failure of GO-reinforced GE (GO-GE) composites.

The inimitable things of graphene grounded nanofillers have encouraged in the world of material for their thinkable manipulation in glass fiber polymeric composites. In this work, for the first time, graphene is used as nanofiller in glass fiber epoxy coatings, and their fractography study is investigated.