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1 – 10 of over 8000Shailesh Rastogi and Jagjeevan Kanoujiya
The nexus of commodity prices with inflation is one of the main concerns for a nation's economy like India. The literature does not have enough volatility-based study, especially…
Abstract
Purpose
The nexus of commodity prices with inflation is one of the main concerns for a nation's economy like India. The literature does not have enough volatility-based study, especially using the multivariate GRACH family of models to find a link between these two. It is the main reason for the conduct of this study. This paper aims to estimate the volatility effects of commodity prices on inflation.
Design/methodology/approach
For ten years (2011–2022), future prices of selected seven agriculture commodities and inflation indices (wholesale price index [WPI] and consumer price index [CPI]) are gathered every month. BEKK GARCH model (BGM) and DCC GARCH model (DGM) are employed to determine the volatility effect of commodity prices (CPs) on inflation.
Findings
The authors find that volatility's short-term (shock) impact on agricultural CPs to inflation does not exist. However, the long-term volatility spillover effect (VSE) is significant from commodities to inflation.
Practical implications
The study's findings have a significant implication for the policymakers to take a long-term view on inflation management regarding commodity prices. The findings can facilitate policy on the choice of commodities and the flexibility of their trading on the commodities derivatives market.
Originality/value
The findings of the study are unique. The authors do not observe any study on the volatility effect of agri-commodities (agricultural commodities) prices on inflation in India. This paper applies advanced techniques to provide novel and reliable evidence. Hence, this research is believed to contribute significantly to the knowledge body through its novel evidence and advanced approach.
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Shailesh Rastogi and Jagjeevan Kanoujiya
This study aims to analyze the volatility spillover effects of crude oil, gold price, interest rate (yield) and the exchange rate (USD (United States Dollar)/INR (Indian National…
Abstract
Purpose
This study aims to analyze the volatility spillover effects of crude oil, gold price, interest rate (yield) and the exchange rate (USD (United States Dollar)/INR (Indian National Rupee)) on inflation volatility in India.
Design/methodology/approach
This study uses the multivariate Generalized Autoregressive Conditional Heteroscedasticity (GARCH) models (Baba, Engle, Kraft and Kroner [BEKK]-GARCH and dynamic conditional correlation [DCC]-GARCH) to examine the volatility spillover effect of macroeconomic indicators and strategic commodities on inflation in India. The monthly data are collected from January 2000 till December 2020 for the crude oil price, gold price, interest rate (5-year Indian bond yield), exchange rate (USD/INR) and inflation (wholesale price index [WPI] and consumer price index [CPI]).
Findings
In BEKK-GARCH, the results reveal that crude oil price volatility has a long time spillover effect on inflation (WPI). Furthermore, no significant short-term volatility effect exists from crude oil market to inflation (WPI). However, the short-term volatility effect exists from crude oil to inflation while considering CPI as inflation. Gold price volatility has a bidirectional and negative spillover effect on inflation in the case of WPI. However, there is no price volatility spillover effect from gold to inflation in the case of CPI. The price volatility in the exchange rate also has a negative spillover effect on inflation (but only on CPI). Furthermore, volatility of interest rates has no spillover effect on inflation in WPI or CPI. In DCC-GARCH, a short-term volatility impact from all four macroeconomic indicators to inflation is found. Only crude oil and exchange rate have long-term volatility effect on inflation (CPI).
Practical implications
In an economy, inflation management is an essential task. The findings of the current study can be beneficial in this endeavor. The knowledge of the volatility spillover effect of all the four markets undertaken in the study can be significantly helpful in inflation management, especially for inflation-targeting policy.
Originality/value
It is observed that no other study has addressed this issue. We do not find any other research which studies the volatility spillover effect of gold, crude oil, interest rate and exchange rate on the inflation volatility. The current study is novel with a significant contribution to the vast knowledge in this context.
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Qing Wang, Xiaoli Zhang, Jiafu Su and Na Zhang
Platform-based enterprises, as micro-entities in the platform economy, have the potential to effectively promote the low-carbon development of both supply and demand sides in the…
Abstract
Purpose
Platform-based enterprises, as micro-entities in the platform economy, have the potential to effectively promote the low-carbon development of both supply and demand sides in the supply chain. Therefore, this paper aims to provide a multi-criteria decision-making method in a probabilistic hesitant fuzzy environment to assist platform-type companies in selecting cooperative suppliers for carbon reduction in green supply chains.
Design/methodology/approach
This paper combines the advantages of probabilistic hesitant fuzzy sets (PHFS) to address uncertainty issues and proposes an improved multi-criteria decision-making method called PHFS-DNMEREC-MABAC for aiding platform-based enterprises in selecting carbon emission reduction collaboration suppliers in green supply chains. Within this decision-making method, we enhance the standardization process of both the DNMEREC and MABAC methods by directly standardizing probabilistic hesitant fuzzy elements. Additionally, a probability splitting algorithm is introduced to handle probabilistic hesitant fuzzy elements of varying lengths, mitigating information bias that traditional approaches tend to introduce when adding values based on risk preferences.
Findings
In this paper, we apply the proposed method to a case study involving the selection of carbon emission reduction collaboration suppliers for Tmall Mart and compare it with the latest existing decision-making methods. The results demonstrate the applicability of the proposed method and the effectiveness of the introduced probability splitting algorithm in avoiding information bias.
Originality/value
Firstly, this paper proposes a new multi-criteria decision making method for aiding platform-based enterprises in selecting carbon emission reduction collaboration suppliers in green supply chains. Secondly, in this method, we provided a new standard method to process probability hesitant fuzzy decision making information. Finally, the probability splitting algorithm was introduced to avoid information bias in the process of dealing with inconsistent lengths of probabilistic hesitant fuzzy elements.
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Zhimin Pan, Yu Yan, Yizhou Huang, Wei Jiang, Gao Cheng Ye and Hong Jun Li
The purpose of this paper is to achieve optimal climbing control of the gas-insulated switchgear (GIS) robot, as the authors know that the GIS inspection robot is a kind of…
Abstract
Purpose
The purpose of this paper is to achieve optimal climbing control of the gas-insulated switchgear (GIS) robot, as the authors know that the GIS inspection robot is a kind of artificial intelligent mobile equipment which auxiliary or even substitute human labor drive on the inner wall of the gas-insulated metal enclosed switchgear. The GIS equipment fault inspection and maintenance can be realized through the robot manipulator on the mobile platform and the camera carried on the fuselage, and it is a kind of intelligent equipment for operation. To realize the inspection and operation of the GIS equipment pipeline without blind spots, the robot is required to be able to travel on any wall inside the pipeline, especially the top of the pipeline and both right and left sides of the pipeline, which requires the flexible climbing of the GIS inspection robot. The robot device has a certain adsorption function to ensure that the robot is fully attached to the wall surface. At the same time, the robot manipulator can be used for collision-free obstacle avoidance operation planning in the narrow operation space inside the GIS equipment.
Design/methodology/approach
The above two technologies are the key that the robot completes the GIS equipment inspections. Based on this, this paper focuses on modeling and analysis of the chassis adsorption characteristics for the GIS inspection robot. At the same time, the Denavit Hartenberg (D-H) coordinate model of the robot arm system has been established, and the kinematics forward and inverse solutions of the robot manipulator system have been derived.
Findings
The reachable working space point cloud diagram of the robot manipulator in MATLAB has been obtained based on the kinematics analysis, and the operation trajectory planning of the robot manipulator using the robot toolbox has been obtained. The simulation results show that the robot manipulator system can realize the movement without collision and obstacle avoidance. The space can cover the entire GIS pipeline so as to achieve no blind area operation.
Originality/value
Finally, the GIS inspection robot physical prototype system has been developed through system integration design, and the inspection, maintenance operation experiment has been carried out in the actual GIS equipment. The entire robot system can complete the GIS equipment inspection operation soundly and improve the operation efficiency. The research in this paper has important theoretical significance and practical application value for the optimization design and practical research of the GIS inspection robot system.
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Yasmeen Taleb Obaidat, Wasim Barham and Rawan Abu libdeh
The main aim of this study is to examine the behavior of reinforced concrete short columns strengthened using longitudinal near surface mounted (NSM)-carbon fiber reinforced…
Abstract
Purpose
The main aim of this study is to examine the behavior of reinforced concrete short columns strengthened using longitudinal near surface mounted (NSM)-carbon fiber reinforced polymer (CFRP) strips.
Design/methodology/approach
A full 3D-finite element (FE) model was developed using ABAQUS in order to conduct the analysis. The model is first validated based on experimental data available in the literature, and then the effect of concrete compressive strength, number of CFRP strips that are used and the spacing between them were taken in consideration for both concentric and eccentric loading cases. The parametric study specimens were divided into three groups. The first group consisted of unstrengthened columns and served as control specimens. The second group consisted of columns strengthened by longitudinal CFRP strips at two opposite column faces.
Findings
The results of this study are used to develop interaction diagrams for CFRP-strengthened short columns and to develop best-fit equations to estimate the nominal axial load and moment capacities for these strengthened columns. The results showed that the specimens that were strengthened using more longitudinal CFRP strips showed a significant increase in axial load capacity and a significant improvement in the interaction diagram, especially at large load eccentricity values. This result can be justified by the fact that longitudinal strips effectively resist the bending moment that is generated due to eccentric loading. Generally, the process of strengthening using longitudinal strips only has a reasonable effect and it can be typically considered an excellent choice considering the economic aspect when the budget of strengthening is limited.
Originality/value
This research aims at studying the performance of strengthened rectangular reinforced concrete short columns with CFRP strips using FE method, developing interaction diagrams of strengthened columns in order to investigate the effect of different parameters such as compressive strength (20, 30 and 40 MPa), number of CFRP strips (1, 2, 3 and 4) and the spacing between CFRP strips in terms of the ratio of CFRP center point distance to column outside dimension ratio (0.60, 0.70 and 0.80) on the behavior of strengthened RC columns and improving empirical formulas to predict the nominal axial load and moment capacities of strengthened RC columns. These parameters that directly affect short column load carrying capacity are presented in ACI-318 (2014).
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Shailesh Rastogi and Jagjeevan Kanoujiya
The main aim of the study is to explore the volatility spillover effect of cryptocurrencies (Bitcoin, Ethereum and Litecoin) on inflation volatility in India.
Abstract
Purpose
The main aim of the study is to explore the volatility spillover effect of cryptocurrencies (Bitcoin, Ethereum and Litecoin) on inflation volatility in India.
Design/methodology/approach
A popular tool, the Bivariate GARCH model (BEKK-GARCH), to study the volatility spillover effect, is applied in the study. Monthly data of cryptocurrencies and inflation (WPI and CPI indices) are gathered from 2015 to 2021.
Findings
Significant short-term responsiveness of volatility of cryptocurrencies on the inflation volatility is found. In addition to this, the significant volatility spillover effect from the cryptocurrencies to the inflation volatility is found.
Practical implications
The findings of the current paper can be of use for inflation management, target inflation policies and policies to contain the volatility of cryptocurrencies. The significance of the current paper is relevant as governments worldwide are officially recognizing cryptocurrencies and starting the process of launching their official virtual currency.
Originality/value
No other study is observed on the topic. Hence, the contribution and novelty of the findings of the current paper are very high and add value to the nonexistent literature on the topic. Lack of the number of inflation observations (data of CPI and WPI are available only in monthly frequency) crimps the model estimation. As the cryptocurrencies become old, more data points will be available by design, and such problems can be resolved, and better model estimation may be possible.
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This paper constructs a tripartite evolutionary game model between the government, the core enterprises of film copyright export and imports and uses the system dynamics model to…
Abstract
Purpose
This paper constructs a tripartite evolutionary game model between the government, the core enterprises of film copyright export and imports and uses the system dynamics model to simulate and find the optimal selection results of single and mixed government incentives under dynamic changes, aiming to promote the development of foreign trade of film copyright and innovation and development of the film industry so as to improve the overall social benefits of the film industry and provide policy enlightenment for enhancing the import power of foreign core enterprises to introduce domestic film copyrights.
Design/methodology/approach
In this paper, a tripartite evolutionary game model of the government, the core enterprises of film copyright export and imports is constructed, the evolution process of cooperation strategy is derived, the impact of innovation income coefficient, mixed incentive policy and single incentive policy on the evolution results is analyzed, and the system dynamic model is used to simulate to find the optimal selection results of single and mixed government incentives under dynamic changes, so as to provide reference for the government’s dynamic incentive decision-making.
Findings
The results show that export-oriented core firms are more sensitive to mixed incentives, while import-oriented core firms respond more quickly to single incentives. The large innovation income coefficient has a negative impact on the willingness of import-oriented core enterprises to cooperate. The study proposes measures to increase the willingness of core companies to participate.
Research limitations/implications
Due to the fact that numerical simulation is based on simulation, there may be a certain gap between it and the actual situation. Therefore, it is necessary to further use actual data to conduct empirical analysis on the theoretical model.
Practical implications
This article mainly focuses on analyzing the impact of strategy choices and related parameters of various entities on the incentive mechanism and studying the foreign trade cooperation strategies of film copyright export enterprises under policy support from a theoretical model perspective. Furthermore, research has proven that in order to effectively enhance the willingness of foreign import core enterprises to participate in the foreign trade of domestic film copyrights, the government needs to coordinate the use of single incentive policies and mixed incentive policies. This study provides a major contribution for policymaker to develop film copyright import and export trade.
Social implications
Based on the research conclusions, this paper puts forward management countermeasures to further improve the development of the film copyright import and export trade. The first is to enrich government incentive methods and stimulate the vitality of film copyright and foreign trade market entities. The second is to guide the core enterprises of film copyright export to increase investment in innovation and stimulate the endogenous driving force of industrial development. Finally, lengthen the foreign trade industry chain of film copyright and increase the income of film derivatives.
Originality/value
Firstly, this paper applies the research methods of evolutionary game and system dynamics simulation to the field of foreign trade research on film copyright and expands the research perspectives and methods of the film industry. Secondly, by analyzing the “cost-benefit incentive” relationship of the evolutionary game of government export-oriented core enterprises and importing core enterprises, an evolutionary game model is constructed, the quantitative point of tripartite interest decision-making is solved and the research object of the evolutionary game method is expanded. Finally, the system dynamics model is used to simulate and find the optimal selection results of single and mixed government incentives under dynamic changes, so as to provide reference for the government’s dynamic incentive decision-making.
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Dong Li, Yu Zhou, Zhan-Wei Cao, Xin Chen and Jia-Peng Dai
This paper aims to establish a lattice Boltzmann (LB) method for solid-liquid phase transition (SLPT) from the pore scale to the representative elementary volume (REV) scale. By…
Abstract
Purpose
This paper aims to establish a lattice Boltzmann (LB) method for solid-liquid phase transition (SLPT) from the pore scale to the representative elementary volume (REV) scale. By applying this method, detailed information about heat transfer and phase change processes within the pores can be obtained, while also enabling the calculation of larger-scale SLPT problems, such as shell-and-tube phase change heat storage systems.
Design/methodology/approach
Three-dimensional (3D) pore-scale enthalpy-based LB model is developed. The computational input parameters at the REV scale are derived from calculations at the pore scale, ensuring consistency between the two scales. The approaches to reconstruct the 3D porous structure and determine the REV of metal foam were discussed. The implementation of conjugate heat transfer between the solid matrix and the solid−liquid phase change material (SLPCM) for the proposed model is developed. A simple REV-scale LB model under the local thermal nonequilibrium condition is presented. The method of bridging the gap between the pore-scale and REV-scale enthalpy-based LB models by the REV is given.
Findings
This coupled method facilitates detailed simulations of flow, heat transfer and phase change within pores. The approach holds promise for multiscale calculations in latent heat storage devices with porous structures. The SLPT of the heat sinks for electronic device thermal control was simulated as a case, demonstrating the efficiency of the present models in designing and optimizing SLPT devices.
Originality/value
A coupled pore-scale and REV-scale LB method as a numerical tool for investigating phase change in porous materials was developed. This innovative approach allows for the capture of details within pores while addressing computations over a large domain. The LB method for simulating SLPT from the pore scale to the REV scale was given. The proposed method addresses the conjugate heat transfer between the SLPCM and the solid matrix in the enthalpy-based LB model.
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Amina Zahafi, Mohamed Hadid and Raouf Bencharif
A newly developed frequency-independent lumped parameter model (LPM) is the purpose of the present paper. This new model’s direct outcome ensures high efficiency and a…
Abstract
Purpose
A newly developed frequency-independent lumped parameter model (LPM) is the purpose of the present paper. This new model’s direct outcome ensures high efficiency and a straightforward calculation of foundations’ vertical vibrations. A rigid circular foundation shape resting on a nonhomogeneous half-space subjected to a vertical time-harmonic excitation is considered.
Design/methodology/approach
A simple model representing the soil–foundation system consists of a single degree of freedom (SDOF) system incorporating a lumped mass linked to a frequency-independent spring and dashpot. Besides that, an additional fictitious mass is incorporated into the SDOF system. Several numerical methods and mathematical techniques are used to identify each SDOF’s parameter: (1) the vertical component of the static and dynamic foundation impedance function is calculated. This dynamic interaction problem is solved by using a formulation combining the boundary element method and the thin layer method, which allows the simulation of any complex nonhomogeneous half-space configuration. After, one determines the static stiffness’s expression of the circular foundation resting on a nonhomogeneous half-space. (2) The system’s parameters (dashpot coefficient and fictitious mass) are calculated at the resonance frequency; and (3) using a curve fitting technique, the general formulas of the frequency-independent dashpot coefficients and additional fictitious mass are established.
Findings
Comparisons with other results from a rigorous formulation were made to verify the developed model’s accuracy; these are exceptional cases of the more general problems that can be addressed (problems like shallow or embedded foundations of arbitrary shape, other vibration modes, etc.).
Originality/value
In this new LPM, the impedance functions will no longer be needed. The engineer only needs a limited number of input parameters (geometrical and mechanical characteristics of the foundation and the soil). Moreover, a simple calculator is required (i.e. we do not need any sophisticated software).
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This paper aims to present an analytical approach for the determination of helical gear tooth geometry and introduces the necessary parameters. Tooth geometry including tooth…
Abstract
Purpose
This paper aims to present an analytical approach for the determination of helical gear tooth geometry and introduces the necessary parameters. Tooth geometry including tooth chamfer, involute curve, root fillet, helix as well as tooth microgeometry can be obtained using the presented approach.
Design/methodology/approach
The presented analytical approach involves deriving the equivalent equations at the transverse plane rather than the normal plane. Moreover, numerical evaluation of microgeometry modifications is presented for tooth profile, tooth lead and flank twist.
Findings
An analytical approach is presented and equations are derived and explained in detail for helical gear tooth geometry calculation, including tooth microgeometry. Method 1, which was presented by Lopez and Wheway (1986) for obtaining the root fillet, is examined and it is proven that it does not work accurately for helical gears, but rather it works perfectly in the case of spur gears. Changing the normal plane parameters in Method 1 to the transverse plane ones does not give correct results. Two alternative methods, namely, Methods 2 and 3, are developed in the current research for the calculation of the tooth root fillet of helical gears. The presented methods and also the numerical evaluation presented for microgeometry modification are examined against the geometry obtained from Windows LDP software. The results show very good agreement, and it is feasible to apply the approach using the presented equations.
Originality/value
In the gear design process, it is important to model the correct gear tooth geometry and deliver all related dimensions and calculations accurately. However, the determination of helical gear tooth geometry has not been presented adequately by equations to facilitate gear modelling. The detailed helical gear tooth root has been enveloped using software tools that can simulate the cutter motion. Deriving those equations, presented in this article, provides gear design engineers and researchers with the possibility to model helical gears and perform design calculations in a structured, applicable and accurate method.
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