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This study aims to systematically reveal the complex interaction between uncertainty and the international commodity market (CRB).

A composite uncertainty index and five categorical uncertainty indices, together with wavelet analysis and detrended cross-correlation analysis, were used. First, in the time-frequency domain, the coherency and lead-lag relationship between uncertainty and the commodity markets were investigated. Furthermore, the transmission direction of the cross-correlation over different lag periods and asymmetry in this cross-correlation under different trends were identified.

First, there is significant coherency between uncertainties and CRB mainly in the short and medium terms, with natural disaster and public health uncertainties tending to lead CRB. Second, uncertainty impacts CRB more markedly over shorter lag periods, whereas the impact of CRB on uncertainty gradually increases with longer lag periods. Third, the cross-correlation is asymmetric and multifractal under different trends. Finally, from the perspective of lag periods and trends, the interaction of uncertainty with the Chinese commodity market is significantly different from its interaction with CRB.

First, this study comprehensively constructs a composite uncertainty index based on five types of uncertainty. Second, this study provides a scientific perspective on examining the core and diverse interactions between uncertainty and CRB, as achieved by investigating the interactions of CRB with five categorical and composite uncertainties. Third, this study provides a new research framework to enable multiscale analysis of the complex interaction between uncertainty and the commodity markets.

This study aims to predict stock market crashes identified by the CMAX approach (current index level relative to historical maximum) during periods of global and local events, namely the subprime crisis of 2008, the political and social instability of 2011 and the COVID-19 pandemic.

Over the period 2004–2020, a log-periodic power law model (LPPL) has been employed which describes the price dynamics preceding the beginning dates of the crisis. In order to adjust the LPPL model, the Global Search algorithm was developed using the “fmincon” function.

By minimizing the sum of square errors between the observed logarithmic indices and the LPPL predicted values, the authors find that the estimated parameters satisfy all the constraints imposed in the literature. Moreover, the adjustment line of the LPPL models to the logarithms of the indices closely corresponds to the observed trend of the logarithms of the indices, which was overall bullish before the crashes. The most predicted dates correspond to the start dates of the stock market crashes identified by the CMAX approach. Therefore, the forecasted stock market crashes are the results of the bursting of speculative bubbles and, consequently, of the price deviation from their fundamental values.

The adoption of the LPPL model might be very beneficial for financial market participants in reducing their financial crash risk exposure and managing their equity portfolio risk.

This study differs from previous research in several ways. First of all, to the best of the authors' knowledge, the authors' paper is among the first to show stock market crises detection and prediction, specifically in African countries, since they generate recessionary economic and social dynamics on a large extent and on multiple regional and global scales. Second, in this manuscript, the authors employ the LPPL model, which can expect the most probable day of the beginning of the crash by analyzing excessive stock price volatility.

This study highlights the crucial significance of stakeholder participation in the creation of a comprehensive energy and electrical master plan for Mozambique. The purpose of this study is to deliver a practical insights that transcend theoretical concerns by digging into the subtleties of stakeholder relationships and strategic collaborations, paving the path for pragmatic and meaningful solutions that connect with real-life conditions. This debate lays the groundwork for educated decision-making, propelling Mozambique’s energy industry towards a more sustainable and prosperous future.

The study used a combined approach of stakeholder analysis (SA) and social network analysis (SNA) to enhance our understanding of the stakeholder landscape in Mozambique’s energy sector. This methodological approach offers a unique vantage point to examine the individual stakeholders’ roles and the intricate web of connections, partnerships, collaborations and information-sharing activities. By integrating SA and SNA, this study aims to provide a more comprehensive and dynamic depiction of stakeholder interactions, contributing methodologically to the existing body of literature.

The findings also highlight the need to develop frameworks that promote private investment and joint endeavours with entities such as Cahora Bassa Dam/Mozambique Transmission Company. A consistent legal framework ensures uniform performance and a robust monitoring system for ongoing projects, improving accountability and progress tracking. Furthermore, the discussion includes enhancing the competence of the regulatory agency regulating the electricity industry. This includes tackling complex concerns with electricity pricing and other regulatory aspects relevant to private investment. A highly empowered regulatory agency is critical to creating an atmosphere conducive to long-term private sector involvement.

While the study emphasises the need to integrate multiple stakeholders, it may not detail specific issues or impediments that may develop during the engagement process. Additional research could look into potential tensions or barriers to effective collaboration. Furthermore, the study emphasises the necessity of addressing environmental impacts; it must thoroughly examine specific environmental concerns such as carbon emissions, deforestation or renewable energy possibilities. Future research could assess the suggested policies’ environmental impact more extensively. Additionally, while the conclusion briefly mentions economic prosperity, a more thorough consideration of the possible economic and social implications of various energy policies could provide a greater understanding of their practicality and potential benefits.

In terms of practical contributions, this study aspires to shed light on how stakeholder interactions can shape energy policy interventions that ensure reliable and affordable energy sources for economic development and societal well-being. By unveiling the complex network of relationships and partnerships, this study seeks to provide actionable insights for policymakers, industry players and other stakeholders involved in Mozambique’s energy sector. By taking this action, this research aims to pave the way for more effective and inclusive energy policies that align with circular economy principles, thus addressing a critical need in scholarly discourse and practical implementation.

The study underscores the critical role of energy stakeholders in shaping energy policies and projects, given their influential positions and impact on decision-making processes. While existing literature acknowledges this influence, a discernible research gap exists in comprehensively understanding how stakeholder interactions and collaborations in the energy sector affect policy interventions within a context such as Mozambique. This study seeks to bridge this gap by delving into the intricacies of stakeholder involvement and its implications for energy policy development in Mozambique.

Scientists have been conducting trials to find ways to reduce fuel consumption and enhance heat transfer rates to make heating systems more efficient and cheaper. Adding solid nanoparticles to conventional liquids may greatly improve their thermal conductivity, according to the available evidence. This study aims to examine the influence of external magnetic flux on the flow of a mixed convective Maxwell hybrid non-Newtonian nanofluid over a linearly extending porous flat plate. The investigation considers the effects of thermal radiation, Dufour and Soret.

The mathematical model is formulated based on the fundamental assumptions of mass, energy and momentum conservation. The implicit models are epitomized by a set of interconnected nonlinear partial differential equations, which include a suitable and comparable adjustment. The numerical solution to these equations is assessed for approximate convergence by the Runge−Kutta−Fehlberg method based on the shooting technique embedded with the MATLAB software.

The findings are presented through graphical representations, offering a visual exploration of the effects of various dynamic parameters on the flow field. These parameters encompass a wide range of factors, including radiation, thermal and Brownian diffusion parameters, Eckert, Lewis and Soret numbers, magnetic parameters, Maxwell fluid parameters, Darcy numbers, thermal and solutal buoyancy factors, Dufour and Prandtl numbers. Notably, the authors observed that nanoparticles with a spherical shape exerted a significant influence on the stream function, highlighting the importance of nanoparticle geometry in fluid dynamics. Furthermore, the analysis revealed that temperature profiles of nanomaterials were notably affected by their shape factor, while concentration profiles exhibited an opposite trend, providing valuable insights into the behavior of nanofluids in porous media.

A distinctive aspect of the research lies in its novel exploration of the impact of external magnetic flux on the flow of a mixed convective Maxwell hybrid non-Newtonian nanofluid over a linearly extending porous flat plate. By considering variables such as solar radiation, external magnetic flux, thermal and Brownian diffusion parameters and nanoparticle shape factor, the authors ventured into uncharted territory within the realm of fluid dynamics. These variables, despite their significant relevance, have not been extensively studied in previous research, thus underscoring the originality and value of the authors’ contribution to the field.

The purpose of this study is to provide new insights into the relationship between fiscal policy and total factor productivity (TFP) while accounting for several economic and econometric issues of the phenomenon like non-stationarity, fiscal feedback effects, persistence in productivity, country heterogeneity and unobserved global shocks and local spillovers affecting heterogeneously the countries in the sample.

The paper is empirical. It builds an Error Correction Model (ECM) specification within a dynamic heterogeneous framework with common correlated effects and models both reverse causality and feedback effects.

The results of this study highlight some new findings relative to the existing related literature. The outcomes suggest some relevant evidence at both the academic and policy levels: (1) the causal effects going from fiscal deficit/surplus to TFP are heterogeneous across countries; (2) the effects depend on the time horizon considered; (3) the long-run dynamics of TFP are positively impacted by improvements in fiscal budget, but only if the austerity measures do not exert slowdowns in aggregate growth.

The main originality of this study is methodological, with possible extensions to related phenomena. Relative to the existing literature, the gains of this study rely on the way econometric techniques, recently proposed in the literature, are adapted to the economic relationship of interest. The endogeneity due to the existence of reverse causality is modelled without implying relevant performance losses of the models. Moreover, this is the first article that questions whether the effects of fiscal budget on productivity depend on the impact of the former on aggregate output growth, thus emphasising the importance of the quality of fiscal adjustments.

This work analyzes female immigrants’ integration in the dimensions of education, labor market participation and fertility in 15 European countries, considering individual characteristics, including cultural background, host countries’ attitudes towards immigrants, the role of women in the family and country-specific integration policy. All these aspects taken together are crucial to understand the main patterns of integration focusing on gender differences.

We focus on second- and first-generation male and female immigrants between the age of 25 and 41, with a length of stay of at least ten years. Enrollment ratios for tertiary education in parents’ countries, the total fertility rate and the female labor force in the mother’s country represent ethnic background. Diversity in the destination regions is captured by local attitudes towards immigrants, the perceived role of women and national policies to integrate migrants [Migrant Integration Policy Index (MIPEX)]. The data are drawn from the European Social Survey (ESS) for 2010–2018. Our results are based on ordinary least squares (OLS) and logit estimates; multilevel analysis was conducted.

We find significant evidence of gender role transmission from mother to daughter; age at immigration seems to be crucial to examine the importance of the culture of origin among immigrants. However, females are responsive to attitudes toward immigrants and gender equality in receiving societies, while integration policies, by defining the set of opportunities, may contribute to both genders’ tertiary education and women’s probability of being in the labor force.

This work underlines that integration policies favoring equal rights as nationals may contribute to both women’s tertiary education and their probability of being in the labor force.

We explore female integration in Europe in the dimensions of education, labor market, fertility and the role of both immigrants’ cultural heritage and specific aspects of destination countries. Previous research, particularly in the USA, has generally focused on some of these features at the expense of a more comprehensive approach. This study builds upon the existing literature and contributes to it by taking a multifaceted approach to female integration in Western Europe, which presents not only an institutional context different from the USA but also some heterogeneity with respect to integration policies and socioeconomic factors.

The purpose of this paper is to present an oligopolistic version of the cobweb model that departs from the strict assumptions of perfect competition in the traditional cobweb model.

Introducing a model where n identical producers engage in Cournot competition, with output decisions influencing market prices. The paper retains the original assumptions of naive expectations and a linear model where price expectations of Cournot competitors are made simultaneously with production decisions. The investigation focuses on the model's behavior as the number of producers decreases or industry concentration increases. The authors also show empirical evidence when drawing the data from the pig sector in China and the USA.

The findings indicate that the cobweb model undergoes a transition from divergent to continuous and even convergent as the number of producers decreases or industry concentration increases. The incorporation of costs related to entry and exit from the market contributes to achieving a more stable equilibrium state.

The cobweb model has been primarily studied in an idealized market structure of perfect competition, and the assumptions that they share are not obviously appropriate to many agriculture markets. This study presents an alternative version of the cobweb model in an oligopolistic market that relaxes the strict assumptions of perfect competition. The authors show the dynamics of reduced competitor numbers or increased industry concentration on the convergence of the cobweb model based on subtle variations in parameters.

The study seeks to evaluate the effect of capital adequacy and competition on the liquidity creation of Kenyan commercial banks.

Unbalanced panel data from 36 Kenyan commercial banks with licenses from 2001 to 2020 is used in the study. The generalized method of moments (GMM), a two-step system, is employed in the investigation. To increase the robustness and prevent erroneous findings, serial correlation tests and instrumental validity analyses are used. The methodology developed by Berger and Bouwman (2009) is used to estimate the commercial banks' levels of liquidity creation.

The study supports the financial fragility-crowding out hypothesis by finding a significant negative effect of capital adequacy on the liquidity creation of commercial banks. The research also identifies a significant inverse relationship between competition and liquidity creation, depicting competition's value-destroying effect.

A trade-off exists between capital adequacy and liquidity creation, which must be carefully evaluated as changes in capital requirements are considered. The value-destroying effect of competition on liquidity creation presents a case for policy geared toward consolidating banks' operations through possible mergers and acquisitions.

To the best of the authors' knowledge, this is the first study to empirically offer evidence concurrently on the effect of competition and capital adequacy on the liquidity creation of commercial banks in a developing economy such as Kenya. Additionally, the authors employ a novel measure of competition at the firm level.

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.

The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.

Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.

There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.

Autonomous flight of unmanned aerial vehicles (UAVs) in global position system (GPS)-denied environments has become an increasing research hotspot. This paper aims to realize the indoor fixed-point hovering control and autonomous flight for UAVs based on visual inertial simultaneous localization and mapping (SLAM) and sensor fusion algorithm based on extended Kalman filter.

The fundamental of the proposed method is using visual inertial SLAM to estimate the position information of the UAV and position-speed double-loop controller to control the UAV. The motion and observation models of the UAV and the fusion algorithm are given. Finally, experiments are performed to test the proposed algorithms.

A position-speed double-loop controller is proposed, by fusing the position information obtained by visual inertial SLAM with the data of airborne sensors. The experiment results of the indoor fixed-points hovering show that UAV flight control can be realized based on visual inertial SLAM in the absence of GPS.

A position-speed double-loop controller for UAV is designed and tested, which provides a more stable position estimation and enabled UAV to fly autonomously and hover in GPS-denied environment.