In this paper a new approach of bilinear predictive control is presented. The approach is based in the Bilinear Generalized Predictive Control (BGPC), strategy that uses a time-step quasi-linearised NARIMAX model. In that approach, due to the used model, a prediction error exist, which increases with the prediction horizon, degrading the performance of that controller. Thus, in the present appr...

In the paper we propose PD calibration framework for LDP that allows producing smooth non-zero PD estimates for any given time horizon within the length of economic cycle. The advantages of the approach is that produced PDs are consistent with two main anchors – PIT and TTC PD estimates and are subject to smooth, monotonic transition between those two anchors. In practise, proposed framework co...

Traditional bankruptcy prediction models, designed using classification or regression techniques, achieve short-term performances (1 year) that are fairly good, but that often worsen when the prediction horizon exceeds 1 year. We show how to improve the performance of such models beyond one year using models that take into account the evolution of firm financial health over a short period of ti...

This paper examines the implications of payout horizon for the prices of aggregate cashflows. The interaction of two long-run forces — a long-run risk in consumption and aggregate dividends, and a cointegration relationship between consumption and aggregate dividends — leads to non-monotonic relationships between a payout’s horizon and its cash flow risks, discount rate risks, and risk premia. ...

A recent survey by Brookshire, et. al., (2006) suggests that forensic economists are mixed in their use of current versus historical data to estimate future net discount rates.1 Typically the choice is between a long-term average or simply the current prevailing rate.2 Cushing and Rosenbaum (2006) proposed an estimator that optimally uses the information in the past behavior of net discount rat...

The impact of the increase of greenhouse gases on Sahelian precipitation is very uncertain in both its spatial pattern and magnitude. In particular, the relative importance of internal variability versus external forcings depends on the time horizon considered in the climate projection. In this study we address the respective roles of the internal climate variability versus external forcings on...

Abstract We consider a Cauchy–Dirichlet problem for quasilinear second order parabolic equation with lower term driven by singular coefficient. establish an existence result to such and we describe the time behavior of solution in case infinite–time horizon.

In this paper we propose a way of increasing the efficiency of some direct Receding Horizon Control (RHC) schemes. The basic idea is to adapt the allocation of computational resources to how the iterative plans are used. By using Gradual Dense-Sparse discretizations (GDS), we make sure that the plans are detailed where they need to be, i.e., in the very near future, and less detailed further ah...

Renewable energy sources, such as solar and wind power, have been widely used in various forms of networks, which include both communication networks and the smart power grid. Since the renewable energy is usually highly fluctuating, the temporal and spatial dynamics of such sources are often difficult to model and predict. This makes it extremely challenging to incorporate and operate such ene...