We present an approach for pricing of illiquid bonds (and bond derivatives) in an arbitrage-free way and consistently with observed prices of liquid bonds. The basic model is a multifactor term structure model with abstract latent factors. The approach is based on stochastic filtering techniques, leading to a continuous update of the distribution of the latent factors on the basis of the inform...

Variable speed drive systems of brushless DC motors have been widely used for industry applications, home electric appliances, and so on, due to the progress of the power electronics, because of simple structure, easy maintenance, high efficiency, etc.. Moreover, because the brushless DC motor can realize the same high performance as DC motor, it is used in the fields where the high speed and h...

This paper discusses the Dynamic voltage restorer (DVR) operation and control for Voltage sags compensation. DVR is a series connected power electronic based device that can quickly mitigate the voltage sags in the system and restore the load voltage to the pre-fault value. Voltage sag associated with faults in transmission and distribution systems, energizing of transformers, and starting of l...

Medium-and-long-term load forecasting plays an important role in energy policy implementation and electric department investment decision. Aiming to improve the robustness and accuracy of annual electric load forecasting, a robust weighted combination load forecasting method based on forecast model filtering and adaptive variable weight determination is proposed. Similar years of selection is c...

this study was conducted in order to evaluate the effects of long term ageing on toughness andresilient modulus of asphalt concrete mixtures containing electric arc and basic oxygen furnacesteel slags. after initial evaluation of the properties of steel slags using x-ray diffraction andscanning electric microscope, eleven sets of laboratory mixtures were prepared. each set wastreated replacing ...