A host of technologies has been developed to achieve these aims of the smart grid. Some of these technologies include plug-in electric vehicle, demand response program, energy storage system and renewable distributed generation. However, the integration of the smart grid technologies in the power system operation studies such as economic emission unit commitment problem causes two major challen...

One of the significant strategies of the power systems is Economic Dispatch (ED) problem, which is defined as the optimal generation of power units to produce energy at the lowest cost by fulfilling the demand within several limits. The undeniable impacts of ramp rate limits, valve loading, prohibited operating zone, spinning reserve and multi-fuel option on the economic dispatch of practical p...

Over the next 10 years a major controversy developed over whether the Federal Reserve recognized or placed enough emphasis on its responsibility for controlling the growth of the money stock. The related question of which operating strategy to follow in controlling the money stock was pushed to the background. Economists can argue at great lengths over the extent to which the Federal Reserve tr...

Deregulation policy has caused some changes in the concepts of power systems reliability assessment and enhancement. In this paper, generation reliability is considered, and a method for its assessment using intelligent systems is proposed. Also, because of power market and generators’ forced outages stochastic behavior, Monte Carlo Simulation is used for reliability evaluation. Generation r...

Carsharing operators, which rent out electric vehicles for minutes or hours, lose money on idle vehicles. We develop a model that allows carsharing operators to offer the storage of these vehicles on operating reserve markets (market for quickly rampable back-up power sources that replace for instance failing power plants). We consider it a dispatch and pricing problem with the tradeoff between...

The US economy experienced excessive demand for housing for over a decade, causing a housing boom. Consumers went on a spending spree driven by higher and higher, real and perceived home equity values, as well as equity market increases. In the US market, “bigger is better” or “as much as one can afford” became the mentality of home buyers. In addition, consumers were driven to buy houses now t...

As the banking industry has consolidated in recent years, the number of banking organizations in the U.S. and in the Twelfth Federal Reserve District has declined dramatically.This consolidation trend raises public policy issues because of its implications for concentration and therefore competition in local banking markets. Specifically, mergers between banks in the same local market increase ...

It is often the case that banks in the US are willing to borrow in the fed funds market (the interbank market for funds) at higher rates than the ones they could obtain by borrowing at the Fed’s discount window. This phenomenon is commonly explained as the consequence of the existence of a stigma effect attached to borrowing from the window. We provide a model where market participants may rega...

Two features common to many auctions are the use of reserve prices and the existence of secondary markets for the goods being sold. Even in simple symmetric settings, the combination of these features can preclude existence of an equilibrium in symmetric separating bidding strategies. With a reserve price sufficiently far below the maximum (endogenous) valuation, a symmetric equilibrium still e...