During SIBEX the acoustically evaluated amount of krill in the Bransfield Strait and Drake Passage was very low with the mean density 3.24 individuals/m2 and 4.29 individuals/m2 accordingly. Any substantial quantities of krill were found North-West from the Elephant Island and North from the King George Island, where the density of krill exceeded 1000 individuals/m2 (about 100 t/nM2]). The total biomass was estimated at 70590 ton in the Bransfield Strait and at 122470 ton in the Drake Passage, which was many times less than during FIBEX 81, especially in the Bransfield Strait.
Results from the hydro-acoustic studies aiming at evaluation of the Euphausia superba biomass in the Bransfield Strait in March 1981 are presented. These investigations, called conventionally Micro-FIBEX, were carried out on the r/v "Profesor Siedlecki" during 13-16 .March 1981, as continuation of the studies carried out in that region within the scheme of the FIBEX programme in the period of 5-12 March 1981. The abundance of the biomass was estimated at 258 thousand ton, which at the investigated area of about 1755 NM2 gives the mean value of biomass density 142 t/NM2 (41.4 g/m2).
Stocks of krill in the southern part of the Drake Passage and in the Bransfield Strait were estimated by the hydroacoustic method, during the BIOMASS-FIBEX expedition (Febr.-March 1981). Krill stocks in the Drake Passage and Bransfield Strait were assessed at about 1.2 and 2.3 mln tons, respectively. A map of krill distribution in these regions was prepared. The main krill biomass (66%) was found to occur within the Bransfield Strait which accounts for only 13.7% of the total area under survey.
Results of hydroacoustic investigations of krill biomass carried out in the South Shetland Island region between October 1986 and January 1987 are presented. A considerable difference in the krill biomass between Antarctic spring and summer was recorded. Initially observations were conducted close to Elephant Island, in the period just after the retreated of compact ice cover. Krill then aggregated only in swarms, the density of which frequently exceeded 100 t nM-2 . In the region of Polygon I (30—31 October 1986) the total estimated biomass was 26899 t, in the region of Polygon II (6—10 November 1986) it was 25827 t. Investigations were repeated in January 1987 obtaining 112372 t in the Bransfield Strait and 390309 t in the region of Elephant Island. The results are presented in tables and maps.
In this paper, we use weekly stock market data to examine whether the volatility of stock returns of ten emerging capital markets of the new EU member countries has changed since the opening of their capital markets. In particular we are interested in understanding whether there are high and low periods of stock returns volatility and what the degree of correlation across these markets is. We estimate a Markov-Switching ARCH (SWARCH) model proposed by Hamilton and Susmel (1994) and we allow for the possibility that two or three volatility regimes may exist for stock returns volatility. The main finding of the present study is that the high volatility of stock returns of all new EU emerging stock markets is associated mainly with the 1997‒1998 Asian and Russian financial crises as well as over the 2007‒2009 financial turmoil, while there is a transition to the low volatility regime as they approach the accession to the EU in 2004. It is also shown that the capital flows liberalization process has resulted in an increase in volatility of stock returns in most cases.
In this paper, the stock price-inflation nexus is investigated using the tools of wavelet power spectrum, cross-wavelet power spectrum and cross-wavelet coherency to unravel time and frequency dependent relationships between stock prices and inflation. Our results suggest that for a frequency band between sixteen and thirty two months, there is some evidence of the fisher effect. For rest of the frequencies and time periods however there is no evidence of the fisher effect and it seems stock prices have not played any role as an inflation hedge.
Results of hydroacoustic investigations of krill swarms occurring southwest of Elephant Island carried out between 30 October and 5 November 1986, are presented. Krill swarms of the geometric length of 32 m, mean vertical cross section area of 206 m2 , and mean density of 133 g m-3 were recorded and measured. Biomass distribution is presented in maps. The highest density values amounting to 5001 nM-2 were recorded in the eastern part of the survey area, above the slope of Elephant Island's shelf. On the basis of upper and lower limits of the occurrence of given krill swarms, a scheme of their vertical, diurnal distribution was constructed.
It has been found that the area where one can look for significant reserves in the procurement logistics is a rational management
of the stock of raw materials. Currently, the main purpose of projects which increase the efficiency of inventory management is to
rationalise all the activities in this area, taking into account and minimising at the same time the total inventory costs. The paper presents
a method for optimising the inventory level of raw materials under a foundry plant conditions using two different control models. The first
model is based on the estimate of an optimal level of the minimum emergency stock of raw materials, giving information about the need
for an order to be placed immediately and about the optimal size of consignments ordered after the minimum emergency level has
occurred. The second model is based on the estimate of a maximum inventory level of raw materials and an optimal order cycle.
Optimisation of the presented models has been based on the previously done selection and use of rational methods for forecasting the time
series of the delivery of a chosen auxiliary material (ceramic filters) to a casting plant, including forecasting a mean size of the delivered
batch of products and its standard deviation
Make-To-Stock (MTS) and Make-To-Order (MTO) are the two traditional strategies in
production management. In the case of the MTS there is a growing demand for a new
approach, which is called Make-To-Availability (MTA) strategy. The paper characterizes and
compares the MTS and MTA strategies. The comparative analysis based, among others, on
computational experiments carried out in a computer program developed in Microsoft Visual
Studio 2017 Environment was presented. The models have been prepared for both strategies
with the same assumptions: external conditions (market demand) and internal conditions
(structure of the production process). The investigation of how the strategies respond to
various scenarios of demand intensity was done. The simulation models were prepared and
validated for the case of the production line in one of the industrial automation company.
The research shows that the use of the MTA strategy in the majority of cases gives much
better results than the use of the MTS strategy due to the minimization of storage costs and
the costs of non-fulfillment of the customers’ demand. The directions for further research
were also presented.
This paper describes a forecasting exercise of close-to-open returns on major global stock indices, based on high-frequency price patterns that have become available in foreign markets overnight. Generally speaking, out-of-sample forecast performance depends on the forecast method as well as the information that the forecasts are based on. In this paper both aspects are considered. The fact that the close-to-open gap is a scalar response variable to a functional variable, namely an overnight foreign price pattern, brings the prediction exercise in the realm of functional data analysis. Both parametric and non-parametric functional data analysis are considered, and compared with a simple linear benchmark model. The information set is varied by dividing global markets into three clusters, Asia-Pacific, Europe and North-America, and including or excluding price patterns on a per-cluster basis. The overall best performing forecast is nonparametric using all available information, suggesting the presence of nonlinear relations between the overnight price patterns and the opening gaps.
The article aims to evaluate the Portuguese building stock energy policies and strategy for energy saving in buildings among the EU members. It was found out the average heat transfer coefficients of the main structural elements of Portuguese Buildings and analyzed the U-values of this elements considering different time periods.
The fundamentals of this study were funded by the Agency for Development and Innovation (ADI) and co-financed by the European Regional Development Fund (FEDER) through the Operational Program for Competitiveness Factors (POFC) assigned to the Building Physics and Construction Technology Laboratory with the reference SB Tool SPT_2011_4.