scholarly journals Competition in a Wholesale Fuel Market—The Impact of the Structural Changes Caused by COVID-19

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4211
Author(s):  
Sylwester Bejger
Keyword(s):  
Crude Oil ◽  
Structural Changes ◽  
Consumer Surplus ◽  
Global Market ◽  
Liquid Fuels ◽  
Wholesale Market ◽  
Potential Market ◽  
Before And After ◽  
Energy Products ◽  
The Impact

Liquid fuels obtained in refining crude oil are one of the most important energies in economic activity. The domestic wholesale market for liquid fuels is of decisive importance for price formation in the national economy. The noncompetitive behavior of the market players at this level of the distribution chain can significantly affect all downstream price levels and the producer–consumer surplus balance. Therefore, the competitiveness of this market should be screened and assessed regularly, especially when significant external factors change. This article attempts to evaluate the impact of structural changes on the global market of crude oil and energy products after the outbreak of the COVID-19 pandemic on the competitiveness of the wholesale fuel market in Poland. Using asymmetry of the reaction of product prices to changes in the prices of inputs as a marker of noncompetitive behavior and the NARDL model as a test specification, the price paths of market players before and after the occurrence of structural changes in the inputs’ processes were examined. Significant changes in the competitive behavior of players were revealed after the occurrence of structural changes at the beginning of the pandemic period in the year 2020. These changes may indicate enhanced competition and mitigation of potential market power abuse.

Degradation of Great Tit (Parus Major) Song Before And After Foliation: Implications for Vocal Communication in a Deciduous Forest

Behaviour ◽  
2004 ◽  
Vol 141 (8) ◽  
pp. 935-958 ◽  
Author(s):  
Sandra Blumenrath ◽  
Torben Dabelsteen
Keyword(s):  
Information Transfer ◽  
Structural Changes ◽  
Vocal Communication ◽  
Deciduous Forest ◽  
Parus Major ◽  
Great Tit ◽  
Transmission Experiment ◽  
Distance Information ◽  
Before And After ◽  
The Impact

AbstractSongbirds living in temperate forests experience great seasonal changes in habitat acoustics during the part of the breeding season when singing activity is high. These changes, which are brought about by accelerated vegetation growth and leaf burst in spring, affect sound propagation and potentially render vocal communication more difficult as the total number of scattering and absorbing obstacles increases. We investigated this in a sound transmission experiment in which representative great tit (Parus major) songs were broadcast in a typical forest habitat before and after foliation. Speaker and microphone were placed at natural separation distances and in typical sender and receiver positions. For each song note we quantified several aspects of sound degradation and found that they all increased considerably when leaves were present. Before foliation the same amount of degradation would only be obtained by doubling the transmission distance, i.e. foliage shortens the active space of great tit song. This inevitably alters distance information, provided that distance-dependent, structural changes of received songs are used as ranging cues. Moreover, sender and receiver positions within the canopy become unfavourable compared to heights just below the canopy when the aim is to maximise song propagation distances. Altogether, the presence of foliage greatly affects the potential for vocal information transfer in great tits and requires behavioural and/or perceptual adjustment of the communicating individuals to counteract or reduce the impact of foliage on signal degradation.

scholarly journals The Impact of Political Events - “Name Issue” on an Emerging Macedonian Stock Market

2011 ◽  
Vol 1 (2) ◽  
pp. 203 ◽  
Author(s):  
Julijana Angelovska
Keyword(s):  
European Union ◽  
Structural Changes ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Candidate Country ◽  
The European Union ◽  
Political Events ◽  
Before And After ◽  
The Status ◽  
The Impact

The objective of the research is to investigate the impact of political events – “name issue” on the Macedonian Stock Exchange (MSE). Structural changes in volatility of Macedonian capital market seems to be more a consequence of political changes, especially from the perspective of international politics and the association of the country into NATO and the European Union. The research analyzes the response of capital markets to political events. Such an event is the summit in Bucharest as the day D (03/04/2008) which certainly had an impact because of prolonged unresolved problem of the name imposed by Greece. Visa liberalization and the day of solving the status of candidate country for accession to the European Union will be discussed too. An event methodology is employed, and the results suggest that the market respond to all political events connected “name issue”. The results also indicate that there is no difference between the means of abnormal returns before and after the event. Sensitivity of the Macedonian investor related to any information connected to the word "name" is enormous. The Macedonian investor belief is that if “name” issue would be solved, regardless of possible negative real economic flows stock exchange will increase. The paper provides information regarding the effects of solving this name issue on Macedonian investor, and his expectation on this issue. But even if it is solved, the global economic crises and difficult economic situation in Macedonia especially this situation will be temporary and due to low liquidity, foreigners may use local optimism to sell their shares.

scholarly journals Consumer Welfare of Country-of-Origin Labelling and Traceability Policies

Agronomy ◽  
2021 ◽  
Vol 11 (5) ◽  
pp. 916
Author(s):  
Joel Bruneau ◽  
Albert I. Ugochukwu
Keyword(s):  
Market Failure ◽  
International Adoption ◽  
Country Of Origin ◽  
Consumer Surplus ◽  
Consumer Welfare ◽  
Free Rider ◽  
Free Rider Problem ◽  
Potential Market ◽  
International Trading ◽  
The Impact

Traceability regulations are a way to protect consumers by forcing firms to identify and track products step-by-step through all stages of production, processing, and distribution. Traceability is often used in conjunction with country-of-origin labelling where products explicitly identify where production takes place. However, such country-of-origin regulations can conflict with WTO provisions. This paper analyzes the impact on consumer welfare of traceability and country-of-origin in an international trading regime to assess whether such regulations actually improve consumer welfare. The paper constructs a theoretical model that highlights the potential market failure that arises from traceability. The paper then introduces a simple international trade regime to identify impacts on consumer surplus. The paper compares outcomes with, and without, traceability and country-of-origin regulations. Given the inherent free-rider problem, the paper shows that, as long as costs associated with traceability are low enough, mandatory regulations are welfare improving. Free trade, in the absence of foreign traceability, can lower consumer welfare so provides a rationale for country-of-origin rules. However, mandatory country-of-origin rules need not be welfare enhancing. We show that country-of-origin rules are similar to import barriers and so are third-best solutions. The better solution is international adoption and recognition of traceability rules which would make country-of-origin rules moot.

scholarly journals The external sector shocks and macroeconomics in Nigeria

2021 ◽  
Vol 09 (02) ◽  
Author(s):  
Ohiomoje Iyemifokhae Abubakar ◽  
Keyword(s):  
Gross Domestic Product ◽  
Central Bank ◽  
Crude Oil ◽  
Oil And Gas Industry ◽  
Global Market ◽  
Terms Of Trade ◽  
Domestic Product ◽  
Product Price ◽  
External Sector ◽  
The Impact

The study examines the relationship between some key macroeconomic indicators in Nigeria and the external sector. During the period under review, it was discovered that crude oil had a lion’s share of Nigeria’s export earnings and the international demand for the country’s non-oil exports was unimpressive due to the development of synthetic alternatives, discriminative tariffs and new entrants in the global market (Central Bank of Nigeria, 2008). Consequently, most of the research on this topic hinged their framework on shocks from the oil sector (see Lukman and Olomola, 2016). In contemporary times, however, the contribution of crude oil to Nigeria’s gross domestic product has been dwindling. As at 2019, the entire oil and gas industry contributed less than 10% of Nigeria’s gross domestic product (Central Bank of Nigeria (CBN), 2019). There was the need to examine the external sector from a more comprehensive approach and framework. Therefore, this study evaluated the impact of shocks from Nigeria’s terms of trade and major foreign stock market index on macroeconomics in Nigeria. The methodology adopted for this study is the vector autoregressive technique, impulse response function and the error variance decomposition method. The findings show that the gross domestic product, price level and interest rate respond strongly in the short run (1-2 years), gradually fluctuates in the medium term (3-5 years) and become stable in the long run (6-10 years) due to shocks from the Dow Jones index and Nigeria’s terms of trade. Thus, intervention policies should focus on mitigating the impact of external sector shocks on macroeconomics in the short and medium terms when the impact is enormous.

scholarly journals Impact of artificial intelligence and machine learning on business operations

2021 ◽  
Vol 8 (2) ◽  
pp. 69-74
Author(s):  
Nilesh Anute ◽  
Manish Paliwal ◽  
Meet Patel ◽  
Nikita Kandale
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Systematic Approach ◽  
Industrial Revolution ◽  
Global Market ◽  
Entrepreneurial Activity ◽  
Business Operations ◽  
Literature Reviews ◽  
Before And After ◽  
The Impact

The objective of the paper is to determine the impacts of Artificial intelligence, and a machine learning on Business operations and to identify the impact by using a systematic approach of the artificial intelligence and a machine learning in an industry. With the introduction of an industry 4.0 the technology of the artificial intelligence and a machine learning is leading to an industrial revolution. A literature reviews on Machine learning and artificial intelligence is studied to identify the impacts of both technologies on business before and after this industrial 4.0 an introduction from 1999. From last few years, we have observed many products and services their industrial availability, and social economic impacts, this emerges questions on Artificial intelligence are hype or a reality. This paper addresses the impact of both these technologies on an entrepreneurial activity and thus on a global market.

scholarly journals Multiple Breakpoint Test on Crude Oil Price

2019 ◽  
Vol 11 (1) ◽  
pp. 187-196 ◽  
Author(s):  
Seuk Wai Phoong ◽  
Seuk Yen Phoong ◽  
Sedigheh Moghavvemi ◽  
Kok Hau Phoong
Keyword(s):  
Crude Oil ◽  
Alternative Energy ◽  
Structural Changes ◽  
Consumer Price Index ◽  
Oil Price ◽  
Crude Oil Price ◽  
Alternative Energy Sources ◽  
Domestic Prices ◽  
Pass Through ◽  
The Impact

Abstract The impact of structural changes as well as breaks on oil price fluctuations is studied in this article. There are a few channels, such as domestic prices and inflation, that cause the effect of oil price to pass through the economy. The higher crude oil price is immediately followed by the increase in oil products such as gasoline and heating oil. The direct effects continue as people choose alternative energy sources, leading to the increase in price. Besides, the indirect effect on inflation as a result of the behavioral responses of the firms and workers which is known as the “second round” effects in which higher wages is being demanded. This article uses exploratory data analysis to discover the patterns of the variables’ series and then examines the relationship between oil price and consumer price index. Multiple breakpoint test is thereafter used to identify the structural changes in time-varying variables.

scholarly journals Mechanistic Approach to Thermal Production of New Materials from Asphaltenes of Castilla Crude Oil

Processes ◽  
2020 ◽  
Vol 8 (12) ◽  
pp. 1644
Author(s):  
Natalia Afanasjeva ◽  
Andrea González-Córdoba ◽  
Manuel Palencia
Keyword(s):  
Crude Oil ◽  
Structural Changes ◽  
Gas Chromatography Mass Spectrometry ◽  
New Materials ◽  
Gaseous Products ◽  
Chemical Structures ◽  
Mechanistic Approach ◽  
Before And After ◽  
Liquid Products ◽  
Average Size

Asphaltenes are compounds present in crude oils that influence their rheology, raising problems related to the extraction, transport, and refining. This work centered on the chemical and structural changes of the asphaltenes from the heavy Colombian Castilla crude oil during pyrolysis between 330 and 450 °C. Also, the development of new strategies to apply these macromolecules, and the possible use of the cracking products as a source of new materials were analyzed. The obtained products (coke, liquid, and gas) were collected and evaluated through the techniques of proton and carbon-13 nuclear magnetic resonance (1H and 13C NMR), elemental composition, Fourier-transform infrared spectroscopy (FTIR), X-ray powder diffraction (XRD), saturates, aromatics, resins, and asphaltenes (SARA) analysis, and gas chromatography–mass spectrometry (GC-MS). A comparison of the applied methods showed that the asphaltene molecules increased the average size of their aromatic sheets, lost their aliphatic chains, condensed their aromatic groups, and increased their degree of unsaturation during pyrolysis. In the liquid products were identified alkylbenzenes, n-alkanes C9–C30, and n-alkenes. Moreover, the gaseous products included methane, ethane, propane, and pentane. An approach of the structural chain reaction was used to define the possible asphaltenes chemical structures before and after pyrolysis. In conclusion, this type of thermal process can be used as an easy route to attain new materials associated with specific structural units from the asphaltenes.

scholarly journals Research on Crude Oil Demulsification Using the Combined Method of Ultrasound and Chemical Demulsifier

2017 ◽  
Vol 2017 ◽  
pp. 1-7 ◽  
Author(s):  
Mingxu Yi ◽  
Jun Huang ◽  
Lifeng Wang
Keyword(s):  
Crude Oil ◽  
Treatment Time ◽  
Imaging System ◽  
Ultrasonic Power ◽  
Combined Method ◽  
Dehydration Rate ◽  
Droplet Distribution ◽  
Before And After ◽  
Different Temperatures ◽  
The Impact

In this paper, experiments of crude oil demulsification using ultrasound, chemical demulsifier, and the combined method of ultrasound and chemical demulsifier, respectively, at different temperatures (40°C, 60°C, and 70°C) are carried out. The photos of water droplet distribution in crude oil, taken with microscopic imaging system, before and after demulsification using the above methods at 70°C are given. Research results show that the combined method of ultrasound and chemical demulsifier has the best demulsification effect, followed by chemical demulsifier. Ultrasound without using chemical demulsifier has the least demulsification effect. Furthermore, the impact of ultrasonic power, treatment time, and temperature on crude oil demulsification using the combined method of ultrasound and chemical demulsifier is studied. Results indicate that the final dehydration rate increases with the increase of temperatures and ultrasonic power and almost does not change with the increase of ultrasonic treatment time. These important conclusions will provide the foundation for an extensive application of the combined method of ultrasound and chemical demulsifier.

scholarly journals Influence of reduction conditions of NiO on its mechanical and electrical properties

2016 ◽  
Vol 6 (1) ◽  
pp. 113 ◽  
Author(s):  
Yehor Brodnikovskyi ◽  
Bogdan Vasyliv ◽  
Viktoriya Podhurska ◽  
Mariusz Andrzejczuk ◽  
Nikkia McDonald ◽  
...  
Keyword(s):  
Electrical Conductivity ◽  
Electrical Properties ◽  
Structural Changes ◽  
Reduction Stage ◽  
Mechanical And Electrical Properties ◽  
Before And After ◽  
Mechanical Durability ◽  
And Performance ◽  
The Impact ◽  
Volume Decrease

<p class="PaperAbstract"><span lang="EN-GB">Yttria stabilized zirconia with a nickel catalyst (Ni-YSZ) is the most developed, widely used cermet anode for manufacturing Solid Oxide Fuel Cells (SOFCs). Its electro-catalytic properties, mechanical durability and performance stability in hydrogen-rich environ­ments makes it the state of the art fuel electrode for SOFCs. During the reduction stage in initial SOFC operation, the virgin anode material, a NiO-YSZ mixture, is reduced to Ni-YSZ. The volume decrease associated with the change from NiO-YSZ to Ni-YSZ creates voids and causes structural changes, which can influence the physical properties of the anode. In this work, the structural, mechanical and electrical properties of NiO samples before and after reduction in pure H<sub>2</sub> and a mixture of 5 vol. % H<sub>2</sub>-Ar were studied. The NiO to Ni phase transformations that occur in the anode under reducing and Reduction-Oxidation (RedOx) cycling conditions and the impact on cell microstruc­ture, strength and electrical conductivity have been examined. Results show that the RedOx treatment of the NiO samples influence on their properties controversially, due to structural transfor­mation (formation of large amount of fine pores) of the reduced Ni. It strengthened the treated samples yielding the highest mechanical strength values of 25.7 MPa, but from another side it is resulting in lowest electrical conductivity value of 1.9×10<sup>5</sup> S m<sup>-1</sup> among all reduced samples. The results of this investigation shows that reduction conditions of NiO is a powerful tool for influence on properties of the anode substrate.</span></p>

International trade: Research of the reasons for the fall

2019 ◽  
pp. 79-91 ◽  
Author(s):  
V. S. Nazarov ◽  
S. S. Lazaryan ◽  
I. V. Nikonov ◽  
A. I. Votinov
Keyword(s):  
Growth Rate ◽  
International Trade ◽  
Exchange Rate ◽  
Global Economy ◽  
Structural Changes ◽  
Global Value Chains ◽  
Value Chains ◽  
Negative Contribution ◽  
Basic Commodity ◽  
The Impact

The article assesses the impact of various factors on the growth rate of international trade. Many experts interpreted the cross-border flows of goods decline against the backdrop of a growing global economy as an alarming sign that indicates a slowdown in the processes of globalization. To determine the reasons for the dynamics of international trade, the decompositions of its growth rate were carried out and allowed to single out the effect of the dollar exchange rate, the commodities prices and global value chains on the change in the volume of trade. As a result, it was discovered that the most part of the dynamics of international trade is due to fluctuations in the exchange rate of the dollar and prices for basic commodity groups. The negative contribution of trade within global value chains in 2014 was also revealed. During the investigated period (2000—2014), such a picture was observed only in the crisis periods, which may indicate the beginning of structural changes in the world trade.

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