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Search Results: 1 - 10 of 5121 matches for " Hanfeng Liao "
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A Study on the Law of Cyclical Fluctuation of Carbon Price—Empirical Evidence from EU ETS  [PDF]
Xing Yang, Hanfeng Liao
Low Carbon Economy (LCE) , 2018, DOI: 10.4236/lce.2018.94007
Abstract: Based on the trading data of the Bluenext and the European Climate Exchange (ECX), this paper analyzes the cyclic price fluctuations of the EU carbon emission rights by means of the maximum entropy spectrum and wavelet variance. The results show that: 1) there are obvious cyclical price fluctuations in the EU carbon trading market, with the longest cycle being 33 months and the shortest 5.7; 2) researches on the factors that affect the cyclical price fluctuations of carbon emission rights manifest that power prices (POWER) exert the greatest implication on the prices of carbon emission rights, followed by coal prices (COAL). For every 1% change in POWER, the price of carbon emission rights changes 10.95% towards the same direction. For every 1% change in COAL, the price of carbon emissions changes 9.28% towards the opposite; 3) research based on variance decomposition demonstrates that electricity prices contribute the most to the changes of the price of carbon emissions, and the variance contribution rate is 13% at a lag cycle of 30 days.
Analysis and Tests on Weak-Form Efficiency of the EU Carbon Emission Trading Market  [PDF]
Xing Yang, Hanfeng Liao, Xiaoying Feng, Xingcai Yao
Low Carbon Economy (LCE) , 2018, DOI: 10.4236/lce.2018.91001
Abstract: This study separately applies Lo MacKinlay traditional variance ratio test, Wright non-parametric test, Chow Denning multiple variance ratio test and Joint Wright multiple variance ratio test to analyze and test the features of the EU carbon emission market and the results show that: in the 12-year development of the EU carbon emission trading, only the rate of return in the second stage follows the Martingale Process, showing a weak-form efficient market, while the first and third stages fail to possess features of an efficient market.
C*-algebraic quantum Gromov-Hausdorff distance
Hanfeng Li
Mathematics , 2003,
Abstract: We introduce a new quantum Gromov-Hausdorff distance between C*-algebraic compact quantum metric spaces. Because it is able to distinguish algebraic structures, this new distance fixes a weakness of Rieffel's quantum distance. We show that this new quantum distance has properties analogous to the basic properties of the classical Gromov-Hausdorff distance, and we give criteria for when a parameterized family of C*-algebraic compact quantum metric spaces is continuous with respect to this new distance.
Order-unit quantum Gromov-Hausdorff distance
Hanfeng Li
Mathematics , 2003,
Abstract: We introduce a new distance dist_oq between compact quantum metric spaces. We show that dist_oq is Lipschitz equivalent to Rieffel's distance dist_q, and give criteria for when a parameterized family of compact quantum metric spaces is continuous with respect to dist_oq. As applications, we show that the continuity of a parameterized family of quantum metric spaces induced by ergodic actions of a fixed compact group is determined by the multiplicities of the actions, generalizing Rieffel's work on noncommutative tori and integral coadjoint orbits of semisimple compact connected Lie groups; we also show that the theta-deformations of Connes and Landi are continuous in the parameter theta.
theta-deformations as compact quantum metric spaces
Hanfeng Li
Mathematics , 2003, DOI: 10.1007/s00220-005-1318-5
Abstract: Let M be a compact spin manifold with a smooth action of the n-torus. Connes and Landi constructed theta-deformations M_{theta} of M, parameterized by n by n real skew-symmetric matrices theta. The M_{theta}'s together with the canonical Dirac operator (D, H) on M are an isospectral deformation of M. The Dirac operator D defines a Lipschitz seminorm on C(M_{theta}), which defines a metric on the state space of C(M_{theta}). We show that when M is connected, this metric induces the weak-* topology. This means that M_{theta} is a compact quantum metric space in the sense of Rieffel.
Smooth approximation of Lipschitz projections
Hanfeng Li
Mathematics , 2008,
Abstract: We show that any Lipschitz projection-valued function p on a connected closed Riemannian manifold can be approximated uniformly by smooth projection-valued functions q with Lipschitz constant close to that of p. This answers a question of Rieffel.
A Hilbert C*-module admitting no frames
Hanfeng Li
Mathematics , 2008, DOI: 10.1112/blms/bdp109
Abstract: We show that every infinite-dimensional commutative unital C*-algebra has a Hilbert C*-module admitting no frames. In particular, this shows that Kasparov's stabilization theorem for countably generated Hilbert C*-modules can not be extended to arbitrary Hilbert C*-modules.
Metric aspects of noncommutative homogeneous spaces
Hanfeng Li
Mathematics , 2008,
Abstract: For a closed cocompact subgroup $\Gamma$ of a locally compact group $G$, given a compact abelian subgroup $K$ of $G$ and a homomorphism $\rho:\hat{K}\to G$ satisfying certain conditions, Landstad and Raeburn constructed equivariant noncommutative deformations $C^*(\hat{G}/\Gamma, \rho)$ of the homogeneous space $G/\Gamma$, generalizing Rieffel's construction of quantum Heisenberg manifolds. We show that when $G$ is a Lie group and $G/\Gamma$ is connected, given any norm on the Lie algebra of $G$, the seminorm on $C^*(\hat{G}/\Gamma, \rho)$ induced by the derivation map of the canonical $G$-action defines a compact quantum metric. Furthermore, it is shown that this compact quantum metric space depends on $\rho$ continuously, with respect to quantum Gromov-Hausdorff distances.
Flabby strict deformation quantizations and K-groups
Hanfeng Li
Mathematics , 2003,
Abstract: We construct examples of flabby strict deformation quantizations not preserving K-groups. This answers a question of Rieffel negatively.
Strong Morita equivalence of higher-dimensional noncommutative tori
Hanfeng Li
Mathematics , 2003,
Abstract: We show that matrices in the same orbit of the SO(n, n|Z) action on the space of n\times n skew-symmetric matrices give strong Morita equivalent noncommutative tori, both at the C*-algebra level and at the smooth algebra level. This proves a conjecture of Rieffel and Schwarz.
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