We re-visit the model-free methodology of the new VIX, and review how its counterparts are estimated empirically across the world. Then, we modify its parameter selection procedure for it to be compatible with the microstructure characteristics of emerging derivatives markets. Applying this approach on Turkish market data, we introduce VBI; the implied volatility index of Borsa Istanbul. Accordingly, (i) VBI is a strong predictor of the future realized volatility, (ii) it is significantly correlated with Turkey's own financial indicators, but not with many global financial indicators, (iii) there is an implied volatility spillover from US equity market to Borsa Istanbul, but not the other way around.
Monitoring the fatigue loads acting on the crucial structural components of a turbine plays a vital role in lifetime assessment, operational maintenance, load and power optimization of the wind farm. Generic physical models used in recent times are not highly reliable and does ascertain true decision-making situations. To determine the realistic fatigue loads acting on the turbine components requires expensive instrumentation with strain gauges. This work describes using an artificial intelligent model on real measurement data to make cost-effective estimation of fatigue loads acting on the wind turbines. The model is validated with real measurement data gathered from two onshore and one offshore commercial wind turbines.
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