The president of USTB, Zhang Xinxin, also expressed his opinion on the MOU, stating: As a top research-oriented university, USTB is keen on international collaboration.
Besides the new partnership with USTB, the University of Warwick also has strong connections with Monash University in Australia and New York University, USA.
BN, ABC, and CK criteria are applied to log prices or log spread variations for the GMHF, USCS, Commodity Prices, and Currencies datasets, whereas for USTB, variation of rates is used because with two-year rates close to zero or negative, their percentage variations are extreme.
Using the Akaike Information Criterion to determine the number of lags to include in the VAR model, the USTB and USCS datasets are fitted with VAR(3), commodity prices with VAR(2), and GMHF and currencies with VAR(1).
USTB has three factors that explain 94% of the variances.
Similar to the case of USTB, the number of factors in commodity datasets is commonly studied.
Increased correlation between factors is particularly obvious for USTB.
For USTB, which is considered to be the lowest risk among those considered, the number of factors that affects its return is lower during recessions, especially for the one between late 2007 and 2010.
Established in 1999, the Institute of Gas Separation Engineering of USTB focuses on the research and development of air separation application technologies such as pressure swing adsorption and membrane separation.
By partnering with USTB, a world leading university renowned for its study of metallurgy and materials science, the collaboration will bring innovative and cost-effective solutions to the gas industry.