A Note on Wavelet Correlation and Cointegration

In a recent paper Leong-Huang:2010 {Journal of Applied Statistics 37, 215–233} proposed a wavelet-correlation-based approach to test for cointegration between two time series. However, correlation and cointegration are two different concepts even when wavelet analysis is used. It is known that statistics based on nonstationary integrated variables have non-standard asymptotic distributions. However, wavelet analysis offsets the integrating order of nonstationary series so that traditional asymptotics on stationary variables suffices to ascertain the statistical properties of wavelet-based statistics. Based on this, this note shows that wavelet correlations cannot be used as a test of cointegration.

Employment comovements at the sectoral level over the business cycle

This paper extends the technique suggested by den Haan (2000) to investigate contemporaneous as well as lead and lag correlations among economic data for a range of forecast horizons. The technique provides a richer picture of the economic dynamics generating the data and allows one to investigate which variables lead or lag others and whether the lead or lag pattern is short term or long term in nature. The technique is applied to monthly sectoral level employment data for the U.S. and shows that among the ten industrial sectors followed by the U.S. Bureau of Labor Statistics, six tend to lead the other four. These six have high correlations indicating that the structural shocks generating the data movements are mostly in common. Among the four lagging industries, some lag by longer intervals than others and some have low correlations with the leading industries indicating that these industries are partially influenced by structural shocks beyond those generating the six leading industries.

Evaluation of the conventional surveying equipment applied to deformation analysis of heritage buildings. A case study: the bell tower of Santa María la Blanca church in Agoncillo (La Rioja, Spain)

Contributed to: "Measuring the Changes": 13th FIG International Symposium on Deformation Measurements and Analysis; 4th IAG Symposium on Geodesy for Geotechnical and Structural Enginering (Lisbon, Portugal, May 12-15, 2008).

Multiple table factor analysis applied to the higher education competences

Due to the recent implantation of the Bologna process, the definition of competences in Higher Education is an important matter that deserves special attention and requires a detailed analysis. For that reason, we study the importance given to severa! competences for the professional activity and the degree to which these competences have been achieved through the received education. The answers include also competences observed in two periods of time given by individuals of multiple characteristics. In this context and in order to obtain synthesized results, we propose the use of Multiple Table Factor Analysis. Through this analysis, individuals are described by severa! groups, showing the most important variability factors of the individuals and allowing the analysis of the common structure ofthe different data tables. The obtained results will allow us finding out the existence or absence of a common structure in the answers of the various data tables, knowing which competences have similar answer structure in the groups of variables, as well as characterizing those answers through the individuals.

Comparison of marketing policies applied by the same company in different countries and analysis of the reasons for the differences

The focus of this project is going to be, as the title indicates, on the comparison of marketing policies applied by the same company in different countries and analysis of the reasons for the differences. In order to do that, I have selected the company Nestlé to analyze the marketing decisions it makes across national boundaries to market the brand of Kit Kat and keep it as a leader snack worldwide. After having analyzed the brand in all continents, I can say the execution of the strategy used by Nestlé with Kit Kat really matches the planning of the strategy which is to think globally and act locally. Nestlé uses global brand identity but, from the internal point of view, it uses local ingredients and gives autonomy to its local branches based in different countries to make pricing and distributions decisions and therefore satisfy different consumers’ needs and preferences in local environments where changes happen very rapidly. The “glocal” approach to marketing is an effective way for Nestlé Kit Kat to stay focused on the consumer in worldwide markets.

LC-MS based methods for phytosterols determination in oenological matrices. Targeted metabolomic study of Rioja grape varieties

221 p.+ anexos

Advanced techniques for diagnostics and control applied to particle accelerators

201 p.

Efficacy of a cognitive and behavioural psychotherapy applied by primary care psychologists in patients with mixed anxiety-depressive disorder: a research protocol

Background: In contrast with the recommendations of clinical practice guidelines, the most common treatment for anxiety and depressive disorders in primary care is pharmacological. The aim of this study is to assess the efficacy of a cognitive-behavioural psychological intervention, delivered by primary care psychologists in patients with mixed anxiety-depressive disorder compared to usual care. Methods/Design: This is an open-label, multicentre, randomized, and controlled study with two parallel groups. A random sample of 246 patients will be recruited with mild-to-moderate mixed anxiety-depressive disorder, from the target population on the lists of 41 primary care doctors. Patients will be randomly assigned to the intervention group, who will receive standardised cognitive-behavioural therapy delivered by psychologists together with usual care, or to a control group, who will receive usual care alone. The cognitive-behavioural therapy intervention is composed of eight individual 60-minute face-to face sessions conducted in eight consecutive weeks. A follow-up session will be conducted over the telephone, for reinforcement or referral as appropriate, 6 months after the intervention, as required. The primary outcome variable will be the change in scores on the Short Form-36 General Health Survey. We will also measure the change in the frequency and intensity of anxiety symptoms (State-Trait Anxiety Inventory) and depression (Beck Depression Inventory) at baseline, and 3, 6 and 12 months later. Additionally, we will collect information on the use of drugs and health care services. Discussion: The aim of this study is to assess the efficacy of a primary care-based cognitive-behavioural psychological intervention in patients with mixed anxiety-depressive disorder. The international scientific evidence has demonstrated the need for psychologists in primary care. However, given the differences between health policies and health services, it is important to test the effect of these psychological interventions in our geographical setting.