Analysis of volatility transmissions in integrated and interconnected markets: The case of the Iberian and French markets

This paper models the mean and volatility spillovers of prices within the integrated Iberian and the interconnected Spanish and French electricity markets. Using the constant (CCC) and dynamic conditional correlation (DCC) bivariate models with three different specifications of the univariate variance processes, we study the extent to which increasing interconnection and harmonization in regulation have favoured price convergence. The data consist of daily prices calculated as the arithmetic mean of the hourly prices over a span from July 1st 2007 until February 29th 2012. The DCC model in which the variances of the univariate processes are specified with a VARMA(1,1) fits the data best for the integrated MIBEL whereas a CCC model with a GARCH(1,1) specification for the univariate variance processes is selected to model the price series in Spain and France. Results show that there are significant mean and volatility spillovers in the MIBEL, indicating strong interdependence between the two markets, while there is a weaker evidence of integration between the Spanish and French markets. We provide new evidence that the EU target of achieving a single electricity market largely depends on increasing trade between countries and homogeneous rules of market functioning.

Word frequency cues word order in adults: cross-linguistic evidence

[EN] One universal feature of human languages is the division between grammatical functors and content words. From a learnability point of view, functors might provide entry points or anchors into the syntactic structure of utterances due to their high frequency. Despite its potentially universal scope, this hypothesis has not yet been tested on typologically different languages and on populations of different ages. Here we report a corpus study and an artificial grammar learning experiment testing the anchoring hypothesis in Basque, Japanese, French, and Italian adults. We show that adults are sensitive to the distribution of functors in their native language and use them when learning new linguistic material. However, compared to infants’ performance on a similar task, adults exhibit a slightly different behavior, matching the frequency distributions of their native language more closely than infants do. This finding bears on the issue of the continuity of language learning mechanism.

Darrigolen gramatikaz

Published in 2008.

A Brief Grammar of Euskara, the Basque Language

This is a short grammar of the Basque language, or Euskara as it is called by its speakers. What follows is a partial description of the syntax of Euskara. The text has been arranged in the following fashion: there is an index where you can find the distribution of topics. Within each of the topics, an effort has been made to arrange information from general to specific, so that as you read into a given section, you will get into more details about the topic being under discussion. This grammar hopes to be useful to a wide variety of users. Therefore, it will probably not satisfy anyone completely: Those who want a quick 'feel' for the language will be disappointed by the slow and messy details the text dives into. Those who want a detailed, professional description will be disappointed by the lack of depth in the discussion. The text hopes to sit somewhere in the middle, and if it tells too much to those who want to know a little, and too little to those who want to know a lot, then it will have done its job.