Going Multinational under Exchange Rate Uncertainty

Published as an article in: Journal of International Money and Finance, 2010, vol. 29, issue 6, pages 1171-1191.

Expected Fair Allocation in Farsighted Network Formation

I consider cooperation situations where players have network relations. Networks evolve according to a stationary transition probability matrix and at each moment in time players receive payoffs from a stationary allocation rule. Players discount the future by a common factor. The pair formed by an allocation rule and a transition probability matrix is called expected fair if for every link in the network both participants gain, marginally, and in discounted, expected terms, the same from it; and it is called a pairwise network formation procedure if the probability that a link is created (or eliminated) is positive if the discounted, expected gains to its two participants are positive too. The main result is the existence, for the discount factor small enough, of an expected fair and pairwise network formation procedure where the allocation rule is component balanced, meaning it distributes the total value of any maximal connected subnetwork among its participants. This existence result holds for all discount factors when the pairwise network formation procedure is restricted. I finally provide some comparison with previous models of farsighted network formation.

Role of G protein coupled inwardly rectifier K+ channels (GIRK) on the neurobiology depression

353 págs.

Características antropométricas, condición física y velocidad de lanzamiento en balonmano de élite y amateur

166 p.

Efficient learning of decomposable models with a bounded clique size

The learning of probability distributions from data is a ubiquitous problem in the fields of Statistics and Artificial Intelligence. During the last decades several learning algorithms have been proposed to learn probability distributions based on decomposable models due to their advantageous theoretical properties. Some of these algorithms can be used to search for a maximum likelihood decomposable model with a given maximum clique size, k, which controls the complexity of the model. Unfortunately, the problem of learning a maximum likelihood decomposable model given a maximum clique size is NP-hard for k > 2. In this work, we propose a family of algorithms which approximates this problem with a computational complexity of O(k · n^2 log n) in the worst case, where n is the number of implied random variables. The structures of the decomposable models that solve the maximum likelihood problem are called maximal k-order decomposable graphs. Our proposals, called fractal trees, construct a sequence of maximal i-order decomposable graphs, for i = 2, ..., k, in k − 1 steps. At each step, the algorithms follow a divide-and-conquer strategy based on the particular features of this type of structures. Additionally, we propose a prune-and-graft procedure which transforms a maximal k-order decomposable graph into another one, increasing its likelihood. We have implemented two particular fractal tree algorithms called parallel fractal tree and sequential fractal tree. These algorithms can be considered a natural extension of Chow and Liu’s algorithm, from k = 2 to arbitrary values of k. Both algorithms have been compared against other efficient approaches in artificial and real domains, and they have shown a competitive behavior to deal with the maximum likelihood problem. Due to their low computational complexity they are especially recommended to deal with high dimensional domains.

Unilateral vs. Bilateral link-formation: Bridging the gap

We provide a model that bridges the gap between two benchmark models of strategic network formation: Jackson and Wolinsky' s model based on bilateral formation of links, and Bala and Goyal's two-way fl ow model, where links can be unilaterally formed. In the model introduced and studied here a link can be created unilaterally. When it is only supported by one of the two players the fl ow through the link suffers a certain decay, but when it is supported by both the fl ow runs without friction. When the decay in links supported by only one player is maximal (i.e. there is no flow) we have Jackson and Wolinsky 's connections model without decay, while when flow in such links is perfect we have Bala and Goyal' s two-way flow model. We study Nash, strict Nash and pairwise stability for the intermediate models. Efficiency and dynamics are also examined.

From bilateral two-way to unilateral one-way flow link-formation

Documento de trabajo

Estudio del comportamiento aerodinámico de un alerón trasero de un monoplaza tipo Formula Student

[ES]El proyecto investigador tiene el objeto el estudio del comportamiento de un perfil aerodinámico frente a un flujo turbulento, en este caso el aire. Se trata de evaluar las presiones que se ejercen sobre dicho perfil, que será un alerón de monoplaza tipo Formula Student, para comprobar si aporta alguna mejora en el comportamiento del monoplaza la introducción de este paquete aerodinámico. Con la introducción de este perfil en el monoplaza se pretende ganar un mayor agarre en el paso por curva siendo la resistencia al avance en recta la mínima posible, ya que lo que se pretende es hacer el recorrido del circuito en el menor tiempo posible. Por tanto hay dos variables a tener en cuenta a la hora de diseñar el alerón, por un lado esta mejorar el agarre de los neumáticos sobre el asfalto al tomar una curva, lo que nos permitirá tomar la curva a mayor velocidad y por tanto en menos tiempo, y por otro lado, la oposición que el alerón ejerce en el avance en recta disminuyendo su velocidad máxima. En resumen, se trata de comparar la fuerza horizontal y la fuerza vertical que el aire ejerce sobre el perfil aerodinámico a introducir en el monoplaza y evaluar si es beneficioso para este, es decir, si añadiendo dicho perfil se realiza el trazado del circuito en menor tiempo que sin él. Para ello se realizarán simulaciones con un software de modelado físico de flujos y turbulencias sobre un diseño de un alerón dado, con diferentes tipos de flujo, de forma que se asemeje de mejor forma a las condiciones de la pista y se obtendrán los resultados de las presiones que el flujo de aire ejerce sobre las superficies del perfil. Después se obtendrán las fuerzas puntuales vertical y horizontal y se analizaran los datos obtenidos. Deberán tenerse en cuenta, además de los resultados obtenidos, los materiales a emplear a la hora de su fabricación, el proceso de dicha fabricación y el coste que supone tanto el proceso como los materiales empleados.

A Unifying model of strategic network formation

Documento de trabajo

The promoter of cell growth- and RNA protection-associated SND1 gene is activated by endoplasmic reticulum stress in human hepatoma cells

Background: Staphyloccocal nuclease domain-containing protein 1 (SND1) is involved in the regulation of gene expression and RNA protection. While numerous studies have established that SND1 protein expression is modulated by cellular stresses associated with tumor growth, hypoxia, inflammation, heat- shock and oxidative conditions, little is known about the factors responsible for SND1 expression. Here, we have approached this question by analyzing the transcriptional response of human SND1 gene to pharmacological endoplasmic reticulum (ER) stress in liver cancer cells. Results: We provide first evidence that SND1 promoter activity is increased in human liver cancer cells upon exposure to thapsigargin or tunicamycin or by ectopic expression of ATF6, a crucial transcription factor in the unfolded protein response triggered by ER stress. Deletion analysis of the 5'-flanking region of SND1 promoter identified maximal activation in fragment (-934, +221), which contains most of the predicted ER stress response elements in proximal promoter. Quantitative real- time PCR revealed a near 3 fold increase in SND1 mRNA expression by either of the stress- inducers; whereas SND1 protein was maximally upregulated (3.4-fold) in cells exposed to tunicamycin, a protein glycosylation inhibitor. Conclusion: Promoter activity of the cell growth- and RNA-protection associated SND1 gene is up-regulated by ER stress in human hepatoma cells.

The E2F2 Transcription Factor Sustains Hepatic Glycerophospholipid Homeostasis in Mice

Increasing evidence links metabolic signals to cell proliferation, but the molecular wiring that connects the two core machineries remains largely unknown. E2Fs are master regulators of cellular proliferation. We have recently shown that E2F2 activity facilitates the completion of liver regeneration after partial hepatectomy (PH) by regulating the expression of genes required for S-phase entry. Our study also revealed that E2F2 determines the duration of hepatectomy-induced hepatic steatosis. A transcriptomic analysis of normal adult liver identified "lipid metabolism regulation" as a major E2F2 functional target, suggesting that E2F2 has a role in lipid homeostasis. Here we use wild-type (E2F2(+/+)) and E2F2 deficient (E2F2(-/-)) mice to investigate the in vivo role of E2F2 in the composition of liver lipids and fatty acids in two metabolically different contexts: quiescence and 48-h post-PH, when cellular proliferation and anabolic demands are maximal. We show that liver regeneration is accompanied by large triglyceride and protein increases without changes in total phospholipids both in E2F2(+/+) and E2F2(-/-) mice. Remarkably, we found that the phenotype of quiescent liver tissue from E2F2(-/-) mice resembles the phenotype of proliferating E2F2(+/+) liver tissue, characterized by a decreased phosphatidylcholine to phosphatidylethanolamine ratio and a reprogramming of genes involved in generation of choline and ethanolamine derivatives. The diversity of fatty acids in total lipid, triglycerides and phospholipids was essentially preserved on E2F2 loss both in proliferating and non-proliferating liver tissue, although notable exceptions in inflammation-related fatty acids of defined phospholipid classes were detected. Overall, our results indicate that E2F2 activity sustains the hepatic homeostasis of major membrane glycerolipid components while it is dispensable for storage glycerolipid balance.

Cerebral hemodynamics during graded Valsalva maneuvers

The Valsalva maneuver (VM) produces large and abrupt changes in mean arterial pressure (MAP) that challenge cerebral blood flow and oxygenation. We examined the effect of VM intensity on middle cerebral artery blood velocity (MCAv) and cortical oxygenation responses during (phases I-III) and following (phase IV) a VM. Healthy participants (n = 20 mean +/- SD: 27 +/- 7 years) completed 30 and 90% of their maximal VM mouth pressure for 10 s (order randomized) whilst standing. Beat-to-beat MCAv, cerebral oxygenation (NIRS) and MAP across the different phases of the VM are reported as the difference from standing baseline. There were significant interaction (phase * intensity) effects for MCAv, total oxygenation index (TOI) and MAP (all P < 0.01). MCAv decreased during phases II and III (P < 0.01), with the greatest decrease during phase III (-5 +/- 8 and -19 +/- 15 cm.s(-1) for 30 and 90% VM, respectively). This pattern was also evident in TOI (phase III: -1 +/- 1 and -5 +/- 4%, both P < 0.05). Phase IV increased MCAv (22 +/- 15 and 34 +/- 23 cm.s(-1)), MAP (15 +/- 14 and 24 +/- 17 mm Hg) and TOI (5 +/- 6 and 7 +/- 5%) relative to baseline (all P < 0.05). Cerebral autoregulation, indexed, as the % MCAv/%MAP ratio, showed a phase effect only (P < 0.001), with the least regulation during phase IV (2.4 +/- 3.0 and 3.2 +/- 2.9). These data illustrate that an intense VM profoundly affects cerebral hemodynamics, with a reactive hyperemia occurring during phase IV following modest ischemia during phases II and III.

El cerebro como regulador del rendimiento en la capacidad de repetir sprints

[ES] Durante pruebas cíclicas de larga duración ha sido probada que las estrategias para gestionar la fatiga pueden ser un factor determinante. A pesar de ello, este mismo fenómeno no está del todo probado que pueda darse en esfuerzos máximos de corta duración. Es por eso, que el objetivo de este trabajo ha sido analizar si variando el grado de conocimiento de los atletas durante este tipo de pruebas puede darse alguna alteración en su rendimiento. METODO: Siete deportistas varones completaron durante tres diferentes días un mismo protocolo (8 repeticiones máximas de 30 metros con un minuto de recuperación) en el que se varió la información que se les deba. Así, el primer día se les señaló que realizarían 4 repeticiones, pero cuando finalizaron se les indicó que realizarían 4 más (Prueba decepción). El segundo día, no se les informó del número de repeticiones a realizar (Prueba Suspense) y se les mandó parar al realizar la octava. Y por último, el tercer día se les señaló que realizarían 8 repeticiones (Prueba Control). RESULTADOS: Diferencias significativas (p>0.05) se encontraron en los tiempos de las cuatro primeras repeticiones entre la Prueba Suspense y Prueba Decepción. CONCLUSIÓN: Los resultados muestran como en pruebas máximas de corta duración las estrategias de gestión de la fatiga se pueden dar de manera anticipatoria al número de repeticiones a realizar.

Subtypes of Patients Experiencing Exacerbations of COPD and Associations with Outcomes

Chronic obstructive pulmonary disease (COPD) is a complex and heterogeneous condition characterized by occasional exacerbations. Identifying clinical subtypes among patients experiencing COPD exacerbations (ECOPD) could help better understand the pathophysiologic mechanisms involved in exacerbations, establish different strategies of treatment, and improve the process of care and patient prognosis. The objective of this study was to identify subtypes of ECOPD patients attending emergency departments using clinical variables and to validate the results using several outcomes. We evaluated data collected as part of the IRYSS-COPD prospective cohort study conducted in 16 hospitals in Spain. Variables collected from ECOPD patients attending one of the emergency departments included arterial blood gases, presence of comorbidities, previous COPD treatment, baseline severity of COPD, and previous hospitalizations for ECOPD. Patient subtypes were identified by combining results from multiple correspondence analysis and cluster analysis. Results were validated using key outcomes of ECOPD evolution. Four ECOPD subtypes were identified based on the severity of the current exacerbation and general health status (largely a function of comorbidities): subtype A (n = 934), neither high comorbidity nor severe exacerbation; subtype B (n = 682), moderate comorbidities; subtype C (n = 562), severe comorbidities related to mortality; and subtype D (n = 309), very severe process of exacerbation, significantly related to mortality and admission to an intensive care unit. Subtype D experienced the highest rate of mortality, admission to an intensive care unit and need for noninvasive mechanical ventilation, followed by subtype C. Subtypes A and B were primarily related to other serious complications. Hospitalization rate was more than 50% for all the subtypes, although significantly higher for subtypes C and D than for subtypes A and B. These results could help identify characteristics to categorize ECOPD patients for more appropriate care, and help test interventions and treatments in subgroups with poor evolution and outcomes.

Effects of Small-Sided Games vs. Interval Training in Aerobic Fitness and Physical Enjoyment in Young Elite Soccer Players

The purpose of this study was to compare the effects of Small-Sided Games (SSG) vs. Interval Training (IT) in soccer training on aerobic fitness and physical enjoyment in youth elite soccer players during the last 8 weeks of the season. Seventeen U-16 male soccer players (age = 15.5 +/- 0.6 years, and 8.5 years of experience) of a Spanish First Division club academy were randomized to 2 different groups for 6 weeks: SSG group (n = 9) and IT group (n = 8). In addition to the usual technical and tactical sessions and competitive games, the SSG group performed 11 sessions with different SSGs, whereas the IT group performed the same number of sessions of IT. Players were tested before and after the 6-week training intervention with a continuous maximal multistage running field test and the counter movement jump test (CMJ). At the end of the study, players answered the physical activity enjoyment scale (PACES). During the study, heart rate (HR) and session perceived effort (sRPE) were assessed. SSGs were as effective as IT in maintaining the aerobic fitness in elite young soccer players during the last weeks of the season. Players in the SSG group declared a greater physical enjoyment than IT (P = 0.006; ES = 1.86 +/- 1.07). Coaches could use SSG training during the last weeks of the season as an option without fear of losing aerobic fitness while promoting high physical enjoyment.