Optimal Minimum Wage in a Competitive Economy: an Alternative Modelling Approach

This paper analyzes whether a minimum wage can be an optimal redistribution policy when distorting taxes and lump-sum transfers are also available in a competitive economy. We build a static general equilibrium model with a Ramsey planner making decisions on taxes, transfers, and minimum wage levels. Workers are assumed to differ only in their productivity. We find that optimal redistribution may imply the use of a minimum wage. The key factor driving our results is the reaction of the demand for low skilled labor to the minimum wage law. Hence, an optimal minimum wage appears to be most likely when low skilled households are scarce, the complementarity between the two types of workers is large or the difference in productivity is small. The main contribution of the paper is a modelling approach that allows us to adopt analysis and solution techniques widely used in recent public finance research. Moreover, this modelling strategy is flexible enough to allow for potential extensions to include dynamics into the model.

‘Neptune’ between ‘Hesperus’ and ‘Vulcan’: On descriptive names and non-existence

[EN]This work will focus on some aspects of descriptive names. The New Theory of Reference, in line with Kripke, takes descriptive names to be proper names. I will argue in this paper that descriptive names and certain theory in reference to them, even when it disagrees with the New Theory of Reference, can shed light on our understanding of (some) non-existence statements. I define the concept of descriptive name for hypothesised object (DNHO). My thesis being that DNHOs are, as I will specify, descriptions: a proposition expressed by the utterance ‘n is F’, where ‘n’ is a DNHO, is not singular at all; it is a descriptive proposition. To sum up, concerning proper names, the truth lies closer to the New Theory of Reference, but descriptivism is not altogether false. As for DNHOs descriptivism is, in some cases, the right fit.

Association analyses of DNA polymorphisms in bovine SREBP-1, LXRα,FADS1 genes with fatty acid composition in Canadian commercial crossbred beef steers

Two previously reported DNA polymorphisms of sterol regulatory element binding transcription factor 1 (SREBP1) and liver X receptor alpha (LXRα) and two DNA polymorphisms of fatty acid desaturase 1 (FADS1) were evaluated for associations with fatty acids in brisket adipose tissue of Canadian cross-bred beef steers. The polymorphism of 84 bp insert/deletion in intron 5 of SREBP1 was significantly associated with the concentration of 9c C17:1 (P=0.013). The G>A single nucleotide polymorphism (SNP) in the exon 4 of LXRα gene was associated with the concentration of 9c, 11t C18:2 (P=0.04), sum of conjugated linoleic acids (CLA) (P=0.025) and 11c C20:1(P=0.042). Two DNA polymorphisms in the promoter region of FADS1, deletion/insertion of ->GTG in rs133053720 and SNP A>G in rs42187276, were significantly associated with concentrations of C17:0 iso, C17:0 ai, total branched chain fatty acids (BFA), 12t C18:1, 13t/14t C18:1, 15t C18:1, and 13c C18:1 (P<0.05). Further studies are needed to validate the associations and to delineate the roles of the gene polymorphisms in determining the fatty acid composition in beef tissues.

"Con casa, familia y domicilio". Mercaderes extranjeros en Guipúzcoa durante la Edad Moderna

[ES] El presente trabajo analiza la presencia de mercaderes extranjeros en Guipúzcoa durante los siglos XVI al XVIII. Comerciantes, procedentes de países como Portugal, Francia, Inglaterra, Flandes, Alemania, etc., que durante la Edad Moderna recalaron y se establecieron en los puertos guipuzcoanos, con la mirada puesta en el acceso a los mercados españoles y coloniales. Trata, por tanto, de analizar el método utilizado para asentarse y establecerse en los principales puertos guipuz- coanos, sobre todo en San Sebastián, y las dificultades experimentadas. En definitiva, se intenta profundizar en las estrategias utilizadas por cada uno de ellos para lograr la integración social y el disfrute de los privilegios a los que tienen acceso los naturales.

Is General Relativity a simplified theory?

IARD 8th Biennial Conference on Classical and Quantum Relativistic Dynamics of Particles and Fields - Galileo Galilei Inst Theoret Phys (GGI), Florence, ITALY - MAY 29-JUN 01, 2012. Edited by:Horowitz, LP

Estudio del marco normativo para las bibliotecas escolares: análisis de los proyectos de lectura de bibliotecas escolares de Andalucía, Catalunya y País Vasco

Español-> En esta investigación bibliográfica hemos analizado el trabajo de las tres Comunidades Autónomas en el tema de las bibliotecas escolares y hemos conocido el programa principal para su fomento utilizado en cada una de ellas. Para ello, hemos partido de lo que la IFLA/UNESCO y el Estado Español en su legislación y diferentes normativas establecen acerca de las bibliotecas escolares. Además, se ha realizado una comparación entre los tres programas de bibliotecas escolares de las Comunidades Autónomas seleccionadas: Andalucía, Catalunya y País Vasco. Finalmente, hemos conocido mediante los trabajos de diversos autores, los objetivos que para el futuro deben cumplir las bibliotecas escolares.

Valuation of wind energy projects: A real options approach

27 p.

La envolvente de los edificios como generador de calor y energía eléctrica

[ES]El presente documento analiza las principales funciones que se le exigen actualmente a un sistema constructivo; concretamente, a la envolvente de los edificios. Se plantean inicialmente las causas y necesidades que han derivado en el nuevo concepto de envolvente así como las nuevas funciones que se le son exigibles. Se describen los conceptos relativos a los diferentes sistemas constructivos, a los métodos de ventilación natural y, a continuación, se analizan los criterios de generación fotovoltaica y solar térmica en los edificios, además de la integración de estos sistemas en los edificios. También se analizan los fundamentos sobre materiales de cambio de fase. Todo ello permite presentar los criterios de construcción de edificios ecoeficientes. Asimismo se presentan una serie de soluciones arquitectónicas desde el punto de vista de la eficiencia energética.

Recursos de combustible en central nuclear de fusión en el País Vasco

[ES]Este trabajo surge de la inquietud del alumno sobre la energía nuclear y mas concretamente sobre la energía de fusión. Esta inquietud se plasma en una recopilación de información sobre los combustibles necesarios , su abundancia y su forma de obtención actual. Analizaremos la posibilidad de implantar alguna de estas plantas de combustible en el País Vasco, junto con un estudio de una posible central nuclear de fusión con la suma de la potencia de cada uno de los reactores de fisión que se encuentran actualmente en funcionamiento en el estado Español. Compararemos las cantidades de combustible necesarias en un año de uranio y el combustible de fusión, así como el coste de construcción de cada una.

Diseño de un reflectoarray en banda L

[ES]En este documento se tratará de recopilar toda la información y documentación que ha sido necesaria para la correcta elaboración del proyecto que estamos llevando a cabo. El objetivo final del mismo consiste en el diseño y análisis de un reflectoarray que trabaje en banda L, pero cuyo diseño sea adaptable a otras bandas de funcionamiento existentes. Estará destinado a la transmisión de una señal de modo que resulte un sistema que optimice tanto rendimiento como coste. Para ello, en este documento se recogen aspectos como: análisis teórico de funcionamiento, resultados de simulaciones, planificación de tareas, etcétera, es decir, todo lo necesario para finalizar con éxito el proyecto, logrando los objetivos previamente establecidos.

Does rating shopping exist in spanish securitization issues?

[EN] Debt issue credit ratings can lead to conflicts of interest as the issuer itself is entrusted with contracting and compensating the rating agency. Into the bargain, the credit rating agency may be involved in designing the issues that the same agency subsequently rates. Credit rating agencies thus could have incentives to rate issues advantageously. Given the economic importance of this issue, in this paper we have proposed to analyze this phenomenon, known as rating shopping in academic literature, for Spanish market securitization issues for the period of time comprehensive from January 1993 to December 2011. In sum 3,665 published ratings are been analysed, for an issued nominal amount of 791,090 million Euros. The results show an association between the credit rating agency contracted and the mean rating awarded. Significant differences are observed in the ratings associated to the contracting manager (or special purpose vehicle SPV- manager firm), to the number of ratings or to the type of collateral. Furthermore, a pattern compatible with rating shopping was observed for some types of collateral: abnormally high market shares associated with certain agencies awarding unusually generous ratings. However, this phenomenon is not seen to be widespread on the rating market associated to Spanish securitization issues.

Entanglement negativity in the harmonic chain out of equilibrium

We study the entanglement in a chain of harmonic oscillators driven out of equilibrium by preparing the two sides of the system at different temperatures, and subsequently joining them together. The steady state is constructed explicitly and the logarithmic negativity is calculated between two adjacent segments of the chain. We find that, for low temperatures, the steady-state entanglement is a sum of contributions pertaining to left-and right-moving excitations emitted from the two reservoirs. In turn, the steady-state entanglement is a simple average of the Gibbs-state values and thus its scaling can be obtained from conformal field theory. A similar averaging behaviour is observed during the entire time evolution. As a particular case, we also discuss a local quench where both sides of the chain are initialized in their respective ground states.

Valuation of Wind Energy Projects: A Real Options Approach

We address the valuation of an operating wind farm and the finite-lived option to invest in it under different reward/support schemes: a constant feed-in tariff, a premium on top of the electricity market price (either a fixed premium or a variable subsidy such as a renewable obligation certificate or ROC), and a transitory subsidy, among others. Futures contracts on electricity with ever longer maturities enable market-based valuations to be undertaken. The model considers up to three sources of uncertainty: the electricity price, the level of wind generation, and the certificate (ROC) price where appropriate. When analytical solutions are lacking, we resort to a trinomial lattice combined with Monte Carlo simulation; we also use a two-dimensional binomial lattice when uncertainty in the ROC price is considered. Our data set refers to the UK. The numerical results show the impact of several factors involved in the decision to invest: the subsidy per MWh generated, the initial lump-sum subsidy, the maturity of the investment option, and electricity price volatility. Different combinations of variables can help bring forward investments in wind generation. One-off policies, e.g., a transitory initial subsidy, seem to have a stronger effect than a fixed premium per MWh produced.

Religion, emotions and social transformation along migratory processes. The cases of African church leaders in Spain and South Africa

221 p.