Does the Term Spread play a role in the FED's reaction function? An Empirical Investigation

Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of a Fed’s reaction function (FRF) that (i) allows for the presence of switching regimes, (ii) considers the long-short term spread in addition to the typical variables, (iii) uses an alternative monthly indicator of general economic activity suggested by Stock and Watson (1999), and (iv) considers interest rate smoothing. The estimation results show the existence of three switching regimes, two characterized by low volatility and the remaining regime by high volatility. Moreover, the scale of the responses of the Federal funds rate to movements in the rate of inflation and the economic activity index depends on the regime. The estimation results also show robust empirical evidence that the importance of the term spread in the FRF has increased over the sample period and the FRF has been more stable during the term of office of Chairman Greenspan than in the pre-Greenspan period.

Regulation of Energy Metabolism by the Extracytoplasmic Function (ECF) σ Factors of Arcobacter butzleri

11 p.

Income Taxation and Growth in an OLG Economy: Does Aggregate Uncertainty Play any Role?

We analyze the effects of capital income taxation on long-run growth in a stochastic, two-period overlapping generations economy. Endogenous growth is driven by a positive externality of physical capital in the production sector that makes firms exhibit an aggregate technology in equilibrium. We distinguish between capital income and labor income, and between attitudes towards risk and intertemporal substitution of consumption. We show necessary and sufficient conditions such that i) increments in the capital income taxation lead to higher equilibrium growth rates, and ii) the effect of changes in the capital income tax rate on the equilibrium growth may be of opposite signs in stochastic and in deterministic economies. Such a sign reversal is shown to be more likely depending on i) how the intertemporal elasticity of substitution compares to one, and ii) the size of second- period labor supply. Numerical simulations show that for reasonable values of the intertemporal elasticity of substitution, a sign reversal shows up only for implausibly high values of the second- period’s labor supply. The conclusion is that deterministic OLG economies are a good approximation of the effect of taxes on the equilibrium growth rate as in Smith (1996).

CONTRIBUTION TO THE DEVELOPMENT OF INTELLIGENT CONVERSATIONAL ASSISTANTS IN AUTOMOTIVE ENVIRONMENTS

Esta tesis presenta el diseño y desarrollo del Asistente Conversacional del Automóvil, Voice User Help en inglés, un sistema conversacional basado en el paradigma pregunta-respuesta y diseñado para consultar documentación del vehículo duartne la conducción. Este trabajo recoge investigaciones realizadas en los campos de la documentación técnica, recuperación de información, procesamineto de lenguaje natural, diseñode interfaces de usuario para vehículos, experiencia del usuario y computación afectiva con el fin de crear un asistente adaptativo y dinámico que modifica su comportamiento conversacional dependiendo del estado emocional del usuario.

Mugilid Fish Are Sentinels of Exposure to Endocrine Disrupting Compounds in Coastal and Estuarine Environments

Effects on fish reproduction can result from a variety of toxicity mechanisms first operating at the molecular level. Notably, the presence in the environment of some compounds termed endocrine disrupting chemicals (EDCs) can cause adverse effects on reproduction by interfering with the endocrine system. In some cases, exposure to EDCs leads to the animal feminization and male fish may develop oocytes in testis (intersex condition). Mugilid fish are well suited sentinel organisms to study the effects of reproductive EDCs in the monitoring of estuarine/marine environments. Up-regulation of aromatases and vitellogenins in males and juveniles and the presence of intersex individuals have been described in a wide array of mullet species worldwide. There is a need to develop new molecular markers to identify early feminization responses and intersex condition in fish populations, studying mechanisms that regulate gonad differentiation under exposure to xenoestrogens. Interestingly, an electrophoresis of gonad RNA, shows a strong expression of 5S rRNA in oocytes, indicating the potential of 5S rRNA and its regulating proteins to become useful molecular makers of oocyte presence in testis. Therefore, the use of these oocyte markers to sex and identify intersex mullets could constitute powerful molecular biomarkers to assess xenoestrogenicity in field conditions.

Efficient electronic implementations of adaptive systems for ambient intelligence environments

183 p.

RESTful Discovery and Eventing for Service Provisioning in Assisted Living Environments

Service provisioning in assisted living environments faces distinct challenges due to the heterogeneity of networks, access technology, and sensing/actuation devices in such an environment. Existing solutions, such as SOAP-based web services, can interconnect heterogeneous devices and services, and can be published, discovered and invoked dynamically. However, it is considered heavier than what is required in the smart environment-like context and hence suffers from performance degradation. Alternatively, REpresentational State Transfer (REST) has gained much attention from the community and is considered as a lighter and cleaner technology compared to the SOAP-based web services. Since it is simple to publish and use a RESTful web service, more and more service providers are moving toward REST-based solutions, which promote a resource-centric conceptualization as opposed to a service-centric conceptualization. Despite such benefits of REST, the dynamic discovery and eventing of RESTful services are yet considered a major hurdle to utilization of the full potential of REST-based approaches. In this paper, we address this issue, by providing a RESTful discovery and eventing specification and demonstrate it in an assisted living healthcare scenario. We envisage that through this approach, the service provisioning in ambient assisted living or other smart environment settings will be more efficient, timely, and less resource-intensive.

Integrated assessment of environmental pollution using diverse sentinel organisms within Basque marine environments

294 p.

The use of role-play games in teaching: The International Climate Negotiation Game

This paper presents a role-play game designed by the authors, which focuses on international climate negotiations. The game has been used at a university with students all drawn from the same course and at summer schools with students from different levels (undergraduate, master’s and doctoral students and post-doctoral researchers) and different knowledge areas (economics, law, engineering, architecture, biology and others). We discuss how the game fits into the process of competence-based learning, and what benefits games, and role-play games in particular, have for teaching. In the game, students take on the role of representatives of national institutions and experience at first hand a detailed process of international negotiation concerned with climate change.

ADAPTECC: A Role-Play Game about Adapting to Climate Change

The ADAPTECC Climate Change Adaptation Game is a role-play game designed to enable players to experience the difficulties that arise at local and regional levels when authorities have to implement adaptation measures. Adaptation means anticipating the advert effects of climate change (CC) and taking measures to prevent and minimise the damage caused by its impacts. Each player takes the role of the mayor or a councillor of a town affected by CC who must decide what adaptation strategies and measures to take, or of a member of the Regional Environment Department which must distribute funding for adaptation among the various towns. At the end of the game, players should have a greater understanding of the challenges posed by adaptation to CC