The role of the terms of trade in the trade channel of transmission of oil price shocks

This paper highlights the role of the terms of trade in the trade channel of propagation of oil price shocks both empirically and theoretically. Empirically, I show that oil price shocks have a large, persistent and statistically significant impact on the US terms of trade. Theoretically, I add oil in the model by Corsetti and Pesenti (2005) and analyse under what conditions the terms of trade plays a relevant role in the international transmission of oil price shocks. With nominal price rigidities and full exchange rate pass-through positive oil price shocks depreciate the currency of the oil importing country. The subsequent negative wealth effect adds to the recessive effect of the supply channel and may trongly reduce the consumption in the oil importing country economy. Without exchange rate pass-through oil shocks transmit to the economy only through the supply channel. The model suggests that a change in the exchange rate pass-through might contribute to explain the evidence of a weaker impact of oil price shocks on the macroeconomic activity in recent times.

Ancient DNA from Hunter-Gatherer and Farmer Groups from Northern Spain Supports a Random Dispersion Model for the Neolithic Expansion into Europe

10 p.

Dealing with Energy-QoE Trade-Offs in Mobile Video

Scalable video coding allows an efficient provision of video services at different quality levels with different energy demands. According to the specific type of service and network scenario, end users and/or operators may decide to choose among different energy versus quality combinations. In order to deal with the resulting trade-off, in this paper we analyze the number of video layers that are worth to be received taking into account the energy constraints. A single-objective optimization is proposed based on dynamically selecting the number of layers, which is able to minimize the energy consumption with the constraint of a minimal quality threshold to be reached. However, this approach cannot reflect the fact that the same increment of energy consumption may result in different increments of visual quality. Thus, a multiobjective optimization is proposed and a utility function is defined in order to weight the energy consumption and the visual quality criteria. Finally, since the optimization solving mechanism is computationally expensive to be implemented in mobile devices, a heuristic algorithm is proposed. This way, significant energy consumption reduction will be achieved while keeping reasonable quality levels.

Effects of international trade of food and feed and human diet shifts on food security and environmental safety: integrating scales

4 p.

The Sustainability of `Sustainable´ Energy Use: Historical Evidence on the Relationship between Economic Growth and Renewable Energy

20 p.

A dynamic CGE modelling approach for analyzing trade-offs in climate change policy options: the case of Green Climate Fund

38 p.

Estrategia de internacionalización en el sector vitivinícola: análisis de casos

[ES]En este Trabajo de Fin de Grado se trata el tema de la internacionalización en el sector vitivinícola, expresando brevemente la importancia del sector agroalimentario, del cual es parte el área analizada. Será analizado mediante casos prácticos, se estudiarán dos de las bodegas más importantes de España, establecidas en dos comunidades autónomas que son productoras y distribuidoras de vino históricamente; Bodegas Eguren-Ugarte, afincada en el País Vasco y una de las marcas más conocidas a nivel nacional; Bodegas Torres, afincada en la Cataluña y una de las marcas más conocidas tanto a nivel nacional como mundial. Mediante la realización de entrevistas a responsables de comercio exterior busco por una parte afianzar mis aptitudes en cuanto a la relación con grandes empresarios, intentando conocer mejor como trabajan e intentando mejorar el cara a cara con personas influyentes. Por otro lado, pretendo identificar las características diferenciales del proceso de internacionalización del sector vitivinícola, para conocer mejor el sector y la manera en la que las empresas bodegueras realizan su expansión internacional. En tercer lugar, y debido a que el sector vitivinícola crece y se moderniza a grandes velocidades, conocer las nuevas vías de comercialización de producto. Por último, y en menor grado, debido a la falta de información, trato de valorarla participación de los entes públicos (estatales, autonómicos o europeos) dentro del proceso de internacionalización y si esta participación es influyente.

Anisotropic expansion and SNIa: An open issue

We review the appropriateness of using SNIa observations to detect potential signatures of anisotropic expansion in the Universe. We focus on Union2 and SNLS3 SNIa datasets and use the hemispherical comparison method to detect possible anisotropic features. Unlike some previous works where nondiagonal elements of the covariance matrix were neglected, we use the full covariance matrix of the SNIa data, thus obtaining more realistic and not underestimated errors. As a matter of fact, the significance of previously claimed detections of a preferred direction in the Union2 dataset completely disappears once we include the effects of using the full covariance matrix. Moreover, we also find that such apreferred direction is aligned with the orthogonal direction of the SDSS observational plane and this suggests a clear indication that the SDSS subsample of the Union2 dataset introduces a significant bias, making the detected preferred direction unphysical. We thus find that current SNIa surveys are inappropriate to test anisotropic features due to their highly non-homogeneous angular distribution in the sky. In addition, after removal of the highest in homogeneous sub-samples, the number of SNIa is too low. Finally, we take advantage of the particular distribution of SNLS SNIa sub- sample in the SNLS3 data set, in which the observations were taken along four different directions. We fit each direction independently and find consistent results at the 1 sigma level. Although the likelihoods peak at relatively different values of Omega(m), the low number of data along each direction gives rise to large errors so that the likelihoods are sufficiently broad as to overlap within 1 sigma. (C) 2014 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license (http:// creativecommons. org/licenses/by/4.0/).