Consumer Confidence and Yield Spreads in Europe

This paper shows the extraordinary capacity of yield spreads to anticipate consumption growth as proxy by the Economic Sentiment Indicator elaborated by the European Commission in order to predict turning points in business cycles. This new evidence complements the well known results regarding the usefulness of the slope of the term structure of interest rates to predict real economic conditions and, in particular, recessions by using a direct measure of expectations. A linear combination of European yield spreads explains a surprising 93.7% of the variability of the Economic Sentiment Indicator. Yield spreads seem to be a key determinant of consumer confidence in Europe.

Experiences of Public-Private Collaboration for Stimulating

For over a decade now, work has been ongoing on the professional organization and management of town centre retail spaces in Spain under what is known as the Open Shopping Centre model. Introducing this model has involved a process of public-private collaboration in several different phases, conditioned to a large extent by the specific context of each initiative. With a view to furthering the process of benchmarking developed out of the experiences of recent years, we shall use case analysis to explain trends in initiatives for retail regeneration and stimulation undertaken in the Basque Country (an autonomous community in the north of Spain) since 2000. We analyze the factors that have prompted these initiatives, assessing and comparing the landmarks and conditions that have marked, or are determining, progress in the dynamic of collaboration between municipal authorities and retailers for a competitive improvement both in the retail sector and in the environment in which it operates: the city. Finally we list witch are these key factors.

Consumer Expertise or Credit Risk? An empirical analysis of mortgage pricing

Loan mortgage interest rates are usually the result of a bank-customer negotiation process. Credit risk, consumer cross-buying potential, bundling, financial market competition and other features affecting the bargaining power of the parties could affect price. We argue that, since mortgage loan is a complex product, consumer expertise could be a relevant factor for mortgage pricing. Using data on mortgage loan prices for a sample of 1055 households for the year 2005 (Bank of Spain Survey of Household Finances, EFF-2005), and including credit risk, costs, potential capacity of the consumer to generate future business and bank competition variables, the regression results indicate that consumer expertise-related metrics are highly significant as predictors of mortgage loan prices. Other factors such as credit risk and consumer cross-buying potential do not have such a significant impact on mortgage prices. Our empirical results are affected by the credit conditions prior to the financial crisis and could shed some light on this issue.

Assisting blog publication: annotation, model transformation, and crossblogging techniques

Although blogs exist from the beginning of the Internet, their use has considerablybeen increased in the last decade. Nowadays, they are ready for being used bya broad range of people. From teenagers to multinationals, everyone can have aglobal communication space.Companies know blogs are a valuable publicity tool to share information withthe participants, and the importance of creating consumer communities aroundthem: participants come together to exchange ideas, review and recommend newproducts, and even support each other. Also, companies can use blogs for differentpurposes, such as a content management system to manage the content of websites,a bulletin board to support communication and document sharing in teams,an instrument in marketing to communicate with Internet users, or a KnowledgeManagement Tool. However, an increasing number of blog content do not findtheir source in the personal experiences of the writer. Thus, the information cancurrently be kept in the user¿s desktop documents, in the companies¿ catalogues,or in another blogs. Although the gap between blog and data source can be manuallytraversed in a manual coding, this is a cumbersome task that defeats the blog¿seasiness principle. Moreover, depending on the quantity of information and itscharacterisation (i.e., structured content, unstructured content, etc.), an automaticapproach can be more effective.Based on these observations, the aim of this dissertation is to assist blog publicationthrough annotation, model transformation and crossblogging techniques.These techniques have been implemented to give rise to Blogouse, Catablog, andBlogUnion. These tools strive to improve the publication process considering theaforementioned data sources.

Somatisation in primary care: experiences of primary care physicians involved in a training program and in a randomised controlled trial

Background: A new intervention aimed at managing patients with medically unexplained symptoms (MUS) based on a specific set of communication techniques was developed, and tested in a cluster randomised clinical trial. Due to the modest results obtained and in order to improve our intervention we need to know the GPs' attitudes towards patients with MUS, their experience, expectations and the utility of the communication techniques we proposed and the feasibility of implementing them. Physicians who took part in 2 different training programs and in a randomised controlled trial (RCT) for patients with MUS were questioned to ascertain the reasons for the doctors' participation in the trial and the attitudes, experiences and expectations of GPs about the intervention. Methods: A qualitative study based on four focus groups with GPs who took part in a RCT. A content analysis was carried out. Results: Following the RCT patients are perceived as true suffering persons, and the relationship with them has improved in GPs of both groups. GPs mostly valued the fact that it is highly structured, that it made possible a more comfortable relationship and that it could be applied to a broad spectrum of patients with psychosocial problems. Nevertheless, all participants consider that change in patients is necessary; GPs in the intervention group remarked that that is extremely difficult to achieve. Conclusion: GPs positively evaluate the communication techniques and the interventions that help in understanding patient suffering, and express the enormous difficulties in handling change in patients. These findings provide information on the direction in which efforts for improving intervention should be directed.