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.

Growth in an oil abundant economy: The case of Venezuela

This paper has been presented at DEGIT-X held in México 2005.-- Revised: 2008-08.

Can the change in the composition of the US GDP explain the Great Moderation? A test via oil price shocks

The paper investigates whether the growing GDP share of the services sector can contribute to explain the great moderation in the US. We identify and analyze three oil price shocks and use a SVAR analysis to measure their economic impact on the US economy at both the aggregate and the sectoral level. We find mixed support for the explanation of the great moderation in terms of shrinking oil shock volatilities and observe that increases (decreases) in oil shock volatilities are contrasted by a weakening (strengthening) in their transmission mechanism. Across sectors, services are the least affected by any oil shock. As the contribution of services to the GDP volatility increases over time, we conclude that a composition effect contributed to moderate the conditional volatility to oil shocks of the US GDP.

Nanostructured giant magneto-impedance multilayers deposited onto flexible substrates for low pressure sensing

Nanostructured FeNi-based multilayers are very suitable for use as magnetic sensors using the giant magneto-impedance effect. New fields of application can be opened with these materials deposited onto flexible substrates. In this work, we compare the performance of samples prepared onto a rigid glass substrate and onto a cyclo olefin copolymer flexible one. Although a significant reduction of the field sensitivity is found due to the increased effect of the stresses generated during preparation, the results are still satisfactory for use as magnetic field sensors in special applications. Moreover, we take advantage of the flexible nature of the substrate to evaluate the pressure dependence of the giant magneto-impedance effect. Sensitivities up to 1 Omega/Pa are found for pressures in the range of 0 to 1 Pa, demostrating the suitability of these nanostructured materials deposited onto flexible substrates to build sensitive pressure sensors.

Contributions to the analysis and segmentation of remote sensing hyperspectral images

142 p.

Carbon leakage and the future of Old Industrial Regions

4 p.

Carbon leakage and the future of Old Industrial Regions after Copenhagen

35 p.

Valoración de bio-oil completo por craqueo catalítico en condiciones de la unidad FCC de refinería

351 p.

Valorization of scrap tires pyrolysis oil (STPO) through a 2-stage hydrotreating-hydrocracking strategy. Process variables and kinetic modeling

232 p.

Modular integration and on-chip sensing approaches for tunable fluid control polymer microdevices

228 p.

Sensing parasites: proteomic and advanced bio-detection alternatives

[EN] Parasitic diseases have a great impact in human and animal health. The gold standard for the diagnosis of the majority of parasitic infections is still conventional microscopy, which presents important limitations in terms of sensitivity and specificity and commonly requires highly trained technicians. More accurate molecular-based diagnostic tools are needed for the implementation of early detection, effective treatments and massive screenings with high-throughput capacities. In this respect, sensitive and affordable devices could greatly impact on sustainable control programmes which exist against parasitic diseases, especially in low income settings. Proteomics and nanotechnology approaches are valuable tools for sensing pathogens and host alteration signatures within microfluidic detection platforms. These new devices might provide novel solutions to fight parasitic diseases. Newly described specific parasite derived products with immune-modulatory properties have been postulated as the best candidates for the early and accurate detection of parasitic infections as well as for the blockage of parasite development. This review provides the most recent methodological and technological advances with great potential for biosensing parasites in their hosts, showing the newest opportunities offered by modern “-omics” and platforms for parasite detection and control.