Trend analysis in two standard growth models

This paper analyzes the trend processes characterized by two standard growth models using simple econometrics. The first model is the basic neoclassical growth model that postulates a deterministic trend for output. The second model is the Uzawa-Lucas model that postulates a stochastic trend for output. The aim is to understand how the different trend processes for output assumed by these two standard growth models determine the ability of each model to explain the observed trend processes of other macroeconomic variables such as consumption and investment. The results show that the two models reproduce the output trend process. Moreover, the results show that the basic growth model captures properly the consumption trend process, but fails in characterizing the investment trend process. The reverse is true for the Uzawa-Lucas model.

El modelo de Markowitz en la gestión de carteras

[ES] Desde su aparición, el modelo de Markowitz ha sido un referente teórico fundamental en la selección de carteras de valores, dando lugar a múltiples desarrollos y derivaciones. Sin embargo, su utilización en la práctica entre gestores de carteras y analistas de inversiones no ha sido tan amplia como podría esperarse de su éxito teórico. Con este trabajo pretendemos demostrar que el modelo de Markowitz puede ser de gran utilidad en la práctica. A través de un estudio empírico queremos verificar si el modelo de Markowitz es capaz de proporcionar carteras que nos ofrezcan una mayor rentabilidad y un menor riesgo que la cartera representada por los índices IBEX-35 e IGBM. Así mismo, pretendemos comprobar la supuesta eficiencia de estos índices como representantes de la cartera de mercado teórica.

The Determinants of Energy Efficiency Investments in the U.S.

31 p.

Guided Bus Rapid Transit

Electrical Bus Rapid Transit (eBRT) is a charging electrical public transport which brings a clean, high performance, and affordable cost alternative from the conventional traffic vehicles which work with combustion and hybrid technology. These buses charge the battery in every bus stop to arrive at the next station. But, this charging system needs an appropriate infrastructure called pantograph, and it requires a high precision bus location to maintain battery lifetime, energy saving and charging time. To overcome this issue Vicomtech and Datik has planned a project based on computer vision to help to the driver to locate the vehicle in the correct place. In this document, we present a mono camera bus driver guided fast algorithm because these vehicles embedded computers do not support high computation and precision operations. In addition to the frequent lane sign, there are more accurate geometric beacons painted on the road to bring metric information to the vision system. This method uses segmentation to binarize the image discriminating the background space. Besides it detects, tracks and counts different lane mark contours in addition to classify each special painted mark. Besides it does not need any calibration task to calculate longitudinal and cross distances because we know the lane mark sizes.