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.

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.

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

38 p.

THE AINU LANGUAGES: TRADITIONAL RECONSTRUCTION, EURASIAN AREAL LINGUISTICS, AND DIACHRONIC (HOLISTIC) TYPOLOGY

El objetivo principal de esta tesis doctoral es, en primer lugar, ofrecer una reconstrucción alternativa del protoainu para, en segundo lugar, aplicar conceptos de tipología diacrónicaholística con el fin de discernir algún patrón evolutivo que ayude a responder a la pregunta:¿por qué la lengua ainu es como es en su contexto geolingüístico (lengua AOV con prefijos),cuando en la región euroasiática lo normal es encontrar el perfil 'lengua AOV con sufijos'? En suma, se trata de explorar las posibilidades que ofrece la tipología diacrónica holística,combinada con métodos más tradicionales, en la investigación de las etapas prehistóricas delenguas aisladas, es decir, sin parientes conocidos, como el ainu, el vasco, el zuñi o elburushaski. Este trabajo se divide en tres grandes bloques con un total de ocho capítulos, unapéndice con las nuevas reconstrucciones protoainúes y la bibliografía.El primer bloque se abre con el capítulo 1, donde se hace una breve presentación delas lenguas ainus y su filología. El capítulo 2 está dedicado a la reconstrucción de la fonologíaprotoainu. La reconstrucción pionera pertenece a A. Vovin (1992), que de hecho sirve comobase sobre la que ampliar, corregir o modificar nuevos elementos. En el capítulo 3 se describela morfología histórica de las lenguas ainus. En el capítulo 4 se investiga esta opción dentrode un marco más amplio que tiene como objetivo analizar los patrones elementales deformación de palabras. El capítulo 5, con el que se inicia el segundo bloque, da cabida a lapresentación de una hipótesis tipológica diacrónica, a cargo de P. Donegan y D. Stampe, conla que especialistas en lenguas munda y mon-khmer han sido capaces de alcanzar unreconstrucción del protoaustroasiático según la cual el tipo aglutinante de las lenguas mundasería secundario, frente al original monosilábico de las lenguas mon-khmer. En el capítulo 6se retoma la perspectiva tradicional de la lingüística geográfica, pero no se olvidan algunas delas consideraciones tipológicas apuntadas en el capítulo anterior (el hecho de que la hipótesisde Donegan y Stampe no funcione con el ainu no significa que la tipología diacrónica nopueda ser todavía de utilidad). En el capítulo 7 se presentan algunas incongruencias queresultan tras combinar las supuestas evidencias arqueológicas con el escenario lingüísticodescrito en capítulos anteriores. Las conclusiones generales se presentan en el capítulo 8. Elapéndice es una tabla comparativa con las dos reconstrucciones disponibles a fecha de hoypara la lengua protoainu, es decir, las propuestas por A. Vovin en su estudio seminal de 1992y en el capítulo 3 de la presente tesis. Dicha tabla incluye 686 reconstrucciones (puedehacerse una sencilla referencia cruzada con Vovin, puesto que ambas están ordenadasalfabéticamente).

Traditional budgeting during financial crisis

[EN] This study examines the evolution of budgeting practices in the extremely difficult Spanish economic environment. In order to analyse if companies are still maintaining their budgeting process and if, right now, they are facing more difficulties in forecasting accurate indicators, two similar web surveys were addressed over two periods of time, firstly in 2008 at the beginning of the financial crisis, and secondly in 2013 after five years of a downward trend. In addition, in-depth interviews were conducted to investigate how companies brought more flexibility to their budgeting process in order to cope with environmental uncertainty. The survey indicates that 97% of respondents are still using a traditional budgeting process being this result similar to the one found in 2008. However, 2013 showed that the reliance on forecasted information is being increasingly questioned. Furthermore the study revealed that the respondents are bringing more flexibility to their processes, being able to modify the objectives once the budget is approved and to obtain new resources outside the budgeting process. This paper contributes to revealing information about difficulties in setting reliable objectives in a turbulent environment and provides data about the evolution of budgeting practices over five years during an austere economic crisis.