Causality and contagion in peripheral EMU public debt markets: a dynamic approach

Our research aims to analyze the causal relationships in the behavior of public debt issued by peripheral member countries of the European Economic and Monetary Union -EMU-, with special emphasis on the recent episodes of crisis triggered in the eurozone sovereign debt markets since 2009. With this goal in mind, we make use of a database of daily frequency of yields on 10-year government bonds issued by five EMU countries -Greece, Ireland, Italy, Portugal and Spain-, covering the entire history of the EMU from its inception on 1 January 1999 until 31 December 2010. In the first step, we explore the pair-wise causal relationship between yields, both for the whole sample and for changing subsamples of the data, in order to capture the possible time-varying causal relationship. This approach allows us to detect episodes of contagion between yields on bonds issued by different countries. In the second step, we study the determinants of these contagion episodes, analyzing the role played by different factors, paying special attention to instruments that capture the total national debt -domestic and foreign- in each country.

Forward Looking Banking Stress in EMU Countries

Based on contingent claims analysis, CCA, this paper tries to estimate the systemic risk build-up in the European Economic and Monetary Union, EMU countries using a market based measure distance-to-default, DtD. It analyzes the individual and aggregated series for a comprehensive set of banks in each eurozone country over the period 2004-Q4 to 2013-Q2. Given the structural differences in financial sector and banking regulations at national level, the indices provide a useful indicator for monitoring country specific banking vulnerability and stress. We find that average DtD indicators are intuitive, forward-looking and timely risk indicators. The underlying trend, fluctuations and correlations among indices help us analyze the interdependence while cross-sectional differences in DtD prior to crisis suggest banking sector fragility in peripheral EMU countries.

Intervenció de l’educació musical per el desenvolupament de la creativitat a l’etapa d’educació primària

L’objecte d’estudi de la present recerca és que la creativitat ha d’estar present a l’escola, concretament a l’àrea d’Educació Musical, ja que permet potenciar i augmentar el pensament creatiu, les habilitats intel·lectuals, expressives i de creació musical dels alumnes a través d’activitats que fomenten la creativitat. Per això, aquesta recerca fa un anàlisi de com influeix desenvolupar activitats de creació musical a l’aula. El mètode qualitatiu de recollida de dades es fa a través de l’observació a l’aula i d’una entrevista als mestres de música, d’aquí s’extreuen els resultats mitjançant els indicadors de creativitat. Les dades interpretades es representen en gràfics acompanyats de les descripcions necessàries. Referent als resultats, es percep una tendència a què les pràctiques musicals creatives influeixen la creativitat.

Generació bisbalenca del 77: Mazoni, Miquel Abras i Sanjosex : Retrat d’una historia musical

El present Treball Final de Grau se centra en la vida i la carrera professional de tres cantautors bisbalencs que formen part del panorama musical català actual: Miquel Abras, Jaume Pla (conegut com a Mazoni) i Carles Sanjosé (conegut com a Sanjosex). A través d’ells s’ha estirat un fil que ens ha portat a descobrir la historia musical de la Bisbal des dels inicis de la famosa orquestra La Principal de la Bisbal (1888), passant per les dècades dels anys 80 i 90 amb grups com Komando Moriles o Club Moriarty, fins arribar a d’avui amb ells tres. L’anomenada Escena Bisbalenca avarca un panorama musical molt important per a la capital de la comarca del Baix Empordà. A partir d’aquí, s’han fet entrevistes a tota persona que hi estava relacionada, com la regidora de cultura de l’Ajuntament de la Bisbal, la discogràfica Bankrobber, els encarregats del projecte Escena Bisbalenca, entre altres. Gràcies a aquestes trobades, s’ha pogut fer un reportatge exhaustiu de per què la música a la Bisbal pren un paper tan rellevant; i poder saber per què tres musics que han nascut al mateix any i al mateix lloc han triomfat a la vegada.

Adaptation and validation of the Spanish Version of the 'Survey Work-Home Interaction-NijmeGen' (SWING) to Spanish speaking countries

The purpose of this study is the adaptation and validation of the"Survey Work-Home Interaction NijmeGen" (SWING) developed by Geurts and colleagues to Spanish speaking countries (SWING-SSC). In order to analyze the questionnaire"s psychometric properties, confirmatory factor analysis (CFA) was carried out with a sample of 203 employees from various Spanish-speaking countries. Criterion related validity was tested by examining correlations between the SWING-SSC, and the theoretically relevant variables: health, role conflict, role clarity and supervisor support. Finally, reliability was tested analyzing the internal consistency of the scales. The analyses carried out indicate that SWING-SSC has good psychometric properties. In addition, the present results support the relation of the construct with health, role conflict, role clarity, and supervisor support. This study offers evidence for a sound work-life balance measure that contributes to the encouragement adequate conditions in the workplace, to reduce the conflict between the two spheres of professional and personal life, and to enhance positive relationships.

L'impacte de la iconografia musical en les dinàmiques socials : David Bowie o el poder social de les imatges musicals

El present treball de recerca posa de relleu que la música és un element fonamental de la configuració de les societats humanes actuals i analitza un cas concret, el de l'artista britànic David Bowie, per il·lustrar els mecanismes pels quals un artista pot convertir-se en una icona i, d'aquesta manera, influir decissivament en la configuració d'elements de l'imaginari social compartit.

Adapting established instruments to build useful food sovereignty indicators

The recent context of global food emergency and ecological crisis has increased the relevance of people’s struggle for food sovereignty (FSv), which promotes the transformation of the dominant food system and claims ‘the right of peoples to healthy and culturally appropriate food produced through ecologically sound and sustainable methods, and their right to define their own food and agriculture systems’. Revisiting two Spanish and Catalan articles developing FSv indicators, this article aims at discussing the need and utility of developing FSv indicators at different territorial levels. Confronting these two territorial scales, the paper also identifies common steps that can facilitate other future processes of building FSv indicators. As a conclusion, the paper suggests that these processes of building indicators can contribute to providing political direction at different geographical scales for the implementation of the FSv proposal. At the same time, they favor the movement’s self-reflexivity in its practices while supporting the collective shaping of future actions

Les audicions musicals a l'educació infantil: estratègies i recursos que s'utilitzen actualment a les escoles catalanes

L’audició a l’edat infantil és important per tal que els infants puguin escoltar profundament i així poder interioritzar la música. Aquest treball pretén mostrar la realitat de les escoles catalanes a l’hora de treballar les audicions musicals: els recursos i les estratègies que utilitzen, l’estona que hi dediquen, la importància de treballar-les... Per fer-ho m’he basat en la metodologia interpretativa, utilitzant l’enquesta per tal de conèixer l’opinió de tants centres catalans com ha sigut possible, basant-me en la llista d’escoles de Catalunya a través de la pàgina web de la Generalitat de Catalunya. També he utilitzat l’entrevista per tal d’enriquir el treball amb els coneixements de tres especialistes de música: Montse Amoròs, Àngels Hugàs i Mercè Carrera. A més a més, de les respostes obtingudes dels instruments de recollida de dades he escollit cinc audicions i recursos a per veure la reacció d’un grup d’infants de 4 i 5 anys del Ceip Puig d’Arques de Cassà de la Selva.

Catalan law in the European context

The article provides an overview of the Catalan law at the European context. How the Catalan institutions can tackle on the Spanish Government policies and decisions in front of the European Union. And how the European Union Law and policies are implemented in a decentralized country such Spain where Autonomous Communities have their own Governments and Parliaments. There is also examined how this Spanish territorial decentralized structure affects the implementation of such EU norms and its control. Finally, there is exposed how Catalan institutions manage to participate in front of the European Union institutions. Which are the instruments that can guarantee this participation and which are the EU responses to them.

Health care utilization among immigrants and native-born populations in 11 European countries. Results from the Survey of Health, Ageing and Retirement in Europe

This study examines health care utilization of immigrants relative to the native-born populations aged 50 years and older in eleven European countries. Methods. We analyzed data from the Survey of Health Aging and Retirement in Europe (SHARE) from 2004 for a sample of 27,444 individuals in 11 European countries. Negative Binomial regression was conducted to examine the difference in number of doctor visits, visits to General Practitioners (GPs), and hospital stays between immigrants and the native-born individuals. Results: We find evidence those immigrants above age 50 use health services on average more than the native-born populations with the same characteristics. Our models show immigrants have between 6% and 27% more expected visits to the doctor, GP or hospital stays when compared to native-born populations in a number of European countries. Discussion: Elderly immigrant populations might be using health services more intensively due to cultural reasons.

Prices versus exams as strategic instruments for competing universities

In this paper we investigate the optimal choice of prices and/or exams by universities in the presence of credit constraints. We first compare the optimal behavior of a public, welfare maximizing, monopoly and a private, profit maximizing, monopoly. Then we model competition between a public and a private institution and investigate the new role of exams/prices in this environment. We find that, under certain circumstances, the public university may have an interest to raise tuition fees from minimum levels if it cares for global welfare. This will be the case provided that (i) the private institution has higher quality and uses only prices to select applicants, or (ii) the private institution has lower quality and uses also exams to select students. When this is the case, there are efficiency grounds for raising public prices

Liderazgo y dirección de empresas en el s. XXI

Peer-reviewed

Estudi i disseny d'un sistema de modificació tímbrica en instruments determinats a través d'anàlisi, filtratge i síntesi de senyal d'àudio digital

Aquest treball final de carrera sorgeix doncs d'una idea molt ambiciosa: crear un sistema de processat de senyal digital que permetés, a temps real, convertir un timbre d'un instrument determinat a un altre, és a dir, a través d'un micròfon que capti el so d'un instrument, com ara el clarinet, analitzar i processar mitjançant programari d'ordinador aquest so d'entrada. Conseqüentment, convertir-lo per poder percebre'l a través dels altaveus com a so d'un altre instrument. D'aquesta manera, un músic amb habilitats per tocar el clarinet, mitjançant aquesta eina podria simular so de saxo, trompeta, etc., sense haver de recórrer a un sintetitzador ni a altres instruments MIDI.

Fair value versus historical cost-based valuation for biological assets: Predictability of financial information

There is an intense debate on the convenience of moving from historical cost (HC) toward the fair value (FV) principle. The debate and academic research is usually concerned with financial instruments, but the IAS 41 requirement of fair valuation for biological assets brings it into the agricultural domain. This paper performs an empirical study with a sample of Spanish farms valuing biological assets at HC and a sample applying FV, finding no significant differences between both valuation methods to assess future cash flows. However, most tests reveal more predictive power of future earnings under fair valuation of biological assets, which is not explained by differences in volatility of earnings and profitability. The study also evidences the existence of flawed HC accounting practices for biological assets in agriculture, which suggests scarce information content of this valuation method in the predominant small business units existing in the agricultural sector in advanced Western countries