De la nacionalización a la globalización. La era de los conglomerados multimedia

El objetivo fundamental de este artículo es el de definir la estructura de la comunicación audiovisual actual, fruto de unas coordenadas contextuales de carácter político, tecnológico y también social. Nos centraremos en el análisis de la estructura del sistema multimedial global que interfiere directamente en los procesos de producción y consumo de los productos audiovisuales. Éstos, inscritos dentro de una lógica capitalista, distribuidos y pensados a escala global, contribuyen en el proceso de industrialización de la cultura y, en concreto, la comunicación. En consecuencia aparece el asentamiento de una nueva doctrina: la del imperialismo financiero que se encuentra detrás del pensamiento único.

Leverage and beliefs: Personal experience and risk taking in margin lending

What determines risk-bearing capacity and the amount of leverage in financial markets? Thispaper uses unique micro-data on collateralized lending contracts during a period of financialdistress to address this question. An investor syndicate speculating in English stocks wentbankrupt in 1772. Using hand-collected information from Dutch notarial archives, we examinechanges in lenders' behavior following exposure to potential (but not actual) losses. Before thedistress episode, financiers that lent to the ill-fated syndicate were indistinguishable from therest. Afterwards, they behaved differently: they lent with much higher haircuts. Only lendersexposed to the failed syndicate altered their behavior. The differential change is remarkable sincethe distress was public knowledge, and because none of the lenders suffered actual losses ? allfinanciers were repaid in full. Interest rates were also unaffected; the market balanced solelythrough changes in collateral requirements. Our findings are consistent with a heterogeneousbeliefs-interpretation of leverage. They also suggest that individual experience can modify thelevel of leverage in a market quickly.

Desarrollo de una aplicación interactiva multimedia: Elaboración industrial de una emulsión de fase externa silicónica

A partir de una primera experiencia en el desarrollo de una aplicación interactiva multimedia, como fue la elaboración de comprimidos infantiles de paracetamol y aplicación de las Normas de Correcta Fabricación , y visto que ha tenido una gran aceptación por parte de los alumnos, se decidió el realizar una nueva aplicación interactiva multimedia que considerara la otra práctica que se realizaba en la planta piloto del SDM (Servei de Desenvolupament del Medicament), la cual consiste en la elaboración de una emulsión silicónica. Ambas prácticas se llevan a cabo presencialmente en la asignatura de Tecnología Farmacéutica II. En esta segunda aplicación multimedia, si bien se ha mantenido una estructura similar a la primera editada, se ha intentado mejorar todos aquellos aspectos que surgieron durante la programación y la fase de pruebas de dicha multimedia, como por ejemplo el más importante que ha sido el utilizar un tipo de programación que permita visualizar la actividad a través de Internet entre otras muchas mejoras. Además en esta nueva aplicación se ha introducido una actividad que consiste en un simulador de la elaboración de una emulsión en donde los alumnos podrán probar diferentes parámetros de fabricación (velocidad y tiempo de agitación) para encontrar aquellos que den unas características de viscosidad y extensión lo más óptimas posibles. A día de hoy faltan todavía algunos ajustes a dicha aplicación que se pretende ensayar en el curso académico 2004-2005 donde se valorará por parte de los alumnos y profesores su aplicabilidad y su aceptación real. En esta comunicación se presenta las áreas desarrolladas.

Estudio comparativo entre los resultados de una actividad didáctica sobre normas de correcta fabricación en formato multimedia y en formato papel

Se desarrolló una actividad didáctica (Te’n recordes de les NCF?, eminentemente práctica, en dos formatos, multimedia y papel) para reafirmar y evaluar los conocimientos sobre Normas de Correcta Fabricación (NCF) de los alumnos de la asignatura Farmàcia Galènica III.Se describe el estudio llevado a cabo para estudiar si existían diferencias significativas en los resultados obtenidos por los alumnos debidas al empleo de un material interactivo (aplicación para el ordenador) o un material tradicional (ejercicio en papel y escrito).

Improved Privacy-Preserving P2P Multimedia Distribution Based on Recombined Fingerprints

Peer-reviewed

Security, Privacy and Anonymity in Legal Distribution of Copyrighted Multimedia Content over Peer-to-Peer Networks: A Brief Overview

Peer-reviewed

Secure and Anonymous Multimedia Content Distribution in Peer-to-Peer Networks

Peer-reviewed

Interest rate determination in the interbank market

The purpose of this paper is to study the determinants of equilibrium in the market for daily funds. We use the EONIA panel database which includes daily information on the lending rates applied by contributing commercial banks. The data clearly shows an increase in both the time series volatility and the cross section dispersion of rates towards the end of the reserve maintenance period. These increases are highly correlated. With respect to quantities, we find that the volume of trade as well as the use of the standing facilities are also larger at the end of the maintenance period. Our theoretical model shows how the operational framework of monetary policy causes a reduction in the elasticity of the supply of funds by banks throughout the reserve maintenance period. This reduction in the elasticity together with market segmentation and heterogeneity are able to generate distributions for the interest rates and quantities traded with the same properties as in the data.

The daily market for funds in Europe: what has changed with the EMU?

This paper presents evidence that the existence of deposit and lending facilities combined with an averaging provision for the reserve requirement are powerful tools to stabilize the overnight rate. We reach this conclusion by comparing the behavior of this rate in Germany before and after the start of the EMU. The analysis of the German experience is useful because it allows to isolate the effects on the overnight rate of these particular instruments of monetary policy. To show that this outcome is a general conclusion and not a particular result of the German market, we develop a theoretical model of reserve management which is able to reproduce our empirical findings.

Can competition in the credit market be excessive?

We study how market power affects investment and welfare when banks choose between restricting loan sizes and monitoring, in order to alleviate an underlying moral hazard problem. The impact of market power on aggregate welfare is the result of two countervailing effects. An increase in banks' market power results in: (i) higher lending rates, which worsens the borrower's incentive problem and reduces investment by unmonitored firms, (ii) higher monitoring effort, which reduces the proportion of credit-constrained firms. Whenever the second effect dominates, it is optimal to provide banks with some degree of market power.

Cooperative Transmission and Radio Resources Management for Wireless Networks

Report for the scientific sojourn at the Multimedia Communications Laboratory, University of Texas at Dallas, USA, from September to December 2005. The cooperative transmission has been analyzed taking a broadcast relay channel which assumes a scenario with one source and multiple destinations. Moreover, in order to improve the performance in terms of mutual information, it has been considered that for each destination there is another nearby terminal (called relay) which will help to improve the performance of the destination. This scheme combines different types of channels considered in the information theory, such as the relay channel, broadcast channel and interference channel (if the relays transmit information intended only to its associated destination). In this work, the author has studied the optimal way to encode the signals for the different users, known as capacity region (i.e. related to radio resources management ), of the broadcast relay channel.

Investor protection, risk sharing and inequality

This paper studies the relationship between investor protection, financial risk sharing and income inequality. In the presence of market frictions, better protection makes investors more willing to take on entrepreneurial risk while lending to firms. This implies lower cost of external finance and better risk sharing between financiers and entrepreneurs. Investor protection, by boosting the market for risk sharing plays the twofold role of encouraging agents to undertake risky enterprises and providing them with insurance. By increasing the number of risky projects, it raises income inequality. By extending insurance to more agents, it reduces it. As a result, the relationship between the size of the market for risk sharing and income inequality is hump-shaped. Empirical evidence from a cross-section of sixty-eight countries, and a panel of fifty countries over the period 1976-2000, supports the predictions of the model.

Memory in contracts: the experience of the EBRD (1991-2003)

The objective of this paper is to identify the role of memory in repeated contracts with moral hazard in financial intermediation. We use the database we have built containing the contracts signed by the European Bank for Reconstruction and Development EBRD between 1991 and 2003. Our framework is a standard setting of repeated moral hazard. After having controlled for the adverse selection component, we are able to prove that client reputation is the discrimination device according to which the bank fixes the amount of credit for the established clients. Our results unambiguously isolate the effect of memory in the bank's lending decisions.

Aplicatiu de gestió de material multimèdia produït amb Dalet Plus

A principis de 2002, a la facultat de Ciències de la Comunicació de la Universitat Autònoma de Barcelona es va implantar un sistema de digitalització d'àudio, per tal de modernitzar els laboratoris de ràdio i adaptar-los a la realitat actual dels massmedia. Aquest sistema, anomenat Dalet Plus, permet produir, editar i gestionar material multimèdia relacionat amb les assignatures de ràdio impartides a la facultat. Fins ara, no existia cap aplicació que gestionés el material de cursos anteriors produït amb el sistema Dalet. L'objectiu d'aquest projecte, és desenvolupar una aplicació en entorn web, accessible a tothom, per a que alumnes, professors i tècnics puguin consultar, reproduir i recuperar, el material produït amb el sistema Dalet Plus de cursos anteriors.