Consumption, investment and life insurance strategies with heterogeneous discounting

[cat] En aquest treball s'analitza l'efecte que comporta l'introducció de preferències inconsistents temporalment sobre les decisions òptimes de consum, inversió i compra d'assegurança de vida. En concret, es pretén recollir la creixent importància que un individu dóna a la herència que deixa i a la riquesa disponible per a la seva jubilació al llarg de la seva vida laboral. Amb aquesta finalitat, es parteix d'un model estocàstic en temps continu amb temps final aleatori, i s'introdueix el descompte heterogeni, considerant un agent amb una distribució de vida residual coneguda. Per tal d'obtenir solucions consistents temporalment es resol una equació de programació dinàmica no estàndard. Per al cas de funcions d'utilitat del tipus CRRA i CARA es troben solucions explícites. Finalment, els resultats obtinguts s'il·lustren numèricament.

Exploring the link between flexible working and organizational performance

The expansion of flexible work experienced since the 1980s in developed economies is consistent with a more generic trend towards organizational flexibility, which many authors see as essential in order to compete in the dynamic global environment (Volberda, 1998). From this point of view, the changing demands of the environment have forced organizations to seek the ability to adapt rapidly and effectively as a means to be successful or even to survive. In the quest for flexibility, every area of the organization has been scrutinized in order to render it as ¿agile¿ as possible. In the human resources arena, this analysis has led to the definition of diverse ¿flexible working practices¿ (FWP) that describe a wide range of employment practices, which differ from the traditional full-time job with a fixed salary and a permanent contract. These practices have been described using other terms, such as ¿alternative¿ (Polivka, 1996; Powell & Mainiero, 1999), ¿non-standard¿ (Kalleberg, 2000), or ¿atypical¿ (De Grip, Hoevenberg, &m Willems, 1997), which coincide in denoting their divergence from the most traditional forms of employment. This article will show that quite different practices have been embraced by the common term ¿flexible working practices.¿ Subsequently, the results of empirical research regarding the implications for organizational performance of a number of flexible practices will be commented on.

Els «criteris de visibilització de les dones» en català: límits sintacticosemàntics i discursius

L'objectiu d'aquest article és analitzar els principals criteris que les guies d'estil recomanen per visibilitzar les dones ¿o per fer un ús no sexista del llenguatge¿ des de dos punts de vista: el sintacticosemàntic i el discursiu. Des del punt de vista sintacticosemàntic, s'estudien bàsicament els fenòmens relacionats amb la coordinació, la concordança i la repetició o elisió d'elements (per exemple, especificadors del nom), i la manera com les diferents opcions afecten el significat oracional. Des del punt de vista discursiu, s'analitzen els fenòmens relacionats amb la coreferència; és a dir, la relació entre les diferents maneres d'expressar un mateix referent per mitjà d'elements nominals al llarg del text, i l'efecte que provoquen en el text en conjunt. Amb aquest objectiu, l'estudi analitza des d'un punt de vista qualitatiu les dades proporcionades per un corpus de textos procedents de tres àmbits (polític, administratiu i educatiu) en què s'apliquen sovint aquesta mena de criteris. Paraules clau: català, llenguatge no sexista, visibilització lingüística de les dones, sintaxi, cohesió, coreferència, llenguatge androcèntric, estil. The goal of this article is to analyse the main criteria recommended by style guides aimed at making women more visible or, in other words, to make a non-sexist use of language. I will concentrate on two main aspects: the syntactic-semantic and the discursive. From a syntactic-semantic point of view, the main elements being studied are those related to coordination, agreement and repetition or omission of elements (for instance, noun specifiers), and also the way the different options chosen affect the meaning of the sentence. From a discursive and stylistic point of view, the elements analysed are those related to coreference, that is, the relationship between the different ways of expressing a same referent through different elements in the text, and the effect they produce in the text as a whole. Having this as the main goal, the study analyses from a qualitative point of view the data from a corpus in three different areas (politics, administration and education), which often apply this kind of criteria. Keywords: Catalan, non-sexist language, female linguistic visibility, syntax, cohesion, co-reference, androcentric language, style

8-month non-use of a language. A case tudy. A longitudinal study of the effects on non use of one of the languages (Spanish) of a German L1 multilingual

Under the Dynamic Model of Multilingualism multilinguals are especially vulnerable to language attrition. It was the aim of the present study to verify if this was the case and to observe whether the different linguistic skills (receptive vs. descriptive) and the different linguistic levels (syntactic, lexical, morphological, etc.) would be affected equally.Data were gathered longitudinally by means of a language test for the subject’s reading, writing, listening and speaking skills as well as her knowledge of grammar and vocabulary. Although the overall accuracy remained intact and no proof for attrition in the receptive skills was found, the productive skills - mainly fluency - were shown to have suffered from language attrition. This was demonstrated by an increase in the number of pauses, hesitations, repetitions and self-corrections among others and decrease in the percentage of error-free clauses and decrease in the clause length, in oral and written fluency respectively.

Non-native English-speaking English language teachers: history and research

Although the majority of English language teachers worldwide are non-native English speakers, no research was conducted on these teachers until recently. After the pioneering work of Robert Phillipson in 1992 and Peter Medgyes in 1994, nearly a decade had to elapse for more research to emerge on the issues relating to non-native English teachers. The publication in 1999 of George Braine's book Nonnative educators in English language teaching appears to have encouraged a number of graduate students and scholars to research this issue, with topics ranging from teachers' perceptions of their own identity to students' views and aspects of teacher education. This article compiles, classifies, and examines research conducted in the last two decades on this topic, placing a special emphasis on World Englishes concerns, methods of investigation, and areas in need of further attention.

Atypical language organization in temporal lobe epilepsy revealed by a passive semantic paradigm

Background Mesial temporal lobe epilepsy (MTLE) is the most common type of focal epilepsy in adults and can be successfully cured by surgery. One of the main complications of this surgery however is a decline in language abilities. The magnitude of this decline is related to the degree of language lateralization to the left hemisphere. Most fMRI paradigms used to determine language dominance in epileptic populations have used active language tasks. Sometimes, these paradigms are too complex and may result in patient underperformance. Only a few studies have used purely passive tasks, such as listening to standard speech. Methods In the present study we characterized language lateralization in patients with MTLE using a rapid and passive semantic language task. We used functional magnetic resonance imaging (fMRI) to study 23 patients [12 with Left (LMTLE), 11 with Right mesial temporal lobe epilepsy (RMTLE)] and 19 healthy right-handed controls using a 6 minute long semantic task in which subjects passively listened to groups of sentences (SEN) and pseudo sentences (PSEN). A lateralization index (LI) was computed using a priori regions of interest of the temporal lobe. Results The LI for the significant contrasts produced activations for all participants in both temporal lobes. 81.8% of RMTLE patients and 79% of healthy individuals had a bilateral language representation for this particular task. However, 50% of LMTLE patients presented an atypical right hemispheric dominance in the LI. More importantly, the degree of right lateralization in LMTLE patients was correlated with the age of epilepsy onset. Conclusions The simple, rapid, non-collaboration dependent, passive task described in this study, produces a robust activation in the temporal lobe in both patients and controls and is capable of illustrating a pattern of atypical language organization for LMTLE patients. Furthermore, we observed that the atypical right-lateralization patterns in LMTLE patients was associated to earlier age at epilepsy onset. These results are in line with the idea that early onset of epileptic activity is associated to larger neuroplastic changes.

An Introduction to parametric and non-parametric models for bivariate positive insurance claim severity distributions

We present a real data set of claims amounts where costs related to damage are recorded separately from those related to medical expenses. Only claims with positive costs are considered here. Two approaches to density estimation are presented: a classical parametric and a semi-parametric method, based on transformation kernel density estimation. We explore the data set with standard univariate methods. We also propose ways to select the bandwidth and transformation parameters in the univariate case based on Bayesian methods. We indicate how to compare the results of alternative methods both looking at the shape of the overall density domain and exploring the density estimates in the right tail.

A correlation sensitivity analysis of non-life underwriting risk in solvency capital requirement estimation

This paper analyses the impact of using different correlation assumptions between lines of business when estimating the risk-based capital reserve, the Solvency Capital Requirement (SCR), under Solvency II regulations. A case study is presented and the SCR is calculated according to the Standard Model approach. Alternatively, the requirement is then calculated using an Internal Model based on a Monte Carlo simulation of the net underwriting result at a one-year horizon, with copulas being used to model the dependence between lines of business. To address the impact of these model assumptions on the SCR we conduct a sensitivity analysis. We examine changes in the correlation matrix between lines of business and address the choice of copulas. Drawing on aggregate historical data from the Spanish non-life insurance market between 2000 and 2009, we conclude that modifications of the correlation and dependence assumptions have a significant impact on SCR estimation.

How to use the standard model with own data?

In this work discuss the use of the standard model for the calculation of the solvency capital requirement (SCR) when the company aims to use the specific parameters of the model on the basis of the experience of its portfolio. In particular, this analysis focuses on the formula presented in the latest quantitative impact study (2010 CEIOPS) for non-life underwriting premium and reserve risk. One of the keys of the standard model for premium and reserves risk is the correlation matrix between lines of business. In this work we present how the correlation matrix between lines of business could be estimated from a quantitative perspective, as well as the possibility of using a credibility model for the estimation of the matrix of correlation between lines of business that merge qualitative and quantitative perspective.

ALK rearrangement in a selected population of advanced non small cell lung cancer patients. FISH and inmunohistochemistry diagnostic methods, prevalence and clinical outcomes

Anaplastic lymphoma kinase (ALK) rearrangements represents a new driver oncogenic event in non-small cell lung cancer (NSCLC). ALK positive patients account for a 1-7% of NSCLC patients. The objective of this study is to know the prevalence and clinical characteristics of ALK positive patients in a cohort of NSCLC patients and to compare inmunohistochemistry with D5F3 monoclonal antibody with gold standard method fluorescence in situ hybridation

The interactional space in CLIL (Content and Language Integrated Learning) and EFL (English as a Foreign Language) classrooms

Aquest estudi pretén investigar els intercanvis verbals mestre/a – aprenent(s) en dos contextos d'instrucció diferents: classes amb un enfocament AICLE (Aprenentatge Integrat de Continguts Curriculars i Llengua Estrangera) on s’aprenen continguts no lingüístics a través de l’anglès, per una banda, i classes 'tradicionals' d'anglès com a llengua estrangera, on l’anglès és alhora objecte d’estudi i vehicle de comunicació, per una altra banda. Més concretament, les preguntes que formula el/la mestre/a, la producció oral dels aprenents i el 'feedback' del/de la mestre/a en els episodis d’atenció a la forma s’han estudiat a la llum de les principals teories provinents del camp de l’Adquisició de Segones Llengües (SLA) per tal de demostrar el seu paper en l’aprenentatge de l’anglès. El corpus de dades prové de l’enregistrament de 7 sessions AICLE i d'11 sessions EFL enregistrades en format àudio i vídeo en dos centres públics d’Educació Primària (EP) de Catalunya. A cadascuna de les escoles, el/la mateix/a mestre/a és l’encarregat/da dels dos tipus d’instrucció amb el mateix grup d’aprenents (10-11 anys d’edat), fet que permet eliminar variables individuals com l'aptitud dels aprenents o l'estil del/de la mestre/a.Els resultats mostren un cert nombre de similituds discursives entre AICLE i EFL donat que ambdós enfocaments tenen lloc en el context-classe amb unes característiques ben definides. Tal com apunta la recerca realitzada en aquest camp, la instrucció AICLE reuneix un seguit de condicions idònies per un major desenvolupament dels nivells de llengua anglesa més enllà de les classes ‘tradicionals’ d’anglès. Malgrat això, aquest estudi sembla indicar que el potencial d'AICLE pel que fa a facilitar una exposició rica a l’anglès i una producció oral significativa no s’explota degudament. En aquest sentit, els resultats d’aquest estudi poden contribuir a la formació dels futurs professors d'AICLE si es busca l’assoliment d’una complementarietat d’ambdós contextos amb l’objectiu últim de millorar els nivells de domini de la llengua anglesa.

Non-invasive monitoring of diaphragmatic timing by means of surface contact sensors: an experimental study in dogs

Background: Non-invasive monitoring of respiratory muscle function is an area of increasing research interest, resulting in the appearance of new monitoring devices, one of these being piezoelectric contact sensors. The present study was designed to test whether the use of piezoelectric contact (non-invasive) sensors could be useful in respiratory monitoring, in particular in measuring the timing of diaphragmatic contraction.Methods: Experiments were performed in an animal model: three pentobarbital anesthetized mongrel dogs. The motion of the thoracic cage was acquired by means of a piezoelectric contact sensor placed on the costal wall. This signal is compared with direct measurements of the diaphragmatic muscle length, made by sonomicrometry. Furthermore, to assess the diaphragmatic function other respiratory signals were acquired: respiratory airflow and transdiaphragmatic pressure. Diaphragm contraction time was estimated with these four signals. Using diaphragm length signal as reference, contraction times estimated with the other three signals were compared with the contraction time estimated with diaphragm length signal.Results: The contraction time estimated with the TM signal tends to give a reading 0.06 seconds lower than the measure made with the DL signal (-0.21 and 0.00 for FL and DP signals, respectively), with a standard deviation of 0.05 seconds (0.08 and 0.06 for FL and DP signals, respectively). Correlation coefficients indicated a close link between time contraction estimated with TM signal and contraction time estimated with DL signal (a Pearson correlation coefficient of 0.98, a reliability coefficient of 0.95, a slope of 1.01 and a Spearman's rank-order coefficient of 0.98). In general, correlation coefficients and mean and standard deviation of the difference were better in the inspiratory load respiratory test than in spontaneous ventilation tests.Conclusion: The technique presented in this work provides a non-invasive method to assess the timing of diaphragmatic contraction in canines, using a piezoelectric contact sensor placed on the costal wall.

Towards a User-Friendly Platform for Building Language Resources based on Web Services

This paper presents the platform developed in the PANACEA project, a distributed factory that automates the stages involved in the acquisition, production, updating and maintenance of Language Resources required by Machine Translation and other Language Technologies. We adopt a set of tools that have been successfully used in the Bioinformatics field, they are adapted to the needs of our field and used to deploy web services, which can be combined to build more complex processing chains (workflows). This paper describes the platform and its different components (web services, registry, workflows, social network and interoperability). We demonstrate the scalability of the platform by carrying out a set of massive data experiments. Finally, a validation of the platform across a set of required criteria proves its usability for different types of users (non-technical users and providers).

Automatic Detection of Non-deverbal Event Nouns for Quick Lexicon Production

In this work we present the results of experimental work on the development of lexical class-based lexica by automatic means. Our purpose is to assess the use of linguistic lexical-class based information as a feature selection methodology for the use of classifiers in quick lexical development. The results show that the approach can help reduce the human effort required in the development of language resources significantly.

Constraints and non-existence of rational expectations equilibria

In this article we show that in the presence of trading constraints, such as short sale constraints, the standard definition of a Rational Expectations Equilibrium allows for equilibrium prices that reveal information unknown to any active trader in the market. We propose a new definition of the Rational Expectations Equilibrium that incorporates a stronger measurability condition than measurability with respect to the join of the information sets of the agents and give an example of non-existence of equilibrium. The example is robust to perturbations on the data of the economy and the introduction of new assets.