Credit card debt puzzles

Most US credit card holders revolve high-interest debt, often combined with substantial (i) asset accumulation by retirement, and (ii) low-rate liquid assets. Hyperbolic discounting can resolve only the former puzzle (Laibson et al., 2003). Bertaut and Haliassos (2002) proposed an 'accountant-shopper'framework for the latter. The current paper builds, solves, and simulates a fully-specified accountant-shopper model, to show that this framework canactually generate both types of co-existence, as well as target credit card utilization rates consistent with Gross and Souleles (2002). The benchmark model is compared to setups without self-control problems, with alternative mechanisms, and with impatient but fully rational shoppers.

On the sources of business cycles in the G-7

This paper examines sources of cyclical movements in output, inflation and the term structure of interest rates. It employs a novel identification approach which uses the sign of the cross correlation function in response to shocks to catalog orthogonal disturbances. We find that demand shocks are the dominant source output, inflation and term structure fluctuations in six of the G-7 countries. Within the class of demand disturbances, nominal shocks are dominant, but their importance declined after 1982. Furthermore, there are no significant differences in the proportion of term structure variability explained by different structural sources at different horizons.

Price regulation of plastic money: A critical assessment of Spanish rules

Recent decisions by the Spanish national competition authority (TDC) mandate paymentsystems to include only two costs when setting their domestic multilateral interchange fees(MIF): a fixed processing cost and a variable cost for the risk of fraud. This artificiallowering of MIFs will not lower consumer prices, because of uncompetitive retailing; but itwill however lead to higher cardholders fees and, likely, new prices for point of saleterminals, delaying the development of the immature Spanish card market. Also, to the extent that increased cardholders fees do not offset the fall in MIFs revenue, the task of issuing new cards will be underpaid relatively to the task of acquiring new merchants, causing an imbalance between the two sides of the networks. Moreover, the pricing scheme arising from the decisions will cause unbundling and underprovision of those services whose costs are excluded. Indeed, the payment guarantee and the free funding period will tend to be removed from the package of services currently provided, to be either provided by third parties, by issuers for a separate fee, or not provided at all, especially to smaller and medium-sized merchants. Transaction services will also suffer the consequences that the TDC precludes pricing them in variable terms.

Estudi del procès evolutiu de la maduració del raïm mitjançant un sistema de sensors de temperatura i humitat

Treball de recerca realitzat per alumnes d’ensenyament secundari i guardonat amb un Premi CIRIT per fomentar l'esperit científic del Jovent l’any 2010. L’objectiu principal d'aquest treball és analitzar i quantificar la relació i influència que podria existir entre alguns paràmetres que defineixen les condicions meteorològiques i l'estat de maduració del raïm en les setmanes prèvies a la verema. En la part introductòria s'estableixen els fonaments biològics i tecnològics, per donar pas a la secció on es duu a terme la implantació tecnològica, i s'explica la metodologia experimental i analítica seguides, per donar lloc a l'anàlisi, estudi i valoració dels resultats obtinguts. En el fons, i al llarg de tot el treball de recerca, es pretén que el lector encuriosit es vegi motivat per extreure les seves pròpies deduccions, conclusions i formular els seus propis dubtes sobre els procediments que es descriuen, així com els resultats finals. S'ha pogut establir a partir dels resultats empírics una equació matemàtica entre l'increment de la concentració dels sucres del raïm (factor principal en la seva maduració) i el nombre d'hores de Sol acumulades.

shoPOIng : gestor de POIs per dispositius Android

Aplicació per emmagatzemar les direccions dels llocs d'interès de l'usuari amb l'objectiu de substituir els targeters tradicionals. La seva funcionalitat inclou poder gestionar-los, compartir-los a través del correu electrònic i classificar-los, amb una sèrie de categories i paraules clau per després poder geoposicionar-los i traçar rutes entre els diferents punts des de la ubicació on es troba l'usuari.

UBVRI photoelectric photometry of nearby stars. II.

A second set of UBVRI photometry results for nearby stars of Gliese's (1969) catalog and its supplements, including in this case some multiple systems, are presented. Most of the observations were carried out between July 1984 and December 1985 at Calar Alto with the 1.23-m Centro Astronomico Hispano-Aleman telescope and the 1.52-m Observatorio Astronomico Nacional telescope. The number of observations of program and standard stars for the six runs and the final results for 60 stars are presented.

A search for microquasar candidates at low galactic latitudes

Recent studies of relativistic jet sources in the Galaxy, also known as microquasars, have been very useful in trying to understand the accretion/ejection processes that take place near compact objects. However, the number of sources involved in such studies is still small. In an attempt to increase the number of known microquasars we have carried out a search for new Radio Emitting X-ray Binaries (REXBs). These sources are the ones to be observed later with VLBI techniques to unveil their possible microquasar nature. To this end, we have performed a cross-identification between the X-ray ROSAT all sky survey Bright Source Catalog (RBSC) and the radio NRAO VLA Sky Survey (NVSS) catalogs under very restrictive selection criteria for sources with |b|<5 degrees. We have also conducted a deep observational radio and optical study for six of the selected candidates. At the end of this process two of the candidates appear to be promising, and deserve additional observations aimed to confirm their proposed microquasar nature.

UBVRI photoelectric photometry of nearby stars

In order to complete the photometric data of the Gliese (1969) 'Catalog of Nearby Stars', and in addition use these data for the Hipparcos space astrometry mission, program stars have been selected from the catalog and its supplements on the basis of their having an incomplete set of UBVRI photometric data of magnitude lower than 13. The program developed rejects determinations of any magnitude or color index having a residual greater than 2(sigma-prime), where sigma-prime is the standard deviation for the determinations of unit weight.

UBVRI photometry of G, K, M Hipparcos stars

UBVRI data are presented for a set of 229 late-type stars, most of them being high proper motion stars. All these data are part of the Input Catalog planned observations for the Hipparcos mission.

UBVRI photometry of G, K, M Hipparcos stars. II.

As indicated by Grenon (1989), the data of the present series of reports on the UBVRI photometry of late-type stars in the Hipparcos Input Catalog are to be employed in computations of Hipparcos observing time, as well as in evaluating the observability of faint stars by the satellite. Attention is here given to late type stars in the V = 8-12 range, including distant red giants in the Galactic plane (Hipparcos proposal 189), as well as high proper motion stars included in the G, LTT, LP, and MCC catalogs.

Analysis of IRAS stellar sources in Alpha Persei region

The present study is an analysis of IR sources in the Alpha Persei open cluster region from the IRAS Point Source Catalog and from ground-based photometric observations. Cross-identification between stars in the region and IRAS Point Source Catalog was performed and nine new associations were found. BVRI Johnson photometry for 24 of the matched objects have been carried out. Physical identity of visual and IRAS sources and relationship to the Alpha Persei open cluster are discussed.

Voces verbales en el español de Argentina

El objetivo del trabajo es determinar si el uso de un grupo de verbos es propio del español de Argentina o si, por el contrario, se extiende a otros países hispanohablantes. Para ello, se analizan el proceso de derivación verbal, la semántica y el carácter neológico de las voces.

Gestión de un club de pádel

Este proyecto es un estudio que pretende realizar una aplicación dirigida a centros deportivos, implementando a través de BIOMAX el acceso a las instalaciones utilizando tarjetas de proximidad. Además la aplicación permitirá gestionar de forma eficiente a sus socios e instalaciones. De esta manera se consigue automatizar - mejorando en tiempo y calidad -una tarea imprescindible de realizar, control de accesos de forma sencilla y con un mantenimiento fácil por parte de los usuarios que la utilicen. Para ello se utilizará un dispositivo KIMALDI que nos permitirá gestionar el control de accesos

Catalogación y valoración de las webquests desde el área de educación física y el tratamiento de temáticas transversales

Gears of the current millennium have been activated by the hit entry into the information society that has generated a whole range of social and educational changes, it is difficult to stay out of their influence, such as: the dizzying presence of new technologies (NNTT) and the entrenchment of a crisis of values. Physical education has been affected by this avalanche of developments that have sparked the birth of original teaching and learning tools that can be applied in the classroom. In this sense, WebQuests have been configured as a unifying and educational activities that allow addressing the treatment of specific thematic area that we are dealing with the work of certain cross¿cutting. But how do you know what product we have before us, what is its effectiveness? What criteria will allow us to classify it as a fit and capable of being applied in our particular educational context? To clarify these and other issues that any teacher could arise before the election of a multimedia educational materials, our particular object of study has a double claim on the one hand, developing two tools: the card catalog and the heading of Valuation of WebQuests and secondly, to apply these tools in order to find out / determine the degree of quality of a sample of WebQuests. In this article sets forth, in summary form, the various stages of what our research has gone since the establishment of a synthesized theoretical basis, via the definition of the basic guidelines for the design of the exhibition and research results and ending with The list of the ideas and proposals arising from thework.

Language variation in source texts and their translations: the case of L3 in film translation

In addition to the two languages essentially involved in translation, that of the source text (L1) and that of the target text (L2), we propose a third language (L3) to refer to any other language(s) found in the text. L3 may appear in the source text (ST) or the target text (TT), actually appearing more frequently inSTs in our case studies. We present a range of combinations for the convergence and divergence of L1, L2 and L3, for the case of feature films and their translations using examples from dubbed and subtitled versions of films, but we are hopeful that our tentative conclusions may be relevant to other modalities of translation, audiovisual and otherwise. When L3 appears in an audiovisual ST,we find a variety of solutions whereby L3 is deleted from or adapted to the TT.In the latter case, L3 might be rendered in a number of ways, depending on factors such as the audience’s familiarity with L3, and the possibility that L3 inthe ST is an invented language.