Monetary policy and unemployment

Much recent research has focused on the development and analysisof extensions of the New Keynesian framework that model labor marketfrictions and unemployment explicitly. The present paper describessome of the essential ingredients and properties of those models, andtheir implications for monetary policy.

Will EMU increase eurosclerosis?

In this paper we study the relationship between labor market institutions and monetary policy. We use a simple macroeconomic framework to show how optimal monetary policy rules depend on labor institutions (labor adjustment costs, and nominal and real wage rigitidy) and social preferences regarding inflation, employment, and real wages. We also calibrate our model tocompute how the change in social welfare brought about by giving up monetary policy as a result of joining the Economic and Monetary Union (EMU) depends on institutions and preferences. We then use the calibrated model to analyze how EMU affects the incentives for labor market reform, both for reformsthat increase the economy's adjustment potential and for those that affect the long-run unemployment rate.

Monetary policy and rational asset price bubbles

I examine the impact of alternative monetary policy rules on arational asset price bubble, through the lens of an overlapping generations model with nominal rigidities. A systematic increase in interestrates in response to a growing bubble is shown to enhance the fluctuations in the latter, through its positive effect on bubble growth. Theoptimal monetary policy seeks to strike a balance between stabilization of the bubble and stabilization of aggregate demand. The paper'smain findings call into question the theoretical foundations of the casefor "leaning against the wind" monetary policies.

Control d'il·luminació i ventilació d'un pàrquing

El treball presentat ve motivat per la necessitat d’instal•lació d’un pàrquing públic i privat de nova construcció a nivell d’il•luminació i ventilació. Per poder satisfer les necessitats del nostre client d’estalvi energètic i confort en l’edifici es decideix d’implementar una instal•lació immòtica que és l’aplicació de tècniques de gestió i control automatitzat a un edifici terciari amb bus de comunicació KNX/EIB. Per a la il•luminació s’han utilitzat fluorescents amb balasts DALI, que permeten la seva regulació i control, per així poder adequar en tot moment l’encesa i intensitat de llum d’aquests. En quant a la ventilació s’han utilitzat variadors de freqüència per també poder optimitzar el funcionament dels ventiladors podent posar-los en marxa quan realment sigui necessari i a la potència que calgui. Per enllaçar tots els elements de la instal•lació, detectors i actuadors, sorgeig la necessitat d’implementar xarxes de comunicació com el KNX/EIB, DALI, Modbus i Ethernet. Per gestionar variables, comunicacions i controlar elements, s´hi han implementen dos autòmats programables a més d’un PC integrat per la visualització i el control del pàrquing. S’ha aconseguit de realitzar un pàrquing totalment automàtic on no és necessaria l’actuació dels operaris i amb les principals càrregues elèctriques totalment regulables en potència. S’ha comprovat que la instal•lació funciona per sota de la potència nominal de les càrregues amb l’estalvi energètic que això suposa.

Huecos y más huecos para aprender

Una de las tareas más habituales en los manuales de ELE y también en las clases es la de rellenar vacíos. El aprendiz debe completar un agujero en una frase, una línea subrayada al final de un listado, un espacio en blanco en una conjugación verbal, en una lista de vocabulario, etc. Se suele usar esta técnica para trabajar la gramática (morfología verbal, sintaxis) o el léxico, aunque los docentes mástradicionales o los que trabajan con lengua materna también la usan con el objetivo de aprender ortografía.

A wavelet-based method for the determination of the relative resolution between remotely sensed images

Spatial resolution is a key parameter of all remote sensing satellites and platforms. The nominal spatial resolution of satellites is a well-known characteristic because it is directly related to the area in ground that represents a pixel in the detector. Nevertheless, in practice, the actual resolution of a specific image obtained from a satellite is difficult to know precisely because it depends on many other factors such as atmospheric conditions. However, if one has two or more images of the same region, it is possible to compare their relative resolutions. In this paper, a wavelet-decomposition-based method for the determination of the relative resolution between two remotely sensed images of the same area is proposed. The method can be applied to panchromatic, multispectral, and mixed (one panchromatic and one multispectral) images. As an example, the method was applied to compute the relative resolution between SPOT-3, Landsat-5, and Landsat-7 panchromatic and multispectral images taken under similar as well as under very different conditions. On the other hand, if the true absolute resolution of one of the images of the pair is known, the resolution of the other can be computed. Thus, in the last part of this paper, a spatial calibrator that is designed and constructed to help compute the absolute resolution of a single remotely sensed image is described, and an example of its use is presented.

Industrial agglomerations and wage gradients: the Spanish economy in the interwar period

This paper gives new evidence on the relationship between integration and industrial agglomeration in the presence of scale economies, by testing directly one of the predictions that can be derived from Krugman (1991), that is, the existence of regional nominal wage gradients and its transformation following changes in trade regimes. Our case study analyzes the effects of the substitution of an open economy by a closed economy regime, exactly the opposite process studied by Hanson (1996, 1997). In Spain, during the interwar period, protectionist policies would have favored the loss of centrality of the coastal location (Barcelona) and the relative rise of central locations (such as Madrid). Our results indicate the existence of a wage gradient centered in Barcelona during the interwar period (1914-1930) and its weakening after 1925.

Aggregate shocks or vertical tax interdependence? Evidende from gasoline and cigarettes

[cat] Besley i Rosen -1998- van ser els primers autors en estimar empíricament la rellevància de les externalitats impositives verticals. Aquests autors varen fer-ho per al cas dels impostos sobre la benzina i el tabac, en concret, per al cas dels EEUU. Ara bé, no varen tenir en compte les diferències en el nivell de vida entre Estats: àrees amb un nivell elevat paguen menys en termes reals que àrees amb un nivell de vida baix, doncs l'impost unitari sobre la benzina o sobre el tabac no difereix d'acord amb l'Estat on l'impost s'aplica. En conseqüència, proposem que la competència impositiva vertical sigui estimada deflactant totes les variables monetàries utilitzant l'anomenat "House Price Index (HPI)", el qual està disponible al nivell dels Estats. Això genera una variable impositiva federal expressada en termes reals i que presenta variació entre Estats. Aquesta estratègia empírica ens permet diferenciar entre la interdependència vertical entre els tipus impositius federals i els estatals de shocks agregats al llarg del temps, utilitzant dades per als EEUU durant el període 1975 a 2006 per a benzina i tabac. Trobem una nivell significatiu de competència impositiva horitzontal, la qual és més elevada en el cas del tabac, però en cap cas reacció impositiva vertical. Els resultats són robustos al període analitzat.

Low-loss rib waveguides containing Si nanocrystals embedded in SiO2

We report on the study and modeling of the structural and optical properties of rib-loaded waveguides working in the 600-900-nm spectral range. A Si nanocrystal (Si-nc) rich SiO2 layer with nominal Si excess ranging from 10% to 20% was produced by quadrupole ion implantation of Si into thermal SiO2 formed on a silicon substrate. Si-ncs were precipitated by annealing at 1100°C, forming a 0.4-um-thick core layer in the waveguide. The Si content, the Si-nc density and size, the Si-nc emission, and the active layer effective refractive index were determined by dedicated experiments using x-ray photoelectron spectroscopy, Raman spectroscopy, energy-filtered transmission electron microscopy, photoluminescence and m-lines spectroscopy. Rib-loaded waveguides were fabricated by photolithographic and reactive ion etching processes, with patterned rib widths ranging from 1¿to¿8¿¿m. Light propagation in the waveguide was observed and losses of 11dB/cm at 633 and 780 nm were measured, modeled and interpreted.

Aggregate shocks or vertical tax interdependence? Evidende from gasoline and cigarettes

[cat] Besley i Rosen -1998- van ser els primers autors en estimar empíricament la rellevància de les externalitats impositives verticals. Aquests autors varen fer-ho per al cas dels impostos sobre la benzina i el tabac, en concret, per al cas dels EEUU. Ara bé, no varen tenir en compte les diferències en el nivell de vida entre Estats: àrees amb un nivell elevat paguen menys en termes reals que àrees amb un nivell de vida baix, doncs l'impost unitari sobre la benzina o sobre el tabac no difereix d'acord amb l'Estat on l'impost s'aplica. En conseqüència, proposem que la competència impositiva vertical sigui estimada deflactant totes les variables monetàries utilitzant l'anomenat "House Price Index (HPI)", el qual està disponible al nivell dels Estats. Això genera una variable impositiva federal expressada en termes reals i que presenta variació entre Estats. Aquesta estratègia empírica ens permet diferenciar entre la interdependència vertical entre els tipus impositius federals i els estatals de shocks agregats al llarg del temps, utilitzant dades per als EEUU durant el període 1975 a 2006 per a benzina i tabac. Trobem una nivell significatiu de competència impositiva horitzontal, la qual és més elevada en el cas del tabac, però en cap cas reacció impositiva vertical. Els resultats són robustos al període analitzat.

Industrial agglomerations and wage gradients: the Spanish economy in the interwar period

This paper gives new evidence on the relationship between integration and industrial agglomeration in the presence of scale economies, by testing directly one of the predictions that can be derived from Krugman (1991), that is, the existence of regional nominal wage gradients and its transformation following changes in trade regimes. Our case study analyzes the effects of the substitution of an open economy by a closed economy regime, exactly the opposite process studied by Hanson (1996, 1997). In Spain, during the interwar period, protectionist policies would have favored the loss of centrality of the coastal location (Barcelona) and the relative rise of central locations (such as Madrid). Our results indicate the existence of a wage gradient centered in Barcelona during the interwar period (1914-1930) and its weakening after 1925.

On the consequences of misspecifing assumptions concerning residuals distribution in a repeated measures and nonlinear mixed modelling context

In this paper we describe the results of a simulation study performed to elucidate the robustness of the Lindstrom and Bates (1990) approximation method under non-normality of the residuals, under different situations. Concerning the fixed effects, the observed coverage probabilities and the true bias and mean square error values, show that some aspects of this inferential approach are not completely reliable. When the true distribution of the residuals is asymmetrical, the true coverage is markedly lower than the nominal one. The best results are obtained for the skew normal distribution, and not for the normal distribution. On the other hand, the results are partially reversed concerning the random effects. Soybean genotypes data are used to illustrate the methods and to motivate the simulation scenarios

Accuracy in the experimental calorimetric study of the crystallization kinetics and predicitve transformation diagrams: Application to a Ga-Te amorphous alloy

The uncertainties inherent to experimental differential scanning calorimetric data are evaluated. A new procedure is developed to perform the kinetic analysis of continuous heating calorimetric data when the heat capacity of the sample changes during the crystallization. The accuracy of isothermal calorimetric data is analyzed in terms of the peak-to-peak noise of the calorimetric signal and base line drift typical of differential scanning calorimetry equipment. Their influence in the evaluation of the kinetic parameters is discussed. An empirical construction of the time-temperature and temperature heating rate transformation diagrams, grounded on the kinetic parameters, is presented. The method is applied to the kinetic study of the primary crystallization of Te in an amorphous alloy of nominal composition Ga20Te80, obtained by rapid solidification.

Growth and magnetic properties of multiferroic LaxBi1-xMnO3 thin films

A comparative study of LaxBi1-xMnO3 thin films grown on SrTiO3 substrates is reported. It is shown that these films grow epitaxially in a narrow pressure-temperature range. A detailed structural and compositional characterization of the films is performed within the growth window. The structure and the magnetization of this system are investigated. We find a clear correlation between the magnetization and the unit-cell volume that we ascribe to Bi deficiency and the resultant introduction of a mixed valence on the Mn ions. On these grounds, we show that the reduced magnetization of LaxBi1-xMnO3 thin films compared to the bulk can be explained quantitatively by a simple model, taking into account the deviation from nominal composition and the Goodenough-Kanamori-Anderson rules of magnetic interactions.

De lo eterno a lo infinito: un intento de reconstrucción del argumento de Meliso (B2-4 D-K)

El autor ofrece un intento de reconstrucción lógicamente consistente e históricamenteplausible del argumento con que probaba Meliso la infinitud de lo que es (Mel. B 2-4 D-K), argumento tradicionalmente considerado como un manualístico ejemplo de falacia. La auténtica demostración de la infinitud por Meliso es la que menciona Aristóteles en De gen. et corr. 1 8, 325 a 13 (= Mel. B 4 a Reale), mientras que B 2, donde se la ha solido querer ver, tan sólo contiene una previa enunciación (primera frase) de los dos argumentos que van a seguir y el desarrollo del primero de ellos; el segundo, sobre la infinitud espacial, se desarrollaría en la segunda parte del fragmento, parte que, excepto la primera frase (B 3), se ha perdido. La reinterpretación de la primera partecomo una prueba de la infinitud se debe a Aristóteles, quien logró sacar magisteril partido de los defectos formales del argumento para echar por tierra la más importante tesis de su adversario atribuyéndole una demostración lógicamente inconsistente, de la que, en realidad, Meliso nunca se sirvió.