The role of central bank operating procedures in an economy with productive government spending

The choice of either the rate of monetary growth or the nominal interest rate as the instrument controlled by monetary authorities has both positive and normative implications for economic performance. We reexamine some of the issues related to the choice of the monetary policy instrument in a dynamic general equilibrium model exhibiting endogenous growth in which a fraction of productive government spending is financed by means of issuing currency. When we evaluate the performance of the two monetary instruments attending to the fluctuations of endogenous variables, we find that the inflation rate is less volatile under nominal interest rate targeting. Concerning the fluctuations of consumption and of the growth rate, both monetary policy instruments lead to statistically equivalent volatilities. Finally, we show that none of these two targeting procedures displays unambiguously higher welfare levels.

Allocative and productive efficiency in REE with asymetric information

We characterize the divergence between informational and economic efficiency in a rational expectations competitive market with asymmetric information about the costs of production. We find that prices may contain too much or too little information with respect to incentive efficient allocations depending on whether the main role of the price is, respectively, the traditional as index of scarcity or informational. Only when REE degenerate to Cournot equilibria the market solution does not show llocative inefficiency. With multidimensional uncertainty we find that the REE price does not have in general the incentive efficient information mix: It pays to sacrifice allocative efficiency at the REE to improve productive efficiency.

Productive efficiency and regulatory reform: The case of vehicle inspection services

Measuring productive efficiency provides information on the likely effects of regulatory reform. We present a Data Envelopment Analysis (DEA) of a sample of 38 vehicle inspection units under a concession regime, between the years 2000 and 2004. The differences in efficiency scores show the potential technical efficiency benefit of introducing some form of incentive regulation or of progressing towards liberalization. We also compute scale efficiency scores, showing that only units in territories with very low population density operate at a sub-optimal scale. Among those that operate at an optimal scale, there are significant differences in size; the largest ones operate in territories with the highest population density. This suggests that the introduction of new units in the most densely populated territories (a likely effect of some form of liberalization) would not be detrimental in terms of scale efficiency. We also find that inspection units belonging to a large, diversified firm show higher technical efficiency, reflecting economies of scale or scope at the firm level. Finally, we show that between 2002 and 2004, a period of high regulatory uncertainty in the sample’s region, technical change was almost zero. Regulatory reform should take due account of scale and diversification effects, while at the same time avoiding regulatory uncertainty.

Entorno de desarrollo para clusters

El presente trabajo expone los entornos de desarrollo de aplicaciones paralelas en sistemas distribuidos. Se ha dedicado especial atención a los entornos gráficos, como plataforma de acceso al cluster. Dada la cantidad de alternativas a seleccionar en este tipo de entornos, como puede ser la parametrización de las aplicaciones, especificación de la arquitectura a utilizar de los nodos, caracterización de la carga, políticas de planificación, etc, hace que este trabajo pueda servir de punto inicial de partida a usuarios que deseen iniciarse en este tipo de entornos.

Manejo de históricos en clusters

CISNE es un sistema de cómputo en paralelo del Departamento de Arquitectura de Computadores y Sistemas Operativos (DACSO). Para poder implementar políticas de ordenacción de colas y selección de trabajos, este sistema necesita predecir el tiempo de ejecución de las aplicaciones. Con este trabajo se pretende proveer al sistema CISNE de un método para predecir el tiempo de ejecución basado en un histórico donde se almacenarán todos los datos sobre las ejecuciones.

Why do creative industries cluster? An analysis of the determinants of clustering of creative industries

Creative industries tend to concentrate mainly around large- and medium-sized cities, forming creative local production systems. The text analyses the forces behind clustering of creative industries to provide the first empirical explanation of the determinants of creative employment clustering following a multidisciplinary approach based on cultural and creative economics, evolutionary geography and urban economics. A comparative analysis has been performed for Italy and Spain. The results show different patterns of creative employment clustering in both countries. The small role of historical and cultural endowments, the size of the place, the average size of creative industries, the productive diversity and the concentration of human capital and creative class have been found as common factors of clustering in both countries.

Technological innovation in creative clusters. The case of laser in conservation of artworks in Florence

The field of laser application to the restoration and cleaning of cultural assets is amongst the most thriving developments of recent times. Ablative laser technological systems are able to clean and protect inestimable works of art subject to atmospheric agents and degradation over time. This new technology, which has been developing for the last forty year, is now available to restorers and has received a significant success all over Europe. An important contribution in the process of laser innovation has been carried out in Florence by local actors belonging to a creative cluster. The objects of the analysis are the genesis of this innovation in this local Florentine context, and the relationships among the main actors who have contributed in it. The study investigates how culture can play a part in the generation of ideas and innovations, and which are the creative environments that can favour it. In this context, the issue of laser technologies for the restoration of cultural heritage has been analysed as a case study in the various paths taken by the Creative Capacity of the Culture (CCC).

El impacto de las aplicaciones intensivas de E/S en la planificación de trabajos en clusters no-dedicados

Con la mayor capacidad de los nodos de procesamiento en relación a la potencia de cómputo, cada vez más aplicaciones intensivas de datos como las aplicaciones de la bioinformática, se llevarán a ejecutar en clusters no dedicados. Los clusters no dedicados se caracterizan por su capacidad de combinar la ejecución de aplicaciones de usuarios locales con aplicaciones, científicas o comerciales, ejecutadas en paralelo. Saber qué efecto las aplicaciones con acceso intensivo a dados producen respecto a la mezcla de otro tipo (batch, interativa, SRT, etc) en los entornos no-dedicados permite el desarrollo de políticas de planificación más eficientes. Algunas de las aplicaciones intensivas de E/S se basan en el paradigma MapReduce donde los entornos que las utilizan, como Hadoop, se ocupan de la localidad de los datos, balanceo de carga de forma automática y trabajan con sistemas de archivos distribuidos. El rendimiento de Hadoop se puede mejorar sin aumentar los costos de hardware, al sintonizar varios parámetros de configuración claves para las especificaciones del cluster, para el tamaño de los datos de entrada y para el procesamiento complejo. La sincronización de estos parámetros de sincronización puede ser demasiado compleja para el usuario y/o administrador pero procura garantizar prestaciones más adecuadas. Este trabajo propone la evaluación del impacto de las aplicaciones intensivas de E/S en la planificación de trabajos en clusters no-dedicados bajo los paradigmas MPI y Mapreduce.

MoniTo 4.0, una herramienta de monitorización de clusters

La herramienta de monitorización de clusters MoniTo debe estar preparada ante los constantes cambios en el kernel de Linux que la pudieran dejar inutilizable. Para evitarlo se ha modificado su implementación utilizando librerías Libgtop. También se ha modificado su interfaz web para adaptarla a los nuevos tiempos, optimizar su funcionamiento y dotarla de nuevas posibilidades.

Counterpoise-corrected geometries and harmonic frequencies of N-body clusters: application to (HF)n (n=3,4)

A study was conducted on the methods of basis set superposition error (BSSE)-free geometry optimization and frequency calculations in clusters larger than a dimer. In particular, three different counterpoise schemes were critically examined. It was shown that the counterpoise-corrected supermolecule energy can be easily obtained in all the cases by using the many-body partitioning of energy

Protective or counter-productive? Labor market institutions and the effect of immigration on EU natives

We estimate the effect of immigrant flows on native employment in WesternEurope, and then ask whether the employment consequences of immigrationvary with institutions that affect labor market flexibility. Reducedflexibility may protect natives from immigrant competition in the nearterm, but our theoretical framework suggests that reduced flexibility islikely to increase the negative impact of immigration on equilibriumemployment. In models without interactions, OLS estimates for a panel ofEuropean countries in the 1980s and 1990s show small, mostly negativeimmigration effects. To reduce bias from the possible endogeneity ofimmigration flows, we use the fact that many immigrants arriving after1991 were refugees from the Balkan wars. An IV strategy based onvariation in the number of immigrants from former Yugoslavia generateslarger though mostly insignificant negative estimates. We then estimatemodels allowing interactions between the employment response toimmigration and institutional characteristics including business entrycosts. These results, limited to the sample of native men, generallysuggest that reduced flexibility increases the negative impact ofimmigration. Many of the estimated interaction terms are significant,and imply a significant negative effect on employment in countrieswith restrictive institutions.

An analysis of the currently available calibrations inStromgren photometry by using open clusters

In recent years, several authors have revised the calibrations used to compute physical parameters (tex2html_wrap_inline498, tex2html_wrap_inline500, log g, [Fe/H]) from intrinsic colours in the tex2html_wrap_inline504 photometric system. For reddened stars, these intrinsic colours can be computed through the standard relations among colour indices for each of the regions defined by Strömgren (1966) on the HR diagram. We present a discussion of the coherence of these calibrations for main-sequence stars. Stars from open clusters are used to carry out this analysis. Assuming that individual reddening values and distances should be similar for all the members of a given open cluster, systematic differences among the calibrations used in each of the photometric regions might arise when comparing mean reddening values and distances for the members of each region. To classify the stars into Strömgren's regions we extended the algorithm presented by Figueras et al. (1991) to a wider range of spectral types and luminosity classes. The observational ZAMS are compared with the theoretical ZAMS from stellar evolutionary models, in the range tex2html_wrap_inline506 K. The discrepancies are also discussed.

Photometric Bgr survey of the distant clusters of galaxies CL 1613+3104 and CL 1600+4109

We present a set of photometric data concerning two distant clusters of galaxies: Cl 1613+3104 (z=0.415) and Cl 1600+4109 (z=0.540). The photometric survey extends to a field of about 4' x 3'. It was performed in 3 filters: Johnson B, and Thuan-Gunn g and r. The sample includes 679 objects in the field of Cl 1613+3104 and 334 objects in Cl 1600+4109.

New measurements of radial velocities in clusters of galaxies

Redshifts for 100 galaxies in 10 clusters of galaxies are presented based on data obtained between March 1984 and March 1985 from Calar Alto, La Palma, and ESO, and on data from Mauna Kea. Data for individual galaxies are given, and the accuracy of the velocities of the four instruments is discussed. Comparison with published data shows the present velocities to be shifted by + 4.0 km/s on average, with a standard deviation in the difference of 89.7 km/s, consistent with the rms of redshift measurements which range from 50-100 km/s.