Macroprudential policy, countercyclical bank capital buffers and credit supply: Evidence from the Spanish dynamic provisioning experiments

We analyze the impact of countercyclical capital buffers held by banks on the supplyof credit to firms and their subsequent performance. Spain introduced dynamicprovisioning unrelated to specific bank loan losses in 2000 and modified its formulaparameters in 2005 and 2008. In each case, individual banks were impacteddifferently. The resultant bank-specific shocks to capital buffers, coupled withcomprehensive bank-, firm-, loan-, and loan application-level data, allow us toidentify its impact on the supply of credit and on real activity. Our estimates showthat countercyclical dynamic provisioning smooths cycles in the supply of credit andin bad times upholds firm financing and performance.

Anàlisi i disseny d'una aplicació de gestió de material d'emergències

El projecte escollit és la Gestió de Material d'Emergències amb la finalitat de gestionar l'aprovisionament de les diferents unitats que formen una organització en estructura jeràrquica de bombers, aquesta gestió permet portar un control individualitzat del consum de cada unitat i també pot oferir la informació sobre els estocs per ajudar a la presa de decisions davant una emergència.

Resource management research in Passive Optical Networks (PON)

Next Generation Access Networks (NGAN) are the new step forward to deliver broadband services and to facilitate the integration of different technologies. It is plausible to assume that, from a technological standpoint, the Future Internet will be composed of long-range high-speed optical networks; a number of wireless networks at the edge; and, in between, several access technologies, among which, the Passive Optical Networks (xPON) are very likely to succeed, due to their simplicity, low-cost, and increased bandwidth. Among the different PON technologies, the Ethernet-PON (EPON) is the most promising alternative to satisfy operator and user needs, due to its cost, flexibility and interoperability with other technologies. One of the most interesting challenges in such technologies relates to the scheduling and allocation of resources in the upstream (shared) channel. The aim of this research project is to study and evaluate current contributions and propose new efficient solutions to address the resource allocation issues in Next Generation EPON (NG-EPON). Key issues in this context are future end-user needs, integrated quality of service (QoS) support and optimized service provisioning for real time and elastic flows. This project will unveil research opportunities, issue recommendations and propose novel mechanisms associated with the convergence within heterogeneous access networks and will thus serve as a basis for long-term research projects in this direction. The project has served as a platform for the generation of new concepts and solutions that were published in national and international conferences, scientific journals and also in book chapter. We expect some more research publications in addition to the ones mentioned to be generated in a few months.

Aprovisionamiento de SI de Worten España Distribución, S.L.

Peer-reviewed

Nutritional and feeding ecology in the Cory"s shearwater (Calonectris diomedea).

In birds, parents adjust their feeding behaviour according to breeding duties, which ultimately may lead to seasonal adjustments in nutritional physiology and hematology over the breeding season. Although avian physiology has been widely investigated in captivity, few studies have integrated individual changes in feeding and physiological ecology throughout the breeding season in wild birds. To study relationships between feeding ecology and nutritional ecophysiology in Cory"s shearwater Calonectris diomedea, we weighed and took blood samples from 28 males and 19 females during the pre-laying, egg-laying, incubation, hatching and chick-rearing periods of the breeding season. In addition, we fitted 6 birds with geolocators to track their foraging movements throughout the reproductive period. Thus, we examined individual changes in (1) nutritional condition (biochemistry metabolites); (2) oxygen carrying capacity (hematology); and (3) feeding areas and foraging effort (stable isotopes and foraging movements). Geolocators revealed a latitudinal shift in main feeding areas towards more southern and more neritic waters throughout the breeding season, which is consistent with the steady increase in δ13C signatures in the blood. Geolocators also showed a decrease in foraging effort from egg-laying to hatching, reflecting the activity decrease associated with incubation duties. Plasma metabolites, body mass and oxygen carrying capacity were associated with temporal changes in nutritional state and foraging effort in relation to recovery after migration, egg formation, fasting shifts during incubation and chick provisioning. This study shows that combining physiological and ecological approaches can help us understand the influence of breeding duties on feeding ecology and nutritional physiology in wild birds.