Adoption of financial technologies: Implications for money demand and monetary policy

In this paper we argue that inventory models are probably not usefulmodels of household money demand because the majority of households does nothold any interest bearing assets. The relevant decision for most people is notthe fraction of assets to be held in interest bearing form, but whether to holdany of such assets at all. The implications of this realization are interesting and important. We find that(a) the elasticity of money demand is very small when the interest rate is small,(b) the probability that a household holds any amount of interest bearing assetsis positively related to the level of financial assets, and (c) the cost ofadopting financial technologies is positively related to age and negatively relatedto the level of education. Unlike the traditional methods of money demand estimation, our methodology allowsfor the estimation of the interest--elasticity at low values of the nominalinterest rate. The finding that the elasticity is very small for interest ratesbelow 5 percent suggests that the welfare costs of inflation are small. At interest rates of 6 percent, the elasticity is close to 0.5. We find thatroughly one half of this elasticity can be attributed to the Baumol--Tobin orintensive margin and half of it can be attributed to the new adopters or extensivemargin. The intensive margin is less important at lower interest rates and moreimportant at higher interest rates.

Mise en Place d’un Dispositif de Formation a Distance a l’universite du Cap-Vert« e-learning » :Les Technologies de L’information et de la Communication dans L’enseignement du Français Langue Etrangere

Ce mémoire est l’occasion de partager le résultat de la mise en place de ce dispositif de formation à distance que nous avons mené dans l’université du Cap-Vert. Dans la première partie, nous décrirons la nature de la politique éducative au Cap-Vert. Nous contextualiserons les principes de l’installation de l’université publique dans ce pays, ainsi que les intentions d’innovation pédagogique de cette université. La deuxième partie portera un regard complémentaire sur l’utilisation des TIC et de l’internet dans l’enseignement/apprentissage d’une langue, cas du français langue étrangère, et nous nous inspirerons des théories constructiviste et socio-constructiviste. Finalement, la troisième partie détaillera toutes les étapes de la conception et de la mise en place du dispositif de formation à distance. Dans cette troisième partie, nous aborderons dans un premier temps la question des enjeux et des risques du e-Learning et nous présenterons notre mission dans le projet « e-Learning.cv » mené par l’université. Puis, dans un deuxième temps nous analyserons quelques cours que nous avons mis en ligne, en sachant qu’un cours en ligne n’est pas la simple reproduction d’un support pédagogique imprimé mais il offre à l’apprenant un environnement multimédia et interactif. Finalement dans un troisième temps nous essayerons de prendre un peu de recul pour faire une analyse critique de ce que nous avons réalisé et essayer par là même de dégager les perspectives pour améliorer le travail effectué.

A new species of the fungus-farming ant genus Mycetagroicus Brandão & Mayhé-Nunes (Hymenoptera, Formicidae, Attini)

The fungus-farming ant genus Mycetagroicus Brandão & Mayhé-Nunes was proposed based on three species from the Brazilian "Cerrado": M. cerradensis, M. triangularis and M. urbanus. Here we describe a new species of Attini ant of the genus Mycetagroicus, M. inflatus n. sp., based on two workers collected in eastern Pará State, Brazil. A new key for species identification, comments on differences among species and new geographical distribution data are furnished.

The genome of the leaf-cutting ant Acromyrmex echinatior suggests key adaptations to advanced social life and fungus farming.

We present a high-quality (>100× depth) Illumina genome sequence of the leaf-cutting ant Acromyrmex echinatior, a model species for symbiosis and reproductive conflict studies. We compare this genome with three previously sequenced genomes of ants from different subfamilies and focus our analyses on aspects of the genome likely to be associated with known evolutionary changes. The first is the specialized fungal diet of A. echinatior, where we find gene loss in the ant's arginine synthesis pathway, loss of detoxification genes, and expansion of a group of peptidase proteins. One of these is a unique ant-derived contribution to the fecal fluid, which otherwise consists of "garden manuring" fungal enzymes that are unaffected by ant digestion. The second is multiple mating of queens and ejaculate competition, which may be associated with a greatly expanded nardilysin-like peptidase gene family. The third is sex determination, where we could identify only a single homolog of the feminizer gene. As other ants and the honeybee have duplications of this gene, we hypothesize that this may partly explain the frequent production of diploid male larvae in A. echinatior. The fourth is the evolution of eusociality, where we find a highly conserved ant-specific profile of neuropeptide genes that may be related to caste determination. These first analyses of the A. echinatior genome indicate that considerable genetic changes are likely to have accompanied the transition from hunter-gathering to agricultural food production 50 million years ago, and the transition from single to multiple queen mating 10 million years ago.

Implantació de SAP a l'empresa BluTronics Technologies, SA

En aquest treball es presenten les característiques dels sistemes ERP i quines són les necessitats que cobreixen, així com els principals ERP que hi ha al mercat, d'entre els quals se'n seleccionarà un per a la implantació en la nostra empresa, explicant els processos i passos necessaris per a aquesta implantació.

Socio-economic benefits of using space technologies to monitor and respond to earthquakes

Earthquakes represent a major hazard for populations around the world, causing frequent loss of life,human suffering and enormous damage to homes, other buildings and infrastructure. The Technology Resources forEarthquake Monitoring and Response (TREMOR) Team of 36 space professionals analysed this problem over thecourse of the International Space University Summer Session Program and published their recommendations in the formof a report. The TREMOR Team proposes a series of space- and ground-based systems to provide improved capabilityto manage earthquakes. The first proposed system is a prototype earthquake early-warning system that improves theexisting knowledge of earthquake precursors and addresses the potential of these phenomena. Thus, the system willat first enable the definitive assessment of whether reliable earthquake early warning is possible through precursormonitoring. Should the answer be affirmative, the system itself would then form the basis of an operational earlywarningsystem. To achieve these goals, the authors propose a multi-variable approach in which the system will combine,integrate and process precursor data from space- and ground-based seismic monitoring systems (already existing andnew proposed systems) and data from a variety of related sources (e.g. historical databases, space weather data, faultmaps). The second proposed system, the prototype earthquake simulation and response system, coordinates the maincomponents of the response phase to reduce the time delays of response operations, increase the level of precisionin the data collected, facilitate communication amongst teams, enhance rescue and aid capabilities and so forth. It isbased in part on an earthquake simulator that will provide pre-event (if early warning is proven feasible) and post-eventdamage assessment and detailed data of the affected areas to corresponding disaster management actors by means of ageographic information system (GIS) interface. This is coupled with proposed mobile satellite communication hubs toprovide links between response teams. Business- and policy-based implementation strategies for these proposals, suchas the establishment of a non-governmental organisation to develop and operate the systems, are included.

Informe sobre la I International Conference on Multidisciplinary Information Sciences and Technologies - InSciT2006 (Mèrida, 25, 26, 27 i 28 d'octubre de 2006)

Podeu consultar la versió en castellà a http://hdl.handle.net/2445/8955

Informe sobre la I International Conference on Multidisciplinary Information Sciences and Technologies - InSciT2006 (Mérida, 25, 26, 27 y 28 de octubre de 2006)

Podeu consultar la versió en català a http://hdl.handle.net/2445/8954

Systemic and pulmonary vascular dysfunction in children conceived by assisted reproductive technologies.

BACKGROUND: Assisted reproductive technology (ART) involves the manipulation of early embryos at a time when they may be particularly vulnerable to external disturbances. Environmental influences during the embryonic and fetal development influence the individual's susceptibility to cardiovascular disease, raising concerns about the potential consequences of ART on the long-term health of the offspring. METHODS AND RESULTS: We assessed systemic (flow-mediated dilation of the brachial artery, pulse-wave velocity, and carotid intima-media thickness) and pulmonary (pulmonary artery pressure at high altitude by Doppler echocardiography) vascular function in 65 healthy children born after ART and 57 control children. Flow-mediated dilation of the brachial artery was 25% smaller in ART than in control children (6.7±1.6% versus 8.6±1.7%; P<0.0001), whereas endothelium-independent vasodilation was similar in the 2 groups. Carotid-femoral pulse-wave velocity was significantly (P<0.001) faster and carotid intima-media thickness was significantly (P<0.0001) greater in children conceived by ART than in control children. The systolic pulmonary artery pressure at high altitude (3450 m) was 30% higher (P<0.001) in ART than in control children. Vascular function was normal in children conceived naturally during hormonal stimulation of ovulation and in siblings of ART children who were conceived naturally. CONCLUSIONS: Healthy children conceived by ART display generalized vascular dysfunction. This problem does not appear to be related to parental factors but to the ART procedure itself. CLINICAL TRIAL REGISTRATION: URL: www.clinicaltrials.gov. Unique identifier: NCT00837642.

Effect of cropping systems in no-till farming on the quality of a Brazilian Oxisol

The no-till system with complex cropping sequences may improve the structural quality and carbon (C) sequestration in soils of the tropics. Thus, the objective of this study was to evaluate the effects of cropping sequences after eight years under the no-till system on the physical properties and C sequestration in an Oxisol in the municipality of Jaboticabal, Sao Paulo, Brazil. A randomized split-block design with three replications was used. The treatments were combinations of three summer cropping sequences - corn/corn (Zea mays L.) (CC), soybean/soybean (Glycine max L. Merryll) (SS), and soybean-corn (SC); and seven winter crops - corn, sunflower (Helianthus annuus L.), oilseed radish (Raphanus sativus L.), pearl millet (Pennisetum americanum (L.) Leeke), pigeon pea (Cajanus cajan (L.) Millsp), grain sorghum (Sorghum bicolor (L.) Moench), and sunn hemp (Crotalaria juncea L.). Soil samples were taken at the 0-10 cm depth after eight years of experimentation. Soil under SC and CC had higher mean weight diameter (3.63 and 3.55 mm, respectively) and geometric mean diameter (3.55 and 2.92 mm) of the aggregates compared to soil under SS (3.18 and 2.46 mm). The CC resulted in the highest soil organic C content (17.07 g kg-1), soil C stock (15.70 Mg ha-1), and rate of C sequestration (0.70 Mg ha-1 yr-1) among the summer crops. Among the winter crops, soil under pigeon pea had the highest total porosity (0.50 m³ m-3), and that under sunn hemp had the highest water stable aggregates (93.74 %). In addition, sunn hemp did not differ from grain sorghum and contained the highest soil organic C content (16.82 g kg-1) and also had the highest rate of C sequestration (0.67 Mg ha-1 yr-1). The soil resistance to penetration was the lower limit of the least limiting water range, while the upper limit was air-filled porosity for soil bulk densities higher than 1.39 kg dm-3 for all cropping sequences. Within the SC sequence, soil under corn and pigeon pea increased least limiting water range by formation of biopores because soil resistance to penetration decreased with the increase in soil bulk density.