Tab. 1: U-Pb analyses of zircons from rock samples in MT. Newton and Cumpston Massif, East Antarctica

We present new U-Pb zircon (SHRIMP) data on rocks from Mt Newton and Cumpston Massif in the southern Prince Charles Mountains. Our data demonstrate that Mt Newton was affected by a newly proposed Palaeoproterozoic "Newton" Orogeny at c. 2100-2200 Ma. Sedimentation, felsic volcanism (c. 2200 Ma), metamorphism and folding, followed by granite intrusion (c. 2100 Ma), suggest development of a trough or aulacogene in the area during the early Palaeoproterozoic. An orthogneiss from Cumpston Massif yielded an age of c. 3180 Ma for granitic protolith emplacement, which is in good agreement with many U-Pb zircon ages from similar rocks in the southern Mawson Escarpment. A syn- to late-tectonic muscovite-bearing pegmatite from Cumpston Massif yielded a c. 2500 Ma date of emplacement, which indicates early Palaeoproterozoic activity in this block, probably in response to a tectono-magmatic episode in the Lambert Terrane bordering the Ruker Terrane in the northeast. The correlation of tectono-magmatic events in both the Ruker and Lambert terranes of the southern Prince Charles Mountains provides evidence for their common evolution during the Proterozoic.

A Video-Aware FEC-Based Unequal Loss Protection Scheme for RTP Video Streaming

A video-aware unequal loss protection (ULP) system for protecting RTP video streaming in bursty packet loss networks is proposed. Just considering the relevance of the frame, the state of the channel and the bitrate constraints of the protection bitstream, our algorithm selects in real time the most suitable frames to be protected through forward error correction (FEC) techniques. It benefits from a wise RTP encapsulation that allows working at a frame level without requiring any further process than that of parsing RTP headers, so it is perfectly suitable to be included in commercial transmitters. The simulation results show how our proposed ULP technique outperforms non-smart schemes.

Inter-Packet Symbol Approach To Reed-Solomon FEC Codes For RTP-Multimedia Stream Protection

This paper presents an alternative Forward Error Correction scheme, based on Reed-Solomon codes, with the aim of protecting the transmission of RTP-multimedia streams: the inter-packet symbol approach. This scheme is based on an alternative bit structure that allocates each symbol of the Reed-Solomon code in several RTP-media packets. This characteristic permits to exploit better the recovery capability of Reed-Solomon codes against bursty packet losses. The performance of our approach has been studied in terms of encoding/decoding time versus recovery capability, and compared with other proposed schemes in the literature. The theoretical analysis has shown that our approach allows the use of a lower size of the Galois Fields compared to other solutions. This lower size results in a decrease of the required encoding/decoding time while keeping a comparable recovery capability. Finally, experimental results have been carried out to assess the performance of our approach compared to other schemes in a simulated environment, where models for wireless and wireline channels have been considered.

Sistema de instrumentação e controle para células a combustível

Este trabajo presenta un estudio sobre el funcionamiento y aplicaciones de las células de combustible de membrana tipo PEM, o de intercambio de protones, alimentadas con hidrógeno puro y oxigeno obtenido de aire comprimido. Una vez evaluado el proceso de dichas células y las variables que intervienen en el mismo, como presión, humedad y temperatura, se presenta una variedad de métodos para la instrumentación de tales variables así como métodos y sistemas para la estabilidad y control de las mismas, en torno a los valores óptimos para una mayor eficacia en el proceso. Tomando como variable principal a controlar la temperatura del proceso, y exponiendo los valores concretos en torno a 80 grados centígrados entre los que debe situarse, es realizado un modelo del proceso de calentamiento y evolución de la temperatura en función de la potencia del calentador resistivo en el dominio de la frecuencia compleja, y a su vez implementado un sistema de medición mediante sensores termopar de tipo K de respuesta casi lineal. La señal medida por los sensores es amplificada de manera diferencial mediante amplificadores de instrumentación INA2126, y es desarrollado un algoritmo de corrección de error de unión fría (error producido por la inclusión de nuevos metales del conector en el efecto termopar). Son incluidos los datos de test referentes al sistema de medición de temperatura , incluyendo las desviaciones o error respecto a los valores ideales de medida. Para la adquisición de datos y implementación de algoritmos de control, es utilizado un PC con el software Labview de National Instruments, que permite una programación intuitiva, versátil y visual, y poder realizar interfaces de usuario gráficas simples. La conexión entre el hardware de instrumentación y control de la célula y el PC se realiza mediante un interface de adquisición de datos USB NI 6800 que cuenta con un amplio número de salidas y entradas analógicas. Una vez digitalizadas las muestras de la señal medida, y corregido el error de unión fría anteriormente apuntado, es implementado en dicho software un controlador de tipo PID ( proporcional-integral-derivativo) , que se presenta como uno de los métodos más adecuados por su simplicidad de programación y su eficacia para el control de este tipo de variables. Para la evaluación del comportamiento del sistema son expuestas simulaciones mediante el software Matlab y Simulink determinando por tanto las mejores estrategias para desarrollar el control PID, así como los posibles resultados del proceso. En cuanto al sistema de calentamiento de los fluidos, es empleado un elemento resistor calentador, cuya potencia es controlada mediante un circuito electrónico compuesto por un detector de cruce por cero de la onda AC de alimentación y un sistema formado por un elemento TRIAC y su circuito de accionamiento. De manera análoga se expone el sistema de instrumentación para la presión de los gases en el circuito, variable que oscila en valores próximos a 3 atmosferas, para ello es empleado un sensor de presión con salida en corriente mediante bucle 4-20 mA, y un convertidor simple corriente a tensión para la entrada al sistema de adquisición de datos. Consecuentemente se presenta el esquema y componentes necesarios para la canalización, calentamiento y humidificación de los gases empleados en el proceso así como la situación de los sensores y actuadores. Por último el trabajo expone la relación de algoritmos desarrollados y un apéndice con información relativa al software Labview. ABTRACT This document presents a study about the operation and applications of PEM fuel cells (Proton exchange membrane fuel cells), fed with pure hydrogen and oxygen obtained from compressed air. Having evaluated the process of these cells and the variables involved on it, such as pressure, humidity and temperature, there is a variety of methods for implementing their control and to set up them around optimal values for greater efficiency in the process. Taking as primary process variable the temperature, and exposing its correct values around 80 degrees centigrade, between which must be placed, is carried out a model of the heating process and the temperature evolution related with the resistive heater power on the complex frequency domain, and is implemented a measuring system with thermocouple sensor type K performing a almost linear response. The differential signal measured by the sensor is amplified through INA2126 instrumentation amplifiers, and is developed a cold junction error correction algorithm (error produced by the inclusion of additional metals of connectors on the thermocouple effect). Data from the test concerning the temperature measurement system are included , including deviations or error regarding the ideal values of measurement. For data acquisition and implementation of control algorithms, is used a PC with LabVIEW software from National Instruments, which makes programming intuitive, versatile, visual, and useful to perform simple user interfaces. The connection between the instrumentation and control hardware of the cell and the PC interface is via a USB data acquisition NI 6800 that has a large number of analog inputs and outputs. Once stored the samples of the measured signal, and correct the error noted above junction, is implemented a software controller PID (proportional-integral-derivative), which is presented as one of the best methods for their programming simplicity and effectiveness for the control of such variables. To evaluate the performance of the system are presented simulations using Matlab and Simulink software thereby determining the best strategies to develop PID control, and possible outcomes of the process. As fluid heating system, is employed a heater resistor element whose power is controlled by an electronic circuit comprising a zero crossing detector of the AC power wave and a system consisting of a Triac and its drive circuit. As made with temperature variable it is developed an instrumentation system for gas pressure in the circuit, variable ranging in values around 3 atmospheres, it is employed a pressure sensor with a current output via 4-20 mA loop, and a single current to voltage converter to adequate the input to the data acquisition system. Consequently is developed the scheme and components needed for circulation, heating and humidification of the gases used in the process as well as the location of sensors and actuators. Finally the document presents the list of algorithms and an appendix with information about Labview software.

Adaptive protection scheme for MVC-encoded stereoscopic video streaming in IP-based networks

We present an adaptive unequal error protection (UEP) strategy built on the 1-D interleaved parity Application Layer Forward Error Correction (AL-FEC) code for protecting the transmission of stereoscopic 3D video content encoded with Multiview Video Coding (MVC) through IP-based networks. Our scheme targets the minimization of quality degradation produced by packet losses during video transmission in time-sensitive application scenarios. To that end, based on a novel packet-level distortion model, it selects in real time the most suitable packets within each Group of Pictures (GOP) to be protected and the most convenient FEC technique parameters, i.e., the size of the FEC generator matrix. In order to make these decisions, it considers the relevance of the packet, the behavior of the channel, and the available bitrate for protection purposes. Simulation results validate both the distortion model introduced to estimate the importance of packets and the optimization of the FEC technique parameter values.

A multi-scale analysis of transforming agricultural markets in the context of globalization: implications for natural resources, food prices and rural poverty in Latin America

Vivimos una época en la que el mundo se transforma aceleradamente. La globalización está siguiendo un curso imparable, la población mundial así como la población urbana siguen creciendo, y en los países emergentes los ingresos promedios aumentan, resultando en un cambio también acelerado de las dietas y hábitos alimentarios. En conjunto esos factores están causando un aumento fundamental de la demanda de alimentos. Junto con la apertura de los mercados agrícolas, estos procesos han provocado un crecimiento del comercio internacional de alimentos durante la última década. Dado que muchos países de América Latina están dotados de abundancia de recursos naturales, estas tendencias han producido un crecimiento rápido de las exportaciones de bienes primarios desde América Latina al resto del mundo. En sólo 30 años la participación en el mercado agrícola de América Latina casi se ha duplicado, desde 10% en 1980 a 18% en 2010. Este aumento del comercio agrícola ha dado lugar a un debate sobre una serie de cuestiones cruciales relacionadas con los impactos del comercio en la seguridad alimentaria mundial, en el medio ambiente o en la reducción de la pobreza rural en países en desarrollo. Esta tesis aplica un marco integrado para analizar varios impactos relacionados con la transformación de los mercados agrícolas y los mercados rurales debidos a la globalización y, en particular, al progresivo aumento del comercio internacional. En concreto, la tesis aborda los siguientes temas: En primer lugar, la producción mundial de alimentos tendrá que aumentar considerablemente para poder satisfacer la demanda de una población mundial de 9000 millones personas en 2050, lo cual plantea grandes desafíos sobre los sistemas de la producción de alimentos. Alcanzar este logro, sin comprometer la integridad del medio ambiente en regiones exportadoras, es un reto aún mayor. En este contexto, la tesis analiza los efectos de la liberalización del comercio mundial, considerando distintas tecnologías de producción agraria, sobre unos indicadores de seguridad alimentaria en diferentes regiones del mundo y sobre distintos indicadores ambientales, teniendo en cuenta escalas diferentes en América Latina y el Caribe. La tesis utiliza el modelo “International Model for Policy Analysis of Agricultural Commodities and Trade (IMPACT)” – un modelo dinámico de equilibrio parcial del sector agrícola a escala global – para modelar la apertura de los mercados agrícolas así como diferentes escenarios de la producción hasta el año 2050. Los resultados del modelo están vinculados a modelos biofísicos para poder evaluar los cambios en la huella hídrica y la calidad del agua, así como para cuantificar los impactos del cambio en el uso del suelo sobre la biodiversidad y los stocks de carbono en 2050. Los resultados indican que la apertura de los mercados agrícolas es muy importante para mejorar la seguridad alimentaria a nivel mundial, sin embargo, produce también presiones ambientales indeseables en algunas regiones de América Latina. Contrastando dos escenarios que consideran distintas modos de producción, la expansión de la tierra agrícola frente a un escenario de la producción más intensiva, se demuestra que las mejoras de productividad son generalmente superiores a la expansión de las tierras agrícolas, desde un punto de vista económico e ambiental. En cambio, los escenarios de intensificación sostenible no sólo hacen posible una mayor producción de alimentos, sino que también generan menos impactos medioambientales que los otros escenarios futuros en todas sus dimensiones: biodiversidad, carbono, emisiones de nitratos y uso del agua. El análisis muestra que hay un “trade-off” entre el objetivo de alcanzar la sostenibilidad ambiental y el objetivo de la seguridad alimentaria, independiente del manejo agrícola en el futuro. En segundo lugar, a la luz de la reciente crisis de los precios de alimentos en los años 2007/08, la tesis analiza los impactos de la apertura de los mercados agrícolas en la transmisión de precios de los alimentos en seis países de América Latina: Argentina, Brasil, Chile, Colombia, México y el Perú. Para identificar las posibles relaciones de cointegración entre los índices de precios al consumidor de alimentos y los índices de precios de agrarios internacionales, sujetos a diferentes grados de apertura de mercados agrícolas en los seis países de América Latina, se utiliza un modelo simple de corrección de error (single equation error correction). Los resultados indican que la integración global de los mercados agrícolas ha dado lugar a diferentes tasas de transmisión de precios en los países investigados. Sobre todo en el corto plazo, las tasas de transmisión dependen del grado de apertura comercial, mientras que en el largo plazo las tasas de transmisión son elevadas, pero en gran medida independientes del régimen de comercio. Por lo tanto, durante un período de shocks de precios mundiales una mayor apertura del comercio trae consigo más inestabilidad de los precios domésticos a corto plazo y la resultante persistencia en el largo plazo. Sin embargo, estos resultados no verifican necesariamente la utilidad de las políticas comerciales, aplicadas frecuentemente por los gobiernos para amortiguar los shocks de precios. Primero, porque existe un riesgo considerable de volatilidad de los precios debido a cambios bruscos de la oferta nacional si se promueve la autosuficiencia en el país; y segundo, la política de proteccionismo asume el riesgo de excluir el país de participar en las cadenas de suministro de alto valor del sector agrícola, y por lo tanto esa política podría obstaculizar el desarrollo económico. Sin embargo, es indispensable establecer políticas efectivas para reducir la vulnerabilidad de los hogares a los aumentos repentinos de precios de alimentos, lo cual requiere una planificación gubernamental precisa con el presupuesto requerido disponible. En tercer lugar, la globalización afecta a la estructura de una economía y, por medios distintos, la distribución de los ingreso en un país. Perú sirve como ejemplo para investigar más profundamente las cuestiones relacionadas con los cambios en la distribución de los ingresos en zonas rurales. Perú, que es un país que está cada vez más integrado en los mercados mundiales, consiguió importantes descensos en la pobreza extrema en sus zonas rurales, pero a la vez adolece de alta incidencia de pobreza moderada y de desigualdad de los ingresos en zonas rural al menos durante el periodo comprendido entre 2004 y 2012. Esta parte de la tesis tiene como objetivo identificar las fuerzas impulsoras detrás de estas dinámicas en el Perú mediante el uso de un modelo de microsimulación basado en modelos de generación de ingresos aplicado a nivel los hogares rurales. Los resultados indican que la fuerza principal detrás de la reducción de la pobreza ha sido el crecimiento económico general de la economía, debido a las condiciones macroeconómicas favorables durante el periodo de estudio. Estos efectos de crecimiento beneficiaron a casi todos los sectores rurales, y dieron lugar a la disminución de la pobreza rural extrema, especialmente entre los agricultores de papas y de maíz. En parte, estos agricultores probablemente se beneficiaron de la apertura de los mercados agrícolas, que es lo que podría haber provocado un aumento de los precios al productor en tiempos de altos precios mundiales de los alimentos. Sin embargo, los resultados también sugieren que para una gran parte de la población más pobre existían barreras de entrada a la hora de poder participar en el empleo asalariado fuera de la agricultura o en la producción de cultivos de alto valor. Esto podría explicarse por la falta de acceso a unos activos importantes: por ejemplo, el nivel de educación de los pobres era apenas mejor en 2012 que en 2004; y también las dotaciones de tierra y de mano de obra, sobre todo de los productores pobres de maíz y patata, disminuyeron entre 2004 y 2012. Esto lleva a la conclusión de que aún hay margen para aplicar políticas para facilitar el acceso a estos activos, que podría contribuir a la erradicación de la pobreza rural. La tesis concluye que el comercio agrícola puede ser un importante medio para abastecer una población mundial creciente y más rica con una cantidad suficiente de calorías. Para evitar adversos efectos ambientales e impactos negativos para los consumidores y de los productores pobres, el enfoque debe centrarse en las mejoras de la productividad agrícola, teniendo en cuenta los límites ambientales y ser socialmente inclusivo. En este sentido, será indispensable seguir desarrollando soluciones tecnológicas que garanticen prácticas de producción agrícola minimizando el uso de recursos naturales. Además, para los pequeños pobres agricultores será fundamental eliminar las barreras de entrada a los mercados de exportación que podría tener efectos indirectos favorables a través de la adopción de nuevas tecnologías alcanzables a través de mercados internacionales. ABSTRACT The world is in a state of rapid transition. Ongoing globalization, population growth, rising living standards and increasing urbanization, accompanied by changing dietary patterns throughout the world, are increasing the demand for food. Together with more open trade regimes, this has triggered growing international agricultural trade during the last decade. For many Latin American countries, which are gifted with relative natural resource abundance, these trends have fueled rapid export growth of primary goods. In just 30 years, the Latin American agricultural market share has almost doubled from 10% in 1980 to 18% in 2010. These market developments have given rise to a debate around a number of crucial issues related to the role of agricultural trade for global food security, for the environment or for poverty reduction in developing countries. This thesis uses an integrated framework to analyze a broad array of possible impacts related to transforming agricultural and rural markets in light of globalization, and in particular of increasing trade activity. Specifically, the following issues are approached: First, global food production will have to rise substantially by the year 2050 to meet effective demand of a nine billion people world population which poses major challenges to food production systems. Doing so without compromising environmental integrity in exporting regions is an even greater challenge. In this context, the thesis explores the effects of future global trade liberalization on food security indicators in different world regions and on a variety of environmental indicators at different scales in Latin America and the Caribbean, in due consideration of different future agricultural production practices. The International Model for Policy Analysis of Agricultural Commodities and Trade (IMPACT) –a global dynamic partial equilibrium model of the agricultural sector developed by the International Food Policy Research Institute (IFPRI)– is applied to run different future production scenarios, and agricultural trade regimes out to 2050. Model results are linked to biophysical models, used to assess changes in water footprints and water quality, as well as impacts on biodiversity and carbon stocks from land use change by 2050. Results indicate that further trade liberalization is crucial for improving food security globally, but that it would also lead to more environmental pressures in some regions across Latin America. Contrasting land expansion versus more intensified agriculture shows that productivity improvements are generally superior to agricultural land expansion, from an economic and environmental point of view. Most promising for achieving food security and environmental goals, in equal measure, is the sustainable intensification scenario. However, the analysis shows that there are trade-offs between environmental and food security goals for all agricultural development paths. Second, in light of the recent food price crisis of 2007/08, the thesis looks at the impacts of increasing agricultural market integration on food price transmission from global to domestic markets in six Latin American countries, namely Argentina, Brazil, Chile, Colombia, Mexico and Peru. To identify possible cointegrating relationships between the domestic food consumer price indices and world food price levels, subject to different degrees of agricultural market integration in the six Latin American countries, a single equation error correction model is used. Results suggest that global agricultural market integration has led to different levels of price path-through in the studied countries. Especially in the short-run, transmission rates depend on the degree of trade openness, while in the long-run transmission rates are high, but largely independent of the country-specific trade regime. Hence, under world price shocks more trade openness brings with it more price instability in the short-term and the resulting persistence in the long-term. However, these findings do not necessarily verify the usefulness of trade policies, often applied by governments to buffer such price shocks. First, because there is a considerable risk of price volatility due to domestic supply shocks if self-sufficiency is promoted. Second, protectionism bears the risk of excluding a country from participating in beneficial high-value agricultural supply chains, thereby hampering economic development. Nevertheless, to reduce households’ vulnerability to sudden and large increases of food prices, effective policies to buffer food price shocks should be put in place, but must be carefully planned with the required budget readily available. Third, globalization affects the structure of an economy and, by different means, the distribution of income in a country. Peru serves as an example to dive deeper into questions related to changes in the income distribution in rural areas. Peru, a country being increasingly integrated into global food markets, experienced large drops in extreme rural poverty, but persistently high rates of moderate rural poverty and rural income inequality between 2004 and 2012. The thesis aims at disentangling the driving forces behind these dynamics by using a microsimulation model based on rural household income generation models. Results provide evidence that the main force behind poverty reduction was overall economic growth of the economy due to generally favorable macroeconomic market conditions. These growth effects benefited almost all rural sectors, and led to declines in extreme rural poverty, especially among potato and maize farmers. In part, these farmers probably benefited from policy changes towards more open trade regimes and the resulting higher producer prices in times of elevated global food price levels. However, the results also suggest that entry barriers existed for the poorer part of the population to participate in well-paid wage-employment outside of agriculture or in high-value crop production. This could be explained by a lack of sufficient access to important rural assets. For example, poor people’s educational attainment was hardly better in 2012 than in 2004. Also land and labor endowments, especially of (poor) maize and potato growers, rather decreased than increased over time. This leads to the conclusion that there is still scope for policy action to facilitate access to these assets, which could contribute to the eradication of rural poverty. The thesis concludes that agricultural trade can be one important means to provide a growing and richer world population with sufficient amounts of calories. To avoid adverse environmental effects and negative impacts for poor food consumers and producers, the focus should lie on agricultural productivity improvements, considering environmental limits and be socially inclusive. In this sense, it will be crucial to further develop technological solutions that guarantee resource-sparing agricultural production practices, and to remove entry barriers for small poor farmers to export markets which might allow for technological spill-over effects from high-value global agricultural supply chains.

The asymptotic distribution of canonical correlations and vectors in higher-order cointegrated models

The study of the large-sample distribution of the canonical correlations and variates in cointegrated models is extended from the first-order autoregression model to autoregression of any (finite) order. The cointegrated process considered here is nonstationary in some dimensions and stationary in some other directions, but the first difference (the “error-correction form”) is stationary. The asymptotic distribution of the canonical correlations between the first differences and the predictor variables as well as the corresponding canonical variables is obtained under the assumption that the process is Gaussian. The method of analysis is similar to that used for the first-order process.

Choques de oferta e política monetária na economia brasileira: Uma análise do impacto dos preços das commodities na inflação entre 2002 e 2014

Há mais de uma década o controle dos níveis de preço na economia brasileira é realizado dentro do escopo do Regime de Metas de Inflação, que utiliza modelos macroeconômicos como instrumentos para guiar as tomadas de decisões sobre política monetária. Após um período de relativo êxito (2006 - 2009), nos últimos anos apesar dos esforços das autoridades monetárias na aplicação das políticas de contenção da inflação, seguindo os mandamentos do regime de metas, esta tem se mostrado resistente, provocando um debate em torno de fatores que podem estar ocasionando tal comportamento. Na literatura internacional, alguns trabalhos têm creditado aos choques de oferta, especialmente aos desencadeados pela variação dos preços das commodities, uma participação significativa na inflação, principalmente em economias onde os produtos primários figuram como maioria na pauta exportadora. Na literatura nacional, já existem alguns trabalhos que apontam nesta mesma direção. Sendo assim, buscou-se, como objetivo principal para o presente estudo, avaliar como os choques de oferta, mais especificamente os choques originados pelos preços das commodities, têm impactado na inflação brasileira e como e com que eficiência a política monetária do país tem reagido. Para tanto, foi estimado um modelo semiestrutural contendo uma curva de Phillips, uma curva IS e duas versões da Função de Reação do Banco Central, de modo a verificar como as decisões de política monetária são tomadas. O método de estimação empregado foi o de Autorregressão Vetorial com Correção de Erro (VEC) na sua versão estrutural, que permite uma avaliação dinâmica das relações de interdependência entre as variáveis do modelo proposto. Por meio da estimação da curva de Phillips foi possível observar que os choques de oferta, tanto das commodities como da produtividade do trabalho e do câmbio, não impactam a inflação imediatamente, porém sua relevância é crescente ao longo do tempo chegando a prevalecer sobre o efeito autorregressivo (indexação) verificado. Estes choques também se apresentaram importantes para o comportamento da expectativa de inflação, produzindo assim, uma indicação de que seus impactos tendem a se espalhar pelos demais setores da economia. Através dos resultados da curva IS constatou-se a forte inter-relação entre o hiato do produto e a taxa de juros, o que indica que a política monetária, por meio da fixação de tal taxa, influencia fortemente a demanda agregada. Já por meio da estimação da primeira função de reação, foi possível perceber que há uma relação contemporânea relevante entre o desvio da expectativa de inflação em relação à meta e a taxa Selic, ao passo que a relação contemporânea do hiato do produto sobre a taxa Selic se mostrou pequena. Por fim, os resultados obtidos com a segunda função de reação, confirmaram que as autoridades monetárias reagem mais fortemente aos sinais inflacionários da economia do que às movimentações que acontecem na atividade econômica e mostraram que uma elevação nos preços das commodities, em si, não provoca diretamente um aumento na taxa básica de juros da economia.

Integração espacial e eficiência do hedge no mercado sul-americano de soja: comparações entre Brasil e Argentina

Este trabalho tem por objetivo analisar o potencial de desenvolvimento do contrato futuro de soja no Brasil, por meio da atração de hedgers brasileiros e argentinos. Para tanto, faz-se necessário conhecer os padrões das conexões dos preços entre as regiões analisadas. Nesse sentido, o Capítulo 2 investigou a integração espacial do mercado físico de soja no Brasil (região de Sorriso, no Mato Grosso) e na Argentina (região de Rosário, na província de Santa Fé) e comparou ao grau de integração com os Estados Unidos. Foram empregados modelos autorregressivos com threshold (TAR e M-TAR) e modelos vetoriais de correção de erros, lineares e com threshold (VECM e TVECM), visando captar os efeitos dos custos de transação sobre a integração espacial entre essas regiões. Os resultados apontaram que o mercado de soja brasileiro, argentino e norte-americano são integrados, mesmo considerando-se os efeitos dos custos de transação sobre as decisões de arbitragem espacial. Consequentemente, os preços da soja no mercado internacional tendem a refletir o comportamento dos principais países produtores. Apesar disso, o tempo de transmissão de choques de preços mostrou-se, em geral, menor entre Brasil e Argentina, refletindo a proximidade geográfica. Apontou-se também o comportamento assimétrico da transmissão desses choques, uma vez que choques positivos sobre a relação de longo prazo tendem a ser mais persistentes que os negativos. Se o contrato futuro reflete o comportamento de preços de um único mercado físico integrado, deve-se então esperar que o risco de base seja menor para este mercado e, portanto, que a eficiência do hedge seja maior. No Capítulo 3, o objetivo se constituiu em verificar se há maior eficiência no hedge realizado com os contratos com vencimento em março na CME em relação à BM&FBOVESPA, considerando-se as relações de longo prazo entre os preços à vista e futuros, bem como a dinâmica na estrutura de covariâncias condicionais, por meio de modelos de correção de erros (VECM) e modelos de heterocedasticidade condicional generalizados com correlação condicional dinâmica (DCC-GARCH). Os resultados mostraram que, em geral, a introdução da dinâmica nos segundos momentos das distribuições dos erros tende a aumentar a eficiência da estratégia de hedge. Além disso, foi observado que os produtores de Sorriso tendem a obter melhores condições de hedge na CME, embora haja redução da variância ao se operar na BM&FBOVESPA. Por outro lado, a eficiência do hedge para os produtores de Rosário foi significativamente maior na BM&FBOVESPA do que na CME, o que indica o mercado potencial de hedgers argentinos para negociar o contrato futuro de soja local no Brasil.

Un análisis del comportamiento de la demanda turística en España: aplicación con técnicas de cointegración

En este trabajo se analiza la relación entre la evolución de la demanda del conjunto de la economía española frente a la de los principales componentes de gasto turístico, así como el grado de dependencia respecto al comportamiento económico de los principales países emisores de turistas hacia España. Para investigar la existencia de una relación entre estas variables se explican las principales técnicas de cointegración, que en caso de detectar dicha vinculación permiten estimar modelos de corrección del error. En concreto, en el trabajo se evalúa el comportamiento de estas variables a través de test de raíces unitarias para poder desarrollar modelos que permitan detectar con mayor precisión estas relaciones.

Ownership and Investment Behaviour in Transition Countries: A Case Study of Collective and Corporate Farms in the Czech Republic. Factor Markets Working Paper No. 17, February 2012

Cooperative and corporate farms have retained an important role for agricultural production in many transition countries of Central and Eastern Europe. Despite this importance, these farms' ownership structure, and particularly the ownership's effect on their investment activity, which is vital for efficient restructuring and the sector's future development, are still not well understood. This paper explores the ownership-investment relationship using data on Czech farms from 1997 to 2008. We allow for ownership-specific variability in farm investment behaviour analyzed by utilizing an error-correction accelerator model. Empirical results suggest significant differences in the level of investment activity, responsiveness to market signals, investment lumpiness, as well as investment sensitivity to financial variables among farms with different ownership characteristics. These differences imply that the internal structure of the Czech cooperative and corporate farms will be developing in the direction of a decreasing number of owners and an increasing ownership concentration.

Premature Sister Chromatid Separation Is Poorly Detected by the Spindle Assembly Checkpoint as a Result of System-Level Feedback

Sister chromatid cohesion, mediated by the cohesin complex, is essential for faithful mitosis. Nevertheless, evidence suggests that the surveillance mechanism that governs mitotic fidelity, the spindle assembly checkpoint (SAC), is not robust enough to halt cell division when cohesion loss occurs prematurely. The mechanism behind this poor response is not properly understood. Using developing Drosophila brains, we show that full sister chromatid separation elicits a weak checkpoint response resulting in abnormal mitotic exit after a short delay. Quantitative live-cell imaging approaches combined with mathematical modeling indicate that weak SAC activation upon cohesion loss is caused by weak signal generation. This is further attenuated by several feedback loops in the mitotic signaling network. We propose that multiple feedback loops involving cyclin-dependent kinase 1 (Cdk1) gradually impair error-correction efficiency and accelerate mitotic exit upon premature loss of cohesion. Our findings explain how cohesion defects may escape SAC surveillance.

Dynamical Scenarios for Chromosome Bi-orientation

Chromosome bi-orientation at the metaphase spindle is essential for precise segregation of the genetic material. The process is error-prone, and error-correction mechanisms exist to switch misaligned chromosomes to the correct, bi-oriented configuration. Here, we analyze several possible dynamical scenarios to explore how cells might achieve correct bi-orientation in an efficient and robust manner. We first illustrate that tension-mediated feedback between the sister kinetochores can give rise to a bistable switch, which allows robust distinction between a loose attachment with low tension and a strong attachment with high tension. However, this mechanism has difficulties in explaining how bi-orientation is initiated starting from unattached kinetochores. We propose four possible mechanisms to overcome this problem (exploiting molecular noise; allowing an efficient attachment of kinetochores already in the absence of tension; a trial-and-error oscillation; and a stochastic bistable switch), and assess their impact on the bi-orientation process. Based on our results and supported by experimental data, we put forward a trial-and-error oscillation and a stochastic bistable switch as two elegant mechanisms with the potential to promote bi-orientation both efficiently and robustly.

Quantum dynamics as a physical resource

How useful is a quantum dynamical operation for quantum information processing? Motivated by this question, we investigate several strength measures quantifying the resources intrinsic to a quantum operation. We develop a general theory of such strength measures, based on axiomatic considerations independent of state-based resources. The power of this theory is demonstrated with applications to quantum communication complexity, quantum computational complexity, and entanglement generation by unitary operations.

Quantum states far from the energy eigenstates of any local hamiltonian

What quantum states are possible energy eigenstates of a many-body Hamiltonian? Suppose the Hamiltonian is nontrivial, i.e., not a multiple of the identity, and L local, in the sense of containing interaction terms involving at most L bodies, for some fixed L. We construct quantum states psi which are far away from all the eigenstates E of any nontrivial L-local Hamiltonian, in the sense that parallel topsi-Eparallel to is greater than some constant lower bound, independent of the form of the Hamiltonian.