Asymmetries in Business Cycles

Esta disertación busca estudiar los mecanismos de transmisión que vinculan el comportamiento de agentes y firmas con las asimetrías presentes en los ciclos económicos. Para lograr esto, se construyeron tres modelos DSGE. El en primer capítulo, el supuesto de función cuadrática simétrica de ajuste de la inversión fue removido, y el modelo canónico RBC fue reformulado suponiendo que des-invertir es más costoso que invertir una unidad de capital físico. En el segundo capítulo, la contribución más importante de esta disertación es presentada: la construcción de una función de utilidad general que anida aversión a la pérdida, aversión al riesgo y formación de hábitos, por medio de una función de transición suave. La razón para hacerlo así es el hecho de que los individuos son aversos a la pérdidad en recesiones, y son aversos al riesgo en auges. En el tercer capítulo, las asimetrías en los ciclos económicos son analizadas junto con ajuste asimétrico en precios y salarios en un contexto neokeynesiano, con el fin de encontrar una explicación teórica de la bien documentada asimetría presente en la Curva de Phillips.

A DSGE model with loss aversion in consumption and leisure: an explanation for business cycles asymmetries

In this chapter, an asymmetric DSGE model is built in order to account for asymmetries in business cycles. One of the most important contributions of this work is the construction of a general utility function which nests loss aversion, risk aversion and habits formation by means of a smooth transition function. The main idea behind this asymmetric utility function is that under recession the agents over-smooth consumption and leisure choices in order to prevent a huge deviation of them from the reference level of the utility; while under boom, the agents simply smooth consumption and leisure, but trying to be as far as possible from the reference level of utility. The simulations of this model by means of Perturbations Method show that it is possible to reproduce asymmetrical business cycles where recession (on shock) are stronger than booms and booms are more long-lasting than recession. One additional and unexpected result is a downward stickiness displayed by real wages. As a consequence of this, there is a more persistent fall in employment in recession than in boom. Thus, the model reproduces not only asymmetrical business cycles but also real stickiness and hysteresis.

Jorgenrique Adoum: el sentido de la lucha en exilio (In Memoriam)

El presente ensayo de Gabriela Chauvin propone, a la vez que un tributo al poeta Jorgenrique Adoum –fallecido en julio de 2009–, un acercamiento a su libro Prepoemas en posespañol. Es una reflexión sobre la relación del exilio con la memoria, la muerte y la resistencia, tomando como eje dos poemas: «Good-Bye Lola» y «Epitafio del extranjero vivo». Desde un punto de vista sensible y particular se analiza el significado de la lucha en el exilio, si la mayoría de las veces ésta es el eslabón o el requisito de la derrota o la victoria, en la poesía de Adoum la lucha es la materia constante de la que están hechos los domingos y sus muertes: si hay una manera de no llegar a ninguna parte es manteniéndose en un combate inmóvil, sin descansos ni victorias ni derrotas, deambulando en el no-lugar que es el exilio. De esta manera, el epitafio se convierte en la metáfora de la lucha perenne entre la muerte y el nombre, entre la existencia a través del lenguaje y la tumba que la soporta. Prepoemas en posespañol se incluyó en el libro Informe personal sobre la situación, y se publicó por primera vez en 1973.

Water management in Minoan Crete, Greece: the two cisterns of one Middle Bronze Age settlement

The two earliest structures of Minoan Crete that may be considered as large cisterns were both built in the first half of the second millennium BC (the time of the first Minoan palaces) at Myrtos-Pyrgos (lerapetra). A considerable feat of engineering and social management, they remain a most unusual attribute of a Minoan settlement, all the more so since the Myrtos river is/was available to supply water at the foot of the hill of Pyrgos. This paper presents these cisterns, briefly, in terms of geology and technology, the history of their use and re-use, and their relevance to understanding the culture and society (at local and regional levels) of Crete in the time of the Old Palaces, as well as their possible contribution to the political and military history of the period. I then review possible precursors of, and architectural parallels to, the Pyrgos cisterns at Knossos, Malia and Phaistos (none of which has been proved to be a cistern), and the later history of cisterns in Bronze Age Crete. Since only three others are known (at Archanes, Zakro and Tylissos, of Late Bronze Age date), the two cisterns of Myrtos-Pyrgos are an important addition to our still rudimentary knowledge of how the Bronze Age Cretans managed their water supplies.

Threshold-free object and ground point separation in LIDAR data

Light Detection And Ranging (LIDAR) is an important modality in terrain and land surveying for many environmental, engineering and civil applications. This paper presents the framework for a recently developed unsupervised classification algorithm called Skewness Balancing for object and ground point separation in airborne LIDAR data. The main advantages of the algorithm are threshold-freedom and independence from LIDAR data format and resolution, while preserving object and terrain details. The framework for Skewness Balancing has been built in this contribution with a prediction model in which unknown LIDAR tiles can be categorised as “hilly” or “moderate” terrains. Accuracy assessment of the model is carried out using cross-validation with an overall accuracy of 95%. An extension to the algorithm is developed to address the overclassification issue for hilly terrain. For moderate terrain, the results show that from the classified tiles detached objects (buildings and vegetation) and attached objects (bridges and motorway junctions) are separated from bare earth (ground, roads and yards) which makes Skewness Balancing ideal to be integrated into geographic information system (GIS) software packages.

Use of the statistical properties of the wavelet-transform coefficients for optimization of integration time in Fourier transform spectrometry

We show that an analysis of the mean and variance of discrete wavelet coefficients of coaveraged time-domain interferograms can be used as a specification for determining when to stop coaveraging. We also show that, if a prediction model built in the wavelet domain is used to determine the composition of unknown samples, a stopping criterion for the coaveraging process can be developed with respect to the uncertainty tolerated in the prediction.

Business parks and town centre workplaces in England: a comparative analysis of commuting-related energy consumption

To fully appreciate the environmental impact of a workplace the transport-related carbon dioxide (CO2) emissions resulting from its location should be considered in addition to the emissions that result from the occupation of the building itself. Since the first one was built in the early 1980s, business parks have become a significant workplace location for service-sector workers; a sector of the economy that grew rapidly at that time as the UK manufacturing output declined and the employment base shifted to retail services and de-regulated financial services. This paper examines the transport-related CO2 emissions associated with these workplace locations in comparison to town and city centre locations. Using 2001 Census Special Workplace Statistics which record people’s residence, usual workplace and mode of transport between them, distance travelled and mode of travel were calculated for a sample of city centre and out-of-town office locations. The results reveal the extent of the difference between transport-related CO2 emitted by commuters to out-of-town and city centre locations. The implications that these findings have for monitoring the environmental performance of workplaces are discussed.

The Patriarchal Palace at Constantinople in the seventh century: locating the Thomaites and the Makron

New archaeological evidence suggests that the important patriarchal buildings called the Thomaites and Makron were immediately south-west of the sixth-century church of Hagia Sophia, rather than to its north-east as usually supposed. These structures were built in the sixth-century, suggesting only limited rebuilding of the Patriarchate by patriarch Thomas in the early seventh century.

Predicted signatures of pulsed reconnection in ESR data

Early in 1996, the latest of the European incoherent-scatter (EISCAT) radars came into operation on the Svalbard islands. The EISCAT Svalbard Radar (ESR) has been built in order to study the ionosphere in the northern polar cap and in particular, the dayside cusp. Conditions in the upper atmosphere in the cusp region are complex, with magnetosheath plasma cascading freely into the atmosphere along open magnetic field lines as a result of magnetic reconnection at the dayside magnetopause. A model has been developed to predict the effects of pulsed reconnection and the subsequent cusp precipitation in the ionosphere. Using this model we have successfully recreated some of the major features seen in photometer and satellite data within the cusp. In this paper, the work is extended to predict the signatures of pulsed reconnection in ESR data when the radar is pointed along the magnetic field. It is expected that enhancements in both electron concentration and electron temperature will be observed. Whether these enhancements are continuous in time or occur as a series of separate events is shown to depend critically on where the open/closed field-line boundary is with respect to the radar. This is shown to be particularly true when reconnection pulses are superposed on a steady background rate.

The role of Planning Aid England in supporting communities’ engagement in planning

In considering the position of community engagement within planning in a time of neo-liberalism and a context of ‘neo-communitarian localism’ (cf. Jessop, 2002; DeFilippis, 2004), this paper reviews the role and relevance of Planning Aid in terms of its performance and aspirations in guiding and transforming planning practice (Friedmann, 1973; 1987; 2011) since its inception in 1973. In doing this we reflect on the critiques of Planning Aid performance provided by Allmendinger (2004) and bring the account up-to-date following on from past considerations (e.g. Bidwell and Edgar, 1982; Thomas, 1992; Brownill and Carpenter, 2007a,b; Carpenter and Brownill, 2008) and prompted by the 35 years since the University of Reading produced the first published work reviewing Planning Aid (Curtis and Edwards, 1980). Our paper is timely given renewed attacks on planning, the implementation of a form of localism and reductions in funding for planning in a time of austerity. Our view is that the need for forms of ‘neo-advocacy’ planning and community development are perhaps even more necessary now, given the continuing under-representation of lower income groups, minority groups and to allow for the expression of alternative planning futures. Thus further consideration of how to ensure that Planning Aid functions are sustained and understood requires the attention of policymakers and the planning profession more widely.

Reverse knowledge transfer: evidence from General Motors in the UK and Poland

This paper explores the concept of a reverse diffusion of knowledge, that is, the transfer flowing from a company’s subsidiary to its home plant. The article presents the empirical evidence gathered in General Motors UK and Poland, where the reverse diffusion of a concept of the built-in quality took place. Lastly, the implications of our findings for future research are discussed.

Resilience in crisis reconsidered: the need for values against relativist ethics

The need for a reconsideration of resilience from both a positive and a normative point of view can be discussed using some of the lessons and conclusions drawn from individual resilience studied by psychologists in an educational context. The main point made in this article is that unless we want to approach resilience as a feature which is exogenously given in each population and society and whose dynamics, if any, are not subject to deliberate actions and policies, we need a framework for the evaluation of resilience as a social good. Relying on the hope that resilience is necessarily built in our societies as a force guaranteeing convergence to a socially desirable point of social evolution may be too optimistic and even counterproductive, because it may lead us to an inefficient or biased political and regulatory decision making. When the effect of policies and actions at a national or international level take into account the dynamic effect of such actions on resilience itself, one cannot blindly rely on the goodness of the process any more. This is mainly because resilience is not uniformly embodied in all societies and it does not have a globally positive social value by itself. The issue of socially valuing the options available beyond market-price valuations becomes fundamental in this context.

Induced seismicity in the Castarthao reservoir, NE Brazil - Preliminary results

The Castanhao reservoir was built in the state of Ceara, a dry region in Northeastern Brazil, to regulate the flow of the Jaguaribe River, for irrigation, and for power generation. It is an earth-filled dam, 60 m high, with a water capacity of 4.5 x 10(9) m(3). The seismicity in the area has been monitored since 1998, with a few interruptions, using one analog or one digital station and, during a few periods, a three-station network. The first earthquakes likely to be induced events were detected in 2003, when the water level was about 20 in high. In early 2004 a very heavy rainfall season quickly filled the reservoir. Shortly after, an increase in the seismic activity occurred and many micro-earthquakes were recorded. We suggest that this activity resulted from an increase in pore pressure due to undrained response. Therefore, we may classify this cluster of microearthquakes as ""initial seismicity."" We deployed a network with four analog stations in the area, following this activity, to determine the epicentral zone. At least three epicentral areas under the reservoir were detected. The spatio-temporal analysis of the available data revealed that the seismicity occurs in clusters and that these were activated at different periods. We identified four sets of faults (N-S-, E-W-, NW-SE-, and NE-SW-oriented), some of which moved in shallow crustal levels and as recently as the Quaternary (1.8 Ma). Under the present-day stress regime, the last two sets moved as strike-slip structures. We suggest a possible correlation between dormant faults and the observed induced seismicity. (c) 2008 Elsevier B.V. All rights reserved.

Application of abrupt cut-off models in the analysis of the capacitance spectra of conjugated polymer devices

In this paper, a detailed study of the capacitance spectra obtained from Au/doped-polyaniline/Al structures in the frequency domain (0.05 Hz-10 MHz), and at different temperatures (150-340 K) is carried out. The capacitance spectra behavior in semiconductors can be appropriately described by using abrupt cut-off models, since they assume that the electronic gap states that can follow the ac modulation have response times varying rapidly with a certain abscissa, which is dependent on both temperature and frequency. Two models based on the abrupt cut-off concept, formerly developed to describe inorganic semiconductor devices, have been used to analyze the capacitance spectra of devices based on doped polyaniline (PANI), which is a well-known polymeric semiconductor with innumerous potential technological applications. The application of these models allowed the determination of significant parameters, such as Debye length (approximate to 20 nm), position of bulk Fermi level (approximate to 320 meV) and associated density of states (approximate to 2x10(18) eV(-1) cm(-3)), width of the space charge region (approximate to 70 nm), built-in potential (approximate to 780 meV), and the gap states` distribution.

Current and future shopping conditions in Sälen

Going from having bought the most essential at the small shops close to home, better communications and an increasingly consumption oriented lifestyle has created a change in shopping behavior and has led to phenomenon such as shopping centres and more. These are constantly being built in Sweden: in the cities, outside the cities and more recently even in small cities -small cities as for one reason or another have access to a larger customer base which can have businesses to flourish economically. During the first decade of the 21st century, shopping centres have been established along the Swedish/Norwegian border. Since the Norwegian Krone is much stronger than the Swedish Krona Norwegians save a great deal of money on going to Sweden to shop. During the shopping trips to Sweden, it is mostly alcohol, meat, tobacco and candy that are being bought. However, other products such as clothing, technology, household appliances and more are also being purchased, all to save money on the trip. Together these cross border shoppers spent 11, 6 billion in Sweden during the year of 2010. This gives an average spending of approximately 10 900 SEK per cross border shopper on annual basis. Nordby, Töcksfors and Charlottenberg (small cities located in southwestern Sweden) are places characterized by Norwegian cross border shopping. Together, they generate billions every year and this only seems to increase. These places are relatively small in size but have prominent attributes such as proximity to the Norwegian border. Apart from these resorts and shopping centres, there are few or none similar places near the Norwegian border in the rest of Sweden. However, a place which is geographically well located and has a relatively large Norwegian and Swedish customer base is the ski resort of Sälen in west central of Sweden. Sälen is a village located near the Norwegian border, although fairly sparsely populated. The destination has annually about one million official guest nights, based on the 414 000 visitors who stay an average of about 4, 5 days.  Per visit, these tourists individually spend an average of 862 SEK on shopping at the destination. The expenditure of the mountain tourists together with the Norwegian border shoppers makes it very interesting to explore the opportunities for shopping development in terms of a shopping centre in the region of Sälen.