A multifactor approach to the social discount rate

This work focuses on the appraisal of public and environmental projects and, more specifically, on the calculation of the social discount rate (SDR) for this kind of very long-term investment projects. As a rule, we can state that the instantaneous discount rate must be equal to the hazard rate of the public good or to the mortality rate of the population that the project is intended to. The hazard can be due to technical failures of the system, but, in this paper, we are going to consider different independent variables that can cause the hazard. That is, we are going to consider a multivariate hazard rate. In our empirical application, the Spanish forest surface will be the system and the forest fire will be the fail that can be caused by several factors. The aim of this work is to integrate the different variables that produce the fail in the calculation of the SDR from a multivariate hazard rate approach.

The problem of estimating the volatility of zero coupon bond interest rate

Financial literature and financial industry use often zero coupon yield curves as input for testing hypotheses, pricing assets or managing risk. They assume this provided data as accurate. We analyse implications of the methodology and of the sample selection criteria used to estimate the zero coupon bond yield term structure on the resulting volatility of spot rates with different maturities. We obtain the volatility term structure using historical volatilities and Egarch volatilities. As input for these volatilities we consider our own spot rates estimation from GovPX bond data and three popular interest rates data sets: from the Federal Reserve Board, from the US Department of the Treasury (H15), and from Bloomberg. We find strong evidence that the resulting zero coupon bond yield volatility estimates as well as the correlation coefficients among spot and forward rates depend significantly on the data set. We observe relevant differences in economic terms when volatilities are used to price derivatives.

Incidence rate and spatio-temporal clustering of type 1 diabetes in Santiago, Chile, from 1997 to 1998

OBJECTIVE: To estimate the incidence rate of type 1 diabetes in the urban area of Santiago, Chile, from March 21, 1997 to March 20, 1998, and to assess the spatio-temporal clustering of cases during that period. METHODS: All sixty-one incident cases were located temporally (day of diagnosis) and spatially (place of residence) in the area of study. Knox's method was used to assess spatio-temporal clustering of incident cases. RESULTS: The overall incidence rate of type 1 diabetes was 4.11 cases per 100,000 children aged less than 15 years per year (95% confidence interval: 3.06--5.14). The incidence rate seems to have increased since the last estimate of the incidence calculated for the years 1986--1992 in the metropolitan region of Santiago. Different combinations of space-time intervals have been evaluated to assess spatio-temporal clustering. The smallest p-value was found for the combination of critical distances of 750 meters and 60 days (uncorrected p-value = 0.048). CONCLUSIONS: Although these are preliminary results regarding space-time clustering in Santiago, exploratory analysis of the data method would suggest a possible aggregation of incident cases in space-time coordinates.

The False cognates in enology and gastronomy: a study in english and spanish

This paper will focus on some aspects of translation based on blending distinct linguistic domains such as the vocabulary of Hotel Industry, of Enology and Gastronomy in Spanish by tertiary level students (2nd year) of the course of Hotel Management. Portuguese students, most of the times, rely on a L1 (Portuguese) general language, namely using false cognates in the above mentioned areas in the Spanish and English classes in, at a first sight helpful but misleading way, hoping to succeed by using the word that seems correct to the context, when there isn’t, because: •they choose a word suitable to the context in L2, but the choice of that word is often misleading, by relying in a false L1 reality that is going to adulterate reality in the L2 domain, •but it seems that the opposite is also true, and takes place too; The difficulty in making such type of distinctions is due to: •the lack of linguistic and lexical knowledge; • the need to study the cause of these chromaticisms, by: • being in touch with specific literature; . working, not only with their peers, but also with their language teacher to develop strategies to diminish and, if possible, to eradicate this type of linguistic and, mainly translation problem, that causes so many learning constraints.

Some translation difficulties in the use of false friends in english

This paper will focus on some aspects of translation based on blending distinct linguistic domains such as English Language and Portuguese in using false friends in the English class in tertiary level students, reflecting namely on: 1. the choice of a word suitable to the context in L2 ; 2. the difficulties encountered by choice of that word that could be misleading, by relying in a false L1 reality that is going to adulterate reality in the L2 domain; 3. the difficulty in making such type of distinctions due to the lack of linguistic and lexical knowledge. 4. the need to study the cause of these difficulties by working, not only with their peers, but also with their language teacher to develop strategies to diminish and if possible to eradicate this type of linguistic and, above all, translation problem by making an inventory of those types of mistakes. In relation to the first point it is necessary to know that translation tasks involve much more than literal concepts ( Ladmiral, 1975) : furthermore it is necessary and suitable to realise that lexicon relies in significant contexts (Coseriu 1966), which connects both domains, that, at first sight do not seem to be compatible. In other words, although students have the impression they dominate lexicon due to the fact that they possess at least seven years of foreign language exposure that doesn’t mean they master the particularities engaged in such a delicate task as translation is concerned. There are some chromaticisms in the words (false friends), that need to be researched and analysed later on by both students and language teachers. The reason for such state of affairs lies in their academic formation, of a mainly general stream, which has enabled them only for knowledge of the foreign language, but not for the translation as a tool as it is required only when they reach the tertiary level. Besides, for their translations they rely, most of the times, on glossaries, whose dominant language is portuguese of Brazil, which is, obviously, much different from the portuguese mother tongue reality and even more of English. So it seems necessary to use with caution the working tools (glossaries) that work as surpluses, but could bring translation problems as we will see.

Biodegradation rate constants in different NF/UF fractions of cork processing wastewaters

Cork processing wastewater is an aqueous complex mixture of organic compounds that have been extracted from cork planks during the boiling process. These compounds, such as polysaccharides and polyphenols, have different biodegradability rates, which depend not only on the natureof the compound but also on the size of the compound. The aim of this study is to determine the biochemical oxygen demands (BOD) and biodegradationrate constants (k) for different cork wastewater fractions with different organic matter characteristics. These wastewater fractions were obtained using membrane separation processes, namely nanofiltration (NF) and ultrafiltration (UF). The nanofiltration and ultrafiltration membranes molecular weight cut-offs (MWCO) ranged from 0.125 to 91 kDa. The results obtained showed that the biodegradation rate constant for the cork processing wastewater was around 0.3 d(-1) and the k values for the permeates varied between 0.27-0.72 d(-1), being the lower values observed for permeates generated by the membranes with higher MWCO and the higher values observed for the permeates generated by the membranes with lower MWCO. These higher k values indicate that the biodegradable organic matter that is permeated by the membranes with tighter MWCO is more readily biodegradated.

Improved matching criterion for frame rate upconversion with trilateral filtering

Frame rate upconversion (FRUC) is an important post-processing technique to enhance the visual quality of low frame rate video. A major, recent advance in this area is FRUC based on trilateral filtering which novelty mainly derives from the combination of an edge-based motion estimation block matching criterion with the trilateral filter. However, there is still room for improvement, notably towards reducing the size of the uncovered regions in the initial estimated frame, this means the estimated frame before trilateral filtering. In this context, proposed is an improved motion estimation block matching criterion where a combined luminance and edge error metric is weighted according to the motion vector components, notably to regularise the motion field. Experimental results confirm that significant improvements are achieved for the final interpolated frames, reaching PSNR gains up to 2.73 dB, on average, regarding recent alternative solutions, for video content with varied motion characteristics.

Design of a Multiband Full-Rate Ultra-Wideband Receiver in FPGA

MultiBand OFDM (MB-OFDM) UWB [1] is a short-range promising wireless technology for high data rate communications up to 480 Mbps. In this paper, we have designed and implemented in an Virtex-6 FPGA an MB-OFDM UWB receiver for the highest data rate of 480 Mbps. To test the system, we have also implemented an MB-OFDM transmitter and an AWGN generator in VHDL and determined the bit error rates at the receiver running in an FPGA.

Adaptive mutations in bacteria: high rate and small effects

Evolution by natural selection is driven by the continuous generation of adaptive mutations. We measured the genomic mutation rate that generates beneficial mutations and their effects on fitness in Escherichia coli under conditions in which the effect of competition between lineages carrying different beneficial mutations is minimized. We found a rate on the order of 10–5 per genome per generation, which is 1000 times as high as previous estimates, and a mean selective advantage of 1%. Such a high rate of adaptive evolution has implications for the evolution of antibiotic resistance and pathogenicity.

Modelo de data mining para detecção de tumores em exames de rastreio

Dissertação para obtenção do grau de Mestre em Engenharia Informática

Embedded platform for ECG biometric recognition

Trabalho Final de Mestrado para obtenção do grau de Mestre em Engenharia de Electrónica e Telecomunicações

The impact of financial disclosures in the measurement of notional interest rate swaps in the period of 2007-2012

Mestrado em Contabilidade

Rate regulated activities: a problemática do relato financeiro e da sua auditoria: o caso da navegação aérea no contexto europeu

A navegação aérea, enquanto atividade regulada, está sujeita a legislação específica, dependendo o seu exercício de autorização própria atribuída por uma entidade supervisora, que também verifica as tarifas a aplicar. O regulamento (CE) N.º 550/2004 identifica os requisitos comuns para a prestação de serviços de navegação aérea na Europa, dando particular importância à transparência do relato financeiro ao exigir a sua elaboração segundo as normas internacionais de contabilidade e a verificação por uma auditoria independente. Adicionalmente, o Regulamento (EU) N.º 1191/2010, que alterou o Regulamento (CE) N.º 1794/2006, estabelece o regime comum de tarifação de tais serviços, nomeadamente a recuperabilidade de desvios relativos ao volume de tráfego e aos gastos controláveis e não controláveis. Ao nível do enquadramento contabilístico, as atividades reguladas não têm uma norma específica. Existem dois projetos do IASB – um de 2009, que foi suspenso, e um de 2013, relativo à implementação de uma norma transitória que incentive a adoção das normas internacionais por entidades que exerçam atividades reguladas. Existe, ainda, uma norma do FASB não aplicável no espaço europeu. Os R&C de várias entidades evidenciam a existência de diferentes referenciais contabilísticos e que a generalidade dos relatórios de auditoria não tem reservas ou ênfases. Enquanto algumas entidades apenas divulgam os montantes dos desvios, outras entidades consideram que tais montantes se qualificam, reconhecendo-os. Tal facto decorre da inexistência de uma norma internacional que põe em causa a comparabilidade da informação financeira e dificulta o julgamento do auditor quanto à adequação ou não dos procedimentos adotados pela entidade.

Soil vapor extraction in sandy soils: influence of airflow rate

Airflow rate is one of the most important parameters for the soil vapor extraction of contaminated sites, due to its direct influence on the mass transfer occurring during the remediation process. This work reports the study of airflow rate influence on soil vapor extractions, performed in sandy soils contaminated with benzene, toluene, ethylbenzene, xylene, trichloroethylene and perchloroethylene. The objectives were: (i) to analyze the influence of airflow rate on the process; (ii) to develop a methodology to predict the remediation time and the remediation efficiency; and (iii) to select the most efficient airflow rate. For dry sandy soils with negligible contents of clay and natural organic matter, containing the contaminants previously cited, it was concluded that: (i) if equilibrium between the pollutants and the different phases present in the soil matrix was reached and if slow diffusion effects did not occur, higher airflow rates exhibited the fastest remediations, (ii) it was possible to predict the remediation time and the efficiency of remediation with errors below 14%; and (iii) the most efficient remediation were reached with airflow rates below 1.2 cm3 s 1 standard temperature and pressure conditions.

Remediation efficiency of vapour extraction of sandy soils contaminated with cyclohexane: influence of air flow rate, water and natural organic matter content

Abstract This work reports the analysis of the efficiency and time of soil remediation using vapour extraction as well as provides comparison of results using both, prepared and real soils. The main objectives were: (i) to analyse the efficiency and time of remediation according to the water and natural organic matter content of the soil; and (ii) to assess if a previous study, performed using prepared soils, could help to preview the process viability in real conditions. For sandy soils with negligible clay content, artificially contaminated with cyclohexane before vapour extraction, it was concluded that (i) the increase of soil water content and mainly of natural organic matter content influenced negatively the remediation process, making it less efficient, more time consuming, and consequently more expensive; and (ii) a previous study using prepared soils of similar characteristics has proven helpful for previewing the process viability in real conditions.