842 resultados para Real assets and portfolio diversification
Resumo:
This research computes an Equilibrium Labor Share using a VECM for a panel of 19 countries, analyzes what determines the speed at which the labor share adjusts towards that equilibrium and decomposes this adjustment in terms of real wages and employment. Results suggest that the speed at which a country adjusts decreases with employment protection legislation and labor taxes. Most countries’ labor shares adjustment is made through real wages changes instead of changing employment, suggesting that wage moderation policies may play an important role on the adjustment process without harming employment. Keywords: Equilibrium
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This research computes an Equilibrium Labor Share using a VECM for a panel of 19 countries, analyzes what determines the speed at which the labor share adjusts towards that equilibrium and decomposes this adjustment in terms of real wages and employment. Results suggest that the speed at which a country adjusts decreases with employment protection legislation and labor taxes. Most countries’ labor shares adjustment is made through real wages changes instead of changing employment, suggesting that wage moderation policies may play an important role on the adjustment process without harming employment.
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The environment can modify developmental trajectories and generate a range of distinct phenotypes without altering an organism’s genome, a widespread phenomenon called developmental plasticity. The past decades have seen a resurgent interest in understanding how developmental plasticity contributes to evolutionary processes, as it can produce phenotypic variation among individuals and facilitate diversification among populations that inhabit distinct ecological niches. To better understand the importance of plastic responses for evolutionary change, we need to explore how the environment alters development to produce phenotypic variation and then compare this to how genetic variation influences these same developmental processes.(...)
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High temperature superconductors were discovered in 1986, but despite considerable research efforts, both experimental and theoretical, these materials remain poorly understood. Because their electronic structure is both inhomogeneous and highly correlated, a full understanding will require knowledge of quasiparticle properties both in real space and momentum space. In this thesis, we will present a theoretical analysis of the scanning tunneling microscopy (STM) data in BSCCO. We introduce the Bogoliubov-De Gennes Hamiltonian and solve it numerically on a two-dimensional 20 x 20 lattice under a magnetic field perpendicular to the surface. We consider a vortex at the center of our model. We introduce a Zn impurity in our lattice as a microscopic probe of the physical properties of BSCCO. By direct numerical diagonalization of the lattice BogoliubovDe Gennes Hamiltonian for different positions of the impurity, we can calculate the interaction between the vortex and the impurity in a d-wave superconductor.
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The purpose of this study is to examine and explore the level of risk that CAMI workers confront under their existing labour-management partnership arrangement. Risk is explored using two distinct categories, distributive and political. Distributive risk is expressed as tangibly substantive, reflecting the real terms and conditions of employment, and the changing social relations of production on the floor. The second type of risk is political and is concerned with the effects that labour-management partnerships have on the displacement of unions as legitimate agents of/for workers within the workplace. Data was collected using three methods; content analysis, cross-sectional survey and focus group interviews. The study revealed that CAMI workers are exposed to both distributive and political risk under their current LMP arrangement.
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Analysis of power in natural resources management is important as multiple stakeholders interact within complex, social-ecological systems. As a sub-set of these interactions, community climate change adaptation is increasingly using participatory processes to address issues of local concern. While some attention has been paid to power relations in this respect, e.g. evaluating international climate regimes or assessing vulnerability as part of integrated impact assessments, little attention has been paid to how a structured assessment of power could facilitate real adaptation and increase the potential for successful participatory processes. This paper surveys how the concept of power is currently being applied in natural resources management and links these ideas to agency and leadership for climate change adaptation. By exploring behavioural research on destructive leadership, a model is developed for informing participatory climate change adaptation. The working paper then concludes with a discussion of developing research questions in two specific areas - examining barriers to adaptation and mapping the evolution of specific participatory processes for climate change adaptation.
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La thèse présente une description géométrique d’un germe de famille générique déployant un champ de vecteurs réel analytique avec un foyer faible à l’origine et son complexifié : le feuilletage holomorphe singulier associé. On montre que deux germes de telles familles sont orbitalement analytiquement équivalents si et seulement si les germes de familles de difféomorphismes déployant la complexification de leurs fonctions de retour de Poincaré sont conjuguées par une conjugaison analytique réelle. Le “caractère réel” de la famille correspond à sa Z2-équivariance dans R^4, et cela s’exprime comme l’invariance du plan réel sous le flot du système laquelle, à son tour, entraîne que l’expansion asymptotique de la fonction de Poincaré est réelle quand le paramètre est réel. Le pullback du plan réel après éclatement par la projection monoidal standard intersecte le feuilletage en une bande de Möbius réelle. La technique d’éclatement des singularités permet aussi de donner une réponse à la question de la “réalisation” d’un germe de famille déployant un germe de difféomorphisme avec un point fixe de multiplicateur égal à −1 et de codimension un comme application de semi-monodromie d’une famille générique déployant un foyer faible d’ordre un. Afin d’étudier l’espace des orbites de l’application de Poincaré, nous utilisons le point de vue de Glutsyuk, puisque la dynamique est linéarisable auprès des points singuliers : pour les valeurs réels du paramètre, notre démarche, classique, utilise une méthode géométrique, soit un changement de coordonée (coordonée “déroulante”) dans lequel la dynamique devient beaucoup plus simple. Mais le prix à payer est que la géométrie locale du plan complexe ambiante devient une surface de Riemann, sur laquelle deux notions de translation sont définies. Après avoir pris le quotient par le relèvement de la dynamique nous obtenons l’espace des orbites, ce qui s’avère être l’union de trois tores complexes plus les points singuliers (l’espace résultant est non-Hausdorff). Les translations, le caractère réel de l’application de Poincaré et le fait que cette application est un carré relient les différentes composantes du “module de Glutsyuk”. Cette propriété implique donc le fait qu’une seule composante de l’invariant Glutsyuk est indépendante.
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La réforme et l’harmonisation du droit des sûretés mobilières sont à l’ordre du jour de plusieurs organisations internationales, car il est admis qu’un régime de sûretés efficient favorise l’accès au crédit à de faibles coûts. L’harmonisation de ce droit comporte deux volets. D’une part, dans l’Occident industrialisé, les efforts d’harmonisation vont de la réforme des droits internes à l’établissement de régimes spéciaux relativement à des biens spécifiques (principalement les biens mobiles de grande valeur, tels les aéronefs, le matériel ferroviaire roulant et les satellites, et les biens incorporels, comprenant les créances, valeurs mobilières, actifs financiers et titres intermédiés). Ces efforts d’harmonisation démontrent que d’un point de vue systémique, malgré quelques différences notables, les régimes nord-américains et européens sont fondés sur des principes similaires et atteignent des résultats comparables. En résulte l’émergence d’un ordre juridique transnational en droit des sûretés mobilières, fondé sur les principes de la primauté de l’individu et la reconnaissance du droit de propriété de l’individu dans ses biens, mis en œuvre grâce à l’État de droit. D’autre part, les institutions financières internationales encouragent l’établissement de régimes de sûretés dans les pays en voie de développement qui obéissent aux mêmes critères que ceux de l’Occident, en insistant sur les réformes institutionnelles et juridiques visant l’établissement d’une bonne gouvernance et l’État de droit. Cependant, une transposition des régimes occidentaux ne peut se faire sans heurts dans les pays en voie de développement, notamment pour des raisons socio-culturelles et politiques. Lorsque les principes de la primauté de l’individu, de la propriété individuelle et de l’État de droit ne sont pas reconnus dans un pays donné, la réforme et l’harmonisation du droit des sûretés s’en trouvent compromis. La démonstration de l’état d’avancement de la réforme et de l’harmonisation du droit des sûretés dans les pays occidentaux industrialisés est faite grâce à une comparaison du Uniform Commercial Code, du Code civil du Québec, des Personal Property Security Acts des provinces canadiennes de common law, des principes des droits français et anglais, de l’influence du droit communautaire sur les pays membres de l’Union Européenne. Sont analysés, aussi, dans cette optique, les principaux instruments de l’harmonisation du droit émanant des organisations internationales. Par ailleurs, deux études de cas relatifs à la réforme du crédit foncier en Égypte et à la réforme de l’urbanisme et de l’habitat en République démocratique du Congo, viennent étayer les difficultés que rencontrent les institutions internationales, telles la Banque mondiale et l’ACDI, dans le cadre de projets de réformes visant la bonne gouvernance et l’instauration d’un véritable État de droit, en partie à cause d’un pluralisme des ordres juridiques de ces pays.
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La protéine AID (déaminase induite par l’activation) joue un rôle central dans la réponse immunitaire adaptative. En désaminant des désoxycytidines en désoxyuridines au niveau des gènes immunoglobulines, elle initie l’hypermutation somatique (SHM), la conversion génique (iGC) et la commutation isotypique (CSR). Elle est essentielle à une réponse humorale efficace en contribuant à la maturation de l’affinité des anticorps et au changement de classe isotypique. Cependant, son activité mutagénique peut être oncogénique et causer une instabilité génomique propice au développement de cancers et de maladies autoimmunes. Il est donc critique de réguler AID, en particulier ses niveaux protéiques, pour générer une réponse immunitaire efficace tout en minimisant les risques de cancer et d’autoimmunité. Un élément de régulation est le fait qu’AID transite du cytoplasme vers le noyau mais reste majoritairement cytoplasmique à l’équilibre. AID est par ailleurs plus stable dans le cytoplasme que dans le noyau, ce qui contribue à réduire sa présence à proximité de l’ADN. Le but de cette thèse était d’identifier de nouveaux partenaires et déterminants d’AID régulant sa stabilité et ses fonctions biologiques. Dans un premier temps, nous avons identifié AID comme une nouvelle protéine cliente d’HSP90. Nous avons montré qu’HSP90 interagit avec AID dans le cytoplasme, ce qui empêche la poly-ubiquitination d’AID et sa dégradation par le protéasome. En conséquence, l’inhibition d’HSP90 résulte en une diminution significative des niveaux endogènes d’AID et corrèle avec une réduction proportionnelle de ses fonctions biologiques dans la diversification des anticorps mais aussi dans l’introduction de mutations aberrantes. Dans un second temps, nous avons montré que l’étape initiale dans la stabilisation d’AID par la voie de chaperonnage d’HSP90 dépend d’HSP40 et d’HSP70. En particulier, la protéine DnaJa1, qui fait partie de la famille des protéines HSP40s, limite la stabilisation d’AID dans le cytoplasme. La farnésylation de DnaJa1 est importante pour l’interaction entre DnaJa1 et AID et moduler les niveaux de DnaJa1 ou son état de farnésylation impacte à la fois les niveaux endogènes d’AID mais aussi la diversification des anticorps. Les souris DNAJA1-/- présentent une réponse immunitaire compromise en cas d’immunisation, qui est dûe à des niveaux réduits d’AID et un défaut de commutation de classe. Dans un troisième temps, nous avons montré que la protéine AID est intrinsèquement plus instable que sesprotéines paralogues APOBEC. Nous avons identifié l’acide aspartique en seconde position d’AID ainsi qu’un motif semblable au PEST comme des modulateurs de la stabilité d’AID. La modification de ces motifs augmente la stabilité d’AID et résulte en une diversification des anticorps plus efficace. En conclusion, l’instabilité intrinsèque d’AID est un élément de régulation de la diversification des anticorps. Cette instabilité est en partie compensée dans le cytoplasme par l’action protective de la voie de chaperonnage DnaJa1-HSP90. Par ailleurs, l’utilisation d’inhibiteurs d’HSP90 ou de farnésyltransférases pourrait être un outil intéressant pour la modulation indirecte des niveaux d’AID et le traitement de lymphomes/leucémies et de maladies auto-immunes causés par AID.
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Holographic technology is at the dawn of quick evolution in various new areas including holographic data storage, holographic optical elements, artificial intelligence, optical interconnects, optical correlators, commerce, medical practice, holographic weapon sight, night vision goggles and games etc. One of the major obstacles for the success of holographic technology to a large extent is the lack of suitable recording medium. Compared with other holographic materials such as dichromated gelatin and silver halide emulsions, photopolymers have the great advantage of recording and reading holograms in real time and the spectral sensitivity could be easily shifted to the type of recording laser used by simply changing the sensitizing dye. Also these materials possess characteristics such as good light sensitivity, real time image development, large dynamic range, good optical properties, format flexibility, and low cost. This thesis describes the attempts made to fabricate highly economic photopolymer films for various holographic applications. In the present work, Poly (vinyl alcohol) (PVA) and poly (vinyl chloride) (PVC) are selected as the host polymer matrices and methylene blue (MB) is used as the photosensitizing dye. The films were fabricated using gravity settling method. No chemical treatment or pre/post exposures were applied to the films. As the outcome of the work, photopolymer films with more than 70% efficiency, a permanent recording material which required no fixing process, a reusable recording material etc. were fabricated.
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In this thesis, the concept of reversed lack of memory property and its generalizations is studied.We we generalize this property which involves operations different than the ”addition”. In particular an associative, binary operator ” * ” is considered. The univariate reversed lack of memory property is generalized using the binary operator and a class of probability distributions which include Type 3 extreme value, power function, reflected Weibull and negative Pareto distributions are characterized (Asha and Rejeesh (2009)). We also define the almost reversed lack of memory property and considered the distributions with reversed periodic hazard rate under the binary operation. Further, we give a bivariate extension of the generalized reversed lack of memory property and characterize a class of bivariate distributions which include the characterized extension (CE) model of Roy (2002a) apart from the bivariate reflected Weibull and power function distributions. We proved the equality of local proportionality of the reversed hazard rate and generalized reversed lack of memory property. Study of uncertainty is a subject of interest common to reliability, survival analysis, actuary, economics, business and many other fields. However, in many realistic situations, uncertainty is not necessarily related to the future but can also refer to the past. Recently, Di Crescenzo and Longobardi (2009) introduced a new measure of information called dynamic cumulative entropy. Dynamic cumulative entropy is suitable to measure information when uncertainty is related to the past, a dual concept of the cumulative residual entropy which relates to uncertainty of the future lifetime of a system. We redefine this measure in the whole real line and study its properties. We also discuss the implications of generalized reversed lack of memory property on dynamic cumulative entropy and past entropy.In this study, we extend the idea of reversed lack of memory property to the discrete set up. Here we investigate the discrete class of distributions characterized by the discrete reversed lack of memory property. The concept is extended to the bivariate case and bivariate distributions characterized by this property are also presented. The implication of this property on discrete reversed hazard rate, mean past life, and discrete past entropy are also investigated.
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The first part of the study has focused on the trends in area, production and productivity comparing the state’s performance with of national level performance. Also an attempt was made to understand the trends in commodity price over the years especially in the post liberalization period from the early 1990s. Plantation commodities occupy an important share in the country’s export basket and thereby earning foreign exchange to the national exchequer. Taking into consideration the competitive dimension of natural rubber, cardamom and pepper in the export market was analyzed to see penetration of these commodities in the world market.The second part of the study has tried to understand the plantation workers livelihood by understand the employment generation in the sector. Livelihood assets of plantation workers were analyzed to understand the nature of ownership of various assets. Understanding the poor quality and ownership of various livelihood assets and their relative deprivation the study also tried to understand the income-expenditure patterns and the nature of indebtedness among workers and the factors responsible for deprivation and thereby social exclusion.Area, Production and productivity trends of rubber, pepper and cardamom show a mixed picture. Area, Production trends are impacted greatly by the commodity price of the plantation crops.High correlation exists between commodity price and area and production trends of plantation crops in the state.In terms of Natural Rubber, Kerala experienced a steady growth over the years in terms of area production and productivity as the price of rubber has increasedIn terms of black pepper, the state witnessed a deceleration in growth.In the case of cardamom the area of cultivation declined whereas production increasedProductivity of natural rubber, pepper and cardamom has increased substantially over the yearsEmployment pattern in rubber and spices sub-sector has been analyzed by looking in to the commodity prices so as to see the changes in employment pattern over the years. The study has helped to understand that commodity price and employment generation in plantations are interconnected to such an extent that a fall in the commodity price have greater reverberations on the employment pattern in plantations.Livelihood analysis both in the small and large holdings show that workers belonging to rubber (large and small rubber) plantations have shown better possession of livelihood assets when compared to spices plantation workers as 16.2 percent of the spices sub-sector workers claimed about ownership of house which is considered to be an important and primary livelihood asset.In the case of natural assets like accessibility, availability and duration of water for drinking and other household purposes, the situation of workers in spices plantation still remain poor as around 80 percent of workers depending on public well public taps and canals as source of drinking water.Evaluating financial assets also give clear indication that the road to secure financial assets still remains a distant dream for the workers in plantation sectorEvaluating income and expenditure trends pinpoints to the fact that disparity in terms of income exist among the plantation workersWhile observing the employment though wage levels have improved because of improvement in commodity price of plantation crops, significant improvements are not visible in their livelihood and they remain excluded compared to other sections of the society.
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The registration of pre-operative volumetric datasets to intra- operative two-dimensional images provides an improved way of verifying patient position and medical instrument loca- tion. In applications from orthopedics to neurosurgery, it has a great value in maintaining up-to-date information about changes due to intervention. We propose a mutual information- based registration algorithm to establish the proper align- ment. For optimization purposes, we compare the perfor- mance of the non-gradient Powell method and two slightly di erent versions of a stochastic gradient ascent strategy: one using a sparsely sampled histogramming approach and the other Parzen windowing to carry out probability density approximation. Our main contribution lies in adopting the stochastic ap- proximation scheme successfully applied in 3D-3D registra- tion problems to the 2D-3D scenario, which obviates the need for the generation of full DRRs at each iteration of pose op- timization. This facilitates a considerable savings in compu- tation expense. We also introduce a new probability density estimator for image intensities via sparse histogramming, de- rive gradient estimates for the density measures required by the maximization procedure and introduce the framework for a multiresolution strategy to the problem. Registration results are presented on uoroscopy and CT datasets of a plastic pelvis and a real skull, and on a high-resolution CT- derived simulated dataset of a real skull, a plastic skull, a plastic pelvis and a plastic lumbar spine segment.
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In image segmentation, clustering algorithms are very popular because they are intuitive and, some of them, easy to implement. For instance, the k-means is one of the most used in the literature, and many authors successfully compare their new proposal with the results achieved by the k-means. However, it is well known that clustering image segmentation has many problems. For instance, the number of regions of the image has to be known a priori, as well as different initial seed placement (initial clusters) could produce different segmentation results. Most of these algorithms could be slightly improved by considering the coordinates of the image as features in the clustering process (to take spatial region information into account). In this paper we propose a significant improvement of clustering algorithms for image segmentation. The method is qualitatively and quantitative evaluated over a set of synthetic and real images, and compared with classical clustering approaches. Results demonstrate the validity of this new approach
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En este trabajo se analiza el impacto en la cartera bruta del sector nanciero colombiano ante un choque en las variables macroeconómicas ó viceversa. Lo anterior se realizó a través de un modelo de correción de errores vectorial (VECM). Inicialmente, los resultados señalan que existe una relación de causalidad y de largo plazo entre la cartera neta real del sector nanciero, el Producto Interno Bruto, la DTF Real y el Índice de la Tasa de Cambio Real. Finalmente, se encontró que los impulsos respuesta de las variables mencionadas están acordes con la teoría económica y los hechos estilizados.