Fueling growth when oil peaks: directed technological change and the limits to efficiency

While fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous growth model that reconciles the current aggregate trends in energy use and productivity growth with the intertemporal dynamics of forward looking resource markets. Combining scarcity-rent driven energy supply (in the spirit of Hotelling) with profit-driven Directed Technical Change (in the spirit of Romer/Acemoglu), we generate transitional dynamics that can be qualitatively calibrated to current trends. The long-run properties of the model are studied to examine whether current trends are sustainable. We highlight the role of extraction costs in mining.

Essays on Market Frictions and Securitization

This dissertation provides a novel theory of securitization based on intermediaries minimizing the moral hazard that insiders can misuse assets held on-balance sheet. The model predicts how intermediaries finance different assets. Under deposit funding, the moral hazard is greatest for low-risk assets that yield sizable returns in bad states of nature; under securitization, it is greatest for high-risk assets that require high guarantees and large reserves. Intermediaries thus securitize low-risk assets. In an extension, I identify a novel channel through which government bailouts exacerbate the moral hazard and reduce total investment irrespective of the funding mode. This adverse effect is stronger under deposit funding, implying that intermediaries finance more risky assets off-balance sheet. The dissertation discusses the implications of different forms of guarantees. With explicit guarantees, banks securitize assets with either low information-intensity or low risk. By contrast, with implicit guarantees, banks only securitize assets with high information-intensity and low risk. Two extensions to the benchmark static and dynamic models are discussed. First, an extension to the static model studies the optimality of tranching versus securitization with guarantees. Tranching eliminates agency costs but worsens adverse selection, while securitization with guarantees does the opposite. When the quality of underlying assets in a certain security market is sufficiently heterogeneous, and when the highest quality assets are perceived to be sufficiently safe, securitization with guarantees dominates tranching. Second, in an extension to the dynamic setting, the moral hazard of misusing assets held on-balance sheet naturally gives rise to the moral hazard of weak ex-post monitoring in securitization. The use of guarantees reduces the dependence of banks' ex-post payoffs on monitoring efforts, thereby weakening monitoring incentives. The incentive to monitor under securitization with implicit guarantees is the weakest among all funding modes, as implicit guarantees allow banks to renege on their monitoring promises without being declared bankrupt and punished.

Periodismo literario y conflicto social en México en las crónicas de Charles Bowden y Judith Torrea

La presente comunicación analiza las relaciones entre periodismo literario y conflicto social a partir de la visión que sobre la violencia, el narcotráfico, los asesinatos, el crimen, las desapariciones etc., tienen las crónicas de Charles Bowden y Judtih Torrea. Bowden es un periodista norteamericano, recientemente fallecido, que ha vivido en primera persona el problema de la violencia a un lado y a otro de la frontera entre México y Estados Unidos. Por su parte, Judith Torrea, es una periodista española, Premio Ortega y Gasset 2010 de periodismo en Internet, afincada en Juárez y cuya obra se ha centrado en las desapariciones de mujeres en Juárez. La perspectiva de ambos profesionales, de procedencia y generación distinta, nos permite abordar el fenómeno del conflicto social mexicano no sólo desde el ángulo del análisis pormenorizado del problema, sino de la visión personal y en muchos casos subjetiva del periodista que se enfrenta in situ, y de manera personal a estas situaciones de conflicto. Nos centraremos para este doble análisis, de un lado La ciudad del crimen: Ciudad Juárez y los nuevos campos de exterminio de la economía global del periodista norteamericano Charles Bowden y Juárez en la sombra: Crónica de una ciudad que se resiste a morir de la periodista española Judith Torrea. Creemos poder contribuir de esta manera al estudio del periodismo literario a través de la crónica como género a partir de las adaptaciones que esta sufre en función del contexto del que trata. Centramos el caso en el estudio de Ciudad Juárez dada la importancia de este caso y su repercusión social y el eco internacional que tiene a lo que se añade el carácter fronterizo del problema y por tanto un fenómeno que posee una singularidad específica. This communication analyses the relationship between literary journalism and social conflict, from the point of view Charles Bowden and Judtih Torrea chronicles have about violence, drug trafficking, murders, crime, disappearances, etc. Bowden is an American journalist, recently deceased, who has experienced on the first hand the problem of violence on the border between Mexico and the United States. Meanwhile, Torrea is a Spanish journalist, awarded in 2010 with the Journalism on the Internet Ortega y Gasset Prize, settled in Juarez conflict and whose work is focused on the disappearances of women in Juarez. The perspectives of both professionals, who are from different origin and generation, allow us to deal with the situation of Mexican social conflict, from the angle of detailed analysis of the problem, and from the journalist’s personal view, often subjective, who had to cope with this reality. For this double analysis, we will focus, firstly, on Murder City: Ciudad Juarez and the Global Economy's New Killing Fields by the American journalist Charles Bowden and, secondly, on City of Juarez: Under the Shadow of Drug Trafficking by the Spanish journalist Judith Torrea. Accordingly, we contribute to the study of literary journalism through the chronicle as genre with the adaptation it suffers depending on the context. Ciudad Juarez is the center of this investigation due to the importance of this case and its social impact and international repercussions. Besides, the border problem contributes to give a specific singularity to this.

La imagen en el discurso multimodal cortazariano, una poética en movimiento

The selection and proposed cortazarian image in multimodal speech, a poetic moving as a doctoral thesis title, is the result of a process that forms several progressive stages. more than satisfy our curiosity and literary artistic concerns, the questions multiply increases our desire to bring more creative Cortazarian the colossus, that not only ruins a way of making literature , but in its revolutionary labyrinth gives a turn of the screw to the already tangled world of artistic writing , breaking in 1967 with the first of four hybrids books, La vuelta al día en ochenta mundos through which converts the traditional plastic unitextual and unimodal space in a palempsesto inexhaustible generator senses and meanings. Far from appeasing the wrath of conservative critics, caused by his narrative masterpiece, Hopscotch (1963), sparked the debate to denounce the regression of the classic molds of writing, proposing the imagination as the setting for creative freedom, it is not as arbitrary and nonsense, but as a process of higher state of consciousness in which it operates an underlying logic. Hence, our objective is to crawl into the underworld and plastics other multisígnicas border spaces, fleeting and ephemeral alliances that relate not just as complementary and similar texts which may be the same speech and can transmit the same, but quite the contrary, the oft-repeated notion of analogy is the first victim, fortunately, this kind of creative-artistic operations that raise the creative act to a sublime state capable of converting the inexhaustible multitextuales constellations in different ways: opposition, confrontation, invasion, dialogue, shadow, duplication, theft, etc. However this multiple transgression pushed to the limit by Julio Cortazar and his friend Julio Silva through four books proposed for analysis often does not translate into jobs and research in literature departments of the universities of the world, nor the critics are echoes the striking abundance and clarity of expression multimodal phenomenon as is the case with other works of Cortazar unimodal type, which makes it impassable fences mysterious worlds...

Efeito da intensidade luminosa no desenvolvimento larval do camarão-da-amazônia, Macrobrachium amazonicum

The effects of four light intensities (0; 2.8 +/- 0.9; 5,5 +/- 1,8 e 7,8 +/- 2,5 mu mol s(-1) m(-2), about 136.5 +/- 87.5; 273 +/- 43.8 e 390 +/- 125 lux, respectively) on survival, productivity, weight gain and larval development of Macrobrachium amazonicum were investigated. Four treatments with three replicate tanks were evaluated. Newly hatched larvae were held in black tanks (80.2 +/- 0.6 larvae L(-1)) filled with 50-L-brackish water (salinity of 10), in a recirculating system. Tanks were covered with shadow cloth allowing 35% and 70% light, respectively, to reach light intensities of 2.8 +/- 0.9 and 5.5 +/- 1.8 mu mol s(-1) m(-2) at the water surface. Complete absence of light (0 mu mol s(-1) m(-2)) was obtained covering the tanks with opaque black plastic, and full-light condition used no covering (7.8 +/- 2.5 mu mol s(-1) m(-2)). Observations showed that the survival rate was not affected by light intensity. Productivity and weight gain were higher under 7.8 +/- 2.5 mu mol s(-1) m(-2) light intensity than under 0 and 2.8 +/- 0.9 1 mu mol s(-1) m(-2) intensities (P<0.05). The larval development index was similar among the treatments under the different light intensities. However, from stage VII this index was increased slightly in the treatment under 7.8 +/- 2.5 mu mol s(-1) m(-2) light intensity. In conclusion, light intensity affects larval development of M. amazonicum. Values as high as 7.8 mu mol s(-1) m(-2) (about 390 lux) improve the larval performance by enhancing development, productivity and weight gain compared to lower values.

La banca en la sombra en Colombia : la utilización de la libranza como instrumento especulativo, sin la debida protección al inversionista. Análisis de las consecuencias de esta falla del mercado financiero

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Mentoring : o caso Santander Totta

Mestrado em Ciências Empresariais

Implementation of an intelligent sensor for measurement and prediction of solar radiation and atmospheric temperature

Dissertação de mestrado, Engenharia Electrónica e Telecomunicações, Faculdade de Ciências e Tecnologia, Universidade do Algarve, 2011

On Some Unifications Arising from the MIMO Rician Shadowed Model

This paper shows that the proposed Rician shadowed model for multi-antenna communications allows for the unification of a wide set of models, both for multiple-input multiple-output (MIMO) and single- input single-output (SISO) communications. The MIMO Rayleigh and MIMO Rician can be deduced from the MIMO Rician shadowed, and so their SISO counterparts. Other more general SISO models, besides the Rician shadowed, are included in the model, such as the κ-μ, and its recent generalization, the κ-μ shadowed model. Moreover, the SISO η-μ and Nakagami-q models are also included in the MIMO Rician shadowed model. The literature already presents the probability density function (pdf) of the Rician shadowed Gram channel matrix in terms of the well-known gamma- Wishart distribution. We here derive its moment generating function in a tractable form. Closed- form expressions for the cumulative distribution function and the pdf of the maximum eigenvalue are also carried out.

National and international disability rights legislation: a qualitative account of its enactment in Australia

In this paper, a detailed analysis based on the lived experiences of the study participants and the researcher (each with vision impairment) in education, post school and in the pursuit for employment is developed. The policy discourses of disability legislation - both at national and international levels - are explored with particular reference to their enactment in Australia. The analysis focuses on the collective indifference to detached others, which is evident in the linguistic construction of people with disabilities in the United Nations [(2006). Convention of the Rights of Persons with Disabilities. New York: United Nations] and the Australian Standards for Education 2005 [Australian Department of Education, Science and Training. 2006. Disability Standards for Education 2005 Plus Guidance Notes. Accessed March 12, 2012. http://nla.gov.au/nla.arc-7692.]. Together, these elements reflect the neoliberal principles that cast a shadow over the discourses of the disability policies.

Playing Miami : Afrocuban performance artists negotiating cubanidad

The social scripts that are deeply involved in cultural production by AfroCuban identified artists in Miami, during the late nineties to the present, participate in a climate that is informed by and feeds from the so-called Latin Explosion of this time period. More specifically, varying historical, socioeconomic, and geopolitical trajectories have placed Africa and African-based religion and cultural production (via music and theatre) at the center of Cuban national identity. The purpose of this study is to facilitate a discussion of the experiences of AfroCuban performance artists and the climate for production, given the aforementioned dynamics, in mass media. These experiences are directed by a study of transnational structures for cultural production (including the more recent memory-shadow of hip-hop culture in Cuba) and discourse that engages theories of modernity, authenticity, and resistance. Through the interventions of artists, producers, and distributors via their art and business, the text identifies and resists the pervasive oppression of stereotype, dehumanization (Othering), and essentialism.

Implicaciones humanitarias de la contratación de empresas militares privadas (PMC) por parte de los Estados. Estudio de caso; Estados Unidos y Blackwater en Irak (2003-2007)

La presente investigación tiene como finalidad analizar las implicaciones humanitarias de la participación de las Compañías Militares Privadas (PMC) contratadas por los Estados en escenarios de conflicto, a partir del caso de Blackwater y Estados Unidos en Irak (2003-2007), con el fin de mostrar a través de algunos hechos específicos como el acaecido en la plaza Al Nisour los vacíos existentes en la regulación de sus actividades. Frente a estos hechos se muestra como la Comunidad Internacional ha tratado de avanzar en la creación de un régimen internacional que las controle, sin embargo, como se evidencia a lo largo de este escrito la falta de compromiso por parte de los Estados ha hecho que esta tarea se vea obstaculizada y por lo tanto la actuación de estas compañías se encuentra aún en una zona jurídica gris.

Cross-shore transport in a daily varying upwelling regime: A case study of barnacle larvae on the southwestern Iberian coast.

With favored offshore and downstream advection, the question of which physical mechanism may promote onshore transport of larvae in upwelling systems is of central interest. We have conducted a semi-realistic high resolution (0.25 km) numerical study of Lagrangian transports across the inner-shelf under upwelling-favorable wind forcing conditions, focusing on the shelf area of the Southwestern Portuguese coast, in the lee of Cape Sines. We add our findings to several years of biological observations of C. montagui, a planktonic species with higher recruitment during the upwelling peak timely with the daylight flood. Simulations cover a fifteen days period during the summer of 2006. We focused on Spring and Neap tide periods and observed upfront differences between simulations and the in situ observa- tions. However, the model is capable of representing the main dynamics of the region, namely the re- petitive character of the inner-shelf currents. We find that the cross-shore flow varies significantly in the daily cycle, and locally within a scale of a few kilometers in association with local topography and the presence of the cape. We consider the region immediately in the lee of the cape to be an upwelling shadow where the larvae became retained, and found that tidally tied migration proves beneficial for successful recruitment during the spring tides period. Our work suggested that the wind is not the only mechanism responsible for the daily variability of the cross-shore exchange. However, its sharp reversal at midday is critical for the advection of larvae towards the coast.