Individual Decision-Making and Inflation Persistence

The traditional task of a central bank is to preserve price stability and, in doing so, not to impair the real economy more than necessary. To meet this challenge, it is of great relevance whether inflation is only driven by inflation expectations and the current output gap or whether it is, in addition, influenced by past inflation. In the former case, as described by the New Keynesian Phillips curve, the central bank can immediately and simultaneously achieve price stability and equilibrium output, the so-called ‘divine coincidence’ (Blanchard and Galí 2007). In the latter case, the achievement of price stability is costly in terms of output and will be pursued over several periods. Similarly, it is important to distinguish this latter case, which describes ‘intrinsic’ inflation persistence, from that of ‘extrinsic’ inflation persistence, where the sluggishness of inflation is not a ‘structural’ feature of the economy but merely ‘inherited’ from the sluggishness of the other driving forces, inflation expectations and output. ‘Extrinsic’ inflation persistence is usually considered to be the less challenging case, as policy-makers are supposed to fight against the persistence in the driving forces, especially to reduce the stickiness of inflation expectations by a credible monetary policy, in order to reestablish the ‘divine coincidence’. The scope of this dissertation is to contribute to the vast literature and ongoing discussion on inflation persistence: Chapter 1 describes the policy consequences of inflation persistence and summarizes the empirical and theoretical literature. Chapter 2 compares two models of staggered price setting, one with a fixed two-period duration and the other with a stochastic duration of prices. I show that in an economy with a timeless optimizing central bank the model with the two-period alternating price-setting (for most parameter values) leads to more persistent inflation than the model with stochastic price duration. This result amends earlier work by Kiley (2002) who found that the model with stochastic price duration generates more persistent inflation in response to an exogenous monetary shock. Chapter 3 extends the two-period alternating price-setting model to the case of 3- and 4-period price durations. This results in a more complex Phillips curve with a negative impact of past inflation on current inflation. As simulations show, this multi-period Phillips curve generates a too low degree of autocorrelation and too early turnings points of inflation and is outperformed by a simple Hybrid Phillips curve. Chapter 4 starts from the critique of Driscoll and Holden (2003) on the relative real-wage model of Fuhrer and Moore (1995). While taking the critique seriously that Fuhrer and Moore’s model will collapse to a much simpler one without intrinsic inflation persistence if one takes their arguments literally, I extend the model by a term for inequality aversion. This model extension is not only in line with experimental evidence but results in a Hybrid Phillips curve with inflation persistence that is observably equivalent to that presented by Fuhrer and Moore (1995). In chapter 5, I present a model that especially allows to study the relationship between fairness attitudes and time preference (impatience). In the model, two individuals take decisions in two subsequent periods. In period 1, both individuals are endowed with resources and are able to donate a share of their resources to the other individual. In period 2, the two individuals might join in a common production after having bargained on the split of its output. The size of the production output depends on the relative share of resources at the end of period 1 as the human capital of the individuals, which is built by means of their resources, cannot fully be substituted one against each other. Therefore, it might be rational for a well-endowed individual in period 1 to act in a seemingly ‘fair’ manner and to donate own resources to its poorer counterpart. This decision also depends on the individuals’ impatience which is induced by the small but positive probability that production is not possible in period 2. As a general result, the individuals in the model economy are more likely to behave in a ‘fair’ manner, i.e., to donate resources to the other individual, the lower their own impatience and the higher the productivity of the other individual. As the (seemingly) ‘fair’ behavior is modelled as an endogenous outcome and as it is related to the aspect of time preference, the presented framework might help to further integrate behavioral economics and macroeconomics.

Grupo de trabajo on line de prevenci??n de riesgos

Se presenta experiencia educativa que propone el proceso de formaci??n y desarrollo de un grupo de trabajo formado por profesorado de las distintas etapas educativas. Lo realiza la Delegaci??n de Educaci??n de Granada. El objetivo principal es: fomentar una aut??ntica cultura preventiva mediante la promoci??n de la mejora de la educaci??n en dicha materia en todos los ??mbitos educativos.

Model-Based Matching of Line Drawings by Linear Combinations of Prototypes

We describe a technique for finding pixelwise correspondences between two images by using models of objects of the same class to guide the search. The object models are 'learned' from example images (also called prototypes) of an object class. The models consist of a linear combination ofsprototypes. The flow fields giving pixelwise correspondences between a base prototype and each of the other prototypes must be given. A novel image of an object of the same class is matched to a model by minimizing an error between the novel image and the current guess for the closest modelsimage. Currently, the algorithm applies to line drawings of objects. An extension to real grey level images is discussed.

On Degeneracy of Linear Reconstruction from Three Views: Linear Line Complex and Applications

This paper investigates the linear degeneracies of projective structure estimation from point and line features across three views. We show that the rank of the linear system of equations for recovering the trilinear tensor of three views reduces to 23 (instead of 26) in the case when the scene is a Linear Line Complex (set of lines in space intersecting at a common line) and is 21 when the scene is planar. The LLC situation is only linearly degenerate, and we show that one can obtain a unique solution when the admissibility constraints of the tensor are accounted for. The line configuration described by an LLC, rather than being some obscure case, is in fact quite typical. It includes, as a particular example, the case of a camera moving down a hallway in an office environment or down an urban street. Furthermore, an LLC situation may occur as an artifact such as in direct estimation from spatio-temporal derivatives of image brightness. Therefore, an investigation into degeneracies and their remedy is important also in practice.

Cell-line Engineering of Chinese Hamster Ovary Cells for Low-temperature Culture

Developments in mammalian cell culture and recombinant technology has allowed for the production of recombinant proteins for use as human therapeutics. Mammalian cell culture is typically operated at the physiological temperature of 37°. However, recent research has shown that the use of low-temperature conditions (30-33°) as a platform for cell-culture results in changes in cell characteristics, such as increased specific productivity and extended periods of cell viability, that can potentially improve the production of recombinant proteins. Furthermore, many recent reports have focused on investigating low-temperature mammalian cell culture of Chinese hamster ovary (CHO) cells, one of the principal cell-lines used in industrial production of recombinant proteins. Exposure to low ambient temperatures exerts an external stress on all living cells, and elicits a cellular response. This cold-stress response has been observed in bacteria, plants and mammals, and is regulated at the gene level. The exact genes and molecular mechanisms involved in the cold-stress response in prokaryotes and plants have been well studied. There are also various reports that detail the modification of cold-stress genes to improve the characteristics of bacteria or plant cells at low temperatures. However, there is very limited information on mammalian cold-stress genes or the related pathways governing the mammalian cold-stress response. This project seeks to investigate and characterise cold-stress genes that are differentially expressed during low-temperature culture of CHO cells, and to relate them to the various changes in cell characteristics observed in low-temperature culture of CHO cells. The gene information can then be used to modify CHO cell-lines for improved performance in the production of recombinant proteins.

Optimizing Product Line Designs: Efficient Methods and Comparisons

We compare a broad range of optimal product line design methods. The comparisons take advantage of recent advances that make it possible to identify the optimal solution to problems that are too large for complete enumeration. Several of the methods perform surprisingly well, including Simulated Annealing, Product-Swapping and Genetic Algorithms. The Product-Swapping heuristic is remarkable for its simplicity. The performance of this heuristic suggests that the optimal product line design problem may be far easier to solve in practice than indicated by complexity theory.

Em-Line!

Investigadors del grup VICOROB de la UdG participen en els assajos clínics del projecte EM-Line! Es tracta d’un programa perquè els afectats d’esclerosi múltiple puguin fer rehabilitació cognitiva des de casa seva

Context constraints, prior vocabulary knowledge and on-line inferences in reading

Resumen tomado de la publicaci??n

10 easy steps to ease on-line communication

There are many different ways to communicate on-line now days from chat rooms, forums to e-mail, instant messaging, blogs and personal spaces. Some have clearly stated rules and some depend on unwritten codes of behaviour. Here are a few general tips provided that will hopefully make those occasions where learning and teaching are taking place more worthwhile.

Caracterización factores asociados con caídas de pacientes adultos hospitalizados en una institución de alta complejidad, Bogotá D.C.

Introducción: Las caídas son un riesgo hospitalario, y constituyen un indicador de calidad asistencial.Para la Joint Commission, en el 2008, las caídas fueron el quinto evento mas notificado. Objetivo: Caracterizar los pacientes que presentaron caídas, los factores asociados, las circunstancias y el tiempo alrededor del evento. Metodología: Diseño cuantitativo descriptivo exploratorio retrospectivo, se incluyeron 135 casos reportados al programa institucional de paciente seguro durante el año 2010. Se analizaron 57 variables haciendo caracterización de factores asociados, inherentes al paciente, circunstancias asociadas al evento y las consecuencias y manejo. Adicionalmente se evaluó el tiempo hasta la caída a través de análisis de sobrevida. Resultados: Mayor proporción de caídas en pacientes masculinos 54,1%, consumo de hipotensores no diuréticos y diuréticos en el 25,9% de los casos. En el 48,1 % de los casos no se contaban con acceso al timbre. Adicionalmente el turno de la noche mostró concentración de caídas y los pacientes presentaron trauma de tejidos blandos en el 57% de los casos y trauma craneoencefálico en el 41,5%. Se encontró en el análisis de tiempo hasta la presentación de caídas por unidades hospitalarias diferencia entre hospitalización de urgencias y el piso cuarto de hospitalización (p<0,000) y el piso octavo de hospitalización (p: 0,001). Conclusiones El reporte de caídas permite conocer el perfil del paciente que sufre este evento en el Hospital Universitario Mayor, identificando posibles factores. Es fundamental continuar investigaciones en esta línea, dado que pueden impactar de forma positiva la seguridad de los pacientes .

An??lisis de una comunidad on-line a partir de su lista de discusi??n : el caso de Edutec-L

Resumen tomado del autor. Incluye gr??ficos e im??genes

Creación de comunidades on-line : la negociación de las necesidades y los deseos de l@s alumn@s en el ciberespacio.

Resumen tomado del autor

Projecting Yourself On-Line

Discusses the difference between how a student might project themself in social software and on a web page. Also discusses some of the risks of on-line presence.

Estudio de factibilidad Comercilizadora On-line en Colombia

Internet cambio la forma de hacer negocios, modifico la dinámica del comercio y abrió un gran número de nuevas posibilidades para las empresas con iniciativa de crecimiento. Es indudable que Internet influye cada vez más en las actividades de las personas y de las empresas. Con cerca de 2 mil millones de usuarios en el mundo, y casi 20 millones en Colombia, Internet alcanza directamente a la tercera parte de la población. En este contexto, surge este proyecto de investigación con el objetivo de analizar la factibilidad de comercializar productos por internet y contribuir al desarrollo del comercio electrónico. En primera instancia se realiza un proceso de contextualización en el que se describe el desarrollo del comercio electrónico. En seguida y a manera descriptiva, se expone la situación actual de la comercialización de productos por internet en términos económicos, legales, organizacionales y estadísticos. Finalmente, se evalúa y analiza cada uno de los aspectos del modelo de negocio de comercialización online con el objeto de cumplir con los estándares de calidad del comercio electrónico a nivel internacional para generar de tal manera, la satisfacción de los usuarios que realizan compras por internet y por ende incrementos en la frecuencia de compras, logrando abrir las puertas del comercio electrónico para aprovechar todo su potencial y habilitar nuevos canales para vender productos y servicios a usuarios cada vez más sofisticados. Finalmente se realiza un estudio financiero en el que se evalúa la viabilidad del negocio en el ámbito financiero , realizando unas proyecciones a 10 años del flujo de caja con sus respectivos indicadores financieros que me ayuda a medir que tan factible y beneficiosa es el modelo de negocio.