Price level convergence, purchasing power parity and multiple structural breaks: an application to US cities

This article provides a fresh methodological and empirical approach for assessing price level convergence and its relation to purchasing power parity (PPP) using annual price data for seventeen US cities. We suggest a new procedure that can handle a wide range of PPP concepts in the presence of multiple structural breaks using all possible pairs of real exchange rates. To deal with cross-sectional dependence, we use both cross-sectional demeaned data and a parametric bootstrap approach. In general, we find more evidence for stationarity when the parity restriction is not imposed, while imposing parity restriction provides leads toward the rejection of the panel stationar- ity. Our results can be embedded on the view of the Balassa-Samuelson approach, but where the slope of the time trend is allowed to change in the long-run. The median half-life point estimate are found to be lower than the consensus view regardless of the parity restriction.

Using active learning for monitoring networks design: The example of wind power plants sites evaluation

Locating new wind farms is of crucial importance for energy policies of the next decade. To select the new location, an accurate picture of the wind fields is necessary. However, characterizing wind fields is a difficult task, since the phenomenon is highly nonlinear and related to complex topographical features. In this paper, we propose both a nonparametric model to estimate wind speed at different time instants and a procedure to discover underrepresented topographic conditions, where new measuring stations could be added. Compared to space filling techniques, this last approach privileges optimization of the output space, thus locating new potential measuring sites through the uncertainty of the model itself.

On the Relationship between Market Power and Bank Risk Taking

We analyse risk-taking behaviour of banks in the context of spatial competition. Banks mobilise unsecured deposits by offering deposit rates, which they invest either in a prudent or a gambling asset. Limited liability along with high return of a successful gamble induce moral hazard at the bank level. We show that when the market power is low, banks invest in the gambling asset. On the other hand, for sufficiently high levels of market power, all banks choose the prudent asset to invest in. We further show that a merger of two neighboring banks increases the likelihood of prudent behaviour. Finally, introduction of a deposit insurance scheme exacerbates banks’ moral hazard problem.

The economics of power and control

John Hardman Moore outlines his joint research with Oliver Hart, looking at the economics of power and control and the foundations of contractual incompleteness

Factors Affecting the Financial Success of Motion Pictures: What is the Role of Star Power?

In the mid-1940s, American film industry was on its way up to its golden era as studios started mass-producing iconic feature films. The escalating increase in popularity of Hollywood stars was actively suggested for its direct links to box office success by academics. Using data collected in 2007, this paper carries out an empirical investigation on how different factors, including star power, affect the revenue of ‘home-run’ movies in Hollywood. Due to the subjective nature of star power, two different approaches were used: (1) number of nominations and wins of Academy Awards by the key players, and (2) average lifetime gross revenue of films involving the key players preceding the sample year. It is found that number of Academy awards nominations and wins was not statistically significant in generating box office revenue, whereas star power based on the second approach was statistically significant. Other significant factors were critics’ reviews, screen coverage and top distributor, while number of Academy awards, MPAA-rating, seasonality, being a sequel and popular genre were not statistically significant.

Water scarcity, social power and the production of an elite suburb: the political ecology of water in Matadepera, Catalonia

This article investigates the history of land and water transformations in Matadepera, a wealthy suburb of metropolitan Barcelona. Analysis is informed by theories of political ecology and methods of environmental history; although very relevant, these have received relatively little attention within ecological economics. Empirical material includes communications from the City Archives of Matadepera (1919-1979), 17 interviews with locals born between 1913 and 1958, and an exhaustive review of grey historical literature. Existing water histories of Barcelona and its outskirts portray a battle against natural water scarcity, hard won by heroic engineers and politicians acting for the good of the community. Our research in Matadepera tells a very different story. We reveal the production of a highly uneven landscape and waterscape through fierce political and power struggles. The evolution of Matadepera from a small rural village to an elite suburb was anything but spontaneous or peaceful. It was a socio-environmental project well intended by landowning elites and heavily fought by others. The struggle for the control of water went hand in hand with the land and political struggles that culminated – and were violently resolved - in the Spanish Civil War. The displacement of the economic and environmental costs of water use from few to many continues to this day and is constitutive of Matadepera’s uneven and unsustainable landscape. By unravelling the relations of power that are inscribed in the urbanization of nature (Swyngedouw, 2004), we question the perceived wisdoms of contemporary water policy debates, particularly the notion of a natural scarcity that merits a technical or economic response. We argue that the water question is fundamentally a political question of environmental justice; it is about negotiating alternative visions of the future and deciding whose visions will be produced.

Are Dictators Immune to Human Rights Shaming?

This paper examines whether human rights naming and shaming destabilizes the rule of authoritarian leaders. We argue that human rights shaming can destabilize autocratic leaders by signaling international disapproval to elites in the targeted country, increasing their capacity to replace the incumbent. In personalist regimes, shaming increases the risk of irregular exit because regime elite do not have a means to peacefully replace the incumbent. Shaming campaigns also decrease foreign aid and international trade in personalist regimes, denying the leader access to resources to pay his coalition – further destabilizing his rule. In non-personalist regimes where parties or the military allow elites to peacefully replace incumbents, human rights shaming increases the risk of regular turnover of power, but has little effect on the risk of irregular exit or international flows of aid and trade. These findings have implications for understanding when and where shaming campaigns are likely to reduce or deter repression.

Resources of medicinal plants in China

Four aspect dealts with in this paper are as follows: 1. environment of medicinal plants; 2. brief history on studies of medicinal plants; 3. species of medicinal plants; 4. studies on development and utilization of medicinal plant resources.

Gestor d'entorns virtuals per a l'execució de tasques d'altes prestacions

Amb l'evolució de la tecnologia les capacitats de còmput es van incrementant i problemes irresolubles del passat deixen de ser-ho amb els recursos actuals. La majoria d'aplicacions que s'enfronten a aquests problemes són complexes, ja que per aconseguir taxes elevades de rendiment es fa necessari utilitzar el major nombre de recursos possibles, i això les dota d'una arquitectura inherentment distribuïda. Seguint la tendència de la comunitat investigadora, en aquest treball de recerca es proposa una arquitectura per a entorns grids basada en la virtualització de recursos que possibilita la gestió eficient d'aquests recursos. L'experimentació duta a terme ha permès comprovar la viabilitat d'aquesta arquitectura i la millora en la gestió que la utilització de màquines virtuals proporciona.

Cognition, Resources, and Institutions in the Explanation of Attitudes to Free Trade

This article proposes a framework for the analysis of attitudes to foreign trade policies that challenges the traditional skill-endowment approach. The traditional approach assumes informed individuals who calculate the costs and benefits of alternative policies. We propose that individuals lack information and that their positions rest on economic vulnerability, as mediated through risk-aversion. We also stress the role of environmental signals and political endorsements in guiding individuals' views on trade policy. We test this alternative approach with a Spanish survey conducted in May 2009 and the ISSP survey conducted in 2003 in a large number of less developed and more developed countries. The Spanish data show that the population is largely uninformed and that their ideas about the consequences of free trade policy do not explain attitudes among different socio-demographic groups. Meanwhile, the ISSP data contradict important aspects of the traditional approach and are consistent with the alternative approach.

Weak-type estimates for Haar shift operators: Sharp power on the A(p) characteristic

"Vegeu el resum a l'inici del document del fitxer adjunt."

Desconnexió de la xarxa

Treball de recerca realitzat per un alumne d'ensenyament secundari i guardonat amb un Premi CIRIT per fomentar l'esperit cientí­fic del Jovent l'any 2009. Aquest treball es planteja com un repte la necessitat de connexió a una xarxa de subministrament elèctric i d'aigua. L'objectiu del treball ha estat comprovar si, tan tècnicament com econòmica, es pot aconseguir l'autosuficiència d'una casa de muntanya del Vallès Oriental tot aprofitant els recursos que ens ofereix el medi, però sense haver de renunciar al nivell de vida al qual ens hem acostumat durant els darrers anys. Després d'una recollida de dades i valoració del consum energètic mínim que volem imposar, hem dissenyat una instal·lació capaç d'aprofitar les energies renovables de l'entorn i de satisfer les nostres necessitats. La instal·lació inclou plaques fotovoltaiques, col·lectors solars, cisternes per a la recollida d'aigua, bombes, etc. Finalment, s'inclou un pressupost d'aquesta instal·lació, que indica que els diners que caldria invertir són massa. Es demostra, doncs, que l'autosuficiència d'aquesta casa és tècnicament viable, però econòmicament inviable (o gens rendible).

El bosc dels fartets o la història d'una depuradora ecològica

Treball de recerca realitzat per una alumna d'ensenyament secundari i guardonat amb un Premi CIRIT per fomentar l'esperit científic del Jovent l'any 2009. Aquest treball té per objectiu plantejar el disseny d’una depuradora ecològica i un petit bosc de ribera amb la finalitat de divulgar i reivindicar el paper crucial que juguen les zones humides en el gran ecosistema de la Terra. Davant l’imminent esgotament de les principals energies fòssils i la manca de recursos tant bàsics com l’aigua, es pretén insistir en els molts avantatges d’importar la capacitat depuradora de les zones humides com a tecnologia alternativa per tractar aigües residuals industrials, agrícoles i urbanes, amb una despesa energètica pràcticament nul•la i uns beneficis ecològics, econòmics i de cost de la oportunitat més que evidents. El reciclatge d’aigües residuals es presenta com un dels reptes més importants de les societats actuals. La denominada fitodepuració aprofita el poder refinador de la vegetació present en les zones humides per reduir o eliminar contaminants de l’aigua mitjançant una sèrie de complexos processos biològics i fisicoquímics que la natura, en la seva dinàmica perfecte, ha dissenyat durant 4500 milions d anys. I és en base a aquestes qualitats depuradores d’aquests ecosistemes aquàtics que sorgeix la figura de l’aiguamoll artificial.