Does the use of multiple FTAs force firms to raise local input share? : evidence of the spaghetti bowl phenomenon

This paper empirically investigates the firm-level relationship between the local input share and the number of used FTAs by employing the data on FTA utilization in Japanese affiliates in ASEAN. As a result, we do not find a robust linear relationship. However, affiliates using a large number of FTAs (seven or eight) have an extremely higher share of local inputs. This result might be interpreted as the first evidence of the “spaghetti bowl phenomenon”.

Spatial price equilibrium and the transport sector : a trade-consistent SCGE model

This paper presents a framework for an SCGE model that is compatible with the Armington assumption and explicitly considers transport activities. In the model, the trade coefficient takes the form of a potential function,and the equilibrium market price becomes similar to the price index of varietal goods in the context of new economic geography (NEG). The features of the model are investigated by using the minimal setting, which comprises two non-transport sectors and three regions. Because transport costs are given exogenously to facilitate study of their impacts, commodity prices are also determined relative to them. The model can be described as a system of homogeneous equations, where an output in one region can arbitrarily be determined similarly as a price in the Walrasian equilibrium. The model closure is sensitive to formulation consistency so that homogeneity of the system would be lost by use of an alternative form of trade coefficients.

Is there any premium for unobservable quality? : a hedonic price analysis of the Malagasy rice market

This paper examines if consumers pay a premium for unobservable quality in the absence of quality standards and/or quality grading systems and, if so, how they assess that unobservable quality, using a rice retail market in Madagascar as an example. In Madagascar, the lack of quality standards and/or grading systems for rice makes is considered to be one of the causes of the rice market's spatial disintegration. Thus, quality standards and grading systems will be necessary to increase the market's efficiency. We hypothesize that consumers and retailers use product origin and rice name as observable indictors of unobservable quality and test the hypothesis using hedonic price regressions. We find that the interaction terms of product origin and rice name significantly affect the price after controlling for both observable quality and spatial and temporal price variation, but that the contribution of product origin and rice name to rice price variation is smaller than spatial and temporal factors. We thus conclude that consumers pay a premium for unobservable quality throughout Madagascar. This finding implies that quality standards and/or grading systems will work in the Malagasy market and that improving market infrastructure such as roads and storage will make them even more effective.

Price Formation and Real Estate Characteristics Residential Real Estate, Lisbon - Portugal

Análisis del proceso de formación de precios en el mercado residencial de Lisboa desde el punto de vista de la eliminación de los aspectos subjetivos de la apreciación por el tasador de las características de los inmuebles

Plan anual de una compañía distribuidora de productos petrolíferos

El alcance de este proyecto consiste en elaborar el plan anual teórico de una compañía distribuidora de productos petrolíferos, que tiene como objetivo mantener los niveles de cuota en el mercado nacional de carburantes de estaciones de servicio, evaluando las rentabilidades conseguidas. El mercado de carburantes de automoción esta reduciéndose de forma importante desde el comienzo de la crisis, por lo que es necesario realizar un análisis profundo de ingresos (ventas y márgenes) y costes (fijos y variables), así como de las inversiones a realizar. Se deduce del estudio que la rentabilidad de la compañía es relativamente alta pero viene dada por un gran número de variables, internas y externas a la propia compañía. En definitiva, el negocio de las estaciones de servicio se basa en un producto con muy bajo margen e impuestos muy altos y es por ello que la competencia a nivel de precios esta muy limitada. Además y dado el nivel de inversiones y costes es necesario un volumen de ventas alto para poder conseguir superar el punto de equilibrio económico. ABSTRACT The scope of this project is to develop the theoretical annual plan of an oil products distribution company, which aims to maintain the levels of market share in the service stations market, assessing the returns achieved. The motor fuels market is decreasing significantly since the beginning of the crisis, making it necessary to conduct a thorough analysis of revenue (sales and margins) and costs (fixed and variable), as well as investments to be made . It follows from the study that the company's profitability is relatively high but is given by a large number of variables, internals and externals to the company. In short, the service stations business is based on a product with very low margin and that is the reason that the price competition level is very limited. Moreover, given the level of investments and costs is necessary to sale a high volume in order to get beyond the break even.

Ontology-based access to sensor data streams

Sensor networks are increasingly becoming one of the main sources of Big Data on the Web. However, the observations that they produce are made available with heterogeneous schemas, vocabularies and data formats, making it difficult to share and reuse these data for other purposes than those for which they were originally set up. In this thesis we address these challenges, considering how we can transform streaming raw data to rich ontology-based information that is accessible through continuous queries for streaming data. Our main contribution is an ontology-based approach for providing data access and query capabilities to streaming data sources, allowing users to express their needs at a conceptual level, independent of implementation and language-specific details. We introduce novel query rewriting and data translation techniques that rely on mapping definitions relating streaming data models to ontological concepts. Specific contributions include: • The syntax and semantics of the SPARQLStream query language for ontologybased data access, and a query rewriting approach for transforming SPARQLStream queries into streaming algebra expressions. • The design of an ontology-based streaming data access engine that can internally reuse an existing data stream engine, complex event processor or sensor middleware, using R2RML mappings for defining relationships between streaming data models and ontology concepts. Concerning the sensor metadata of such streaming data sources, we have investigated how we can use raw measurements to characterize streaming data, producing enriched data descriptions in terms of ontological models. Our specific contributions are: • A representation of sensor data time series that captures gradient information that is useful to characterize types of sensor data. • A method for classifying sensor data time series and determining the type of data, using data mining techniques, and a method for extracting semantic sensor metadata features from the time series.

SPARQL-DL queries for antipattern detection

Ontology antipatterns are structures that reflect ontology modelling problems, they lead to inconsistencies, bad reasoning performance or bad formalisation of domain knowledge. Antipatterns normally appear in ontologies developed by those who are not experts in ontology engineering. Based on our experience in ontology design, we have created a catalogue of such antipatterns in the past, and in this paper we describe how we can use SPARQL-DL to detect them. We conduct some experiments to detect them in a large OWL ontology corpus obtained from the Watson ontology search portal. Our results show that each antipattern needs a specialised detection method.

Antipattern detection in web ontologies: an experiment using SPARQL queries

Ontology antipatterns are structures that reflect ontology modelling problems because they lead to inconsistencies, bad reasoning performance or bad formalisation of domain knowledge. We propose four methods for the detection of antipatterns using SPARQL queries.We conduct some experiments to detect antipattern in a corpus of OWL ontologies.

Factors influencing metal price selection in mining feasibility studies

The mineral price assigned in mining project design is critical to determining the economic feasibility of a project. Nevertheless, although it is not difficult to find literature about market metal prices, it is much more complicated to achieve a specific methodology for calculating the value or which justifications are appropriate to include. This study presents an analysis of various methods for selecting metal prices and investigates the mechanisms and motives underlying price selections. The results describe various attitudes adopted by the designers of mining investment projects, and how the price can be determined not just by means of forecasting but also by consideration of other relevant parameters.

Analysis of the Iberian Power Forward Price Formation

The price formation of the Iberian Energy Derivatives Market-the power futures market-starting in July 2006, is assessed until November 2011, through the evolution of the difference between forward and spot prices in the delivery period (“ex-post forward risk premium”) and the comparison with the forward generation costs from natural gas (“clean spark spread”). The premium tends to be positive in all existing mechanisms (futures, Over-the-Counter and auctions for catering part of the last resort supplies). Since year 2011, the values are smaller due to regulatorily recognized prices for coal power plants. The power futures are strongly correlated with European gas prices. The spreads built with prompt contracts tend also to be positive. The biggest ones are for the month contract, followed by the quarter contract and then by the year contract. Therefore, gas fired generation companies can maximize profits trading with contracts of shorter maturity.

Federating queries in SPARQL 1.1: syntax, semantics and evaluation

Given the sustained growth that we are experiencing in the number of SPARQL endpoints available, the need to be able to send federated SPARQL queries across these has also grown. To address this use case, the W3C SPARQL working group is defining a federation extension for SPARQL 1.1 which allows for combining graph patterns that can be evaluated over several endpoints within a single query. In this paper, we describe the syntax of that extension and formalize its semantics. Additionally, we describe how a query evaluation system can be implemented for that federation extension, describing some static optimization techniques and reusing a query engine used for data-intensive science, so as to deal with large amounts of intermediate and final results. Finally we carry out a series of experiments that show that our optimizations speed up the federated query evaluation process.

An Empirical Analysis of the Spanish Gas Price Structure

We can say without hesitation that in energy markets a throughout data analysis is crucial when designing sophisticated models that are able to capture most of the critical market drivers. In this study we will attempt to investigate into Spanish natural gas prices structure to improve understanding of the role they play in the determination of electricity prices and decide in the future about price modelling aspects. To further understand the potential for modelling, this study will focus on the nature and characteristics of the different gas price data available. The fact that the existing gas market in Spain does not incorporate enough liquidity of trade makes it even more critical to analyze in detail available gas price data information that in the end will provide relevant information to understand how electricity prices are affected by natural gas markets. In this sense representative Spanish gas prices are typically difficult to explore given the fact that there is not a transparent gas market yet and all the gas imported in the country is negotiated and purchased by private companies at confidential terms.

Electricity price forecasting accounting for renewable energies: optimal combined forecasts

Electricity price forecasting is an interesting problem for all the agents involved in electricity market operation. For instance, every profit maximisation strategy is based on the computation of accurate one-day-ahead forecasts, which is why electricity price forecasting has been a growing field of research in recent years. In addition, the increasing concern about environmental issues has led to a high penetration of renewable energies, particularly wind. In some European countries such as Spain, Germany and Denmark, renewable energy is having a deep impact on the local power markets. In this paper, we propose an optimal model from the perspective of forecasting accuracy, and it consists of a combination of several univariate and multivariate time series methods that account for the amount of energy produced with clean energies, particularly wind and hydro, which are the most relevant renewable energy sources in the Iberian Market. This market is used to illustrate the proposed methodology, as it is one of those markets in which wind power production is more relevant in terms of its percentage of the total demand, but of course our method can be applied to any other liberalised power market. As far as our contribution is concerned, first, the methodology proposed by García-Martos et al(2007 and 2012) is generalised twofold: we allow the incorporation of wind power production and hydro reservoirs, and we do not impose the restriction of using the same model for 24h. A computational experiment and a Design of Experiments (DOE) are performed for this purpose. Then, for those hours in which there are two or more models without statistically significant differences in terms of their forecasting accuracy, a combination of forecasts is proposed by weighting the best models(according to the DOE) and minimising the Mean Absolute Percentage Error (MAPE). The MAPE is the most popular accuracy metric for comparing electricity price forecasting models. We construct the combi nation of forecasts by solving several nonlinear optimisation problems that allow computation of the optimal weights for building the combination of forecasts. The results are obtained by a large computational experiment that entails calculating out-of-sample forecasts for every hour in every day in the period from January 2007 to Decem ber 2009. In addition, to reinforce the value of our methodology, we compare our results with those that appear in recent published works in the field. This comparison shows the superiority of our methodology in terms of forecasting accuracy.

Impact of introducing longer and heavier vehicles on regional consumer price index and Spanish road freight transport system

This paper applies an integrated modeling approach to the case of Spain; the approach is based on a random utility-based multiregional input-output model and a road transport network model for assessing the effect of introducing longer and heavier vehicles (LHVs) on the regional consumer price index (CPI) and on the transportation system. The approach strongly supports the concept that changes in transport costs derived from the LHV allowance as well as the economic structure of regions have direct and indirect effects on the economy and on the transportation system. Results show that the introduction of LHVs might reduce prices paid by consumers for a representative basket of goods and services in the regions of Spain and would also lead to a reduction in the regional CPI. In addition, the magnitude and extent of changes in the transportation system are estimated by using the commodity-based structure of the approach to identify the effect of traffic changes on traffic flows and on pollutant emissions over the whole network.

Desarrollo de una aplicación Android para administración y gestión de la información de registro de servicios en una plataforma SOA

Este Proyecto Fin de Grado está enmarcado dentro de las actividades del GRyS (Grupo de Redes y Servicios de Próxima Generación) con las Smart Grids. En la investigación actual sobre Smart Grids se pretenden alcanzar los siguientes objetivos: . Integrar fuentes de energías renovables de manera efectiva. . Aumentar la eficiencia en la gestión de la demanda y suministro de forma dinámica. . Reducir las emisiones de CO2 dando prioridad a fuentes de energía verdes. . Concienciar del consumo de energía mediante la monitorización de dispositivos y servicios. . Estimular el desarrollo de un mercado vanguardista de tecnologías energéticamente eficientes con nuevos modelos de negocio. Dentro del contexto de las Smart Grids, el interés del GRyS se extiende básicamente a la creación de middlewares semánticos y tecnologías afines, como las ontologías de servicios y las bases de datos semánticas. El objetivo de este Proyecto Fin de Grado ha sido diseñar y desarrollar una aplicación para dispositivos con sistema operativo Android, que implementa una interfaz gráfica y los métodos necesarios para obtener y representar información de registro de servicios de una plataforma SOA (Service-Oriented Architecture). La aplicación permite: . Representar información relativa a los servicios y dispositivos registrados en una Smart Grid. . Guardar, cargar y compartir por correo electrónico ficheros HTML con la información anterior. . Representar en un mapa la ubicación de los dispositivos. . Representar medidas (voltaje, temperatura, etc.) en tiempo real. . Aplicar filtros por identificador de dispositivo, modelo o fabricante. . Realizar consultas SPARQL a bases de datos semánticas. . Guardar y cagar consultas SPARQL en ficheros de texto almacenados en la tarjeta SD. La aplicación, desarrollada en Java, es de código libre y hace uso de tecnologías estándar y abiertas como HTML, XML, SPARQL y servicios RESTful. Se ha tenido ocasión de probarla con la infraestructura del proyecto europeo e-Gotham (Sustainable-Smart Grid Open System for the Aggregated Control, Monitoring and Management of Energy), en el que participan 17 socios de 5 países: España, Italia, Estonia, Finlandia y Noruega. En esta memoria se detalla el estudio realizado sobre el Estado del arte y las tecnologías utilizadas en el desarrollo del proyecto, la implementación, diseño y arquitectura de la aplicación, así como las pruebas realizadas y los resultados obtenidos. ABSTRACT. This Final Degree Project is framed within the activities of the GRyS (Grupo de Redes y Servicios de Próxima Generación) with the Smart Grids. Current research on Smart Grids aims to achieve the following objectives: . To effectively integrate renewable energy sources. . To increase management efficiency by dynamically matching demand and supply. . To reduce carbon emissions by giving priority to green energy sources. . To raise energy consumption awareness by monitoring products and services. . To stimulate the development of a leading-edge market for energy-efficient technologies with new business models. Within the context of the Smart Grids, the interest of the GRyS basically extends to the creation of semantic middleware and related technologies, such as service ontologies and semantic data bases. The objective of this Final Degree Project has been to design and develop an application for devices with Android operating system, which implements a graphical interface and methods to obtain and represent services registry information in a Service-Oriented Architecture (SOA) platform. The application allows users to: . Represent information related to services and devices registered in a Smart Grid. . Save, load and share HTML files with the above information by email. . Represent the location of devices on a map. . Represent measures (voltage, temperature, etc.) in real time. . Apply filters by device id, model or manufacturer. . SPARQL query semantic database. . Save and load SPARQL queries in text files stored on the SD card. The application, developed in Java, is open source and uses open standards such as HTML, XML, SPARQL and RESTful services technologies. It has been tested in a real environment using the e-Gotham European project infrastructure (Sustainable-Smart Grid Open System for the Aggregated Control, Monitoring and Management of Energy), which is participated by 17 partners from 5 countries: Spain, Italy, Estonia, Finland and Norway. This report details the study on the State of the art and the technologies used in the development of the project, implementation, design and architecture of the application, as well as the tests performed and the results obtained.