A mixed splicing procedure for economic time series

This note develops a flexible methodology for splicing economic time series that avoids the extreme assumptions implicit in the procedures most commonly used in the literature. It allows the user to split the required correction to the older of the series being linked between its levels and growth rates on the basis what he knows or conjectures about the persistence of the factors that account for the discrepancy between the two series that emerges at their linking point. The time profile of the correction is derived from the assumption that the error in the older series reflects the inadequate coverage of emerging sectors or activities that grow faster than the aggregate.

Nash equilibrium strategies in discrete-time finite-horizon dynamic games with risk-and effort-averse players

The objective of this paper is to re-examine the risk-and effort attitude in the context of strategic dynamic interactions stated as a discrete-time finite-horizon Nash game. The analysis is based on the assumption that players are endogenously risk-and effort-averse. Each player is characterized by distinct risk-and effort-aversion types that are unknown to his opponent. The goal of the game is the optimal risk-and effort-sharing between the players. It generally depends on the individual strategies adopted and, implicitly, on the the players' types or characteristics.

The Part-time pay penalty in a segmented labor market

This paper is the first to examine the implications of switching to PT work for women's subsequent earnings trajectories, distinguishing by their type of contract: permanent or fixedterm. Using a rich longitudinal Spanish data set from Social Security records of over 76,000 prime-aged women strongly attached to the Spanish labor market, we find that PT work aggravates the segmentation of the labor market insofar there is a PT pay penalty and this penalty is larger and more persistent in the case of women with fixed-term contracts. The paper discusses problems arising in empirical estimation (including a problem not discussed in the literature up to now: the differential measurement error of the LHS variable by PT status), and how to address them. It concludes with policy implications relevant for Continental Europe and its dual structure of employment protection.

Dimensionality of drinking consequences - cross-cultural comparability and stability over time

Despite the long tradition for asking about the negative social and health consequences of alcohol consumption in surveys, little is known about the dimensionality of these consequences. Analysing cross-sectional and longitudinal data from the Nordic Taxation Study collected for Sweden, Finland, and Denmark in two waves in 2003 and 2004 by means of an explorative principal component analysis for categorical data (CATPCA), it is tested whether consequences have a single underlying dimension across cultures. It further tests the reliability, replicability, concurrent and predictive validity of the consequence scales. A one-dimensional solution was commonly preferable. Whereas the two-dimensional solution was unable to distinguish clearly between different concepts of consequences, the one-dimensional solution resulted in interpretable, generally very stable scales within countries across different samples and time.

Influència del context geològic i hidrogeològic en l'eficiència energètica dels sistemes geotèrmics de molt baixa entalpia

L’elevat consum energètic de les societats actuals, així com la impossibilitat de sostenir-lo a llarg termini implica la cerca de noves fonts d’energia. D’aquesta manera, en el camp de la climatització residencial, l’energia geotèrmica de molt baixa entalpia es posiciona com una alternativa als recursos energètics actuals. Així, els primers metres de subsòl presenten una temperatura adequada per al seu aprofitament calorífic, mitjançant els sistemes geotèrmics de bomba de calor. Si bé a nivell energètic, són sistemes, intrínsecament, molt eficients, el seu rendiment pot patir importants variacions davant dels canvis en les condicions del medi geològic i hidrogeològic. Especialment, els col·lectors de calor verticals, treballen, amb freqüència, en el si de les formacions hidrogeològiques. En aquest sentit, els canvis del nivell hidràulic i de la temperatura de l’aigua de l’aqüífer es manifesten amb variacions de la conductivitat tèrmica equivalent i del flux subterrani d’aigua, que alhora, aquestes, es tradueixen en alteracions del flux subterrani de calor. Davant d’aquest fet, l’avaluació quantitativa de l’efecte d’aquestes fluctuacions que es presenta en aquest treball mostra petites variacions del nivell hidràulic i de la temperatura de l’aigua comporten canvis molt notables en l’eficiència dels sistemes verticals de bomba de calor geotèrmica.

Dynamic calibration of our sense of time.

An accurate sense of time contributes to functions ranging from the perception and anticipation of sensory events to the production of coordinated movements. However, accumulating evidence demonstrates that time perception is subject to strong illusory distortion. In two experiments, we investigated whether the subjective speed of temporal perception is dependent on our visual environment. By presenting human observers with speed-altered movies of a crowded street scene, we modulated performance on subsequent production of "20s" elapsed intervals. Our results indicate that one's visual environment significantly contributes to calibrating our sense of time, independently of any modulation of arousal. This plasticity generates an assay for the integrity of our sense of time and its rehabilitation in clinical pathologies.