An evaluation of the life-cycle effects of minimum pensions on retirement behavior

In this paper we explore the effects of the minimum pension program on welfare andretirement in Spain. This is done with a stylized life-cycle model which provides a convenient analytical characterization of optimal behavior. We use data from the Spanish Social Security to estimate the behavioral parameters of the model and then simulate the changes induced by the minimum pension in aggregate retirement patterns. The impact is substantial: there is threefold increase in retirement at 60 (the age of first entitlement) with respect to the economy without minimum pensions, and total early retirement (before or at 60) is almost 50% larger.

Minimum price variations, time priority and quotes dynamics

We analyze the impact of a minimum price variation (tick) and timepriority on the dynamics of quotes and the trading costs when competitionfor the order flow is dynamic. We find that convergence to competitiveoutcomes can take time and that the speed of convergence is influencedby the tick size, the priority rule and the characteristics of the orderarrival process. We show also that a zero minimum price variation is neveroptimal when competition for the order flow is dynamic. We compare thetrading outcomes with and without time priority. Time priority is shownto guarantee that uncompetitive spreads cannot be sustained over time.However it can sometimes result in higher trading costs. Empiricalimplications are proposed. In particular, we relate the size of thetrading costs to the frequency of new offers and the dynamics of theinside spread to the state of the book.

Minimum distance estimation of stationary and non-stationary ARFIMA processes

A new parametric minimum distance time-domain estimator for ARFIMA processes is introduced in this paper. The proposed estimator minimizes the sum of squared correlations of residuals obtained after filtering a series through ARFIMA parameters. The estimator iseasy to compute and is consistent and asymptotically normally distributed for fractionallyintegrated (FI) processes with an integration order d strictly greater than -0.75. Therefore, it can be applied to both stationary and non-stationary processes. Deterministic components are also allowed in the DGP. Furthermore, as a by-product, the estimation procedure provides an immediate check on the adequacy of the specified model. This is so because the criterion function, when evaluated at the estimated values, coincides with the Box-Pierce goodness of fit statistic. Empirical applications and Monte-Carlo simulations supporting the analytical results and showing the good performance of the estimator in finite samples are also provided.

Minimum requirements for application of ink dating methods based on solvent analysis in casework

Several ink dating methods based on solvents analysis using gas chromatography/mass spectrometry (GC/MS) were proposed in the last decades. These methods follow the drying of solvents from ballpoint pen inks on paper and seem very promising. However, several questions arose over the last few years among questioned documents examiners regarding the transparency and reproducibility of the proposed techniques. These questions should be carefully studied for accurate and ethical application of this methodology in casework. Inspired by a real investigation involving ink dating, the present paper discusses this particular issue throughout four main topics: aging processes, dating methods, validation procedures and data interpretation. This work presents a wide picture of the ink dating field, warns about potential shortcomings and also proposes some solutions to avoid reporting errors in court.

Aislamiento, identificación, clonación y análisis filogénico de la microalga Prorocentrum minimum (PAVILLARD) J. Schiller 1933 Aislada de la Bahía del Callao - Perú

Las Floraciones Algales Nocivas (FAN) o Mareas Rojas son decoloraciones del agua visible a simple vista debido a la proliferación de uno o más microorganismos planctónicos como las microalgas, estas pueden alcanzar niveles altos y producir efectos adversos a la salud humana, como también, causar daños a otros organismos marinos cercanos a la costa. Por tal motivo, existió el interés de aislar, identificar y hacer un estudio filogenético de la especie Prorocentrum minimum encontrada en la Bahía del Callao- Perú. Se realizaron varias tomas de muestras de agua de mar para su posterior identificación morfológica, se les efectuó la técnica de purificación de la microalga, y a su vez, se adquirió un estándar de Prorocentrum minimum del Instituto Provasoli- Guillard National Center for Culture of Marine Phytoplankton (CCMP), USA. Se realizó la curva de crecimiento para la concentración de la densidad microalgal, posteriormente se efectuó la extracción de ADN y la filogenia molecular a partir de las secuencias de las subunidades del ribosoma LSU rRNA de la especie Prorocentrum minimum. Se identificó P. minimum y P gracile, que fueron especies epibentónicos cercanas por ser más recientes evolutivamente. Para la confirmación de la presencia ausencia de alguna biotoxina marina en el cultivo de Prorocentrun minimum, se estableció un análisis cuantitativo de la dosis respuesta del animal en el bioensayo en ratón. Se logró obtener la purificación de cultivo de Prorocentrum minimum y estandarizar el protocolo de trabajo, se confirmó la filogenia de la especie de microalgas. No se logró obtener la toxina DSP del cultivo de la microalga.

Iowa Department of Transportation Major Items - Preliminary Quantity Report, April 19, 2011; With Addendums

Weekly letting report.

Iowa Department of Transportation Major Items - Preliminary Quantity Report, May 17, 2011; With Addendums

Weekly letting report.

The generalized index of maximum and minimum level and its application in decision making

[spa] El índice del máximo y el mínimo nivel es una técnica muy útil, especialmente para toma de decisiones, que usa la distancia de Hamming y el coeficiente de adecuación en el mismo problema. En este trabajo, se propone una generalización a través de utilizar medias generalizadas y cuasi aritméticas. A estos operadores de agregación, se les denominará el índice del máximo y el mínimo nivel medio ponderado ordenado generalizado (GOWAIMAM) y cuasi aritmético (Quasi-OWAIMAM). Estos nuevos operadores generalizan una amplia gama de casos particulares como el índice del máximo y el mínimo nivel generalizado (GIMAM), el OWAIMAM, y otros. También se desarrolla una aplicación en la toma de decisiones sobre selección de productos.

Iowa Department of Transportation Major Items - Preliminary Quantity Report, June 21, 2011; With Addendums

Weekly letting report.

Iowa Department of Transportation Major Items - Preliminary Quantity Report, July 19, 2011; With Addendums

Weekly letting report.

The generalized index of maximum and minimum level and its application in decision making

[spa] El índice del máximo y el mínimo nivel es una técnica muy útil, especialmente para toma de decisiones, que usa la distancia de Hamming y el coeficiente de adecuación en el mismo problema. En este trabajo, se propone una generalización a través de utilizar medias generalizadas y cuasi aritméticas. A estos operadores de agregación, se les denominará el índice del máximo y el mínimo nivel medio ponderado ordenado generalizado (GOWAIMAM) y cuasi aritmético (Quasi-OWAIMAM). Estos nuevos operadores generalizan una amplia gama de casos particulares como el índice del máximo y el mínimo nivel generalizado (GIMAM), el OWAIMAM, y otros. También se desarrolla una aplicación en la toma de decisiones sobre selección de productos.

Union power, minimum wage legislation endogenous labor supplies and production

The objective of this work is to study the impact of the unions' bargaining power on production and wages. We present a model where a competitive final good is produced through two substitutable intermediate goods, one produced by unskilled labor and the other by skilled labor. Potential workers decide at their cost to become skilled or unskilled and, thus, labor supplies are determined endogenously. We find that the reallocation of the labor supplies due to changes in the unskilled (or skilled) unions¿ bargaining power may have a positive impact on the final goods production. At the same time, total labor earnings increase with the unskilled unions¿ bargaining power if the final goods production increases too. We also show that the minimum wage legislation has efects similar to an increase in the bargaining power of the unskilled unions.

Iowa Department of Transportation Major Items - Preliminary Quantity Report, August 16, 2011; With Addendums

Weekly letting report.

Iowa Department of Transportation Major Items - Preliminary Quantity Report, September 20, 2011; With Addendums

Weekly letting report.

Iowa Department of Transportation Major Items - Preliminary Quantity Report, October 18, 2011; With Addendums

Weekly letting report.