Could the Exchange Rate Regime Reduce Macroeconomic Volatility?

This study intends to determine the relationship existing between the exchange rate regime and real volatility. After revising the theoretical and empirical results of previous research, it is proposed a new methodology that corrects deficiencies of previous empirical papers. The results show non-neutrality of the exchange rate regime. Particularly, it is found that the more rigid the regime is the grater real volatility will be. Even when it is performed an exchange rate regime classification that allows a comparison between consistent pegging and consistent floating, the former has a higher volatility. Countries with “fear of floating†behavior exhibit lower volatility than consistent pegsreal volatility, exchange rate regime, panel data

COULD THE EXCHANGE RATE REGIME REDUCE MACROECONOMIC VOLATILITY?

This study intends to determine the kind of relationship existing between the exchange rate regime and real volatility. After carefully revising theoretical and empirical results of previous research, a new methodology is proposed that corrects deficiencies found in previous empirical papers. The results show non-neutrality of the exchange rate regime. Particularly, it is found that the more rigid the regime, the greater the real volatility. Even when a classification of the exchange rate regime is performed allowing a comparison between consistent pegging and consistent floating, the former has a higher volatility. Countries with "fear of floating" or "inability of pegging" behavior exhibit lower volatility than consistent pegs.

Change Detection in Multivariate Datastreams: Likelihood and Detectability Loss

We address the problem of detecting changes in multivariate datastreams, and we investigate the intrinsic difficulty that change-detection methods have to face when the data dimension scales. In particular, we consider a general approach where changes are detected by comparing the distribution of the log-likelihood of the datastream over different time windows. Despite the fact that this approach constitutes the frame of several change-detection methods, its effectiveness when data dimension scales has never been investigated, which is indeed the goal of our paper. We show that the magnitude of the change can be naturally measured by the symmetric Kullback-Leibler divergence between the pre- and post-change distributions, and that the detectability of a change of a given magnitude worsens when the data dimension increases. This problem, which we refer to as \emph{detectability loss}, is due to the linear relationship between the variance of the log-likelihood and the data dimension. We analytically derive the detectability loss on Gaussian-distributed datastreams, and empirically demonstrate that this problem holds also on real-world datasets and that can be harmful even at low data-dimensions (say, 10)

Nonparametric and Online Change Detection in Multivariate Datastreams Using QuantTree

We address the problem of online change detection in multivariate datastreams, and we introduce QuantTree Exponentially Weighted Moving Average (QT-EWMA), a nonparametric change-detection algorithm that can control the expected time before a false alarm, yielding a desired Average Run Length (ARL 0 ). Controlling false alarms is crucial in many applications and is rarely guaranteed by online change-detection algorithms that can monitor multivariate datastreams without knowing the data distribution. Like many change-detection algorithms, QT-EWMA builds a model of the data distribution, in our case a QuantTree histogram, from a stationary training set. To monitor datastreams even when the training set is extremely small, we propose QT-EWMA-update, which incrementally updates the QuantTree histogram during monitoring, always keeping the ARL0 under control. Our experiments, performed on synthetic and real-world datastreams, demonstrate that QT-EWMA and QT-EWMA-update control the ARL0 and the false alarm rate better than state-of-the-art methods operating in similar conditions, achieving lower or comparable detection delays

Music Education Teachers' Knowledge and Use of ICT at Spanish Universities

Knowledge and use of information and communication technology (ICT) are especially important for teachers since, in addition to ICT being a key element of the teaching and learning process, how teacher use it influences whether students use it inside and outside the classroom. This article identifies the knowledge of ICT that teachers from the area of music education at Spanish universities have and how they use it, as well as their training and their views on its advantages and disadvantages in teaching and learning processes. To do this, we used an ad hoc questionnaire with a valid sample of 112 teachers. The results indicate that teachers are aware of the benefits of ICT in their own teaching and in the professional future of the students. They kept the educational needs of the students very much in mind when choosing each resource. Despite knowing the benefits, the teachers did not train their students to learn how to use ICT. The biggest concern was the technological and gender gap identified

Modelos para procesos Auger en iones lentos sobre superficies metálicas

Tesis Doctoral inédita leída en la Universidad Autónoma de Madrid, Facultad de Ciencias, Departamento de Física Teórica de la Materia Condensada. Fecha de lectura 15-06-200

Estudio de las propiedades de las cubiertas verdes con el objetivo de mejora la resilencia de las ciudades

RESUMEN: El presente Trabajo Fin de Máster tiene como objetivo fundamental llevar a cabo un análisis multicriterio a través de diferentes indicadores seleccionados bajo criterios de sostenibilidad, empleando el método ELECTRE, sobre una serie de sustratos y capas separadoras propuestas con el fin de realizar una recomendación de utilización de aquellos materiales que mejor respondan a los indicadores propuestos de tipo medioambiental, social y económico. Para realizar este análisis, la importancia otorgada a cada indicador será evaluada a través de la bibliografía consultada, de la consulta a expertos del sector y, finalmente, a partir del juicio de los directores y el autor del proyecto. Los materiales estudiados responden a tres categorías diferentes: material habitual de recurrente utilización en aplicaciones de cubiertas vegetadas; material reciclado o reutilizado y material novedoso, de propuesta propia, del que no existan evidencias de un uso recurrente en este campo. Son los que siguen: • Sustratos: mezcla de tierra vegetal, gravilla calcárea y arena silícea; mezcla de tierra vegetal, ladrillo reciclado triturado y arena silícea; mezcla de tierra vegetal, ladrillo reciclado triturado, arena silícea y geoespuma fenólica. • Capa separadora: geocompuesto no tejido negro-verde, geotextil blanco agujeteado y geoespuma fenólica. Un ‘indicador’ es definido como el valor o la información que sirve para conocer o valorar las características y la intensidad de un hecho o para determinar su evolución futura. Para el presente proyecto se ha elaborado una lista de indicadores vinculados directamente con los distintos criterios de sostenibilidad, que son el medioambiental, el económico y el social. A partir de una propuesta inicial, depurada por la consulta con expertos en la materia que aportaron su visión sobre la importancia, o no, de estos indicadores y tras ser puesta en contraste con los medios técnicos existentes y disponibles en los laboratorios de la Escuela, se alcanzó una propuesta en forma de lista con la que se ha evaluado el rendimiento de los materiales seleccionados en los términos marcados. La evaluación de los indicadores se ha realizado empleando el método de análisis multicriterio conocido como ELECTRE, según el cual se asignan pesos a los diferentes indicadores en función de su importancia y, tras calificar los rendimientos mostrados por los materiales ensayados, se calculan las dominancias reales existentes entre ellos de forma objetiva y comparativa. La conclusión final y más palpable del proyecto se cimienta en el cambio de paradigma que suponen las cubiertas verdes en términos de sostenibilidad, permitiendo al sector de la construcción adaptarse a los nuevos estándares vinculados con los Objetivos de Desarrollo Sostenible a través del respeto al medio ambiente, la reducción de emisiones y la optimización de consumos en la totalidad del ciclo de vida, no sólo de los materiales con los que se construyen las estructuras, sino también de los procesos a través de los cuales estas se hacen realidad y de los usos o aplicaciones a los que estos espacios se destinan. A esto responden los materiales que de este Trabajo Fin de Máster se destilan como los más sostenibles y que mayores beneficios aportan en términos de medio ambiente, sociedad y economía.ABSTRACT: The main objective of this Project is to carry out a multi-criteria analysis through different indicators selected under sustainability criteria, using the ELECTRE method, on a series of substrates and separating layers proposed in order to make a recommendation for the use of those materials that best respond to the proposed environmental, social and economic indicators. To carry out this analysis, the importance given to each indicator Will be evaluated through the literature consulted, the consultation of experts in the sector and, finally, the judgement of the directors and the author of this Project. The materials studied fall into three different categories: habitual material of recurrent use in applications on green roofs; recycled or reused material and new material, of our own proposal, of which there is no evidence of recurrent use in this field. These are the following: • Substrates: mixture of topsoil, limestone gravel and silica sand; mixture of topsoil, crushed recycled brick and silica sand; mixture of topsoil, crushed recycled brick, silica sand and phenolic geofoam. • Separating layer: black-green non-woven geocomposite, white needle-punched geotextile and phenolic foam. An ‘indicator’ is defined as the value or information that serves to know or value the characteristics and intensity of an event or to determine its future evolution. For the present Project, a list of indicators has been drawn up which are directly linked to the different criteria of sustainability, which are environmental, economic and social. From an initial proposal, refined by consultation with experts in the field who provided their vision on the importance, or not, of these indicators and after being contrasted with the existing technical means available in the laboratories of the School, a proposal was reached in the form of a list with which the performance of the selected materials has been evaluated in the marked terms. The evaluation of the indicators has been carried out using the multi-criteria analysis method known as ELECTRE, according to which weights are assigned to the different indicators according to their importance and, after qualifying the performances shown by the tested materials, the real dominances existing among them are calculated in an objective and comparative way. The final and most palpable conclusion of the project is based on the change of paradigm that green roofs represent in terms of sustainability, allowing the construction sector to adapt to the new standards linked to the Objectives of Sustainable Development through respect for the environment, the reduction of emissions and the optimization of consumption throughout the entire life cycle, not only of the materials with which the structures are built, but also of the processes through which these become a reality and the uses or applications to which these spaces are destined. This is the reason why the materials that are distilled from this Master's Degree are the most sustainable and the most beneficial in terms of the environment, society and economy.Máster en Ingeniería de Caminos, Canales y Puerto