Estimating Optimal Military Spending Policy in DSGE Model: Empirical vs Theoretical Approach

193-196Public spending on defense has become one of the most recent and complex research topics in macroeconomic policy analysis, which affects both economic growth and the welfare of society. Literature demands works that address the optimal calculation of military spending. This paper tries to respond to the estimation approach used to calculate military spending. Both a DSGE model (theoretical approach), a VAR model (empirical approach) and a DSGE-VAR model (combined approach) are developed. Our results indicate that the DSGE-VAR model offers the most robust estimates with minor deviations, closely followed by the DSGE model

How does financial literacy influence undergraduates’ risk-taking propensity?

Previous evidence is contradictory about the financial literacy-individual’s risk-taking propensity relationship. Therefore, this article attempts to examine the relationship between financial literacy and risk-taking propensity in a university environment, considering for the first time the financial literacy’s multidimensional nature (i.e., financial knowledge, financial attitude, and financial behaviour). Applying Covariance-Based Structural Equation Models to 568 Spanish undergraduates, our results show that: (1) financial knowledge and financial behaviour directly and positively affect risk-taking propensity; (2) financial attitude indirectly and positively affects risk-taking propensity through financial behaviour. These findings are relevant since they provide new insights into the association mechanism that explains the financial literacy-undergraduates’ risk-taking propensity relationship.Antonio Molina-García’s work was funded by the Spanish Ministry of Education and Vocational Training (FPU) (FPU20/02328). Funding for open access charge: Universidad de Málaga / CBUA

Biofouling on PM stainless steels

Powder metallurgy (PM) consists in obtaining pieces of powder metal that are processed at high temperatures and pressure. Due to its characteristic manufacturing process, the materials can have a specific and controlled porosity, which makes it possible to obtain porous parts such as ball bearings, gears, and roller bearings, etc. This porosity is what made us think about how easy biofouling would be on these materials and its possible environmental applications

Cruise passengers´ intention and sustainble management of cruise destinations

Estudios turísticos recientes han demostrado que la intención de los pasajeros de cruceros puede utilizarse como una herramienta para evaluar la sostenibilidad del destino del puerto de escala. Sin embargo, los estudios sobre este tema siguen siendo escasos y solo ofrecen una conceptualización inicial de este problema. Con la esperanza de ayudar a llenar este vacío, la presente investigación propone un modelo robusto para el análisis de la intención de los pasajeros de cruceros evaluada mediante Mínimos Cuadrados Parciales. Los datos se recopilaron en el puerto de Málaga (España), entre enero y diciembre de 2018. Los resultados mostraron que la reputación y la familiaridad son los mejores factores explicativos de la intención de los pasajeros de cruceros con respecto a un destino de puerto de escala. Además, la percepción cognitiva y la evaluación afectiva son antecedentes de la reputación y la familiarida

Estimating Optimal Military Spending Policy in DSGE Model: Empirical vs Theoretical Approach

Public spending on defense has become one of the most recent and complex research topics in macroeconomic policy analysis, which affects both economic growth and the welfare of society. Literature demands works that address the optimal calculation of military spending. This paper tries to respond to the estimation approach used to calculate military spending. Both a DSGE model (theoretical approach), a VAR model (empirical approach) and a DSGE-VAR model (combined approach) are developed. Our results indicate that the DSGE-VAR model offers the most robust estimates with minor deviations, closely followed by the DSGE model

An analysis of the corporate social responsibility of the spanish marinas

Las Marinas Deportivas son infraestructuras portuarias complejas que agregan valor a las zonas costeras, y que contribuyen al desarrollo económico y social del destino turístico donde se ubican. No obstante, y aunque el estudio de la RSC en el ámbito de las marianas deportivas tienen una gran relevancia tanto a nivel turístico como por sus efectos en el entorno, en la literatura previa sobre RSC, el estudio de los puertos marítimos es escaso y sólo se ha abordado el análisis de su impacto en el medio ambiente. Para cubrir este hueco en la investigación, el objetivo de la presente investigación es analizar el estado actual de la Responsabilidad Social Corporativa de las mariana deportivas españolas, aplicando técnicas de ecuaciones estructurales mediante mínimos cuadrados parciales (PLS-SEM) a la información obtenida de una muestra de 60 puertos deportivos españoles estratificados por tamaño y localización. Los resultados obtenidos han determinado las barreras y los impulsores asociados con la implementación de la RSC en el sector de las marinas deportivas españolas.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Mathematical analysis of a low cost mechanical ventilator respiratory dynamics enhanced by a sensor transducer (st) based in nanostructures of anodic aluminium oxide (aao)

Mechanical ventilation systems require a device for measuring the air flow provided to a patient in order to monitor and ensure the correct quantity of air proportionated to the patient, this device is the air flow sensor. At the beginning of the COVID-19 pandemic, flow sensors were not available in Peru because of the international supply shortage. In this context, a novel air flow sensor based on an orifice plate and an intelligent transducer was developed to form an integrated device. The proposed design was focused on simple manufacturing requirements for mass production in a developing country. CAD and CAE techniques were used in the design stage, and a mathematical model of the device was proposed and calibrated experimentally for the measured data transduction. The device was tested in its real working conditions and was therefore implemented in a breathing circuit connected to a low-cost mechanical ventilation system. Results indicate that the designed air flow sensor/transducer is a low-cost complete medical device for mechanical ventilators that is able to provide all the ventilation parameters by an equivalent electrical signal to directly display the following factors: air flow, pressure and volume over time. The evaluation of the designed sensor transducer was performed according to sundry transducer parameters such as geometrical parameters, material parameters and adaptive coefficients in the main transduction algorithm; in effect, the variety of the described results were achieved by the faster response time and robustness proportionated by transducers of nanostructures based on Anodic Aluminum Oxide (AAO), which enhanced the designed sensor/transducer (ST) during operation in intricate geographic places, such as the Andes mountains of Peru

Invasive Fusariosis in Nonneutropenic Patients, Spain, 2000-2015

Invasive fusariosis (IF) is associated with severe neutropenia in patients with concurrent hematologic conditions. We conducted a retrospective observational study to characterize the epidemiology of IF in 18 Spanish hospitals during 2000-2015. In that time, the frequency of IF in nonneutropenic patients increased from 0.08 cases per 100,000 admissions in 2000-2009 to 0.22 cases per 100,000 admissions in 2010-2015. Nonneutropenic IF patients often had nonhematologic conditions, such as chronic cardiac or lung disease, rheumatoid arthritis, history of solid organ transplantation, or localized fusariosis. The 90-day death rate among nonneutropenic patients (28.6%) and patients with resolved neutropenia (38.1%) was similar. However, the death rate among patients with persistent neutropenia (91.3%) was significantly higher. We used a multivariate Cox regression analysis to characterize risk factors for death: persistent neutropenia was the only risk factor for death, regardless of antifungal therapy

Programs for optimizing the use of antibiotics (PROA) in Spanish hospitals: GEIH-SEIMC, SEFH and SEMPSPH consensus document

Los antimicrobianos son fármacos distintos al resto. Su eficacia en la reducción de la morbilidad y la mor talidad es muy superior a la de otros grupos de medicamentos. Por otra parte, son los únicos fármacos con efectos ecológicos, de manera que su administración puede contribuir a la aparición y diseminación de resistencias microbianas. Finalmente, son utilizados por médicos de prácticamente todas las especialidades. La actual complejidad en el manejo de las enfermedades infecciosas y del aumento de las resistencias hace imprescindible el establecimiento de programas de optimización del uso de antimicrobianos en los hospitales (PROA). Este documento de consenso define los objetivos de los PROA (mejorar los resultados clínicos de los pacientes con infecciones, minimizar los efectos adversos asociados a la utilización de antimicrobianos, incluyendo aquí las resistencias, y garantizar la utilización de tratamientos coste-eficaces) y establece recomendaciones para su implantación en los hospitales españoles. Las líneas maestras de las recomendaciones son: la constitución de un equipo multidisciplinario de antibióticos, dependiente de la Comisión de Infecciones. Los PROA necesitan ser considerados programas institucionales de los hospitales donde se desarrollen. Deben incluir objetivos específicos y resultados cuantificables en función de indicadores, y basarse en la realización de actividades encaminadas a mejorar el uso de antimicrobianos, principalmente mediante actividades formativas y medidas no impositivas de ayuda a la prescripción.The antimicrobial agents are unique drugs for several reasons. First, their efficacy is higher than other drugs in terms of reduction of morbidity and mortality. Also, antibiotics are the only group of drugs associated with ecological effects, because their administration may contribute to the emergence and spread of microbial resistance. Finally, they are used by almost all medical specialties. Appropriate use of antimicrobials is very complex because of the important advances in the management of infectious diseases and the spread of antibiotic resistance. Thus, the implementation of programs for optimizing the use of antibiotics in hospitals (called PROA in this document) is necessary. This consensus document defines the objectives of the PROA (namely, to improve the clinical results of patients with infections, to minimise the adverse events associated to the use of antimicrobials including the emergence and spread of antibiotic resistance, and to ensure the use of the most cost-efficacious treatments), and provides recommendations for the implementation of these programs in Spanish hospitals. The key aspects of the recommendations are as follows. Multidisciplinary antibiotic teams should be formed, under the auspices of the Infection Committees. The PROA need to be considered as part of institutional programs and the strategic objectives of the hospital. The PROA should include specific objectives based on measurable indicators, and activities aimed at improving the use of antimicrobials, mainly through educational activities and interventions based more on training activities directed to prescribers than just on restrictive measures