A new approach to bad news effects on volatility: the Multiple-Sign-Volume sensitive regime EGARCH model (MSV-EGARCH)

In this paper, using daily data for six major international stock market indexes and a modified EGARCH specification, the links between stock market returns, volatility and trading volume are investigated in a new nonlinear conditional variance framework with multiple regimes and volume effects. Volatility forecast comparisons, using the Harvey-Newbold test for multiple forecasts encompassing, seem to demonstrate that the MSV-EGARCH complex threshold structure is able to correctly fit GARCH-type dynamics of the series under study and dominates competing standard asymmetric models in several of the considered stock indexes.info:eu-repo/semantics/acceptedVersio

The relationship between expenditure on defence and economic growth in Spain

Purpose: The objective of this article is to perform a causality analysis between defence expenditure and the economic growth in Spain from 1960 to 2018. Design/Methodology/Approach: The VAR model together with the Granger causality test has been used so as to study which is the relationship between the military expenditure and the economic growth. In addition, using France as a benchmark, the results obtained, considering the same parameters, are in line with the obtained for Spain. Findings: The results suggest the existence of a causal relation turning from defence expenditure to economic growth. Practical Implications: In contrast with other studies in which no single conclusion can be arrived at concerning the possible positive or negative effects of defence investment on a country's economy, this work has obtained results that can serve to inspire relevant aspects of economic policy. Originality/value: The relationship between defence expenditure and its impact on the growth of the economy has aroused the interest of not only numerous authors, but also of the countries which are trying to get a clear idea of the economic impact of defence spending before choosing to reduce expenses in order to control both the deficit and the public debt.peer-reviewe

La difusión de los procesos de aprendizaje de los estudiantes de Bellas Artes mediante el empleo de estrategias de visibilidad y difusión a partir de técnicas del diseño gráfico

Memoria ID-120. Ayudas de la Universidad de Salamanca para la innovación docente, curso 2019-2020.[ES]El proyecto propone un trasvase coordinado y aplicación de contenidos de unas asignaturas en otras, con el objetivo global de estimular la creatividad del estudiante mediante una serie de actividades extraacadémicas, a través del Diseño gráfico, conjugando herramientas desde las áreas de Pintura, Dibujo, Escultura e Historia del Art

A facility and community-based assessment of scabies in rural Malawi.

Background Scabies is a neglected tropical disease of the skin, causing severe itching, stigmatizing skin lesions and systemic complications. Since 2015, the DerMalawi project provide an integrated skin diseases clinics and Tele-dermatology care in Malawi. Clinic based data suggested a progressive increase in scabies cases observed. To better identify and treat individuals with scabies in the region, we shifted from a clinic-based model to a community based outreach programme. Methodology/principal findings From May 2015, DerMalawi project provide integrated skin diseases and Tele-dermatological care in the Nkhotakota and Salima health districts in Malawi. Demographic and clinical data of all patients personally attended are recorded. Due to a progressive increase in the number of cases of scabies the project shifted to a community-based outreach programme. For the community outreach activities, we conducted three visits between 2018 to 2019 and undertook screening in schools and villages of Alinafe Hospital catchment area. Treatment was offered for all the cases and school or household contacts. Scabies increased from 2.9% to 39.2% of all cases seen by the DerMalawi project at clinics between 2015 to 2018. During the community-based activities approximately 50% of the population was assessed in each of three visits. The prevalence of scabies was similar in the first two rounds, 15.4% (2392) at the first visit and 17.2% at the second visit. The prevalence of scabies appeared to be lower (2.4%) at the third visit. The prevalence of impetigo appeared unchanged and was 6.7% at the first visit and 5.2% at the final visit. Conclusions/significance Prevalence of scabies in our setting was very high suggesting that scabies is a major public health problem in parts of Malawi. Further work is required to more accurately assess the burden of disease and develop appropriate public health strategies for its control

Modelo para determinar la cuota en tienda de un producto en el punto de venta

La elaboración de modelos de marketing ha sido una labor emprendida por distintos autores que comienza en la década de los 60 y llega hasta la actualidad. Sin embargo la mayor parte de estos modelos, han pasado desapercibidos para los profesionales del marketing. El objetivo fundamental de esta tesis es construir un modelo de marketing que determine que variables, propias y de la competencia, son las que influyen en la cuota en tienda de una marca. Para lograr el objetivo, se ha comenzado, en primer lugar, por revisar las aportaciones realizadas en el área de los modelos de marketing. En segundo lugar se ha realizado una clasificación de los modelos, para ubicar mejor al modelo objeto de esta tesis. La metodología para construir el modelo ha venido determinada por el tipo de dato disponible. Los datos utilizados han sido proporcionados por Nielsen. Son datos agregados que muestran la evolución en el tiempo de diferentes magnitudes de marketing. Esta agregación puede realizarse por formato y/o por tipo de establecimiento. La primera cuestión a contestar es: ¿Existe un modelo para cada establecimiento/formato o por el contrario un modelo único y global? Un modelo único, supone aceptar una realidad comercial idéntica independientemente del formato y/o el establecimiento; una realidad demasiado simple. La alternativa es admitir un modelo diferente para cada formato y establecimiento; una realidad compleja, que implica una mayor dificultad para analizar la realidad comercial..

A tale of five stories: Defence spending and economic growth in NATO´s countries.

This article examines the relationship between defence expenditure and its impact on the growth of NATO's countries between 2005 and 2018. The aim is to determine if this relation exists and to test if it is possible to discover different models across the countries. The results obtained using the Arellano-Bond estimator, suggest that there is more than one model, and confirm, through the poolability test, the existence of five different groups of countries within the Alliance, with different impacts of the defence expenditure on their gross domestic product. These findings are in line with the review of existing literature that reveals heterogeneity in the results due to different parameters used

Revista de educación

Resumen basado en el de la publicaciónEn la Comunidad de Madrid el porcentaje de familias que optan por la enseñanza de pago es muy superior en comparación con el resto de comunidades autónomas. El objetivo es ofrecer una visión de las características de los hogares que demandan este tipo de enseñanza, así como analizar el efecto que la actual crisis económica ha tenido en las decisiones de las familias madrileñas en cuanto al gasto en la educación de sus hijos. Las principales fuentes de información empleadas han sido la Encuesta de Presupuestos Familiares, elaborada por el Instituto Nacional de Estadística, y diversas estadísticas publicadas por el Ministerio de Educación, Cultura y Deporte y por la Consejería de Educación de la Comunidad Autónoma de Madrid. Se comprueba que la crisis económica no ha hecho que las familias madrileñas reduzcan fuertemente sus gastos en materia de enseñanza, sino que estos han caído en menor medida que el gasto medio en el resto de conceptos. Concluye que la enseñanza privada también está presente en hogares con menores ingresos.ES

Ascetic tropics: Franciscans, missionary knowledge and visions of Empire in the Portuguese Atlantic at the turn of the eighteenth century

This essay focuses on the study of Franciscan written and intellectual culture in Portuguese America. Specifically, it analyzes the role the Franciscans played, through their writings, in the shaping of the Portuguese- American world, of the way that world was thought about, and of contemporary understandings of the place Brazil should occupy within the Portuguese monarchy. It examines the visions of the Empire which the so-called Seraphic Order developed in the Brazilian colonial context, the written strategies they used, and the missionary and colonial knowledge which they employed when constructing their perceptions of the American world. To that end, it looks in detail at the Franciscan friar António do Rosário and his text <em>Frutas do Brasil</em> (Lisbon, 1702), in which he used his knowledge of the natural world to construct a complex plant-based allegory with clear political connotations about Brazil.<br><br>El presente trabajo centra su atención en el estudio de la cultura escrita e intelectual de los franciscanos en la América portuguesa. En concreto, analiza el papel que los franciscanos, a través de sus textos, desempeñaron en la configuración del mundo luso-americano, en el modo de pensarlo y en la forma de entender el lugar que Brasil debía ocupar dentro de la Monarquía portuguesa. Examina las visiones de imperio que la Orden seráfica construyó, las estrategias escritas que empleó a tal efecto y los saberes misioneros y coloniales que movilizó a la hora de elaborar sus percepciones del mundo americano. Para ello, se centra en la figura de Fr. António do Rosário y su obra Frutas do Brasil (Lisboa, 1702), en la que el autor hizo uso de su conocimiento del mundo natural para construir una compleja alegoría hortofrutícola de claras connotaciones políticas en torno a Brasil