Dragon-Kings in financial data - study at different time scales -

Projecte final de carerra realitzat en col.laboració amb ETH ZurichDrawdowns (loss fromthe last local maximum to the next local minimum) o er a more natural measure of the financial market dynamics than fixed time-scale measures. We study the presence of Dragon Kings corresponding to meaningful outliers in the distribution of drawdowns at di erent time scales - from 1-min to daily. Our analysis comprises nine time series of prices of futures tracking major stock indexes (S&P, FT-SE, Nikkei), currencies (Yen, DM) and government bonds (Japan, US, Germany). We find no empirical evidence of the presence of Dragon-Kings for high frequency data, 1-min resolution. Nevertheless, for the largest scales, namely daily, the statistical tests applied demonstrate that the 1% quantile of the largest events of the population of drawdowns belong to a distribution significantly di erent from the rest. For the other scales, the test results are inconclusive. This results suggest that the feedback mechanisms present in the Dragon-Kings require a certain time to buildup

Dragon-Kings in financial data - study at different time scales -

Projecte final de carerra realitzat en col.laboració amb ETH ZurichDrawdowns (loss fromthe last local maximum to the next local minimum) o er a more natural measure of the financial market dynamics than fixed time-scale measures. We study the presence of Dragon Kings corresponding to meaningful outliers in the distribution of drawdowns at di erent time scales - from 1-min to daily. Our analysis comprises nine time series of prices of futures tracking major stock indexes (S&P, FT-SE, Nikkei), currencies (Yen, DM) and government bonds (Japan, US, Germany). We find no empirical evidence of the presence of Dragon-Kings for high frequency data, 1-min resolution. Nevertheless, for the largest scales, namely daily, the statistical tests applied demonstrate that the 1% quantile of the largest events of the population of drawdowns belong to a distribution significantly di erent from the rest. For the other scales, the test results are inconclusive. This results suggest that the feedback mechanisms present in the Dragon-Kings require a certain time to buildup

Els Ocells pleistocènics d'Es Pouàs, Eivissa. Nota preliminar

Es presenta l'ornitofauna fòssil lliurada pel jaciment pleistocènic d'Es Pouàs, Eivissa. Fins ara s'han identificat 21 tàxons, essent tots, llevat d'un, nous per al registre fossilifer eivissenc. La fauna obtinguda al depòsit d'Es Pouàs permet reinterpretar biogeogràficament les diferències faunístiques existents entre les Gimnèsies i les Pitiüses.The fossil ornithofauna obtained in Es Pouas, Eivissa, is presented in this paper. Until now they are 21 identified taxa, all of them, excepting one, new for the Eivissan fossil record. The obtained fauna allows to develop a new biogeographical interpretation of actual faunistic differences between, Gymnesic and Pityusic Islands

Industrial By-Products As a Novel Circular Source of Biocompatible Extracellular Vesicles

Extracellular vesicles (EVs) constitute an intricate system of molecular exchange that has recently gained tremendous interest. However, sustainable sources of safe biological EVs remain scarce and elusive. This study explores and defines the use of food industry by-products (BP) as a circular source of safe biocompatible EVs. Averaged diameter and molecular compositions indicate a large yield of exosomes and high abundancy of membrane lipids with signaling capacity in these vesicles. Complex proteomes mimicking those circulating in human blood plasma are also identified. Furthermore, BP-EVs do not show relevant cytotoxicity and display excellent oral and intravenous bioavailability together with specific organ targeting capacity. Collectively, it is believed that the novel findings reported here will open substantial venues for the use of BP as an optimal source of biocompatible nanovesicles in manifold applications of the biotechnological and biomedical fields.The authors sincerely thank Gemma Plaza, oenologist at the Castell del Remei winery in Penelles, Lleida, Spain and Juan Carlos Blanco, production manager at Mahou San Miguel in Alovera, Madrid, Spain for their kind and altruistic help on the obtention of their respective industry by-product samples. The authors also thank Dr. Hector Peinado and his research group at the National Center for Oncology Research (CNIO) in Madrid (Spain) for their support on the morphometric characterization of BP-EVs. Support for this work was provided by the Research and Education Council of the Community of Madrid, Spain (2018-T1/ BIO-10633), Ministry of Science and Innovation, Spain (PID2020- 114885RB-C21) and a FIS project by Carlos III Institute of Health (ISCIII), Spain (PI20/00623). A.S. acknowledges a grant from the Talento Program 2018 of the Community of Madrid. X.G.-P. acknowledges grants from Sara Borrell postdoctoral program (CD19/00243) and Miguel Servet tenure track program (CP21/00096) of the Instituto de Salud Carlos III (ISCIII, Spain), respectively awarded on the 2019 and 2021 calls under ISCIII-Health Strategy Actions [These grants are cofunded with European Union Funds (ISCIII Miguel Servet Program 2021 is cofunded by Fondo Social Europeo Plus, FSE+)]. M.V.C. acknowledges a Miguel Servet program contract (CPII20/00007). C.L.’s Ph.D. was funded by the Regional Ministry of Science, Universities and Innovation of the Community of Madrid and the European Social Fund for the recruitment of predoctoral researchers (PEJD-2019-PRE/BIO-16475). IRBLLEIDA and X.G.-P. are co-funded by CERCA Program/Generalitat de Catalunya

Bone grafts: which is the ideal biomaterial?

Abstract Bovine xenograft materials, followed by synthetic biomaterials, which unfortunately still lack documented predictability and clinical performance, dominate the market for the cranio‐maxillofacial area. In Europe, new stringent regulations are expected to further limit the allograft market in the future Aim Within this narrative review, we discuss possible future biomaterials for bone replacement. Scientific Rationale for Study Although the bone graft (BG) literature is overflooded, only a handful of new BG substitutes are clinically available. Laboratory studies tend to focus on advanced production methods and novel biomaterial features, which can be costly to produce. Practical Implications In this review, we ask why such a limited number of BGs are clinically available when compared to extensive laboratory studies. We also discuss what features are needed for an ideal BG. Results We have identified the key properties of current bone substitutes and have provided important information to guide clinical decision‐making and generate new perspectives on bone substitutes. Our results indicated that different mechanical and biological properties are needed despite each having a broad spectrum of variations. Conclusions We foresee bone replacement composite materials with higher levels of bioactivity, providing an appropriate balance between bioabsorption and volume maintenance for achieving ideal bone remodelling

Dragon-Kings in financial data - study at different time scales -

Projecte final de carerra realitzat en col.laboració amb ETH ZurichDrawdowns (loss fromthe last local maximum to the next local minimum) o er a more natural measure of the financial market dynamics than fixed time-scale measures. We study the presence of Dragon Kings corresponding to meaningful outliers in the distribution of drawdowns at di erent time scales - from 1-min to daily. Our analysis comprises nine time series of prices of futures tracking major stock indexes (S&P, FT-SE, Nikkei), currencies (Yen, DM) and government bonds (Japan, US, Germany). We find no empirical evidence of the presence of Dragon-Kings for high frequency data, 1-min resolution. Nevertheless, for the largest scales, namely daily, the statistical tests applied demonstrate that the 1% quantile of the largest events of the population of drawdowns belong to a distribution significantly di erent from the rest. For the other scales, the test results are inconclusive. This results suggest that the feedback mechanisms present in the Dragon-Kings require a certain time to buildup

Els Ocells pleistocènics d'Es Pouàs, Eivissa. Nota preliminar

Es presenta l'ornitofauna fòssil lliurada pel jaciment pleistocènic d'Es Pouàs, Eivissa. Fins ara s'han identificat 21 tàxons, essent tots, llevat d'un, nous per al registre fossilifer eivissenc. La fauna obtinguda al depòsit d'Es Pouàs permet reinterpretar biogeogràficament les diferències faunístiques existents entre les Gimnèsies i les Pitiüses.The fossil ornithofauna obtained in Es Pouas, Eivissa, is presented in this paper. Until now they are 21 identified taxa, all of them, excepting one, new for the Eivissan fossil record. The obtained fauna allows to develop a new biogeographical interpretation of actual faunistic differences between, Gymnesic and Pityusic Islands