Return to Tourist Destination. Is it Reputation, After All?

In this paper we study the hypothesis that the repeated purchases in the tourism markets could be considered as a consequence of asymmetrical information problems. We analyze this hypothesis with the case study of the Island of Tenerife by the estimation of a count data model. We obtain that the length of the stay and the information obtained from previous visits and/or relatives and friends might increase the return to a destination suggesting the presence of a reputation mechanism as proposed by Shapiro (1983). We also estimate the determinants of the willingness to return confirming the main results.reputation, tourism, count data, logit

An End to a Means: How DNA-End Structure Shapes the Double-Strand Break Repair Process

Endogenously-arising DNA double-strand breaks (DSBs) rarely harbor canonical 5'-phosphate, 3'-hydroxyl moieties at the ends, which are, regardless of the pathway used, ultimately required for their repair. Cells are therefore endowed with a wide variety of enzymes that can deal with these chemical and structural variations and guarantee the formation of ligatable termini. An important distinction is whether the ends are directly "unblocked" by specific enzymatic activities without affecting the integrity of the DNA molecule and its sequence, or whether they are "processed" by unspecific nucleases that remove nucleotides from the termini. DNA end structure and configuration, therefore, shape the repair process, its requirements, and, importantly, its final outcome. Thus, the molecular mechanisms that coordinate and integrate the cellular response to blocked DSBs, although still largely unexplored, can be particularly relevant for maintaining genome integrity and avoiding malignant transformation and cancer.España, Junta de Andalucía SAF2017-89619-R, CVI-7948European Research Council (ERC-CoG-2014-647359

Numerical implementation of the mixed potential integral equation for planar structures with ferrite layers arbitrarily magnetized

This work presents a new implementation of the mixed potential integral equation (MPIE) for planar structures that can include ferrite layers arbitrarily magnetized. The implementation of the MPIE here reported is carried out in the space domain. Thus it will combine the well-known numerical advantages of working with potentials as well as the flexibility for analyzing nonrectangular shape conductors with the additional ability of including anisotropic layers of arbitrarily magnetized ferrites. In this way, our approach widens the scope of the space domain MPIE and sets this method as a very efficient and versatile numerical tool to deal with a wide class of planar microwave circuits and antennas.Ministerio de Educación y Ciencia TEC2004-0321

An empirical examination of exchange-rate credibility determinants in the EMS

This paper provides empirical evidence on the determinants of exchange rate credibility under the European Monetary System (EMS). To that end, we have considered both economic variables and political factors using data of eight currencies participating in the Exchange Rate Mechanism, covering the complete EMS history (1979-1998). Our results suggest that the level of international reserves, the real interest rate and right-wing governments would have positively affected the credibility of a given central parity, while the unemployment rate and the inflation rate would have negative influenced such credibility.Credibility, Political variables, Exchange rates, European Monetary System

On the impact of exchange rate regimes on tourism

The main objective of this paper is to analyze the effect of the exchange rate arrangements on international tourism. The ambiguity of literature about the effect of exchange rate volatility contrasts with the magnitude of the impact of a common currency on trade. On the basis of a gravity equation we estimate a moderate effect of a currency union on tourism of almost 12%. Furthermore, we estimate a gravity equation for international trade, obtaining that the common currency effect on trade is reduced when tourism is introduced as a regressor. This suggests that tourism flows may contribute to explain the excessive magnitude of the estimated effect of a common currency on trade in this literature. Finally, we analyze the impact of several de facto exchange rate arrangements on tourism, finding that less flexible exchange rates promotes tourism flows.Tourism, Exchange Rate Regime, Common Currency

Revisiting Rose's common currency debate

The main objective of this research is to revisit the estimation of the effect of a common currency on international trade by applying the new methodology proposed by Helpman, Melitz and Rubistein (2008) and incorporating tourism to the theoretical framework. Rose (2000) estimates an empirical model of bilateral trade, finding a significant coefficient for a currency union variable of 1.2, suggesting an effect of currency unions on trade of over a 200%. Rose (2000)’s finding did not receive full acceptance and further research was consequently devoted to find reasons of such high effect. This still remains as a major puzzle in the International Economics. Rose and Van Wincoop (2001) hold that there may still be some omitted factors that drives countries to both participate in currency unions and trade more. In this research a gravity equation for trade is estimated controlling by international tourism.Common currency, tourism, gravity equation

Physically-insightful equivalent circuit models for electromagnetic periodic structures

In this presentation it will be discussed how to obtain analytical or quasi-analytical equivalent circuits to deal with periodic structures such as frequency selective surfaces and/or metasurfaces. Both the topology and the values of the involved elements of these circuits are obtained from a basic rationale to solve the corresponding integral equation. This procedure, besides providing a very efficient analysis/design tool, allows for a good physical insight into the operating mechanisms of the structure in contrast with the almost blind numerical scheme of commercial simulators.Ministerio de Economía y Competitividad TEC2013-41913-PJunta de Andalucía P12-TIC-143

On the Credibility of a Target Zone: Evidence from the EMS

We provide some new evidence on the credibility of the Exchange Rate Mechanism of the European Monetary System. To that end, we use of several credibility indicators, analysing the complete EMS history. We also compare the prediction qualities of the different indicators, and apply them to the experience of the new ERM linking the currencies of non-euro area Member States to the euro.Exchange rates, European Monetary System.

On the Computation of the Dispersion Diagram of Symmetric One-Dimensionally Periodic Structures

A critical discussion on the computation of the dispersion diagram of electromagnetic guiding/radiating structures with one-dimensional periodicity using general-purpose electromagnetic simulation software is presented in thiswork. In thesemethods, full-wave simulations of finite sections of the periodic structure are combined with appropriate simplifying network models. In particular, we analyze the advantages and limitations of two different combined methods, with emphasis on the determination of their range of validity. Our discussion is complemented with several selected numerical examples in order to show the most relevant aspects that a potential user of these methods should be aware of. Special attention is paid to the relevant role played by the high-order coupling between adjacent unit cells and between the two halves of unit cells exhibiting reflection, inversion, and glide symmetries.Ministerio de Ciencia, Innovación y Universidades TEC2017-84724-