Exchange rate behavior and exchange rate puzzles: why the 18th century might help

Este artículo analiza el comportamiento de los tipos de cambio entre España y Gran Bretaña durante el siglo XVIII; en concreto, de los tipos de cambio en el mercado de Londres sobre tres ciudades españolas, entre los años 1699 y 1826. Tras una breve exposición del funcionamiento del sistema monetario español y de la determinación de los tipos de cambio, estudiamos hasta qué punto el tipo de cambio respondía a variables fundamentales, utilizando dos modelos teóricos generalmente aceptados. Los resultados sugieren que la paridad de poder adquisitivo se cumplió durante el siglo XVIII, y que el tipo de cambio se movía de forma paralela a los diferenciales de inflación. Al final del siglo aparecen desviaciones de la paridad de poder adquisitivo, que atribuimos a alteraciones en el tipo de cambio real causadas por fluctuaciones en el comercio bilateral entre España y Gran Bretaña y, quizá, a diferenciales de productividad.This article explores the behavior of exchange rates in Spain during the 18th century. We analyze the exchange rates quoted in London on three Spanish cities between 1699 and 1826. After a brief review of how the Spanish monetary system worked and how exchange rates were determined, we assess to which extent the exchange rate responded to market fundamentals by testing two theoretical models of exchange rate determination. The results suggest that purchasing power parity held during the 18th century, with the exchange rate tracking quite closely the behavior of inflation differentials. Deviations from PPP appeared at the end of the century, due mostly to changes in the real exchange rate caused by the bilateral trade between Spain and Great Britain and, maybe, due to productivity differentials

Exchange Rate Behavior and Exchange Rate Puzzles: Why the XVIII Century Might Help

This article explores the behavior of exchange rates in Spain during the XVIII century. We posit that exchange rates were the result of both government intervention over nominal values of currencies and the estimate that the market –of bills of exchange- gave to the value of the currency. We analyze the exchange rates quoted in London on three Spanish cities between 1699 and 1826. After a brief overview of the functioning of the Spanish monetary system and of exchange rate determination, we assess the extent to which the exchange rate responded to market fundamentals by testing some theoretical models of exchange rate determination. The results suggest that purchasing power parity held during the XVIII century, with the exchange rate tracking quite closely the behavior of inflation differentials. Deviations from PPP appeared at the end of the century, due mostly to changes in the real exchange rate caused by the bilateral trade balance between Spain and Great Britain and, maybe, to productivity differentials.

How does collaborative economy contribute to common good?

Collaborative economy emerged as a response to the need of people to exchange, produce and share in a more humane and cooperative manner. However, the growth of collaborative economy organizations and the terminological confusion have led to debates about their possible effects, both positive and negative. In this study, we have created a guideline that can be used to evaluate the contribution of organizations considered within collaborative economy to common good. We used the conceptualization of common good, which, from its Aristotelian-Thomist philosophy, was developed by the personalist-humanist perspective of management. Our analysis leads us to conclude that the evaluation of the contribution of any organization to the common good must take into account how the participants develop their virtues, the creation of the community and its impact on the common good of society. At the end of the article, we present the aspects that society must take into account regarding collaborative economy. Firstly, society, in general, must approach collaborative economy as a tool that must complement others in the search for solutions to economic and social problems and, secondly, the governance of the platform-network is essential to foster organizational models that favour the common good

Design of wide-beam leaky-wave antenna arrays based on the bilinear transformation of IIR digital filters and the Z transform

In the pioneering work, the radiation diagrams of leaky wave antenna arrays can achieve attenuation nulls and gains at specific angles by manually placing the zeros and the poles in the Z domain of the corresponding discrete linear time-invariant (LTI) system. This handcrafted design procedure does not allow radiation diagrams with wide beams since the interaction between poles involved in the wide beam and their corresponding leaky modes cannot be easily handled. To overcome this limitation, this paper describes a novel method for designing radiation diagrams of leaky-wave antenna arrays based on the theory of IIR discrete filters. The proposed method relies on the design of discrete filters with the prototypes of analog low-pass filters defined by Butterworth and Chebyshev type I polynomials, whose roots along with the bilinear transformation provide the location of the poles and the zeros of the discrete LTI system and, therefore, the parameters of the leaky-wave antenna array. Results with different designs and a comparison with other approaches show the utility and effectiveness of this novel method to design wide-beam leaky-wave antenna arrays.This work was supported by the Spanish National project PID2019-103982RB-C42/AEI/10.13039/501100011033

Small-Scale Abiotic Factors Influencing the Spatial Distribution of Phytophthora cinnamomi under Declining Quercus ilex Trees

Phytophthora root rot is considered one of the main factors associated with holm oak (Quercus ilex L.) mortality. The effectiveness and accuracy of soilborne pathogen and management could be influenced by soil spatial heterogeneity. This factor is of special relevance in many afforestation of southwestern Spain, which were carried out without phytosanitary control of the nursery seedlings. We selected a study area located in a 15 year-old afforestation of Q. ilex, known to be infested by Phytophthora cinnamomi Rands. Soil samples (ntotal = 132) were taken systematically from a grid under 4 trees, and analysed to quantify 12 variables, the colony forming units (cfu) of P. cinnamomi plus 11 physical and chemical soil properties. The combined analysis of all variables was performed with linear mixed models (GLMM), and the spatial patterns of cfu were characterised using an aggregation index (Ia) and a clustering index (ν) by SADIE. Cfu values ranged from 0 to 211 cfu g−1, and the GLMM built with the variables silt, P, K and soil moisture explained the cfu distribution to the greatest extent. The spatial analysis showed that 9 of the 12 variables presented spatial aggregation (Ia > 1), and the clustering of local patches (νi≥1.5) for organic matter, silt, and Ca. The spatial patterns of the P. cinnamomi cfu under planted holm oak trees are related to edaphic variables and canopy cover. Small-scale spatial analysis of microsite variability can predict which areas surrounding trees can influence lower oomycetes cfu availability

A Poglut1 mutation causes a muscular dystrophy with reduced Notch signaling and satellite cell loss

Skeletal muscle regeneration by muscle satellite cells is a physiological mechanism activated upon muscle damage and regulated by Notch signaling. In a family with autosomal recessive limbgirdle muscular dystrophy, we identified a missense mutation in POGLUT1 (protein O-glucosyltransferase 1), an enzyme involved in Notch posttranslational modification and function. In vitro and in vivo experiments demonstrated that the mutation reduces Oglucosyltransferase activity on Notch and impairs muscle development. Muscles from patients revealed decreased Notch signaling, dramatic reduction in satellite cell pool and a muscle-specific adystroglycan hypoglycosylation not present in patients’ fibroblasts. Primary myoblasts from patients showed slow proliferation, facilitated differentiation, and a decreased pool of quiescent PAX7+ cells. A robust rescue of the myogenesis was demonstrated by increasing Notch signaling. None of these alterations were found in muscles from secondary dystroglycanopathy patients. These data suggest that a key pathomechanism for this novel form of muscular dystrophy is Notch-dependent loss of satellite cells.Junta de Andalucía PI-0017-201

Intervención en psicología del deporte : un caso de remo de alta competición

This paper describes the implementation of a sole intervention with a female international rower. Due to an attention deficit, this rower commits a technical error which leads to reduced performance, caused by an incorrect alignment of the boat in both training and competition situations. The aim of this procedure, on which little has been written in Spanish and only a few articles have come out in English, is to correct this error by using concentration strategies that can be applied to rowers. The procedure is implemented by using a device to redirect the rower's concentration. From a theoretical point of view, and in the light of the results of the intervention implemented, this proves very useful since it provides a very clear solution to the problem and improves performance level. Although the A-B design might be considered weak from the methodological point of view, it can be justified insofar as it involves both the athlete as well as the correction of the error, which is the objective of implementing the procedure

Orientación de logro y compromiso deportivo : estudio transcultural entre México y España

Existen diferentes motivos para que una persona inicie y persista en la práctica deportiva, para explicar este fenómeno uno de los modelos más utilizados es el de compromiso deportivo que en diferentes investigaciones se ha comprobado su validez transcultural y se le relaciona con diversos constructos, entre ellos, la motivación de logro. Dentro de esta teoría de la motivación encontramos la orientación de logro, que se ha conceptualizado como la estructura mental mediante la cual los individuos interpretan y responden a las situaciones de meta, y puede cambiar la percepción de las variables contextuales deportivas e influir en la decisión de iniciar o permanecer en la práctica un deporte. El objetivo de este estudio fue comparar una muestra de deportistas mexicanos y españoles en cuanto a las dimensiones de orientación de logro y las variables del modelo de compromiso deportivo. Los resultados mostraron diferencias significativas solo en la dimensión de maestría, pero los modelos de ecuaciones estructurales muestran diferencias importantes en cuanto a su distribución y en las variables que influyen en el compromiso. Se encontraron diferencias culturales en cómo los deportistas responden a situaciones de meta y en cómo esto puede afectar su decisión de permanecer o abandonar el deporte, siendo los españoles quienes muestran un mejor ajuste con el modelo original de compromiso deportivo.There are several reasons for a person to start and persist in sports, to explain this phenomenon one of the most used models is sport commitment that in different investigations has proven its cross-cultural validity and is related to various constructs, including achievement motivation. Within this theory of motivation, we find the goal orientation, which has been conceptualized as the mental structure through which individuals interpret and respond to goal situations, and can change the perception of contextual sports variables and influence decision of starting or staying in a sport. The objective of this study was to compare a sample of Mexican and Spanish athletes regarding the dimensions of achievement orientation and the variables of the sports commitment model. The results showed significant differences only in mastery dimension, but the models of structural equations show major differences in their distribution and in the variables that influence the commitment. Cultural differences were found in how athletes respond to goal situations and how this may affect their decision to stay or leave the sport, with Spaniards showing a better fit with the original model of sports commitment.Existem diferentes razões para uma pessoa para iniciar e persistir no esporte, para explicar esse fenômeno um dos modelos mais utilizados é o compromisso desportivo mesmo que em várias pesquisas provou sua validade transcultural e está associado com diversos construtos, incluindo a orientação para ego. Dentro desta teoria da motivação encontramos a orientação para ego, que tem sido conceituada como a estrutura mental através do qual os indivíduos interpretar e responder a situações de resultado (ego), e pode mudar a percepção das variáveis contextuais desportivas e influenciar a decisão para iniciar ou ficar em prática um esporte. O objetivo deste estudo foi comparar uma amostra de atletas mexicanos e espanhóis en termos das dimensões de orientação para ego e as variáveis do modelo de compromisso esportivo. Os resultados mostraram diferenças significativas apenas na dimensão do domínio, mas modelos de equações estruturais mostram diferenças enquento a distribuição e nas variáveis que influenciam o compromisso. Se encontraram diferenças culturais na forma como os atletas respondem a situações de ego e como isso pode afetar sua decisão de ficar ou deixar o esporte, são os espanhóis que mostram um melhor ajuste com o modelo original de compromisso desportivo

Percepción de la violencia y sintomatología depresiva en parejas mexicanas

La depresión en México es un grave problema de salud pública debido principalmente a la incapacidad que genera y a los correlatos físicos que presenta, la prevalencia de la depresión es mayor entre las mujeres que en los hombres y el riesgo de desarrollar síntomas depresivos aumenta ante la presencia de diversos factores biológicos y sociales, entre ellos la violencia en los núcleos familiares. El objetivo de este estudio fue determinar cómo se asocia la percepción de la violencia en las parejas con la sintomatología depresiva, para ello participaron 150 hombres y 192 mujeres de la ciudad de México. Los resultados muestran que las mujeres presentaron más sintomatología depresiva que los hombres, además de que ellas reportan más violencia física, violencia económica, intimidación y humillación/devaluación que los hombres. En los análisis de modelos estructurales se observó que la violencia percibida influye de manera positiva en la aparición de sintomatología depresiva.Depression in Mexico is a serious public health problem mainly due to the generate of inability and the physical correlates that presents, the prevalence of depression is higher among women compared to men and the risk of developing depressive symptoms increases with the presence of various biological and social factors, including violence within families, hence the aim of this study was to determine how the perception of violence in couples is associated with depressive symptoms, for it involved 150 men and 192 women Mexico city. The results show that women had more depressive symptoms than men, also, they reported more physical violence, economic violence, intimidation and humiliation/devaluation than men, and further structural analysis models indicate that the perceived violence has a positive influence on the onset of depressive symptoms