Incorporating boundary conditions in a stochastic volatility model for the numerical approximation of bond prices

Producción CientíficaIn this paper, we consider a two-factor interest rate model with stochastic volatil-ity, and we assume that the instantaneous interest rate follows a jump-diffusionprocess. In this kind of problems, a two-dimensional partial integro-differentialequation is derived for the values of zero-coupon bonds. To apply standardnumerical methods to this equation, it is customary to consider a boundeddomain and incorporate suitable boundary conditions. However, for thesetwo-dimensional interest rate models, there are not well-known boundary con-ditions, in general. Here, in order to approximate bond prices, we propose newboundary conditions, which maintain the discount function property of thezero-coupon bond price. Then, we illustrate the numerical approximation ofthe corresponding boundary value problem by means of an alternative directionimplicit method, which has been already applied for pricing options. We testthese boundary conditions with several interest rate pricing models.MEC-FEDER Grant MTM2017-85476-C2-P, Junta de Castilla y León Regional Grants VA041P17 (with European FEDERFunds), VA138G18 y VA148G1

Terroir Zoning: Influence on Grapevine Response (Vitis vinifera L.) at Within-vineyard and Between-Vineyard Scale

Since ancient times, wines from specific regions have been valued and studies related to terroir focus on the elements of the environment that affect wine production. This paper presents the terroir variations between vineyards and within the same vineyard, as well as its influence on grape production. A soil zoning is carried out, starting from an aerial photointerpretation (FIA) and studying each soil sector based on its depth analysis (pits). This zoning of the environmental homogeneous units (EHU) is redefined with the normalized difference vegetation index (NDVI), resulting in the proposed terroir zoning. The temporal stability of the terroir zoning has been tested through the representation of the NDVI during 3 years and the response of the vineyard (yield, vegetative growth, and grape composition) during 4 years. The relationship between the EHUs, soil epipedon particularly, and the response of the vineyard is analyzed from an agglomerative hierarchical clustering (AHC) prior to a principal component analysis (PCA). There is an EHU that is shown to be more vigorous, associated with a material deposition area whose main series of soil is fine-loamy, mixed, mesic, Typic Xerofluvent. This microterroir produces grapes with low sugar content, high acidity, and low levels of polyphenolic compounds, including anthocyanins

Los valores sobre la participación de la infancia en la vida familiar: un análisis de la encuesta mundial de valores en Andalucía

En esta comunicación se trata de analizar en qué medida la transformación social operada en las sociedades contemporáneas puede estar afectando a la relación adultos-infancia en lo referente a los modelos de participación de los niños en la vida familiar. Para el estudio empírico de esta cuestión hemos hecho uso de la base de datos de la Encuesta Mundial de Valores, Andalucía (1998), de la que se han seleccionado ítems especialmente útiles para el objetivo de esta investigación, esto es, aquéllos que nos informan sobre las concepciones de los adultos respecto a la educación de los niños en el contexto de las relaciones de familia.In this paper, we pretend to analyze how and in what extent the social change in contemporary societies, over all in the relationship among adults and childhood, has involved more prominence of the children in a sense of more participation level in the familiar life. For the empirical research, it will be used the data base of the World Survey of Values, in particular, the results related to Andalusia, obtained in 1998. From this survey, it has been selected various items that report about the adults conceptions in relations to the childhood, especially in the context of the family relationship

Estudio comparativo del envejecimiento a largo plazo de una mezcla con asfalto modificado con grano de caucho reciclado

Trabajo de investigaciónUsando el método Marshall se identifican los porcentajes óptimos de asfalto, para la selección del diseño final de la mezcla. De igual manera se va a realizar el envejecimiento a largo plazo de las mezclas con el diseño final en el laboratorio, para luego calcular el módulo resiliente en la maquina UTM - 30 y hacer una comparación entre las mezclas envejecidas y no envejecidas, para posteriormente realizar el ensayo a tracción indirecta.1. RESUMEN 2. ABSTRACT 3. INSTRUCCIÓN 4. METODOLOGÍA 5. PLANTEAMIENTO DEL PROBLEMA 6. JUSTIFICACIÓN DEL PROBLEMA 7.OBJETIVOS 8. ESTADO DEL ARTE 9. MARCO DE REFERENCIA 10. MARCO TEÓRICO 11. MARCO LEGAL 12. RESULTADOS 13. CONCLUSIONES 14. ANEXOS 15. BIBLIOGRAFIAS ANEXOSEspecializaciónEspecialista en Ingeniería de Pavimento

Structure to obtain energy based on worn tyres

The title of the project is called “Structure to obtain energy based on worn tyres”. The purpose of this project is to study and determine the feasible of the worn tyres structure. The main aim is the highest use of wave movement, in order to create energy with a simple structure, based on joined worn tyres with a simple electrical gadget. At first, the structure is made up of a whole of floating tyres joined with steel wires, in order to achieve a high freedom of movement, creating the shape of a raft. Within each tyre is the electrical structure, a series of electrical gadgets with a reel around a magnet. The exploitation of wave movement is achieved with other whole of submerged tyres joining to the structure through a cylinder, which own a magnet in the top allowing the connection with the raft. This last part converts the wave movement into a vertical movement. To sum up, the energy creation is obtained by means of the inexhaustible wave source, developing a vertical magnet movement within steel. A simple exploitation way of natural resources using waste materials

Water Management Adaptation to Climate Change in Mediterranean Semiarid Regions by Desalination and Photovoltaic Solar Energy, Spain

[EN] Integration of renewable energy sources and water production technologies is a must when facing water scarcity problems in semiarid regions, such as Mediterranean regions. The use of additional water resources and production methods, such as reclaimed water and, more specifically, desalinated water, means present and necessary water resources to introduce in the water balances to attend to water demands within a global warming and droughting scenario. These solutions have the inconvenience of energy/power needs and costs. However, the development of renewable energies like photovoltaic solar energy, with lower and lower costs and greater efficiency, makes these economically feasible facilities, reaching competitive production costs for marine or sea desalinated water by around 50% of reduction in energy costs and 20¿30% of savings in final water production cost. This paper presents a practical project or action focused on the integration of renewable energies and new water resources by introducing a Photovoltaic Energy Plant (PVEP) as an energy source to feed a Seawater Desalination Treatment Plant (SWDTP). The PV facility is designed to cover all the energy demanded using the SWDTP during the day, and even studying the possibility of selling the energy production exceeds and injecting them into the energy supply network, covering the needs of buying energy needed during the high period where there is no photovoltaic energy production. Thus, savings related to energy costs and even incomes coming from energy sales mean an important reduction in operation costs or expenditures (OPEX), which makes economically feasible and sustainable the investment and the final price of water produced within the Mutxamel SWDTP. The final reduction cost in water desalination reaches 25% on average.Gómez Martínez, G.; Pérez-Martín, MÁ. (2023). Water Management Adaptation to Climate Change in Mediterranean Semiarid Regions by Desalination and Photovoltaic Solar Energy, Spain. Water. 15(18):1-28. https://doi.org/10.3390/w15183239128151

Glottal Source Cepstrum Coefficients Applied to NIST SRE 2010

Through the present paper, a novel feature set for speaker recognition based on glottal estimate information is presented. An iterative algorithm is used to derive the vocal tract and glottal source estimations from speech signal. In order to test the importance of glottal source information in speaker characterization, the novel feature set has been tested in the 2010 NIST Speaker Recognition Evaluation (NIST SRE10). The proposed system uses glottal estimate parameter templates and classical cepstral information to build a model for each speaker involved in the recognition process. ALIZE [1] open-source software has been used to create the GMM models for both background and target speakers. Compared to using mel-frequency cepstrum coefficients (MFCC), the misclassification rate for the NIST SRE 2010 reduced from 29.43% to 27.15% when glottal source features are use

Performance analysis of persistence technologies for cloud repositories of models

The growing adoption of Model Driven Development (MDD) in companies during last decade arises some model interchange problems. Companies need support to interchange models and reuse parts of them for developing new projects. Traditional tools for model edition and model interchange have different performance issues related to the models storage. There are mainly two styles to organize the persistence of models into repositories: a complex and large model or a large amount of small models. This last approach is common in companies that generate software from models. In this paper, we analyse performance properties of different persistence technologies to store small/medium-scale models, the analysis results should be considered in the design of model repositories in the cloud. With this aim, we have designed and developed a generic architecture to evaluate each persistence technology under similar situations

Evolución de la producción y comercio mundial de Frutas en el Mundo

El análisis del consumo de fruta en el mundo obliga a estudiar su producción y comercialización. Asia es el continente que produce de forma creciente casi el 50% de la fruta mundial, importando y exportando volúmenes similares, como consecuencia de un creciente consumo interno de fruta. América produce un 21,4% de la fruta mundial, sin embargo exporta el 25% de su producción, lo que refleja un reducido consumo interno, agravado en países pobres donde el porcentaje de exportación supera el 70% de su producción. Europa aporta el 16% de la producción mundial, exportando una cuarta parte, pero importa más de la mitad de la fruta mundial, procedente de África y América. El aumento del consumo interno, los atractivos precios de los productos importados, las importaciones de contra estación y los canales de distribución fuertemente establecidos, son causas que están provocando un nuevo orden económico mundial, que puede que cambie la tendencia actual del comercio de frutas.Esta investigación ha sido financiada por el proyecto “Plan estratégico del sector agroalimentario de la Región de Murcia”, financiado por la Consejería de Agricultura y Medio Ambiente de la Región de Murcia