Explaining Currency Crises: A Duration Model Approach

This paper is an empirical investigation into the duration of exchange rate episodes characterized by the absence of speculative attacks. We estimate a duration model for OECD countries during the 1970-1997 period. Specifically, we use semi-parametric methods to estimate model with unrestricted base-line hazards. The use of duration models allows us to account for duration dependence among the determinants of the likelihood of speculative attacks. We can test if the length of the time already spent on the peg is a determinant of the probability of exit into a currency crisis state. The results indicate, first, that increases in export growth, bank deposits growth and openness predict a decrease in the probability of exit into a currency crises state. Whereas, increases in import growth; claims on government and capital inflows in terms of portfolio investment and appreciated REER, contribute positively to the likelihood of an occurrence of a crisis. And second, the existence of a highly significant negative duration dependence. The highest probability of exit into a currency crash state is given at the initial of the peg, decreasing afterwards. This suggests the existence of a political cost of realignment that changes over the duration of the spell;growing credibility surrounding an exchange-rate-based stabilization program reduce the probability that the peg will be abandoned.Currency crises, speculative attacks, exchange rates, hazard functions, duration models

Multimode Fock states with large photon number: effective descriptions and applications in quantum metrology

We develop general tools to characterise and efficiently compute relevant observables of multimode $N$-photon states generated in non-linear decays in one-dimensional waveguides. We then consider optical interferometry in a Mach-Zender interferometer where a $d$-mode photonic state enters in each arm of the interferometer. We derive a simple expression for the Quantum Fisher Information in terms of the average photon number in each mode, and show that it can be saturated by number-resolved photon measurements that do not distinguish between the different $d$ modes.Comment: 18 pages, 11 figures. V2: Minor change

On the spectroscopy of quantum dots in microcavities

At the occasion of the OECS conference in Madrid, we give a succinct account of some recent predictions in the spectroscopy of a quantum dot in a microcavity that remain to be observed experimentally, sometimes within the reach of the current state of the art.Comment: OECS11 Conference proceedings, in editor style. 4 pages, 1 figure. Animations provided separatel

Chopper Line Studies

In the layout of the LINAC4, a Medium Energy Beam Transport (MEBT) is placed between the RFQ and the DTL, comprising a chopper and matching the beam parameters to the DTL

Two-photon spectra of quantum emitters

We apply our recently developed theory of frequency-filtered and time-resolved N-photon correlations to study the two-photon spectra of a variety of systems of increasing complexity: single mode emitters with two limiting statistics (one harmonic oscillator or a two-level system) and the various combinations that arise from their coupling. We consider both the linear and nonlinear regimes under incoherent excitation. We find that even the simplest systems display a rich dynamics of emission, not accessible by simple single photon spectroscopy. In the strong coupling regime, novel two-photon emission processes involving virtual states are revealed. Furthermore, two general results are unraveled by two-photon correlations with narrow linewidth detectors: i) filtering induced bunching and ii) breakdown of the semi-classical theory. We show how to overcome this shortcoming in a fully-quantized picture.Comment: 27 pages, 8 figure

The Importance of Social Work in the Latin American Association Movement of People Affected by Low Prevalence Diseases

This article analyses the experiences of the association movement in Latin America that brings together individuals and families with rare (RD) or low prevalence diseases (LPD). It also looks at their needs from global health, social, research and education perspectives. The nature of social work assessments and interventions in rare diseases helps us better understand the needs of people with RDs or LPDs and facilitates the creation of associations. Social work aims at consolidating the social fabric that will lead to the recognition of RDs as a health and social priority at an international level

Efectos de la diversificación ganadera de las explotaciones agrícolas en la adopción de innovaciones

publishedTomo I . Sección: Sistemas Ganaderos-Economía y Gestión. Sesión: Sostenibilidad. Ponencia nº 3

HoloTrap: Interactive hologram design for multiple dynamic optical trapping

This work presents an application that generates real-time holograms to be displayed on a holographic optical tweezers setup; a technique that allows the manipulation of particles in the range from micrometres to nanometres. The software is written in Java, and uses random binary masks to generate the holograms. It allows customization of several parameters that are dependent on the experimental setup, such as the specific characteristics of the device displaying the hologram, or the presence of aberrations. We evaluate the software's performance and conclude that real-time interaction is achieved. We give our experimental results from manipulating 5 micron-diametre microspheres using the program.Comment: 17 pages, 6 figure

COVID-19: Are Spanish medicine and nursing students prepared?

The new coronavirus, 2019-nCov or COVID-19, has become a global pandemic since Chinese authorities informed the World Health Organization (WHO) of several cases of pneumonia of unknown aetiology in the city of Wuhan on 31 December 2019. The virus quickly spread throughout China and affected other Asian countries before leaping towards America, Africa, Oceania and Europe (Spanish Ministry of Health, 2020)..