General equilibrium existence with asset-backed securitization

We propose a specification of a general equilibrium model with securitization of collateral-backed promises and discuss the role of physical collateral to avoid, in equilibrium, pessimistic beliefs about the future rates of default. Promises are pooled in either pass-through securities or collateralized loans obligations (CLO), allowing the existence of different seniority lev- els among tranches in the same CLO. In case of default, borrowers may also suffer extra-economic penalties, which are internalized into a structure of non-ordered preferences. In this context, we prove the existence of an equilibrium in that investors are not over-pessimistic about the payments of derivatives. JEL Codes: D52, D91Asset Backed-Securitization, Extra-economic Default Penalties, Collateral, Non- ordered Preferences

Zernike functions, rigged Hilbert spaces, and potential applications

Producción CientíficaWe revise the symmetries of the Zernike polynomials that determine the Lie algebra su(1, 1) ⊕ su(1, 1). We show how they induce discrete as well as continuous bases that coexist in the framework of rigged Hilbert spaces. We also discuss some other interesting properties of Zernike polynomials and Zernike functions. One of the areas of interest of Zernike functions has been their applications in optics. Here, we suggest that operators on the spaces of Zernike functions may play a role in optical image processing

Iterative design of dynamic experiments in modeling for optimization of innovative bioprocesses

Finding optimal operating conditions fast with a scarce budget of experimental runs is a key problem to speed up the development and scaling up of innovative bioprocesses. In this paper, a novel iterative methodology for the model-based design of dynamic experiments in modeling for optimization is developed and successfully applied to the optimization of a fed-batch bioreactor related to the production of r-interleukin-11 (rIL-11) whose DNA sequence has been cloned in an Escherichia coli strain. At each iteration, the proposed methodology resorts to a library of tendency models to increasingly bias bioreactor operating conditions towards an optimum. By selecting the ‘most informative’ tendency model in the sequel, the next dynamic experiment is defined by re-optimizing the input policy and calculating optimal sampling times. Model selection is based on minimizing an error measure which distinguishes between parametric and structural uncertainty to selectively bias data gathering towards improved operating conditions. The parametric uncertainty of tendency models is iteratively reduced using Global Sensitivity Analysis (GSA) to pinpoint which parameters are keys for estimating the objective function. Results obtained after just a few iterations are very promising.Fil: Cristaldi, Mariano Daniel. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Santa Fe. Instituto de Desarrollo y Diseño. Universidad Tecnológica Nacional. Facultad Regional Santa Fe. Instituto de Desarrollo y Diseño; ArgentinaFil: Grau, Ricardo José Antonio. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Santa Fe. Instituto de Desarrollo Tecnológico para la Industria Química. Universidad Nacional del Litoral. Instituto de Desarrollo Tecnológico para la Industria Química; ArgentinaFil: Martínez, Ernesto Carlos. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Santa Fe. Instituto de Desarrollo y Diseño. Universidad Tecnológica Nacional. Facultad Regional Santa Fe. Instituto de Desarrollo y Diseño; Argentin

Groups, Jacobi functions, and rigged Hilbert spaces

This paper is a contribution to the study of the relations between special functions, Lie algebras and rigged Hilbert spaces. The discrete indices and continuous variables of special functions are in correspondence with the representations of their algebra of symmetry, that induce discrete and continuous bases coexisting on a rigged Hilbert space supporting the representation. Meaningful operators are shown to be continuous on the spaces of test vectors and its dual. Here, the chosen special functions, called “Algebraic Jacobi Functions” are related to the Jacobi polynomials and the Lie algebra is su(2, 2). These functions with m and q fixed, also exhibit a su(1, 1)-symmetry. Different discrete and continuous bases are introduced. An extension in the spirit of the associated Legendre polynomials and the spherical harmonics is presented introducing the “Jacobi Harmonics” that are a generalization of the spherical harmonics to the three-dimensional hypersphere S3

Diseño de sistema automático para el secado y desgrane del fríjol.

Durante el diseño del proceso automático de secado y desgrane de frijol, se tienen en cuenta cada una de las etapas que hay en este proceso, acorde a cada una de estas, se diseñan mecanismos que ayuden a una mejor obtención de los granos de frijol. Cumpliendo con normas establecidas para cada etapa, se diseña la utilización de elementos eléctricos y electrónicos, para tener una visualización de cada variable presente en el sistema. Dada la importancia de cada etapa del proceso, a lo largo del desarrollo del diseño se establecen modificaciones que presten un desempeño mejor para el proceso, estos cambios están presentes en la parte del diseño mecánico

Pathways to Sustainable Intergenerational Programs: Lessons Learned from Portugal

Despite the fundamental role given to the sustainability of intergenerational programming regarding their demonstrated impact on an aging society, only a few studies have undertaken an exploration of the qualitative core dimensions of sustainable intergenerational programs. This article addresses how the sustainability of educational intergenerational programs relates to why and how intergenerational program managers in the Portuguese area of Porto may have developed different attitudes and beliefs around adequate implementation of the programs. Drawing on qualitative interview data of a four-case fieldwork study conducted in Porto, Portugal, the study examines autonomy, empowerment, and intergenerational relationships as dimensions other than time duration behind program sustainability. Attention to the managers’ narratives on how intergenerational programs are implemented can help to explain why some dimensions are more highlighted than others. A qualitative analysis of intergenerational program sustainability, it is argued, offers considerable findings which provide opportunities to its implementation and intersection with managers’ beliefs. Findings suggest a need to de-emphasize both time duration and managers’ persona as the key for sustainability. We recommend intergenerational program sustainability as an area for future theorizing through providing a conceptualizing framework that might go beyond the normative focus on its duration and into the relational nature of these programs

Ground Extraction from 3D Lidar Point Clouds

© 2018 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works Pomares, A., Martínez, J.L., Mandow, A., Martínez, M.A., Morán, M., Morales, J. Ground extraction from 3D lidar point clouds with the Classification Learner App (2018) 26th Mediterranean Conference on Control and Automation, Zadar, Croatia, June 2018, pp.400-405. DOI: PendingGround extraction from three-dimensional (3D) range data is a relevant problem for outdoor navigation of unmanned ground vehicles. Even if this problem has received attention with specific heuristics and segmentation approaches, identification of ground and non-ground points can benefit from state-of-the-art classification methods, such as those included in the Matlab Classification Learner App. This paper proposes a comparative study of the machine learning methods included in this tool in terms of training times as well as in their predictive performance. With this purpose, we have combined three suitable features for ground detection, which has been applied to an urban dataset with several labeled 3D point clouds. Most of the analyzed techniques achieve good classification results, but only a few offer low training and prediction times.This work was partially supported by the Spanish project DPI 2015- 65186-R. The publication has received support from Universidad de Málaga, Campus de Excelencia Andalucía Tech

Educar para innovar, innovar para educar

Trabajo presentado al Congreso Iberoamericano de Ciencia, Tecnología, Innovación y Educación: "Educación para la Cultura Científica", celebrado en Buenos Aires (Argentina) del 12 al 14 de noviembre de 2014.Desde que, a mediados del siglo XX, algunos economistas constataron que la introducción de innovaciones provoca transformaciones cualitativas de las economías, la innovación se introdujo en la agenda de las políticas económicas e industriales de los países y entre las recomendaciones de las organizaciones internacionales que se ocupan del desarrollo económico. Entre los factores que pueden influir sobre la predisposición a innovar de las empresas y entidades de un territorio se encuentra la cultura imperante en el citado territorio y las competencias de las personas que viven en él, tanto por su actitud ante los productos y servicios innovadores como por su papel en los procesos innovadores como profesionales, directivos o empleados de las diversas entidades sociales. Entre innovación y educación hay un vínculo muy estrecho, pues la tarea educativa supone transmitir a los niños y jóvenes las actitudes y herramientas necesarias para su incorporación a la vida activa en la sociedad. En este proceso importa el legado de saberes, destrezas y valores que las sociedades quieren transmitir a las nuevas generaciones y que conforman el currículo, pero también importa el futuro, porque se educa para vivir en un tiempo en el que serán determinantes las competencias para afrontar la incertidumbre y las capacidades creativas para hallar soluciones a problemas aún no planteados. Esa tensión entre la transmisión de un legado bien definido y la preparación para la incorporación a la vida activa en lo profesional y participativa en lo social enmarca buena parte de los desafíos educativos de nuestro tiempo. En esta comunicación se describen las competencias (conocimientos, actitudes y habilidades) que, de acuerdo con los estudios realizados, precisan las personas innovadoras y las características culturales de las organizaciones que favorecen la innovación. Se analizan las contradicciones entre los fines educativos declarados y su concreción real, así como los aspectos que condicionan y limitan la innovación en las instituciones educativas (la hiperregulación de los contextos educativos, los espacios seriados, los tiempos repetidos y los valores de la evaluación) se propone un nuevo enfoque de la profesión docente orientado a favorecer el desarrollo de las competencias que necesitan las personas innovadoras y se indica que independientemente de las restricciones que el docente encuentre en la organización, siempre puede encontrar prácticas docentes que ayuden a mejorar la educación para innovar y se avanza que el ámbito por dónde se pude iniciar estas prácticas sería el de la evaluación, que es la clave de bóveda de los sistemas educativos.Peer Reviewe

Recensions

Obra ressenyada: Michael W. APPLE, Política cultural y educación. Madrid: Editorial Morata, 1996