The october 2017 Bank Lending Survey in Spain

Artículo de revistaThe results of the Bank Lending Survey show that during the third quarter of 2017 credit standards in the households segment eased somewhat in both Spain and the euro area, while they tightened slightly for enterprises in Spain and remained virtually unchanged for enterprises in the euro area. Demand for loans to enterprises remained stable in Spain, whereas it increased across the euro area as a whole, and household demand grew in both areas. Spanish and euro area banks alike generally perceived unchanged or improved wholesale market access conditions, while in the case of retail markets, a slight deterioration in access conditions was perceived in Spain, which was not observed across the euro area as a whole. Meanwhile, the banks in the survey replied that the ECB’s expanded asset purchase programme has generally helped improve the financial situation over the last six months, except in the case of profitability in the euro area, which has been adversely affected. They also reported that the programme is continuing to encourage an easing of lending conditions for the private non-financial sector. Spanish and euro area banks alike reported that the ECB’s negative deposit facility rate caused a reduction in net interest income in the last six months, having a moderately negative impact on interest rates and the mark-ups on loans to households and businesses, and a positive (albeit small) effect on lending volume

Factores no genéticos modulan el papel de NR5A2 en inflamación pancreática

Tesis inédita de la Universidad Complutense de Madrid, Facultad de Ciencias Biológicas, leída el 03-11-2022Genome-wide association studies have identified pancreatic ductal adenocarcinoma (PDAC) susceptibility variants in the vicinity of the NR5A2 gene, which codes for an orphan nuclear receptor involved in acinar differentiation. Nr5a2 heterozygous mice(Nr5a2+/-) display more severe damage upon induction of pancreatitis and are sensitized to the effects of mutant Kras. The pancreas of Nr5a2+/- mice displays a pre-inflammatory state that mimics transcriptomic changes present in the pancreas of subjects carrying NR5A2 risk alleles. Here, I aimed to determine the contribution of non-genetic factors to pancreatic inflammation in these mice. First, I investigated the effects of administration of a high fat diet (HFD). Wild type (wt) and Nr5a2+/- mice displayed similar changes in body weight gain, insulin resistance, glucose intolerance, and hypercholesterolemia. However, Nr5a2+/- mice presented an attenuated hepatic steatosis. While HFD administration exacerbated experimental pancreatitis in wt mice, this was not observed in Nr5a2+/- mice. These results indicate that Nr5a2 heterozygosity does not cooperate with HFD to induce pancreatic inflammation...Los estudios de asociación del genoma completo han identificado variantes de susceptibilidad al adenocarcinoma ductal pancreático (PDAC) próximos al gen NR5A2,que codifica un receptor nuclear huérfano involucrado en la diferenciación acinar. Los ratones heterocigotos para Nr5a2 (Nr5a2+/-) muestran un daño más grave tras la inducción de pancreatitis y están sensibilizados a los efectos de Kras mutante. El páncreas de ratones Nr5a2+/- muestra un estado preinflamatorio que imita los cambios transcriptómicos presentes en el páncreas de sujetos que portan alelos de riesgo paraNR5A2. El objetivo principal de esta tesis es determinar la contribución de factores no genéticos a la inflamación pancreática en estos ratones. Primero, investigué los efectos de la administración de una dieta alta en grasas (HFD).Los ratones wild type (wt) y Nr5a2+/- experimentaron cambios similares en el aumento de peso corporal, resistencia a la insulina, intolerancia a la glucosa e hipercolesterolemia. Sin embargo, los ratones Nr5a2+/- presentaban menos esteatosis hepática. Si bien la administración de HFD exacerbó la pancreatitis experimental en los ratones wt, esto no se observó en los ratones Nr5a2+/-. Estos resultados indican que la heterocigosidad paraNr5a2 no coopera con HFD en la inducción de inflamación pancreática.,,Fac. de Ciencias BiológicasTRUEunpu

The pass-through of market interest rates to bank interest rates

The pass-through of market interest rates to the financial conditions of households and firms is an essential element in the monetary policy transmission mechanism. In this paper, we analyse how this transmission is playing out in the current hiking cycle in the euro area and in Spain, as compared to previous cycles. We find that the pass-through to the interest rates on retail time deposits is slower than in previous hiking cycles in both jurisdictions. Moreover, a slower pass-through is also observed for mortgages in Spain. We then show there is significant heterogeneity in this pass-through across euro area countries, especially for mortgages and retail time deposits. This heterogeneity is driven by both bank and country characteristics. More specifically, in the case of deposits, we find that almost half of the difference between the remuneration of retail time deposits in Spain and the euro area is driven by differences across banking sectors in the need to raise funds through deposits to supply credit.La traslación de los tipos de interés de mercado al coste de las nuevas operaciones bancarias de los hogares y de las empresas representa un elemento esencial en el mecanismo de transmisión de la política monetaria. En este documento analizamos cómo se está desarrollando esta transmisión en el actual ciclo de subidas de tipos de interés en la zona del euro y en España en comparación con episodios anteriores. Encontramos que la traslación a los tipos de interés de los depósitos a plazo minoristas está siendo más lenta que en el pasado en ambas jurisdicciones. Además, observamos una transmisión también más lenta para el caso de las hipotecas en España. A continuación, ilustramos que esta traslación está siendo heterogénea entre los países de la zona del euro, especialmente para las hipotecas y los depósitos a plazo de los hogares. Esta heterogeneidad está impulsada por las características idiosincrásicas de los bancos y del sector bancario de los países. Más concretamente, para el caso de los depósitos a plazo de los hogares, encontramos que casi la mitad de la diferencia entre su remuneración en España y en la zona del euro vendría determinada por las distintas necesidades del sector bancario de captar fondos a través de depósitos para ofrecer crédito

Phase-field modeling and simulation of fracture in brittle materials with strongly anisotropic surface energy

Crack propagation in brittle materials with anisotropic surface energy is important in applications involving single crystals, extruded polymers, or geological and organic materials. Furthermore, when this anisotropy is strong, the phenomenology of crack propagation becomes very rich, with forbidden crack propagation directions or complex sawtooth crack patterns. This problem interrogates fundamental issues in fracture mechanics, including the principles behind the selection of crack direction. Here, we propose a variational phase-field model for strongly anisotropic fracture, which resorts to the extended Cahn-Hilliard framework proposed in the context of crystal growth. Previous phase-field models for anisotropic fracture were formulated in a framework only allowing for weak anisotropy. We implement numerically our higher-order phase-field model with smooth local maximum entropy approximants in a direct Galerkin method. The numerical results exhibit all the features of strongly anisotropic fracture and reproduce strikingly well recent experimental observations.Peer ReviewedPostprint (author’s final draft

Lane Clark and L2: Thinking, Learning and Teaching English in Spanish Primary Classrooms

This paper analyzes how Lane Clark's approach to developing thinking and learning can be used in an English as a Foreign Language Class to promote second language acquisition

Recent developments in nonbank financing of Spanish firms

Artículo de revistaThe banking sector has traditionally played a key role in the financing of Spanish nonfinancial corporations (NFCs), much more substantial than other alternative sources, such as securities markets or venture capital. The past crisis evidenced that a high degree of dependence on a single source of funding may constitute an element of vulnerability for firms. Against this backdrop, in recent years there has been a process of financial disintermediation, with firms replacing part of their bank loan financing with the issuance of securities (bonds or equity) in official or alternative markets and with equity financing through venture capital entities. Specifically, in the period 2009-2017 NFCs raised funds for an average annual amount of €50 billion through securities markets, compared with an average annual decline of €34 billion through loans. Also, the recently created crowdfunding platforms have become a new alternative channel and although their volumes are marginal for the time being, they could experience stronger growth in the next few years, as has occurred in other European countrie

Psychometric measures of cohesion in university work teams

La cohesión ha sido un concepto ampliamente estudiado en equipos deportivos y organizacionales, pero no ha sido estudiado en equipos de trabajo universitarios. Además, se han usado medidas de la cohesión, como el Sociograma, que no han demostrado su validez de constructo. Este trabajo presenta dos estudios. En el primero, el objetivo es comprobar las evidencias de validez confirmatoria y fiabilidad del GEQ (Group Environmental Questionnaire) en equipos de trabajo universitarios y en él han participado 273 alumnos. En el segundo estudio, se quieren comparar las medidas de la cohesión a través de dos instrumentos: GEQ y Sociograma utilizando dos mediciones antes y después del trabajo grupal. Esta segunda muestra está compuesta por 72 alumnos agrupados en 4 equipos de tamaño similar a un equipo deportivo. Los resultados demuestran que el GEQ presenta niveles de ajuste buenos en equipos de trabajo universitarios (CFI =.995; TLI =.994; RMSEA =.04) y valores de fiabilidad aceptables. Por otra parte, el segundo estudio demuestra que, tras el trabajo grupal, las mediciones de la cohesión a través del GEQ aumentan en sus 4 factores, mientras que la medida cohesión con el Sociograma se mantiene sin cambios. Se concluye que el GEQ es un instrumento sensible a los cambios producidos en la cohesión de un grupo a medida que éste se crea, construye y evoluciona y sin embargo el Índice de Cohesión del Sociograma no lo es, y por tanto no reúne suficientes evidencias de validez de constructo para medir la cohesión.Cohesion has been a widely studied concept in sports and organizational teams but has not been studied in university work teams. In addition, evaluation forms of cohesion have been used, yet their construct validity has not been demonstrated. This work presents two studies. In the first one, the objective is to verify the evidence of confirmatory validity and reliability of the GEQ (Group Environmental Questionnaire) in university work teams through the participation of 273 students. In the second study, we aim to compare the degree of cohesion through both GEQ and Sociograms using two evaluation questionnaires before and after group work. This second sample is composed by 72 students grouped into 4 teams of similar size as that of sports teams. The results show that the GEQ presents good adjustment levels in university work teams (CFI = .995, TLI = .994, RMSEA = .04) and acceptable reliability values. On the other hand, the second study shows that after group work the degree of cohesion through the GEQ increases in its 4 factors, while the extent of cohesion remains unchanged when analyzed through Sociograms. As a conclusion, the GEQ is an instrument sensitive to the changes produced in the cohesion of a group through its creation, construction, and evolution, whilst the Sociogram Cohesion Index is not. Therefore, the latter does not display sufficient evidence of Construct validity to measure cohesion

Psychosocial factors related to the competitive anxiety of sports in training stages

El objetivo de este trabajo es indagar la relación existente entre la ansiedad competitiva de futbolistas y tenistas en etapas de formación y la práctica de deporte por parte de los progenitores. Participaron en este estudio 246 niños deportistas de tenis y fútbol con una media de edad de 10,43 años (DT= 2,42), que han sido evaluados con un cuestionario de datos sociodemográficos y el cuestionario de Ansiedad Competitiva SAS-2 (Ramis, Torregrosa, Viladrich, & Cruz, 2010). Utilizando pruebas t de diferencias de medias independientes y pruebas no paramétricas, los resultados demuestran que los tenistas experimentan más ansiedad somática, mientras que los deportistas de menor edad presentan mayores niveles de preocupación. La práctica deportiva paterna o materna no tiene influencia sobre la ansiedad competitiva en etapas de formación en esta muestra, ya practiquen el mismo deporte que sus hijos o no. Se discute la posibilidad de que, más que la realización de la misma práctica deportiva en sí, sea el contenido de las expectativas de sus padres lo que puede guardar relación con la ansiedad competitiva.The objective of this research is to investigate the relationship between competitive anxiety of tennis and football children athletes in formative stages and their parents’ sport practice. 246 tennis and football children athletes participated in this study with an average age of 10.43 years (SD = 2.42), who have been evaluated with a questionnaire of sociodemographic data and the Sport Anxiety Scale-2 (Ramis et al., 2010). By using independent average samples of T tests and nonparametric tests, the results showed that tennis players experience more somatic anxiety, while younger athletes have higher levels of concern. Paternal or maternal sport practice has no influence on childhood competitive anxiety in formative stages in this sample, whether or not they practice the same sport as their children. Furthermore, it has been discussed the possibility that, rather than performing the same sporting activity itself, the content of their parents’ prospects would be what may be related with the competitive anxiety

Étienne Gilson (1884-1978) y la Filosofía cristiana. Original de Thierry-Dominique Humbrecht

The Introduction to Christian philosophy is a brilliant mature work of Gilson’s. His thought is summarized there. He also goes deeper in many of his central theses, which he presents on three levels: a) Christian philosophy as such; b) Aquinas’ metaphysics; c) his own interpretation of this metaphysics, based on the actus essendi.Introducción a la filosofía cristiana es una brillante obra del Gilson ya maduro. En ella se compendia su pensamiento. Además, ahonda en muchas de sus ideas centrales. Las presenta en tres planos: a) la filosofía cristiana como tal; b) la metafísica de Tomás de Aquino; c) su propia interpretación de esta metafísica, fundamentada en el actus essendi. &nbsp