Oil price shocks and real GDP growth: empirical evidence for some OECD countries

This paper assesses empirically the effects of oil price shocks on the real economic activity of the main industrialised countries. Multivariate VAR analysis is carried out using both linear and nonlinear models. The latter category includes three approaches employed in the literature, namely, the asymmetric, scaled and net specifications. We find evidence of a non-linear impact of oil prices on real GDP. In particular, oil price increases are found to have an impact on GDP growth of a larger magnitude than that of oil price declines, with the latter being statistically insignificant in most cases. Among oil importing countries, oil price increases are found to have a negative impact on economic activity in all cases but Japan. Moreover, the effect of oil shocks on GDP growth differs between the two oil exporting countries in our sample, with the UK being negatively affected by an oil price increase and Norway benefiting from it. JEL Classification: E32, Q43Macroeconomic fluctuations, Non-linear models, Oil price shock

Aggregate Employment Dynamics and (Partial) Labour Market Reforms

European labour markets have undergone several important innovations over the last three decades. Most countries have reformed their labour markets since the mid-1990s, with the liberalization of fixed-term contracts and temporary work agencies being the common elements to such reforms. This paper investigates the existence of a change in the dynamic behaviour of the aggregate employment for major European Union countries - France, Germany, Italy, and Spain. According to our results, partial labour market reforms have made the response of the aggregate employment to output shocks larger and quite comparable to that found for the UK - the most flexible labour market in Europe since the Thatcher reforms.labour market deregulation; dynamic responses

Calculation of the Risk of Lawsuits over Construction Flaws in Flat Roofs

In order to achieve sustainability objectives in the use of a building, its elements’ operating problems should be minimized. From this premise, a total of 497 cases related to construction flaws in flat roofs were analyzed in this research. A matrix was developed indicating the risk of lawsuits by owners according to the degree of nuisance resulting from the construction flaws studied, their technical importance, and the type of pathological origin. Based on these factors, it is possible to predict a greater or lesser probability of an owner filing a lawsuit—risk factor (F). A wide range was found for this probability, with the largest value being 865 times greater than the smallest value. The value of F was divided into 5 categories to classify the diverse results obtained and determine the number of cases and interrelations ascribed to each category. Additionally, the level of presence of said cases was calculated through the analysis of 3 di erent demographic aspects, it being noted that a greater purchasing power and a higher concentration of urban population lead to more stringent requirements and, subsequently, to a greater number of lawsuits. With all these results, building quality can be improved while resulting in greater constructive-financial sustainability and in a reduction of the economic resources required of society (fewer lawsuits and associated human resources)

Food price pass-through in the euro area The role of asymmetries and non-linearities

In this paper we analyse the pass-through of a commodity price shock along the food price chain in the euro area. Unlike the existing literature, which mainly focuses on food commodity prices quoted in international markets, we use a novel database that accounts for the role of the Common Agricultural Policy in the European Union. We model several departures from the linear pass-through benchmark and compare alternative specifications with aggregate and disaggregate food data. Overall, when the appropriate dataset and methodology are used, it is possible to identify a significant and longlasting food price pass-through. The results of our regressions are applied to the strong increase in food prices in the 2007-08 period; a simple decomposition exercise shows that commodity prices are the main determinant of the increase in producer and consumer prices, thus solving the pass-through puzzle highlighted in the existing literature for the euro area. JEL Classification: C32, C53, E3, Q17food commodity prices, inflation, non-linearities, Pass-Through

Post-EMS exchange risk trends: A comparative perspective between Euro, British Pound and Japanese Yen excess returns against US Dollar

This paper studies the exchange rate risk of Euro, Pound and Yen against US Dollar before and after the EMU. The key question is to analyse the impact of the Euro to exchange rate risks. The risk is measured by estimating risk price coefficient (RPC) from an excess return equation. A conditional heteroskedastic variance model with time-varying mean is estimated for this purpose. Recursive estimates are used to examine the evolution of the parameters and to find out time-varying risk premia. Results show that after a period of adaptation following the introduction of the Euro, the Euro/US Dollar RPC decreased.Exchange rate risk, GARCH-M, risk-price, times series, recursive estimation

A new manual wheelchair propulsion system with self-locking capability on ramps

A wheelchair user faces many difficulties in their everyday attempts to use ramps, especially those of some length. The present work describes the design and build of a propulsion system for manual wheelchairs for use in ascending or descending long ramps. The design is characterized by a self-locking mechanism that activates automatically to brake the chair when the user stops pushing. The system consists of a planetary transmission with a self-locking capacity coupled to a push rim with which the user moves the system. Different transmission ratios are proposed, adapted to the slope and to the user’s physical capacity (measured as the power the user can apply over ample time periods). The design is shown to be viable in terms of resistance, and approximate dimensions are established for the height and width of the propulsion system. Also, a prototype was built in order to test the self-locking system on ramps

Revisión de procesos de fractura de cadera 2014

24 páginas.Trabajo de Curso de Experto Universitario en Atención al Trauma Grave (2014). Director/Tutor: Manuel García del Río. La fractura de cadera sigue siendo una de las patologías más frecuentes en pacientes mayores, 9 de cada 10 con fractura de cadera tienen 65 años de edad o más y múltiples problemas médicos. La fractura de cadera, entre todas las osteoporóticas, resulta de gran interés, ya que crea un problema de importancia asistencial, de gestión hospitalaria, económico, social y sanitario. Además, es causa de una mortalidad elevada. En esta población se detectan como factores pronósticos de mortalidad en el primer año: la edad, el sexo masculino, la puntuación ASA y menor puntuación en las escalas de valoración MiniMental e Índice de Barthel. Su frecuencia va en aumento de forma paralela al incremento de la expectativa de vida de la población mayor de 65 años. Son factores de riesgo para su producción: la involución producida por la edad, que disminuye la coordinación neuromuscular, la visión, la audición y los sistemas de alerta autónomos; comorbilidades y la disminución de la capacidad cognitiva que disminuye el estado reactivo ante la marcha y el desequilibrio; el aumento de la utilización de fármacos en los ancianos, especialmente los psicótropos, que alteran aún más estas discapacidades facilitando la caída y la fractura. El tratamiento considerado más idóneo de la fractura de cadera comienza desde el momento de la atención inicial, con la evaluación y adecuado control de las enfermedades médicas previas, y que es necesario corregir antes de la intervención quirúrgica. Conseguirlo en las primeras 24 horas es posible y, ha demostrado que reduce la incidencia de complicaciones y mortalidad temprana. También se han identificado un elevado número de buenas prácticas en el período perioperatorio. Todas estas medidas van encaminadas a mejorar los resultados a corto plazo de forma coste-efectiva al disminuir las numerosas complicaciones que acechan a esta frágil población de riesgo, acortando su estancia hospitalaria y fomentando un retorno a la comunidad en las mejores condiciones para optar al mayor grado de recuperación posible