Tourism and productivity: Case study of the hotel and catering industry in the Andalusian region

The object of this paper is to analyse the situation and evolution of the productivity of the tourism industry in the Andalusian region, and more specifically of the hotel and catering branch, relating it to the organisational structure of its businesses. First of all, the issue of the definition and limitation of the concept of productivity applied to the services sector is addressed, as traditionally this concept is focused on manufacturing, and the different ways of measuring and the analysis methods are reviewed. Then, using the accounting information provided by the Balances Centre of Andalusia (CBA), the general features of the organisational structure of the hotel and catering industry in de Andalusian region, stratifying the samples by the size of the companies and examining the medium size of the Andalusian hotel and catering businesses. Once the organisational structure of the sector is analysed, it is related to the state and evolution of its productivity, using a simple ratio between the brute added value and the personnel expenses, and completing this analysis with a relative efficiency index, the Baldwin efficiency index, with which the technical efficiency of each company is compared to the mass of most efficient companies. As a result of this research it is observed that the productivity indexes increase as web as the size of the companies and during the considered period, especially in the case of the medium sized and large companies. Nevertheless, these productivity increases are less relevant than the increase of employment, especially in case of smaller companies.

A Semiparametric Estimation of Liquidity Effects on Option Pricing

This paper proposes a semiparametric option pricing model with liquidity, as proxied by the relative bid-ask spread. The nonparametric volatility function with liquidity as an explanatory variable is estimated using the Symmetrized Nearest Neighbors (SNN) estimator rather than the traditional kernel estimator. Moreover, special care is taken in obtaining the smoothing parameter. The in-sample performance of the model turns out to be statistically favorable relative to a competing model without liquidity. However, the out-of-sample performance of both models is quite disappointing despite the fact that we are not to reject the stability of risk-neutral densities estimated over different quarters during our sample period.multivariate kernel regression, bandwidth selection, symmetrized nearest neighbors, volatility smile, option pricing

WITH PAST EYES IN THE FUTURE: AN INNOVATIVE APPROACH TO THREE JANE AUSTEN’S WORKS IN THE EFL CLASSROOM

This paper explores the application of literature as the vehicle for culture and language transmission. In order to explore this, three Jane Austen novels have been chosen due to her extraordinary culture representation. As a result, a number of methodologies have been explored as innovative proposals. Later, the application of literature and, most concretely, Jane Austen in the EFL classroom has been explored and justified. Then, the Spanish education regulatory laws have been observed. Considering this, a lesson plan based on literature and the innovative methodologies explored has been designed. This lesson plan includes a set of activities that foster students’ personal reflection and critical thinking. Besides, the lesson plan aims to represent the ideas presented and defended throughout this paper. Therefore, the application of literature and innovative methodologies as teaching method for language and culture has been represented in the lesson plan created.Este trabajo explora la aplicación de la literatura como vehículo para la transmisión de la lengua y la cultura. Para explorar esta idea, se han seleccionado tres novelas de la autora Jane Austen debido a su extraordinaria representación cultural. Como resultado, se han evaluado una serie de metodologías como propuestas innovadoras. Por otro lado, se ha explorado y justificado la aplicación de la literatura y de la autora Jane Austen en las aulas de inglés como lengua extranjera. Más tarde, se han presentado las leyes reguladoras de la educación secundaria y Bachillerato en España. Una vez considerado todo esto, se ha diseñado una unidad didáctica basada en la literatura aplicando las metodologías innovadoras propuestas. La unidad didáctica incluye un conjunto de actividades que fomentan la reflexión personal y el desarrollo del pensamiento crítico de los alumnos. Además, la propia unidad didáctica sirve como representación de las ideas que se han defendido y presentado a lo largo del trabajo. Por lo tanto, la unidad didáctica que se incluye en este trabajo justifica la aplicación de la literatura y las metodologías innovadoras como método de enseñanza de lengua y cultura en las clases de lengua extranjera en los centros españoles de secundaria y Bachillerato.Departamento de Didáctica de la Lengua y LiteraturaMáster en Profesor de Educación Secundaria Obligatoria y Bachillerato, Formación Profesional y Enseñanzas de Idioma

Chromosomal analysis of selected lines of Drosophila melanogaster with a new level of bristle canalization

International audienc

An empirical comparison of the performance of alternative option pricing models

Published as an article in: Investigaciones Economicas, 2005, vol. 29, issue 3, pages 483-523.option pricing, conditional volatility, SNN Nonparametric estimator

Consumer Confidence and Yield Spreads in Europe

This paper shows the extraordinary capacity of yield spreads to anticipate consumption growth as proxy by the Economic Sentiment Indicator elaborated by the European Commission in order to predict turning points in business cycles. This new evidence complements the well known results regarding the usefulness of the slope of the term structure of interest rates to predict real economic conditions and, in particular, recessions by using a direct measure of expectations. A linear combination of European yield spreads explains a surprising 93.7% of the variability of the Economic Sentiment Indicator. Yield spreads seem to be a key determinant of consumer confidence in Europe.consumer confidence, yield spreads, expected real activity, economic sentiment indicator

Captavidina : un nou biocomponent regenerable per a la producció de biosensors reutilitzables?

El rendiment dels biosensors i la seva especificitat depèn, en gran mesura, de l'èxit de funcionalització de la superfície del sensor amb biocomponents de captura adequats. Una varietat d'estratègies de biofuncionalització ha estat descrita fins ara. L'ús de proteïnes d'unió a biotina és un dels enfocaments favorits per dirigir l'orientació de les biomol·lècules i aconseguir un rendiment òptim.El rendimiento de los biosensores y su especificidad depende en gran medida del éxito de funcionalización de la superficie del sensor con biocomponentes de captura adecuados. Una variedad de estrategias de bio-funcionalización ha sido descrita hasta la fecha. El uso de proteínas de unión a biotina es uno de los enfoques favoritos para dirigir la orientación de las biomoléculas y conseguir un rendimiento óptimo.Biosensor performance and specificity strongly depends on the successful functionalisation of the sensing surface with appropriate capture biocomponents. A variety of bio-functionalisation strategies have been described to date, ranging from simple and fast random physisorption to a variety of strategies for directed anchoring. The use of biotin-binding proteins is one of the preferred approaches when searching for biomolecule orientation and optimal performance