Cartas al Papa : modelos epistolares en los manuales de correspondencia de los siglos XVI-XVII

The spreading of letter-writing and its social implication during the Modern Age resulted in the appearance of books in vernacular languages to learn how to write a letter correctly from the mid-Sixteenth century in Spain, as well as the rest of Europe. Among the varied examples offered to the readers to adapt their correspondence to the customs and conventions of this time, it’s possible to find some letters directed to the Pope, who certainly had to be one of the most demanding addressees. In these treatises the Pontiff not only appears as the absent to whom the missives are written, but he also sometimes takes the quill. This collection of model letters makes up a imaginary correspondence that must be studied from the perspective of the epistolary theory, analyzing the typologies of letters proposed, the epistolary topics and themes allowed – the matters that could be discussed directly with the Pope, and those other ones that required intermediaries –, the authorized senders and their self-representative strategies on the paper

Young L2 learners' online processing of information in a graded reader during reading-only and reading-while-listening conditions: A study of eye-movements

Combining reading with auditory input has been shown to be an effective way of supporting reading fluency and reading comprehension in a second language. Previous research has also shown that reading comprehension can be further supported by pictorial information. However, the studies conducted so far have mainly included adults or adolescents and have been based on post-reading tests that, although informative, do not contribute to our understanding of how learners' processing of the several sources of input in multimodal texts changes with the presence of auditory input and the effect that potential differences could have on comprehension. The present study used eyetracking to examine how young learners process the pictorial and textual information in a graded reader under reading only and reading-while-listening conditions. Results showed that readers spent more time processing the text in the reading only condition, while more time was spent processing the images in the reading-while-listening mode. Nevertheless, comprehension scores were similar for the readers in the two conditions. Additionally, our results suggested a significant (negative) relationship between the amount of time learners spent processing the text and comprehension scores in both modes

Financial stability consequences of the expected credit loss model in IFRS 9

Artículo de revistaFollowing the G20 mandate, there has been a move from incurred loss approaches for the recognition of credit losses to expected credit loss approaches. Since 1 January 2018, European banks follow the approach defined by IFRS 9, according to which, exposures are allocated to three stages depending on their relative credit risk. These stages require different time horizons for the computation of expected credit losses and different basis for interest accrual. Overall, the timelier and fuller recognition of credit losses is expected to bring substantial benefits to financial stability. However, IFRS 9 is not going to be applied with perfect foresight. On the contrary, expected credit loss models would be able to anticipate downturns only shortly before their occurrence. At the onset, a system-wide sizable increase in provisions associated with expected credit losses can be expected, which may have undesired procyclical effects via banks’ profits and regulatory capital. The paradigm shift in accounting for credit losses may call for a policy reflection on: i) the importance of supervisory stress tests; ii) a call for simplicity in models; iii) the need for better and harmonised disclosures; iv) the expectations on the use of cyclical capital buffers, and v) the interaction with the current regulatory framework

From Lost Turnover to Nonperforming Loans: The Impact of the COVID-19 Pandemic on the Economy and on the Financial System

The COVID-19 pandemic created an unprecedented economic shock across the world. As a result of the coronavirus outbreak and the related health measures, nonfinancial corporations providing nonessential goods or services that cannot be consumed remotely have experienced a large decrease in their turnover. Using balance sheets and flows statements, we are able to quantify the impact of the pandemic on nonfinancial corporations and households, according to several scenarios for the pandemic over 2021. The impact is largely heterogeneous across sectors and amounts to up to 20% of the turnover for euro area nonfinancial corporations. Stress in these corporations and households can spill over to banks in the form of nonperforming loans (NPLs). The size and targeted nature of government support as well as the financial soundness (that is, net worth) with which economic agents entered the pandemic define the amount of NPLs that arise. Based on our estimates, the increase of NPLs seems limited, also when considering second-round effects from corporate insolvencies (about 5% to 7% of total loans). However, in certain cases, when banks are only slightly above the minimum prudential requirement of the leverage ratio, their solvency position may be threatened

Pricing tranched credit products with generalized multifactor models

The market for tranched credit products (CDOs, Itraxx tranches) is one of the fastest growing segments in the credit derivatives industry. However, some assumptions underlying the standard Gaussian onefactor pricing model (homogeneity, single factor, Normality), which is the pricing standard widely used in the industry, are probably too restrictive. In this paper we generalize the standard model by means of a two by two model (two factors and two asset classes). We assume two driving factors (business cycle and industry) with independent tStudent distributions, respectively, and we allow the model to distinguish among portfolio assets classes. In order to illustrate the estimation of the parameters of the model, an empirical application with Moody's data is also included

Eros, Thánatos y Psique: una complicidad triádica

Se parte de personajes mitológicos para analizar la relación triádica entre erotismo/ creación, sufrimiento/pulsión de muerte y psicoanálisis, disertación que hacen los autores desde sus diversas prácticas docentes y de investigación. Para ello se retoma la idea de que la creatividad no es coto de poder de algún campo disciplinar específico, que se puede abordar como proceso epistémico, comunicativo, artístico, sensoperceptual, inconsciente. Entrar al mundo de la creación es entrar al mundo de las posibilidades, para imaginar y recrear universos excluidos.Se parte de personajes mitológicos para analizar la relación triádica entre erotismo/ creación, sufrimiento/pulsión de muerte y psicoanálisis, disertación que hacen los autores desde sus diversas prácticas docentes y de investigación. Para ello se retoma la idea de que la creatividad no es coto de poder de algún campo disciplinar especíÀco, que se puede abordar como proceso epistémico, comunicativo, artístico, sensoperceptual, inconsciente. Entrar al mundo de la creación es entrar al mundo de las posibilidades, para imaginar y recrear universos excluidos

Simplicial degree in complex networks. Applications of Topological Data Analysis to Network Science

Network Science provides a universal formalism for modelling and studying complex systems based on pairwise interactions between agents. However, many real networks in the social, biological or computer sciences involve interactions among more than two agents, having thus an inherent structure of a simplicial complex. We propose new notions of higher-order degrees of adjacency for simplices in a simplicial complex, allowing any dimensional comparison among them and their faces, which as far as we know were lacked in the literature. We introduce multi-parameter boundary and coboundary operators in an oriented simplicial complex and also a novel multi-combinatorial Laplacian is defined, which generalises the graph and combinatorial Laplacian. To illustrate the potential applications of these theoretical results, we perform a structural analysis of higher-order connectivity in simplicial-complex networks by studying the associated distributions with these simplicial degrees in 17 real-world datasets coming from different domains such as coauthor networks, cosponsoring Congress bills, contacts in schools, drug abuse warning networks, e-mail networks or publications and users in online forums. We find rich and diverse higher-order connectivity structures and observe that datasets of the same type reflect similar higher-order collaboration patterns. Furthermore, we show that if we use what we have called the maximal simplicial degree (which counts the distinct maximal communities in which our simplex and all its strict sub-communities are contained), then its degree distribution is, in general, surprisingly different from the classical node degree distribution.Comment: 52 pages, 12 figures, 4 table

Poniendo matices a nuestro conocimiento de la participación deportiva. Un modelo empírico-analítico para investigar diferencias participativas ambientales

En este artículo se pretende comunicar los aspectos teóricos y los procedimientos seguidos para efectuar análisis comparados de ambientes de práctica deportiva dentro de un mismo sistema social y desde un enfoque cuantitativo. Se abordan los problemas epistémicos, proponiendo como unidad de observación y análisis la posición del binomio participativo, compuesto por un sujeto y una sola modalidad de práctica. Analizando las relaciones pautadas entre ambos pueden determinarse, a priori o a posteriori, diversos ambientes de práctica. Para el tratamiento cuantitativo de esta nueva unidad de análisis, se propone una transformación de la matriz de datos. Siguiendo la perspectiva a priori para la determinación de ambientes, se sugiere a continuación un procedimiento formal para clasificar nuestras observaciones en diversos ambientes de práctica y así poder proceder a su análisis posterior. Se propone un modelo algorítmico relativamente simple que otorga valores de salida distintos a los diversos patrones ambientales de relación entre el sujeto y la modalidad practicada. Se adelantan resultados acerca de las diferencias encontradas en un conjunto de variables personales y familiares, que sugieren la necesidad de matizar el conocimiento que tenemos de algunas variables influyentes en el comportamiento frente a la práctica deportiva