The yield curve and the macro-economy across time and frequencies

This paper assesses the relation between the yield curve and the main macroeconomic variables in the U.S. between early 1960s and 2009 across time and frequencies, using wavelet analyses. The shape of the yield curve is modelled by latent factors corresponding to its level, slope and curvature, estimated by maximum likelihood with the Kalman filter. The macroeconomic variables measure econmic activity, unemployment, inflation and the fed funds rate. The cross wavelet tools employed - coherency and phase difference - , the set of variables and the length of the sample, allow for a thorough appraisal of the time- variation and structural breaks in the direction,intensity,synchronization and periodicity of the relation between the yield curve and the macro-economy. Our evidence establishes a number of new stylized facts on the yield curve-macro relation; and sheds light on several results found in the literature, which could not have been achieved with analyses conducted strictly in the time-domain(as most of the literature)or purely in the frequency-domain.Macro-finance; Yield curve; Kalman filter; Continuous wavelet transform;Wavelet coherency;Phase-difference

The yield curve and the macro-economy across time and frequencies

This paper assesses the relation between the yield curve and the main macroeconomic variables in the U.S. between early 1960s and 2010 across time and frequencies, using wavelet analyses. The shape of the yield curve is modelled by latent factors corresponding to its level, slope and curvature, estimated by maximum likelihood with the Kalman filter. The macroeconomic variables measure economic activity, unemployment, inflation and the fed funds rate. The cross wavelet tools employed — coherency and phase difference —, the set of variables and the length of the sample, allow for a thorough appraisal of the timevariation and structural breaks in the direction, intensity, synchronization and periodicity of the relation between the yield curve and the macro-economy. Our evidence establishes a number of new stylized facts on the yield curve-macro relation; and sheds light on several results found in the literature, which could not have been achieved with analyses conducted strictly in the time-domain (as most of the literature) or purely in the frequency-domain.Macro-finance; Yield curve; Kalman filter; Continuous wavelet transform; Wavelet coherency; Phase-difference.

Synchronization of Economic Sentiment Cycles in the Euro Area: a time-frequency analysis

We use wavelet tools and Economic Sentiment Indicators to study the synchronization of economic cycles in the Euro Area. We assess the time-varying and frequency-varying pattern of business cycles synchronization in the Area and test the impact of the creation of the European Monetary Union in 1999. Among several results, we find that (a) the EMU is associated with a significant increase in synchronization of economic sentiment in the Euro Area; (b) the hard-peg of its currency to the Euro led to a comparable synchronization of Denmark's economic sentiment after 1999, differently from what happened in the case of the UK.Business cycle synchronization; Economic sentiment; Euro Area; Continuous wavelet transform; Wavelet coherency; Wavelet distance; Phase-difference.

How to be an Anti-Racist Educator: A Book Review Through an Educational Perspective

The authors reviewed the book How to be an Antiracist by Ibram X. Kendi (2019) while reflecting on how Kendi’s brilliant dismantlement of racism and discrimination would help educators become conscious of how racism operates in our society, their schools, and their communities. Kendi’s book could motivate teachers to self-reflect on intrinsic feelings and misconceptions about race and culture built over time, allowing them to adopt new attitudes towards their students and school community. The authors considered the need to reevaluate systemic racism in schools as research has, for instance, found evidence of discriminatory practices towards African American boys (Gregory & Roberts, 2017). Therefore, teachers must engage in their subjective experiences about race to avoid decisions based on stereotypes and fight different forms of systemic racism in schools

Using conceptual maps in physics classes

Concept Maps: Theory, Methodology, Technology Proc. of the First Int. Conference on Concept Mapping A. J. Cañas, J. D. Novak, F. M. González, Eds. Pamplona, Spain 2004This Poster follows, on the one hand, from the long-term use of concept maps in classes by one of the authors, and her reflection upon this use; it follows, on the other hand, from the fact that the declared theme is an important subject in the research being carried out by the other two authors. We begin with a necessarily-brief introduction to meaningful learning and its mechanisms, following Ausubel’s and Novak’s meaningful learning theory; we then refer generically to the concept maps, showing how we have both introduced them to pupils and used them in classrooms, and we conclude by presenting two examples (from the many that we could present) to illustrate not only the use that we have made of them, but also their usefulness. Basically, we will present some ideas that we have elaborated and discussed, and which are applicable in what concerns concept maps, and consequently submit them to discussion with the teachers and researchers present in this meeting

Insights into a dinoflagellate genome through expressed sequence tag analysis

BACKGROUND: Dinoflagellates are important marine primary producers and grazers and cause toxic "red tides". These taxa are characterized by many unique features such as immense genomes, the absence of nucleosomes, and photosynthetic organelles (plastids) that have been gained and lost multiple times. We generated EST sequences from non-normalized and normalized cDNA libraries from a culture of the toxic species Alexandrium tamarense to elucidate dinoflagellate evolution. Previous analyses of these data have clarified plastid origin and here we study the gene content, annotate the ESTs, and analyze the genes that are putatively involved in DNA packaging. RESULTS: Approximately 20% of the 6,723 unique (11,171 total 3'-reads) ESTs data could be annotated using Blast searches against GenBank. Several putative dinoflagellate-specific mRNAs were identified, including one novel plastid protein. Dinoflagellate genes, similar to other eukaryotes, have a high GC-content that is reflected in the amino acid codon usage. Highly represented transcripts include histone-like (HLP) and luciferin binding proteins and several genes occur in families that encode nearly identical proteins. We also identified rare transcripts encoding a predicted protein highly similar to histone H2A.X. We speculate this histone may be retained for its role in DNA double-strand break repair. CONCLUSION: This is the most extensive collection to date of ESTs from a toxic dinoflagellate. These data will be instrumental to future research to understand the unique and complex cell biology of these organisms and for potentially identifying the genes involved in toxin production

Endemicity Analysis of the Ichtyofauna of the Rio Doce Basin, Southeastern Brazil

The Rio Doce is a very important freshwater system in Brazil running through the Atlantic Forest, however available information about its biodiversity is scarce. In 2015, the Rio Doce basin was damaged by a burst of Fundão tailing dam in Mariana (Minas Gerais) causing an extraordinary environmental damage, with consequences still incompletely known. In the present paper we analyzed 6042 latitude/longitude records of 208 fish species from the Rio Doce deposited in collections prior to November 2015, in order to identify areas of endemism in the river before the burst. Several areas of endemism were identified along the basin, most of them describing small and novel patterns. Our analyses helped to identify areas of major diversity along the basin as well as information gaps concerning fish sampling. We hope this contribution will help obtaining quantitative measures on the impact caused by the Fundão dam catastrophe on fish biodiversity and will be useful to orient general actions towards the restoration of the basin.Fil: Sarmento Soares, Luisa M.. Universidade Estadual de Feira de Santana; Brasil. Universidade Federal do Espírito Santo; Brasil. Instituto Nossos Riachos; BrasilFil: Martins Pinheiro, Ronaldo F.. Instituto Nossos Riachos; BrasilFil: Casagranda, Maria Dolores. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico - Tucumán. Unidad Ejecutora Lillo; Argentin

Modelo espacial de avaliação do uso do solo em ambiente SIG: o caso da localização industrial

O planeamento do território, no qual se insere a localização industrial, obedece a um processo de classificação do uso do solo. Este diferencia o espaço territorial para um determinado tempo de vigência, devidamente regulamentado, possibilitando controlar as intervenções sobre o território. A localização de novas unidades industriais no território assume grande importância, quer do ponto de vista da sua estruturação, quer do ponto de vista do impacto ambiental causado. Assim, a escolha da sua localização deverá harmonizar diversos factores relativos às características físicas, políticas e sócio-económicas de uma dada região, de forma a conciliar os interesses dos investidores com os de uma gestão adequada do uso do solo. A apreciação da aptidão do uso do solo, quer qualitativa quer quantitativa, para a localização de novas indústrias, envolve a selecção e avaliação de um conjunto de critérios associados à decisão em causa. O modelo espacial de avaliação do Uso do Solo desenvolvido, e aqui apresentado, considera na sua formulação a perspectiva dos empresários industriais e do ordenamento do território permitindo desenvolver mapas de aptidão para um território em análise. O modelo espacial é implementado em ambiente SIG o que permite modelar e visualizar a contribuição de cada critério no processo de decisão e possibilita a identificação das áreas mais aptas para o uso industrial por comparação das diferentes alternativas espaciais existentes. O facto do modelo ser implementado em ambiente SIG torna fácil qualquer reavaliação da aptidão do território devido a alterações que impliquem variações na importância relativa dos critérios avaliados para o território em análise. A metodologia apresentada permite ainda que se obtenham diferentes mapas de acordo com diferentes estratégias associadas ao processo de decisão, alterando a importância relativa dos critérios, fazendo variar a trade-off entre critérios ou admitindo diferentes tipos de atitude perante o risco associado à decisão. Será ainda apresentado um Caso de Estudo aplicado ao município de Vieira do Minho que permitirá validar a metodologia apresentada, bem como identificar as suas potencialidades

Contribuição ao debate sobre política nacional de informação científica e tecnológica

Análise sucinta das formas pelas quais a ciência é historicamente produzida e dos seus condicionamentos econômico-sociais, ressaltando-se alguns aspectos da vinculacão da atividade científica à produção no capitalismo e que condicionam a definição de políticas científicas e políticas de informação, sobretudo num país dependente como o Brasil. Aspectos políticos e econômicos das medidas de política científica e de informação: a industralização da ciência e o seu controle pelo sistema produtivo; importância da produção científica e da informação dela decorrente para a reprodução e expansão do sistema dominante; sua transformação em mercadoria e sua utilização como instrumento de dominação e poder. Considerações sobre o sistema científico brasileiro e a questão de uma política nacional de informação científica e tecnológica. Descritores Produção científica/condicionamentos econômico-sociais. Ciência/Produção/Capitalismo. Política científica; Política de informação científica e tecnológica no Brasil. Abstract A briet analysis of the historical development of Science and its economic and social determinants; emphasis on some aspects of interaction between scientific activity and production in capitalist systems which define scientific and Information policies, particularly in a dependent country like Brasil. Polítical and economic aspects of scientific an Information policies: the industrialization of Science and its control by the productive system; importance of scientific productivity and of Information to the reproduction and development of the dominant system, its transformation into a commodity and its utilization as an instrument of domination and power. Some consideration of the Brazilian Scientific system and the question of a National Scientific and Technological Information policy