International recycling of petrodollars

The continued rise in oil prices since 2002 has resulted in a significant increase in export revenue for oil exporting countries. This increase in the price of oil and other commodities means that OPEC countries and Russia have received, between 2003 and 2006, a windfall of 1.3 trillion dollars with respect to their export level in 2002. This paper analyzes, using the limited data available, the recycling of these resources back to the world economy through the trade channel, via higher imports, or the financial channel, via an increase in the net external asset position of these countries. Our results show that around 50% of the windfall revenue has been used to increase imports, while the rest has been directed towards international reserve accumulation and other improvements in the net asset position of these countries. Comparing the current oil price increase with previous ones, such as those resulting from the tightening of oil supply in the 70’s, we find that the trade channel has been more important in the current episode than in previous ones. This can be attributed to (i) the perception of a more permanent increase in the price of oil in the context of rising demand, and (ii) the gradualism of the current oil price increase, which has allowed a stronger response from imports.Oil exporting countries; oil revenues; oil windfall; recycling; trade; imports; exports; reserve accumulation; marginal propensity to import; petrodollars; OPEC; Russia

Ecology of an isolated mangrove lagoon (Playa Medina, Venezuela) and its potential use as sewage pond

The present study focuses on the hydrochemical conditions of a coastal mangrove lagoon in Venezuela which is completely isolated from the sea, lacking any visible connections such as tidal channels, preventing in this way tidal flushing. These isolation conditions introduced important changes in vegetation, soil salinity and hydrology. The aim of this paper is to relate some of the effects of disconnection, with the potential use of the mangrove as a sewage pond for treated domestic wastewater. Available data are analyzed on soil properties, hydrochemistry and water level fluctuations of surface and groundwater, recorded through a whole hydrological year. Present day mangrove characteristics are examined through the scrutiny of recordable historical disturbances. Finally, the potential effect of treated wastewater to be supplied to the lagoon is estimated, on the basis of local climate trends. It is concluded that the present day surface water quality would be impaired, and the desalinization process of soil and groundwater accelerated. The annual volume of residual water to be supplied would equal a 20% increase in the local precipitation regime, supply that would deeply alter the existing flood/drought regime. It is suggested that recuperating the original mangrove connection to the sea through channel opening may alleviate the impact of wastewater discharge.S'estudien les condicions hidroquímiques d'una llacuna costanera de manglar que es troba actualment aïllada del mar, a la qual li manquen connexions visibles amb aquest com canals o rambles de marea; no està per tant sotmesa a l'acció de la marea. Aquest aïllament ha provocat canvis importants en la composició de la comunitat de manglar, en el contingutde sals del sòl i en les característiques hidrològiques. L'objectiu d'aquest estudi és relacionar alguns dels efectes de l'aïllament sobre la llacuna de manglar i el seu ús potencial com a receptora d'aigües residuals tractades d'un complex hoteler veí. S'analitzen dades disponibles dels sòls, hidroquímica i fluctuacions del nivell d'aigües superficials i subterrànies, registrades durant un cicle hidrològic complet. Les característiques actuals del manglar s'estudien mitjançant dades històriques. Finalment, l'efecte de la incorporació d'aigües residuals tractades a la llacuna s'avalua en base a les tendències climàtiques locals. Es conclou que la qualitat de l'aigua de la llacuna actual podria empitjorar amb la descàrrega de les aigües residuals i que el procés de desalinització existent s'acceleraria. El volum anual d'aigua afegit equivaldria a un increment del 20% de la precipitació actual. Aquest suplement d'aigua dolça podria alterar profundament el règim d'inundació / sequera del present. Per alleugerir l'impacte de la descàrrega d'aigua tractada a la llacuna, se suggereix recuperar les connexions originals del manglar amb el mar

Efectes de contorn i grandària en emulsions de cristalls líquids cromònics

Treballs Finals de Grau de Química, Facultat de Química, Universitat de Barcelona, Any: 2023, Tutors: Jordi Ignés Mullol, Francesc Sagués Mestre, Ramon Santiago Herrera RestrepoLiquid crystals (LCs) are unique states of matter that exhibit both liquid and crystal properties. From the 19th century until now, extensive research has been carried out to understand and take advantage of the fascinating properties of liquid crystals. An intriguing subclass of liquid crystals is the lyotropic chromonic liquid crystal (LCLC). Unlike thermotropic liquid crystals as 5CB, which form through temperature changes, LCLCs are formed when certain organic molecules, known as chromonic dyes, are dissolved in solvents such as water. These LCLCs exhibit a rich variety of phase behavior and unique optical properties, making them of great interest to various applications, including screens, sensors, and biomedical devices. One of the most famous LCLC is Sunset Yellow (SSY). To Describe the confinement of 5CB and SSY and observe phenomena such as the boundary effects in emulsified droplets will be one of the aims of our work. In order to form the emulsions, microfluidic systems will be used. They use small channels and precise control of fluid flows to create well-defined structures and patterns of liquid crystals. This approach offers several advantages, such as high performance, precise control of the size and shape of droplets, and the ability to create complex geometries. Once the emulsions are generated, we will study the properties of confined LCs in droplets and their behavior in front of an external magnetic field

Canales de reciclaje internacional de los petrodólares

The continued rise in oil prices since 2002 has resulted in a significant increase in export revenue for oil exporting countries. This increase in the price of oil and other commodities means that OPEC countries and Russia have received, between 2003 and 2006, a windfall of 1.3 trillion dollars with respect to their export level in 2002. This paper analyzes, using the limited data available, the recycling of these resources back to the world economy through the trade channel, via higher imports, or the financial channel, via an increase in the net external asset position of these countries. Our results show that around 50% of the windfall revenue has been used to increase imports, while the rest has been directed towards international reserve accumulation and other improvements in the net asset position of these countries. Comparing the current oil price increase with previous ones, such as those resulting from the tightening of oil supply in the 70’s, we find that the trade channel has been more important in the current episode than in previous ones. This can be attributed to (i) the perception of a more permanent increase in the price of oil in the context of rising demand, and (ii) the gradualism of the current oil price increase, which has allowed a stronger response from imports.Oil exporting countries; oil revenues; oil windfall; recycling; trade; imports; exports; reserve accumulation; marginal propensity to import; petrodollars; OPEC; Russia

The effect of foreign service on trade volumes and trade partners

It has been emphasized that international promotion activities such as state visits or the presence of embassies, consulates and export promotion agencies help foster trade when there are search costs and/or uncertainty. In this paper we try to disentangle the differential effect that foreign service (embassies and consulates) has on both the establishment of trade links with countries, and the effect on trade volumes with already existing trading partners (the extensive and intensive margins at the country level). Using the estimation procedure suggested by Helpman, Melitz and Rubinstein (2007) and a cross-section of 21 exporters and 162 importers as in Rose (2005), we find that the presence of a foreign service office in a given country increases the probability of trading with that partner between 11% and 18%, but that it has no effect on the volume of trade with already existing trading partners. We then proceed to evaluate the importance of the extensive margin at the sectoral level, finding that these probabilities are substantially larger for more differentiated sector

Uncertainty and entry into export markets

It has been emphasized that international promotion activities such as state visits or the presence of embassies, consulates and export promotion agencies help foster trade when there are search costs and/or uncertainty. In this paper we try to disentangle the differential effect that foreign service (embassies and consulates) has on both the establishment of trade links with countries, and the effect on trade volumes with already existing trading partners (the extensive and intensive margins at the country level). Using the estimation procedure suggested by Helpman, Melitz and Rubinstein (2007) and a cross-section of 21 exporters and 162 importers as in Rose (2005), we find that the presence of a foreign service office in a given country increases the probability of trading with that partner between 11% and 18%, but that it has no effect on the volume of trade with already existing trading partners. We then proceed to evaluate the importance of the extensive margin at the sectoral level, finding that these probabilities are substantially larger for more differentiated sector

The wise use of dummies in gravity models : export potentials in the Euromed region

In this paper, we estimate a gravity equation properly accounting for omitted exporter and importer’s overall trade resistance, through country yearly dummies for exporter and importer countries. We find that the omission of time varying multilateral trade resistance terms in the estimation of a gravity equation introduces important biases in the results, although correcting them means we can only compute differences between actual and predicted export shares, instead of levels, as usually done. An application to the calculation of trade potentials in the Euromed region (Southern and Eastern Mediterranean countries) shows that the omission of time varying multilateral trade resistance terms greatly influences the computation of export potentials as well as the estimated effect of signing a free trade agreement. Overall, we find that, except for Algeria, Jordan and Lebanon, Euromed countries’ share of exports to the EU as a whole is at, or slightly above, those predicted by a correctly specified gravity model, although the share of exports to some individual EU countries is significantly below the predictions of the gravity model. Except for those three countries, we find significant opportunities for export growth to the US, instea

International recycling of petrodollars

The continued rise in oil prices since 2002 has resulted in a significant increase in export revenue for oil exporting countries. This increase in the price of oil and other commodities means that OPEC countries and Russia have received, between 2003 and 2006, a windfall of 1.3 trillon dollars with respect to their export level in 2002. This paper analyzes, using the limited data avalaible, the recycling of these resources back to the world economy through the trade channel, via higher imports, or the financial channel, via an increase in the net external asset position of these countries. Our results show that around 50 % of the windfall revenue has been used to increase imports, while the rest has been directed towards international reserva accumulation and other improvements in the net asset position of these countries. Comparing the current oil price increase with previous ones, such as those resulting from the tightening of oil supply in the 70's, we find that the trade channel has been more important in the current episode than in previous ones. This can be attributed to (i)the perception of a more permanent increase in the price of oil in the context of rising demand, and (ii)the gradualism of the current oil price increase, wich has allowed a stronger response from imports. [resumen de autor

Cambio climático y diversidad de la flora vascular en las montañas tabulares de Guayana

Una de las posibles consecuencias del calentamiento global es la extinción de especies de alta montaña por migración ascendente de las condiciones ambientales y pérdida de hábitat, fenómeno que, por el momento, ha sido considerado únicamente en montañas templadas y boreales. Este trabajo analiza la misma situación en montañas tropicales y estima el grado de amenaza de la flora vascular de las cimas de las montañas neotropicales de Guayana, al norte de Sudamérica. Del estudio basado en una muestra de 83 especies, entre aproximadamente el 8 y el 33% de las mismas se encuentran en peligro de extinguirse debido a la desaparición de su hábitat. La mayoría de estas especies son endémicas de Guayana, por lo que su desaparición afectaría a la biodiversidad global.Among the potential consequences of the projected global warming on high-mountain environments is biodiversity loss by upward migration of environmental conditions and the consequent habitat vanishing for upland species. So far, such effect has been considered only for temperate and boreal mountain ranges. Here, the same situation is analysed on the neotropical Guayana mountains, in northern South America. A preliminary appraisal based on 83 species of vascular plants shows that 8-33% of them are threatened of extinction by habitat loss. Most are endemic, hence their disappearance would affect global biodiversity

Control físicament realista d'un robot bíped virtual

Aquest projecte té la intenció de dissenyar i implementar un programa que permeti a l'usuari realitzar animacions a partir punts intermitjos d'un moviment i calcular-ne el moviment complet