GMM Estimation of the Number of Latent Factors

We propose a generalized method of moment (GMM) estimator of the number of latent factors in linear factor models. The method is appropriate for panels a large (small) number of cross-section observations and a small (large) number of time-series observations. It is robust to heteroskedasticity and time series autocorrelation of the idiosyncratic components. All necessary procedures are similar to three stage least squares, so they are computationally easy to use. In addition, the method can be used to determine what observable variables are correlated with the latent factors without estimating them. Our Monte Carlo experiments show that the proposed estimator has good finite-sample properties. As an application of the method, we estimate the number of factors in the US stock market. Our results indicate that the US stock returns are explained by three factors. One of the three latent factors is not captured by the factors proposed by Chen Roll and Ross 1986 and Fama and French 1996.Factor models; GMM; number of factors; asset pricing

Induced brain activity as indicator of cognitive processes: experimental-methodical analyses and algorithms for online-applications

Die Signalverarbeitung von elektroenzephalographischen (EEG) Signalen ist ein entscheidendes Werkzeug, um die kognitiven Prozessen verstehen zu können. Beispielweise wird induzierte Hirnaktivität in mehreren Untersuchungen mit kognitiver Leistung assoziiert. Deshalb ist die Gewinnung von elektrophysiologischen Parametern grundlegend für die Charakterisierung von kognitiven Prozessen sowie von kognitiven Dysfunktionen in neurologischen Erkrankungen. Besonders bei Epilepsie treten häufig Störungen wie Gedächtnis-, oder Aufmerksamkeitsprobleme auf, zusätzlich zu Anfällen. Neurofeedback (bzw. EEG-Biofeedback) ist eine Therapiemethode, die zusätzlich zu medikamentösen- und chirurgischen Therapien bei der Behandlung vieler neurologischer Krankheiten, einschließlich Epilepsie, erfolgreich praktiziert wird. Neurofeedback wird jedoch meist dafür angewendet, eine Anfallsreduzierung zu erzielen. Dagegen wird eine Verbesserung kognitiver Fähigkeiten auf der Basis elektrophysiologischer Änderungen selten vorgesehen. Darüber hinaus sind die aktuellen Neurofeedbackstrategien für diesen Zweck ungeeignet. Der Grund dafür sind unter anderem nicht adäquate Verfahren für die Gewinnung und Quantifizierung induzierter Hirnaktivität. Unter Berücksichtigung der oben genannten Punkten wurden die kognitiven Leistungen von einer Patientengruppe (Epilepsie) und einer Probandengruppe anhand der ereignisbezogenen De-/Synchronisation (ERD/ERS) Methode untersucht. Signifikante Unterschiede wurden im Theta bzw. Alpha Band festgestellt. Diese Ergebnisse unterstützen die Verwertung von auf ERD/ERS basierten kognitiven Parametern bei Epilepsie. Anhand einer methodischen Untersuchung von dynamischen Eigenschaften wurde ein onlinefähiger ERD/ERS Algorithmus für zukünftige Neurofeedback Applikationen ausgewählt. Basierend auf dem ausgewählten Parameter wurde eine Methodik für die online Gewinnung und Quantifizierung von kognitionsbezogener induzierter Hirnaktivität entwickelt. Die dazugehörigen Prozeduren sind in Module organisiert, um die Prozessapplikabilität zu erhöhen. Mehrere Bestandteile der Methodik, einschließlich der Rolle von Elektrodenmontagen sowie die Eliminierung bzw. Reduktion der evozierten Aktivität, wurden anhand kognitiver Aufgaben evaluiert und optimiert. Die Entwicklung einer geeigneten Neurofeedback Strategie sowie die Bestätigung der psychophysiologischen Hypothese anhand einer Pilotstudie sollen Gegenstand der zukünftigen Arbeitschritte sein.Processing of electroencephalographic (EEG) signals is a key step towards understanding cognitive brain processes. Particularly, there is growing evidence that the analysis of induced brain oscillations is a powerful tool to analyze cognitive performance. Thus, the extraction of electrophysiological features characterizing not only cognitive processes but also cognitive dysfunctions by neurological diseases is fundamental. Especially in the case of epilepsy, cognitive dysfunctions such as memory or attentional problems are often present additionally to seizures. Neurofeedback (or EEG-biofeedback) is a psychological technique that, as a supplement to medication and surgical therapies, has been demonstrated to provide further improvement in many neurological diseases, including epilepsy. However, most efforts of neurofeedback have traditionally been dedicated to the reduction of seizure frequency, and little attention has been paid for improving cognitive deficits by means of specific electrophysiological changes. Furthermore, current neurofeedback approaches are not suitable for these purposes because the parameters used do not take into consideration the relationship between memory performance and event-induced brain activity. Considering all these aspects, the cognitive performance of a group of epilepsy patients and a group of healthy controls was analyzed based on the event-related de /synchronization (ERD/ERS) method. Significant differences between both populations in the theta and upper alpha bands were observed. These findings support the possible exploitation of cognitive quantitative parameters in epilepsy based on ERD/ERS. An algorithm for the online ERD/ERS calculation was selected for future neurofeedback applications, as the result of a comparative dynamic study. Subsequently, a methodology for the online extraction and quantification of cognitive-induced brain activity was developed based on the selected algorithm. The procedure is functionally organized in blocks of algorithms in order to increase applicability. Several aspects, including the role of electrode montages and the reduction or minimization of the evoked activity, were examined based on cognitive studies as part of the optimization process. Future steps should include the design of a special training paradigm as well as a pilot study for confirming the theoretical approach proposed in this work

Qubit authentication

Secure communication requires message authentication. In this paper we address the problem of how to authenticate quantum information sent through a quantum channel between two communicating parties with the minimum amount of resources. Specifically, our objective is to determine whether one elementary quantum message (a qubit) can be authenticated with a key of minimum length. We show that, unlike the case of classical-message quantum authentication, this is not possible.Comment: LaTeX, 8 page

Trichogramma (Hymenoptera: Trichogrammatidae) Species, Egg Parasitoids of Diatraea saccharalis (Lepidoptera: Crambidae) on Sugarcane (Poales: Poaceae) in Argentina

The aim of this study was to identify egg parasitoids of Diatrea saccharalis F., sensu Guenée (Lepidoptera: Crambidae) in sugarcane in Tucumán, Argentina. We report a new host-parasitoid association of Trichogramma atopovirilia Oatman & Platner (Hymenoptera: Trichogrammatidae) attacking D. saccharalis and the first record of Trichogramma galloi Zucchi from Argentina. Additionally, Trichogramma pretiosum Riley was recorded in this survey.Fil: Isas, Marcos Gerardo. Gobierno de Tucumán. Ministerio de Desarrollo Productivo. Estación Experimental Agroindustrial Obispo Colombres; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucuman. Instituto de Tecnología Agroindustrial del Noroeste Argentino; ArgentinaFil: Luft Albarracin, Erica Beatriz. Gobierno de Tucumán. Ministerio de Desarrollo Productivo. Estación Experimental Agroindustrial Obispo Colombres; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucuman. Planta Piloto de Procesos Industriales Microbiologicos; ArgentinaFil: Perez, Maria Lucia del Pilar. Gobierno de Tucumán. Ministerio de Desarrollo Productivo. Estación Experimental Agroindustrial Obispo Colombres; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucuman. Instituto de Tecnología Agroindustrial del Noroeste Argentino; ArgentinaFil: Salvatore, Analía. Gobierno de Tucumán. Ministerio de Desarrollo Productivo. Estación Experimental Agroindustrial Obispo Colombres; Argentin

Spillover Effects of Quota or Parity Laws: The Case of Ecuador Women Mayors

Do quota or parity laws designed to improve the representation of women in plurinominal elections have a spillover effect to uninominal elections? We empirically test this theory by analyzing the effects of quota and parity legislations implemented in Ecuador for plurinominal elections on the proportion of women elected as mayors. Through an unpublished database, our results show that after the implementation of such legislation, the probability of a woman being elected as mayor almost doubles (ceteris paribus). We also find evidence that a possible causal chain for the documented spillover effects is the increasing importance of female role models, motivated by institutional changes shaped by the new legislation

Impacts of Crop Residue on Damage by Sugarcane Pests during the Tillering Phase in Argentina

One of the most important recent changes in sugarcane cultural practices in Tucumán, Argentina, is the adoption of the practice of green-cane harvesting, which involves harvesting the sugarcane crop in the absence of burning. The objective of this study was to assess the impact of the post-harvest crop residue (also sometimes known as "trash blanket") on Elasmopalpus lignosellus (Zeller) (Lepidoptera: Pyralidae) and Pseudaletia unipuncta Haworth (Lepidoptera: Noctuidae) population dynamics in sugarcane. The study was conducted in ratoon crops for 3 growing seasons (2011, 2012, and 2013) and at 3 locations in the state of Tucumán, Argentina. The treatments consisted of rows with the crop residue burned and the crop residue retained. Removal of the crop residue by burning, compared with retention, resulted in significantly greater crop damage by E. lignosellus in all locations and years. In contrast, damage by P. unipuncta was observed exclusively on plots where crop residue was retained. Comparing the pest status of 2 insects, E. lignosellus seems to be more consistently deleterious to sugarcane yield than P. unipuncta, and chemical control of this species is not very effective. Therefore, leaving the crop residue in place seems to be the most appropriate crop management approach, although it is important also to monitor P. unipuncta populations in order to implement control should it be necessary.Fil: Isas, Marcos Gerardo. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucuman. Instituto de Tecnología Agroindustrial del Noroeste Argentino; ArgentinaFil: Perez, Maria Lucia del Pilar. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Tucuman. Instituto de Tecnología Agroindustrial del Noroeste Argentino; ArgentinaFil: Salvatore, Analia. Gobierno de Tucumán. Ministerio de Desarrollo Productivo. Estación Experimental Agroindustrial Obispo Colombres; ArgentinaFil: Gastaminza, Gerardo. Gobierno de Tucumán. Ministerio de Desarrollo Productivo. Estación Experimental Agroindustrial Obispo Colombres; ArgentinaFil: Willink, Eduardo. Gobierno de Tucumán. Ministerio de Desarrollo Productivo. Estación Experimental Agroindustrial Obispo Colombres; ArgentinaFil: White, William. United States Department of Agriculture. Agriculture Research Service; Estados Unido

Assessing the economic effects of the European landing obligation on the Spanish fishery in the Celtic Sea

European Union has agreed to implement the landing obligation for all species subject to quota in order to ensure long term harvest in a healthy marine environment, implying a prohibition on discarding species subject to quota that can legally be caught and landed under Community fisheries legislation. Landing obligation has been progressively implemented since 2014 and entered fully into force in January 2019. This work analyses the potential economic effects of the landing obligation on the Spanish fleet fishing in the Celtic Sea. The profitability of the fleet is evaluated in the years preceding the entry into force of the European regulation and compared with the profitability obtained since its implementation. The results show a significant economic impact of the landing obligation on small and micro-enterprises. The first years of partial application of the regulations coincide with a drop in diesel prices that helps smaller companies maintain a high profitability. However, once diesel prices recover, the profitability of micro-enterprises falls to negative values when the application of the discards ban is complete, leading to the closure of many companies. This scenario of effort reduction and control of overexploitation of the fishing grounds, positive from an environmental point of view, nevertheless suggests the need for some kind of institutional support to mitigate the socio-economic damage generated by the landing obligation and to improve the gear selectivity of the fleets concerned, allowing them to adapt to the new management scenario.Xunta de Galicia | Ref. ED431C2018/48Xunta de Galicia | Ref. ED431E2018/07Xunta de Galicia | Ref. ED481B2018/095Agencia Estatal de Investigación | Ref. RTI2018–099225-B-10

Ofiuroideos del Cretácico Inferior de Patagonia: primer registro fósil articulado para el Mesozoico de América del Sur

The first articulated remains of ophiuroids for the Mesozoic of South America are described from the Lower Cretaceous of Neuquén Basin, Argentina. The taxonomic analysis allows the assignment of the material described herein to the extinct genus Ophiopetra. The specimens belong to a new species, but considering the poor preservation, a new name is not introduced, as it would be based on an incomplete diagnosis. Certain characteristics (e.g., the diameter of the disc, the width/height ratio of the vertebrae) suggest that these ophiuroids are paedomorphic specimens. In light of the latest classification of the Ophiuroidea, and new insights on the spine articulation microstructure of Ophiopetra lithographica presented herein, a transfer of Ophiopetra to the family Ophionereididae within the order Amphilepidida is proposed. This material expands the palaeogeographic record of this genus, since it represents the first remains of Ophiopetra described in the Southern Hemisphere. It is also the first Cretaceous record of the genus worldwide.Fil: Fernández, Diana Elizabeth. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Ciudad Universitaria. Instituto de Estudios Andinos "Don Pablo Groeber". Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Instituto de Estudios Andinos "Don Pablo Groeber"; Argentina. Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Departamento de Ciencias Geológicas; ArgentinaFil: Giachetti, Luciana María. Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Departamento de Ciencias Geológicas; ArgentinaFil: Stöhr, Sabine. Swedish Museum of Natural History; SueciaFil: Thuy, Ben. Natural History Museum Luxembourg; LuxemburgoFil: Perez, Damián. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Parque Centenario. Museo Argentino de Ciencias Naturales “Bernardino Rivadavia”; ArgentinaFil: Comerio, Marcos. Provincia de Buenos Aires. Gobernación. Comisión de Investigaciones Científicas. Centro de Tecnología de Recursos Minerales y Cerámica. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Tecnología de Recursos Minerales y Cerámica; ArgentinaFil: Pazos, Pablo Jose. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Ciudad Universitaria. Instituto de Estudios Andinos "Don Pablo Groeber". Universidad de Buenos Aires. Facultad de Ciencias Exactas y Naturales. Instituto de Estudios Andinos "Don Pablo Groeber"; Argentin

Effects of forming route and heat treatment on the distortion behaviour of case-hardened martensitic steel type S156

The distortion behaviour of carburised and fully heat treated Ni-Cr-Mo martensitic steel (S156) has been experimentally evaluated. Dimensional measurements of Navy c-ring distortion coupons during interrupted heat treatment process for parts manufactured from two forming routes, hot forging and machined from as received bar, was performed. Metallurgical analysis was carried out to attempt to relate the observed microstructural characteristics with measured process induced distortion. The carburisation process was found to be the most severe in terms of inducing distortion. It was found that additional heat treatments during the process results in a larger final distortion. Machining parts from forgings results in higher distortions than that of those machined directly from as received bar due to the added thermal processing history. An FE simulation of the carburisation process for a c-ring coupon is presented

Analysis of innovative incremental cold forming process for the manufacturing of aerospace rotating parts

Cold rotary forging is an innovative incremental metal forming process whose main characteristic is that the workpiece is only partially in contact with a conical tool, reducing therefore the required forging loads. However, in spite of many benefits of such a process, wide industrial implementation of rotary forging is not possible without proper understanding of material behaviour. In the present work, the capability of rotary forging process was explored for the manufacturing of flared cylindrical parts by cold forming. Another main aim was to assess the cold formability of high-strength materials for aerospace applications (martensitic stainless steels) under incremental processes. In order to understand the impact of rotary forging on the final properties of formed components, microstructural and mechanical analysis were performed. Microstructural and hardness analysis were conducted on both axial and transverse sections along the cold formed flange in order to study the grain flow orientation and strain distribution. In a similar fashion, mechanical test specimens were machined from different positions and orientations along the rotary forged component. Further analysis was performed on the components in the as-treated condition in order to understand the response of cold-worked Jethete M152 components to subsequent heat treatments. Microstructural and hardness analysis clearly reveals a strong grain reorientation and strain localization around “pickup” defects (material attached to the upper tool) observed on the flange top surface, close to the flange edge. These results suggest that an excessive deformation is localized during the early stages of the flange formation. Another characteristic feature found in the rotary forged parts is the presence of a buckling phenomenon which appears in later stages of the rotary forging process. Strain hardening along with the increasing flange length requires higher levels of forging loads to keep forming the flange. This results into a significant accumulation of compressive stresses in the transition region between the flange and the straight region. Gradually the resultant compressive force exceeds the critical buckling load, leading to the occurrence of the buckling phenomenon. This latter issue determines the limit of the cold flaring process. This can help to determine the maximum length of the flange part, achievable in this process, which is of great importance for the design of these manufacturing technologies. From the mechanical testing results, large differences were found as a function of both position and orientation (axial, transverse) throughout the rotary forged components (anisotropic properties). Concerning the impact of heat treatments on cold-worked components, no differences were found in the as-treated condition, in terms of microstructural and mechanical properties between regions with a large difference in strain distribution. These results denote the normalizing effect of conventional hardening treatments on cold-worked Jethete M152 components, restoring the homogenous and isotropic properties across the whole componen