Infrared (IR) Sensors applied to Fire detection and to people’s safety

The IR Imaging and Remote Sensing Laboratory – LIR-UC3M of Universidad Carlos III, has developed IR multi and hyper spectral analysis techniques for passive (no emitters) and reliable (low false alarm rate) threat sensing. Specifically, they are based on sensors development and spectral processing for classifying the scene to optimize the discrimination of threats from backgrounds, decoys or other spurious emitting sources, for a dramatic decrease of false alarm rate

Multi and Hyper-spectral passive Infrared (IR) Sensors for reliable detection of threats

The IR Imaging and Remote Sensing Laboratory – LIR-UC3M of Universidad Carlos III, has developed IR multi and hyper spectral analysis techniques for passive (no emitters) and reliable (low false alarm rate) threat sensing. Specifically, they are based on sensors development and spectral processing for classifying the scene to optimize the discrimination of threats from backgrounds, decoys or other spurious emitting sources, for a dramatic decrease of false alarm rate

Time-trend in spatial dependence: Specification strategy in the first-order spatial autoregressive model

The purpose of this article is to analyze if spatial dependence is a synchronic effect in the first-order spatial autoregressive model, SAR(1). Spatial dependence can be not only contemporary but also time-lagged in many socio-economic phenomena. In this paper, we use three Moran-based space-time autocorrelation statistics to evaluate the simultaneity of this spatial effect. A simulation study shed some light upon these issues, demonstrating the capacity of these tests to identify the structure (only instant, only time-lagged or both instant and time-lagged) of spatial dependence in most cases.Space-time dependence; Spatial autoregressive models; Moran’s I

Credit bubble and stagnation in Colombia, 1990-2001

This paper explores the dynamics of the credit-crunch affecting Colombia during the second half of the 1990s. Its main objectives are to present statistical evidence regarding the phenomenon in question, to ascertain rhythms deriving from it ans some working hypotheses shedding some light on determinants of Colombian credit behaviour.The study distinguishes between exogenous and endogenous factors explaining this behavior. External capital flows play a key role in the former as their size and direction highly influence internal credit conditions and economic activity. However, changes in this flows are chanelled through a domestic financial system that amplifies their negative effect on the economy, thus playing a procedural-cyclical role.credit markets

"Early Warning Indicators for Latin America"

We explore the performance of a set of early warning indicators for a group of Latin American economies under the endogenous cycle perspective. For this group of countries, the paper confirms the results of work on industrialized countries that a combination of asset prices and credit provides valuable information of probable future financial crises. However, we go a step further in the analysis of emerging economies and find that a combination of capital flows from abroad and credit is an even superior leading indicator of such events.Financial (in) stability, early warning indicators, financial accelerator. Classification JEL: E30, E52, F30, F41.

Can fundamentals explain cross-country correlations of asset returns?.

Previous studies show that existing correlations between national returns are higher than correlations between the national growth rates of fundamental variables. This paper examines the ability of intertemporal asset pricing models to explain cross-country correlations of national returns. We find that when capital markets are assumed to be fully integrated, a simple intertemporal general equilibrium model is able to explain the observed co-variability of domestic asset returns but generates too little variability in those returns. Results improve considerably if a less restrictive version is employed. In that setting, both domestic variability and cross-country co-variability of returns are consistent with capital market integration.Asset pricing models; Cross-country correlations;