Search results for " ExPEC"

Contractivity results in ordered spaces. Applications to relative operator bounds and projections with norm one

2016

This paper provides various “contractivity” results for linear operators of the form I−C where C are positive contractions on real ordered Banach spaces X. If A generates a positive contraction semigroup in Lebesgue spaces Lp(μ), we show (M. Pierre's result) that A(λ−A)−1 is a “contraction on the positive cone”, i.e. A(λ−A)−1x≤x for all x∈L+p(μ)(λ>0), provided that p⩾2.  We show also that this result is not true for 1 ⩽ p<2. We give an extension of M. Pierre's result to general ordered Banach spaces X under a suitable uniform monotony assumption on the duality map on the positive cone X+. We deduce from this result that, in such spaces, I−C is a contraction on X+ for any positive projection…

A rational expectations model for simulation and policy evaluation of the Spanish economy

2010

This paper presents the model used for simulation purposes within the Spanish Ministry of Economic Affairs and Finance. REMS (a Rational Expectations Model for the Spanish economy) is a small open economy dynamic general equilibrium model in the vein of the New-Neoclassical-Keynesian synthesis models, with a strongly micro-founded system of equations. In the long run REMS behaves in accordance with the neoclassical growth model. In the short run, it incorporates nominal, real and financial frictions. Real frictions include adjustment costs in consumption (via habits in consumption and rule-of-thumb households) and investment into physical capital. Due to financial frictions, there is no per…

Global injury morbidity and mortality from 1990 to 2017 : results from the Global Burden of Disease Study 2017

2020

Publisher's version (útgefin grein)

Comparison of multidrug-resistant extraintestinal pathogenic Escherichia coli from human, foods and animals to investigate the possible chains of tra…

Background Globally, antimicrobial drug resistant Escherichia coli is the most common etiological agent of invasive disease in humans. In Europe, increasing proportions of infections due to third generation cephalosporins (3GCs) and/or fluoroquinolone resistant extraintestinal pathogenic E. coli (ExPEC) strains are reported. It has been shown that multidrug resistant (MDR) E. coli can be transmitted from animals to humans and based on existing evidence, poultry is the food animal source most closely linked to human E. coli. However, lack of reliable data makes it difficult to assess the attributable risk of different food sources and their impact on human health. Objectives In the present s…

Human Capital Inequality, Life Expectancy and Economic Growth

2006

This article presents a model in which inequality affects per capita income when individuals decide to invest in education taking into account their life expectancy, which depends to a large extent on the human capital of their parents. Our results show the existence of multiple steady states depending on the initial distribution of education. The low steady state is a poverty trap in which children raised in poor families have low life expectancy and work as non-educated workers. The empirical evidence suggests that the life expectancy mechanism explains a major part of the relationship between inequality and human capital accumulation. Increases in life expectancy and human capital accumu…

Gender Gaps in Wages and Mortality Rates During Industrialization: The Case of Alcoy, Spain, 1860–1914

2021

What role did women play during industrialization? Interpretations of this key period of our history have been largely based on analyses of male work. In this paper, we offer evidence of the effects of women's involvement in the industrialization process that took place in Alcoy, Spain, over the period 1860-1914. Using data drawn from historical sources, we analyse labour-force participation rates and wage series for women and men in the textile industry and three other sectors of activity (education, health and low-skill services). We then connect the gender pay gaps with life expectancy indicators. Our results suggest that women's contribution to household income might have favoured the f…

The effects of recent Spanish pension reforms on sustainability and pension adequacy

2017

ABSTRACTThe Spanish pension system has been recently reformed as a response to the demographic challenge and with the objective of ensuring the sustainability of the pension system in the long-term. The overall reforms include changes in the majority of the system parameters, a new indexation rule and a sustainability factor that links life expectancy and the first pension amount. The aim of this work is to analyse how these reforms affect two important features of a pension system: fiscal sustainability and adequacy. For this purpose, the real internal rate of return (IRR) of the lifetime contributions and benefits and the prospective gross theoretical replacement rate (TRR), both before a…

European Natural Gas Seasonal Effects on Futures Hedging

2015

Abstract This paper is the first to discuss the design of futures hedging strategies in European natural gas markets (NBP, TTF and Zeebrugge). A common feature of energy prices is that conditional mean and volatility are driven by seasonal trends due to weather, demand, and storage level seasonalities. This paper follows and extends the Ederington and Salas (2008) framework and considers seasonalities in mean and volatility when minimum variance hedge ratios are computed. Our results show that hedging effectiveness is much higher when the seasonal pattern in spot price changes is approximated with lagged values of the basis (futures price minus spot price). This fact remains true for short …

Educational intentions, cognitive skills and earnings expectations of French undergraduates

2014

International audience; This article aims to study the earnings expectations of first-year students at a French university. Our findings highlight the importance of the environment in which students make their choices about education. Expected earnings are proportionally higher when their parents seem to be involved in the careers guidance, taking into account the effect of parental socio-economic status. The positive opinion of parents about the orientation or the connection between the discipline and the father's occupation are generally associated with higher earnings. In addition, our results show a strong impact of cognitive variables which are far more significant than variables relat…

No linealidad y asimetría en el proceso generador del Índice Ibex35

2013

This paper analyzes the behavior of Ibex35 from January 1999 to December 2001, in order to check if it follows a different process from random walk so its return is not a white noise and it can be predictable, against the efficient market hypothesis. For that, a nonlinear generating process of return will be considered and a STAR-APARCH model will be specified. This model allows a nonlinear behavior in the conditional mean and in the conditional variance. The empirical results show that the Ibex35 follows a nonlinear and asymmetric process, both in the conditional mean as in the conditional variance, so the weak-version of efficient market hypothesis is rejected. El trabajo analiza el compo…