Learning CAD at university through summaries of the rules of design intent

The ease with which 3D CAD models may be modified and reused are two key aspects that improve the design-intent variable and that can significantly shorten the development timelines of a product. A set of rules are gathered from various authors that take different 3D modelling strategies into account. These rules are then applied to CAD strategic-knowledge learning methodology and included in 3D CAD modelling exercises for students following the degree in mechanical engineering at the University of Burgos (Spain). The experiment was conducted in two groups with a total of 75 students. The design-intent rules were introduced in the different exercises that the teacher explained in both the theoretical and the practical classes. In addition, a summary of the different design rules in each of the practical exercises was explained in the practical classes in only one of the groups. The experimental results, reported in this paper, tested the influence of these summaries on overall improvements in 3D modelling and on the design-intent variable, which is subdivided into four sections: skeleton, structures, alterations and constraints. The use of the summaries of the design intent rules led to statistically significant improvements in 3D modelling in the experimental group, in comparison with the group of students to whom those summaries were not explained.     

Economic modelling of costs associated with outcomes reported for type 2 diabetes mellitus (T2DM) patients in the CANVAS and EMPA-REG cardiovascular outcomes trials

Aims: To model direct medical costs associated with reductions in cardiovascular disease (CVD) events in T2DM patients reported in the CANVAS and EMPA-REG trials, which assessed the cardiovascular safety of canagliflozin and empagliflozin, respectively.

Materials and methods: Costs were modeled from a US managed care organization (MCO) perspective for the CVD outcomes included in both trials: three-point major adverse cardiovascular event (MACE) and its components (cardiovascular-related death, nonfatal myocardial infarction, nonfatal stroke), as well as heart failure requiring hospitalization. The rate of CVD events averted (difference between study drug and placebo) was projected to the portion of an MCO T2DM population matching the respective trial’s inclusion criteria. A targeted literature search for paid amounts directly associated with each CVD event provided the unit costs, which were applied to the projected number of events averted, to calculate costs avoided per member per year (PMPY). One-way sensitivity analyses were performed on events averted, unit costs, and percentages of trial-applicable patients.

Results: Based on three-point MACE events averted, costs avoided PMPY of $6.17 (range: $1.27–$10.94) for CANVAS and $2.75 ($0.19–$4.83) for EMPA-REG were estimated. Costs avoided for individual components of MACE ranged from $0.77 to $3.84 PMPY for CANVAS and from -$0.97 (additional costs) to $1.54 for EMPA-REG. PMPY costs avoided for heart failure were $2.72 for CANVAS and $1.32 for EMPA-REG.

Limitations and conclusions: Models assumed independent, non-recurrent outcomes and were restricted to medical costs directly associated with the trial-reported events. The reductions in CVD events in T2DM patients reported for both CANVAS and EMPA-REG project to a positive cost avoidance for these events in an MCO population. The analysis did not include an assessment of the impact on total cost, as the costs associated with adverse events, drug utilization or other clinical outcomes were not examined.     

Bank market power and the intensity of borrower discouragement: analysis of SMEs across developed and developing European countries

Small Business Economics - This paper analyzes the effect of bank market power on the financial constraints of small and medium-sized enterprises (SMEs) through the study of borrower...     

HOW DO RATING AGENCIES’ DECISIONS IMPACT STOCK MARKETS? A META‐ANALYSIS

The purpose of this study is to examine how credit rating agencies’ decisions impact the stock market using a systematic and quantitative review of existing empirical studies. Specifically, we employ a meta‐regression analysis (MRA) to investigate the extent and nature of the effect of rating agencies’ decisions on the stock market. We survey 62 studies published between 1978 and 2015. Our first finding is that the cumulative average abnormal returns calculated from this empirical literature are affected by publication bias. After controlling for publication bias, the main findings of our meta‐analysis indicate that negative rating decisions cause statistically significant negative abnormal returns. This evidence suggests an informational effect. Our results also indicate that positive rating decisions do not have a significant effect. Finally, the MRA results reveal the importance of several factors related to primary study design, as well as to the nature of the data.     

La curva de Beveridge y los determinantes del emparejamiento en el mercado de trabajo

Se exploran los determinantes a corto plazo del emparejamiento entre oferta y demanda de trabajo identificando los desplazamientos de la curva de Beveridge en doce países de la OCDE entre el primer trimestre de 2000 y el cuarto trimestre de 2013. Mediante tres metodologías complementarias (examen visual, técnicas de cointegración y estimaciones no lineales), observamos que el crecimiento de la población activa, la legislación de protección del empleo y las políticas activas de mercado de trabajo (incentivos a la creación de empresas, programas de trabajo compartido) favorecen el emparejamiento, mientras que los niveles de instrucción intermedios, el desempleo de larga duración y las políticas pasivas (prestaciones por desempleo, fiscalidad del trabajo) lo dificultan.     

Identity Building Through Mediation by African Tailors

In contemporary African cities, dressing well and wearing exclusive garments has become crucial for people in search of identity, distinction and individuality. The research presented in this article, situated at disciplinary intersections of cultural studies, fashion practices and sustainability, provides a case study of African tailors conducted in Maputo and Lisbon, with a special focus on identity building of African immigrants in Portugal. However, the role of tailors in this acculturation process has been ignored in the consumption approach to creative cities. This study is therefore also a reaction to the mainly Western world of regular couture, and to ‘creative city materials’ that focus on consumption. Instead, we emphasize the importance of African tailors who de facto shape urban experiences—visually incrementing practices—that are fundamental to the comprehension of sartorial culture, while we also allude to the complex intersections between local and global markets. In the first part of this article we describe a semi-ethnographic study among tailors in Maputo and Lisbon. The second part presents a participatory action approach that entailed developing an educational programme for African tailors where culture and creativity meet. This programme empowered tailors to tap into their cultural knowledge on tailoring and their awareness of community identity. In our study we argue that the idea of creative cities and their creative economy should be approached from a cultural perspective, by building awareness of the importance of local creative classes instead of focusing on importing those classes.     

How to measure competition in an economy in transition

This paper attempts to find a robust method of measuring competition when firms' operational activities are subject to frictions. The first part theoretically tests the indicative quality of two competition measures, the price‐cost margin (PCM) and the profit elasticity, in a model of monopolistic competition. The second part studies the empirical performance of the indices for a panel of Ukrainian manufacturing firms. This study offers a new approach to measuring profit elasticity that relies on structural estimation of a production function. The estimation methodology retrieves a productivity index that is adjusted to imperfect competition. The proposed method of measuring profit elasticity is found to be robust to frictions, but the PCM and traditional profit elasticity are biased, especially when the intensity of competition is low. Empirical findings show that competition exhibits a significantly positive correlation with aggregate productivity performance, while its impact on firm productivity is nonlinear.