University of Alicante

About: University of Alicante is a education organization based out in Alicante, Spain. It is known for research contribution in the topics: Catalysis & Population. The organization has 8681 authors who have published 22690 publications receiving 476064 citations. The organization is also known as: Universitat d'Alacant & Universidad de Alicante.

Short-term wholesale funding and systemic risk: A global CoVaR approach.

Abstract: We use the CoVaR approach to identify the main factors behind systemic risk in a set of large international banks. We find that short-term wholesale funding is a key determinant in triggering systemic risk episodes. In contrast, we find weaker evidence that either size or leverage contributes to systemic risk within the class of large international banks. We also show that asymmetries based on the sign of bank returns play an important role in capturing the sensitivity of system-wide risk to individual bank returns. Since short-term wholesale funding emerges as the most relevant systemic factor, our results support the Basel Committee’s proposal to introduce a net stable funding ratio, penalizing excessive exposure to liquidity risk.

Microorganisms and Microbially Induced Fabrics in Cave Walls

Abstract: Host-rock, speleothems, and rock art paintings from Altamira and Tito Bustillo Caves (northern Spain) are coated by dense biofilms of phototrophic microorganisms (cyanobacteria and algae) and networks of heterotrophic bacteria (mainly actinomycetes). These microorganisms induce constructive (calcification, crystalline precipitates) and destructive fabrics (irregular etching, spiky calcite). To assess the microbial impact on both caves - which contain valuable rock art paintings - mineralogical, petrographical, hydrochemical, microenvironmental, and microbiological studies were carried out. The identified damage includes: (1) covering (scattered colored spots, whitish powdery patinas)of paintings by the microbial communities themselves and/or by their metabolic activity (including biofilms and 'bioinduced' precipitates); (2) chemical alteration, such as microbially mediated dissolution; and (3) mechanical alteration, such as substratum breakdown and scaling. In addition, some types of speleothems, such as ...