bluuebunny/crossref_metadata_2025 huggingface dataset:
CERUPT and ERUPT Contracts
Authors: Weerd Daniel van der
Published: October 2023

This chapter describes how the Netherlands purchases carbon credits through Emission Reduction Unit Procurement Tenders (ERUPT) and Certified Emission Reduction Unit Procurement Tenders (CERUPT) and the contractual issues that arise. To provide a better understanding of why issues are addressed in a certain way, section 2 will start with an explanation of the background of the Netherlands‘ involvement in the carbon market and will set out the regulatory framework in which ERUPT and CERUPT contracts are located. Section 3 will describe how ERUPT and CERUPT contracts address the main obligations of the Project Company, such as delivery and reporting, and non-performance. Section 4 will set forth some conclusions.
Emissions Trading Schemes in Australia
Authors: Carmody josh , Willis Monique
Published: October 2023

Australia is a country rich in natural resources with one of the fastest growing economies amongst the members of the OECD.1 Its relatively small national population of 20 million people, combined with the high emissions intensity of many Australian export commodities (such as coal, steel, and aluminium) and the country‘s reliance on coal fired electricity generation to supply most of its energy needs, has provided Australia with the legacy of one of the highest emissions pro-files, on a per capita basis, of any nation in the world.
Summary and Outlook
Authors: Freestone David , Streck Charlotte
Published: October 2023

A number of key themes shine through the contributions to this collection. The first and overarching theme is origi,nality and innovation--which arises from the very novelty of the regime created by the Kyoto Protocol. Not only does this origin-ality extend to the mechanisms of the COM, JI, and International Emissions Trading but to the respective roles of international institutions, governments, non-governmental organizations, and the private sector.
Personnel Economics in Imperfect Labour Markets
Authors: Garibaldi Pietro
Published: October 2023

Personnel economics, the use of economics for studying human resource issues, is becoming a standard course in business and economics departments around the world. Indeed, after being successfully introduced in North American business schools, the teaching of personnel economics is now growing in Europe and in the rest of the world. Yet, most of the traditional analysis of personnel economics assumes a perfectly competitive labour market, a situation in which wages are fully flexible and dismissals can take place at no cost. Such a setting is inappropriate for most European markets, where wage rigidity and wage compression are widespread phenomena, and where employment protection legislation is very stringent. Personnel Economics in Imperfect Labour Markets aims to describe key personnel issues when firms and human resource managers act in highly regulated labour markets. Written to be accessible to students, the book provides original answers to questions which have previously been left to specialized academic journals. Should hiring take place under temporary or permanent contracts? How can we provide compensation related incentives when minimum wages are binding? How de we solve the employment/hours trade-off? These questions and more are discussed within the text.
Indigenous Peoples, Postcolonialism, and International Law
Authors: Rodríguez-Piñero Luis
Published: October 2023

Indigenous Peoples, Postcolonialism, and International Law: The ILO Regime (1919-1989) explores the historical process leading to the emergence of indigenous peoples as distinct objects of modern international law, through the activity of the International Labour Organization (ILO). The ILO is the institutional site for the two current legally binding international instruments dealing with indigenous peoples, Convention No. 107 (1957), and Convention No. 169 (1989). Based on careful research on official documentation and unpublished archival evidence, the book enquires into the origins of the ILO's historical interest in the living and working conditions of indigenous peoples, and traces this back to the organization's early concern on the conditions of life of 'native workers' in colonial territories in the inter-war period. The book connects this early concern with the organization's regional policy in the Americas, where the 'Indian problem' became a priority on the organisation's agenda. These historical processes set the ground for the adoption, a few years later, of Convention No. 107 and Recommendation No. 104, instruments that translate the main assumptions of state development policies towards indigenous groups into international law. After an examination of the origins and content of Convention No. 107, the book sheds light on the process that lead the I.L.O. to reshape its old policies into the form of Convention No. 169, the most up to date and important international treaty dealing with the rights of indigenous peoples today.
From Policy to Law: the Making of the ILO Instruments on Indigenous, Tribal, and Semi-tribal Populations (1949–57)
Authors: Rodríguez-Piñero Luis
Published: October 2023

The previous chapters have examined the process of subjectivization of indigenous peoples as distinct objects of international concern within the institutional framework of the International Labour Organisation (ILO). The second part of this book analyses how the historical articulation of the organization’s indigenous policy resulted in the drafting of the first international legal standards on indigenous peoples, the conceptual and normative underpinning of these standards, and the standards’ effect in shaping the nascent international regime on indigenous peoples in modern international law.
The Cointegrated VAR Model: Methodology and Applications
Authors: Juselius Katarina
Published: October 2023

This valuable text provides a comprehensive introduction to VAR modelling and how it can be applied. In particular, the author focuses on the properties of the Cointegrated VAR model and its implications for macroeconomic inference when data are non-stationary. The text provides a number of insights into the links between statistical econometric modelling and economic theory and gives a thorough treatment of identification of the long-run and short-run structure as well as of the common stochastic trends and the impulse response functions, providing in each case illustrations of applicability. This book presents the main ingredients of the Copenhagen School of Time-Series Econometrics in a transparent and coherent framework. The distinguishing feature of this school is that econometric theory and applications have been developed in close cooperation. The guiding principle is that good econometric work should take econometrics, institutions, and economics seriously. The author uses a single data set throughout most of the book to guide the reader through the econometric theory while also revealing the full implications for the underlying economic model. To test ensure full understanding the book concludes with the introduction of two new data sets to combine readers understanding of econometric theory and economic models, with economic reality.
The Distribution of Top Incomes in the United Kingdom 1908–20001
Authors: Atkinson A B
Published: October 2023

In 1909 the United Kingdom Government introduced ‘super-tax ‘, which was an additional income tax levied on top incomes. This event was important not only for its fascal consequences, and the constitutional crisis generated by the initial rejection of the Budget by the House of Lords, but also because it provided information on total incomes that had not previously been available on a regular basis. Under the ordinary progressive income tax, with deduction at source and different schedules covering different sources of income, the authorities did not know the total income of individuals, which could be the subject of several separate assessments.
The Distribution of Top Incomes in Australia1
Authors: Atkinson A B , Leigh A
Published: October 2023

Visiting Australia at the end of the nineteenth century, commentator Francis Adams observed that: ‘In England the average man feels that he is an inferior; in America he feels that he is superior; in Australia he feels that he is an equal ‘ (Adams 1892). Income inequality in Australia a century ago may therefore have been less than in the UK and the US. This chapter takes a long-run perspective of the Australian income distribution, asking what can be learned from the income tax returns, particularly about top incomes. How far has Australia differed from the pattern in other Anglo-Saxon OECD countries, such as the United States and the United Kingdom, where income inequality declined over the first three-quarters of the century, and then increased in the final decades? One major reason for making use of the income taxation statistics is that they do provide a quantitative basis for measuring the trends.
Top Incomes in the Netherlands over the Twentieth Century1
Authors: Salverda W , Atkinson A B
Published: October 2023

As a contrast to the rising income inequality in Anglo-Saxon countries (Chapters 4 to 8), the Netherlands (NL) is of particular interest. After attaining very high levels of unemployment in the early 1980s, it has seen an impressive growth of employment, and its unemployment rate has become closer to that of the US than to the EU average. It is natural to ask how far this change has involved increased inequality in market incomes. The developments of the past two decades have moreover to be seen in the light of the longer run evolution of the personal income distribution in OECD countries. For much of the first three-quarters of the twentieth century the dominant tendency had been for a decline in inequality.
The Right to Flexibility
Authors: Collins Hugh
Published: October 2023

European governments regard greater flexibility in labour markets as a key ingredient to the achievement of greater business competitiveness, full employment, and growing prosperity. Policies favouring flexibility have been central to the European Union’s employment strategy introduced by the Amsterdam Treaty,1 with detailed policy prescriptions initiated at Luxembourg in 1997, then developed at Lisbon in 2000 with the Open Method of Co-ordination,3 and most recently relaunched with reformulated guidelines in 2003. Through the Open Method of Co-ordination for the employment strategy, the European Union sets an agenda and exerts peer pressure on Member States to adopt these policies in national legislation, active manpower expenditures, and social practice.
Gender and Diversification of Labour Forms in Japan
Authors: Asakura Mutsuko
Published: October 2023

The worker image which has been considered the ideal model by labour laws in European countries is the male head of household. These workers have held relatively stable positions, and have worked in forms of labour that make it possible to earn a family wage (a wage high enough to support a family’s livelihood).1 But this worker model, under the Fordist production regime, faced major change in the 1970s. Specifically, forms of labour diversified as never before due to the growth of the tertiary production sector, the new heterogeneity of family structures, women’s entry into the workforce, and the externalization of housework and child raising labour.
A New Gender Contract? Work/Life Balance and Working-Time Flexibility
Authors: Fudge Judy
Published: October 2023

Work/life conflict grew dramatically during the 1990s, fuelled by growing numbers of employed women, dual-earner, and single-parent families, and the increasing proportion of the population who are elderly and in need of care as well as employment restructuring, job insecurity, increased hours of employment, and technologies that blur the boundary between work and family. By the beginning of the twenty-first century, developing and implementing policies designed to help Canadians to achieve a better work/life balance moved to the top of the labour policy agenda. The emergence of work/life balance as a key issue for labour law and policy reveals the breakdown of the post-war ‘gender contract’ for resolving the tension that has always plagued advanced market economies-how to co-ordinate the competing demands of raising children and caring for and maintaining a healthy and cohesive population, on the one hand, and producing the goods and services necessary for a prosperous society, on the other. This gender contract was based upon a male breadwinner and female housewife model in which men worked full-time for a wage
A Woman’s World: What if Care Work were Socialized and Police/Fire Protection Left to Individual Families?
Authors: Fischl Richard Michael
Published: October 2023

A couple of summers ago, I was living in London and teaching a course on comparative labour and employment law to visiting American students. I was also finishing work on the first volume of INTELL essays-Labour Law in an Era of Globalization-and decided to take the ‘nigh completed manuscript for a test run, assigning it as a principal reading for the course. Judging from the quality of the final examinations, the students gained much from the book, and the experience of teaching my way through it benefited the editing process enormously. But my effort to mix scholarship and pedagogy had a difficult start.
The Cross-Border Insolvency Regulations 2006 (and Explanatory Memorandum)
Authors: Fletcher Ian F
Published: October 2023

These Regulations are made in exercise of the powers conferred by section 14 of the Insolvency Act 2000a. In accordance with section 14(6) of that Act, the Lord Chancellor and the Scottish Ministers have agreed to the making of these Regulations. A draft of these Regulations has been laid before Parliament in accordance with section 14(5) of that Act and approved by a resolution of each House of Parliament.
Athanasius Kircher and his Shadow
Authors: Hamilton Alastair
Published: October 2023

Coptic occupied an unusual, not to say unique, position among the various Eastern languages that were discovered, or revived, in the West in the early modern period. The normal pattern emerged with the study of Greek in the late fifteenth century: a native speaker of the language would come to Europe and provide instruction. This is what happened in the case of Ethiopic and Syriac, and the native speakers were priests who had been lured to Rome after the Council of Florence. Where Syriac and Ethiopic are concerned, moreover, the fact that they belonged to a discernible Semitic group and that a number of European theologians had some grounding in Hebrew made their study all the easier.
Liability in Tort for Harm to Reputation, Dignity, Privacy, and ‘ Personality’
Authors: Gordley James
Published: October 2023

There have been major controversies over two questions concerning the scope of the rights which tort law should protect. One-the subject of this chapter-is whether and to what extent the law should protect rights to reputation, dignity, privacy and ‘ personality’. The other, which is the subject of the next, is the extent to which the law should exclude protection for pure economic loss. It will be helpful to begin by considering the protection extended to reputation and dignity, both traditionally and by modem law. We will then tum to a miscellany of other rights often described along with reputation and dignity as rights to ‘ privacy’ or ‘ personality’.
Promises
Authors: Gordley James
Published: October 2023

Although the 19th century will theorists ignored the question of why promises or expressions of will are binding, the question was reopened in the 20th century. The answers that the writers gave centuries ago are of help in resolving it. We will examine this question, and then tum to a modern one which the earlier writers never considered: whether a party could be bound without a promise as a result of what we would call preliminary negotiations. In what has been described as the most important law review article written in the United States, Lon Fuller and William Perdue discussed what they called ‘ expectation damages’, which was the amount necessary to put the promisee in the position in which he would have been had the promisor performed. They claimed that it would be odd to speak of damages for breaking a promise as ‘ compensation for an injury’ because then ‘ we “compensate” the plaintiff by giving him something he never had’. They argued: In passing from compensation for change of position to compensation for loss of expectancy, we pass, to use Aristotle’ s terms... from the realm of corrective justice... The law no longer seeks merely to heal a disturbed status quo but to bring into being a new situation. It ceases to act defensively, restoratively, and assumes a more active role.
The Principle Against Unjustified Enrichment
Authors: Gordley James
Published: October 2023

A celebrated abstraction is the maxim from the Digest that no one should be enriched at another’ s expense. The late scholastics and then the northern natural lawyers thought that this principle could explain the law of unust enrichment. Since the 19th century, German jurists, in particular, have been trying to bring it down to earth. Windscheid and his contemporaries agreed that this principle is too broad, a ‘ false abstraction’, ‘ untrue at this level of generality’.2 3 The truth was suggested by another Roman maxim which said a person was liable for ‘ a thing which he has without a just basis (justa causa)’ D According to Windscheid, a person enriched at another’ s expense ‘ has the duty to justify (herauszugeben) to the disadvantaged party, why he has become richer’.4 That conclusion is expressed by the general principle of § 812(1) of the German Civil Code: one who has received something through another’ s performance or at his expense in some other way without legal basis (ohne rechtlichen Grund) is obligated to give it back’. Yet 20th century German jurists have found that statement too broad as well. In 1934, Walter Wilburg claimed that it was impossible to formulate any general rule as to when enrichment is unjustified. Ernst von Caemmerer agreed. It is not true that an enrichment is unjustified when the person enriched has no contractual or statutory claim to be. A person might lose his rights to another by prescription. Or he might renounce a right which is consequently acquired by someone else.
Introduction to Part I: Ideas in Police Intelligence
Authors: Grieve John GD
Published: October 2023

For a subject that has dominated much of the theoretical rhetoric about policing in the UK since the 1900s (encapsulated in the sound-bite ‘intelligence-led policing’), there has been surprisingly little literature that attempts to collate and collect ideas about the profession of intelligence in policing, Ratcliffe’s edited collection on Strategic Thinking in Criminal Intelligence being a notable exception (Ratcliffe, 2004). The essays gathered here in Part I explore different aspects of ideas and theories in police intelligence work and, in doing so, set the scene for the remainder of the volume. For the practitioner audience a literature review of significant official inquiries and studies of the National Intelligence Model (NIM) will be found elsewhere (Harfield and Harfield, 2008). Here the editors have drawn together thoughts from various perspectives to provide a conceptual context.
Science or Sophistry: Issues in Managing Analysts and their Products
Authors: MacVean Allyson , Harfield Clive
Published: October 2023

The theme underpinning this edited volume is that of consilience, the imaginative and innovative recourse to and utilization of ideas and learning from different disciplines to achieve new insights. It is born out of effectively contemporaneous epidemiology investigation (Johnson, 2006), and philosophical consideration (Whewell, 1847). This chapter, founded upon the concept that consilient thinking is a key attribute in effective analysis, reflects upon aspects of analysis as currently practised within the overall intelligence profession in British policing. It draws upon the personal experience of one of the authors (CH) as police intelligence manager and on the wider considerations brought to bear by an academic specialist on intelligence issues (AM). It sits within a context defined by Cope (2004) and Dunninghan and Norris (1999) and considers first how analysts are perceived and utilized, and then issues concerning the use of analytical product. Not unintentionally, more questions are posed than answered.
An Evaluation of the Role of the Intelligence Analyst Within the National Intelligence Model
Authors: Sissens Jacqueline
Published: October 2023

This chapter presents new research undertaken to establish whether the function of the intelligence analyst in relation to the requirements of the National Intelligence Model (NIM) has been achieved (on the NIM see ACPO, 2005). The overall aim of the research was to evaluate the role of analysts to establish if their function is rhetoric or reality and whether professionalism have been achieved through dedicated and specialized training. The objectives of the research were four-fold: to establish theory with regard to the role of analysis; to evaluate the role of intelligence analysts within UK police forces and other agencies; to determine any differences in theory and reality; and analyse why any disparity between theory and reality occurs.
The Rise of Eccentricity
Authors: Gill Miranda
Published: October 2023

Eccentricity cuts across the boundaries of tragedy and comedy, elite and popular culture, masculinity and femininity. Both contradictory meanings and ambivalent responses were already associated with the concept in eighteenth-century England, the context in which the term ‘eccentric’ was first popularized in its modern sense. The identification of eccentricity with Englishness has proved to be so entrenched that the emergence of early nineteenth-century French perceptions of oddity from English tropes and models must be charted.
Etiquette and the Public Gaze
Authors: Gill Miranda
Published: October 2023

In Parisian bourgeois society, eccentricity of appearance or behaviour was synonymous with the phrase se faire remarquer (‘standing out’, ‘being noticed’, ‘drawing attention to oneself ‘). It therefore raised central questions about the relationship of the individual to public opinion and the public gaze, which functioned as a form of social control. Since eccentricity was often identified with individual self-assertion, it attracted censure in a culture in which emphasis on the self occasioned suspicion in everyday life and was vigorously attacked in social and political thought.
Madness and Medicine
Authors: Gill Miranda
Published: October 2023

French beliefs about the relationship between eccentricity and madness evolved considerably between 1830 and the fin de siècle. The notion that eccentricity might constitute a form of borderline madness was first explored during the July Monarchy, where it was linked to the fashionable new doctrine of monomania. After 1848 there was a significant evolution in attitudes towards borderline insanity or ‘demi-folie’, as French alienists concluded that madness was far more prevalent than had hitherto been assumed. Eccentric individuals appeared emblematic of an insidious form of pathology undermining society, and were pursued by alienists seeking both to expand their professional role and to counteract fears of social dissolution and national degeneration.
Where To From Here?
Authors: Hoekman Bernard M , Kostecki Michel M
Published: October 2023

The GATT was created by governments with a clear vision of the cooperation that was needed to foster economic growth and reconstruction after the Second World War. Although the vision called for an ITO, the GATT managed to fulfil the objectives of the original signatories quite well. It proved a very successful instrument to liberalize trade. High-income country tariffs were reduced very substantially under its auspices. As a result, trade-distorting aspects of domestic policies increasingly became the focus of attention. To return to Professor Robert Baldwin’s analogy, trade liberalization can be likened to the draining of a swamp: as the water level (average tariff levels) falls due to successful pumping efforts, rocks, stumps and all manner of other obstacles (NTBs) become visible (Baldwin, 1970). The GATT 1947 did much to drain the swamp for industrialized countries. It was much less successful in inducing developing countries to reduce tariffs—unilateral actions by governments many of such economies in the 1980s and 1990s also did much to drain the swamp there. The GATT was also less successful in clearing the drained land (eliminating NTBs) and keeping the water from flooding back (in the form of contingent protection and VERs).
Dispute Settlement And Enforcement Of Rules
Authors: Hoekman Bernard M , Kostecki Michel M
Published: October 2023

In contrast to most international organizations that rely on diplomatic means to resolve conflicts, WTO dispute settlement (DS) procedures are elaborate and legally binding. This chapter first briefly presents a number of conceptual considerations that help to understand the role and nature of the WTO dispute settlement system. We then describe the major features of the system and discuss its operation to date as reflected in the case load between 1995 and 2007. The chapter concludes with a discussion of systemic questions and proposals that have been made to make the system more effective, both in the context of a review of the DS system by WTO members themselves and by the academic community, practitioners, NGOs and the business community.
Sector-Specific Multilateral Trade Agreements
Authors: Hoekman Bernard M , Kostecki Michel M
Published: October 2023

The GATT was conceived as a general agreement that would apply to all merchandise trade. In principle, therefore, GATT rules on nondiscrimination, transparency, tariff bindings and so forth, apply to all sectors. In practice, however, industry-specific pressures for protection in major trading nations created strong incentives for governments to grant ‘special’ treatment to ‘special’ sectors. This chapter focuses on two key sectors where pressures for protection proved too strong for the trading system to handle—agriculture, and textiles and clothing. Over time these sectors were gradually removed from the reach of many GATT 1947 disciplines. It was only during the Uruguay Round that it proved possible to reintegrate them into the trading system. However, progress on agriculture since then proved very difficult to achieve.
Trade In Services
Authors: Hoekman Bernard M , Kostecki Michel M
Published: October 2023

Services—which include activities as disparate as transport of goods and people, financial intermediation, communications, distribution, hotels and restaurants, education, healthcare, construction and accounting—are vital to the functioning of any economy. Even in the lowest income countries, services generate at least 40 per cent of GDP. Services account for 70 per cent or more of economic activity in high-income countries. Common explanations for the rise in the share of services in output and employment as countries become richer include increasing specialization and exchange of services through the market (‘outsourcing’), with an associated increase in variety and quality that may raise productivity of firms and welfare of final consumers, in turn increasing demand for purchased services and the fact that the scope for (labour) productivity improvements in the provision of many services is less than in agriculture and manufacturing. The latter implies that over time the (real) costs of these services will rise relative to merchandise, as will their share of employment (Baumol, 1967; Fuchs, 1968).
Clarissa’s Painter
Authors: Shepherd Lynn
Published: October 2023

Samuel Richardson's novels have always been a particularly fertile seam for literary study, and in recent years they have been the subject of a whole range of different approaches, from the political and feminist, to those concerned with formal questions such as genre and epistolary technique. Richardson has also attracted considerable interest from an interdisciplinary perspective, with studies focusing on the pictorial and spatial elements of his works, and the illustrations he commissioned for Pamela. This extensively-illustrated monograph takes this approach one step further, and looks at issues of visual and verbal representation in Richardson from the perspective of eighteenth-century portraiture. Richardson first became conversant with the conventions of contemporary portraiture in the wake of the phenomenal success of Pamela. It was then that he commissioned his first portrait, and became involved in the process of producing illustrations for the lavish sixth edition of the novel. This study makes the case that these two events combined to give Richardson a new vocabulary for the depiction of individual character, and the articulation of power, affection, and control within the family, and between men and women. We can see the first signs of this in Pamela II, which is so often dismissed and so little read, but it reaches its full maturity in the rich three-dimensionality of Clarissa. Moreover it is Richardson's use of the conventions of contemporary portraiture in Sir Charles Grandison that explains many of the tensions and inconsistencies within that text, and makes the reader's response to Richardson's 'good man' so ambivalent.
Eighteenth-Century Portraiture
Authors: Shepherd Lynn
Published: October 2023

In December 1751 Sophia Westcomb wrote to her long-standing friend and correspondent Samuel Richardson, describing an evening she had just enjoyed with his ‘admirable and worthy Nieces’: I had not only the satisfaction of having my Dear Papa, and his works, made choice of as the most pleasing subject for our conversation, but had likewise the additional one of beholding yr Person; yes sure it was your very self; for I think no coppy could ever be so like, however Mr Leake made me observe that it did not actually breathe, and was also enclosd in a frame with a Glass before it; the underwritten Lines are no less a Picture of yr Mind. I have seen one of these Prints at Mrs Jodrells, and earnestly wished for one, but was at a loss for the means. I found you would not give it unaskd and my modesty hindered me from that.
Richardson’s First Portrait
Authors: Shepherd Lynn
Published: October 2023

There are five extant and authentic portraits of Samuel Richardson, all painted, as far as we can tell, between the early 1740s and the mid-1750s.1 The period spanned by the paintings thus correlates almost exactly with Richardson’s career as a novelist, which begins with Pamela in 1740 and ends with the final volumes of Grandison in 1754. And the fact that the portraits were all painted in the middle decades of the eighteenth century means that the production of these images coincides with a new and unprecedented level of debate about the function and meaning of portraiture. Thus at the time when Richardson was commissioning his own paintings, it was possible for the first time for such images to participate in two very different visual discourses and draw resonance from them both: from formal public portraiture on the one hand, to intimate private likenesses on the other. In fact Richardson’s five portraits mark an extraordinarily precise trajectory between these two extremes, from Highmore’s ‘feigned oval’ half-length now in the National Portrait Gallery, which may have been intended to hang in a literary ‘gallery of worthies’, to the small full-length portrait the same artist painted for Richardson’s friend Lady Bradshaigh, which includes within it an image of its intended spectator.2 The latter is one example of the portrait as private ‘relic’; another, equally intense, is the first of the five, Hayman’s conversation piece of the novelist and his family, now in Tate Britain (Figure 2.1).
Introduction
Authors: Manning Mark , Nier Erlend , Schanz Jochen
Published: October 2023

We’d always thought that if you wanted to cripple the US economy, you ‘d take out the payment systems. Banks would be forced to fall back on inefficient physical transfers of money. Businesses would resort to barter and IOUs; the level of economic activity across the country could drop like a rock. Alan Greenspan, Chairman of the Board of Governors of the US Federal Reserve System, 1987–2006. Today’s complex web of market infrastructures – payment, clearing and settlement systems is a response to frictions that arise when goods and financial securities are traded.
Managing systemic risk in the clearance and settlement of foreign-exchange, securities and derivatives transactions
Authors: Manning Mark , Nier Erlend , Schanz Jochen
Published: October 2023

This chapter discusses specific risks arising in the clearance and settlement of foreign exchange, securities and derivatives transactions and the ar- rangements that have been developed to manage these risks. The risks considered are, respectively, foreign-exchange settlement risk; principal risk in securities settlement; and pre-settlement replacement cost risk. Foreign-exchange settlement risk – often referred to as ‘Herstatt risk’, after a famous case in which such a risk crystallized – arises when the settlement of the two currency legs of a foreign-exchange transaction are not simultaneous.
Other sources of systemic risk: operational and business risk
Authors: Manning Mark , Nier Erlend , Schanz Jochen
Published: October 2023

While the literature has tended to focus primarily on credit and liquidity risk in payment and settlement processes, it is clear that other sources of systemic risk namely, operational and business risks in system providers – might also be important. Costs arising from crystallization of these risks can be particularly high if the provision of infrastructure is concentrated and rerouting of payments to a substitute system is not possible in the event of a failure. But costs can also be high if member-level responses affect activity and risk exposures in dependent markets; or if outages occur during stressed or high-volume periods, exacerbating nervousness in markets and triggering further uncertainty. This chapter focuses initially on the effects of operational shocks and how their impact might be contained.
Market Power, Market Dominance, And Effective Competition— Economic And Legal Aspects
Authors: Schwalbe Ulrich , Zimmer Daniel
Published: October 2023

The Lerner index as a measure of market power has a sound foundation in economic theory and can in principle be applied to all market forms. It shows that the market power of a firm, or group of firms, is restricted by the substitution possibilities available to consumers on the demand side and the behaviour of actual or potential competitors on the supply side of the market. Both demand-side and supply-side substitution limit a firm’s market power. Further, the Lerner index makes it possible to distinguish various degrees of market power. For instance, it can be determined whether and how a firm’s market power will change in response to a merger, for example, or whether a firm has more or less market power than another.1 It is important to note that the Lerner index as a measure of market power is based on a long-run view, in which all costs are variable, ie there are no fixed costs. In the short run, however, a price may exceed marginal cost because of the need to cover fixed costs.
Other Factors Relevant To The Assessment Of Mergers
Authors: Schwalbe Ulrich , Zimmer Daniel
Published: October 2023

Some of the aspects relevant to the assessment of merger effects, such as buyer power, potential competition, and barriers to entry, have already been discussed in the section on factors affecting market power (Part 2 5.II.6.b). Other factors which may play an important role in an assessment of the impact of a merger as mergers in two-sided markets, the merger with a particular dynamic or potential competitor, catch-up and rescue mergers as well as efficiency gains are addressed below.
Conclusion
Authors: Schwalbe Ulrich , Zimmer Daniel
Published: October 2023

Partly as a result of the considerable progress made in the field of economic theory, the calls for a more (or rather: modern) economic approach in competition law have been growing in recent years. According to the advocates of such an approach, merger law and its application in practice should, wherever possible, be based on established notions of economic theory. They argue that, otherwise, there is a risk that decisions will be untenable from an economic point of view.
Removal of nafcillin from aqueous solution with green synthesis iron oxide nanoparticles
Authors: Öter Çiğdem
Published: October 2023

In this study, iron oxide nanoparticles were synthesized from Solanum nigrum L. extract and used to remove nafcillin, which exhibits toxic properties in aqueous solutions. To understand the adsorption behavior of naphcillin on the nanoadsorbent, the optimum conditions, kinetics and isotherm of adsorption were studied in detail. It was found that the adsorption process was consistent with the pseudo-second order kinetic model and Langmuir’s isothermal model. The FeONPs adsorbent achieved an adsorption capacity of 116.3 mg/g for nafcillin. It was also found that FeONPs retained ~90% of its adsorption capacity after five adsorption-desorption cycles. Apart from the fact that the nanoparticles synthesized in the study are composed of natural ingredients, S. nigrum L. which causes problems in plant cultivation, serves a useful purpose by being used in this method. The results show that this new nanoadsorbent provides an alternative option for the removal of pharmaceuticals and various pollutants in wastewater.
Cornea Classic: Bron, Evans, and Smith, “Grading of Corneal and Conjunctival Staining in the Context of Other Dry Eye Tests” (2003)
Authors: Akpek Esen K.
Published: October 2023

Dry eye is an increasingly common ocular condition with significant impact on quality of life due to eye discomfort and blurred vision complaints. In addition, the financial burden of dry eye on both patients and society is substantial. Although there has been a recent explosion of research in the field since 2002 with the approval of the first prescription topical treatment (Restasis, Allergan Inc, Irvine CA), dry eye lags behind other ophthalmic conditions where clinically meaningful outcome measures are closely tied with the metrics by which their therapeutics are evaluated. Unfortunately, current practice is such that physicians largely rely on patient symptoms to evaluate dry eye, and these do not always correlate with objective ocular surface and tear film parameters. In patients with severe dry eye, the patient-reported symptoms are likely dampened because of the neurotrophic state of the ocular surface, which accompanies any long-standing inflammatory ocular condition. Therefore, staining of the corneal and conjunctival surface using vital dyes is an invaluable dry eye test to provide information normally not visible during routine slit-lamp examination. The landmark article by Bron, Evans, and Smith published in Cornea in 2003 provides excellent guidance to clinicians to highlight and quantify ocular surface parameters in patients with dry eye. Validation studies correlating conjunctival or corneal staining with tangible quality-of-life parameters and metrics to measure those are needed to verify ocular surface staining as a clinically meaningful dry eye outcome to be used in clinical practice and clinical trials.
Whole-genome sequencing and phylogenetic analysis of coxsackievirus-A16 strains causing hand, foot and mouth disease (HFMD) in India
Authors: Tikute Sanjaykumar , Sonawane Sanket , Shete Anita , Kumar Abhinendra , Yadav Savita , Yadav Pragya D. , Lavania Mallika
Published: October 2023

Hand, foot and mouth disease (HFMD) is a common childhood infectious disease, caused by enteroviruses (EVs), which can present with typical or atypical lesions. The illness is self-limiting, but it can also have serious complications. Since 1997, HFMD infections have become endemic and have increased to epidemic proportions across the Asia Pacific region, including India. Coxsackievirus-A16 (CV-A16) outbreaks occurred in India from 2005 onwards, although the clinical symptoms were noticeably different during this period. Understanding the population dynamics of enteroviruses that cause HFMD is crucial in the post-polio era because one of the circulating strain may replace another as the dominant strain. The aim of this study is to describe the genetic features of the CV-A16 strains isolated from hand, foot and mouth disease (HFMD) patients in India. Reverse transcription PCR (RT-PCR) and cell-culture-based isolation of CV-A16 was done from the 55 clinical samples. The entire genome of the CV-A16 isolate was performed from the seven isolates. After the sequences were analysed, a phylogenetic tree was created using bioinformatics tools. The total genomic length obtained was 7411 base pairs (bp). Nucleotide similarity across various regions, including 5′UTR, P1, P2 and 3′UTR, ranged from 87.0–97.9 %, 77.0–95.4 %, 80.3–96.9 %, and 77.9–96.2 %, respectively. Correspondingly, similarities in the VP1 region’s nucleotide and amino acid sequences were 91.4–96.4 % and 99.3–99.7 %, respectively. Phylogenetic analysis highlighted that CV-A16 strains identified in Pune, Maharashtra, were grouped within the same cluster. The analysed CV-A16 isolates in this study aligned with subgenotype B1c. These findings have far-reaching implications for the surveillance, prevention and management of HFMD and CV-A16. Monitoring the dynamics of CV-A16 strains, informed by the genetic characteristics identified here, will significantly impact strategies aimed at tackling HFMD and its associated public health challenges.
Eosinophils are an endogenous source of IL-4 during filarial infections and contribute to the development of an optimal T helper 2 response
Authors: Guth Cécile , Schumacher Pia Philippa , Vijayakumar Archena , Borgmann Hannah , Balles Helene , Koschel Marianne , Risch Frederic , Lenz Benjamin , Hoerauf Achim , Hübner Marc P. , Ajendra Jesuthas
Published: October 2023

Interleukin-4 (IL-4) is a central regulator of type 2 immunity, crucial for the defense against multicellular parasites like helminths. This study focuses on its roles and cellular sources duringLitomosoides sigmodontisinfection, a model for human filarial infections. Our research uncovers eosinophils as a major source of IL-4, especially during the early phase of filarial infection. Using dblGATA mice lacking eosinophil and subsequently eosinophil-derived IL-4, we reveal their profound impact on the Th2 response. Lack of eosinophils impact Th2 polarization and resulted in impaired type 2 cytokine production. Surprisingly, eosinophil deficiency had no impact on macrophage polarization and proliferation as well as on antibody production. These findings shed new light on IL-4 dynamics and eosinophil effector functions in filarial infections.

AUTHOR SUMMARY

Filarial nematodes can cause severe diseases like onchocerciasis and lymphatic filariasis, posing a significant public health challenge in tropical regions, putting over a billion people at risk. The WHO categorizes these infections as neglected tropical diseases and aims to eliminate onchocerciasis transmission and lymphatic filariasis as a public health issue by 2030. To achieve this goal, we need a better understanding of the protective immune responses involved. Eosinophils have been identified as a key immune cell type in the well-established murine model for filarial infection,Litomosoides sigmodontis. However, their precise roles and interactions with other components of the type 2 immune response remain unclear. Our study reveals that eosinophils play a crucial role as a primary source of interleukin-4, the central cytokine in type 2 immunity. By using dblGATA mice, we found that the absence of eosinophils resulted in a reduced T helper 2 response but did not impact the alternative activation of macrophages or antibody production. In summary, our research uncovers an underappreciated function of eosinophils and their significant influence on type 2 immune responses.
Structural insight into rabies virus neutralization revealed by an engineered antibody scaffold
Authors: Kedari Ashwini , Iheozor-Ejiofor Rommel , Levanov Lev , Saksela Kalle , Vapalahti Olli , Rissanen Ilona
Published: October 2023

Host-cell entry of the highly pathogenic rabies virus (RABV) is mediated by trimeric glycoprotein (G) spikes, which also represent the primary target for the humoral immune response. RABV-G displays several antigenic sites targeted by neutralizing antibodies, including monoclonal antibodies (mAbs) which have been proposed as quality-controlled alternatives to traditional polyclonal rabies immunoglobulin treatment. In this study, we determine the epitope of a potently neutralizing human anti-rabies mAb, CR57, which we engineered into a diabody to facilitate crystallization. We report the crystal structure of the CR57 diabody alone at 2.38 Å resolution, and in complex with RABV-G domain III at 3.15 Å resolution. CR57 is demonstrated to bind RABV through a predominantly hydrophobic interface, with essential interactions targeting a conserved six-residue peptide sequence ’KLCGVL’ on the RABV-G. Further, our structural analysis suggests that CR57 sterically hinders receptor recognition and the fusogenic transitions of the spike protein that are required for host-cell entry. Altogether, this investigation provides a structural perspective on rabies inhibition by a potent antibody and delineates a functionally significant region in the spike. This understanding could pave the way for the development of prophylactic antibodies and other therapeutic strategies.

Author summary

Rabies virus (RABV) and many other lyssaviruses possess the ability to invade the central nervous system, leading to fatal encephalitis in mammals. Initiation of the infectious cycle depends on host cell recognition and entry, which is mediated by viral surface glycoprotein (G) spikes and can be inhibited by spike-targeting neutralizing antibodies. In our study, we elucidated the crystal structure of an antigenic domain from RABV-G in complex with a diabody derived from the potently neutralizing antibody CR57. This investigation revealed the molecular interactions by which CR57 binds to RABV-G and outlined a site of vulnerability comprising a conserved peptide in RABV-G domain III, where antibody binding is likely to inhibit RABV by obstructing host cell entry. Insights into the binding modalities of antibodies like CR57 deepen our understanding of how RABV and other lyssaviruses are neutralized, aiding the development of potential therapeutics. Furthermore, our study showcases the utility of engineering antibodies into diabodies to obtain crystal structures of antibody-antigen complexes.