Destabilising conventions using temporary interventions

Conventions are an important concept in multi-agent systems as they allow increased coordination amongst agents and hence a more efficient system. Encouraging and directing convention emergence has been the focus of much research, particularly through the use of fixed strategy agents. In this paper we apply temporary interventions using fixed strategy agents to destabilise an established convention by (i) replacing it with another convention of our choosing, and (ii) allowing it to destabilise in such a way that no other convention explicitly replaces it. We show that these interventions are effective and investigate the minimum level of intervention needed

Deposit Insurance in Theory and Practice

Bank stability and systemic stability are old issues in banking. There have been many financial crises in economic history, and the painful consequences of those crises have again and again raised questions concerning how to avoid them and how to protect depositors against losses.

Human Resources for Health Migration: global policy responses, initiatives, and emerging issues

This report identifies and maps contemporary global policy responses to, and initiatives on, international HRH migration, with particular reference to low‐income source countries. It reports on a systematic review and analysis of the responses and initiatives of twelve multilateral organisations and global fora: European Union; Global Forum on Migration and Development; Global Health Workforce Alliance; International Labour Organization; International Organization for Migration; Organisation for Economic Cooperation and Development; Pan‐American Health Organization; UN Global Migration Group; UN High‐Level Dialogue on Migration and Development; World Bank; World Health Organization; and the World Trade Organization. The report documents how these global policy actors are presently engaging with the HRH migration field through their activities, initiatives and policy responses. It situates this engagement within global policy initiatives spanning health, migration and development. In addition to reviewing and mapping current initiatives and policy responses and their outcomes, the report identifies emerging issues, upcoming promising initiatives and global policy scenarios

Defining Terrorism: A Risky Business?

The Criminal Justice (Terrorist Offences) Act 2005 introduced definitions of terrorist activity, terrorist group and terrorist offences for the first time. These definitions, enacted subsequent to the Good Friday Agreement (1998), were examined to ascertain whether perspectives of crime control or risk influenced their formulation. Evidence of control perspectives were elicited within the definitions but themes of risk or actuarial justice were not found. The policy analysis established that the definitions which emerged through process of coerced policy convergence emanating from the Council of the European Union with Irish legislators having limited influence

Inflation persistence in structural macroeconomic models (RG10)

This paper analyses the response of inflation in the euro area to five macroeconomic shocks through the use of results derived from Eurosystem large-scale macroeconomic models. The main finding is that only a fiscal shock, and to a lesser extent a TFP shock, generate marked inflation persistence. In contrast, an indirect tax and an oil price shock appear much less persistent and a social security shock generates less inflation persistence in the majority of the countries (although some weak persistence was observed at the euro area level). The paper also considers evidence on the sources of persistence, which indicates that it is crucially affected by the responsiveness of wages to employment, by the sluggishness in the adjustments of the demand components, and by the speed of adjustment of employment to output and wage changes. JEL Classification: C53, E31, E52impulse response function, Inflation persistence, large-scale macroeconomic models

Global Commodity Chains and LINKSCH

No abstract available

Doing Away with the Sovereign : Neoliberalism and the Promotion of Market Discipline in European Economic Governance

This article proposes a critical reading of market discipline and its limitations as a mechanism in European economic governance. Consistent with neoliberal beliefs about market-based governance, the Economic and Monetary Union (EMU) is premised on the functioning of the government bond market as a fiscal-policy discipliner. However, the operation of market discipline requires that neither governments nor their private creditors can rely on an authority to bail them out. It, therefore, precludes the kinds of intervention by Eurozone’s supranational institutions witnessed during the euro crisis. In the post-crisis context, efforts to strengthen market discipline continue to be frustrated by the growing reliance of financial institutions on government bond markets as well as the European Central Bank’s (ECB) active participation in those markets. Having undermined the credibility of the market as an autonomous and apolitical mechanism of discipline, European economic governance struggles to come to terms with the rise of a supranational ‘economic sovereign’ in the Eurozone.Peer reviewe

Convention emergence in partially observable topologies

In multi-agent systems it is often desirable for agents to adhere to standards of behaviour that minimise clashes and wasting of (limited) resources. In situations where it is not possible or desirable to dictate these standards globally or via centralised control, convention emergence offers a lightweight and rapid alternative. Placing fixed strategy agents within a population has been shown to facilitate faster convention emergence with some degree of control. Placing these fixed strategy agents at topologically influential locations (such as high-degree nodes) increases their effectiveness. However, finding such influential locations often assumes that the whole network is visible or that it is feasible to inspect the whole network in a computationally practical time, a fact not guaranteed in many real-world scenarios. We present an algorithm, PO-Place, that finds influential nodes given a finite number of network observations. We show that PO-Place finds sets of nodes with similar reach and influence to the set of high-degree nodes and we then compare the performance of PO-Place to degree placement for convention emergence in several real-world topologies