Sovereign debt and its restructuring framework in the Euro area. Bruegel Working Paper 2013/05, August 2013

To compensate for the inflexibility of fixed exchange rates, the euro area needs flexibility through a system of orderly debt restructuring. With virtually no room for macroeconomic manoeuvring since the crisis onset, fiscal austerity has been the main instrument for achieving reductions in public debt levels; but because austerity also weakens growth, public debt ratios have barely budged. Austerity has also implied continued high private debt ratios. And these debt burdens have perpetuated economic stasis. Economic theory,history, and the recent experience all call for a principled debt restructuring mechanism as an integral element of the euro area’s design. Sovereign debt should be recognised as equity (a residual claim on the sovereign), operationalised by the automatic lowering of the debt burden upon the breach of contractually-specified thresholds. Making debt more equity-like is also the way forward for speedy private deleveraging. This debt-equity swap principle is a needed shock absorber for the future but will also serve as the principle to deal with the overhang of ‘legacy’ debt

The Bellagio Global Dialogues on Intellectual Property

Reviews Rockefeller's conference series on intellectual property and its efforts to promote policies and institutional capacities that better serve the poor, with a focus on food security and public health. Discusses global policy, development, and trade

'Ibadan - a model of historical facts': militarism and civic culture in a Yoruba city

The article focuses on an historical relationship between the political institution of chieftaincy and civic pride in Ibadan, a Yoruba city in south-western Nigeria. It examines this relationship against the scholarly model of ‘Yoruba urbanism’ and argues that this model is empirically and conceptually flawed. Drawing on oral and documentary historical sources, the article explores how a ‘civic Ibadan’ was made through practices of settlement, civil disorder and external warfare during the pre-colonial period. The analysis adds to recent debates about the concept of ‘historical materialism’ in the urban past

KNOWLEDGE SOCIETY AND TRANSITION ECONOMIES.THE BULGARIAN CHALLENGE

This paper evaluates the Bulgarian positioning in the European knowledge-based economy. The analysis is mainly based on the Knowledge Assessment Methodology of the World Bank (2005). After an analytical framework, the analysis reveals an alarming situation for Bulgaria resulting from several negative factors, which reinforce one another in a cumulative process. Finally, the conclusion underlines that a necessary condition for the Bulgarian economy to become knowledge-based, is to set up good rules of governance but also to be able to mobilize human capital and to coordinate the interactions within citizens and organizations.knowledge economy, knowledge triangle, Central and East European countries

Drgania typu galopowania interferencyjnego dwóch walców o przekroju kołowym o tej samej średnicy.

The paper deals with numerical analyses of interference galloping of two elasticcaly supported circular cylinders of equal diameters. The basis of the analyses is a quasi-steady model of this phenomenon. The model assumes that both cylinders participate in the process of interference galloping and they have two degrees of freedom. The movement of the cylinders is described as a set of four nonlinear differential equations. On the basis of numerical solutions of these equations the author evaluate the correctness of this quasi-steady model. Then they estimate the dependence of a critical reduced velocity on the Scruton number, turbulence intensity and arrangements of the cylinders.W pracy przedstawiono numeryczną analizę galopowania interferencyjnego dwóch sztywnych walców kołowych o równych średnicach ze sprężystym podparciem końców. Podstawą analizy jest model quasi-ustalony tego zjawiska, opracowany w odniesieniu do kołowych przekrojów sekcyjnych walców. Model zakłada, że w procesie galopowania interferncyjnego drgają oba walce, które mają możliwość ruchu w dwóch wzajemnie prostopadłych kierunkach każdy czyli każdy z walców ma dwa stopnie swobody. Ruch walców jest opisany układem czterech nieliniowych różniczkowych równań. Na podstawie numerycznego rozwiązania tych równań, potwierdzono poprawność modelu quasi-ustalonego galopowania interfernycjnego przez porównanie wyników obliczeń z badaniami, których wyniki są dostępne w literaturze. Następnie, także na podstawie numerycznych analiz, przedstawiono zależności pomiędzy zredukowaną prędkością krytyczną, przy której mogą wystąpić drgania, od liczby Scrutona, intensywności turbulencji i wzajemnego usytuowania walców

Phylogenetic framework for coevolutionary studies: A compass for exploring jungles of tangled trees

Phylogenetics is used to detect past evolutionary events, from how species originated to how their ecological interactions with other species arose, which can mirror cophylogenetic patterns. Cophylogenetic reconstructions uncover past ecological relationships between taxa through inferred coevolutionary events on trees, for example, codivergence, duplication, host-switching, and loss. These events can be detected by cophylogenetic analyses based on nodes and the length and branching pattern of the phylogenetic trees of symbiotic associations, for example, host-parasite. In the past 2 decades, algorithms have been developed for cophylogetenic analyses and implemented in different software, for example, statistical congruence index and event-based methods. Based on the combination of these approaches, it is possible to integrate temporal information into cophylogenetical inference, such as estimates of lineage divergence times between 2 taxa, for example, hosts and parasites. Additionally, the advances in phylogenetic biogeography applying methods based on parametric process models and combined Bayesian approaches, can be useful for interpreting coevolutionary histories in a scenario of biogeographical area connectivity through time. This article briefly reviews the basics of parasitology and provides an overview of software packages in cophylogenetic methods. Thus, the objective here is to present a phylogenetic framework for coevolutionary studies, with special emphasis on groups of parasitic organisms. Researchers wishing to undertake phylogeny-based coevolutionary studies can use this review as a "compass" when "walking" through jungles of tangled phylogenetic trees.Facultad de Ciencias Naturales y Muse

Phylogenetic framework for coevolutionary studies: A compass for exploring jungles of tangled trees

Phylogenetics is used to detect past evolutionary events, from how species originated to how their ecological interactions with other species arose, which can mirror cophylogenetic patterns. Cophylogenetic reconstructions uncover past ecological relationships between taxa through inferred coevolutionary events on trees, for example, codivergence, duplication, host-switching, and loss. These events can be detected by cophylogenetic analyses based on nodes and the length and branching pattern of the phylogenetic trees of symbiotic associations, for example, host-parasite. In the past 2 decades, algorithms have been developed for cophylogetenic analyses and implemented in different software, for example, statistical congruence index and event-based methods. Based on the combination of these approaches, it is possible to integrate temporal information into cophylogenetical inference, such as estimates of lineage divergence times between 2 taxa, for example, hosts and parasites. Additionally, the advances in phylogenetic biogeography applying methods based on parametric process models and combined Bayesian approaches, can be useful for interpreting coevolutionary histories in a scenario of biogeographical area connectivity through time. This article briefly reviews the basics of parasitology and provides an overview of software packages in cophylogenetic methods. Thus, the objective here is to present a phylogenetic framework for coevolutionary studies, with special emphasis on groups of parasitic organisms. Researchers wishing to undertake phylogeny-based coevolutionary studies can use this review as a "compass" when "walking" through jungles of tangled phylogenetic trees.Facultad de Ciencias Naturales y Muse

1961-1962 Graduate School of Arts and Sciences Bulletin

Scanned from the copy held in the Registrar\u27s Office.https://ecommons.udayton.edu/bulletin_grad/1014/thumbnail.jp