The Greek Debt Crisis: Likely Causes, Mechanics and Outcomes

We use insights from the literature on currency crises to offer an analytical treatment of the crisis in the market for Greek government bonds. We argue that the crisis itself and its escalating nature are very likely to be the result of: (a) steady deterioration of Greek macroeconomic fundamentals over 2001-2009 to levels inconsistent with long-term EMU participation; and (b) a double shift in markets’ expectations, from a regime of credible commitment to future EMU participation under an implicit EMU/German guarantee of Greek fiscal liabilities, to a regime of non-credible EMU commitment without fiscal guarantees, respectively occurring in November 2009 and February/March 2010. We argue that the risk of contagion to other periphery EMU countries is significant; and that without extensive structural reforms the sustainability of the EMU is in question.currency crises, bonds market, expectations, fiscal guarantees, contagion

Weakening UK food law enforcement: a risky tactic in Brexit

The UK Food Standards Agency (FSA) is beginning to roll out a far-reaching programme of regulatory change called Regulating Our Future (ROF). This Briefing Paper argues that ROF risks: - Making the UK’s food supply less safe by further weakening systems that are already too weak; - Undermining the ability of UK food producers to export to the EU after Brexit; - Creating irreconcilable conflicts of interests, because rather than having public officials inspect food businesses, the food businesses will be able to choose who ‘marks their homework’. Professors Erik Millstone (University of Sussex) and Tim Lang (City, University of London) provide a detailed and powerful critique of the Food Standards Agency’s proposals. They conclude that ROF represents a fundamental and detrimental shift in the role, approach and public responsibilities of the FSA and the local authority officers who are the bedrock of food safety in the UK. They also show why these unwelcome proposals are especially unwise in the context of negotiations over Brexit, when the public needs a strong, vigilant and effective FSA. The authors call for ROF to be halted pending further review by a special Parliamentary Joint Select Committee of the Health and Environment, Food & Rural Affairs Committees

Gender (in)equality, globalization and governance

This document is part of a digital collection provided by the Martin P. Catherwood Library, ILR School, Cornell University, pertaining to the effects of globalization on the workplace worldwide. Special emphasis is placed on labor rights, working conditions, labor market changes, and union organizing.ILO_Gender_in_equalityGlobalizationandGovernance.pdf: 768 downloads, before Oct. 1, 2020

Fatalism, Social Support and Mental Health in Four Former Soviet Cultures

Research on social support has identified differences in levels of support between cultures, but has provided only a limited explanation of the role of values or beliefs in accounting for such variations. In this paper we examine the relationship between fatalism and perceived support amongst 2672 respondents in four former Soviet States (Russia, Georgia, Ukraine and Belorussia), with participants drawn from groups of manual workers, managers, civil servants, students and the retired in these four countries. We also examine the consequences of such social support for mental health across these nations. Findings indicate a small but significant moderator effect for fatalism on the relationship between social support and mental health. These results are discussed in the context of the continuing economic and social challenges facing the citizens of these nations

Instantaneous Decentralized Poker

We present efficient protocols for amortized secure multiparty computation with penalties and secure cash distribution, of which poker is a prime example. Our protocols have an initial phase where the parties interact with a cryptocurrency network, that then enables them to interact only among themselves over the course of playing many poker games in which money changes hands. The high efficiency of our protocols is achieved by harnessing the power of stateful contracts. Compared to the limited expressive power of Bitcoin scripts, stateful contracts enable richer forms of interaction between standard secure computation and a cryptocurrency. We formalize the stateful contract model and the security notions that our protocols accomplish, and provide proofs using the simulation paradigm. Moreover, we provide a reference implementation in Ethereum/Solidity for the stateful contracts that our protocols are based on. We also adopt our off-chain cash distribution protocols to the special case of stateful duplex micropayment channels, which are of independent interest. In comparison to Bitcoin based payment channels, our duplex channel implementation is more efficient and has additional features

When is giving an impulse? An ERP investigation of intuitive prosocial behavior

Human prosociality is often assumed to emerge from exerting reflective control over initial, selfish impulses. However, recent findings suggest that prosocial actions can also stem from processes that are fast, automatic and intuitive. Here, we attempt to clarify when prosocial behavior may be intuitive by examining prosociality as a form of reward seeking. Using event-related potentials (ERPs), we explored whether a neural signature that rapidly encodes the motivational salience of an event\u2014the P300\u2014can predict intuitive prosocial motivation. Participants allocated varying amounts of money between themselves and charities they initially labelled as high- or low-empathy targets under conditions that promoted intuitive or reflective decision making. Consistent with our predictions, P300 amplitude over centroparietal regions was greater when giving involved high-empathy targets than low-empathy targets, but only when deciding under intuitive conditions. Reflective conditions, alternatively, elicited an earlier frontocentral positivity related to response inhibition, regardless of target. Our findings suggest that during prosocial decision making, larger P300 amplitude could (i) signal intuitive prosocial motivation and (ii) predict subsequent engagement in prosocial behavior. This work offers novel insight into when prosociality may be driven by intuitive processes and the roots of such behaviors

Fair exchange in e-commerce and certified e-mail, new scenarios and protocols

We are witnessing a steady growth in the use of Internet in the electronic commerce field. This rise is promoting the migration from traditional processes and applications (paper based) to an electronic model. But the security of electronic transactions continues to pose an impediment to its implementation. Traditionally, most business transactions were conducted in person. Signing a contract required the meeting of all interested parties, the postman delivered certified mail in hand, and when paying for goods or services both customer and provider were present. When all parties are physically present, a transaction does not require a complex protocol. The participants acknowledge the presence of the other parties as assurance that they will receive their parts, whether a signature on a contract, or a receipt, etc. But with e-commerce growing in importance as sales and business channel, all these transactions have moved to its digital counterpart. Therefore we have digital signature of contracts, certified delivery of messages and electronic payment systems. With electronic transactions, the physical presence is not required,moreover, most of the times it is even impossible. The participants in a transaction can be thousands of kilometers away from each other, and they may not even be human participants, they can be machines. Thus, the security that the transaction will be executed without incident is not assured per se, we need additional security measures. To address this problem, fair exchange protocols were developed. In a fair exchange every party involved has an item that wants to exchange, but none of the participants is willing to give his item away unless he has an assurance he will receive the corresponding item from the other participants. Fair exchange has many applications, like digital signature of contracts, where the items to be exchanged are signatures on contracts, certified delivery of messages, where we exchange a message for evidence of receipt, or a payment process, where we exchange a payment (e-cash, e-check, visa, etc.) for digital goods or a receipt. The objective of this dissertation is the study of the fair exchange problem. In particular, it presents two new scenarios for digital contracting, the Atomic Multi- Two Party (AM2P) and the Agent Mediated Scenario (AMS), and proposes one optimistic contract signing protocol for each one. Moreover, it studies the efficiency of Multi-Party Contract Signing (MPCS) protocols from their architecture point of view, presenting a new lower bound for each architecture, in terms of minimum number of transactions needed. Regarding Certified Electronic Mail (CEM), this dissertation presents two optimistic CEMprotocols designed to be deployed on thecurrent e-mail infrastructure, therefore they assume the participation of multiple Mail Transfer Agents (MTAs). In one case, the protocol assumes untrusted MTAs whereas in the other one it assumes each User Agent (UA) trusts his own MTA. Regarding payment systems, this dissertation presents a secure and efficient electronic bearer bank check scheme allowing the electronic checks to be transferred fairly and anonymously.L’ús d’Internet en l’àmbit del comerç electrònic està experimentant un creixement estable. Aquest increment d’ús està promovent lamigració de processos tradicionals i aplicacions (basades en paper) cap a un model electrònic. Però la seguretat de les transaccions electròniques continua impedint la seva implantació. Tradicionalment, la majoria de les transaccions s’han dut a terme en persona. La firma d’un contracte requeria la presència de tots els firmants, el carter entrega les cartes certificades enmà, i quan es paga per un bé o servei ambdós venedor i comprador hi són presents. Quan totes les parts hi són presents, les transaccions no requereixen un protocol complex. Els participants assumeixen la presència de les altres parts com assegurança que rebran el que esperen d’elles, ja sigui la firma d’un contracte, un rebut d’entrega o un pagament. Però amb el creixement del comerç electrònic com a canal de venda i negoci, totes aquestes transaccions s’hanmogut al seu equivalent en el món electrònic. Així doncs tenim firma electrònica de contractes, enviament certificat de missatges, sistemes de pagament electrònic, etc. En les transaccions electròniques la presència física no és necessària, de fet, la majoria de vegades és fins it tot impossible. Els participants poden estar separats permilers de kilòmetres, i no és necessari que siguin humans, podrien sermàquines. Llavors, la seguretat de que la transacció s’executarà correctament no està assegurada per se, necessitem proporcionar mesures de seguretat addicionals. Per solucionar aquest problema, es van desenvolupar els protocols d’intercanvi equitatiu. En un intercanvi equitatiu totes les parts involucrades tenen un objecte que volen intercanviar, però cap de les parts implicades vol donar el seu objecte si no té la seguretat que rebrà els objectes de les altres parts. L’intercanvi equitatiu té multitud d’aplicacions, com la firma electrònica de contractes, on els elements a intercanviar son firmes de contractes, enviament certificat demissatges, on s’intercanvien unmissatge per una evidència de recepció, o un procés de pagament, on intercanviemun pagament (e-cash, visa, e-xec, etc.) per bens digitals o per un rebut. L’objectiu d’aquesta tesi és estudiar el problema de l’intercanvi equitatiu. En particular, la tesi presenta dos nous escenaris per a la firma electrònica de contractes, l’escenari multi-two party atòmic i l’escenari amb agents intermediaris, i proposa un protocol optimista per a cada un d’ells. A més, presenta un estudi de l’eficiència dels protocols de firma electrònica multi-part (Multi-Party Contract Signing (MPCS) protocols) des del punt de vista de la seva arquitectura, presentant una nova fita per a cada una, en termes de mínim nombre de transaccions necessàries. Pel que fa al correu electrònic certificat, aquesta tesi presenta dos protocols optimistes dissenyats per a ser desplegats damunt l’infraestructura actual de correu electrònic, per tant assumeix la participació demúltiples agents de transferència de correu. Un dels protocols assumeix que cap dels agents de transferència de correu participants és de confiança,mentre que l’altre assumeix que cada usuari confia en el seu propi agent. Pel que fa a sistemes de pagament, la tesi presenta un esquema de xec bancari al portador, eficient i segur, que garanteix que la transferència dels xecs es fa demanera anònima i equitativa

Physics at the Linear Collider

The physics at the planned $e^+e^-$ colliders is discussed around three main topics corresponding to different manifestations of symmetry breaking: $W$ physics in the no Higgs scenario, studies of the properties of the Higgs and precision tests of SUSY. A comparison with the LHC is made for all these cases. The $\gamma \gamma$ mode of the linear collider will also be reviewed.Comment: 31 pages, 12 figures. Invited talk given at the Fifth Workshop on High Energy Physics Phenomenology, Inter-University Centre for Astronomy and Astrophysics, Pune, India, January 12 - 26, 199