Monetary Union: European Lessons, Latin American Prospects

In this paper selective issues of long-run sustainability of monetary unions are analyzed. Using theoretical insights and the experience of EMU up to now we argue that empirical evidence on OCA criteria for EMU suggests that benefits for the countries participating in EMU outweigh costs by a relatively large margin although by varying degrees from country to country. We also conclude that the Stability Pact is a sufficient but not a necessary condition for EMU to succeed and that EMU has been driven by political considerations. A sound financial sector is a precondition. With regard to lessons to be drawn for Latin America and the Caribbean we first find that there has been a strong push towards the floating cum inflation-targeting corner and to regional trade integration. Moreover, it seems that, in contrast to EMU, the benefit-cost balance of a move to monetary union is much less favorable in Latin America and the Caribbean and, most important, the political dimension missing.

Too much noise in the Times Higher Education rankings

Several individual indicators from the Times Higher Education Survey (THES) data base—the overall score, the reported staff-to-student ratio, and the peer ratings—demonstrate unacceptably high fluctuation from year to year. The inappropriateness of the summary tabulations for assessing the majority of the “top 200” universities would be apparent purely for reason of this obvious statistical instability regardless of other grounds of criticism. There are far too many anomalies in the change scores of the various indices for them to be of use in the course of university management

Bound -state β- -decay of bare 205 Tl 81+

Beta decay into bound electron states of the daughter atom accompanied by the emission of a monochromatic antineutrino, has been predicted by Daudel et al.[1]. However, a noteworthy probability of βb- decay exists only for highly-charged ions, which makes its observation rather difficult

Enhanced carbon pump inferred from relaxation of nutrient limitation in the glacial ocean

The modern Eastern Equatorial Pacific (EEP) Ocean is a large oceanic source of carbon to the atmosphere. Primary productivity over large areas of the EEP is limited by silicic acid and iron availability, and because of this constraint the organic carbon export to the deep ocean is unable to compensate for the outgassing of carbon dioxide that occurs through upwelling of deep waters. It has been suggested that the delivery of dust-borne iron to the glacial ocean, could have increased primary productivity and enhanced deep-sea carbon export in this region, lowering atmospheric carbon dioxide concentrations during glacial periods. Such a role for the EEP is supported by higher organic carbon burial rates documented in underlying glacial sediments but lower opal accumulation rates cast doubts on the importance of the EEP as an oceanic region for significant glacial carbon dioxide drawdown. Here we present a new silicon isotope record that suggests the paradoxical decline in opal accumulation rate in the glacial EEP results from a decrease in the silicon to carbon uptake ratio of diatoms under conditions of increased iron availability from enhanced dust input. Consequently, our study supports the idea of an invigorated biological pump in this region during the last glacial period that could have contributed to glacial carbon dioxide drawdown. Additionally, using evidence from silicon and nitrogen isotope changes, we infer that, in contrast to the modern situation, the biological productivity in this region is not constrained by the availability of iron, silicon and nitrogen during the glacial period. We hypothesize that an invigorated biological carbon dioxide pump constrained perhaps only by phosphorus limitation was a more common occurrence in low-latitude areas of the glacial ocean

Exchange Rate Appreciation As a Signal of a New Policy Stance

It is shown in a game theoretic framework that it may pay off to signal a “conservative” policy stance--giving a high priority to price stability--by appreciating the exchange rate. Such an appreciation demonstrates to domestic producers and more precisely to the trade union that the new policy stance is meant to be serious. An example explores the welfare implication for the policy maker and the trade union. The empirical background of the paper refers to the monetary policy in Europe. It explains the occurrence of exchange rate commitments to the deutsche mark, with appreciated rates.

Judicii Cameræ Imperialis Personæ Præsentes

JUDICII CAMERÆ IMPERIALIS PERSONÆ PRÆSENTES Judicii Cameræ Imperialis Personæ Præsentes ([1]

Judicii Cameræ Imperialis Personæ Præsentes

JUDICII CAMERÆ IMPERIALIS PERSONÆ PRÆSENTES Judicii Cameræ Imperialis Personæ Præsentes ([1]

Des Hochlöblichen Kayserlichen Und Heiligen Römischen Reichs Cammer-Gerichts Gemeine Bescheide Und andere Raths-Schlüsse : Vom Jahr 1497. biß 1711. inclusive, Welche Zum Theil zwaren vorhin schon-zum Theil jedoch noch nicht in offentlichen Druck kommen; Nun aber zusammen cum Notis, Und dem darüber Von der ... Kayserlichen Commission ... An das ... Cammer-Gericht Ergangenem Decreto ... herausgegeben und gedruckt worden ...

Vorlageform des Erscheinungsvermerks: Wetzlar, Gedruckt und verlegt von Georg Ernst Winckler. Anno 1714

Judicii Cameræ Imperialis Personæ Præsentes

JUDICII CAMERÆ IMPERIALIS PERSONÆ PRÆSENTES Judicii Cameræ Imperialis Personæ Præsentes ([1]