Technology Transfers in the EEC: A Look at the Proposed Block Exemption for Exclusive Patent Licensing Agreements

In this Note, the Present Draft is examined in light of the goals and history of Community competition policy. After a discussion of patents and licensing, the previous drafts and criticisms thereof are examined. An analysis of the recent decisions in Nungesser v. Commission (Maize Seed) and Coditel v. Ciné Vog as they relate to the proposed regulation follows. Finally, it is suggested that the Commission\u27s present position, as evidenced by the Present Draft of the proposed regulation, constitutes an appropriate balance between the demands of industry and the needs of the Community

Bank Failure: Evidence from the Colombia Financial Crisis

This paper identifies the main bank specific determinants of bank failure during the financial crisis in Colombia using duration analysis. Using partial likelihood estimation, it shows that the process of failure of financial institutions during that period can be explained by differences in financial health and prudence across institutions. The capitalization ratio is the most significant indicator explaining bank failure. Increases in this ratio lead to a reduction in the hazard rate of failure at any given moment in time. Of special relevance, this ratio exhibits a non-linear component. Our results thus provide empirical support for existing regulatory practice. Other important variables explaining bank failure dynamics are bank's size and profitability.

Magnon valley Hall effect in CrI3-based vdW heterostructures

Magnonic excitations in the two-dimensional (2D) van der Waals (vdW) ferromagnet CrI3 are studied. We find that bulk magnons exhibit a non-trivial topological band structure without the need for Dzyaloshinskii-Moriya (DM) interaction. This is shown in vdW heterostructures, consisting of single-layer CrI3 on top of different 2D materials as MoTe2, HfS2 and WSe2. We find numerically that the proposed substrates modify substantially the out-of-plane magnetic anisotropy on each sublattice of the CrI3 subsystem. The induced staggered anisotropy, combined with a proper band inversion, leads to the opening of a topological gap of the magnon spectrum. Since the gap is opened non-symmetrically at the K+ and K- points of the Brillouin zone, an imbalance in the magnon population between these two valleys can be created under a driving force. This phenomenon is in close analogy to the so-called valley Hall effect (VHE), and thus termed as magnon valley Hall effect (MVHE). In linear response to a temperature gradient we quantify this effect by the evaluation of the temperature-dependence of the magnon thermal Hall effect. These findings open a different avenue by adding the valley degrees of freedom besides the spin, in the study of magnons

Bank Market Power and Firm Finance: Evidence from Bank and Loan Level Data

We present new measures of market power for the banking industry in Colombia and estimate their effect on the cost of credit for non-financial firms. Our results suggest that bank competition increased during the 2006-2008 period even as concentration increased but decreased thereafter. Using a unique combination of loan, firm and bank-level data sets we are also able to show that banks loosing overall market power –measured by the average price-cost margin– decrease interest rates to small firms, but increase rates to firms with which they have the oldest credit relationships. This suggests (i) the existence of market power that is specific to the bank-firm re lationship (i .e., informa-tional lock-in and hold-up problems due to switching costs), and (ii) that size may be capturing other firm attributes such as observable risk, scale effects or implicit collateral

OH rotational lines as a diagnostic of the warm neutral gas in galaxies

We present Infrared Space Observatory (ISO) observations of several OH, CH and H2O rotational lines toward the bright infrared galaxies NGC253 and NGC1068. As found in the Galactic clouds in SgrB2 and Orion, the extragalactic far-IR OH lines change from absorption to emission depending on the physical conditions and distribution of gas and dust along the line of sight. As a result, most of the OH rotational lines that appear in absorption toward NGC253 are observed in emission toward NGC1068. We show that the far-IR spectrum of OH can be used as a powerful diagnostic to derive the physical conditions of extragalactic neutral gas. In particular, we find that a warm (Tk~150 K, n(H2)< 5 10^4 cm^-3) component of molecular gas with an OH abundance of 10^{-7} from the inner <15'' can qualitatively reproduce the OH lines toward NGC253. Similar temperatures but higher densities (5 10^5 cm^-3) are required to explain the OH emission in NGC1068.Comment: 5 pages, 4 figures, accepted in ApJ Part I (2004, October 6

The Effects of the Peak-Peak Correlation on the Peak Model of Hierarchical Clustering

In two previous papers a semi-analytical model was presented for the hierarchical clustering of halos via gravitational instability from peaks in a random Gaussian field of density fluctuations. This model is better founded than the extended Press-Schechter model, which is known to agree with numerical simulations and to make similar predictions. The specific merger rate, however, shows a significant departure at intermediate captured masses. The origin of this was suspected as being the rather crude approximation used for the density of nested peaks. Here, we seek to verify this suspicion by implementing a more accurate expression for the latter quantity which accounts for the correlation among peaks. We confirm that the inclusion of the peak-peak correlation improves the specific merger rate, while the good behavior of the remaining quantities is preserved.Comment: ApJ accepted. 15 pages, including 4 figures. Also available at ftp://pcess1.am.ub.es/pub/ApJ/effectpp.ps.g