Limiting punishment for default on sovereign debt and the London Club.

In this paper, we examine the role that institutions may play in enabling banks to write contracts whereby sovereign debt is not forgiven ex post. Our model provides a rationale for the emergence of a centralized forum for debt renegotiation, such as the London Club as well as for bank syndicates. These bank syndicates arise as part of a pre-commitment device rather than risk sharing. We propose a debt contract under which, only involuntary default is forgiven ex post. Our main findings are that under this contract, renegotiations take place only after involuntary default and debt forgiveness after voluntary (strategic) default is avoided. When voluntary default occurs, access to the credit market is denied only for a limited number of periods, rather than forever. In contrast to a voluntary default, involuntary default is renegotiated immediately.Default; Sovereign debt;

Українці та румуни: багатолітній досвід життя поруч

Рец. на кн.: Рендюк Т.Г. Українці в Румунії та румуни в Україні: проблеми минулого та сучасне становище. – К., 2011. – 293 с

Interbestuurlijk toezicht op de politieke en wetenschappelijke agenda: het wetsvoorstel 'Revitalisering generiek toezicht', het wetsvoorstel 'Naleving Europese regelgeving publieke entiteiten' en interbestuurlijk toezicht in Koninkrijksverband

Trias Europea: de verhoudingen tussen de overheidsmachten in de EU en de lidstaten in een bewegend constitutioneel landscha

Optimized architecture for SNOW 3G

SNOW 3G is a synchronous, word-oriented stream cipher used by the 3GPP standards as a confidentiality and integrity algorithms. It is used as first set in long term evolution (LTE) and as a second set in universal mobile telecommunications system (UMTS) networks. The cipher uses 128-bit key and 128 bit IV to produce 32-bit ciphertext. The paper presents two techniques for performance enhancement. The first technique uses novel CLA architecture to minimize the propagation delay of the 232 modulo adders. The second technique uses novel architecture for S-box to minimize the chip area. The presented work uses VHDL language for coding. The same is implemented on the FPGA device Virtex xc5vfx100e manufactured by Xilinx. The presented architecture achieved a maximum frequency of 254.9 MHz and throughput of 7.2235 Gbps

Dairy Farm Business Summary: Southeastern New York Region 1990

A.E. Ext. 91-17Dairy farmers throughout New York State have been participating in Cornell Cooperative Extension's farm business summary and analysis program since the early 1950's. Each participating farmer receives a comprehensive business summary and analysis of his or her farm business. The information in this report represents an average of the data submitted from farms in the Southeastern New York region

Onrechtmatige rechtspraak in Nederland: coulanter compenseren?

Effective Protection of Fundamental Rights in a pluralist worl

CSF metabolites associated with biomarkers of Alzheimer’s disease pathology

INTRODUCTION: Metabolomics technology facilitates studying associations between small molecules and disease processes. Correlating metabolites in cerebrospinal fluid (CSF) with Alzheimer’s disease (AD) CSF biomarkers may elucidate additional changes that are associated with early AD pathology and enhance our knowledge of the disease. METHODS: The relative abundance of untargeted metabolites was assessed in 161 individuals from the Wisconsin Registry for Alzheimer’s Prevention. A metabolome-wide association study (MWAS) was conducted between 269 CSF metabolites and protein biomarkers reflecting brain amyloidosis, tau pathology, neuronal and synaptic degeneration, and astrocyte or microglial activation and neuroinflammation. Linear mixed-effects regression analyses were performed with random intercepts for sample relatedness and repeated measurements and fixed effects for age, sex, and years of education. The metabolome-wide significance was determined by a false discovery rate threshold of 0.05. The significant metabolites were replicated in 154 independent individuals from then Wisconsin Alzheimer’s Disease Research Center. Mendelian randomization was performed using genome-wide significant single nucleotide polymorphisms from a CSF metabolites genome-wide association study. RESULTS: Metabolome-wide association study results showed several significantly associated metabolites for all the biomarkers except Aβ42/40 and IL-6. Genetic variants associated with metabolites and Mendelian randomization analysis provided evidence for a causal association of metabolites for soluble triggering receptor expressed on myeloid cells 2 (sTREM2), amyloid β (Aβ40), α-synuclein, total tau, phosphorylated tau, and neurogranin, for example, palmitoyl sphingomyelin (d18:1/16:0) for sTREM2, and erythritol for Aβ40 and α-synuclein. DISCUSSION: This study provides evidence that CSF metabolites are associated with AD-related pathology, and many of these associations may be causal

Insulin resistance is related to cognitive decline but not change in CSF biomarkers of Alzheimer's disease in non-demented adults

Introduction: We investigated whether insulin resistance (IR) was associated with longitudinal age-related change in cognition and biomarkers of Alzheimer's disease (AD) pathology and neurodegeneration in middle-aged and older adults who were non-demented at baseline. Methods: IR was measured with homeostatic model assessment of insulin resistance (HOMA2-IR). Core AD-related cerebrospinal fluid (CSF) biomarkers and cognition were assessed, respectively, on n = 212 (1 to 5 visits) and n = 1299 (1 to 6 visits). Linear mixed models tested whether HOMA2-IR moderated age-related change in CSF biomarkers and cognition. Linear regressions tested whether HOMA2-IR x apolipoprotein E ε4 allele (APOE ε4) carrier status predicted amyloid beta [Aβ] chronicity (estimated duration of amyloid positron emission tomography [PET] positivity) (n = 253). Results: Higher HOMA2-IR was associated with greater cognitive decline but not with changes in CSF biomarkers. HOMA2-IR x APOE4 was not related to Aβ chronicity but was significantly associated with CSF phosphorylated tau (P-tau)181/Aβ42 level. Discussion: In non-demented adults IR may not be directly associated with age-related change in AD biomarkers. Additional research is needed to determine mechanisms linking IR to cognitive decline

Current practice patterns of outpatient management of acute pulmonary embolism: A post-hoc analysis of the YEARS study

Background: Studies have shown the safety of home treatment of patients with pulmonary embolism (PE) at low risk of adverse events. Management studi