AIDS drugs for Africa!' a case study examining transnational AIDS treatment activism and the reduction of global antiretroviral prices from 1996 to 2001

Includes abstract. Includes bibliographical references

En klarlegging av begrepet "særlig uavhengig stilling" i arbeidsmiljøloven § 10-12 (2) - Med fokus på dagens teknologiske arbeidsliv

MasteroppgaveJUS399MAJUR-2MAJU

Size is not everything: differing activity and foraging patterns between the sexes in a monomorphic mammal

Animals balance foraging with other activities, and activity patterns may differ between sexes due to differing physical requirements and reproductive investments. Sex-specific behavioural differences are common in sexually dimorphic mammals, but have received limited research attention in monomorphic mammals where the sexes are similar in body size. Eurasian beavers (Castor fiber) are obligate monogamous and monomorphic mammals and a good model species to study sex-specific differences. As females increase energy expenditure during reproduction, we hypothesized differing seasonal activity budgets, circadian activity rhythms and foraging patterns between male and reproducing female beavers. To test this hypothesis, we equipped adult beavers with VHF transmitters (N=41; 16 female, 25 male) and observed them throughout their active period at night from spring to late summer. Occurrence of their main activities (foraging, travelling and being in lodge) and use of food items (trees/shrubs, aquatic vegetation and herbs/grasses) were modelled to investigate sex-specific seasonal activity budgets and circadian activity rhythms. The sexes did not differ in time spent foraging across the season or night, but during spring, females resided more in the lodge and travelled less. Males and females both foraged on aquatic vegetation during spring, but females used this food source also during late summer, whereas males mostly foraged on trees/shrubs throughout the year. We conclude that seasonal activity budgets and foraging differ subtly between the sexes, which may relate to different energy budgets associated with reproduction and nutritional requirements. Such subtle seasonal behavioural adaptions may be vital for survival and reproduction of monomorphic species.publishedVersio

Portfolio Flows in a two-country RBC model with financial intermediaries

The paper presents a two-country real business cycle model with a financial sector that intermediates portfolio flows. It is changes in demand for financial assets from foreign investors relative to domestic investors that gives rise to portfolio flows. The simulations show that portfolio flows to emerging markets respond negatively to global risk in line with findings from the empirical literature. The transmission channel that links portfolio flows to credit in emerging markets is the financial intermediary's demand for deposit liabilities (demand for savings). One can avoid the transmission by absorbing the shock before it affects the intermediary's demand for savings. The results show that financial shocks (eg: risk) can be absorbed by optimal changes in the supply of risk free assets. Real shocks (eg: income) can be absorbed by keeping the supply of financial assets fixed and instead allowing the prices to adjust to demand. Macroprudential regulation that limits the total risk exposure of the financial sector increases the volatility of portfolio flows, but reduces the volatility of consumption and labour and therefore increases welfare. Volatility in the composition of the balance sheet (portfolio flows), does not necessarily increase volatility in the aggregate size of the balance sheet (savings). The model uses a risk-constraint on bank balance sheets as a tool to ensure less-than-perfect elasticity of demand for financial assets. The elasticity of demand is important because it determines the size and direction of portfolio flows

Are determinants of portfolio flows always the same? - South African results from a time varying parameter VAR model

The literature on determinants of cross-border capital flows has consistently assumed the determinants of such flows to be constant throughout the sample. This paper investigates this notion by estimating the time varying relationship between portfolio flows to South Africa and two widely accepted determinants of such flows: the sovereign spread and global risk (measured by the CBOE Volatility Index, henceforth VIX). The results show that the time variation is highly significant and a constant parameter model will give biased estimates of the effects of risk on capital flows. The paper also gives important insights to South African policy makers and financial practitioners: Bond flows (non-resident purchases of South African bonds) have become more sensitive to the VIX after 2010. Share flows were particularly sensitive at the peak of the 2008 global financial crisis, but have at other times not responded in a statistically significant manner to changes in global risk. The relationships are estimated using a time varying parameter vector autoregressive (TVP VAR) model with stochastic volatilit