655 research outputs found
Economic Discourse and the European Integration of Financial Infrastructures and Financial Markets
European integration of financial markets appears to repeatedly encounter specific kinds of problems about the substance and limits of the notion of âthe marketâ undergoing integration, and about the status and role of money, market infrastructures, and government within it. Moreover, these problems and the controversies around them parallel classical discussions in economic theory such as that between conceptions of the market as a frictionless space and as a process of competition. A âcompetitive conception of the marketâ is identified as producing these parallel problems and controversies in European market integration and economic theory because it implies a contradictory âintegration of fragmentation.â These themes and parallels can be specifically identified in a recent major project to integrate financial market infrastructures: a pan-European settlement platform â âTarget2-Securities (T2S)â â to overcome existing fragmentation between the systems that perform the actual delivery of money and securities from financial transactions. Moreover, a close analysis of T2S answers a question that existing sociological and political economy approaches to European integration â focusing primarily on the interests and ideas of powerful players â struggle with: why T2S will become de facto a monopoly for the European Central Bank when early on in the integration process EU institutions emphasized an industry-led integration. Foucaultâs notion of âdiscursive formationâ is employed to conceptualize these arguments.[Discours Ă©conomique et intĂ©gration des marchĂ©s et des infrastructures financiers europĂ©ens] LâintĂ©gration europĂ©enne des marchĂ©s financiers semble se heurter de maniĂšre rĂ©pĂ©tĂ©e Ă un certain type de problĂšmes concernant la substance et les limites conceptuelles de ce « marchĂ© » en cours dâintĂ©gration, ainsi que le statut et le rĂŽle quây revĂȘtent lâargent, les infrastructures et la gouvernance publique. Ces problĂšmes et les controverses quâils soulĂšvent prĂ©sentent un parallĂ©lisme avec des dĂ©bats classiques de thĂ©orie Ă©conomique tels que celui qui oppose les conceptions du marchĂ© comme espace sans frottements et comme processus de concurrence. Ce parallĂ©lisme de problĂšmes et de controverses observĂ© entre intĂ©gration du marchĂ© europĂ©en et thĂ©orie Ă©conomique est attribuĂ© ici Ă une « conception concurrentielle du marchĂ© » car celle-ci implique lâidĂ©e contradictoire dâune « intĂ©gration de la fragmentation ». Nous nous sommes plus particuliĂšrement attachĂ© Ă repĂ©rer ces thĂšmes et ces parallĂšles dans un grand projet rĂ©cent dâintĂ©gration des infrastructures de marchĂ© financier : la plateforme paneuropĂ©enne de rĂšglement-livraison de titres Target2-Securities (ou T2S), censĂ©e surmonter la fragmentation des systĂšmes qui rĂ©alisent les transferts dâargent et de titres lors de transactions financiĂšres. Lâanalyse minutieuse de ce projet permet en outre dâavancer une rĂ©ponse Ă une Ă©nigme que les approches habituelles de lâintĂ©gration europĂ©enne en sociologie et en Ă©conomie politique (political economy) â principalement centrĂ©es sur les intĂ©rĂȘts et idĂ©es des acteurs les plus puissants â sont bien en peine dâĂ©claircir : Ă savoir la raison pour laquelle T2S sera de facto un monopole de la Banque centrale europĂ©enne, alors que les institutions europĂ©ennes privilĂ©gient depuis le dĂ©but lâintĂ©gration par les acteurs privĂ©s. La notion foucaldienne de « formation discursive » est mise Ă contribution pour conceptualiser ces thĂšses.1 Introduction 2 Studying discourse 3 Material and analytical strategy 4 Target2-Securities Who creates central bank money? The technical controversy over âDelivery versus Paymentâ Things are not what they seem: The legal controversy over the Legal Assessment In the market or outside the market? The economic controversy over cost recovery Ferrari on a bumpy road: The political controversy over harmonization 5 The limits of existing approaches 6 Economic discourse and European integration The four controversies revisited 7 Conclusion: On the competitive conception of the market Appendix: Interviews Reference
A Look at the Generalized Heron Problem through the Lens of Majorization-Minimization
In a recent issue of this journal, Mordukhovich et al.\ pose and solve an
interesting non-differentiable generalization of the Heron problem in the
framework of modern convex analysis. In the generalized Heron problem one is
given closed convex sets in \Real^d equipped with its Euclidean norm
and asked to find the point in the last set such that the sum of the distances
to the first sets is minimal. In later work the authors generalize the
Heron problem even further, relax its convexity assumptions, study its
theoretical properties, and pursue subgradient algorithms for solving the
convex case. Here, we revisit the original problem solely from the numerical
perspective. By exploiting the majorization-minimization (MM) principle of
computational statistics and rudimentary techniques from differential calculus,
we are able to construct a very fast algorithm for solving the Euclidean
version of the generalized Heron problem.Comment: 21 pages, 3 figure
Outbreaks of Aleutian mink disease in farmed mink (Neovison vison) in Denmark: molecular characterization by partial NS1 gene sequencing
RĂ©fĂ©rence bibliographique : Rol, 107031Appartient Ă lâensemble documentaire : Pho20RolAppartient Ă lâensemble documentaire : FrancComt1Image de press
Association Testing of Novel Type 2 Diabetes Risk Alleles in the JAZF1, CDC123/CAMK1D, TSPAN8, THADA, ADAMTS9, and NOTCH2 Loci With Insulin Release, Insulin Sensitivity, and Obesity in a Population-Based Sample of 4,516 Glucose-Tolerant Middle-Aged Danes
OBJECTIVEâ We evaluated the impact on diabetes-related intermediary traits of common novel type 2 diabetesâassociated variants in the JAZF1 (rs864745), CDC123/CAMK1D (rs12779790), TSPAN8 (rs7961581), THADA (rs7578597), ADAMTS9 (rs4607103), and NOTCH2 (rs10923931) loci, which were recently identified by meta-analysis of genome-wide association data
Mixed integer programming in production planning with backlogging and setup carryover : modeling and algorithms
This paper proposes a mixed integer programming formulation for modeling the capacitated multi-level lot sizing problem with both backlogging and setup carryover. Based on the model formulation, a progressive time-oriented decomposition heuristic framework is then proposed, where improvement and construction heuristics are effectively combined, therefore efficiently avoiding the weaknesses associated with the one-time decisions made by other classical time-oriented decomposition algorithms. Computational results show that the proposed optimization framework provides competitive solutions within a reasonable time
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