Internationalization and Financial Federalism: The United States and Germany at the Crossroads?

In this article, the authors examine some effects of economic internationalization on state structures, especially in regard to the distribution of power and authority within federalist systems. Using an institutional rational choice model, they analyze changes in financial regulation and market structures in Germany and the United States. The focus is on the financial realm because of its high degree of internationalization and because, in both countries, financial markets and regulation have historically exhibited federalist traits. The findings indicate that internationalization has led to significant convergence in financial market structures and regulation across the two countries and that in each case this convergence has been accompanied by centralization of financial regulatory authority. Although both the German type of cooperative federalism and the U.S. model of competitive federalism proved to be vulnerable to the growing international pressures, the two countries took different paths of change that reflected differences in domestic institutions. Thus, the authors conclude that convergence is, and will likely remain, of a limited nature

Wenn Banken sich vergessen ...: Risikoregulierung im internationalen Mehr-Ebenen-System

Globalisierungsprozesse erzeugen Problemlagen, die allein durch nationalstaatliche Intervention nicht mehr zu bewältigen sind. Pessimistische Szenarien schließen daraus auf ein generelles "Steuerungsversagen" des Nationalstaates mit der Folge einer wettbewerblichen Deregulierung von Sicherheitsstandards ("race to the bottom"). Eher optimistische Vertreter des politikwissenschaftlichen "Regimeansatzes" sehen die Aushandlung selbstbindender Lösungen zwischen Vertretern betroffener Territorien als Schlüssel für den Rückgewinn von Problemlösungsfähigkeit an. Der folgende Beitrag zeigt hingegen am Beispiel der Geschichte internationaler Bankenregulierung, daß das internationale Mehr-Ebenen-System vielmehr eine "requisite variety" an institutionellen Problemlösungen bietet. Je nach Art des Finanzrisikos und damit des Regelungsproblems, das sich mit unterschiedlichen Phasen finanzwirtschaftlicher Globalisierung stellt, kann es sich hierbei um international verhandelte Sicherheitsstandards oder um komplexere Mehr-Ebenen-Arrangements handeln, die internationale Koordination mit nationalen Lernprozessen kombinieren.Processes of economic globalization create regulatory problems that can no longer be solved at the nation-state level alone. Pessimistic scenarios forecast that states will lose control of their policy instruments and that deregulatory "races to the bottom" are likely to follow. More optimistic protagonists of the "international regime" approach however contend that territorial representatives might engage in intergovernmental negotiations that lead to successful binding commitments. This paper argues that a multi-level-governance system offers a requisite variety of institutional solutions that address the regulatory problems better. A historical analysis of the evolution of regulatory arrangements in international banking shows that different institutional settings are chosen depending on the degree of financial globalization. Some aspects of risk can be dealt with through intergouvernemental negotiations. Others associated with more pronounced glob-alization demand more complex multi-level governance arrangements which combine international coordination with nation-state specific learning processes.1 Globalisierung und die doppelte Erosion nationalstaatlicher Souveränität 2 Das alte Modell: Standardisierung durch internationale Verhandlung 3 Neue Problemlage durch Globalisierung: Vom Kreditrisiko zum Marktrisiko 4 Das neue Modell: Nationales Lernen im Schatten internationaler Koordination 5 Globalisierung und Risikoregulierung im internationalen Mehr-Ebenen-System Literatu

Steuerung industrieller Forschungskooperation: Funktionsweise und Erfolgsbedingungen des staatlichen Förderinstruments Verbundforschung

Vor dem Hintergrund rapiden technologischen Wandels wird die Forschungskooperation zwischen Unternehmen zunehmend als kritischer Faktor für den Gewinn unternehmens- und branchenspezifischer, aber auch nationaler Wettbewerbsvorteile diskutiert und gewinnt gleichzeitig als Bedingung staatlicher Forschungsförderung an Bedeutung. In diesem Buch werden die strukturellen, personellen und kognitiven Voraussetzungen erfolgreicher Forschungskooperation am Beispiel des Förderprogramms Fertigungstechnik herausgearbeitet.Übersichten, Abbildungen und Tabellen Abkürzungen Kapitel 1 Einleitung 1 Kooperationen in der Industrieforschung - ein Bedarf an staatlicher Steuerung? 2 Die Förderung industrieller Forschungskooperationen als Instrument staatlicher Forschungspolitik 3 Staatliche Steuerung in verflochtenen Handlungssystemen 4 Aufbau und Datenbasis der Untersuchung Kapitel 2 Das Modell industrieller Verbundforschung auf Programmebene 1 Die Genese des Förderinstrumentes 1.1 Das Modell Japan als ausländisches Vorbild 1.2 Die bundesdeutsche Diskussion: Ordnungspolitik und Subsidiarität in der industriellen Forschungsförderung 1.3 Die Aushandlung allgemeiner Richtlinien der Verbundförderung 2 Ausgestaltung institutioneller Merkmale der Verbundförderung in verschiedenen Forschungsprogrammen 2.1 Inhaltliche und strukturelle Ziele der Verbundförderung 2.2 Modus der Themenfindung 2.3 Finanzierungsmodell 2.4 Projektstruktur 2.5 Zusammenfassung 3 Technologiefeld Fertigungstechnik - Akteurkonstellationen und Genese institutioneller Merkmale der Verbundförderung 3.1 Der Projektträger als intermediärer Akteur 3.2 Industrielle und wissenschaftliche Adressaten - interne Fragmentierung und organisiertes Kartell 3.3 Verbundforschung als Ergebnis "verflochtener Politik" 3.3.1 Modus der Themenfindung 3.3.2 Inhalte 3.3.3 Projektstruktur und Finanzierungsmodell 3.3.4 Zusammenfassung Kapitel 3 Das Modell industrieller Verbundforschung auf Projektebene 1 Fallbeispiel: Programm Fertigungstechnik 1984-88 - Verbundprojekt "Fertigungstechnologie Kleben" (FTK) 2 Institutionelle Strukturen und Innovationstätigkeit auf dem Klebstoffsektor 2.1 Die industrielle Struktur 2.2 Die Forschungslandschaft auf wissenschaftlicher Seite 2.3 Formen der Kooperation zwischen Akteuren des Klebstoffsektors 2.3.1 Das Modell industrieller Gemeinschaftsforschung (AIF) 2.3.2 Bilaterale Kooperationsbeziehungen - Charakteristika und typische Probleme Vertikale Beziehung: Hersteller/Zulieferer - Anwender/Kunde Horizontale Beziehung - Konkurrenz Beziehung Institut - Unternehmen 2.4 Stand der Technik auf dem Klebstoffsektor 2.5 Fazit: Kooperationsbeziehungen und Innovationstätigkeit auf dem Klebstoffsektor 3 Vorgeschichte, Genese und Arbeit des Verbundprojektes "Fertigungstechnologie Kleben" 3.1 Die Vorgeschichte: Aufbau und Institutionen 3.2 Die Genese: Konsensbildung und Fixierung 3.3 Die Arbeit im Projekt: Von korporativen Akteuren zur Gruppe 3.4 Der technologische Ertrag des Verbundprojektes 4 Netzwerkdynamiken und ihre Bedeutung für die Realisierung eines technologischen Paradigmenwechsels 4.1 Vertikale Beziehung 4.2 Horizontale Beziehung/Konkurrenz 4.3 Beziehung Institut - Unternehmen 4.4 Die Bedingungen für den Erfolg von Kooperation 5 Die Leistungsfähigkeit interorganisatorischer Netzwerke - Erfolge und Probleme der Kooperation im Verbundprojekt Kapitel 4 Die Rolle des Staates bei der Konzipierung und Implementierung der Verbundförderung Anhang Literatu

Information-Theoretic Active Learning for Content-Based Image Retrieval

We propose Information-Theoretic Active Learning (ITAL), a novel batch-mode active learning method for binary classification, and apply it for acquiring meaningful user feedback in the context of content-based image retrieval. Instead of combining different heuristics such as uncertainty, diversity, or density, our method is based on maximizing the mutual information between the predicted relevance of the images and the expected user feedback regarding the selected batch. We propose suitable approximations to this computationally demanding problem and also integrate an explicit model of user behavior that accounts for possible incorrect labels and unnameable instances. Furthermore, our approach does not only take the structure of the data but also the expected model output change caused by the user feedback into account. In contrast to other methods, ITAL turns out to be highly flexible and provides state-of-the-art performance across various datasets, such as MIRFLICKR and ImageNet.Comment: GCPR 2018 paper (14 pages text + 2 pages references + 6 pages appendix

Generation of aurachin derivatives by whole-cell biotransformation and evaluation of their antiprotozoal properties

The natural product aurachin D is a farnesylated quinolone alkaloid, which is known to possess activity against the causative agent of malaria, Plasmodium spp. In this study, we show that aurachin D inhibits other parasitic protozoa as well. While aurachin D had only a modest effect on Trypanosoma brucei rhodesiense, two other trypanosomatids, T. cruzi and Leishmania donovani, were killed at low micromolar and nanomolar concentrations, respectively, in an in vitro assay. The determined IC50 values of aurachin D were even lower than those of the reference drugs benznidazole and miltefosine. Due to these promising results, we set out to explore the impact of structural modifications on the bioactivity of this natural product. In order to generate aurachin D derivatives with varying substituents at the C-2, C-6 and C-7 position of the quinolone ring system, we resorted to whole-cell biotransformation using a recombinant Escherichia coli strain capable of aurachin-type prenylations. Quinolone precursor molecules featuring methyl, methoxy and halogen groups were fed to this E. coli strain, which converted the substrates into the desired analogs. None of the generated derivatives exhibited improved antiprotozoal properties in comparison to aurachin D. Obviously, the naturally occurring aurachin D features already a privileged structure, especially for the inhibition of the causative agent of visceral leishmaniasis

Quark Model Estimates of the Structure of the Meson-N-N*(1535,1/2-) Transition Vertices

We address an actual problem of baryon-resonance dominated meson-exchange processes in the low GeV regime, i.e. the phase and the structure of meson-NN* transition vertices. Our starting point is a quark-diquark model for the baryons (obeying approximate covariance; the mesons are kept as elementary objects), together with the relative phases for the NN vertices, as determined from low energy NN scattering. From the explicit representation of the N and N* baryons, we exemplify the derivation of the coupling constants and form factors of the NN*(1535,1/2-)transition vertices for pseudo-scalar, scalar and vector mesons.Comment: 17 pages, 5 figures, 1 tabl

Analyses and localization of pectin-like carbohydrates in cell wall and mucilage of the green alga Netrium digitus

The unicellular, simply shaped desmid Netrium digitus inhabiting acid bog ponds grows in two phases. Prior to division, the cell elongates at its central zone, whereas in a second phase, polar tip growth occurs. Electron microscopy demonstrates that Netrium is surrounded by a morphologically homogeneous cell wall, which lacks pores. Immunocytochemical and biochemical analyses give insight into physical wall properties and, thus, into adaptation to the extreme environment. The monoclonal antibodies JIM5 and JIM7 directed against pectic epitopes with different degrees of esterification label preferentially growing wall zones in Netrium. In contrast, 2F4 marks the cell wall only after experimental de-esterification. Electron energy loss spectroscopy reveals Ca-binding capacities of pectins and gives indirect evidence for the degree of their esterification. An antibody raised against Netrium mucilage is not only specific to mucilage but also recognizes wall components in transmission electron microscopy and dot blots. These results indicate a smooth transition between mucilage and the cell wall in Netrium

Cyclic competition of four species: domains and interfaces

We study numerically domain growth and interface fluctuations in one- and two-dimensional lattice systems composed of four species that interact in a cyclic way. Particle mobility is implemented through exchanges of particles located on neighboring lattice sites. For the chain we find that domain growth strongly depends on the mobility, with a higher mobility yielding a larger domain growth exponent. In two space dimensions, when also exchanges between mutually neutral particles are possible, both domain growth and interface fluctuations display universal regimes that are independent of the predation and exchange rates.Comment: 14 pages, 7 figures, version accepted for publication in J. Stat. Mec

What difference does Euro membership make to stabilization? The political economy of international monetary systems revisited

For many political economists, the loss of monetary sovereignty is the major reason why the Southern periphery fared so badly in the Euro area crisis. Monetary sovereignty here means the ability of the central bank to devalue the exchange rate or to buy government debt by printing the domestic currency. We explore this diagnosis by comparing three countries - Hungary, Latvia and Greece – that received considerable amounts of external assistance under different monetary regimes. The evidence does not suggest that monetary sovereignty helped Hungary and Latvia to stabilize their economies. Rather, cooperation and external assistance made foreign banks share in the costs of stabilization. By contrast, the provision of liquidity by the ECB inadvertently facilitated the reduction of foreign banks’ exposure to Greece which left the Greek sovereign even more exposed. By viewing the Euro area as a monetary system rather than an incomplete state, we see that what is needed for Euro area stabilization is cooperation over banking union, rather than a fully-fledged federal budget