The Use and Abuse of Special-Purpose Entities in Public Finance

States increasingly are raising financing indirectly through special-purpose entities (SPEs), variously referred to as authorities, special authorities, or public authorities. Notwithstanding their long history and increasingly widespread use, relatively little is known or has been written about these entities. This article examines state SPEs and their functions, comparing them to SPEs used in corporate finance. States, even more than corporations, use these entities to reduce financial transparency and avoid public scrutiny, seriously threatening the integrity of public finance. The article analyzes how regulation could be designed in order to control that threat while maintaining the legitimate financing benefits provided by these state entities

Constitutional Analogies in the International Legal System

This Article explores issues at the frontier of international law and constitutional law. It considers five key structural and systemic challenges that the international legal system now faces: (1) decentralization and disaggregation; (2) normative and institutional hierarchies; (3) compliance and enforcement; (4) exit and escape; and (5) democracy and legitimacy. Each of these issues raises questions of governance, institutional design, and allocation of authority paralleling the questions that domestic legal systems have answered in constitutional terms. For each of these issues, I survey the international legal landscape and consider the salience of potential analogies to domestic constitutions, drawing upon and extending the writings of international legal scholars and international relations theorists. I also offer some preliminary thoughts about why some treaties and institutions, but not others, more readily lend themselves to analysis in constitutional terms. And I distinguish those legal and political issues that may generate useful insights for scholars studying the growing intersections of international and constitutional law from other areas that may be more resistant to constitutional analogies

Parity realization in Vector-like theories from Fermion Bilinears

We reconsider in this paper the old aim of trying to understand if the observed realization of discrete symmetries as Parity or CP in the QCD vacuum can be satisfied from first principles. We show how under the appropriate assumptions implicitely done by Vafa and Witten in their old paper on parity realization in vector-like theories, all parity and CP odd operators constructed from fermion bilinears of the form $\bar\psi\tilde O\psi$ should take a vanishing vacuum expectation value in a vector-like theory with N degenerate flavours (N>1). In our analysis the Vafa-Witten theorem on the impossibility to break spontaneously the flavour symmetry in a vector-like theory plays a fundamental role.Comment: 12 pages, no figures To be published in JHE

A Study of Activated Processes in Soft Sphere Glass

On the basis of long simulations of a binary mixture of soft spheres just below the glass transition, we make an exploratory study of the activated processes that contribute to the dynamics. We concentrate on statistical measures of the size of the activated processes.Comment: 17 pages, 9 postscript figures with epsf, uses harvmac.te