Global monetary policy shocks in the G5: a SVAR approach

The paper constructs a global monetary aggregate, namely the sum of the key monetary aggregates of the G5 economies (US, Euro area, Japan, UK, and Canada), and analyses its indicator properties for global output and inflation. Using a structural VAR approach we find that after a monetary policy shock output declines temporarily, with the downward effect reaching a peak within the second year, and the global monetary aggregate drops significantly. In addition, the price level rises permanently in response to a positive shock to the global liquidity aggregate. The similarity of our results with those found in country studies might supports the use of a global monetary aggregate as a summary measure of worldwide monetary trends. JEL Classification: E52, F0

Global Monetary Policy Shocks in the G5: A SVAR Approach

The paper constructs a global monetary aggregate, namely the sum of the key monetary aggregates of the G5 economies (US, Euro area, Japan, UK, and Canada), and analyses its indicator properties for global output and inflation. Using a structural VAR approach we find that after a monetary policy shock output declines temporarily, with the downward effect reaching a peak within the second year, and the global monetary aggregate drops significantly. In addition, the price level rises permanently in response to a positive shock to the global liquidity aggregate. The similarity of our results with those found in country studies might supports the use of a global monetary aggregate as a summary measure of worldwide monetary trends.Monetary Policy, Structural VAR, Global Eco

Nonlinear Stability of Riemann Ellipsoids with Symmetric Configurations

We apply geometric techniques to obtain the necessary and sufficient conditions on the existence and nonlinear stability of self-gravitating Riemann ellipsoids having at least two equal axes

Antitrust Private Enforcement and the Binding Effect of Public Enforcement Decisions

This paper provides an overview of the legal status quo in the European Union relating to the binding effect, in follow-on competition law cases, of public enforcement decisions, as well as of some of the legal issues which are likely to be the subject of controversy in years to come, in this regard. It tackles decisions declaring antitrust infringements adopted by the European Commission and by national competition authorities, as well as commitment decisions and decisions declaring infringements of merger control and State aid rules. It discusses the material, subjective and temporal scope of the binding effect. It also tackles other issues, such as the obligations of national courts relating to non-infringement decisions and ongoing investigations, and the issue of negative declarations. Finally, it looks into the arguments which may be put forward by litigants before national courts to avoid or circumvent the binding effect of public enforcement decisions. It is argued that the case-law already provides answers to many of the issues which are likely to be raised, which one may arrive at through a systematic and coherent interpretation of the general principles of EU Law, as clarified by the Court

eABC: scientific publications bibliografic archive

The paper intends to present eABC – Scientific Publications Bibliographic Archive of University of Aveiro’. It describes the motivation that induced its implementation, advantages for users and for all those whom the system serves. Some of the systems functionalities will be presented, along with a description on how to use them. Finally, the current status of the system - as it is being used by the University of Aveiro - will be presented, with the addition of an explanation on how this system helps in the creation of mechanisms that enable the adaptability and flexibility of systems to improve the scientific community dynamics

Uber Court: a look at recent sharing economy cases before the CJEU

This paper describes and discusses the two recent judgments of the CJEU regarding the clarification of the concept of information society services, both of which concern Uber. Although theses cases concern Uber, what is, a contrario, important to consider from the case-law is the broader context of the implication(s) of this case-law for EU law and the national regulation of the new sharing economy services – namely in what may affect the pending Airbnb case