38,318 research outputs found
Opinion polls support a more European approach to the crisis. CEPS Commentary, 11 August 2011
In his latest Commentary, Karel Lannoo expresses frustration over the inconsistency between the latest Eurobarometer survey indicating is a clear indication of public support for EU institutions to more aggressively take the lead in resolving the economic crisis and the timidity of those institutions, with the possible exception of the ECB, to do so
What an infra-nilmanifold endomorphism really should be
Infra-nilmanifold endomorphisms were introduced in the late sixties. They
play a very crucial role in dynamics, especially when studying expanding maps
and Anosov diffeomorphisms. However, in this note we will explain that the two
main results in this area are based on a false result and that although we can
repair one of these two theorems, there remains doubt on the correctness of the
other one. Moreover, we will also show that the notion of an infra-nilmanifold
endomorphism itself has not always been interpreted in the same way. Finally,
we define a slightly more general concept of the notion of an infra-nilmanifold
endomorphism and explain why this is really the right concept to work with
Financial Market Data and MiFID. ECMI Policy Briefs No. 6, 30 March 2007
The opening-up of the market for equity market data raises the question of whether data will be sufficiently consolidated and of high enough quality post-MiFID, or whether it will become too fragmented, thereby hindering price transparency and the implementation of best execution policies. This policy brief outlines the market for financial market data, the provisions of MiFID and the implementing measures regarding financial data and data consolidation. It also looks at the approaches taken by CESR, the FSA and the US authorities. It concludes that markets should be capable of adapting and that additional licensing requirements, such as those proposed by the FSA, are in fact premature and act as a barrier to the single market. Nor would a US-style monopoly consolidator be needed in this case
Credit Rating Agencies: Scapegoat or free-riders? CEPS ECMI Commentaries No. 20, 9 October 2008
This Commentary by CEPS Chief Executive Karel Lannoo examines the draft directive issued for consultation by Commissioner Charlie McCreevy in July 2008, which proposes very detailed and prescriptive regulation of the activities of rating agencies in the EU. While acknowledging that policy-makers had no choice but to take action, Lannoo asserts that the draft raises fundamental questions about the form of the regulation and its impact on the industry and the markets. Namely: 1) Confronted with a globally concentrated industry, can the EU act alone? 2) Considering the fragmentation of the EU market, how will the regulation be applied? 3) Is functional regulation, as proposed by the European Commission, appropriate, or is more objective-based regulation needed? 4) What side effects may be caused by statutory regulation of CRAs
On factorization scheme suitable for NLO Monte Carlo event generators
The choice of a factorization scheme suitable for Monte Carlo simulations of
NLO initial state parton showers is discussed in this contribution.Comment: Contribution to International Symposium on Multiparticle Dynamics,
Hamburg, September 2008, 5 pages, 1 figur
Is the Private Language Argument a Transcendental Argument?
Comparisons between Kant´s critique of pure
reason and Wittgenstein´s critique of language, which
became current in analytic philosophy (Cf. e.g Hacker
1972, 30.) seem not far-fetched in view of the impetus for
the destruction of dogmatic metaphysics both philosophers
share. Their relevance would gain though by an
elaboration of their dissimilarities rather than by just
stressing similarities.
An example of the former approach, Weinert
(1983, 412) contrasts the tools both critics of metaphysics
employ: the distinction between analytic and synthetic
judgments, and the description of the logic of languageuse
and in particular the ´Argument from Epistemic
Operators´ (Wittgenstein 1961, sects. 6.5, 6.51; 1958, §§
246, 247, 251, 303; references in the form of paragraphnumbers
are to the latter text) respectively. The analysis of
the employment of those tools in anti-metaphysical
arguments -and Weinert treats the Private Language
Argument (PLA) as such (427-429)- enables to uncover
underlying assumptions, e.g. the implicit assumption in
Kant of a prior conceptual relation between concepts to
which his notion of analysis is to be applied (430-431) and
Wittgenstein´s explicit doctrine that "ordinary language is
alright� (434)
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