Building a common european energy policy around a market based approach.

Pays de l'Union européenne; Politique énergétique;

« Going with Coase against Coase : The Dynamic Approach to the Internalization of External Effects »

The article develops R. H. Coase’s insight that the level of transaction costs in the market determines the amount of externalities, thus providing arguments against government intervention. Contrary to Coase, however, we argue that the level of transaction costs cannot be considered as given, and that there is therefore a case for selective and innovative government intervention to reduce such transaction costs. Externalities are approached as intrinsically new and dynamic impacts, whose transaction costs diminish over time, a process that can be accelerated by appropriate government action. In contrast, internalization by means of public intervention through Pigouvian taxation is shown to be epistemologically untenable: if externalities had sufficient information content to allow governments to determine optimal tax levels, these same externalities would already have been fully internalized by the market. The final part of the article proposes two internalization strategies based on a dynamic re-interpretation of the Coasean approach. The first aims at developing feedback mechanisms between generators of externalities and those affected by them through media other than the market. The second seeks to reduce transaction costs in order to extend the domain in which markets can operate effectively by proposing codification strategies for the informational complexities characterizing externalities.External effects, incomplete information, environmental economics, transaction costs, codification, dynamic internalization

Hearing in young adults, part I: the effects of attitudes and beliefs toward noise, hearing loss and hearing protector devices

There is great concern regarding the development of noise-induced hearing loss (NIHL) in youth caused by high sound levels during various leisure activities. Health-orientated behavior of young adults might be linked to the beliefs and attitudes toward noise, hearing loss, and hearing protector devices (HPDs). The objective of the current study was to evaluate the effects of attitudes and beliefs toward noise, hearing loss, and HPDs on young adults hearing status. A questionnaire and an audiological test battery were completed by 163 subjects (aged 18-30 years). The questionnaire contained the Youth Attitude to Noise Scale (YANS) and Beliefs about Hearing Protection and Hearing Loss (BAHPHL). A more positive attitude or belief represented an attitude where noise or hearing loss is seen as unproblematic and attitudes and beliefs regarding HPDs is worse. Hearing was evaluated using (high frequency) pure tone audiometry (PTA), transient evoked and distortion product otoacoustic emissions. First, mean differences in hearing between the groups with different attitudes and beliefs were evaluated using one-way analysis of variance (ANOVA). Second, a (2) test was used to examine the usage of HPDs by the different groups with different attitudes and beliefs. Young adults with a positive attitude had significantly more deteriorated hearing and used HPDs less than the other subjects. Hearing conservation programs (HCPs) for young adults should provide information and knowledge regarding noise, hearing loss, and HPDs. Barriers wearing HPDs should especially be discussed. Further, those campaigns should focus on self-experienced hearing related symptoms that might serve as triggers for attitudinal and behavioral changes

Securities clearance and settlement systems - a guide to best practices

As an essential part of a nation's financial sector infrastructure, securities clearance, and settlement systems must be closely integrated with national payment systems, so that safety, soundness, certainty, and efficiency can be achieved at a cost acceptable to all participants. Central banks have paid considerable attention to payment systems, but securities clearance, and settlement systems have only recently been subjected to rigorous assessment. The Western Hemisphere Payments and Securities Clearance and Settlement Initiative (WHI), led by the World Bank, and in cooperation with the Centro de Estudios Monetarios Latinoamericanos (CEMLA), gave the authors a unique opportunity to observe how various countries in Latin America, and the Caribbean undertake securities clearance, and settlement. To do so, the authors developed a practical, and implementable assessment methodology, covering key issues that affect the quality of such systems. In this paper they discuss the objectives, scope, and content of a typical securities system, identify the elements that influence the system's quality, and show how their assessment methodology works. They focus on the development of core principles, and minimum standards for integrated systems of payments, and securities clearance and settlement. Their paper fills a gap by providing an evaluation tool for assessors of such systems, especially those who must assess evolving systems in developing, and transition economies. Essentially, an assessment involves a structured analysis to answer four related questions: 1) What are the objective, and scope of a securities clearance and settlement system? 2) Who are the participants, what roles do they play, and what expectations do they have? 3) What procedures are required to satisfy the participants'needs? 4) What inherent risks are involved, and how can they be mitigated at an acceptable cost?Environmental Economics&Policies,Payment Systems&Infrastructure,Financial Intermediation,International Terrorism&Counterterrorism,Securities Markets Policy&Regulation,Financial Intermediation,Environmental Economics&Policies,Settlement of Investment Disputes,Payment Systems&Infrastructure,Insurance&Risk Mitigation

Hearing in young adults, part II : the effects of recreational noise exposure

Great concern arises from recreational noise exposure, which might lead to noise-induced hearing loss in young adults. The objective of the current study was to evaluate the effects of recreational noise exposure on hearing function in young adults. A questionnaire concerning recreational noise exposures and an audiological test battery were completed by 163 subjects (aged 18-30 years). Based on the duration of exposure and self-estimated loudness of various leisure-time activities, the weekly and lifetime equivalent noise exposure were calculated. Subjects were categorized in groups with low, intermediate, and high recreational noise exposure based on these values. Hearing was evaluated using audiometry, transient-evoked otoacoustic emissions (TEOAEs), and distortion-product otoacoustic emissions (DPOAEs). Mean differences in hearing between groups with low, intermediate, and high recreational noise exposure were evaluated using one-way analysis of variance (ANOVA). There were no significant differences in hearing thresholds, TEOAE amplitudes, and DPOAE amplitudes between groups with low, intermediate, or high recreational noise exposure. Nevertheless, one-third of our subjects exceeded the weekly equivalent noise exposure for all activities of 75 dBA. Further, the highest equivalent sound pressure levels (SPLs) were calculated for the activities visiting nightclubs or pubs, attending concerts or festivals, and playing in a band or orchestra. Moreover, temporary tinnitus after recreational noise exposure was found in 86% of our subjects. There were no significant differences in hearing between groups with low, intermediate, and high recreational noise exposure. Nevertheless, a long-term assessment of young adults hearing in relation to recreational noise exposure is needed

Prevalence and characteristics of tinnitus after leisure noise exposure in young adults

The main goal of this study was to assess the prevalence and characteristics of tinnitus among students after exposure to leisure noise. In addition, the effects of tinnitus on otoacoustic emissions (OAEs) in participants suffering from chronic tinnitus were evaluated. The study consisted of two parts. First, a questionnaire regarding leisure noise exposure and tinnitus was completed. Second, the hearing status of the subjects suffering from chronic tinnitus was evaluated and compared with a matched control group (CG). Furthermore, the psychoacoustical characteristics of their tinnitus in the chronic tinnitus group (TG) were established. The questionnaire was answered by 151 respondents. Seven persons suffering from chronic tinnitus were examined further in the second part of the study. Transient tinnitus was observed in 73.5% of the respondents after leisure noise exposure and 6.6% experienced chronic tinnitus. Transient and chronic tinnitus had similar characteristics, as established by the questionnaire. The amplitude of transient evoked otoacoustic emissions and distortion product otoacoustic emissions was reduced and the amount of efferent suppression was smaller in the TG as compared with the CG. Tinnitus induced by leisure noise is observed frequently in young adults. The characteristics of tinnitus cannot predict whether it will have a transient or rather a chronic nature. In subjects suffering from tinnitus, subclinical damage that cannot be detected by audiometry can be demonstrated by measuring OAEs. These findings underpin the importance of educating youth about the risks of noise exposure during leisure activities

Do Carbon Permits Constitute a Respectable Asset Class? Efficiency, Liquidity and Volatility in comparison with Other Financial Markets.

Emission markets; Carbon;

Prozessoptimierung durch Aktivierung : Die Steigerung der Wirksamkeit prozessbegleitender Evaluationen durch aktivierende Datenerhebung

Wie können prozessbegieitende Evaluationen auch unter ungünstigen Rahmenbedingungen wirksam dazu beitragen, dass Verbundprojekte ihren Arbeitsprozess optimieren? Der vorliegende Artikel zeigt, dass und inwieweit dies durch eine aktivierende Gestaltung der Datenerhebung möglich ist. Als Beispiel dient die Evaluation eines Arbeitsmarktprojekts, das von der Gemeinschaftsinitiative EQUAL der EU gefördert wurde. Die Sichtweisen innerhalb des Projektteams waren bereits zu Beginn der Evaluation so stark verfestigt, dass trotz der partizipativen Vorgehensweise eine kritisch-konstruktive Diskussion und Reflexion der Zwischenergebnisse nicht möglich war. Indem die Interviews mit den Projektbeteiligten in Anlehnung an aktivierende Befragungsmethoden gestaltet wurden, konnten die Teammitglieder dazu animiert werden, ihre Aktivitäten zu reflektieren. Hierdurch wurde auf der Teamebene wieder eine kritische Auseinandersetzung mit den Projektaktivitäten möglich