Asset Price Instability and Policy Responses: The Legacy of Liberalisation

The debate about the dynamics and potential policy responses to asset inflation has intensified in recent years. Some analysts, notably Borio and Lowe, have called for 'subtle' changes to existing monetary targeting frameworks to try to deal with the problems of asset inflation and have attempted to developed indicators of financial vulnerability to aid this process. In contrast, this paper argues that the uncertainties involved in understanding financial market developments and their potential impact on the real economy are likely to remain too high to embolden policy makers. The political and institutional risks associated with policy errors are also significant. The fundamental premise that a liberalised financial system is based on 'efficient' market allocation cannot be overlooked. The corollary is that any serious attempt to stabilize financial market outcomes must involve at least a partial reversal of deregulation.

Perceived self-other differences in persuasibility: the effects of interpersonal and group-based similarity

Two experiments examined the effects of interpersonal and group-based similarity on perceived self-other differences in persuasibility (i.e. on third-person effects, Davison, 1983). Results of Experiment 1 (N=121), based on experimentally-created groups, indicated that third-person perceptions with respect to the impact of televised product ads were accentuated when the comparison was made with interpersonally different others. Contrary to predictions, third-person perceptions were not affected by group-based similarity (i.e. ingroup or outgroup other). Results of Experiment 2 (N = 102), based an an enduring social identity, indicated that both interpersonal and group-based similarity moderated perceptions of the impact on self and other of least-liked product ads. Overall, third-person effects were more pronounced with respect to interpersonally dissimilar others. However, when social identity was salient, information about interpersonal similarity of the target did not affect perceived self-other differences with respect to ingroup targets. Results also highlighted significant differences in third-person perceptions according to the perceiver's affective evaluation of the persuasive message. (C) 1998 John Wiley & Sons, Ltd.

Aminotriazines as locking fragments in macrocyclic synthesis

The macrocyclic compounds (6-(4',6'-diamino-1',3',5'-triazinyl)-1,4,6,8,11-pentaazacyclotetradecane)copper(II) triperchlorate dihydrate, [Cu(HL2)](ClO4)(3). 2H(2)O, (6-(6'-amino-4'-oxo-1'H-1',3',5'-triazinyl)-1,4,6,8,11-pentaazacyclotetradecane)copper(II) diperchlorate hydrate, [CuL3](ClO4)(2). H2O, and [(6-(4',6'-dioxo-1'H-1',3',5'-triazinyl) 1,4,6,8,11-pentaazacyclotetradecane)copper(II)] diperchlorate, [CuL4](ClO4)(2), have been synthesized. The macrocycles synthesized contain respectively pendant melamine, ammeline,and ammelide rings. The X-ray cyrstallographic analyses of [Cu(HL2)](ClO4)(3). 2H(2)O, triclinic, space group P (1) over bar, a = 9.489(10) Angstrom, b = 12.340(2) Angstrom, c = 24.496(4) Angstrom, alpha = 87.74(10)degrees beta = 85.51(10)degrees gamma = 70.95(10)degrees and Z = 4, and {[CuL3](ClO4)(2). H2O}2, monoclinic, space group C2/c, a = 18.624(8) Angstrom, b = 17.160(2) Angstrom, c = 15.998(6) Angstrom, beta = 117.82(2)degrees, and Z = 4, are reported. The structure of [Cu(HL2)](ClO4)(3). 2H(2)O shows the formation of linear tapes, formed by a combination of hydrogen bonds and pi-pi stacking interactions. The structure of [CuL3](ClO4)(2). H2O displays formation of dimers, formed by a coordinate bond from the oxygen in one molecule to the copper atom of another. The tautomeric forms of the ammeline and ammelide moieties have been determined. The potential of these compounds as subunits for cocrystallization has been investigated.