Permanent trading impacts and bond yields

We analyze four years of transaction data for euro-area sovereign bonds traded on the MTS electronic platforms. In order to measure the informational content of trading activity, we estimate the permanent price response to trades. We find not only strong evidence of information asymmetry in sovereign bond markets, but we also show the relevance of information asymmetry in explaining the cross-sectional variations of bond yields across a wide range of bond maturities and countries. Our results confirm that trades of more recently issued bonds and longer maturity bonds have a greater permanent effect on prices. We compare the price impact of trades for bonds across different maturity categories and find that trades of French and German bonds have the highest long-term price impact in the short maturity class whereas trades of German bonds have the highest permanent price impacts in the long maturity class. More importantly, we study the cross-section of bond yields and find that after controlling for conventional factors, investors demand higher yields for bonds with larger permanent trading impact. Interestingly, when investors face increased market uncertainty, they require even higher compensation for information asymmetry.

Are gay rights Islamophobic? A critique of some uses of the concept of homonationalism in activism and academia

The concept of ‘homonationalism’ refers to deployments of gay rights for racist and Islamophobic ends, resulting in the consolidation of more sexually inclusive, but racially exclusionary, ideas of citizenship. This article critiques some of the analyses that the concept has inspired in both activist and academic contexts. The critique concentrates on two texts, showing that they make inappropriate rhetorical moves and inaccurate or unsubstantiated claims, and that rather than unearthing structural undercurrents of racism from certain texts or events, they project such structures onto them. While the validity of ‘homonationalism’ as an analytical category is not disputed, some of its propounders assume its explanatory power to be greater than it appears to be. The implications of this critique for gay rights activism and reform are explored.

Going global: the Brazilian scripted film

This article departs from the assumption that a certain section of world cinema, usually defined as ‘independent’, has been evolving on the basis of good scripts. Between the late 1980s and early 90s, there has been a boom of new cinemas in the world, such as the new Iranian, Taiwanese, Japanese, Mexican, Argentine and Brazilian cinemas. A significant part of this production shows a renewed interest in local and national peculiarities of their respective countries, going against the grain of globalisation and its typical cultural dilution. Most of these films are also engaged in reassessing narrative cinema, as a kind of reaction against the deconstructive work carried out by postmodern cinema of the 1980s.Recent new cinemas are supported by a combination of local and international resources, derived from public and private sponsors at home, and funding agencies, festivals and TV channels abroad. In most cases funds are granted after the film script has been analysed and approved by commissions of experts. The New Brazilian Cinema, or cinema da retomada as it is locally called, has been enormously affected by this scheme, which has even caused a ‘script boom’ in Brazil in the past decade. The chapter examins the results of this process.

Implicit learning and imperceptible influence: Syncretic literacy of multilingual Chinese children.

This article reports on an ethnographic study involving the literacy practices of two multilingual Chinese children from two similar yet different cultural and linguistic contexts: Montreal and Singapore. Using syncretism as a theoretical tool, this inquiry examines how family environment and support facilitate children’s process of becoming literate in multiple languages. Informed by sociocultural theory, the inquiry looks in particular at the role of grandparents in the syncretic literacy practices of children. Through comparative analysis, the study reveals similarities and differences that, when considered together, contribute to our understanding of multilingual children’s creative forms of learning with regard to their rich literacy resources in multiple languages, the imperceptible influences of mediators, various learning styles and syncretic literacy practices.

Parental death as a vital conjuncture? Intergenerational care and responsibility following bereavement in Senegal

This article explores the ways that parental death represents a 'vital conjuncture' for Serer young people that reconfigures and potentially transforms intergenerational caring responsibilities in different spatial and temporal contexts. Drawing on semi-structured interviews with young people (aged 15-27), family members, religious and community leaders and professionals in rural and urban Senegal, I explore young people's responses to parental death. 'Continuing bonds' with the deceased were expressed through memories evoked in homespace, shared family practices and gendered responsibilities to 'take care of' bereaved family members, to cultivate inherited farmland and to fulfil the wishes of the deceased. Parental death could reconfigure intergenerational care and lead to shifts in power dynamics, as eldest sons asserted their position of authority. While care-giving roles were associated with agency, the low social status accorded to young women's paid and unpaid domestic work undermined their efforts. The research contributes to understandings of gendered nuances in the experience of bereavement and continuing bonds and provides insight into intra-household decision-making processes, ownership and control of assets. Analysis of the culturally specific meanings of relationships and a young person's social location within hierarchies of gender, age, sibling birth order and wider socio-cultural norms and practices is needed.

How does investing in cheap labour countries affect performance at home? Firm-level evidence from France and Italy

Transferring low tech manufacturing jobs to cheap labour countries is often seen by part of the general public and policy makers as a step into the de-industrialization of the European economies. However, recent contributions have shown that the effects on home economies are rarely negative. Our paper contributes to this literature by examining how outward investments to developing and less developed countries (LDCs) affect home activities of French and Italian firms that turn multinational in the period analysed. The effects of these investments are also compared to the effects of investments to developed economies (DCs). The analysis is carried out by using propensity score matching. We find no evidence of a negative effect of outward investments to LDCs. In Italy they have a positive long term effect on value added and employment. For France we find a positive effect on the size of domestic output and employment.

Threat interpretation bias in anxious children and their mothers

The role of parents in the development of anxiety disorders in children is of increasing research and clinical interest. This study investigated interpretation biases of anxious children and their mothers using the ambiguous stimuli task developed by Hadwin, Frost, French, and Richards (1997). Three groups of children (aged 7 to 12 years) and their mothers were recruited; 23 non-clinical controls, 18 children with an anxiety disorder and 15 children with an externalising disorder. Following diagnostic assessments of the children, children and their mothers independently completed the homophone task and self-report measures of anxiety. Mothers of anxious children had significantly higher self-reported anxiety than mothers of non-clinical children. As hypothesised, children in the anxious group had higher threat interpretation scores than the non-clinical group. The hypothesis that mothers of anxious children would make more threat interpretations was not supported. Paired correlations showed no significant association between threat interpretations made by children and their mothers. There was a significant positive correlation between maternal threat interpretation and child anxiety. The results suggest that there is a complex association between mother's anxiety and cognitions and those of their children, which requires further examination in controlled observational and experimental studies, including treatment trials.

A new regime of carbon counting: the practices and politics of accounting for everyday carbon through C02e

Inspired by the commercial desires of global brands and retailers to access the lucrative green consumer market, carbon is increasingly being counted and made knowable at the mundane sites of everyday production and consumption, from the carbon footprint of a plastic kitchen fork to that of an online bank account. Despite the challenges of counting and making commensurable the global warming impact of a myriad of biophysical and societal activities, this desire to communicate a product or service's carbon footprint has sparked complicated carbon calculative practices and enrolled actors at literally every node of multi-scaled and vastly complex global supply chains. Against this landscape, this paper critically analyzes the counting practices that create the ‘e’ in ‘CO2e’. It is shown that, central to these practices are a series of tools, models and databases which, in building upon previous work (Eden, 2012 and Star and Griesemer, 1989) we conceptualize here as ‘boundary objects’. By enrolling everyday actors from farmers to consumers, these objects abstract and stabilize greenhouse gas emissions from their messy material and social contexts into units of CO2e which can then be translated along a product's supply chain, thereby establishing a new currency of ‘everyday supply chain carbon’. However, in making all greenhouse gas-related practices commensurable and in enrolling and stabilizing the transfer of information between multiple actors these objects oversee a process of simplification reliant upon, and subject to, a multiplicity of approximations, assumptions, errors, discrepancies and/or omissions. Further the outcomes of these tools are subject to the politicized and commercial agendas of the worlds they attempt to link, with each boundary actor inscribing different meanings to a product's carbon footprint in accordance with their specific subjectivities, commercial desires and epistemic framings. It is therefore shown that how a boundary object transforms greenhouse gas emissions into units of CO2e, is the outcome of distinct ideologies regarding ‘what’ a product's carbon footprint is and how it should be made legible. These politicized decisions, in turn, inform specific reduction activities and ultimately advance distinct, specific and increasingly durable transition pathways to a low carbon society.

Language networks, literary translation and the friars in late medieval ireland

Dublin, Trinity College MS 667 (olim F 5 3) is something of a meeting point of languages and traditions, representing one of the most significant witnesses to Latin exemplars for vernacular translations to survive from medieval Ireland. What is more, the translated texts appear to travel in groups, with several Irish-language manuscripts bearing close comparison to Trinity 667 in the texts and versions of texts they contain. Examining these texts and the contexts in which they circulated in Irish can give us a sense of the sorts of historical and cultural currents to which such translation work appears to have been responding.

Pasolini and Third World hunger: an approach to Cinema Novo through 'La ricotta'

Among the links between Pier Paolo Pasolini and Brazilian Cinema Novo, one of the most inspiring is the political approach to hunger and consumption. In this text, I analyse this topic to look at how some of the aesthetic ideas in Pasolini’s La ricotta (1963) can also be found in some of the most important films of Cinema Novo. In 'La ricotta' (1963), the irresistible need to eat of a subproletarian interacts and clashes with his responsibilities as an actor in a movie version of the Passion of Christ, so that the film creates a complex network of relations between film shooting, social differences, art, hunger, consumption, time and light, which turns the film set into a space for displaying political relations, differences, exploitation and revolution. The correspondences between these concepts and some aggression techniques of Cinema Novo are numerous and confirm the capacity of Pasolini’s film to project ideas on cinema and politics beyond its particular production context.

The Stephen Dwoskin dossier: introduction

This dossier aims to consider the contribution Stephen Dwoskin and his work made to the development of film and its infrastructure in the UK from 1964 when he arrived in the London until his death in 2012. Dwoskin not only straddled different contexts and ideologies about film but advocated for the support of work in a wide variety of forms. Because of this he was not easily categorizeable. Much of the work analyzing his camera work and his contribution to film is written in French and there is little, particularly in recent years, in English. As such this dossier constituted an important contribution to the reassessment of a singular avant-garde artist and film maker. (can I use avant garde here?) In the light of his recent death this is a timely moment for a consideration of Dwoskin’s achievements and legacy. As well as having a groundbreaking vision of what film could do, he was an influential figure and constituting force in terms of the milieu and structures that supported the independent film world in the UK for several decades. Much of the literature surrounding this world in the UK has been formed by key figures making sense of their part in history. This dossier aims towards some first steps in historicising his legacy. Two of the proposed texts will be making use of new material to conduct original research made available through the recently acquired Dwoskin Archive at University of Reading. Due to Dowksin’s heterogenous involvement in film, there are many ways in which Dwoskin can be considered and the proposed essays will take a range of perspectives to assess and analyse his contribution.