Pro-American non-alignment. Sweden and Finland develop closer military co-operation with the United States. OSW COMMENTARY NUMBER 205/31.03.2016

Russia’s increasingly aggressive policy and its enhanced military activity in the Nordic-Baltic region has led to revaluations in Sweden’s and Finland’s security and defence policies and a rethinking of the formats of their military co-operation. While remaining outside NATO, the two states have been developing closer bilateral defence co-operation and working more closely with the United States, while at the same time developing co-operation with NATO. Sweden and Finland perceive the United States as the guarantor of regional and European security. From their point of view, the United States is currently the country that has both the necessary military capabilities and the political will to react in the event of a conflict between Russia and NATO in the Nordic-Baltic region, in which both countries would inevitably become involved despite their non-aligned status. For Sweden and Finland, intensified co-operation with the United States offers an alternative to NATO membership, which is currently out of the question for domestic political reasons. Meanwhile, the US has also become increasingly aware of the strategic importance of the two states, which, for the purposes of contingency planning, are in fact an extension of NATO’s north-eastern flank.

Is there a need for additional monetary stimulus? Insights from the original Taylor Rule. CEPS Policy Brief No. 342, April 2016

Central banks in the developed world are being misled into fighting the perceived dangers of a ‘deflationary spiral’ because they are looking at only one indicator: consumer prices. This Policy Brief finds that while consumer prices are flat, broader price indices do not show any sign of impending deflation: the GDP deflator is increasing in the US, Japan and the euro area by about 1.2-1.5%. Nor is the real economy sending any deflationary signals either: unemployment is at record lows in the US and Japan, and is declining in the euro area while GDP growth is at, or above potential. Thus, the overall macroeconomic situation does not give any indication of an imminent deflationary spiral. In today’s high-debt environment, the authors argue that central banks should be looking at the GDP deflator and the growth of nominal GDP, instead of CPI inflation. Nominal GDP growth, as forecasted by the major official institutions, remains robust and is in excess of nominal interest rates. They conclude that if the ECB were to set the interest rate according to the standard rules of thumb for monetary policy, which take into account both the real economy and price developments of broader price indicators, it would start normalising its policy now, instead of pondering over additional measures to fight deflation, which does not exist. In short, economic conditions are slowly normalising; so should monetary policy.

Cautious and rotational – US military engagement on NATO’s eastern flank. OSW Commentary NUMBER 216 | 05.07.2016

The Russian annexation of Crimea in 2014 put a stop to the gradual scaling down of US military engagement in Europe, a policy that the United States had pursued since the end of the Cold War. The Russian-Ukrainian conflict became a watershed for the US perceptions of European security as Washington started to see the threat of a conflict between Russia and a NATO member as more probable. The United States decided that – despite the mounting challenges in the Pacific region and its involvement in conflicts in the Middle East – it had to invest more in European security. The US has stepped up the intensity of joint drills with the allies and the activities of its forces in Europe. However, its support for the allies has been subject to various limitations and should be treated as a political signal to Moscow, rather than an element in a broader strategy. The future of the policy of strengthening the eastern flank will depend on the outcome of the US presidential elections in November and on developments in the bilateral relations between Washington and Moscow.

Should energy efficiency be traded off for other product attributes? : an analysis of air-conditioner regulation in Japan

This paper examines the functioning of energy efficiency standards and labeling policies for air conditioners in Japan. The results of our empirical analysis suggest that consumers respond more to label information, which benchmarks the energy efficiency performance of each product to a pre-specified target, than to direct performance measures. This finding provides justification for the setting, and regular updating, of target standards as well as their use in calculating relative performance measures. We also find, through graphical analysis, that air conditioner manufacturers face a tradeoff between energy efficiency and product compactness when they develop their products. This tradeoff, combined with the semi-regular upward revision of minimum energy efficiency standards, has led to the growth in indoor unit size of air conditioners in recent years. In the face of this phenomenon, regulatory rules were revised so that manufacturers could adhere to less stringent standards if the indoor unit size of their product remains below a certain size. Our demand estimates provide no evidence that larger indoor unit size causes disutility to consumers. It is therefore possible that the regulatory change was not warranted from a consumer welfare point of view.

FHWA study tour for highway safety management practices in Japan, Australia, and New Zealand.

Mode of access: Internet.

Shadow over Asia : the rise of militant Japan /

"Suggested reading": p. 95.

Hearing on H.R. 2504 [microform] : to withdraw certain public lands in Eddy County, New Mexico : before the Procurement and Military Nuclear Systems Subcommittee of the Committee on Armed Services, House of Representatives, One Hundredth Congress, second session, hearing held September 8, 1988.

At head of title: H.A.S.C. no. 100-85.

Safety applications of intelligent transportation systems in Europe and Japan.

"HPIP/I-06(3.5)EW"--Back cover.

The Clinton administration's policy on reforming multinational peace operations.

Mode of access: Internet.

Mutual security act of 1951 : hearings before the Committee on Foreign Relations and the Committee on Armed Services, United States Senate, Eighty-second Congress, first session, on S. 1762, a bill to promote the foreign policy and provide for the defense and general welfare of the United States by furnishing assistance to friendly nations in the interest of international security.

Hearings held: July 26-Aug. 9, 1951.

Recent advances in medicine and surgery (19-30 April 1954) based on professional medical experiences in Japan and Korea, 1950-1953.

Includes bibliographies.

Second to none : preserving America's military advantage through dual-use technology /

"February 1995."

The military history of World War II.

Vols. 1-2 have title: The first book military history of World War II.

Export of frigate engines to Iraq [microform] : hearing before the Subcommittees on Europe and the Middle East and on International Economic Policy and Trade of the Committee on Foreign Affairs, House of Representatives, Ninety-sixth Congress, second session, May 14, 1980.

CIS Microfiche Accession Numbers: CIS 81 H381-41

United States-Japan Structural Impediments Initiative (SII) : hearings before the Subcommittee on International Trade of the Committee on Finance, United States Senate, One Hundred First Congress, first session.

Item 1038-A, 1038-B (MF)