986 resultados para faillite, special purpose vehicle, Pfandbrief, asset-backed securities, investment fund


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This strategy paper focuses on making the most of the EU single market. The EU should pursue a genuine single market, and treat it as a common asset of all its citizens, economic operators and member states. The economic case to be made on behalf of the genuine single market is powerful and even more so due to the findings of recent empirical economic research. However, only the genuine single market can realise the expectations of such large gains. Weak, ‘feasible’ action plans cannot! The strategy is based, first of all, on a clear design of the genuine single market and subsequently concentrates on ‘what it takes’. Ten types of actions sum up ‘what it takes’: five at the EU level, four at the EU-member state interface, and finally, the realisation of legitimacy and acceptance.

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In a globalised world, knowledge of foreign languages is an important skill. Especially in Europe, with its 24 official languages and its countless regional and minority languages, foreign language skills are a key asset in the labour market. Earlier research shows that over half of the EU27 population is able to speak at least one foreign language, but there is substantial national variation. This study is devoted to a group of countries known as the Visegrad Four, which comprises the Czech Republic, Hungary, Poland and Slovakia. Although the supply of foreign language skills in these countries appears to be well-documented, less is known about the demand side. In this study, we therefore examine the demand for foreign language skills on the Visegrad labour markets, using information extracted from online job portals. We find that English is the most requested foreign language in the region, and the demand for English language skills appears to go up as occupations become increasingly complex. Despite the cultural, historical and economic ties with their German-speaking neighbours, German is the second-most-in-demand foreign language in the region. Interestingly, in this case there is no clear link with the complexity of an occupation. Other languages, such as French, Spanish and Russian, are hardly requested. These findings have important policy implications with regards to the education and training offered in schools, universities and job centres.

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This paper estimates the immediate impact of the European Central Bank’s asset purchase programmes on sovereign bond spreads in the euro area between 2008 and 2015 using a country-by-country GARCH model. The baseline estimates are rigorously diagnosed for misspecification and subjected to a wide range of sensitivity tests. Among others, changes in the dependent variable, the independent variables and the number of (G)ARCH terms are tested. Moreover, the model is applied to subsamples and dynamic conditional correlations are analyzed to estimate the effects of the asset purchases on the contagion of spread movements. Generally, it is found that the asset purchase programmes triggered an reduction of sovereign bond spreads. More specifically, the Securities Markets Programme (SMP) had the most significant immediate effects on sovereign bond spreads across the euro area. The announcements related to the Outright Monetary Transactions (OMT) programme also yielded substantial spread compression in the periphery. In contrast to that, the most recent Public Sector Purchase Programme (PSPP) announced in January 2015 and implemented since March 2015 had no significant immediate effects on sovereign bond spreads, except for Irish spreads. Hence, immediate effects seem to be dependent upon the size of the programme, the extent to which it targets distressed sovereigns and the way in which it is communicated.

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The adoption of the Paris Agreement at the end of 2015 and the EU’s intended nationally determined contribution (INDC) have confirmed the EU’s commitment to achieve decarbonisation by 2050. Transport accounts for about a quarter of EU greenhouse gas (GHG) emissions, representing the second-largest source of GHG emissions in Europe after the energy sector. The transport sector will play a significant role in the EU’s efforts to decarbonise its economy in line with its international commitments. The purpose of this report is to examine different EU policy options to address transport emissions, with a special emphasis on passenger cars. It ‘thinks through’ the options that are currently assessed in the EU and considers how they could be put together in a comprehensive framework. The report concludes with a number of measures to lead EU transport decarbonisation policy. A distinction is made between i) no-regret options and ii) measures for consideration.

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Federal Highway Administration, Highway Statistics Division, Washington, D.C.

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"Reprint from the Code of Virginia of 1950 and the 1952 cumulative supplement."

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Transportation Department, Research and Special Programs Administration, Washington, D.C.

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Urban Mass Transportation Administration, Washington, D.C.

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Mode of access: Internet.

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Authors: Richard F. Pain et al.

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"Issued May 1981."

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Over the last two years, Governor Blagojevich and the Illinois General Assembly have enacted a number of laws to reduce the health risks associated with the use and disposal of consumer, household and commercial products that contain mercury. These products include thermometers, switches, electrical relays and scientific instruments used in schools. The purpose of these laws is to reduce mercury releases into the environment. Mercury is a strong neurotoxin that can be harmful to the health of humans and wildlife. Mercury exposure poses a particular risk to young children and pregnant women because mercury may inhibit the development of the brain and nervous system. This report presents recommendations for improving efforts to reduce and recycle mercury components that are found in thermostats and motor vehicles. Illinois EPA prepared the report in response to Public Act 93-0964. In drafting the report, Illinois EPA conducted research on mercury reduction and recycling programs in other states, reviewed technical studies and consulted with officials in the private and public sectors.

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"September 10, 1982."