Defining Europe's Capital Markets Union. Bruegel Policy Contribution Issue 2014/12, 13 November 2014

The new European Commission has signalled that it will work to create a ‘capital markets union’. This is understood as an agenda to expand the non-bank part of Europe’s financial system, which is currently underdeveloped. The aim in the short term is to unlock credit provision as banks are deleveraging, and in the longer term, to favour a more diverse, competitive and resilient financial system. Direct regulation of individual non-bank market segments (such as securitisation, private placements or private equity) might be useful at the margin, but will not per se lead to significant capital markets development or the rebalancing of Europe’s financial system away from the current dominance by banks. To reach these goals, the capital markets union agenda must be broadened to address the framework conditions for the development of individual market segments. Six possible areas for policy initiative are, in increasing order of potential impact and political difficulty: regulation of securities and specific forms of intermediation; prudential regulation, especially of insurance companies and pension funds; regulation of accounting, auditing and financial transparency requirements that apply to companies that seek external finance; a supervisory framework for financial infrastructure firms, such as central counterparties, that supports market integration; partial harmonisation and improvement of insolvency and corporate restructuring frameworks;and partial harmonisation or convergence of tax policies that specifically affect financial investment.

Social Capital and Individual Happiness in Europe. Bruges European Economic Research (BEER) Papers 25/December 2012

This paper explores the relationship between social capital and happiness both in Europe as a whole, as well as in its four main geographical macro-regions – North, South, East and West – separately. We test the hypothesis of whether social capital, in its three-fold definition established by Coleman (1988) – trust, social interaction, and norms and sanctions – influences individual happiness across European countries and regions. The concept of social capital is further enriched by incorporating Putnam- (1993) and Olson- (1982) type variables on associational activity. Using ordinal logistic regression analysis on data for 48,583 individuals from 25 European countries, we reach three main findings. First, social capital matters for happiness across the three dimensions considered. Second, the main drivers of the effects of social capital on happiness appear to be informal social interaction and general social, as well as institutional trust. And third, there are significant differences in how social capital interacts with happiness across different areas of Europe, with the connection being at is weakest in the Nordic countries.

A gestão de recursos humanos e o desempenho individual

O presente estudo analisou a relação entre a percepção do sistema de práticas de recursos humanos e a percepção de desempenho individual, bem como o papel do compromisso afectivo, enquanto variável mediadora desta relação. Mais especificamente, tendo como referência o modelo de gestão de recursos humanos de Guest, avaliou-se se a percepção que os trabalhadores tinham do sistema de práticas de recursos humanos estava associada à sua percepção de desempenho individual, bem como se o compromisso afectivo, enquanto ligação sócio-emocional que os trabalhadores estabelecem com a sua organização, poderia desenvolver-se como resposta afectiva à percepção do sistema de gestão de recursos humanos e, deste modo, contribuir para explicar a percepção do desempenho individual. As hipóteses foram testadas com modelos de equações estruturais numa amostra de 1885 trabalhadores de uma empresa do sector da banca que responderam a um questionário on-line. Os resultados demonstraram que, tal como esperado, a percepção do sistema de gestão de recursos humanos estava positivamente associada à percepção de desempenho individual e que esta relação era parcialmente mediada pelo compromisso afectivo. No seu conjunto, os resultados deste estudo apontam alguns dos benefícios de uma gestão estratégica de recursos humanos centrada no compromisso dos trabalhadores, sendo discutidas diversas implicações para a gestão de recursos humanos.

Individual and group level trajectories of behavioural development in Border collies.

In order to assess dogs’ personality changes during ontogeny, a cohort of 69 Border collies was followed up from six to 18–24 months. When the dogs were 6, 12, and 18–24 months old, their owners repeatedly filled in a dog personality questionnaire (DPQ), which yielded five personality factors divided into fifteen facets. All five DPQ factors were highly correlated between the three age classes, indicating that the dogs’ personality remained consistent relative to other individuals. Nonetheless, at the group level significant changes with age were found for four of the five DPQ factors. Fearfulness, Aggression towards People, Responsiveness to Training and Aggression towards Animals increased with age; only Activity/Excitability did not change significantly over time. These changes in DPQ factor scores occurred mainly between the ages of 6 and 12 months, although some facets changed beyond this age. No sex differences were found for any of the tested factors or facets, suggesting that individual variation in personality was greater than male/female differences. There were significant litter effects for the factors Fearfulness, Aggression towards People and Activity/Excitability, indicating either a strong genetic basis for these traits or a high influence of the shared early environment. To conclude, from the age of six months, consistency in personality relative to other individuals can be observed in Border collies. However, at the group level, increases in fearful and aggressive behaviours occur up to 12 months and for some traits up to two years, highlighting the need for early interventions. Follow-up studies are needed to assess trajectories of personality development prior to six months and after two years, and to include a wider variety of breeds.

Magnesium concentrations of individual shells of Globorotalia truncatulinoides

Recent work has provided useful Mg/Ca to water temperature calibrations for shallow-dwelling planktonic foraminifer species. Globorotalia truncatulinoides (right coiling (R)) is a deep-dwelling species that can serve as a source of information about the temporal variability in the water characteristics of the thermocline. We present a temperature calibration for the Mg/Ca in the shell of G. truncatulinoides (R) and examine some of the practical issues associated with evaluating the usefulness of the technique. The Mg/Ca in the primary and the secondary calcite of individual G. truncatulinoides (R) correlates exponentially with water column temperatures, showing a change of ~10% in the Mg/Ca per 1°C (R**2 = 0.92). A limited comparison with plankton tow samples demonstrates that the average Mg/Ca temperature was offset +1°C from the average temperature calculated using the d18O calibration of O'Neil et al. (1969, doi:10.1063/1.1671982), and the Mg/Ca temperatures have a range similar to the ?18O temperatures. Comparisons of the [Mg] in the core top samples to water depth of deposition indicates that dissolution does not alter the measured value of Mg in the primary calcite.

Global compilation of chlorophyll fluorescence profiles from several data bases, and from published and unpublished individual sources

The present data set includes 268,127 vertical in situ fluorescence profiles obtained from several available online databases and from published and unpublished individual sources. Metadata about each profiles are given in the file provided here in further details. The majority of profiles comes from the National Oceanographic Data Center (NODC) and the fluorescence profiles acquired by Bio-Argo floats available on the Oceanographic Autonomous Observations (OAO) platform (63.7% and 12.5% respectively). Different modes of acquisition were used to collect the data presented in this study: (1) CTD profiles are acquired using a fluorometer mounted on a CTD-rosette; (2) OSD (Ocean Station Data) profiles are derived from water samples and are defined as low resolution profiles; (3) the UOR (Undulating Oceanographic Recorder) profiles are acquired by a equipped with a fluorometer and towed by a research vessel; (4) PA profiles are acquired by autonomous platforms (here profiling floats or elephant seals equipped with a fluorometer). Data acquired from gliders are not included in the compilation.

El gran poeta peruano (lectura hecha en la velada que tuvo lugar en el Ateneo de Lima el 12 de febrero de 1900)

Mode of access: Internet.

Informes de las Comisiones Mixtas Peruano-Brasileras Encargadas del Reconocimiento de los Ríos Alto Purús i Alto Yuruá : de conformidad con el acuerdo provisional de Rio Janeiro de 12 de julio de 1904.

At head of title: Archivo especial de límites.

"Estatutos de la Compañía de Minas de la Blanca y Anexas," Sociedad Anónima : reformados con fundamento de los acuerdos tomados por la Asamblea General Extraordinaria de Accionistas celebrada el 12 de junio de 1912, y su sesión correlativa de Consejo de 12 de julio de 1912, Pachuca.

Mode of access: Internet.

Bibliotheca mexicana: or, A catalogue of the library of rare books and important manuscripts relating to Mexico and other parts of Spanish America, formed by the late Señor Don José Fernando Ramirez ...days of sale ...July [7-9, 12-13, 1880] ...sold ...by Puttick and Simpson ...

Mode of access: Internet.

Guidelines for a K-12 traffic safety education curriculum. Volume I: procedures and findings. Final report.

National Highway Traffic Safety Administration, Washington, D.C.

Guidelines for a K-12 traffic safety education curriculum. Volume II: curriculum content and instructional approach. Final report.

National Highway Traffic Safety Administration, Washington, D.C.

Conferencia de la Educación Chicana : Cristal, Texas, febrero 11-12, 1973 /

Includes bibliographical references.

Recenseamento realizado em 12 de outubro de 1913,

Mode of access: Internet.