The Impact of Recycling on the Long-Run Stock of Trees

Interest in recycling of forest products has grown in recent years, one of the goals being to conserve the stock of trees or possibly increase it to compensate for positive externalities generated by the forest and neglected by the market. This paper explores the issue as to whether recycling is an appropriate measure to attain such a goal. We do this by considering the problem of the private owner of an area of land, who, acting as a price taker, decides how to allocate his land over time between forestry and some other use, and at what age to harvest the forest area chosen. Once the forest is cut, he makes a new land allocation decision and replants. He does so indefinitely, in a Faustmann-like framework. The wood from the harvest is transformed into a final product which is partly recycled into a substitute for the virgin wood, so that past output affects the current price. We show that in such a context, increasing the rate of recycling will result in less area being devoted to forestry. It will also have the effect of increasing the harvest age of the forest, as long as the planting cost is positive. The net effect on the flow of virgin wood being harvested to supply the market will as a result be ambiguous. The main point however is that recycling will result in a smaller, not a larger, stock of trees in the long run. It would therefore be best to resort to other means if the goal is to increase the stock of trees.

Justice pour les crimes contre l’humanité et génocides : point de vue et attentes des victimes

Les violations aux droits humains causent des milliers de victimes chaque année, des mécanismes de justice sont élaborés afin de répondre à ces crimes, mais les victimes demeurent peu consultées. Par le biais d’entretiens semi-directifs, cette étude présente le point de vue et les attentes des victimes de crimes contre l’humanité du Cambodge et du Rwanda sur la justice. La justice sociale constitue le cadre théorique de cette étude. Les résultats montrent que la justice pénale est centrale à la définition de la justice. La réparation et la vérité en constituent aussi les éléments essentiels. Toutefois, la capacité des tribunaux à rendre compte de la vérité est critiquée par les répondants créant un écart entre ce qu’elles veulent et ce qu’elles obtiennent. La qualité de la prise de décision et du traitement interpersonnel favorise aussi la perception de justice du point de vue des victimes. Les différentes composantes de la justice perçues, comme la punition, la réparation et la procédure, varient toutefois en fonction du contexte social et historique de la victimisation.

The Systematics, Distribution and Bionomics of Deep sea fishes beyond depth 200m along the South west coast of India

Reducing fishing pressure in coastal waters is the need of the day in the Indian marine fisheries sector of the country which is fast changing from a mere vocational activity to a capital intensive industry. It requires continuous monitoring of the resource exploitation through a scientifically acceptable methodology, data on production of each species stock, the number and characteristics of the fishing gears of the fleet, various biological characteristics of each stock, the impact of fishing on the environment and the role of fishery—independent on availability and abundance. Besides this, there are issues relating to capabilities in stock assessment, taxonomy research, biodiversity, conservation and fisheries management. Generation of reliable data base over a fixed time frame, their analysis and interpretation are necessary before drawing conclusions on the stock size, maximum sustainable yield, maximum economic yield and to further implement various fishing regulatory measures. India being a signatory to several treaties and conventions, is obliged to carry out assessments of the exploited stocks and manage them at sustainable levels. Besides, the nation is bound by its obligation of protein food security to people and livelihood security to those engaged in marine fishing related activities. Also, there are regional variabilities in fishing technology and fishery resources. All these make it mandatory for India to continue and strengthen its marine capture fisheries research in general and deep sea fisheries in particular. Against this background, an attempt is made to strengthen the deep sea fish biodiversity and also to generate data on the distribution, abundance, catch per unit effort of fishery resources available beyond 200 m in the EEZ of southwest coast ofIndia and also unravel some of the aspects of life history traits of potentially important non conventional fish species inhabiting in the depth beyond 200 m. This study was carried out as part of the Project on Stock Assessment and Biology of Deep Sea Fishes of Indian EEZ (MoES, Govt. of India).

3D Analysis of the TCR/pMHCII Complex Formation in Monkeys Vaccinated with the First Peptide Inducing Sterilizing Immunity against Human Malaria

T-cell receptor gene rearrangements were studied in Aotus monkeys developing high antibody titers and sterilizing immunity against the Plasmodium falciparum malaria parasite upon vaccination with the modified synthetic peptide 24112, which was identified in the Merozoite Surface Protein 2 (MSP-2) and is known to bind to HLA-DR beta 1*0403 molecules with high capacity. Spectratyping analysis showed a preferential usage of V beta 12 and V beta 6 TCR gene families in 67% of HLA-DR beta 1*0403-like genotyped monkeys. Docking of peptide 24112 into the HLA-DR beta 1*0401-HA peptide-HA1.7TCR complex containing the VDJ rearrangements identified in fully protected monkeys showed a different structural signature compared to nonprotected monkeys. These striking results show the exquisite specificity of the TCR/pMHCII complex formation needed for inducing sterilizing immunity and provide important hints for a logical and rational methodology to develop multiepitopic, minimal subunit-based synthetic vaccines against infectious diseases, among them malaria.

Towards an understanding of “crimes againsthumanity” since Nuremberg

This article makes an historical analysis of the manner in which crimes againsthumanity have acquired an independent status from crimes of war and aggressionever since the concept was first introduced in discussions between the Allies duringthe establishment of the International Military Tribunal at Nuremberg. It describes themanner in which the concept has evolved and been discussed in several internationalbodies, and how it was finally included in the Rome Statute of the International CriminalCourt. The article shows how the Nuremberg trials have a fundamental legaland historical meaning in that they institutionalized individual responsibility for anew category of crimes before an international tribunal. It also shows how after theNuremberg trials, crimes against humanity have been gradually withdrawn fromthe competency of government sovereignty to become a matter for the internationalcommunity of nations.

Testing for Stock Market Integration in a Developing Economy: Colombia

This paper examines the linkage between two parallel stock exchanges trading the same shares in Colombia, namely the Bogotá Stock Exchange and the Medellín Stock Exchange. We provide empirical evidence to support the hypothesis that these two markets can be best described as fully integrated over a period of almost four decades, which is consistent with the view that arbitrage opportunities are only possible in the short but not in the long run. In addition, we find evide

The genome strikes back: The evolutionary importance of defence against mobile elements

Increasingly, we regard the genome as a site and source of genetic conflict. This fascinating 'bottom-up' view brings up appealing connections between genome biology and whole-organism ecology, in which populations of elements compete with one another in their genomic habitat. Unlike other habitats, though, a host genome has its own evolutionary interests and is often able to defend itself against molecular parasites. Most well-studied organisms employ strategies to protect their genomes against the harmful effects of genomic parasites, including methylation, various pathways of RNA interference, and more unusual tricks such as repeat induced point-mutation (RIP). These genome defence systems are not obscure biological curiosities, but fundamentally important to the integrity and cohesion of the genome, and exert a powerful influence on genome evolution.

Vertical heat transports in the ocean and their effect on time-dependent climate change

In response to increasing atmospheric con- centrations of greenhouse gases, the rate of time- dependent climate change is determined jointly by the strength of climate feedbacks and the e�ciency of pro- cesses which remove heat from the surface into the deep ocean. This work examines the vertical heat transport processes in the ocean of the HADCM2 atmosphere± ocean general circulation model (AOGCM) in experi- ments with CO2 held constant (control) and increasing at 1% per year (anomaly). The control experiment shows that global average heat exchanges between the upper and lower ocean are dominated by the Southern Ocean, where heat is pumped downwards by the wind- driven circulation and di�uses upwards along sloping isopycnals. This is the reverse of the low-latitude balance used in upwelling±di�usion ocean models, the global average upward di�usive transport being against the temperature gradient. In the anomaly experiment, weakened convection at high latitudes leads to reduced diffusive and convective heat loss from the deep ocean, and hence to net heat uptake, since the advective heat input is less a�ected. Reduction of deep water produc- tion at high latitudes results in reduced upwelling of cold water at low latitudes, giving a further contribution to net heat uptake. On the global average, high-latitude processes thus have a controlling in¯uence. The impor- tant role of di�usion highlights the need to ensure that the schemes employed in AOGCMs give an accurate representation of the relevant sub-grid-scale processes.

Speculative bubbles and the cross-sectional variation in stock returns

Evidence suggests that rational, periodically collapsing speculative bubbles may be pervasive in stock markets globally, but there is no research that considers them at the individual stock level. In this study we develop and test an empirical asset pricing model that allows for speculative bubbles to affect stock returns. We show that stocks incorporating larger bubbles yield higher returns. The bubble deviation, at the stock level as opposed to the industry or market level, is a priced source of risk that is separate from the standard market risk, size and value factors. We demonstrate that much of the common variation in stock returns that can be attributable to market risk is due to the co-movement of bubbles rather than being driven by fundamentals.

Efficacy of condensed tannins against larval Hymenolepis diminuta (Cestoda) in vitro and in the intermediate host Tenebrio molitor (Coleoptera) in vivo

Natural anti-parasitic compounds in plants such as condensed tannins (CT) have anthelmintic properties against a range of gastrointestinal nematodes, but for other helminths such effects are unexplored. The aim of this study was to assess the effects of CT from three different plant extracts in a model system employing the rat tapeworm, Hymenolepis diminuta, in its intermediate host, Tenebrio molitor. An in vitro study examined infectivity of H. diminuta cysticercoids (excystation success) isolated from infected beetles exposed to different concentrations of CT extracts from pine bark (PB) (Pinus sps), hazelnut pericarp (HN) (Corylus avellana) or white clover flowers (WC) (Trifolium repens), in comparison with the anthelmintic drug praziquantel (positive control). In the in vitro study, praziquantel and CT from all three plant extracts had dose-dependent inhibitory effects on cysticercoid excystation. The HN extract was most effective at inhibiting excystation, followed by PB and WC. An in vivo study was carried out on infected beetles (measured as cysticercoid establishment) fed different doses of PB, HN and praziquantel. There was a highly significant inhibitory effect of HN on cysticercoid development (p = 0.0002). Overall, CT showed a promising anti-cestodal effect against the metacestode stage of H. diminuta.

Beyond the environmentalist's paradox and the debate on weak versus strong sustainability

Environmentalists generally argue that ecological damage will (eventually) lead to declines in human well-being. From this perspective, the recent introduction of the “environmentalist’s paradox” in BioScience by Raudsepp-Hearne and colleagues (2010) is particularly significant. In essence, Raudsepp-Hearne and colleagues (2010) claimed that although ecosystem services have been degraded, human well-being—paradoxically—has increased. In this article, we show that this debate is in fact rooted in a broader discussion on weak sustainability versus strong sustainability(the substitutability of human-made capital for natural capital). We warn against the reductive nature of focusing only on a stock–flow framework in which a natural-capital stock produces ecosystem services. Concretely, we recommend a holistic approach in which the complexity, irreversibility, uncertainty, and ethical predicaments intrinsic to the natural environment and its connections to humanity are also considered.

Online dietary intake estimation : reproducibility and validity of the Food4Me food frequency questionnaire against a 4-day weighed food record

Background: Advances in nutritional assessment are continuing to embrace developments in computer technology. The online Food4Me food frequency questionnaire (FFQ) was created as an electronic system for the collection of nutrient intake data. To ensure its accuracy in assessing both nutrient and food group intake, further validation against data obtained using a reliable, but independent, instrument and assessment of its reproducibility are required. Objective: The aim was to assess the reproducibility and validity of the Food4Me FFQ against a 4-day weighed food record (WFR). Methods: Reproducibility of the Food4Me FFQ was assessed using test-retest methodology by asking participants to complete the FFQ on 2 occasions 4 weeks apart. To assess the validity of the Food4Me FFQ against the 4-day WFR, half the participants were also asked to complete a 4-day WFR 1 week after the first administration of the Food4Me FFQ. Level of agreement between nutrient and food group intakes estimated by the repeated Food4Me FFQ and the Food4Me FFQ and 4-day WFR were evaluated using Bland-Altman methodology and classification into quartiles of daily intake. Crude unadjusted correlation coefficients were also calculated for nutrient and food group intakes. Results: In total, 100 people participated in the assessment of reproducibility (mean age 32, SD 12 years), and 49 of these (mean age 27, SD 8 years) also took part in the assessment of validity. Crude unadjusted correlations for repeated Food4Me FFQ ranged from .65 (vitamin D) to .90 (alcohol). The mean cross-classification into “exact agreement plus adjacent” was 92% for both nutrient and food group intakes, and Bland-Altman plots showed good agreement for energy-adjusted macronutrient intakes. Agreement between the Food4Me FFQ and 4-day WFR varied, with crude unadjusted correlations ranging from .23 (vitamin D) to .65 (protein, % total energy) for nutrient intakes and .11 (soups, sauces and miscellaneous foods) to .73 (yogurts) for food group intake. The mean cross-classification into “exact agreement plus adjacent” was 80% and 78% for nutrient and food group intake, respectively. There were no significant differences between energy intakes estimated using the Food4Me FFQ and 4-day WFR, and Bland-Altman plots showed good agreement for both energy and energy-controlled nutrient intakes. Conclusions: The results demonstrate that the online Food4Me FFQ is reproducible for assessing nutrient and food group intake and has moderate agreement with the 4-day WFR for assessing energy and energy-adjusted nutrient intakes. The Food4Me FFQ is a suitable online tool for assessing dietary intake in healthy adults.

The financial and environmental performance of firms exposed to the EU Emissions Trading Scheme

This thesis is an empirical-based study of the European Union’s Emissions Trading Scheme (EU ETS) and its implications in terms of corporate environmental and financial performance. The novelty of this study includes the extended scope of the data coverage, as most previous studies have examined only the power sector. The use of verified emissions data of ETS-regulated firms as the environmental compliance measure and as the potential differentiating criteria that concern the valuation of EU ETS-exposed firms in the stock market is also an original aspect of this study. The study begins in Chapter 2 by introducing the background information on the emission trading system (ETS), which focuses on (i) the adoption of ETS as an environmental management instrument and (ii) the adoption of ETS by the European Union as one of its central climate policies. Chapter 3 surveys four databases that provide carbon emissions data in order to determine the most suitable source of the data to be used in the later empirical chapters. The first empirical chapter, which is also Chapter 4 of this thesis, investigates the determinants of the emissions compliance performance of the EU ETS-exposed firms through constructing the best possible performance ratio from verified emissions data and self-configuring models for a panel regression analysis. Chapter 5 examines the impacts on the EU ETS-exposed firms in terms of their equity valuation with customised portfolios and multi-factor market models. The research design takes into account the emissions allowance (EUA) price as an additional factor, as it has the most direct association with the EU ETS to control for the exposure. The final empirical Chapter 6 takes the investigation one step further, by specifically testing the degree of ETS exposure facing different sectors with sector-based portfolios and an extended multi-factor market model. The findings from the emissions performance ratio analysis show that the business model of firms significantly influences emissions compliance, as the capital intensity has a positive association with the increasing emissions-to-emissions cap ratio. Furthermore, different sectors show different degrees of sensitivity towards the determining factors. The production factor influences the performance ratio of the Utilities sector, but not the Energy or Materials sectors. The results show that the capital intensity has a more profound influence on the utilities sector than on the materials sector. With regard to the financial performance impact, ETS-exposed firms as aggregate portfolios experienced a substantial underperformance during the 2001–2004 period, but not in the operating period of 2005–2011. The results of the sector-based portfolios show again the differentiating effect of the EU ETS on sectors, as one sector is priced indifferently against its benchmark, three sectors see a constant underperformance, and three sectors have altered outcomes.

Inimigos públicos: crimes corporativos e necrocorporações

As corporações estão presentes em todos os lugares e em quase todos os aspectos de nossas vidas, porém, elas podem ser perigosas para a sociedade, protagonizando ações com impactos negativos para consumidores, trabalhadores, meio ambiente e comunidades. Nesta tese, lançamos nosso olhar sobre o lado sombrio das corporações, explorando dois crimes corporativos cometidos no Brasil por duas corporações transnacionais da indústria química, uma indústria predominada por grandes corporações operando em forma de oligopólios, dentro de um setor altamente estratégico por produzir insumos para a produção da maioria dos bens de consumo. Nosso objetivo é compreender os crimes corporativos para além da perspectiva funcionalista predominante na literatura sobre o tema. Para tanto, realizamos uma pesquisa qualitativa, com base na perspectiva crítica, focalizando dois casos ocorridos há mais de quatro décadas, no Brasil. Para reunir material empírico, entrevistamos ex-trabalhadores e trabalhadores das corporações protagonistas dos crimes, ex-moradores da comunidade atingida pelos crimes e especialistas, como advogados e profissionais da saúde, que se envolveram nos casos. As entrevistas foram do tipo narrativa, tendo sido gravadas e, posteriormente, transcritas para análise. Além das entrevistas, reunimos diversos documentos sobre os casos, como a cobertura jornalística, relatórios técnicos, sentenças e acórdãos. Analisamos o material empírico buscando reconhecer que os crimes corporativos ocorreram como uma extensão das organizações e de seu modo de organizar, e não como infortúnio ou efeitos colaterais não intencionais. Como principais resultados, desenvolvemos os conceitos de necrocorporação e crimes corporativos contra a vida. Nossa análise estendeu-se sobre as articulações engendradas pelas corporações; a produção da morte; e o poder, o consentimento e a resistência. Em ambos os casos analisados, os crimes foram cometidos na busca pelos objetivos corporativos, provocando a morte e doenças, bem como outros danos irreversíveis ao meio ambiente e à comunidade. Nossos resultados apontam para a necessidade de uma mudança no modo de pensar quanto às relações entre governos, sociedade e corporações, iniciando-se pela dissolução desse modelo de organização de negócios.

Toward convergence? The brazilian stock market concentration and the role of private equity in its diversification

Using quantitative data obtained from public available database, this paper discusses the difference between of the Brazilian GDP and the Brazilian Stock Exchange industry breakdown. I examined if, and to what extent, the industry breakdowns are similar. First, I found out that the Stock Exchange industry breakdown is overwhelming different from the GDP, which may present a potential problem to asset allocation and portfolio diversification in Brazil. Second, I identified an important evidence of a convergence between the GDP and the Stock Exchange in the last 9 years. Third, it became clear that the Privatizations in the late 90’s and IPO market from 2004 to 2008 change the dynamics of the Brazilian Stock Exchange. And fourth, I identified that Private Equity and Venture Capital industry may play an important role on the portfolio diversification in Brazil.