Discretion and Accountability: The ESMA Judgment and the Meroni Doctrine. Bruges European Economic Research (BEER) Papers 30/2014

This paper assesses the effectiveness of the Meroni doctrine in the light of the recent judgment in the ESMA case. The first part explains in detail the problem of delegation of powers in the EU from the perspective of the principal-agent theory and complements it with the analysis of the trade-off between different levels of independence and accountability of agencies. A simple economic model is developed to illustrated the relationship between the independence and accountability of an agency. It shows that it is the accountability mechanism that induces the agent to act, rather than the extent of his independence. The paper also explains the inter-temporal interactions between the principal and the agent on the basis of the incentives in place for the different players. The second part is devoted to analysis of the functioning of ESMA in the context of its delegated powers. After the presentation of main aspects of the regulatory framework establishing ESMA, the paper continuous with an analysis and interpretation of the discretionary powers of ESMA. The rather rigid position of the Court of Justice in relation to the Meroni doctrine seems to be unsuitable to delegation of complex regulatory tasks. This is particularly evident in the case of financial markets. Finally, the judgment does not examine in any detail whether and how the principals - i.e. the EU and Member States - are best able to evaluate the quality of ESMA decisions and regulations and whether there are different but more effective accountability mechanisms.

Occupational employment survey booklet of definitions : miscellaneous manufacturing industries.

"BLS-2877 239."

Economic diversification [microform] : hearing before the Subcommittee on Economic Stabilization of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, first session, June 13, 1989.

"Serial no. 101-36."

Industrial uses of isotopes, chemical reaction mechanisms and kinetics, and radiochemistry : a selected list of references /

This bibliography contains 417 annotated references on uses of isotopes in industry and in chemical reaction mechanisms and kinetics. The references were taken from the 1957-1958 open literature. Also included are a list of journals from which the references were selected, an author index, an isotope index, and a graphical depiction of typical applications.

Fatigue of workers, its relation to industrial production,

Report of the Committee by George C. Homans

Electric transmission of power for mill work.

Cover-title.

Treatise on analytical chemistry.

Publisher varies: 1961-68, Interscience Publishers; 1971- Wiley-Interscience and Wiley (an Interscience publication).

Utility diversification : a staff report.

Sunset project manager : Terry H. Stoica.

ESA special report series /

On p. [1] of no. 1: November, 1957

Education pamphlets

A collection of miscellaneous pamphlets.

Before the United States Railroad Labor Board; exhibit ...

[1] The development of collection bargaining on a national basis.--[2] Industrial relations on railroads prior to 1917.--[3] The sanction of the eight-hour day.--[4] Seniority rules of the national agreement.--[5] The recognition of human standards in industry.--[6] Human standards and railroad policy.--[7] Railroad boards of labor adjustment.--[8] Punitive overtime.--[9] Rules prior to national agreement.--[10] Occupation hazard of railway shopmen.--[11] The work of the railway carmen.--[12] The unity of the American railway system.--[13-16] Inadequacies of railway management, part I-IV.--[17] Specific cases cited by Mr. Whiter, and employees' rebuttal.--[18] Standardization.--[19] The problem of piece work.

Bulletin /

Some issues have title: Bulletin of the Women's Bureau (varies slightly); some have title: Women's Bureau bulletin.

A preform design method for sheet superplastic bulging with finite element modeling

Superplastic bulging is the most successful application of superplastic forming (SPF) in industry, but the non-uniform wall thickness distribution of parts formed by it is a common technical problem yet to be overcome. Based on a rigid-viscoplastic finite element program developed by the authors, for simulation of the sheet superplastic forming process combined with the prediction of microstructure variations (such as grain growth and cavity growth), a simple and efficient preform design method is proposed and applied to the design of preform mould for manufacturing parts with uniform wall thickness. Examples of formed parts are presented here to demonstrate that the technology can be used to improve the uniformity of wall thickness to meet practical requirements. (C) 2004 Elsevier B.V. All rights reserved.

Endocrine-disrupting compounds: A review of their challenge to sustainable and safe water supply and water reuse

The relevance of endocrine-disrupting compounds as potential contaminants of drinking water is reviewed, particularly in the reuse of wastewater. Growing populations and increasing intensification of land and water use for industry and agriculture have increased the need to reclaim wastewater for reuse, including to supplement the drinking water supply. The variety of anthropogenic chemicals that have been identified as potential endocrine disruptors in the environment and the problems arising from their use as human and livestock pharmaceuticals, as agricultural chemicals and in industry are discussed. The potentially adverse impact of these chemicals on human health and the ecology of the natural environment are reviewed. Data for the removal of estrogenic compounds from wastewater treatment are presented, together with the comparative potencies of estrogenic compounds. The relative exposure to estrogens of women on oral contraceptives, hormone replacement therapy, and through food consumption is estimated. A brief overview of some methods available or under development for the assessment of estrogenic activity in environmental samples is provided. The review concludes with a discussion of the directions for further investigation, which include human epidemiology, methodology development, and wastewater monitoring. (C) 2006 Wiley Periodicals, Inc.