Carbon Market Provisions in the Paris Agreement (Article 6). CEPS Special Report No. 128/January 2016

The markets provisions, contained in Article 6 of the Paris Agreement adopted in December 2015, can be seen as both a major success and a minor miracle. Throughout 2015, and during COP21 itself, the prediction was for a very small reference to anything related to markets, or possibly even the total omission of any such reference in the text. As predicted, the markets/non-markets text in Article 6 of the Paris Agreement (PA) was one of the last issues to be agreed, in the last night of COP21, shortly before the text went to the COP President, French Foreign Minister Laurent Fabius, for final approval and its subsequent release to the delegates for acceptance on 12 December 2015. This paper presents the evolution of the ideas contained in Article 6 of the Paris Agreement, and how these were captured in textual form in different drafts of the agreement. Understanding the origin of different provisions in the PA, and their evolution, may prove crucial. Losing the institutional memory may lead to attempts, through re-interpretation of the PA, to renegotiate it.

The Importance of Foreign Language Skills in the Labour Markets of Central and Eastern Europe: An assessment based on data from online job portals. CEPS Special Report No. 129/January 2016

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.

Natural Hedging of Exchange Rate Risk: The Role of Imported Input Prices

In this paper, we estimate ERPT into imported input prices and export prices using disaggregated quarterly trade data for Switzerland over 2004–2011. We find evidence for high pass-through rates into imported input prices. This demonstrates the effectiveness of natural hedging. On the export side, ERPT exhibits substantial sectoral heterogeneity and changes in imported input costs are not transmitted to foreign consumers in most cases. This suggests the use of cheaper imported inputs to offset adverse effects of currency appreciation on export profit margins.

Desempenho de longo prazo de IPOs no Brasil: um estudo para o período de 2004 a 2015

O objetivo deste trabalho é avaliar o desempenho de longo prazo das empresas que abrem o capital no Brasil. Os fenômenos de (1) valorização no primeiro dia de negócios pós-IPO (underpricing) seguido de (2) desempenho inferior ao mercado no longo prazo (long-run underperformance) foram amplamente documentados em trabalhos de outros autores. O foco do estudo está em verificar a persistência dessa baixa performance quando alongamos o período de avaliação para 5 anos. Adicionalmente, o estudo pretende entender que fatores são determinantes no desempenho destas ações no longo prazo. O trabalho analisa 128 IPOs ocorridos no período de 2004 a 2012 na Bovespa. Os resultados apontam para evidências estatisticamente significantes de underpricing. Este underpricing foi mais acentuado entre os anos de 2004 a 2008, período precursor da crise financeira do subprime. Quando se analisa a performance de longo prazo os resultados apontam que a carteira de IPOs apresentou performance abaixo do mercado até o 29° mês. Os IPOs lançados no período pré-crise do subprime tiveram performance abaixo do mercado após 3 anos, enquanto que os IPOs lançados no pós-crise tiveram retorno acima do mercado para 3 e 5 anos. Não foi identificada a persistência da baixa performance dos IPOs além do 29° mês. Três variáveis principais mostraram significância na explicação dos retornos de longo prazo: (1) o período de lançamento das ações, (2) o percentual de alocação de investidores estrangeiros, (3) e a reputação do coordenador da oferta. Os IPOs lançados no período pós-crise do subprime observaram melhor performance no longo prazo. Também apresentaram melhor performance os IPOs com maior presença de investidor estrangeiro. Adicionalmente, existe uma relação inversa entre a reputação do coordenador líder da oferta e a performance de longo prazo.

Immigrants and the American labor market /

Includes bibliographical references.

Meet the USA; handbook for foreign students in the United States.

"The first edition of Meet the U.S.A. was written in 1945 by a Chinese professor and former exchange student. A revised edition was published in 1952."

"Aunt Babette's" cook book : foreign and domestic receipts for the household : a valuable collection of receipts and hints for the housewife, many of which are not to be found elsewhere /

Includes sections on servants, grocery marketing, canning; household hints; samples of menus; recipes for German, French, Hungarian, Italian, Polish, Russian, Jewish dishes; some recipes include wine or liquor as an ingredient. Sample recipes: Filet de bœuf au champignons, Velvet potato puffs, Rhubarb custard pie, Bergamot ice-cream.

Cracking the Japanese market [microform] : hearing before the Subcommittee on Trade, Productivity, and Economic Growth of the Joint Economic Committee, Congress of the United States, Ninety-ninth Congress, second session, February 10, 1986.

CIS Microfiche Accession Numbers: CIS 87 J841-9

Gray market vehicle program: extension warranted, but improvements in vehicle identification are needed.

Mode of access: Internet.

Pieces that have won prizes; also many encore pieces.

Encore pieces: An old man's soliloquy / Roswell Field -- A n old sweetheart of mine / James Whitcomb Riley -- And the band played / Maurice E. McLaoughlin -- The ballad of the colors ; Ben Bolt / Thomas Dunn English -- A brave little girl ; Casey at the bat / Anon -- The cataract of Lodore / Robert Southey -- The countersign was Mary / Margaret Eytinge -- Dinnis Kilboo's sanatarium / Chas. T. Catlin -- A dude in a horse-car / G.W. Kyle -- Elsinore / Lucy H. Hooper -- Entertaining sister's beau / Bret Harte -- Family financiering ; Farmer John ; Father's voice ; A fly's cogitations / Anon -- Foreign views of the statue / Fred. Emerson Brooks -- Going to school / Anon -- Grandma -- The granger and the gambler / W.H. -- A great tune / John Habberton -- Hail fellow, well met / Albert Hardy -- Hans and Fritz -- How girls study / Belle McDonald -- Jack the evangelist / N.Y. Evangelist -- The kitchen clock / J.V. Cheney -- Life's magnet / Ella Wheeler Wilcox -- The little boy's prayer / S.M. Talbot -- Little Nan -- Little orphant Annie / James Whitcomb Riley -- A little woman / Eugene Field -- Maud Rosihue's choice / T. Edwin Leary -- The mischievous misses / James G. Small -- Miss Maloney on the Chinese question / Mary M. Dodge -- Mrs. Stuart learns how to skate / Clara Augusta -- My lover / Emma Mortimer White -- My garden / Anon -- Nancy / Arty Brace -- Now and then / Anon -- O captain, my captain / Walt Whitman -- The old man in a palace car / John H. Yates -- The orthod-ox team / Fred Emerson Brooks -- The porter's story / Maurice Edmunds -- The proposal -- Romeo and Juliet / The Poet-Scout -- Room enough for all / Anon -- The saint and the sinner / Madeline Bridges -- Sam / Albert Hardy -- A schoolroom idyl / Charles B. Going -- A telephone message -- The countersign / J. Hooker Hamersley -- Uncle Ned's defense / Anon -- Unforgiven / Frank McHale -- The valentine / Mary D. Brine -- Wash dolly up like that / Eleanor Kirk Ames -- What is a gentleman / N.L. O'D -- The witness / Anon -- Yellow roses / J. Hooker Hamersley.

Chiefs of State and Cabinet members of foreign governments /

Description based on: CR CS 81-002 (Feb. 1981).

The life & times of Sir Thomas Gresham...founder of the Royal exchange; including notices of many of his contemporaries...

T.-p. in red & black.

The East European market for U.S. soybeans and products /

Mode of access: Internet.

The market for U.S. cotton in the Republic of Korea /

Mode of access: Internet.

Japan as a market for U.S. cotton /

Mode of access: Internet.