Financial Engineering Instruments and their Assessment Under EU State Aid Rules. Bruges European Economic Policy (BEEP) Briefing 26/2013

Financial engineering instruments such as guarantees, loans and equity are increasingly used in public funding of enterprises. These instruments have three attractive features: they are repayable, they “leverage” private involvement, and they have a multiplier effect because they generate new income. At the same time, however, they are technically complex and they are subject to state aid rules. Their assessment under EU state aid rules creates two additional problems. First, under certain conditions financial instruments may not contain state aid. This is when public authorities act as “private investors”. This means that state aid cannot be presumed to exist in all financial instruments. It must first be established through market analysis. Second, when state aid is found to be present it is not always possible to quantify it. For this reason the state aid rules that apply to financial instruments differ significantly from other rules. This paper reviews how financial instruments have been assessed by the European Commission and under which conditions the state aid they may contain can be considered to be compatible with the internal market. The paper finds that by and large Member States have succeeded to design measures that have all been approved by the Commission.

Identidade profissional: como se veem os professores na escola atual

Dissertação apresentada para a obtenção do grau de mestre em Ciências da Educação - área de Supervisão e Orientação Pegagógica

Predictors of Nasal Obstruction: Quantification and Assessment Using Multiple Grading Scales

Objective. To evaluate the association between nasal obstruction and (1) demographic factors, (2) medical history, (3) physical tests, and (4) nasal exam findings. Study Design. CASE SERIES: Methods. Chart review at a tertiary medical center. Results. Two hundred-forty consecutive patients (52.1 ± 17.5 years old, with a Nasal Obstruction Symptom Evaluation (NOSE) score of 32.0 ± 24.1) were included. Demographic factors and inferior turbinate sizes were not associated with NOSE score or Nasal Obstruction Visual Analog Scale (NO-VAS). A significant association was found between higher NOSE score on univariate analysis and positive history of nasal trauma (p = 0.0136), allergic rhinitis (p < 0.0001), use of nasal steroids (p = 0.0108), higher grade of external nasal deformity (p = 0.0149), higher internal nasal septal deviation grade (p = 0.0024), and narrow internal nasal valve angle (p < 0.0001). Multivariate analysis identified the following as independent predictors of high NOSE score: NO-VAS: ≥50 (Odds Ratio (OR) = 17.6 (95% CI 5.83-61.6), p < 0.0001), external nasal deformity: grades 2-4 (OR = 4.63 (95% CI 1.14-19.9), p = 0.0339), and allergic rhinitis: yes (OR = 5.5 (95% CI 1.77-18.7), p = 0.0041). Conclusion. Allergic rhinitis, NO-VAS score ≥ 50, and external nasal deformity (grades 2-4) were statistically significant independent predictors of high NOSE scores on multivariate analysis. Inferior turbinate size was not associated with NOSE scores or NO-VAS.

Systematic review of outcome domains and instruments used in clinical trials of tinnitus treatments in adults

BACKGROUND: There is no evidence-based guidance to facilitate design decisions for confirmatory trials or systematic reviews investigating treatment efficacy for adults with tinnitus. This systematic review therefore seeks to ascertain the current status of trial designs by identifying and evaluating the reporting of outcome domains and instruments in the treatment of adults with tinnitus. METHODS: Records were identified by searching PubMed, EMBASE CINAHL, EBSCO, and CENTRAL clinical trial registries (ClinicalTrials.gov, ISRCTN, ICTRP) and the Cochrane Database of Systematic Reviews. Eligible records were those published from 1 July 2006 to 12 March 2015. Included studies were those reporting adults aged 18 years or older who reported tinnitus as a primary complaint, and who were enrolled into a randomised controlled trial, a before and after study, a non-randomised controlled trial, a case-controlled study or a cohort study, and written in English. Studies with fewer than 20 participants were excluded. RESULTS: Two hundred and twenty-eight studies were included. Thirty-five different primary outcome domains were identified spanning seven categories (tinnitus percept, impact of tinnitus, co-occurring complaints, quality of life, body structures and function, treatment-related outcomes and unclear or not specified). Over half the studies (55 %) did not clearly define the complaint of interest. Tinnitus loudness was the domain most often reported (14 %), followed by tinnitus distress (7 %). Seventy-eight different primary outcome instruments were identified. Instruments assessing multiple attributes of the impact of tinnitus were most common (34 %). Overall, 24 different patient-reported tools were used, predominantly the Tinnitus Handicap Inventory (15 %). Loudness was measured in diverse ways including a numerical rating scale (8 %), loudness matching (4 %), minimum masking level (1 %) and loudness discomfort level (1 %). Ten percent of studies did not clearly report the instrument used. CONCLUSIONS: Our findings indicate poor appreciation of the basic principles of good trial design, particularly the importance of specifying what aspect of therapeutic benefit is the main outcome. No single outcome was reported in all studies and there was a broad diversity of outcome instruments. PROSPERO REGISTRATION: The systematic review protocol is registered on PROSPERO (International Prospective Register of Systematic Reviews): CRD42015017525 . Registered on 12 March 2015 revised on 15 March 2016.

Mountains of the world - Sustainable development in mountain areas: The need for adequate policies and instruments

This brochure deals with policies and policy instruments needed to promote sustainable development in mountain areas. The first part presents an overview of key issues in mountain development, and principles and strategies that should be adopted. Each principle contains a checklist for policy-makers. The second part presents national and regional case studies of successful approaches and initiatives relating to mountain policy from all over the world. The brochure concludes with a call for multi-level initiatives and partnerships. This full-colour publication is part of the Mountains of the World series. It was prepared for the 2002 World Summit on Sustainable Development in Johannesburg by an international panel of experts coordinated by CDE. It was commissioned and funded by the Swiss Agency for Development and Cooperation (SDC).

Lithogenic and biogenic daily and annual particle fluxes on the Lomonosov Ridge of trap LOMO-2

Investigations of lithogenic and biogenic particle fluxes using long-term sediment traps are still very rare in the northern high latitudes and restricted to the arctic marginal seas and sub-arctic regions. Here, for the first time, data on the variability of fluxes of lithogenic matter, carbonate, opal, and organic carbon as well as biomarker composition from the central Arctic Ocean are presented for a one-year period. The study has been carried out on material obtained from a long-term mooring system equipped with two multi-sampling-traps (150 and 1550 m water depth) and deployed on the southern Lomonosov Ridge close to the Laptev Sea continental margin from September 1995 to August 1996. In addition, data from surface-sediments were included in the study to get more information about the flux and sedimentation of organic carbon in this area. Annual fluxes of lithogenic matter, carbonate, opal, and particulate organic carbon are 3.9 g/m**2/y, 0.8 g/m**2/y, 2.6 g/m**2/y, 1.5 g/m**2/y, respectively, at the shallow trap and 11.3 g/m**2/y, 0.5 g/m**2/y, 2.9 g/m**2/y, 1.05 g/m**2/y, respectively, at the deep trap. Both the shallow as well as the deep trap show significant differences in vertical flux values over the year. Higher values were found from mid-July to end of October (total flux of 75-130 mg/m**2/d in the shallow trap and 40-225 mg/m**2/d in the deep trap, respectively). During all other months, fluxes were fairly low in both traps (most total flux values <10 mg/m**2/d1). The interval of increased fluxes can be separated into (1) a mid-July/August maximum caused by increased primary production as documented in high abundances of marine biomarkers and diatoms, and (2) a September/October (absolute) maximum caused by increased influence of Lena river discharge indicated by maximum lithogenic flux and high portions of terrigenous/fluvial biomarkers in both traps. Here, total fluxes in the deep trap were significantly higher than in the shallow trap, suggesting a lateral sediment flux at greater depth. The lithogenic flux data also support the importance of sediment input from the Laptev Sea for the sediment accumulation on the Lomonosov Ridge on geological time scales, as indicated in sedimentary records from this region.

3D models created from ROV videos and their corresponding subtransect dimensions

Underwater video transects have become a common tool for quantitative analysis of the seafloor. However a major difficulty remains in the accurate determination of the area surveyed as underwater navigation can be unreliable and image scaling does not always compensate for distortions due to perspective and topography. Depending on the camera set-up and available instruments, different methods of surface measurement are applied, which make it difficult to compare data obtained by different vehicles. 3-D modelling of the seafloor based on 2-D video data and a reference scale can be used to compute subtransect dimensions. Focussing on the length of the subtransect, the data obtained from 3-D models created with the software PhotoModeler Scanner are compared with those determined from underwater acoustic positioning (ultra short baseline, USBL) and bottom tracking (Doppler velocity log, DVL). 3-D model building and scaling was successfully conducted on all three tested set-ups and the distortion of the reference scales due to substrate roughness was identified as the main source of imprecision. Acoustic positioning was generally inaccurate and bottom tracking unreliable on rough terrain. Subtransect lengths assessed with PhotoModeler were on average 20% longer than those derived from acoustic positioning due to the higher spatial resolution and the inclusion of slope. On a high relief wall bottom tracking and 3-D modelling yielded similar results. At present, 3-D modelling is the most powerful, albeit the most time-consuming, method for accurate determination of video subtransect dimensions.