The past, present and future of central banking

The financial crisis, on the one hand, and the recourse to ‘unconventional’ monetary policy, on the other, have given a sharp jolt to perceptions of the role and status of central banks. In this paper we start with a brief ‘contrarian’ history of central banks since the second world war, which presents the Great Moderation and the restricted focus on inflation targeting as a temporary aberration from the norm. We then discuss how recent developments in fiscal and monetary policy have affected the role and status of central banks, notably their relationships with governments, before considering the environment central banks will face in the near and middle future and how they will have to change to address it.

Pathology as the Cornerstone of Human Tissue Banking: European Consensus Expert Group Report

Aside from ethical considerations, the primary requirement for usage of human tissues in basic or translational research is the thorough characterization of tissues. The second, but equally essential, requirement is that tissues be collected, processed, annotated, and preserved in optimal conditions. These requirements put the pathologist at the center of tissue banking activities and of research aimed at discovering new biomarkers. Pathologists not only provide information identifying the specimen but also make decisions on what materials should be biobanked, on the preservation conditions, and on the timeline of events that precede preservation and storage. This central position calls for increased recognition of the role of the pathologist by the biomolecular community and places new demands on the pathologist's workload and scope of scientific activities. These questions were addressed by an Expert Group Meeting of the European Biological and Biomolecular Research Infrastructure (BBMRI). While detailed recommendations are published elsewhere (Bevilacqua et al., Virchows Archivs, 2010, in press), this article outlines the strategic and technological issues identified by the Expert Group and identifies ways forward for better integration of pathology in the current thrust for development of biomarker-based "personalized medicine.

Clustering or scattering: the underlying reason for regulating distance among retail outlets

Concerns on the clustering of retail industries and professional services in main streets had traditionally been the public interest rationale for supporting distance regulations. Although many geographic restrictions have been suppressed, deregulation has hinged mostly upon the theory results on the natural tendency of outlets to differentiate spatially. Empirical evidence has so far offered mixed results. Using the case of deregulation of pharmacy establishment in a region of Spain, we empirically show how pharmacy locations scatter, and that there is not rationale for distance regulation apart from the underlying private interest of very few incumbents.

An Assessment of the Microbiology of Hand Contact Surfaces in the Retail Environment

This study aimed to assess the microbiology of food and hand contact surfaces in the retail environment and the potential for these surfaces to act as vehicles for the spread of foodborne pathogens. During the survey, 10 stores in the Republic of Ireland (ROI) were visited by student Environmental Health Officers (EHOs) who took swab samples from four surfaces: conveyor belts, long-life shopping bags, shopping trolley handles and keypads on card payment units. The swab samples were examined for the presence of the pathogens Salmonella, Campylobacter and Listeria. The Aerobic Colony Counts, as well as the levels of E. coli and Enterobacteriaceae, were also determined. In addition, structured questionnaires were used with retailers to establish the stores’ regimes for the cleaning of conveyor belts. Similarly, shoppers donating their long-life shopping bags for sampling were questioned about how they normally use these bags, and the results were compared with those from the microbiological survey. The results indicated that the hygiene of the surfaces sampled was good, with Salmonella, Campylobacter and Listeria not detected in any of the samples, and levels of both Enterobacteriaceae and E. coli were below the limits of detection in all but one sample. Aerobic Colony Counts varied but none of the results obtained would be deemed ‘unacceptable’ or ‘unsatisfactory’ under guidelines for ready-to-eat foods

Promoting Corporate Responsibility in Private Banking: Necessary and Sufficient Conditions for Joining the Wolfsberg Initiative Against Money Laundering

In recent years, the fight against money laundering has emerged as a key issue of financial regulation. The Wolfsberg Group is an important multistakeholder agreement establishing corporate responsibility (CR) principles against money laundering in a domain where international coordination remains otherwise difficult. The fact that 10 out of the 25 top private banking institutions joined this initiative opens up an interesting puzzle concerning the conditions for the participation of key industry players in the Wolfsberg Group. The article presents a fuzzy-set analysis of seven hypotheses based on firm-level organizational factors, the macro-institutional context, and the regulatory framework. Results from the analysis of these 25 financial institutions show that public ownership of the bank and the existence of a code of conduct are necessary conditions for participation in the Wolfsberg Group, whereas factors related to the type of financial institution, combined with the existence of a black list, are sufficient for explaining participation.

Open source software expectations in retail businesses of Igualada : an exploratory study

The emergence of open source software in the last years has become a common topic of study in different fields, from the most technical characteristics to the economical aspects. This paper examines the current status about the literature dealing with economics of open source and explores the uses, infrastructure and expectations of retail businesses and institutions of the town of Igualda about it. This qualitative case study finds out that the current equipment and level of uses of ICTs are low and that the current situation of the town stores is receptive to a potential introduction of open source software.

Iowa Department of Commerce - Division of Banking, Agency Performance Plan

Annual Report, Agency Performance Plan

2001 Annual Report of the Superintendent of Banking

2001 Annual Report of the Superintendent of Banking.

2002 Annual Report of the Superintendent of Banking

2002 Annual Report of the Superintendent of Banking.

2003 Annual Report of the Superintendent of Banking, June 30, 2003

Annual report for Iowa Division of Banking.

Telecommunications Competition Survey for Retail Local Voice Services in Iowa, January 26, 2004

Survey of retail local voice services for Iowa Utilities Board

Implantació SAP ERP en el sector retail amb les BestPractices

L'objectiu del present TFC és dur a terme una implantació de SAP en una PIME del sector Retail mitjançant les BestPractices i comprovar que és possible realitzar aquesta implantació amb uns costos reduïts, un temps limitat i, el més important, uns riscos molt baixos i controlats.

Essays in banking and corporate finance

Abstract This paper presents a model of executive compensation in which the executive is risk-averse and has specific knowledge -knowledge about the optimal actions to take that is costly to transfer to the principal. The model generates predictions that are consistent with the available evidence and provides a rationale for a number of unresolved puzzles in executive compensation. Notably, we find that relative performance evaluation is optimal only if the quality of specific knowledge is low. We also show (1) why some common risk components are not filtered out of executives' pay, (2) why performance is more likely to be evaluated relative to aggregate market movements than relative to industry movements, and (3) why executives with higher perceived abilities are given stronger incentives. Finally, we demonstrate that the relation between risk and incentives may be positive or negative, depending on the quality of the executive's specific knowledge.

2004 Annual Report of the Superintendent of Banking, 2004

2004 Annual Report of the Superintendent of Banking.

Department of Commerce Iowa Division of Banking Performance Report, FY 2004

Agency Performance Report from the Banking Division