Devaluation of a constitutional guarantee : the history of section 51(xxiiiA) of the Commonwealth Constitution

This article describes constitutional and socio-historical background to the referendum that led to the inserrion of s 51(xxiijA) into the Commonwealth Constitution. It traces judicial interpretations of the clause 'but not so as to authorise any fonn of civil conscription' through the major cases, including British Medical Association v Commonwealth, General Practitioners Society v Commonwealth, and Alexandra Private Geriatric Hospital Pty Ud v Commonwealth. The issue of the powers of the Commonwealth to regulate private medical practice without infringing the constitutional guarantee against civil conscription is analysed in the context of the development of National Health Care Schemes for financing medical benefits (Health Insurance Commission v Peverill). Constitutional aspects of the 1995 legislation enabling the introduction into Australia of purchaser-provider agreements ('managed care ') are also examined. Finally, the article questions the constitutionality of the Australian Competition and Consumer Commission s powers to regulate the essential elements of the patient-doctor relationship.

Impacts of currency fluctuations on Japanese foreign direct investment

The Japanese currency has appreciated substantially against most other currencies over the last two decades. During the same time Japan has become one of the world's largest providers of FDI. Japan's share of total FDI outflows increased from about 6 percent during the late 70's to 21 percent in 1990 while its share of the total stock of FDI in the world increased from less than 1 percent in 1960 to more than 13 percent in 1993. Not surprisingly, Japan's role in international business in general and its FDI activities, in particular, have attracted considerable attention from researchers world wide. However, much of this attention has been directed towards the patterns and determinants of Japanese foreign direct investment, in particular to the United States. The impact of changes in the value of the Yen on Japanese FDI has been largely overlooked. Thus, this paper fills an important gap in the literature by focusing on the influence of changes of the exchange rate on Japanese foreign direct investment. A comprehensive simultaneous equa-tion model of Japanese FDI is developed on a regional level to gauge the extent to which currency fluctuations affect Japanese FDI activities. The results suggest that the exchange rate is an effective mechanism through which to influence FDI. Thus, the exchange rate should not be overlooked by the World Trade Organisation in its efforts to further liberalise investment through the Multilateral Agreement on Investment.

Dynamic Effects of Currency Depreciation on Stock Market Returns during the Asian Financial Crisis

The current international integration of financial markets provides a channel for currency depreciation to affect stock prices. Moreover, the recent financial crisis in Asia with its accompanying exchange rate volatility affords a case study to examine that channel. This paper applies a bivariate GARCH-M model of the reduced form of stock market returns to investigate empirically the effects of daily currency depreciation on stock market returns for five newly emerging East Asian stock markets during the Asian financial crisis. The evidence shows that the conditional variances of stock market returns and depreciation rates exhibit time-varying characteristics for all countries. Domestic currency depreciation and its uncertainty adversely affects stock market returns across countries. The significant effects of foreign exchange market events on stock market returns suggest that international fund managers who invest in the newly emerging East Asian stock markets must evaluate the value and stability of the domestic currency as a part of their stock market investment decisions.

Substratal idiothetic navigation of rats is impaired by removal or devaluation of extramaze and intramaze cues

The spatial orientation of vertebrates is implemented by two complementary mechanisms: allothesis, processing the information about spatial relationships between the animal and perceptible landmarks, and idiothesis, processing the substratal and inertial information produced by the animal's active or passive movement through the environment. Both systems allow the animal to compute its position with respect to perceptible landmarks and to the already traversed portion of the path. In the present study, we examined the properties of substratal idiothesis deprived of relevant exteroceptive information. Rats searching for food pellets in an arena formed by a movable inner disk and a peripheral immobile belt were trained in darkness to avoid a 60° sector; rats that entered this sector received a mild foot shock. The punished sector was defined in the substratal idiothetic frame, and the rats had to determine the location of the shock sector with the use of substratal idiothesis only, because all putative intramaze cues were made irrelevant by angular displacements of the disk relative to the belt. Striking impairment of place avoidance by this “shuffling procedure” indicates that effective substratal idiothesis must be updated by exteroceptive intramaze cues.

Patterns of currency transactions and their relationship to narcotics traffic : hearing before the Subcommittee on General Oversight and Renegotiation of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-sixth Congress, first session on H.R. 5961 ... November 29, 1979.

"Serial no. 96-47."

The behavior of U.S. export prices and profit margins, 1981-1986 /

Mode of access: Internet.

Facts and fallacies in the evidence taken by "The committee on banks of issue" ; exhibiting aggressions in the Bank of England, and oppressions on the British community : to which are added extraordinary suggestions of currency remedies, for town and country bankers, in a letter to the Chancellor of the Exchequer.

Mode of access: Internet.

A digest of information on the relation of currency to the depression.

Mimeographed.

Report of currency exchanges.

Description based on: Oct. 1, 1955 through Sept. 30, 1958.

Remarks on the present state of currency, credit, commerce, and national industry ...

Mode of access: Internet.

The principles of currency and exchange /

Goldsmiths'-Kress no. 19114.

Principles of currency and banking.

Microfilm. Ann Arbor, Mich., University Microfilms [n.d.] (American culture series, Reel 378.12)

Views on the currency : in which the connexion between corn and currency is shown, the nature of our system of currency explained, and the merits of the Corn bill, the branch banks, the extension of the bank charter, and the small note act examined /

Goldsmiths'-Kress no. 25572.