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An evaluation scheme is presented in this paper which can be used to assess groundwater vulnerability according to the requirements of the European Water Framework Directive (WFD). The evaluation scheme results in a groundwater vulnerability map identifying areas of high, medium and low vulnerability, as necessary for the measurement planning of the WFD. The evaluation scheme is based on the definition of the vulnerability of the Intergovernmental Panel on Climate Change (IPCC). It considers exposure, sensitivity and the adaptive capacity of the region. The adaptive capacity is evaluated in an actors' platform, which was constituted for the region in the PartizipA ("Participative modelling, Actor and Ecosystem Analysis in Regions with Intensive Agriculture") project. As a result of the vulnerability assessment, 21% of the catchment area was classified as being highly vulnerable, whereas 73% has medium vulnerability and 6% has low vulnerability. Thus, a groundwater vulnerability assessment approach is presented, which can be used in practice on a catchment scale for the WFD measurement planning.
University 2.0
(2007)
The major challenge facing universities in the next decade is to reinvent themselves as information organizations. Universities are, at their core, organizations that cultivate knowledge, seeking both to create new knowledge and to preserve and convey existing knowledge, but they are remarkably inefficient and therefore ineffective in the way that they leverage their own information resources to advance that core activity. This talk will explore ways that the university could learn from what is now widely called "Web 2.0" -- a term that is meant to identify a shift in emphasis from the computer as platform to the network as platform, from hardware to data, from the wisdom of the expert to the wisdom of crowds, and from fixity to remixability.
In several academic fields (most notably: physics, mathematics, economics, astronomy, and computer science), most current research papers are freely accessible on the Internet in both pre- and post-publication formats. For these disciplines, open-access dissemination of publications and data has created a robust and useful information environment that is highly valued by researchers. While the acceptance of open-access dissemination has been disruptive to traditional scholarly publishing, the status and economic value of the elite journals has remained largely intact. Indeed, publication in the most prestigious journals (e.g., Science, Nature, Cell, BMJ, etc.) may have more influence than ever in determining the advancement of academic careers. Traditional publishing and open access will continue to coexist uncomfortably for years to come, but the next wave of digital publishing systems (empowered social networking applications) will establish open access repositories as indispensable infrastructure for the sciences and social sciences.
It is theoretically clear and may be verified empirically that efficient financial markets can make it less necessary for policy to try and offset the welfare effects of labour income risk and unequal consumption dynamics. The literature has also pointed out that, since international competition exposes workers to new sources of risk at the same time as it makes it easier for individual choices to undermine collective policies, international economic integration makes insurance-oriented government policies more beneficial as well as more difficult to implement. This paper reviews the economic mechanisms underlying these insights and assesses their empirical relevance in cross-country panel data sets. Interactions between indicators of international economic integration, of government economic involvement, and of financial development are consistent with the idea that financial market development can substitute public schemes when economic integration calls for more effective household consumption smoothing. The paper’s theoretical perspective and empirical evidence suggest that to the extent that governments can foster financial market development by appropriate regulation and supervision, they should do so more urgently at times of intense and increasing internationalization of economic relationships. JEL Classification: G1, E21
We review savings trends in Italy, summarizing available empirical evidence on Italians’ motives to save, relying on macroeconomic indicators as well as on data drawn from the Bank of Italy’s Survey of Household Income and Wealth from 1984 to 2004. The macroeconomic data indicate that households’ saving has dropped significantly, although Italy continues to rank above most other countries in terms of saving. We then examine with microeconomic data four indicators of household financial conditions: the propensity to save, the proportion of households with negative savings, the proportion of households with debt, and the proportion of households that lack access to formal credit markets. By international comparison, the level of debt of Italian households and default risk are relatively low. But in light of the deep changes undergone by the Italian pension system, the fall in saving is a concern, particularly for individuals who entered the labor market after the 1995 reform and who have experienced the largest decline in pension wealth. JEL Classification: D91
Mutual insurance companies and stock insurance companies are different forms of organized risk sharing: policyholders and owners are two distinct groups in a stock insurer, while they are one and the same in a mutual. This distinction is relevant to raising capital, selling policies, and sharing risk in the presence of financial distress. Up-front capital is necessary for a stock insurer to offer insurance at a fair premium, but not for a mutual. In the presence of an owner-manager conflict, holding capital is costly. Free-rider and commitment problems limit the degree of capitalization that a stock insurer can obtain. The mutual form, by tying sales of policies to the provision of capital, can overcome these problems at the potential cost of less diversified owners.
We analyze the effect of committee formation on how corporate boards perform two main functions: setting CEO pay and overseeing the financial reporting process. The use of performance-based pay schemes induces the CEO to manipulate earnings, which leads to an increased need for board oversight. If the whole board is responsible for both functions, it is inclined to provide the CEO with a compensation scheme that is relatively insensitive to performance in order to reduce the burden of subsequent monitoring. When the functions are separated through the formation of committees, the compensation committee is willing to choose a higher pay-performance sensitivity as the increased cost of oversight is borne by the audit committee. Our model generates predictions relating the board committee structure to the pay-performance sensitivity of CEO compensation, the quality of board oversight, and the level of earnings management.
We survey contributions to the analysis of household liabilities, highlighting relevant theoretical aspects and outlining how data sources may support empirical testing and measurement efforts. Specifically, we classify aspects of household debt, discussing the theoretical and policy relevance of heterogeneity across individual and country dimensions. Aiming to illustrate conceptual and measurement issues, we refer to the approaches and results of some recent relevant country-specific work on administrative and survey data, and we argue that research in this area would greatly benefit from availability of appropriately classified household liabilities data and of cross-country institutional information. JEL Classification: G1, E21
Information Supply in the era of mass digitization Drawing on his experience at the Bodleian Library and now at the British Library, Ronald Milne will share his first-hand impressions of 'boutique' and mass digitization programmes, such as those being undertaken by Google and Microsoft, and their effect on information supply. Collections define libraries. What does this mean in the 21st Century? Will all libraries become equal as the digital revolution progresses? What might the digitization and indexing of millions of works mean for university researchers and the intellectually curious more generally? What are the benefits and what are the strategic issues that we are bound to consider?
Trends for distributed, open, and increasingly collaborative models of information delivery challenge the library's classic roles. In addition, trends within the research community for more interdisciplinary and collaborative scholarship create an opportunity for more enabling information infrastructure. In an age of Amazon, Google, and "social" tools, how should the library respond? My presentation will focus on strategies for bringing the library's "assets" into the flow of researchers' work. How can the library integrate its resources into the scholar's workflow? What are the emerging challenges of this integration?