Mere Intermediaries Research Articles

Women in Diplomacy: The Ambassadress Seen by Friedrich Carl von Moser

Any analysis of women’s place in the early modern diplomatic world must necessarily begin by recognising the important role played by female rulers (that is, women who ruled in their own right), queens (wives or widows of monarchs), and female regents. Some female rulers were indeed involved in diplomatic negotiations, but it is difficult to determine their true role: were they actual negotiators or mere intermediaries? And apart from rulers, could women act as political agents in foreign countries? Archival documents show that, behind the scenes, women were often very influential (Lucien Bély, Espions et ambassadeurs au temps de Louis XIV (Paris: Fayard, 1990), 174–182.). In this paper I shall try to answer these questions, and to offer a theoretical approach about women in diplomacy. I shall do this by looking at Friedrich Carl von Moser’s treatise L’Ambassadrice et ses droits: an essay, maybe a unique one, about the ‘ambassadress’ – a term that Moser uses to refer to both a female diplomat in her own right and the wife of an ambassador (Friedrich Carl von Moser, L’Ambassadrice et ses droits (Berlin: Etienne de Bourdeaux, 1754).).

SEARCH ENGINES IN COLOMBIA

Purpose ”“ Considering the relevance of personal data protection, this article focuses on the identification of the criteria used by Colombian Courts regarding the rights to access, modification and erasure personal data within the context of information made available through search engines. This framework will expose the different cases ruled by the Colombian Constitutional Court as it attempts to highlight which were the criteria used by the courts that brought them to rule that search engines are mere intermediaries between the content makers and data subjects. Finally, this study aims to contribute not only to the data protection legal literature in Colombia, but also, to improve the possibilities to effectively implement user´s rights of online search engines in Colombia.
 Methodology ”“In order to achieve the purpose of this research project, the following methodological strategies will be employed: (i) Legal-analytical study, by way of reviewing the Colombian regulatory framework in order to map out main rules regarding the fundamental rights to access, modification and erasure of personal data, and determining which ones are the aspects hindering the effective implementation of the rights; (ii) Legal-theoretical study, where it reviews the issues identified by legal scholars as hampering the implementation of data protection rights in general; (iii) Legal-empirical study that aims to raise awareness regarding the incidence of the activities carried out by search engines in the life of data subjects.
 Findings ”“ The Colombian Constitutional Court has seen search engines as mere intermediaries, meaning they do not have to rectify, correct, eliminate or complete the information listed in the results they provide. This approach demands that the Judiciary enforces the existence of a right to request the erasure of links and the need of procedures provided by them to do it effectively without erasing or altering the content of the website. This delisting process should not be arbitrary based on conditions that allow data subjects to ask the erasure of links associated with their names. In the European Union, the conditions to get those results delisted are inadequacy, irrelevance, or excessiveness in relation to the processing purposes. The current position of the Constitutional Court about the search engines role and their responsibilities has not protected the user’s fundamental rights to privacy, reputation, and honor. Therefore, a more committed study on behalf of the Court is required.
 Practical Implications ”“ In the Muebles Caquetá Case, the Court must point out the importance of the activities carried out by online search engines, and force them to face the implications of being a “controller” of the processing of personal data that takes place within their services. I suggest that the Court itself should draft clear delisting guidelines considering the opinions of a group of impartial experts, civil society representatives and the local Data Protection Authority.
 Originality ”“ Considering the implications posed by personal data and data mining, this article identifies the legal and regulatory framework surrounding those activities and in way contribute to create a data protection culture in Latin America, raise awareness regarding the incidence of search engines in the life of data rights holders, identify possible disconnections between the existent regulatory framework for personal data rights, and facilitate the cooperation between Courts and stakeholders of the telecommunication and media sectors, based on the common goal of fulfilling the public interests of ensuring data protection rights.

Infracción de un derecho de marca en plataformas de ecommerce: la actuación de la plataforma y el impacto en su responsabilidad

Las plataformas de comercio electrónico se han convertido en verdaderos protagonistas en el intercambio de bienes y servicios. Muchas de estas plataformas son meros intermediarios y sólo alojan información (servicios de hosting). El papel que realizan otras, especialmente en los últimos años debido a cómo han cambiado los servicios digitales, ha dado lugar a que no sea tan fácil calificar su ac­tividad y mucho menos de englobarla dentro de la consideración de “meros intermediarios” que alojan datos. Sin embargo, determinar el rol, el tipo de actuación de este tipo de prestadores de servicios es un aspecto clave cuando se infringen derechos de propiedad industrial o intelectual en una plataforma de ecommerce. En el presente trabajo vamos a abordar dos análisis. Por un lado, se va a estudiar cuándo una plataforma usa una marca en el sentido del Reglmanto UE 2017/1001, sobre la marca de la Unión Europea. Por el otro, se analizará cuándo una plataforma aunque no use la marca se le puede considerar responsable por las infracciones que sobre la misma se están cometiendo en su plataforma.

Is shadow banking really akin to banking? A critical analysis in light of monetary theory

This paper purports to show that a very specific theory of money underlies the way in which shadow banking is understood by most economists as well as the regulatory changes that arises from their understanding of the phenomenon. It demonstrates that the “shadow banking” metaphor implicitly relies on an erroneous conception of banking according to which banks are mere intermediaries of loanable funds. An alternative conception of shadow banking is proposed, based on the theory of endogenous money, where banks play a unique and very special role. The paper provides another comprehension of the purpose of the shadow banking system within the overall financial system, which leads to quite different regulatory proposals.

A note on “Rethinking liquidity creation: Banks, shadow banks and the elasticity of finance”

In their recent article, Yeva Nersisyan and Flavia Dantas proposed to amend the endogenous money theory to account for the activity of nonbank financial institutions (NBFIs) and of foreign banks. It is indeed argued that the traditional post Keynesian and circuitist approaches are overly narrow because they rely on a limited definition of money. Consequently, these approaches are focused on commercial banks (that create money) and regard other financial institutions as mere intermediaries that intermediate funds from surplus units (savers) toward deficit units (borrowers). Because it treats NBFIs as mere intermediaries, the authors argue that the traditional post Keynesian framework is no longer relevant for the analysis of the contemporary financial system. We believe that this critique is not justified. Using balance sheet analysis, we show that the destabilizing role of NBFIs can be taken into account within the traditional post-Keynesian framework.

Contractual Liability of Online Platform Operators: European Proposals and established Principles

Abstract The contractual responsibility of online platform operators has been subject to an intensive debate in the recent past. While the operators of transaction platforms usually seek the role of mere intermediaries without considerable liability for the proper performance of the main contracts, there is increasing support for extending their responsibility. The ‘Discussion Draft of a Directive on Online Intermediary Platforms’, published by a group of European scholars in 2016, can be seen as an important landmark in this debate. The following article will analyse the provisions of this draft on the platform operators’ liability towards the users of the platform. It shall be argued that strict transparency requirements on the role of the platform operators are to be welcomed but that other proposals for a tightened liability based on the idea of economic influence do not accord with established contractual principles which should hold true for the platform economy as well.

Good governance for consumer welfare and accountability in the age of digital aggregators: the case of Amazon India

With growing instances of deficiency in services in the e-commerce sector in India, this paper discusses the legal aspects with regard to liability, if any, of a digital aggregator operating via a third-party marketplace model. The main objective of the paper is to make policy suggestions that can prevent such aberrations and improve regulation of the sector as a whole. While doing so, the good practices adopted by Amazon India is explained as a case study and emphasised that it is worthwhile to treat digital aggregators as 'agents of e-commerce' than mere intermediaries. The paper envisages that disputes atypical to the sector require newer approaches in the nature of a novel e-adjudicatory system and a consumer regulatory authority having specialised expertise ought to encourage the digital aggregators to take a proactive role in making the online marketplace a reliable and wholesome experience for all stakeholders.

Contractual Liability of Online Platform Operators: European Proposals and Established Principles

The contractual responsibility of online platform operators has been subject to an intensive debate in the recent past. While the platform operators usually seek the role of mere intermediaries without considerable liability for the proper performance of the main contracts, there is increasing support for a tightened responsibility of the operators. The ‘Discussion Draft of a Directive on Online Intermediary Platforms’ which was published by a group of European scholars in 2016 can be seen as an important landmark in this debate. The following article will analyse the provisions of this draft on the platform operators’ liability towards the users of the platform. It shall be argued that strict transparency requirements on the role of the platform operators are to be welcomed but that other proposals for a tightened liability based on the idea of economic influence do not accord with established contractual principles which should hold true for the platform economy as well.

Rethinking liquidity creation: Banks, shadow banks and the elasticity of finance

ABSTRACTIn this article, the authors use the concept of the hierarchy of money found in the works of Minsky (2008[1986]), Foley (1987), Wray (1990), and Bell (2001) to analyze the process of liquidity creation in modern capitalist economies where shadow banks play an active role. They abandon the narrow focus on banks as the creators of money as well as the idea that nonbank financial institutions are mere intermediaries between savers and borrowers. Instead, the authors demonstrate that, similar to banks, nonbank financial institutions and foreign banks (through their cross-border activities) create liquidity endogenously by leveraging over the liabilities of entities hierarchically above them. The authors further elucidate Kregel’s concept of “fictitious” liquidity in the context of the hierarchy of financial liabilities, distinguishing it from “true” liquidity. By bringing shadow banks and the euro-currency markets into to the pyramid of financial liabilities, they develop a more complete framework of liquidity creation in modern capitalist economies. Their “extended” pyramid is useful for analyzing not only the fragility that may arise from the interactions between firms, households and banks, but also that which may originate through the interactions between banks, shadow banks and foreign banks.

Il lavoro nella on-demand economy: esigenze di tutela e prospettive regolatorie

The paper explores the so called on-demand economy – i.e. the economic model based on the use of online platforms that ensure the immediate matching between a user in need of a good or a service and another who is able to share his/her assets, goods, skills, time - with specific reference to labour law. Through an analysis of the economic model behind this form of employment, the characteristics and conditions of the workers involved, and the regulatory framework, the Author focuses on the need to protect the workforce performing its services through these platforms. Following an overview of the main topics, the contribution considers the consequences of this economic pattern, which entails that a worker operates as an independent contractor and sees the companies managing the platform services as mere intermediaries. Three fundamental aspects are identified in relation to which the needs of workers' protection are analysed: economic security, reputation and training‏. The paper concludes by stressing the need for legislative action to regulate a form of employment that is gaining momentum in different national contexts, and offers an overview of the ways in which such intervention might take place.‏

The shadow banking system and the new phase of the money manager capitalism

:The conventional definition of the shadow banking system (SBS) put forward by economists of the Federal Reserve and endorsed by the Financial Stability Board and the International Monetary Fund is based on the mainstream view of banks as mere financial intermediaries. On the contrary, this article proposes a post Keynesian approach of the SBS that focuses on the banks’ key role of creating money ex nihilo, highlighted by Schumpeter, Keynes, and their followers, such as Minsky. The hypothesis argued here is that on the threshold of the twenty-first century a new phase of money manager capitalism emerged, in which many money managers along with other nonbanking financial institutions became members of the SBS as they took part in credit risk withdrawals from banks’ balance sheets. This was done through financial innovations (securitization and credit derivatives) that allowed banks to remove these risks from their balance sheets and, in turn, to grant increasing amounts of credit. Yet, by globally multiplying and redistributing the risks present in the system to a variety of financial institutions, they were responsible for the transformation of a classic credit crunch (wherein the sum of potential losses corresponding to loans with low collateral is known), into a systemic financial crisis in the international arena.

Price Discovery in Government Bond Markets

This paper investigates the process of price discovery in government bond markets. By using a new data set including interdealer trades, customer trades, trade types and dealer identities, the paper explores the role of dealers in the price formation process and seeks to identify their sources of information. At the aggregate level the results show that interdealer order flow is highly informative, explaining one fourth of daily yield changes, while customer order flow has little explanatory power. At the individual dealer level the results reveal that dealers contribute differently in the price discovery process. Dealers are heterogeneously informed and appear to rely on different sources of information. While some informed dealers extract information from their customer trades, others may extract information by using skill in collecting and interpreting relevant information from other sources. The findings suggest that dealers are not mere intermediaries of customer trades, but play an independent role in the price discovery process in government bond markets.

Maiores bancos privados no Brasil: um perfil econômico e sociopolítico

O trabalho analisa elementos do poder das instituições financeiras, destacando o controle sobre o fluxo de capitais - caracterizado como hegemonia financeira -, a constituição dos grupos econômicos ou financeiros, a estrutura de representação dos interesses de classe do setor e a participação deste no processo político e nos aparatos de decisão do Estado. Considerando a reestruturação financeira ocorrida no Brasil na década de 1990, o trabalho traça um perfil dos dez maiores bancos privados a partir de indicadores econômicos e sociopolíticos selecionados. Para além de sua posição como meros intermediários financeiros, identifica-se em que medida esses bancos configuram-se como grupos econômicos e, especialmente, como unidades de articulação mais ampla, que se revela em conexões com o Estado e com a própria organização e atuação de classe nos âmbitos corporativo e político.

Appetitive and Aversive Olfactory Learning in Humans Studied Using Event-Related Functional Magnetic Resonance Imaging

We combined event-related functional magnetic resonance imaging (fMRI) with olfactory classical conditioning to differentiate the neural responses evoked during appetitive and aversive olfactory learning. Three neutral faces [the conditioned stimuli (CS+)] were repetitively paired with pleasant, neutral, or unpleasant odors [the unconditioned stimuli (UCS)] in a partial reinforcement schedule. A fourth face was never paired to odor [the nonconditioned stimulus (CS-)]. Learning-related neural activity, comparing unpaired (face only) CS+ stimuli with CS-, showed valence-independent activations in rostral and caudal orbitofrontal cortex (OFC). Medial OFC responded to the appetitive (app) CS+, whereas lateral OFC responded to the aversive (av) CS+. Within nucleus accumbens, neural responses showed divergent activation profiles that increased with time in response to the appCS+ but decreased in response to the avCS+. In posterior amygdala, responses were elicited by the appCS+, which habituated over time. In temporal piriform cortex, neural responses were evoked by the avCS+, which progressively increased with time. These results highlight regional and temporal dissociations during olfactory learning and imply that emotionally salient odors can engender cross-modal associative learning. Moreover, the findings suggest that the role of human primary (piriform) and secondary olfactory cortices transcends their function as mere intermediaries of chemosensory information processing.

RNA pseudoknot prediction in energy-based models.

RNA molecules are sequences of nucleotides that serve as more than mere intermediaries between DNA and proteins, e.g., as catalytic molecules. Computational prediction of RNA secondary structure is among the few structure prediction problems that can be solved satisfactorily in polynomial time. Most work has been done to predict structures that do not contain pseudoknots. Allowing pseudoknots introduces modeling and computational problems. In this paper we consider the problem of predicting RNA secondary structures with pseudoknots based on free energy minimization. We first give a brief comparison of energy-based methods for predicting RNA secondary structures with pseudoknots. We then prove that the general problem of predicting RNA secondary structures containing pseudoknots is NP complete for a large class of reasonable models of pseudoknots.

Pseudoknots in RNA Secondary Structures

<p>RNA molecules are sequences of nucleotides that serve as more than mere intermediaries between DNA and proteins, e.g. as catalytic molecules. Computational prediction of RNA secondary structure is among the few structure prediction problems that can be solved satisfactorily in polynomial time. Most work has been done to predict structures that do not contain pseudoknots. Allowing pseudoknots introduce modelling and computational problems. In this paper we consider the problem of predicting RNA secondary structure when certain types of pseudoknots are allowed. We first present an algorithm that in time O(n^5) and space O(n^3) predicts the secondary structure of an RNA sequence of length n in a model that allows certain kinds of pseudoknots. We then prove that the general problem of predicting RNA secondary structure containing pseudoknots is NP-complete for a large class of reasonable models of pseudoknots.</p>

Managing electronic reserves

Digital services can solve some problems facing print‐based academic libraries. They also provide opportunities for librarians to become proactive by adopting pivotal roles in shaping their institutions’ teaching and learning strategies. Digital collections take information outside libraries’ physical confines. As managers of digital information systems, librarians cannot remain mere intermediaries, though some find that digital collections present unwanted learning challenges and threats to current working practices. Librarians must develop new roles and working practices and initiate the cultural changes that will alter others’ perceptions of them. An electronic collection can underpin current pedagogic styles, initiate new teaching and learning practices and support lifelong learning skills through the close collaboration and interchange of professional academic and librarian roles. The potentiality of such collaboration is currently being explored through the expansion of the ResIDe Electronic Library at the University of the West of England, Bristol.

Fast evaluation of internal loops in RNA secondary structure prediction.

Though not as abundant in known biological processes as proteins, RNA molecules serve as more than mere intermediaries between DNA and proteins. Research in the last 15 years demonstrates that RNA molecules serve in many roles, including catalysis. Furthermore, RNA secondary structure prediction based on free energy rules for stacking and loop formation remains one of the few major breakthroughs in the field of structure prediction, as minimum free energy structures and related quantities can be computed with full mathematical rigor. However, with the current energy parameters, the algorithms used hitherto suffer the disadvantage of either employing heuristics that risk (though highly unlikely) missing the optimal structure or becoming prohibitively time consuming for moderate to large sequences. We present a new method to evaluate internal loops utilizing currently used energy rules. This method reduces the time complexity of this part of the structure prediction from O(n4) to O(n3), thus reducing the overall complexity to O(n3). Even when the size of evaluated internal loops is bounded by k (a commonly used heuristic), the method presented has a competitive edge by reducing the time complexity of internal loop evaluation from O(k2n2) to O(kn2). The method also applies to the calculation of the equilibrium partition function. Source code for an RNA secondary structure prediction program implementing this method is available at ftp://www.ibc.wustl.edu/pub/zuker/zuker .tar.Z

An Improved Algorithm for RNA Secondary Structure Prediction

Though not as abundant in known biological processes as proteins,<br />RNA molecules serve as more than mere intermediaries between<br />DNA and proteins, e.g. as catalytic molecules. Furthermore,<br />RNA secondary structure prediction based on free energy<br />rules for stacking and loop formation remains one of the few major<br />breakthroughs in the field of structure prediction. We present a<br />new method to evaluate all possible internal loops of size at most<br />k in an RNA sequence, s, in time O(k|s|^2); this is an improvement<br />from the previously used method that uses time O(k^2|s|^2).<br />For unlimited loop size this improves the overall complexity of<br />evaluating RNA secondary structures from O(|s|^4) to O(|s|^3) and<br />the method applies equally well to finding the optimal structure<br />and calculating the equilibrium partition function. We use our<br />method to examine the soundness of setting k = 30, a commonly<br />used heuristic.

The Efficiency of Financial Systems, Liberalization, and Economic Development

For at least twenty years, mainstream development economists have argued that financial liberalization is the road to higher levels of domestic savings/investment and more efficient allocation of capital. Efficiency is thus clearly associated with a more liberalized, deregulated financial system. This argument, in turn, is implicitly based on the dominant view on the working of financial markets that is, that financial institutions can be pictured as mere intermediaries between savers and investors. Further, the argument also relies on the view that the prices of financial assets reflect the underlying conditions of the final issuers of such assets, a view that has more recently been formalized as the efficient market hypothesis. If financial markets are the loci of allocation of capital, and asset prices are shown to guide savers toward investment with the highest productivity, financial markets are efficient allocators of capital. The aim of this article is to present a critical assessment of the concept of macroeconomic efficiency usually implicit in most mainstream analyses, and, therefore, of the financial liberalization hypothesis. Furthermore, this critical appraisal will be the basis upon which we will attempt to build an alternative Post Keynesian view of the role of the financial system in economic development. Such a view is concerned not so much with answering established questions (such as, Should we liberalize or not, and how rapidly?), as with presenting a set of other relevant, but often forgotten, ques