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AbstractThe low beta anomaly is well documented for equity markets. However, the existence of such a factor in corporate bond markets is less explored. I find that European corporate bonds of firms with a low equity beta have higher risk‐adjusted returns, on average, than European corporate bonds of firms with a high equity beta. The results are economically and statistically significant as low beta credit portfolios improve the Sharpe ratio up to 30%. Moreover, even after accounting for transaction costs and by considering long‐only portfolios, the risk‐adjusted return remains substantial indicating practical implementability of the strategy for corporate bond investors.

The rationale behind the applicability of human rights treaties to foreign surveillance is the subject of debate. Presented with the opportunity to weigh in on this issue in the case of Big Brother Watch and Others v The United Kingdom, the European Court of Human Rights simply assumed (and rightly so) that the European Convention on Human Rights applies, providing no further reasoning. This article explores the challenges that arise with establishing jurisdiction over foreign surveillance under human rights treaties, and argues for an alternative base for extraterritorial jurisdiction grounded in the moral and theoretical principles underlying the human rights regime.

AbstractThis article outlines and estimates a measure of underlying efficiency in electricity consumption for an unbalanced panel of 27 transition economies and 6 European OECD countries between 1994 and 2007. A Bayesian Generalized True Random Effects stochastic frontier model with persistent and transient inefficiency is considered by estimating an aggregate electricity demand function that leads to consumption efficiency scores, giving further insights than a simple analysis of energy intensity. There is evidence of convergence between the CIS countries and a block of Eastern European and OECD countries, although other country groups do not follow this tendency, such as the Balkans.

The "Star-Inner Disk-Planets Interactions" (SPIDI) project aims at detecting nascent inner planets still embedded in the circumstellar disk of young stars and orbiting close to the magnetospheric truncation radius. The poster will describe the motivations and recent progresses that led to the SPIDI project and the approaches that we will follow to address the challenge of isolating a planetary signal buried in the large variability of young stars induced by the magnetic star-disk interaction. This project has received funding from the European Research Council (ERC) under the European Union's Horizon 2020 research and innovation programme (grant agreement No 742095)

On Wednesday, September 12, 2018 the European Parliament voted in favor of a new copyright directive. This vote occurred two years after the European Commission put forth their proposal in 2016. There has been tremendous controversy over this reform that resulted in the issue going viral on social media. It even sparked its own website and organization promoting awareness of the changes and encouraging citizens to write to their MEPs expressing their opposition. This post was originally published on the Cardozo Arts & Entertainment Law Journal website on September 29, 2018. The original post can be accessed via the Archived Link button above.

This paper studies the political and economic evolution of trade and international relations of the nations and regions of Asia between themselves and the rest of the world over the past millennium, paying particular attention to: the Pax Mongolica and overland trade during the Middle Ages; the European intrusion at the turn of the fifteenth century and the impact of the New World; the spread of European imperialism and the rise of nationalism and the achievement of independence. A final section discusses the comparative evolution of Europe and Asia and the question of why the Industrial Revolution did not first occur in Asia.

This Key Country report focuses on electoral registration and turnout in Sweden, where the most recent general election was held on 9 September 2018. It provides a historical perspective on patterns of electoral registration and turnout among foreign-born voters (non-citizens and Swedish citizens) in local and regional elections. ; This report was funded by the European Union's Rights, Equality and Citizenship Programme (2014-2020). The content of this report represents the views of the author only and is his/her sole responsibility. The European Commission does not accept any responsibility for use that may be made of the information it contains.

Academic international mobility and intra-European highly skilled migration are consolidated trends. Strongly stimulated by EU policies, the opportunities are highly dynamic, and circulation through different jobs and countries is a striking feature of the academic community. However, for a fragile economy and scientific system as the Portuguese ones, those trends are synonyms of brain drain, particularly in times of Eurozone crisis. In order to question the place of the economic crisis on scientists' migration decision-making process, and considering that academic mobility is often associated with individual career perspectives and encouraged by European policies, five individual portraits are analysed.

The School of Pharmacy, University of Oslo is gratefully acknowledged for a Ph.D. scholarship to K.G.P. The Norwegian Research Council (FRIPRO/FRINATEK 230470) is gratefully acknowledged for funding to T.V.H. J.D. received funding from the European Research Council (ERC) under the European Union's Horizon 2020 research and innovation program (grant no. 677542) and the Barts Charity (grant no. MGU0343). J.D. is also supported by a Sir Henry Dale Fellowship jointly funded by the Wellcome Trust and the Royal Society (grant no. 107613/Z/15/Z). This work is also supported by a Wellcome Trust Infrastructure (grant no. 101604/Z/13/Z).

The article analyses and compares two main concepts in the field of civic education: education for democratic citizenship (EDC), prevailing in European discourse, and global citizenship education (GCE), dominant in international organisations like UNESCO. The concepts and their content are presented and analysed, and the need for the shift to the GCE is illustrated by some global tendencies and serious challenges of the global world. The responsibility to include GCE into the European concept of civic education is pointed out, as well as the challenges GCE is facing within the policy and implementation of the global agenda, SDG 4 and Education 2030.

Part of this research was supported by the Regional Government of Asturias, Grant for Excellence Groups GRUPIN-2014-093. Sara Ferrnandez has received funding from the European Union's Horizon 2020 Research and Innovation program under Grant Agreement No 689682 AMBER (Adaptative management of barriers in European rivers) project. Alba Ardura holds an incorporation-Juan de la Cierva fellowship. Laura Clusa holds a PCTI Grant from the Asturias Regional Government, referenced BP14-145. There was no additional external funding received for this study. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.

Based on a newly constructed multi-country input-output table including all European countries, we estimate the economic effects of the EU accession countries entering the 'Stabilisation and Association Agreement' (SAA) with the EU and the potential effects of joining the European Single Market applying a structural gravity framework. The results point towards strong positive effects on trade for the SAA countries, but only small effects for the EU Member States. Conducting a counterfactual analysis, the paper gives an indication of the magnitude of the positive impacts on GDP for these countries. In addition, a detailed industry breakdown of these effects is provided.

In June 2018, an agreement between key EU institutions – the Commission, the European Parliament, and the European Council – was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a comprehensive assessment of the EU package, with its three main targets: lower greenhouse gas emissions, higher renewable share in final energy consumption, and improved energy efficiency. We find that the renewable and energy-efficiency targets have been set so high that the derived emissions reduction exceeds the EU climate target. Hence, carbon prices are redundant in reaching the EU climate goal. This policy, however, is not cost efficient.

Public Service Obligations are a key mechanism for countries to improve connections among islands and remote regions with the Continent. While Public Service Obligations are allowed by the European Commission, they represent an interference with free market competition, and impact on the entrance of competitors, prices and service frequency. This study employs Canarian air market data for 2002-2015 to econometrically evaluate the effects of two changes in European policy on the number of passengers transported. The results point to the need to make market access more flexible to benefit society by generating increases in the volume of passengers moved.

No 2018/1 n European and international tax law review BRUYLANT 7 n Presentation of dossier No DOSSIER n Presentation of the dossier Contribution to the definition of the new problems of tax inspection ; International audience ; No 2018/1 n European and international tax law review BRUYLANT 7 n Presentation of dossier No DOSSIER n Presentation of the dossier Contribution to the definition of the new problems of tax inspection ; N° 2018/1 n Revue européenne et internationale de droit fiscal BRUYLANT 7 n Présentation du dossier n DOSSIER n Présentation du dossier Contribution à la définition des nouvelles problématiques du contrôle fiscal