Foreign exchange interventions in a small emerging market: the case of Croatia

This paper studies the impact of daily official foreign exchange interventions on the exchange rates in Croatia for the period from 1996 to 2004. Using the event study methodology and a variety of GARCH models reveals that the Croatian central bank was in a position to influence, to some extent, the level of the exchange rate during the period studied. This lends support to the view that foreign exchange intervention may be effective in emerging market economies.     

Comparative analysis of the effects of alcoholic drinks of different qualities (author's transl)

The authors compared the effects of alcoholic drinks rich in fusel oil with the effects of diluted pure alcohol of the same quantity on 19 clinically healthy university students. The investigations utilized EEG and physiopsychic testing methods. The clinical symptoms were observed both under the effect of drinks and in a crapulous state ("hang-over"). It was found that alcoholic drinks rich in fusel oil can produce a more deviating EEG curve, an increased worsening of physiopsychic performance and of clinical and subjective symptoms. The necessity of regular quality control of alcoholic beverages is pointed out.     

Umbau des Sozialstaates? Österreich und Deutschland im Vergleich

In comparative analysis of welfare states, there is a consensus that mature welfare state systems have been confronted, for some considerable time, with substantial pressure towards re-structuring and that, as a result, they actually have undertaken several and varied modifications. This articles aims at exploring and analysing these developments in Austria and Germany from a comparative point of view. The analysis concentrates on two vital fields of social policy: old-age insurance and unemployment insurance. Especially in respect of the development of social policy and regarding important characteristics of the two welfare state systems, both countries traditionally show a large degree of resemblance to each other. Many similarities remained to exist during the phase of growing pressures on the welfare state, whereas at the same time it is evident that differences between the two countries increased. The respective actual developments will be interpreted in the light of corresponding theories of comparative welfare state research and classified as gradual and structural changes.     

Is the allocation of voting power among EU states fair?

It has often been claimed that the current allocation of votes among EU states is not fair. In this paper we verify this assertion by carrying out an evaluation of the distribution of power among the member states. The results show that the current distribution of votes for the qualified majority does not lead to a fair distribution of power whatever definition of the EU is considered. It can not be claimed however that the current voting process has a systematic bias in favor of certain states. We also present a simple method to derive voting weights which lead to a fair allocation of power.     

Why Have Chinese Reforms Come to a Halt? The Political Economic Logic of Unfinished Transformation

This study approaches the Chinese reform process from a political-economic point of view, focusing primarily on institutional changes. Besides revealing the main factors behind the different phases of the reforms, it argues that in the framework of the current authoritarian regime, vested interests work against the continuation of the reforms, making it impossible to fully establish the institutional framework of a market economy. Current rents and privileges also deter the elite from implementing serious political reforms, leading to a trap that prevents the completion of the transition process.     

Miscarriages of Justice and the Discourse of Innocence: Perspectives from Appellants,Campaigners, Journalists,and Legal Practitioners

This article problematizes the discourse of innocence in relation to victims of wrongful conviction operating within the criminal justice system. For appellants whose convictions have been quashed by the Court of Appeal, notions of innocence are often at odds with how others perceive and understand the purpose of criminal trials and appeals. This article will examine the views of legal practitioners, journalists, and victims of wrongful conviction and their supporters regarding factual innocence and how misunderstanding can sometimes lead to miscommunication by actors operating within the same system. The article will further examine the issue of compensation in light of the recent ruling by the Supreme Court and conclude that the current debate regarding what constitutes a miscarriage of justice continues to confuse legal practitioners and prolong the anxiety suffered by victims recovering from the trauma of wrongful imprisonment and subsequent losses.