Absolute Pollution: Exclusion Update

This article reviews court decisions from 2001 and 2002 discussing the absolute pollution exclusion in the context of property damage, bodily injury claims, and other types of harm. In recent cases, courts have consistently found the absolute pollution exclusion to be clear and unambiguous, excluding coverage for “environmental” and other types of property damage claims. However, there is a split of authority and inconsistency in how courts analyze and interpret the absolute pollution exclusion when bodily injury claims are at issue. The analysis and court rulings are often determined by the specific policy language as applied to the facts in the cases.     

Measuring the correlation of shocks between the EU15 and the new member countries

This paper considers the question of the symmetry of inflation, exchange rate changes and GDP shocks between the EU15 and the new member countries. It applies a relatively new technique, the orthogonal GARCH model, which allows us to calculate a complete time varying correlation matrix for these countries. We can then examine the way the conditional correlation of shocks between the EU15 and the new member countries has been evolving over time. Our results suggest that the shocks which hit the EU are not symmetrical with those affecting the majority of new member countries. In addition, most of the new member countries seem to exhibit relatively low correlation with EU15.     

Beautiful Day: Awakening to Responsibility

Recently published works, such Elaine Scarry's On Beauty and Being Just, have suggested the natural confederacy of the sensory appreciation of beauty and the achievement of social justice. Scarry (amongst others) has proposed that the opiated moment in which one is arrested by beauty's spell results in a ‘radical decentrification’, where under they who behold beauty are awakened to alterity and, consequentially, encouraged to realize an ethical agenda based upon just (sic) relations between people. The present article refutes the adequacy of the beauty - ethics - justice triptych and, instead, proposes that the entire variegated aesthetic quantum operates as the medium through which recognition of (in)justice reminds us of our responsibility to the other. As essentially inarticulate concepts, justice and responsibility are capable of ‘speaking’ to us through the channel of the aesthetic. The aesthetic is the plane of dialogue on which our felt appreciation of (in)justice prompts us to responsibility. This revised version was published online in July 2006 with corrections to the Cover Date.