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See detailShadow Banking in Europe: Idiosyncrasies and their Implications for Regulation
Nabilou, Hossein UL; Prüm, André UL

in European Journal of Risk Regulation (in press)

This paper studies the specificities of the regulation of shadow banking in Europe. It argues that the idiosyncratic features of the EU shadow banking sector call for a different (or indigenized ... [more ▼]

This paper studies the specificities of the regulation of shadow banking in Europe. It argues that the idiosyncratic features of the EU shadow banking sector call for a different (or indigenized) regulatory approach from that of the US. It highlights striking differences between the EU and the US shadow banking sectors based on both market structure and legal micro-infrastructure of the shadow banking sectors in these two jurisdictions. These different institutional and legal infrastructures of the shadow banking activities, instruments, and entities, as well as the different trajectories in the evolution of the banking and shadow banking sectors in terms of business models, size and composition of actors and transactions can be the driving force behind the differential regulatory treatment of shadow banking in the EU and the US. In highlighting the differences between shadow banking across the Atlantic, this paper focuses on the repo markets, as the main instruments and activities that play a significant role in credit intermediation outside the regulatory perimeter of the traditional or regular banking system. It then discusses one specific segment of the shadow banking entities, i.e., Money Market Funds (MMFs), and highlights the fundamental differences in the structure, functioning, and existing regulatory treatment of the MMFs in the US and the EU. The paper concludes that the market structure, business models, as well as legacy legal and regulatory frameworks of shadow banking (as well as banking) display substantial differences in the US and the EU. The findings in this paper rally against one-size-fits-all approaches to addressing the problems of the shadow banking system worldwide and recommends differentiated and more nuanced regulatory approaches to regulating shadow banking across the Atlantic. By implication, any adoption of the US regulatory framework or recommendations of international fora for the shadow banking sector by the EU regulatory authorities should not overlook these differences. [less ▲]

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See detailCentral Banks and Regulation of Cryptocurrencies
Nabilou, Hossein UL; Prüm, André UL

in Review of Banking & Financial Law (in press)

This paper explores the interface between central banks and cryptocurrencies. Focusing on the European Central Bank (ECB), it identifies the potential threats that the rise of cryptocurrencies would pose ... [more ▼]

This paper explores the interface between central banks and cryptocurrencies. Focusing on the European Central Bank (ECB), it identifies the potential threats that the rise of cryptocurrencies would pose to the basic and ancillary tasks of the ECB, in particular, its monetary policy operations and the exercise of its supervisory functions over credit institutions and payment systems. The paper finds that cryptocurrencies can potentially have both direct – through their potential impact on the price stability and monetary policy, and central banks’ monopoly over issuing base money – and indirect effects on central banks, mainly through the institutions and systems that fall under the ECB’s scope of competence. To address the challenges posed by cryptocurrencies, the ECB may take both legal (including supervisory and oversight) measures and non-legal (or technical) measures. With respect to technical measures, the ECB - to the extent falling within the scope of its competence - may focus on improving the efficiency of existing payment systems and addressing the existing frictions in market infrastructures to indirectly affect the cryptocurrency markets. Alternatively, it can venture into issuing Central Bank Digital Currency (CBDC). Regarding legal measures, central banks could envisage regulating cryptocurrencies either directly or indirectly. However, as the most significant potential impact of cryptocurrencies on central banks is likely to be indirect through the impact of cryptocurrencies on the banking and payment systems, and given the limitations on the ECB’s mandate and its regulatory and supervisory tools, it is apposite for the ECB to consider using indirect strategies and tools to influence cryptocurrency markets. This indirect approach can be implemented through the ECB’s existing supervisory and oversight powers over the banking and payment systems. This paper specifies the direct and indirect measures and assesses their merits in addressing the concerns about cryptocurrencies. [less ▲]

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See detailIncorporating trip chaining within online demand estimation
Cantelmo, Guido; Qurashi, Moeid; Prakash, Arun et al

in Transportation Research Procedia (in press)

Time-dependent Origin–Destination (OD) demand flows are fundamental inputs for Dynamic Traffic Assignment (DTA) systems and real-time traffic management. This work introduces a novel state-space framework ... [more ▼]

Time-dependent Origin–Destination (OD) demand flows are fundamental inputs for Dynamic Traffic Assignment (DTA) systems and real-time traffic management. This work introduces a novel state-space framework to estimate these demand flows in an online context. Specifically, we propose to explicitly include trip-chaining behavior within the state-space formulation, which is solved using the well-established Kalman Filtering technique. While existing works already consider structural information and recursive behavior within the online demand estimation problem, this information has been always considered at the OD level. In this study, we introduce this structural information by explicitly representing trip-chaining within the estimation framework. The advantage is twofold. First, all trips belonging to the same tour can be jointly calibrated. Second, given the estimation during a certain time interval, a prediction of the structural deviation over the whole day can be obtained without the need to run additional simulations. The effectiveness of the proposed methodology is demonstrated first on a toy network and then on a large real-world network. Results show that the model improves the prediction performance with respect to a conventional Kalman Filtering approach. We also show that, on the basis of the estimation of the morning commute, the model can be used to predict the evening commute without need of running additional simulations. [less ▲]

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See detailLogic, evidence and consensus: Towards a more constructive debate on gaming disorder.
King, Daniel L.; Delfabbro, Paul H.; Potenza, Marc N. et al

in The Australian and New Zealand journal of psychiatry (in press)

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See detailFusing the Seth-Hill strain tensors to fit compressible elastic material responses in the nonlinear regime
Beex, Lars UL

in International Journal of Mechanical Sciences (in press)

Strain energy densities based on the Seth-Hill strain tensors are often used to describe the hyperelastic mechanical behaviours of isotropic, transversely isotropic and orthotropic materials for ... [more ▼]

Strain energy densities based on the Seth-Hill strain tensors are often used to describe the hyperelastic mechanical behaviours of isotropic, transversely isotropic and orthotropic materials for relatively large deformations. Since one parameter distinguishes which strain tensor of the Seth-Hill family is used, one has in theory the possibility to t the material response in the nonlinear regime. Most often for compressible deformations however, this parameter is selected such that the Hencky strain tensor is recovered, because it yields rather physical stress-strain responses. Hence, the response in the nonlinear regime is in practise not often tailored to match experimental data. To ensure that elastic responses in the nonlinear regime can more accurately be controlled, this contribution proposes three generalisations that combine several Seth-Hill strain tensors. The generalisations are formulated such that the stress-strain responses for in finitesimal deformations remain unchanged. Consequently, the identifi cation of the Young's moduli, Poisson's ratios and shear moduli is not a ffected. 3D fi nite element simulations are performed for isotropy and orthotropy, with an emphasis on the identifi cation of the new material parameters. [less ▲]

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See detailUpdate Internationales und Europäisches Steuerrecht
Sinnig, Julia UL

in Taeger, Jürgen (Ed.) Tagungsband Herbstakademie 2019 (in press)

Im Juni 2019 stellte die Organisation für wirtschaftliche Zusammenarbeit und Entwicklung (OECD) das Arbeitsprogramm zur weiteren Ausarbeitung einer Anpassung des internationalen Ertragsteuerrechts an die ... [more ▼]

Im Juni 2019 stellte die Organisation für wirtschaftliche Zusammenarbeit und Entwicklung (OECD) das Arbeitsprogramm zur weiteren Ausarbeitung einer Anpassung des internationalen Ertragsteuerrechts an die neue wirtschaftliche Realität der digitalisierten Welt vor. Auf Ebene der Europäischen Union (EU) gilt die Verabschiedung der im März 2018 von der Europäischen Kommission vorgestellten Richtlinien-Vorschläge (RL-Vorschläge) zu einer Digitalsteuer und einer sog. signifikanten digitalen Präsenz, nach intensiver Diskussion im Rat, als unwahrscheinlich. Der Gerichtshof der Europäischen Union beschäftigt sich derzeit mit der unionsrechtlichen Vereinbarkeit nationaler Sonderabgaben, die umsatzbasiert erhoben werden. Dieser Beitrag bietet einen Überblick über wesentliche Entwicklungen im internationalen und europäischen Steuerrecht bzgl. der Besteuerung digitalisierter Unternehmen. Der Beitrag knüpft an den Vortrag von Prof. Dr. Jens M. Schmittmann und der Verfasserin anlässlich der Herbstakademie 2018 in Bochum, sowie dem Vortrag der Verfasserin anlässlich der Herbstakademie 2017 in Heidelberg an. [less ▲]

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See detailFamiliale Generationsbeziehungen (international)
Albert, Isabelle UL; Schwarz, Beate; Mayer, Boris et al

in Ecarius, Jutta; Schierbaum, Anja (Eds.) Handbuch Familie: Bildung, Erziehung und sozialpädagogische Arbeitsfelder (in press)

Der vorliegende Beitrag beschäftigt sich mit intergenerationalen Familienbeziehungen im Kulturvergleich. Nach einer Einführung in grundlegende theoretische Modelle und Forschungstraditionen werden im ... [more ▼]

Der vorliegende Beitrag beschäftigt sich mit intergenerationalen Familienbeziehungen im Kulturvergleich. Nach einer Einführung in grundlegende theoretische Modelle und Forschungstraditionen werden im zweiten Teil Forschungsprojekte und -ergebnisse zur Ausgestaltung von Generationsbeziehungen in verschiedenen kulturellen Kontexten und im Zusammenhang mit Migration aufgezeigt sowie die Bedeutung von gesellschaftlichen Rahmenbedingungen für die Ausgestaltung von familiären Generationsbeziehungen dargelegt. [less ▲]

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See detail“That’s a value I would transmit in some way, but how concretely, I don’t know” – Intergenerational value transfer revisited in light of memory
Albert, Isabelle UL; Barros, Stephanie; Boulanger, Dany

in Wagoner, Brady; Bresco, I.; Zadeh, S. (Eds.) Memory in the Wild (in press)

Intergenerational value transmission occurs widely and to a large extent within the family as primary socialization agent. In families, children are confronted with specific practices, paradigms, rules ... [more ▼]

Intergenerational value transmission occurs widely and to a large extent within the family as primary socialization agent. In families, children are confronted with specific practices, paradigms, rules and routines which are part of their family culture (Albert & Barros Coimbra, 2017) and as such family is a mediator between societal/cultural and individual values. The ability to transmit values is essential for collective knowledge and memory, the continuity of value orientations being a main feature of intergenerational relations that enables members of different generations to communicate with each other (Barni, Rosnati, & Ranieri, 2013; Halbwachs, 1941/1992; Schönpflug, 2001). Intergenerational transmission of values becomes particularly complex in the context of migration or in times of rapid social change. On the one hand, family identity and traditions might provide a secure base in light of a changing context, and parents might find it important to transmit traditional values to the next generation in order to keep memories alive. At the same time, they might feel that their children should adapt to the changed cultural context, resulting in a (not always clear) dilemma about what they want for their children. How can migrant parents reconcile or move between the different collective frameworks of their culture of origin and the receiving culture (Middleton & Brown, 2005)? In the following, we will first give a brief overview over research in the area of intergenerational value transmission, and we will second illustrate and further inform our theoretical assumptions by identifying related themes and phenomena in our qualitative dyadic interviews. Then, we will delve into memory as a horizon that is emerging out of the analysis as a transversal theme. From this point of view, we continue the analysis and progressively integrate the notions pertaining to the role of memory in the intergenerational transmission of values. Aspects of cultural background are apparent in the excerpts that we will quote supporting the themes we will refer to. We will more explicitly return to this in our conclusions. [less ▲]

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See detailZwischen Konformität und Handlungsmacht: Ein Blick auf die Verarbeitungspraxis von Qualitätsvorgaben in der Offenen Kinder- und Jugendarbeit
Biewers, Sandra UL

in Deinet, Ulrich; Sturzenhecker, Benedikt (Eds.) Handbuch Offene Kinder- und Jugendarbeit (in press)

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See detailQualitätskonstruktionen - Zur Verarbeitung divergierender Qualitätsanforderungen in der Jugendarbeit
Biewers, Sandra UL

Book published by Beltz Juventa (in press)

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See detailBrentanos Klingding. Eine Kulturpolitik der Buchstäblichkeit in der Romantik
Dembeck, Till UL

in Geisenhanslüke, Achim (Ed.) Buchstäblichkeit (in press)

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See detailDisrupted Fear and Sadness Recognition in Binge Drinking: A Combined Group and Individual Approach.
Lannoy, Severine; Benzerouk, Farid; Maurage, Pierre et al

in Alcoholism, clinical and experimental research (in press)

BACKGROUND: Binge drinking is a harmful pattern of alcohol consumption, associated with cognitive and cerebral impairments. Indeed, various cognitive processes have been identified as disrupted in binge ... [more ▼]

BACKGROUND: Binge drinking is a harmful pattern of alcohol consumption, associated with cognitive and cerebral impairments. Indeed, various cognitive processes have been identified as disrupted in binge drinking, ranging from perceptive to executive functions, but emotional processes have conversely been little investigated. Particularly, it is unclear to what extent binge drinkers (BD) present difficulties to recognize and categorize the emotions expressed by other individuals. Such an exploration would, however, offer a more comprehensive view of the deficits associated with alcohol-related disorders and potentially involved in the maintenance of this harmful habit. METHODS: Fifty-two BD and 42 control participants performed an emotional task assessing the ability to recognize 6 basic emotions (i.e., anger, contempt, disgust, fear, happiness, and sadness). Accuracy score and detection threshold were collected for each emotion. To explore the extent of emotion recognition difficulties, 2 analyses were conducted: (i) classical repeated measures analyses of variance, to compare groups' performance, and (ii) multiple single-case analyses (i.e., Crawford's t-tests), to determine the percentage of BD presenting genuine emotion recognition deficits. Correlations were also performed between alcohol consumption characteristics and emotional recognition scores. RESULTS: BD presented reduced performance for the recognition of fear and sadness. Multiple single cases highlighted that these deficits respectively concerned 21.15 and 15.38% of the binge drinking sample, and the relation between binge drinking and reduced sadness detection was supported by correlational analyses. CONCLUSIONS: These findings show that binge drinking is associated with a disrupted processing of emotional stimuli. By identifying heterogeneity in the impairments presented by BD, the present results also underline the usefulness of a combined group and individual approach. [less ▲]

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See detailSuicide Prevention: Using the Number of Health Complaints as an Indirect Alternative for Screening Suicidal Adolescents
Heinz, Andreas UL

in Journal of Affective Disorders (in press)

Background: Suicide is the second leading cause of death in adolescents. Screening for persons at risk usually includes asking about suicidal ideation, which is considered inappropriate in some societies ... [more ▼]

Background: Suicide is the second leading cause of death in adolescents. Screening for persons at risk usually includes asking about suicidal ideation, which is considered inappropriate in some societies and situations. To avoid directly addressing suicide, this paper investigates whether the Health Behaviour in School-aged Children Symptom Checklist (HBSC-SCL), a validated non-clinical measure of eight subjective health complaints (e.g. headache, feeling low), could be used as a tool for screening suicidal ideation and behavior in adolescents. Methods: 5262 secondary school students aged 12-18 answered the Luxembourgish HBSC 2014 survey, including the HBSC-SCL items and suicidal ideation and behavior questions. Results: Each HBSC-SCL item correlates with suicidal ideation and behavior. A sum score was calculated ranging from zero to eight health complaints to predict respondents who considered suicide (area under the ROC curve = .770). The ideal cut-off for screening students who consider suicide is three or more health complaints: sensitivity is 66.3%, specificity is 75.9% and positive predictive value is 32.9%. Limitations: One limitation is HBSC-SCL's low positive predictive value. This is a general problem of screening rare events: the lower the prevalence, the lower the positive predictive value. Sensitivity and specificity could be improved by taking age-, gender- and country-specific cut-off values, but such refinements would make the score calculation more complicated. Conclusions: The HBSC-SCL is short, easy to use, with satisfactory screening properties. The checklist can be used when suicide cannot be addressed directly, and also in a more general context, e.g. by school nurses when screening adolescents. [less ▲]

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See detailA Look into Privacy-Preserving Blockchains
Khan, Nida UL; Nassar, Mohamed

in IEEE BCA @AICCSA 2019 - Workshop on Blockchain and it's Applications (in press)

Blockchain is a revolutionary technology promising a new generation of decentralized, transparent and tamper-proof database systems. However, one of the main challenges of the emerging blockchain systems ... [more ▼]

Blockchain is a revolutionary technology promising a new generation of decentralized, transparent and tamper-proof database systems. However, one of the main challenges of the emerging blockchain systems remains to address data privacy. While in Bitcoin and similar e-cash systems, privacy was limited to anonymity and addressed by using cryptographic pseudonyms for identification and authentication of parties, the question of privacy has more breadth in systems maintaining actual data such as medical records or energy meters. In this paper, we look into recently proposed privacy-preserving blockchains, analyze their strengths and weaknesses, and highlight research questions requiring future investigation. We conclude that privacy-preserving blockchains are still in their infancy and more research is definitely needed in this area. [less ▲]

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See detailFeasibility of Stellar as a Blockchain-based Micropayment System
Khan, Nida UL; Ahmad, Tabrez; State, Radu UL

in Springer SmartBlock 2019 - 2nd International Conference on Smart Blockchain (in press)

The advent of Bitcoin was heralded as an innovation in the global monetary system, that could bring down transaction fees by circumventing the need for third parties and conduct transactions in real time ... [more ▼]

The advent of Bitcoin was heralded as an innovation in the global monetary system, that could bring down transaction fees by circumventing the need for third parties and conduct transactions in real time. The divisibility of a blockchain cryptocurrency to even fractions of a cent, caused microtransactions to become feasible to formerly non-existent denominations. These microtransactions have spurred the development of novel ways of monetizing online resources and hold the potential to aid in alleviation of poverty. The paper conducts a feasibility study on Stellar as a blockchain-based micropayment system. It highlights the computational and other issues that impedes its progress and utilizes a characterization model for micropayment systems to evaluate the efficacy of the Stellar platform. The paper conducts a comparison with the micropayment solutions from Bitcoin, Ethereum and PayPal. The paper analyzes a subset of transactions from the Stellar blockchain to aid in drawing a conclusion on the undertaken study and elaborates on the mitigation tools to enable fraud prevention in online monetary transactions. [less ▲]

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See detailClemens Brentano’s “Sound-Thing” (Klingding). Homophonic Translation in German Romanticism
Dembeck, Till UL

in Weissmann, Dirk; Broqua, Vincent (Eds.) Sound / Writing: traduire-écrire entre le son et le sens / Homophonic translation – traducson – Oberflächenübersetzung (in press)

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See detailInnovation Search Strategy and Predictable Returns
Fitzgerald, Tristan; Balsmeier, Benjamin UL; Fleming, Lee et al

in Management Science (in press)

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See detailExperimental and analytical analysis of the load-bearing capacity Pu of improved dry-stacked masonry
Chewe Ngapeya, Gelen Gael UL; Waldmann, Danièle UL

in Journal of Building Engineering (in press)

Dry-Stacked Masonry (DSM) as structural load-bearing element is still unexploited because of many factors including the early face-shell cracking, the impacts of the block imperfections on the wall load ... [more ▼]

Dry-Stacked Masonry (DSM) as structural load-bearing element is still unexploited because of many factors including the early face-shell cracking, the impacts of the block imperfections on the wall load-bearing capacity (Pu) and the lack of design code safely predicting Pu. Through experimental tests, this paper investigates a strategy for improving Pu of DSM by placing an additional horizontal contact layer on the top face of raw DSM blocks. The effect of four mixtures used to improve the raw DSM blocks has been investigated. Further, a mathematical model predicting Pu is proposed which takes into account the effects of the block imperfections. In the course of the investigation, 20 DSM wallets and 25 DSM prisms built with raw and improved DSM blocks were tested to failure under axial compression. In the former, the face-shell cracking load (Pcrack) and the load-bearing capacity (Pu) were recorded, while in the latter, the actual contact area was recorded in hundred full bed-joints using Prescale Fujifilm strips. The results showed that a contact layer of well-defined properties increased the actual contact area from 23% to 55% and improved Pu by 31,9%. The mathematical model for the raw DSM blocks predicts Pu with a mean accuracy of 93% and a standard deviation of 12% where the standards EN 1996-1-1 for mortared masonry exhibited a mean accuracy of 137% and a standard deviation of about 29%. Concerning the improved DSM blocks, the proposed model predicts Pu with a mean accuracy of 106% and a standard deviation of 10%, whereas the standards EN 1996-1-1 presents a mean accuracy of 124% and a standard deviation of 9%. [less ▲]

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See detailP3LS : Plausible Deniability for Practical Privacy-Preserving Live Streaming
Decouchant, Jérémie UL; Boutet, Antoine; Yu, Jiangshan et al

Scientific Conference (2019, October)

Video consumption is one of the most popular Internet activities worldwide. The emergence of sharing videos directly recorded with smartphones raises important privacy concerns. In this paper we propose ... [more ▼]

Video consumption is one of the most popular Internet activities worldwide. The emergence of sharing videos directly recorded with smartphones raises important privacy concerns. In this paper we propose P3LS , the first practical privacy-preserving peer-to-peer live streaming system. To protect the privacy of its users, P3LS relies on k-anonymity when users subscribe to streams, and on plausible deniability for the dissemination of video streams. Specifically, plausible deniability during the dissemination phase ensures that an adversary is never able to distinguish a user’s stream of interest from the fake streams from a statistical analysis (i.e., using an analysis of variance). We exhaustively evaluate P3LS and show that adversaries are not able to identify the real stream of a user with very high confidence. Moreover, P3LS consumes 30% less bandwidth than the standard k-anonymity approach where nodes fully contribute to the dissemination of k streams. [less ▲]

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See detailTime-Deconvolutive CNMF for Multichannel Blind Source Separation
Dias, Thadeu; Biscainho, Luiz Wagner; Alves Martins, Wallace UL

in Anais do XXXVII Simpósio Brasileiro de Telecomunicações e Processamento de Sinais (SBrT 2019) (2019, September)

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