Le Conseil de sécurité a récemment adopté une « exemption humanitaire » générale pour l’ensemble des régimes sanctions l’ONU. Celle-ci était réclamée depuis nombreuses années par les organisations humanitaires, du fait effets délétères sur leur capacité d’action. Cette exemption, unique en son genre, marque donc un tournant majeur dans la conciliation d’impératifs sécuritaires et humanitaires l...

Thirty-three states treat in-state municipal bond interest income differently from out-of-state municipal bond interest income. While they tax the interest income of out-of-state bonds, they exempt interest income of in-state bonds from state taxes. This differential treatment in taxes creates a demand for in-state bonds and provides a disincentive for holding out-of-state bonds. A priori, this...

On September 4, 2002, the SEC implemented a de minimis exemption to the trade-through rule for three active ETFs, allowing markets to execute trades at prices up to three cents worse than those posted elsewhere. Relaxing the trade-through rule does not worsen ETF market quality. Effective and realized spreads are essentially unchanged or slightly smaller post-event, and prices become slightly m...

This paper investigates the relationship between bankruptcy exemptions and the availability of credit for mortgage and home improvement loans. We develop a combined model of debtors’ decisions to file for bankruptcy and to default on their mortgages and show that the theory predicts positive relationships between both the homestead and personal property exemption levels and the probability of b...

All the discussion at the moment is about the failing support around Europe for the very English remedy of the anti-suit injunction. Europe is determined to get rid of the remedy, very much maligned and misunderstood, even if it means construing the exemption in the Brussels Regulation 44/2001 (Brussels Regulation) in unrecognisable fashion. Of course, the arbitration exemption was not inserted...

We consider the problem of distributing the liquidation value of a bankrupt firm among its creditors. Herrero and Villar [TOP 10 (2002) 261; Mathematical Social Sciences 42 (2001) 307] show that (i) the constrained equal awards rule is the only rule satisfying sustainability and composition down, and that (ii) it is the only rule satisfying exemption, composition down, and bilateral consistency...

In this paper, we investigate the nexus between life insurance and suicide behavior using OECD cross-country data from 1980 to 2002. Through semiparametric instrumental variable regressions with fixed effects, we find that for the majority of observations, there exists a positive relationship between suicide rate and life insurance density (premium per capita). Since life insurance policies pay...

number, and only one of them directly applies to doctors. That is in the African possession known as the Tanganyika Territory. It must have progressed far along the pathway of civilization, for it has an income tax law of its own. It may be inferred that doctors are at a premium there, for the attraction is held out to them that they will be charged no income tax on their professional gains. Th...

Enhanced environmental quality, fuel security, and economic development along with reduced prices of ethanol–gasoline blends are often used as justifications for the U.S. federal excise tax exemption on ethanol fuels. However, the possible effect of increased overall consumption of fuel in response to lower total price, mitigating the environmental and fuel security benefits, are generally not ...