The consistency and predictability of regulation is thought to be highly important for costly investment decisions. When the government lacks commitment power to maintain a promised policy, and firms are not perfectly competitive, investment levels are typically lower than when the government can commit. However, flexibility in policymaking is beneficial in that it allows for adjustment when co...

International transfer pricing is pervasive in that it can apply to all manner of goods, services, finance and intangible assets which flow between members of a group located in different parts of the world. Fiscal authorities in many countries are modernising their legislation to ensure they collect a fair amount of corporate tax revenue from companies operating within their jurisdiction. Howe...

Modifying the proof of a theorem of Wilkie, it is shown that if a one dimnsional set S is definable in an O minimal expansion of the ordered field of the reals, and if it is regularly exponentially near to many integral points, then there is an unbounded set, which is R definable without parameters, and which is exponentially near to S.

In this article we will describe some of the main developments in interest-rate modelling since Black & Scholes’ (1973) and Merton’s (1973) original articles on the pricing of equity derivatives. In particular, we will focus on continuoustime, arbitrage-free models for the full term structure of interest rates. Other models which model a limited number of key interest rates or which operate in ...

The Australian approach to tobacco control has been a comprehensive one, encompassing mass media campaigns, consumer information, taxation policy, access for smokers to smoking cessation advice and pharmaceutical treatments, protection from exposure to tobacco smoke and regulation of promotion. World-first legislation to standardise the packaging of tobacco was a logical next step to further re...

A large literature has focused on labour market institutions as a reason for slow growth in Europe. How important have product market regulations been? Recent work has shown that less regulation encourages investment, increases employment and leads to faster productivity growth. Empirical work at the firm level, within individual countries, suggests that the impact may differ in important ways ...

The EU REACH legislation for chemicals of 2006 represents the largest investment into consumer product safety ever. A reanalysis of cost and animal use estimates was carried out based on the final legislation, test guidance for industry published by the European Chemical Agency, and the preregistration completed in December 2008. The new estimates for the number of substances falling under REAC...

T he importance of clinical trials in children in providing a scientific evidence base for drug therapy is accepted by health professionals, regulatory authorities, the pharmaceutical industry, and the parents of children. Legislation in the USA alongside government investment in research has resulted in a significant increase in paediatric clinical trials in North America. European legislation...

OBJECTIVE Approximately one in five children and adolescents (CA) suffer from mental disorders. This paper reports on the findings of a situational analysis of CA mental health policy and services in Ghana, Uganda, South Africa and Zambia. The findings are part of a 5 year study, the Mental Health and Poverty Project, which aims to provide new knowledge regarding multi-sectoral approaches to br...