A panel data analysis of code-sharing,antitrust immunity,and open skies treaties in international aviation markets

This paper estimates the effects of code-sharing, antitrust immunity, and Open Skies treaties on prices, output, and capacity using an eleven-year panel of U.S.-Europe data. Code-sharing and immunized alliances are found to have significantly lower prices than does traditional interline (multi-carrier) service, but the effects are smaller in magnitude than those found in previous results that rely on cross-sectional data. Statistical tests that prices for immunized alliance service are equal to online (single carrier) service often cannot be rejected, providing additional evidence that immunity grants allow immunized carriers to internalize a double marginalization problem. Estimated output effects, consistent with the price effects, show that alliances are associated with large increases in passenger volumes. Lastly, estimates suggest that capacity expansions associated with “Open Skies” treaties are due entirely to expansion by immunized carriers on routes between their hubs. I would like to thank the editor and an anonymous referee for their helpful comments. The views expressed in this paper do not reflect those of the US Department of Justice. All errors are my own     

Banking sector reactions to COVID-19: The role of bank-specific factors and government policy responses

This paper examines the impact of bank-specific factors and variations in the context of stringency of government policy responses on bank stock returns because of the COVID-19 pandemic. A sample of 1,927 publicly listed banks from 110 countries is used for the period of the first major wave of COVID-19, that is, January to May 2020. Our findings indicate that stock returns of banks with higher capitalization and deposits, more diversification, lower non-performing loans, and larger size are more resilient to the pandemic. While banks’ environment and governance scores do not have a significant impact, higher social and corporate social responsibility strategy scores intensify the negative stock price reaction to COVID-19. We further observe that the pandemic-induced reduction in bank stock prices is mitigated as the strictness of government policy responses increases, mainly through economic responses such as income support, debt and contract relief, and fiscal measures from governments.     

美藤果油增强免疫力的试验研究

为探究美藤果油对免疫力的增强作用,选用雄性健康Wistar大鼠20只,雄性高血脂Wistar大鼠20只,体重(200±10)g,按照随机法将健康Wistar大鼠分为实验1组和对照1组,将雄性高血脂Wistar大鼠分为实验2组和对照2组,每组10只。对照1、2组大鼠使用普通大鼠饲料;实验1、2组大鼠在对照组基础上,每百克饲料中混合7 g美藤果油,连续饲养10周后进行免疫力检测。结果表明:4组大鼠均未出现死亡,且通过观察发现实验1组大鼠活力及精力均强于其他大鼠,且对照2组大鼠的精力及活力最差;实验1组淋巴细胞刺激指数、IL-2、IL-4的含量显著高于实验2组、对照1组及对照2组(P0.05),实验2组与对照1组大鼠则不存在显著性差异(P0.05),对照2组大鼠显著低于实验2组(P0.05)。由此可知,美藤果油具有增强免疫力的功能,值得推广食用。     

喹诺酮类抗生素联合前列舒通胶囊对慢性细菌性前列腺炎患者的疗效及对免疫炎症指标的影响

目的探讨喹诺酮类抗生素联合前列舒通胶囊对慢性细菌性前列腺炎患者的疗效及对免疫炎症指标的影响。方法选取2020年3—6月在中一东北国际医院有限公司接受治疗的92例CBP患者作为研究对象,按随机数字表法分为观察组与对照组,各46例。对照组给予喹诺酮类药物治疗,观察组在对照组治疗基础上另服用前列舒通胶囊。比较两组疗效,治疗前及治疗2个月后的免疫指标(CD3+、CD4+、CD8+),以及炎症介质[超敏C-反应蛋白(hs-CRP)、肿瘤坏死因子-α(TNF-α)及白细胞介素-6(IL-6)]。结果观察组治疗有效率是97.83,明显高于对照组的82.61%(P<0.05)。治疗后两组CD3+、CD4+及CD8+水平明显高于治疗前,且观察组明显高于对照组,差异有统计学意义(P<0.05)。治疗后,两组hs-CRP、TNF-α及IL-6水平明显低于治疗前,且观察组低于对照组,差异有统计学意义(P<0.05)。结论喹诺酮类抗生素联合前列舒通胶囊对CBP患者的疗效较好,还可优化机体的免疫炎症指标。     

非植入式医用电气设备EMC要求和试验解析

介绍了我国非植入式医用电气设备电磁兼容标准Y Y 0505-2012的技术要求,对不同结构及工作原理的医用设备的公共电网保护、无线电业务保护和抗扰度要求进行详细的剖析,强调了不同类型的医用设备需要满足的国家标准、EM C 测试项目及在符合性测试中使用的测试设备的要求,对即将开展医用设备EM C 检测的实验室及相关生产企业有较好的参考意义。     

关于中央银行财产在外国法院豁免问题的探讨

国际上对外国中央银行财产的豁免主要有三种做法,一是整体豁免,将外国央行财产规定为非商业财产,一律享有执行豁免;二是规定外国央行财产为其自身利益持有的财产不得被扣押和执行;三是将外国中央银行财产视同普通财产,不享有执行豁免的特殊待遇。我国法院一贯给予外国中央银行财产司法强制措施豁免,但我国的立法规定了此项做法的唯一的例外,即银行所属国政府明示放弃豁免或者指定该财产用于财产保全和执行。     

Blowing the Whistle

Leniency clauses, offering cartelists legal immunity if they blow the whistle on each other, is a recent anti-trust innovation. The authorities wish to thwart cartels and promote competition. This effect is not evident, however; whistle-blowing may enforce trust and collusion by providing a tool for cartelists to punish each other. We examine the impact of leniency law, and other rules, experimentally.