Japan officially withdrew from the International Convention on the Regulation of Whaling (ICRW) on 1 July 2019 and resumed commercial whaling within its coastal waters for the first time in nearly 31 years. This chapter analyzes the reasons for Japan’s withdrawal from the ICRW and its...

"This book examines the impact and implications of Japan's withdrawal from the International Convention for the Regulation of Whaling (ICRW), which came into effect in July 2019. In 1982 the International Whaling Commission (IWC) adopted a moratorium on commercial whaling which has been in...

An address at the Open Day at Frank Kitts Park to celebrate the Gentle Giants of the Ocean on 15 December 2007. The address considers Japan’s exploitation of the scientific research provision in the International Convention for the Regulation of Whaling

An address to the Department of Conservation seminar “Whale Tales – From Whaling to Whale Watching”, delivered in Nelson on 11 March 2005. The address traces New Zealand’s relationship with whaling and the International Whaling Commission. It discusses the implications of a resumption of...

VC: An American History offers a compelling chronicle of the development of professional venture capital (VC) in the United States, from VC-like forebearers as diverse as 18th century cotton manufacturing and 19th century whaling up to the state of the modern VC market at the turn of the...

An address to the New Zealand Institute of International Affairs on 16 August 2010. The address provides an overview of International Whaling Commission negotiations, a proposal to cap whaling over a period of 10 years, and of an application brought by Australia in the International Court of...

This paper analyzes the trade-off between risk and incentives in the share contracts of the American whaling industry. Using a newly-collected panel of 5,378 individuals who sailed on whaling voyages from 1855-68, the response of sailors' compensation to an increase in risk is estimated. The...

This paper examines 36.640 labor contracts signed between whalemen and the agents who organized 1,258 whaling voyages that departed from New Bedford, Massachusetts between January I. 1840 and December 31, 1858 and between January I and December 31, 1866. The contracts contain information on the...

"Through the mid-nineteenth century, the United States whaling industry drove industrialization and urbanization, offering ways to lubricate and illuminate the country. The Pennsylvania petroleum boom of the 1860s brought cheap and plentiful petroleum into the market, decimating whale oil's...

On May 10, 2012, JPMorgan Chase & Co. started to report losses on its London based credit derivative portfolio. To date, these losses have accumulated to roughly USD~6.2 billion. In this document, we consolidate publicly available information on the JPMorgan case to provide a detailed review of...

After consistently producing positive results through 2011, the JPMorgan Chase (JPM) traders who oversaw the bank's Synthetic Credit Portfolio (SCP) grew alarmed by a consistent string of losses beginning in January 2012. (The SCP was maintained by JPM to help hedge default risk and was the...

We propose framework for modeling portfolio risk which integrates market risk with liquidation costs which may arise in stress scenarios. Our model provides a systematic method for computing liquidation-adjusted risk measures for a portfolio. Calculation of Liquidation-adjusted VaR (LVaR) for...

Ottawa should consider new regulatory approaches to bolster the role of smaller financial institutions if it is to achieve its goals of enhancing quality, price and innovation in that sector, according to a new report from the C.D. Howe Institute. In “Swimming with Whales: How to Encourage...

John Maynard Keynes' activities on the stock market are well known. One company in which he bought stocks was the Hector Whaling Company Ltd., London – a comparatively small and little known company founded in 1928. The director of this company was Rupert Trouton. He had worked with Keynes for...

As a global financial service provider, JPMorgan Chase (JPM) is supervised by banking regulatory agencies in different countries. Bruno Iksil, the derivatives trader primarily responsible for the $6 billion trading loss in 2012, was based in JPM's London office. This office was regulated both by...

In December 2011, the Chief Executive Officer and Chief Financial Officer of JPMorgan Chase (JPM) instructed the bank's Chief Investment Office to reduce the size of its Synthetic Credit Portfolio (SCP) during 2012, so that JPM could decrease its Risk-Weighted Assets as the bank prepared to...

As a diversified financial service provider and the largest United States bank holding company, JPMorgan Chase (JPM) is supervised by multiple regulatory agencies. JPM's commercial bank subsidiaries hold a national charter and therefore are regulated by the Office of the Comptroller of the...

In December 2011, the Chief Executive Officer and Chief Financial Officer of JPMorgan Chase (JPM) instructed the bank's Chief Investment Office to reduce the size of its Synthetic Credit Portfolio (SCP) during 2012, so that JPM could decrease its Risk-Weighted Assets as the bank prepared to...

This paper uses bio-economic modeling and simulation to investigate the de-mise of the sperm whale industry in the mid-19th century. Petroleum is widely credited both contemporaneously and today with 'saving the whales.' We investigate the transition in illumination technologies from whale oil...

This policy brief by Senior Scholar and Program Director Jan Kregel builds on an earlier analysis (Policy Note 2012/6) of JPMorgan Chase and the actions of the "London Whale", and what this episode reveals about the larger risks inherent in the financial system. It is clear that the Dodd-Frank...

The paper analyzes the decline and final close down of the European Antarctic whaling industry in the 1950s and 60s. This industry had been led by British and Norwegian companies, which were now challenged by Japan and Soviet Union that completely took over Antarctic whaling for the next...

Any contemporary discussion of whaling inevitably involves scientific, political and philosophical deliberations. Although records suggest that humans have been whaling since the thirteenth century, it is only within the past eighty years that whaling nations have participated in an...

After the commercial whaling moratorium was enacted in 1986, whale watching became one of the fastest growing tourism industries worldwide. As whaling was regarded as an activity incompatible with whale watching, the possible resumption of commercial whaling caused an urgent need to investigate...

Recent developments in South Korea's foreign and security policies as well as major structural adjustments in the military alliance between the United States and South Korea indicate a new self-understanding on the part of South Korea in terms of playing a more assertive role in regional and...

“Compare the several floras of Great Britain, of France or of the United States, drawn up by different botanists, and see what a surprising number of forms have been ranked by one botanist as good species, and by another as mere varieties. Mr. H. C. Watson...has marked for me 182 British...