Convergence clubs, the euro-area rank and the relationship between banking and real convergence

This paper analyses banking convergence, measured through the ratios of deposits and loans to GDP, across 65 countries, compares it with per capita income convergence, and tests its effect on real convergence. The focus of the paper is the group of countries that have adopted the euro as a single currency (euro area). It compares the degree of banking and real convergence among these countries with that reached by other 17 potential convergence clubs around the world (including the EU-27, the OECD, the G20, OPEC, and the Arab League). It employs a diversity of methods (ß- and s- analyses, stationarity tests, IV regressions) and finds three main results. First, the degree of convergence is higher within the clubs than in the entire sample, and it is diversified across the clubs. Second, all methodologies confirm euro-area banking convergence. Third, banking convergence has a positive and significant impact in fostering real convergence.convergence, comparing banking systems, euro area

Do interbank customer relationships exist? And how did they function in the crisis? Learning from Italy

Using 11 years of monthly Italian bank-by-bank data, this paper correlates the bilateral amounts and the identity of each interbank borrower and lender with a long list of explanatory variables. The results show that interbank customer relationships, i.e. stable and strong relationships between pairs of borrowing and lending banks, do exist in Italy, that they persist over time, and that they functioned well during the crisis, enabling the healthier banks to provide and the troubled ones to receive funds.interbank market, lending relationship, financial crisis

An empirical analysis of national differences in the retail bank interest rates of the euro area

The availability of new harmonized data on bank interest rates allows a rigorous assessment to be made of cross-country price homogeneity/heterogeneity in euro area retail credit markets. Econometric analysis shows that the banking market is still highly segmented and that the degree of integration in a single country (Italy, taken as a benchmark for integration) is greater than in the euro area. However, national differences can be partially explained by variables reflecting the characteristics of domestic depositors and borrowers (“demand side” regressors, such as risk exposure, disposable income, alternative financing sources, average firm size) and the characteristics of the banking systems (“supply side” regressors, such as banking market concentration, asset and liability structure). The euro area prices appear different because national banking products appear different or because they are differentiated by national factors. Once these factors have been controlled for, many differences disappear.bank interest rates, convergence, integration

What are borders made of? An analysis of barriers to European banking integration

Linguistic and cultural differences, different legal and supervisory frameworks, relationship lending have been repeatedly mentioned as barriers to European retail banking integration. We investigate whether these barriers have affected integration within national boundaries, using an index of localism of regional banking systems as a measure of market integration. If local banks are established and flourish because asymmetric information makes entry difficult for non-incumbents (DellÂ’Ariccia, 2001) or regulatory and governance rules prevent entry from outside (Berger et al., 1995), we should find a significant relationship between indicators of these barriers and measures of the localism of banking systems. Our results show that this is indeed the case for asymmetric information, while findings are more blurred for supervisory practices.banking integration, barriers, asymmetric information

Why do (or did?) banks securitize their loans? Evidence from Italy

This paper investigates the ex-ante determinants of bank loan securitization by using different econometric methods on Italian individual bank data from 2000 to 2006. Our results show that bank loan securitization is a composite decision. Banks that are less capitalized, less profitable, less liquid and burdened with troubled loans are more likely to perform securitization, for a larger amount and earlier.securitization, credit risk transfer, capital requirements, liquidity needs

Beyond Berenice : Edgar Allan Poe as a Magazine Editor, Critic, and Supporter of Women

While Edgar Allan Poe was editor of the New York-based Broadway Journal and the Literati o f New York in the mid 1840s, he was very supportive of female writers of the time period. Poe gave women writers including Margaret Fuller, Elizabeth Barrett Barrett, and Frances Sargent Osgood key placements in the Broadway Journal and the Literati o f New York and most often favorable reviews. These actions and feelings of support were in contrast to the overall feeling of the time period, which was that women should not venture outside the domestic arena into the literary world. This thesis is divided into three main parts. The introductory chapter details American culture in the nineteenth century as well as the traditional roles of men and the changing roles of women. It also details Poe’s professional and personal relationships with a number of prominent women writers of the time period. Chapter One looks at four short stories written by Poe - “Berenice,” “Morelia,” “Ligeia,” and “Fall of the House of Usher” — all which have central female characters. Through Poe’s portrayal of silent, strong women and weak, fearful men, he is able to draw parallels to the society of the time. Poe’s women symbolize the intelligent and talented women writers who were entering the scene. Chapter Two includes a close reading and analysis of Poe’s reviews of both male and female writers that appeared in the Broadway Journal and the Literati o f New York. It is clear that Poe favored female writers and gave harsher reviews and less constructive criticism to male writers. Overall, this thesis explores Poe beyond his role of poet and short story author. It explores Poe as a magazine editor and critic, as well as a man who possessed a love and admiration for women and their writings

Apparent movement phenomena on CRT displays - Threshold determinations of apparent movements of pulsed light sources

Apparent movement phenomena on cathode ray tube displays - threshold determinations of apparent movements of pulsed light source

A novel qualitative approach to analyse DNA methylation data from Deep Bisulfite Amplicon Sequencing (Deep- Bis)

DNA methylation is involved in a broad range of biological processes. Traditional quantitative approach summarises DNA methylation data as average percentage of methylated CpGs in specific genomic regions, or as methylation percentage for single CpG site. Such kind of approach gives important information on the general relationships between methylation and expression but might be not able to describe the complex epigenetic structure and dynamics within a cell population. Indeed, this approach fails to dissect and recognise different DNA methylation patterns when a heterogeneous population is investigated. In the present work, in order to better decode epigenetic data, a new way to analyse DNA methylation, based on qualitative approach, was developed. The qualitative approach allows methylation profiles of cell populations to be studied at the single molecule level, thus providing an added value to the quantitative one. In order to obtain an effective representation of methylation profiles, it has been used the Deep Bisulfite Amplicon Sequencing (Deep- Bis), which allows to obtain a very high coverage of selected loci. AmpliMethProfiler, a python-based pipeline, was developed to process the high number of sequences and to extract CpG methylation profiles at single molecule level from Deep- Bis data. Several tools borrowed from ecology and population genetics were used to describe the methylation landscape of the samples in terms of epialleles composition. Qualitative approach was applied on two experimental models: mouse development and acute myeloid leukemia (AML) progression before and after the demethylating therapy, in order to describe the methylation and demethylation dynamics, to investigate the epialleles distribution, to follow their evolution and to gain insight on epigenetic heterogeneity degree at specific loci. The tracking of the methylation profiles is more faithful to the epigenetic state of different loci and allows a more detailed overview of the methylation landscape in a tissue, which is composed by a mosaics of epigenetically different cells

EFFECTS OF ONLINE HEALTH INFORMATION SEEKING ON PHYSICIAN/PATIENT'S ACTIONS

Il 40 per cento degli intervistati afferma che non ha trovato informazioni esaustive sui rischi e benefici dei farmaci trovati, mentre il 52 per cento afferma che le informazioni trovate hanno aiutato a seguire le indicazioni e i consigli del medico. Tra i rispondenti che si sono sottoposti a visita medica e che hanno discusso le informazioni trovate online con il proprio medico di fiducia, l'84 per cento ha ricevuto la prescrizione di farmaci. Di questi, solo il 17 per cento riporta che il farmaco prescritto era lo stesso trovato online, il 74 per cento è stato inviato da uno specialista e l'80 per cento ha ricevuto una prescrizione per test diagnostici. Più della metà dei rispondenti ha anche riportato azioni intraprese dal medico diverse dalla prescrizione del farmaco trovato online. Il 20 per cento degli intervistati afferma che le informazioni trovate sul farmaco da prescrizione in Internet hanno ridotto il suo / la sua fiducia nel medico, mentre il 41 per cento afferma che lo ha aiutato ad avere una comunicazione migliore con il proprio medico di fiducia. Nonostante le preoccupazioni sulle conseguenze negative della comunicazione di salute online, non abbiamo riscontrato differenze in termini di effetti sulla salute tra i pazienti che hanno assunto i farmaci “menzionati” online e coloro che hanno preso altri farmaci da prescrizione.We conducted a national online survey about health care experiences associated with digital communication of prescription drugs. 46 percent of the sample (265 adults) found information about prescription drugs during their online search in the last 12 months. 40 percent of respondents agreed they didn’t find exhaustive information about risks and benefits while 52 percent agreed it helped in following their physician’s indications and advise. Among the respondents who had a physician visit during which health information found online was discussed, 84 percent received a drug prescription with only 17 percent being the same drug found on internet, 74 percent was sent to a specialist and 80 percent received a diagnostic test prescription. More than half also reported actions taken by their physician other than prescribing the drug brand found online. 20 percent respondents states that info found on the prescription drug in Internet reduced his/her trust in the physician while 41 percent states it helped in his/her communication with physician. Despite concerns about online health communication’s negative consequences, we found no differences in health effects between patients who took “advocated”/”mentioned” drugs and those who took other prescription drugs