Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880-1913

Using a sample of 20 emerging countries from 1880 to 1913, we study the determinants and output effects of sudden stops in capital inflows during an era of intensified globalization. We find that higher levels of original sin (hard currency debt to total debt) and large current account deficits associated with reliance on foreign capital greatly increased the likelihood of experiencing a sudden stop. Trade openness and stronger commitment to the gold standard had the opposite effect. These results are robust for many sudden stop definitions used in the literature. Finally, we use a treatment effects model to show that after controlling for endogeneity sudden stops have a strong negative association with growth in per capita output. We also show that banking, currency and debt crises that were preceded by a sudden stop have much greater negative relation with growth than in the absence of a sudden stop.

Sudden stops: Determinants and output effects in the first era of globalization, 1880-1913

We study the determinants and output effects of sudden stops in capital inflows during an era of intensified globalization from 1880 to 1913. Higher levels of exposure to foreign currency debt and large current account deficits associated with reliance on foreign capital greatly increased the likelihood of experiencing a sudden stop. Trade openness and strong reserve positions had the opposite effect. Sudden stops accompanied by financial crises are associated with drops in output per capita below trend equal to three to four percent. Frictions in the international capital markets of the day are a likely candidate for these output losses. Sudden stops connected with crises do not seem to bring trend growth downwards. Sudden stops not connected with crises appear to be associated with significant declines in trend growth.Sudden stops Economic growth Financial crises Foreign debt Financial globalization

Screening of a Small Number of Italian COVID-19 Syndrome Survivors by Means of the Fatigue Assessment Scale: Long COVID Prevalence and the Role of Gender

Months after healing, a number of COVID-19 syndrome survivors are affected by both psychological and physical limitations. They are mainly troubled with long-term fatigue, which is a crucial aspect of Long Covid syndrome. This paper aims to investigate the level and persistency of fatigue among COVID-19 survivors from the first wave of the pandemic in Western Liguria and to elucidate the role of gender, age, and lifestyle. It also provides data to the scientific community to help drawing a consistent picture of Long Covid syndrome. The patients were requested to fill a Fatigue Assessment Questionnaire twice: (i) a few weeks after discharge from hospital or home confinement and (ii) a few months later. Statistical analysis was carried out on the global scores and on the score for every single item of the questionnaire. The outcome of the two questionnaires were analyzed separately and compared. Females are more affected by fatigue than males. This results holds for both physical and mental fatigue. All the males’ fatigue scores were reduced at the second control, while 40% of females worsened it. Home-confined patients showed a higher fatigue score at the first check. In the initial stages of the recovery, patients are more affected by physical, rather than mental, fatigue. This is worth of further investigation as well as the reasons leading to a higher initial fatigue score for home cared patients

RhinAsthma Patient Perspective: A short daily asthma and rhinitis QoL assessment

Background The present study aimed to develop a short validated patient-completed questionnaire, the RhinAsthma Patient Perspective (RAPP), to assess the health-related quality of life (HRQoL) in patients with asthma and comorbid allergic rhinitis in clinical practice. Methods A provisional RAPP questionnaire was formed from candidate items identified through retrospective analysis of 333 RHINASTHMA questionnaires. This was then tested on 150 asthma patients with allergic rhinitis. Results Psychometric analyses identified eight items fitting a unidimensional model to form RAPP. Internal consistency (Cronbach's alpha coefficient > 0.8) and agreement with RHINASTHMA (r = -0.31, P = 0.0001) were excellent. Criterion, discriminant, and convergent validity were good. Reliability in 47 stable patients was very good (intra-class and concordance correlation coefficients were 0.90 and 0.89, respectively). Responsiveness in 103 patients with health improvement or deterioration was significantly associated with changes in Global Rating Scale (r = -0.4965, P < 0.01), Rhinitis Visual Analogue Scale (r = 0.5722, P < 0.01) and asthma control test (r = -0.6483, P < 0.01). Minimal clinical difference in the analyzed population was 2. Conclusion RhinAsthma Patient Perspective is a simple eight-question questionnaire with good measurement properties and sensitivity to health changes, which will provide a valid, reliable and standardized HRQoL measurement in patients with asthma and comorbid allergic rhinitis in clinical practice. \uc2\ua9 2012 John Wiley & Sons A/S