Book review: the hidden wealth of nations: the scourge of tax havens by Gabriel Zucman

In The Hidden Wealth of Nations: The Scourge of Tax Havens, Gabriel Zucman makes a provocative argument about the large-scale evasion of taxes as well as how to tackle this global issue. Antonio De Vito highly recommends this concise, nontechnical and clearly argued book to everyone interested in understanding how the international financial system is making illegal use of tax havens

Estimating the COVID-19 cash crunch: Global evidence and policy

In this paper, we investigate how the COVID-19 health crisis could affect the liquidity of listed firms across 26 countries. We stress-test three liquidity ratios for each firm with full and partial operating flexibility in two simulated distress scenarios corresponding to drops in sales of 50% and 75%, respectively. In the most adverse scenario, the average firm with partial operating flexibility would exhaust its cash holdings in about two years. At that point, its current liabilities would increase, on average, by eight times, suggesting that the average firm would have to resort to the debt market to prevent a liquidity crunch. Moreover, about 1/10th of all sample firms would become illiquid within six months. Finally, we study two different fiscal policies, tax deferrals and bridge loans, that governments could implement to mitigate the liquidity risk. Our analysis suggests bridge loans are more cost-effective to prevent a massive cash crunch. (C) 2020 The Author(s). Published by Elsevier Inc

The impact of austerity policies in a country can be felt across its borders

Investment and employment can drop sharply even in countries that do not curtail public spending, write Antonio De Vito, Martin Jacob and Guosong X

Design Space Investigation by RSMs Techniques in Aeronautical Metal Cutting Applications

none3A. DEL PRETE; A. DE VITIS; D. MAZZOTTADEL PRETE, Antonio; DE VITIS, ANTONIO ALBERTO; D., Mazzott

Protein induced by vitamin K absence or antagonist-II (PIVKA-II) specifically increased in Italian hepatocellular carcinoma patients

OBJECTIVE: As a marker for Hepatocellular Carcinoma (HCC), Protein Induced by Vitamin K Absence II (PIVKA-II) seems to be superior to alpha fetoprotein (AFP). To better characterize the role of PIVKA-II, both AFP and PIVKA-II have been measured in Italian patients with diagnosis of HCC compared with patients affected by non-oncological liver pathologies. MATERIALS AND METHODS: Sixty serum samples from patients with HCC, 60 samples from patients with benign liver disease and 60 samples obtained from healthy blood donors were included in the study. PIVKA-II and AFP were measured by LUMIPULSE(®) G1200 (Fujirebio-Europe, Belgium). We considered as PIVKA-II cutoff 70 mAU/ml (mean +3SD) of the values observed in healthy subjects. RESULTS: The evaluation of PIVKA-II showed a positivity of 70% in patients with HCC and 5% in patients with benign diseases (p < 0.0001) whereas high levels of AFP were observed in 55% of HCC patients and in 47% of patients with benign diseases. The combined Receiver Operating Characteristic (ROC) analysis of the two analytes revealed a higher sensitivity (75%) compared to those observed for the individual biomarkers. In conclusion, we demonstrate that as a marker for HCC, PIVKA-II is more specific for HCC and less prone to elevation during chronic liver diseases. CONCLUSIONS: The combination of the two biomarkers, evaluated by the ROC analysis, improved the specificity compared to a single marker. These data suggest that the combined analysis of the two markers could be a useful tool in clinical practice

Policy and planning of prevention in Italy: results from an appraisal of prevention plans developed by Regions for the period 2010-2012

Health policies on disease prevention differ widely between countries. Studies suggest that different countries have much to learn from each other and that significant health gains could be achieved if all countries followed best practice. This paper describes the policy development and planning process relating to prevention activities in Italy, through a critical appraisal of Regional Prevention Plans (RPPs) drafted for the period 2010-2012. The analysis was performed using a specific evaluation tool developed by a Scientific Committee appointed by the Italian Ministry of Health. We appraised nineteen RPPs, comprising a total of 702 projects, most of them in the areas of universal prevention (62.9%) and prevention in high risk groups (27.0%). Italian Regions established prevention activities using an innovative combination of population and high-risk individuals approaches. However, some issues, such as the need to reduce health inequalities, were poorly addressed. The technical drafting of RPPs required some improvement; e.g. the evidence of the effectiveness and cost-effectiveness of the health interventions proposed was seldom reported. There were significant geographical differences across the Regions in the appraisal of RPPs. Our research suggests that continuous assessment of the planning process of prevention may become a very useful tool for monitoring, and ultimately strengthening, public health capacity in the field of prevention. Further research is needed to analyze determinants of regional variation

Reducing parasitic resonances in particle accelerators components by broadband Higher Order Mode couplers

In particle accelerator components, parasitic resonances must be reduced because they heat up the equipment and cause beam instabilities. In this paper, a method for designing and characterizing Higher Order Mode (HOM) couplers for reducing such resonances in a broad bandwidth is proposed. A case study is considered for a specific component, called QuattroTank, showing geometrical discontinuities and thus causing significant electro-magnetic resonances. Results of numerical simulation and experimental emulation prove the capability of the proposed method to reduce the peaks and the $Q-factor of the resonances

The governance of prevention in Italy

[No abstract available