Fiscal and monetary interaction under monetary policy uncertainty

Despite the recent increasing number of studies on monetary policy uncertainty, its role on the strategic interactions between fiscal and monetary policies has not been fully explored. Our paper aims to fill this gap by tackling this issue by evaluating the consequences produced by multiplicative uncertainty in such a context.Monetary-fiscal policy interactions, paramenter uncertainty, symbiosis, monetary policy attenuation

Policy Uncertainty, Symbiosis, and the Optimal Fiscal and Monetary Conservativeness

This paper extends the stabilization game between monetary and fiscal authorities to the case of multiplicative (model) uncertainty. In this context, the “symbiosis assumption”, i.e. fiscal and monetary policy share the same ideal targets, no longer guarantees the achievement of ideal output and inflation, unless the ideal output is equal to its natural level. A time consistency problem arises.Monetary-fiscal policy interactions, uncertainty, symbiosis.

Policy Uncertainty, Symbiosis, and the Optimal Fiscal and Monetary Conservativeness

This paper extends a well-known macroeconomic stabilization game between monetary and fiscal authorities introduced by Dixit and Lambertini (American Economic Review, 93: 1522-1542) to multiplicative (policy) uncertainty. We find that even if fiscal and monetary authorities share a common output and inflation target (i.e. the symbiosis assumption), the achievement of the common targets is no longer guaranteed; under multiplicative uncertainty, in fact, a time consistency problem arises unless policymakers� output target is equal to the natural level.Monetary-fiscal policy interactions, uncertainty, symbiosis.

Common ownership and firm dividend policies

This paper examines the relationship between common owners and firm dividend policy. We find that dividend policies of firms newly added to an investor's portfolio evolve towards the dividend policies of the existing firms in this portfolio. This relationship is neither driven by owners targeting firms forecasted to change their dividend policies, nor by firms with a similar dividend strategy to the companies in the new investor's existing portfolio. Our results suggest that owners have a dividend policy style, and that their influence depends on the type of co-owner and the existing governance characteristics of the co-purchased firm

Severe Accident Simulation of Small Modular Reactors

Since the Three Mile Island Unit 2 (TMI-2), accident in 1979 which led to the meltdown of about one half of the reactor core and to limited releases of radioactive materials to the environment, an important international effort has been made on severe accident research. The present work aims to investigate the behaviour of a Small Modular Reactor during severe accident conditions. In order to perform these analyses, a SMR has been studied for the European reference severe accident analysis code ASTEC, developed by IRSN and GRS. In the thesis will be described in detail the IRIS Small Modular Reactor; the reference reactor chosen to develop the ASTEC input deck. The IRIS model was developed in the framework of a research collaboration with the IRSN development team. In the thesis will be described systematically the creation of the ASTEC IRIS input deck: the nodalization scheme adopted, the solution used to simulate the passive safety systems and the strong interaction between the reactor vessel and the containment. The ASTEC SMR model will be tested against the RELAP-GOTHIC coupled code model, with respect to a Design Basis Accident, to evaluate the capability of the ASTEC code on reproducing correctly the behaviour of the nuclear system. Once the model has been validated, a severe accident scenario will be simulated and the obtained results along with the nuclear system response will be analysed

Infestazione intestinale da Schistosoma mansoni: un caso emblematico di importazione

Viene descritto, sia dal punto di vista clinico che parassitologico, un caso di importazione di schistosomiasi intestinale da S. mansoni contratta durante un soggiorno in Tanzania. Dopo circa 50 giorni da un contatto casuale ma ripetuto con le acque del Lago Vittoria, al soggetto, giovane adulto in missione umanitaria, compare febbre elevata, accompagnata da astenia (presente da più giorni) cui segue un episodio di diarrea acuta. La comparsa anche di una ipereosinofilia, dapprima assente, spinge il curante ad eseguire immediatamente un esame coproparassitologico standard (in precedenza sempre negativo) che risulta positivo per uova di S. mansoni. La terapia condotta con praziquantel risolve il caso e porta a guarigione il soggetto, cui inizialmente era stata esclusa la malaria, allorché dopo circa 1 mese dal rientro aveva presentato rialzo termico con disturbi respiratori

Report on the activity of the GILDA-CRG beamline 2009-2013

Index Technical description of the beamline..................................................................................................3 Introduction ....................................................................................................................................3 Optics..............................................................................................................................................3 The XAS end station........................................................................................................................6 Standard data collection setup.....................................................................................................6 Surface XAS apparata.................................................................................................................8 Recent sample environment and Instrumentation developments................................................9 The x-ray diffraction (XRD) end-station.......................................................................................13 Beamline control...........................................................................................................................14 Administrative aspects........................................................................................................................16 Organisation..................................................................................................................................16 Beamline Staff Situation................................................................................................................17 Statistical data on Users and scientific production.............................................................................21 Future perspectives and plans for upgrade.........................................................................................25 Aim of the project.........................................................................................................................25 Design...........................................................................................................................................26 Timetable......................................................................................................................................31 Overview of the overall scientific activity.........................................................................................33 Selection of five publications........................................................................................................33 Highlights of the scientific activity................................................................................................34 Local order in semiconductors..................................................................................................34 Nanotechnology.......................................................................................................................44 Cements and porous systems....................................................................................................48 Chemistry.................................................................................................................................56 Earth Science............................................................................................................................61 Environment.............................................................................................................................67 Cultural Heritage.......................................................................................................................72 Health, medicine and life science .............................................................................................77 Acknowledgements...........................................................................................................................84 References.........................................................................................................................................85 Generic References.......................................................................................................................85 GILDA 2009-2013 Publications....................................................................................................8

Transgenic chloroplasts are efficient sites for high-yield production of the vaccinia virus envelope protein A27L in plant cells.

Orthopoxviruses (OPVs) have recently received increasing attention because of their potential use in bioterrorism and the occurrence of zoonotic OPV outbreaks, highlighting the need for the development of safe and cost-effective vaccines against smallpox and related viruses. In this respect, the production of subunit protein-based vaccines in transgenic plants is an attractive approach. For this purpose, the A27L immunogenic protein of vaccinia virus was expressed in tobacco using stable transformation of the nuclear or plastid genome. The vaccinia virus protein was expressed in the stroma of transplastomic plants in soluble form and accumulated to about 18% of total soluble protein (equivalent to approximately 1.7 mg/g fresh weight). This level of A27L accumulation was 500-fold higher than that in nuclear transformed plants, and did not decline during leaf development. Transplastomic plants showed a partial reduction in growth and were chlorotic, but reached maturity and set fertile seeds. Analysis by immunofluorescence microscopy indicated altered chlorophyll distribution. Chloroplast-synthesized A27L formed oligomers, suggesting correct folding and quaternary structure, and was recognized by serum from a patient recently infected by a zoonotic OPV. Taken together, these results demonstrate that chloroplasts are an attractive production vehicle for the expression of OPV subunit vaccines

Notch3 contributes to T-cell leukemia growth via regulation of the unfolded protein response

Unfolded protein response (UPR) is a conserved adaptive response that tries to restore protein homeostasis after endoplasmic reticulum (ER) stress. Recent studies highlighted the role of UPR in acute leukemias and UPR targeting has been suggested as a therapeutic approach. Aberrant Notch signaling is a common feature of T-cell acute lymphoblastic leukemia (T-ALL), as downregulation of Notch activity negatively affects T-ALL cell survival, leading to the employment of Notch inhibitors in T-ALL therapy. Here we demonstrate that Notch3 is able to sustain UPR in T-ALL cells, as Notch3 silencing favored a Bip-dependent IRE1α inactivation under ER stress conditions, leading to increased apoptosis via upregulation of the ER stress cell death mediator CHOP. By using Juglone, a naturally occurring naphthoquinone acting as an anticancer agent, to decrease Notch3 expression and induce ER stress, we observed an increased ER stress-associated apoptosis. Altogether our results suggest that Notch3 inhibition may prevent leukemia cells from engaging a functional UPR needed to compensate the Juglone-mediated ER proteotoxic stress. Notably, in vivo administration of Juglone to human T-ALL xenotransplant models significantly reduced tumor growth, finally fostering the exploitation of Juglone-dependent Notch3 inhibition to perturb the ER stress/UPR signaling in Notch3-dependent T-ALL subsets