A simple framework for investigating the properties of policy games

The paper extensively studies the static model of non-cooperative linear quadratic games in which a set of agents chooses their instruments strategically to minimize their linear quadratic criterion. We first derive the necessary and sufficient conditions for the existence of a Nash equilibrium as well as for multiple equilibria to arise. Furthermore, we study the general condition for policy neutrality and Pareto efficiency of the equilibrium by introducing a new concept of decisiveness.Conflict of interest, Nash equilibrium existence, multiplicity, policy invariance, controllability, Pareto efficiency

Effective Lagrangian for Heavy and Light Mesons: Semileptonic Decays

We introduce an effective lagrangian including negative and positive parity heavy mesons containing a heavy quark, light pseudoscalars, and light vector resonances, with their allowed interactions, using heavy quark spin-flavour symmetry, chiral symmetry, and the hidden symmetry approach for light vector resonances. On the basis of such a lagrangian, by considering the allowed weak currents and by including the contributions from the nearest unitarity poles we calculate the form factors for semileptonic decays of $B$ and $D$ mesons into light pseudoscalars and light vector resonances. The available data, together with some additional assumptions, allow for a set of predictions in the different semileptonic channels, which can be compared with those following {}from different approaches. A discussion of non-dominant terms in our approach, which attempts at including a rather complete dynamics, will however have to wait till more abundant data become available.Comment: LaTeX (style article), 19 pages, UGVA-DPT 1992/11-790, BARI-TH/92-12

Sovereign debt crisis, fiscal consolidation, and active central bankers in a monetary union

In this paper we examine global financial instability and its impact on the sovereign debts of peripheral countries in a stylized model of the European Economic and Monetary Union (EMU), where centralized and national policy authorities strategically interact. We show that active expansionary monetary policies might operate as indirect risk-sharing mechanisms that improve EMU stability and the welfare of (a part of the) member states. The European Central Bank (ECB) partially internalizes the fact that the monetary union\u2019s stability is a public good by reallocating a part of the cost of stabilizing the EMU from the periphery to the core countries. In this respect, unconventional monetary policies such as \u2018quantitative easing\u2019 are more effective than traditional monetary policies centered on ex-post interest rate adjustments. The rationale of our findings is that unconventional monetary policies decrease the cost of fiscal interventions in the peripheral countries and incentivize the consolidation of their public balance sheets; these same unconventional policies produce positive externalities but also come at a cost for central countries

Status of Salerno Laboratory (Measurements in Nuclear Emulsion)

A report on the analysis work in the Salerno Emulsion Laboratory is presented. It is related to the search for nu_mu->nu_tau oscillations in CHORUS experiment, the calibrations in the WANF (West Area Neutrino Facility) at Cern and tests and preparation for new experiments.Comment: Proc. The First International Workshop of Nuclear Emulsion Techniques (12-24 June 1998, Nagoya, Japan), 15 pages, 11 figure

Blocking CD248 molecules in perivascular stromal cells of patients with systemic sclerosis strongly inhibits their differentiation toward myofibroblasts and proliferation: A new potential target for antifibrotic therapy

Background: Fibrosis may be considered the hallmark of systemic sclerosis (SSc), the end stage triggered by different pathological events. Transforming growth factor-β (TGF-β) and platelet-derived growth factor BB (PDGF-BB) are profibrotic molecules modulating myofibroblast differentiation and proliferation, respectively. There is evidence linking CD248 with these two molecules, both highly expressed in patients with SSc, and suggesting that CD248 may be a therapeutic target for several diseases. The aim of this work was to evaluate the expression of CD248 in SSc skin and its ability to modulate SSc fibrotic process. Methods: After ethical approval was obtained, skin biopsies were collected from 20 patients with SSc and 10 healthy control subjects (HC). CD248 expression was investigated in the skin, as well as in bone marrow mesenchymal stem cells (MSCs) treated with TGF-β or PDGF-BB, by immunofluorescence, qRT-PCR, and Western blotting. Finally, in SSc-MSCs, the CD248 gene was silenced by siRNA. Results: Increased expression of CD248 was found in endothelial cells and perivascular stromal cells of SSc skin. In SSc-MSCs, the levels of CD248 and α-smooth muscle actin expression were significantly higher than in HC-MSCs. In both SSc- and HC-MSCs, PDGF-BB induced increased expression of Ki-67 when compared with untreated cells but was unable to modulate CD248 levels. After CD248 silencing, both TGF-β and PDGF-BB signaling were inhibited in SSc-MSCs. Conclusions: CD248 overexpression may play an important role in the fibrotic process by modulating the molecular target, leading to perivascular cells differentiation toward myofibroblasts and interfering with its expression, and thus might open a new therapeutic strategy to inhibit myofibroblast generation during SSc

The Spectre of Financial Dominance in the Eurozone

Differently from previous crises, the European institutions responded promptly to the Covid-19 pandemic by implementing an appropriate policy mix. However, this policy mix has proven to be insufficient for reducing the risks of financial instability in the European Union due to the temporary horizon of the centralised fiscal policy and the persistence of adverse shocks. In fact, the impact of the pandemic was exacerbated by the dramatic consequences of the war in Ukraine. The possible inefficiencies in implementing the Next Generation-EU (NG-EU) and an inadequate response to the Ukraine crisis could trigger, at best, the revival of financial and fiscal dominance in the euro-area economies. However, by using a simple model referred to the post-pandemic and war period, we show that the overburdening of the European Central Bank’s role would come with high costs. Hence, we argue that it is necessary to pursue sustainable development based on the successful implementation of the NG-EU and the related transformation of the one-shot centralised fiscal policy into a recurrent policy tool

Primary Mandibular Condyle Xanthoma: Case Report and Literature Review

Bone xanthoma is a rare benign primary bone lesion histologically characterized by sheets of foamy cells which are macrophages with a cytoplasm filled with droplets of fat. It is usually associated with endocrine or metabolic diseases, in the absence of which the lesion is called primary xanthoma. Because of the lack of pathognomonic radiologic and clinical features, they require a differential diagnosis with a broad spectrum of lesions with a varying degree of malignant potential. We describe a case of primary mandibular xanthoma of a 16-year-old girl without typical cutaneous manifestations and alterations in lipid values. The temporomandibular joint involvement at the mandibular condyle is peculiar in the case described here. We present even a qualitative systematic review of the literature on primary xanthoma of the jaws in others to draw up treatment guidelines