An Assessment of the Italian 2007 Second Pillar Reform: a simulation approach

In this paper we aim at assessing the outcomes of the 2007 Italian reform of the complementary social security and to identify the determinants behind them. The reform gave relevant incentives to workers to switch from investing about 7% of their gross wages into a compulsory defned benefit scheme inside the firm (which took the form of a termination indemnity payment, the TFR scheme) to an external pension fund. We provide a theoretical framework to model workers' choice problem of switching between these pension schemes and we then perform an agent-based simulation taking into account all the details of the reform. Our simulations are able to replicate the Italian data in term of adhesion rates to complementary social security and also to identify some of the key determinants of that outcome, like the fiscal incentives, the financial literacy and the expectations on the rate of returns of pension funds.Agent Based Simulation, Pension Schemes, Second Pillar

Savings, fertility and public policy in an OLG small open economy

In an OLG model of a small open economy we analyse the characteristics of saving and fertility under two different public policies: i) constant per capita taxes (and endogenous public debt) and ii) constant per-capita debt (and endogenous stabilizing taxes). Our analysis highlights that a fertility recovery (reduction resp.) requires always a reduction (increase resp.) of taxes, although the implications for public debt management are not trivial, since they depend on the regime the economy is experiencing, i.e. on the relationship between the interest rate and the fertility rate in absence of taxes

Localization of lipopolysaccharide from Escherichia Coli into human atherosclerotic plaque

Experimental studies showed that gut-derived lipopolysaccharide (LPS) is pro-atherogenic, however, its relationship with human atherosclerosis is still to be defined. We investigate if gut-derived LPS from Escherichia Coli localizes in human carotid plaque and its potential role as pro-inflammatory molecule in the atherosclerotic lesion. LPS from Escherichia Coli and Toll-like receptor 4 (TLR4) were studied in specimens from carotid and thyroid arteries of 10 patients undergoing endarterectomy and 15 controls matched for demographic and clinical characteristics. Blood LPS were significantly higher in patients compared to controls. Immunochemistry analysis revealed positivity for antibodies against LPS and TLR4 coincidentally with positivity for CD68 only in the atherosclerotic plaque of carotid arteries but not in thyroid arteries; the positivity for LPS and TLR4 was greater in the area with activated macrophages. LPS concentration similar to that detected in atherosclerotic plaque resulted in a dose-dependent TLR4-mediated Nox2 up-regulation by human monocytes. These data provide the first evidence that LPS from Escherichia Coli localizes in human plaque and may contribute to atherosclerotic damage via TLR4-mediated oxidative stress

An Assessment of the Italian 2007 Second Pillar Reform: a simulation approach

In this paper we aim at assessing the outcomes of the 2007 Italian reform of the complementary social security and to identify the determinants behind them. The reform gave relevant incentives to workers to switch from investing about 7% of their gross wages into a compulsory defned benefit scheme inside the firm (which took the form of a termination indemnity payment, the TFR scheme) to an external pension fund. We provide a theoretical framework to model workers' choice problem of switching between these pension schemes and we then perform an agent-based simulation taking into account all the details of the reform. Our simulations are able to replicate the Italian data in term of adhesion rates to complementary social security and also to identify some of the key determinants of that outcome, like the fiscal incentives, the financial literacy and the expectations on the rate of returns of pension funds

An Assessment of the Italian 2007 Second Pillar Reform: a simulation approach

In this paper we aim at assessing the outcomes of the 2007 Italian reform of the complementary social security and to identify the determinants behind them. The reform gave relevant incentives to workers to switch from investing about 7% of their gross wages into a compulsory defned benefit scheme inside the firm (which took the form of a termination indemnity payment, the TFR scheme) to an external pension fund. We provide a theoretical framework to model workers' choice problem of switching between these pension schemes and we then perform an agent-based simulation taking into account all the details of the reform. Our simulations are able to replicate the Italian data in term of adhesion rates to complementary social security and also to identify some of the key determinants of that outcome, like the fiscal incentives, the financial literacy and the expectations on the rate of returns of pension funds

Can Ropinirole Modulate Reinforcing Subjective Effects of Cocaine in Humans?

In this study we evaluated, by means of the “cocaine rush visual analog scale,” the impact of ropinirole on the expected rush induced by cocaine in a group of heroin addicts abusing cocaine; the self-reported reaction to the rush blockade (if any) on cocaine consumption, and the correlations between this self-reported reaction and individual, clinical, and therapeutic parameters. Nineteen cocaine abuser heroin-dependent patients entered the study. Their experienced cocaine rush was 61.31 ± 32.1% of the maximum effect previously experienced. Compared with their previous rush intensity 16 patients experienced significantly lower intensity, 3 the same intensity, and none a higher intensity. In particular, two patients experienced a complete blockade of rush and reported a reduced use of cocaine. Fourteen patients experienced a partial blockade of cocaine rush; of these, nine reported they had reduced their use of cocaine. Ropinirole does diminish the subjective intensity of an expected cocaine rush, so interfering with the dynamics of reward, while supporting its possible use in the treatment of cocaine dependence

Structure and diversity of fish communities in man-made ponds of the Niger Delta (southern Nigeria)

1. A survey of eight local earthen hand-dug ponds located within the freshwater swamps of a Niger Delta area (southern Nigeria) was conducted over a period of 3 months. A total of 4,313 fishes representing 19 species from 12 families were recorded.2. The most abundant species was Xenomystus nigri (905 individuals), whereas the least common was Protopterus annectens (13). Cichlidae and Clariidae counted three species each, whereas Anabantidae, Hepsetidae, Mochokidae, Protopteridae, Phractolaemidae, Malapteruridae and Gymnarchidae were represented by a single species each.3. A lotic species, Synodontis sp., was recorded possibly as a result of the episodic flood of 2012.4. The Engenni swamps harbour a moderately diverse ichthyofauna. Regulations should be put in place to further enhance the fisheries potential of these local ponds

Comparison between crown thinning and girdling to enhance sporadic tree species in a coppice stand in Central Italy

Sporadic valuable tree species and especially Sorbus species have gained importance in forest management as they increase tree biodiversity, ensure a higher resilience of the stand to climate change, and enhance valuable timber production. This paper reports the first results of a trial carried out in Central Italy in a Turkey oak coppice stand (aged 17 years) where three different silvicultural treatments (crown thinning, girdling and unthinned control) were applied to favour sporadic tree species. The monitoring was carried out for 5 years and showed the limits of girdling application as Mediterranean species like Turkey oak form easily scar cords and epicormic sprouting. Furthermore, the progressive reduction of canopy cover of the competitors resulted from girdling and the effect of the thinning and girdling on the growth of selected service trees (Sorbus domestica L.) were evaluated. The first results of this research have pointed out some difficulties in the girdling application and a higher effect of crown thinning in stimulating the growth of selected service trees