Covariance estimation via Fourier method in the presence of asynchronous trading and microstructure noise

We analyze the effects of market microstructure noise on the Fourier estimator of multivariate volatilities. We prove that the estimator is consistent in the case of asynchronous data and robust in the presence of microstructure noise. This result is obtained through an analytical computation of the bias and the mean squared error of the Fourier estimator and con¯rmed by Monte Carlo experiments.

The Affordable Care Act and State Charities Regulators

The Patient Protection and Affordable Care Act of 2010 (the “Affordable Care Act”) was enacted almost three years ago in March 2010. Certain of its provisions became effective shortly after enactment, and others have been ramping up in advance of the full implementation of most of the remaining provisions of the Affordable Care Act on January 1, 2014. The Affordable Care Act is probably one of, if not the most, comprehensive reform of the healthcare sector, which represents the largest percentage of this nation’s gross domestic product. Because of the extent of the reforms, the depth of impact on the entire healthcare system, and the costs and increased revenues associated with the Affordable Care Act, numerous challenges will be presented to state charities regulators as implementation of the Affordable Care Act continues to take place. This paper will focus on the intersection between the federal healthcare reforms enacted as part of the Affordable Care Act and state charities regulators. Part II discusses the duty of care and oversight issues concerning compliance with the new section 501(r) requirements applicable to nonprofit and governmental hospitals that are or seek tax exemption under section 501(c)(3). Part III focuses on the dynamics of a consolidating marketplace for hospitals and health systems and the expected mergers, acquisitions and other transactions that are taking place and will take place in the coming years in response to or as a result of the law changes contained in the Affordable Care Act. Finally, with the increased funding that will result from full implementation of the Affordable Care Act, there will be greater competition for an increasingly scarce commodity – physicians. Part IV discusses how nonprofit hospitals may be compelled to push the limits of the anti-kickback and self-referral laws, thereby creating financial exposures for the hospitals and concomitant questions about compliance with fiduciary duties of oversight as the Delaware Supreme Court spelled out in the CareMark litigation

Early suppression of lymphoproliferative response in dogs with natural infection by Leishmania infantum.

Dogs are the domestic reservoirs of zoonotic visceral leishmaniasis caused by Leishmania infantum. Early detection of canine infections evolving to clinically patent disease may be important to leishmaniasis control. In this study we firstly investigated the peripheral blood mononuclear cell (PBMC) response to leishmanial antigens and to polyclonal activators concanavalin A, phytohemagglutinin and pokeweed mitogen, of mixed-breed dogs with natural L. infantum infection, either in presymptomatic or in patent disease condition, compared to healthy animals. Leishmania antigens did not induce a clear proliferative response in any of the animals examined. Furthermore, mitogen-induced lymphocyte proliferation was found strongly reduced not only in symptomatic, but also in presymptomatic dogs suggesting that the cell-mediated immunity is suppressed in progressive canine leishmaniasis. To test this finding, naive Beagle dogs were exposed to natural L. infantum infection in a highly endemic area of southern Italy. Two to 10 months after exposure all dogs were found to be infected by Leishmania, and on month 2 of exposure they all showed a significant reduction in PBMC activation by mitogens. Our results indicate that suppression of the lymphoproliferative response is a common occurrence in dogs already at the beginning of an established leishmanial infection. # 1999 Elsevier Science B.V. All rights reserved

Combined use of coenzyme Q10 and citicoline: A new possibility for patients with glaucoma

Glaucoma is the leading cause of irreversible blindness worldwide. Several risk factors have been involved in the pathogenesis of the disease. By now, the main treatable risk factor is elevated intraocular pressure. Nevertheless, some patients, whose intraocular pressure is considered in the target level, still experience a progression of the disease. Glaucoma is a form of multifactorial ocular neurodegeneration with complex etiology, pathogenesis, and pathology. New evidence strongly suggests brain involvement in all aspects of this disease. This hypothesis and the need to prevent glaucomatous progression led to a growing interest in the pharmacological research of new neuroprotective, non-IOP-lowering, agents. The aim of this paper is to report evidence of the usefulness of Coenzyme Q10 and Citicoline, eventually combined, in the prevention of glaucomatous neurodegeneration

Assessing Vegetation Decline Due to Pollution from Solid Waste Management by a Multitemporal Remote Sensing Approach

Nowadays, the huge production of Municipal Solid Waste (MSW) is one of the most strongly felt environmental issues. Consequently, the European Union (EU) delivers laws and regulations for better waste management, identifying the essential requirements for waste disposal operations and the characteristics that make waste hazardous to human health and the envi-ronment. In Italy, environmental regulations define, among other things, the characteristics of sites to be classified as “potentially contaminated”. From this perspective, the Basilicata region is cur-rently one of the Italian regions with the highest number of potentially polluted sites in proportion to the number of inhabitants. This research aimed to identify the possible effects of potentially toxic element (PTE) pollution due to waste disposal activities in three “potentially contaminated” sites in southern Italy. The area was affected by a release of inorganic pollutants with values over the thresholds ruled by national/European legislation. Potential physiological efficiency variations of vegetation were analyzed through the multitemporal processing of satellite images. Landsat 5 Thematic Mapper (TM) and Landsat 8 Operational Land Imager (OLI) images were used to calcu-late the trend in the Normalized Difference Vegetation Index (NDVI) over the years. The mul-titemporal trends were analyzed using the median of the non-parametric Theil–Sen estimator. Fi-nally, the Mann–Kendall test was applied to evaluate trend significance featuring areas according to the contamination effects on investigated vegetation. The applied procedure led to the exclu-sion of significant effects on vegetation due to PTEs. Thus, waste disposal activities during previ-ous years do not seem to have significantly affected vegetation around targeted sites