The Appropriateness of the Poolability Assumption for Multiproduct Technologies: Evidence from the English Water and Sewerage Utilities

The empirical literature on the cost structure of multiproduct firms (e.g., public utilities providing in combination gas, water, and electricity) traditionally assumes a common technology across different products and stages of production, letting the issue of poolability unexplored. The appropriateness of this assumption is tested here by estimating a General cost function for samples of UK specialized and sewerage-diversified water utilities. The results show the existence of both aggregate scale economies and diseconomies of scope; more interestingly, the hypothesis that the two groups of water companies share the same technological parameters is rejected. Given the implications of this finding in terms of optimal industry configuration and possible restructuring policies (e.g., mergers and/or divestitures), our test suggests caution in pooling samples when undertaking empirical studies on data which refer to multiproduct technologies.Multiproduct technologies; Water and sewerage utilities; Poolability; General cost function

Employment protection, temporary contracts and firm-provided training: Evidence from Italy

In this study we leverage on Italy’s size-contingent firing restrictions in order to identify the causal effect of employment protection legislation (EPL) on firm-provided training using a regression discontinuity design. Our analysis demonstrates that higher levels of EPL reduce firms’ incentives to invest in workers’ training. The number of trained workers falls by about 1.5-1.9 units at the threshold: this is a non-negligible effect, corresponding to a 16-20 per cent reduction in the number of trained workers. The results are robust to several sensitivity checks and controls for potential confounding factors (e.g., worker councils). The EPL effect on training is not mediated by different levels of investment in physical capital or propensities to innovate, while it is mostly accounted for by larger workers’ turnover and use of temporary contracts, which entail lower training, in firms with higher firing costs. Our study points to potential adverse effects of EPL on workers’ training in dual labor markets, owing to larger firms seeking to avoid higher EPL costs by means of temporary contracts.JRC.I.1-Modelling, Indicators and Impact Evaluatio

Did the EU Airport Charges Directive Lead to Lower Aeronautical Charges? Empirical Evidence From a Diff-in-Diff Research Design

Abstract In this study we analyse the impact of the EU Airport Charges Directive on the level of aeronautical charges for EU airports serving between 2 and 20 million passengers, over the period 2008–2017, using a difference-in-differences research design. We find that the transposition of the Airport Charges Directive into national legislation has led to a statistically significant reduction in the level of airport charges, but only after a few years. We also find the existence of heterogeneous treatment effects that depend on the quality of transposition of the Directive

Why tackling late government payments to businesses should be a key priority

Every year, many businesses across Europe go bankrupt as a result of payment delays. For this reason, the EU established a Late Payment Directive in 2011. Maurizio Conti, Leandro Elia, Antonella Ferrara and Massimiliano Ferraresi assess the impact of the directive, finding it has had some notable positive effects for the financial position of firms. Given the strain many businesses are under as a result of the Covid-19 outbreak, it is now more vital than ever for policymakers to address the problem

Vocabulary-free Image Classification

Recent advances in large vision-language models have revolutionized the image classification paradigm. Despite showing impressive zero-shot capabilities, a pre-defined set of categories, a.k.a. the vocabulary, is assumed at test time for composing the textual prompts. However, such assumption can be impractical when the semantic context is unknown and evolving. We thus formalize a novel task, termed as Vocabulary-free Image Classification (VIC), where we aim to assign to an input image a class that resides in an unconstrained language-induced semantic space, without the prerequisite of a known vocabulary. VIC is a challenging task as the semantic space is extremely large, containing millions of concepts, with hard-to-discriminate fine-grained categories. In this work, we first empirically verify that representing this semantic space by means of an external vision-language database is the most effective way to obtain semantically relevant content for classifying the image. We then propose Category Search from External Databases (CaSED), a method that exploits a pre-trained vision-language model and an external vision-language database to address VIC in a training-free manner. CaSED first extracts a set of candidate categories from captions retrieved from the database based on their semantic similarity to the image, and then assigns to the image the best matching candidate category according to the same vision-language model. Experiments on benchmark datasets validate that CaSED outperforms other complex vision-language frameworks, while being efficient with much fewer parameters, paving the way for future research in this direction.Comment: Accepted at NeurIPS2023, 19 pages, 8 figures, code is available at https://github.com/altndrr/vi

Haemodynamic Crosstalk Between Carotid Arteries and Implications for Wall Shear Stress Measurements

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Fluorescein-guided surgery for intradural spinal tumors: A single-center experience

•Gross total removal has a pivotal role in surgical treatment of intradural spinal tumors.•Sodium fluorescein prevents vascular injuries also preserving pial vessels in posterior myelotomy.•Fluorescence before the durotomy helps to distinguishing tumor from healthy tissue in intradural lesions.•Intraoperative fluorescence is safe and effective, also preserving functional anatomy in tumor removal

Primary cutaneous B-cell lymphoma and chronic leg ulcers in a patient with type 2 diabetes

The incidences of type 2 diabetes mellitus and many cancers are rapidly increasing worldwide. Diabetes is a strong risk factor for some cancers (including lymphomas) and is also associated with adverse cancer outcomes. After gastrointestinal tract, the skin is the second most frequent extranodal site involved by non-Hodgkin lymphomas and the cutaneous B-cell lymphomas (CBCLs) range from 25% to 30% of all primary cutaneous lymphomas. The primary cutaneous diffuse large B-cell lymphoma (PCDLBCL) is an aggressive lymphoma with a poor prognosis, representing roughly 20% of all primary CBCLs. Classically, the cutaneous manifestation of this lymphoma is a red or violaceous tumors arising on a leg. To date, despite the large body of evidence suggesting that diabetes is strongly associated with an increased risk of some cancers, very little information is available regarding a possible association between type 2 diabetes and primary cutaneous diffuse large B-cell lymphoma. In this report, we will present the case of a white adult patient with type 2 diabetes with chronic leg ulcers complicated by a primary cutaneous diffuse large B-cell lymphoma