Do Business Cycles Make Babies? The Effect of Business Cycle Fluctuations On Fertility

Economic models often treat fertility as both constant and exogenous, while neither assumption is true. In this paper, I develop a Real Business Cycle model to analyze the impact of business cycle fluctuations on household fertility decisions. I incorporate a fertility decision into a search-based labor market and conduct a general equilibrium analysis of the effects of business cycles. The simulated results show that households increase their fertility during positive economic times, and reduce fertility as unemployment rises

Medical treatment of early stage and rare histological variants of epithelial ovarian cancer

Epithelial ovarian cancer is often considered a single pathological entity, but increasing evidence suggests that it is rather a group of different neoplasms, each with unique pathological characteristics, molecular features, and clinical behaviours. This heterogeneity accounts for the different sensitivity to antineoplastic drugs and makes the treatment of ovarian tumours a challenge. For early-stage disease, as well as for heavily pre-treated patients with recurrent ovarian cancer, the benefit of chemotherapy remains uncertain. Clear-cell, mucinous, low-grade serous, and endometrioid carcinomas show different molecular characteristics, which require different therapeutic approaches. In the era of personalised cancer medicine, understanding the pathogenesis and the genetic background of each subtype of epithelial ovarian tumour may lead to a tailored therapy, maximising the benefits of specific treatments and possibly reducing the side effects. Furthermore, personal factors, such as the patient’s performance status, should be taken into account in the management of ovarian cancer, with the aim of safeguarding the patients’ quality of life

Cross-Country Ethical Dilemmas in Business: A Descriptive Framework

As businesses span the globe, multinational and translational companies conduct their business operations in foreign settings, especially in developing countries and in countries in transition from Communist regimes. This poses new challenges to expatriate managers and to home-based staff in charge of foreign affiliates. They are called on to determine the right versus the wrong, the good versus the bad over international business transactions, negotiations, advertisement and supply chain management taking place in foreign settings. As most of the time, businessmen lack a certain degree of cultural awareness and knowledge, managing ethical diversity over cross-country business transactions ends up to be a major challenge for business people. This paper’s aim is to provide an introductory sketch on the cross-country issues facing international business, through detailed description of their level of disclosure (Political, Corporate, Internal) diverse areas and connected situations. The pros and cons of the traditional paradigms used by business people in dealing with such circumstances (Universalism and Relativism) will be weighed. In addition examples of “irresponsible business practices” resulting from cultural misunderstandings, ignorance and lack of contextualization on the behalf of business people will be provided.Business ethics, Cross-country ethical dilemmas, Corporate Social responsibility, Diversity

Value Through Diversity: Microfinance and Islamic Finance and Global Banking

Internet resources, extended media coverage and international organizations’ reports recently witness the increasing interest of western banks in new models of finance, particularly Islamic finance and microfinance. This new trend is not only channeled through the frame of corporate social responsibilities programs and policies or limited to ad hoc financial institutions (like microcredit banks or Islamic banks) as it is entering the financial offer of mainstream banks. The paper primarily outlines that many elements of microfinance could be considered consistent with the broader goals of Islamic banking. Apart from pure economic considerations which are not the aim of this analysis, the paper supports the thesis that by addressing new markets and embracing unconventional financial proposals, the global banking sector can contribute to the quest for diversity-oriented policies posed by an increasingly globalised scenario. The consequences this new trend is likely to have on inner banking structures are still unknown and are likely to interest the issue of wealth distribution. Moreover, from a more general point of view, by showing that even different moral ethos deep rooted in different cultural paradigms can be as profitable and available as western capitalistic ones, the banking sector can play a potential role in disseminating awareness on specific cultural and religious issues, resulting in increased integration of Muslim communities and low income investors in the long run and supporting commercial banks the close relation between economy and culture.Microfinance, Islamic finance, Diversity, Multiculturalism, Global banking

A note on welfare and the economic shocks

The behaviour of the permanent and transitory economic shocks for different levels of household's welfare is studied using both consumption and income measures. After testing for heteroskedasticity of the economic shocks, we use local polynomial regression models to estimate the variance of the shocks conditional on welfare level. Italian data covering the period 1980-2004 show evidence of heteroskedasticity of both the transitory and the permanent economic shocks, with the poor experiencing higher variances. The permanent shocks seem to have a more uniform effect at all welfare levels.

Euro area inflation persistence

This paper presents evidence on the lag between monetary policy actions and the response of inflation in the euro area as a whole as well as in Germany, Italy and France. In line with previous findings for the US and the UK, results here show that this lag is longer than one year both in the euro area and in individual countries, and that a lag of this length has existed in Europe at least since the collapse of the Bretton Woods system, despite the numerous changes in European monetary policy regime thereafter. Results based on alternative definitions of inflation persistence support these findings, although, they suggest that at the country level, a drop in German inflation persistence and a sizeable shift in the mean of inflation particularly in Italy and France are beyond doubt. The paper shows that euro area inflation persistence could well be an intrinsic phenomenon rather than a ?statistical fluke? due to aggregation. JEL Classification: E4, E5inflation

On the cohomology of almost complex and symplectic manifolds and proper surjective maps

Let $(X,J)$ be an almost-complex manifold. In \cite{li-zhang} Li and Zhang introduce H^{(p,q),(q,p)}_J(X)_{\rr} as the cohomology subgroups of the $(p+q)$-th de Rham cohomology group formed by classes represented by real pure-type forms. Given a proper, surjective, pseudo-holomorphic map between two almost-complex manifolds we study the relationship among such cohomology groups. Similar results are proven in the symplectic setting for the cohomology groups introduced in \cite{tsengyauI} by Tseng and Yau and a new characterization of the Hard Lefschetz condition in dimension $4$ is provided