Oil Shocks and External Balances

This paper studies the effects of demand and supply shocks in the global crude oil market on several measures of countries’ external balance, including the oil trade balance, the non-oil trade balance, the current account and changes in net foreign assets (NFA) during 1975– 2004. We explicitly take a multilateral and global perspective. In addition to the United States, the Euro area and Japan, we consider a number of regional aggregates including oil-exporting economies and middle-income oil-importing economies. Our first result is that the effect of oil shocks on the merchandise trade balance and the current account, which depending on the source of the shock can be large, depends critically on the response of the non-oil trade balance, and differs systematically between the United States and other oil importing countries. Second, using the Lane-Milesi-Ferretti NFA data set, we document the presence of large and systematic (if not always statistically significant) valuation effects in response to oil shocks, not only for the United States, but also for other oil-importing economies and for oil exporters. Our estimates suggest that increased international financial integration will tend to cushion the effect of oil shocks on NFA positions for major oil exporters and for the United States, but may amplify it for other oil importers.Oil prices; External Balances; Oil demand Shocks; Oil supply Shocks; International Financial Integration.

Asthma and metabolic syndrome: Current knowledge and future perspectives.

Asthma and obesity are epidemiologically linked; however, similar relationships are also observed with other markers of the metabolic syndrome, such as insulin resistance and dyslipidemia, which cannot be accounted for by increased body mass alone. Obesity appears to be a predisposing factor for the asthma onset, both in adults and in children. In addition, obesity could make asthma more difficult to control and to treat. Although obesity may predispose to increased Th2 inflammation or tendency to atopy, other mechanisms need to be considered, such as those mediated by hyperglycaemia, hyperinsulinemia and dyslipidemia in the context of metabolic syndrome. The mechanisms underlying the association between asthma and metabolic syndrome are yet to be determined. In the past, these two conditions were believed to occur in the same individual without any pathogenetic link. However, the improvement in asthma symptoms following weight reduction indicates a causal relationship. The interplay between these two diseases is probably due to a bidirectional interaction. The purpose of this review is to describe the current knowledge about the possible link between metabolic syndrome and asthma, and explore potential application for future studies and strategic approaches

Asthma in the elderly: A different disease?

Asthma is a chronic airway disease that affects all ages, but does this definition also include the elderly? Traditionally, asthma has been considered a disease of younger age, but epidemiological studies and clinical experience support the concept that asthma is as prevalent in older age as it is in the young. With the ever-increasing elderly population worldwide, the detection and proper management of the disease in old age may have a great impact from the public health perspective. Whether asthma in the elderly maintains the same characteristics as in young populations is an interesting matter. The diagnostic process in older individuals with suspected asthma follows the same steps, namely a detailed history supported by clinical examination and laboratory investigations; however, it should be recognised that elderly patients may partially lose reversibility of airway obstruction. The correct interpretation of spirometric curves in the elderly should take into account the physiological changes in the respiratory system. Several factors contribute to delaying the diagnosis of asthma in the elderly, including the age-related impairment in perception of breathlessness. The management of asthma in advanced age is complicated by the comorbidities and polypharmacotherapy, which advocate for a comprehensive approach with a multidimensional assessment. It should be emphasised that older age frequently represents an exclusion criterion for eligibility in clinical trials, and current asthma medications have rarely been tested in elderly asthmatics. Ageing is associated with pharmacokinetic changes of the medications. As a consequence, absorption, distribution, metabolism and excretion of antiasthmatic medications can be variably affected. Similarly, drug-to-drug interactions may reduce the effectiveness of inhaled medications and increase the risk of side-effects. For this reason, we propose the term “geriatric asthma” be preferred to the more generic “asthma in the elderly”

Effect of age and asthma duration upon elastase and alpha1-antitrypsin levels in adult asthmatics

In asthmatic subjects an imbalance between elastase and alpha1-antitrypsin (alpha1-PI) exists. This study aims to evaluate whether ageing per se affects the levels of elastase. Both young and elderly asthmatics with comparable severity and duration of disease, as well as young and elderly healthy subjects, underwent an induced sputum procedure to measure levels of elastase and alpha1-PI. The percentage of sputum neutrophils and eosinophils was higher in young and elderly asthmatics than in young and elderly controls. The levels of both total and active elastase were significantly higher in young and elderly asthmatics than in young and elderly controls, and directly correlated with the percentage of neutrophils. In addition, in both young and elderly asthmatics the levels of total and active elastase were negatively correlated with forced expiratory volume in one second values, but positively correlated with the duration of the disease. This study indicates that ageing per se does not necessarily lead to a progressive elastase/alpha1-antitrypsin imbalance in asthma, and suggests that an important variable in the development of airway remodelling in both young and elderly asthmatics is represented by the duration of the disease

Innovation and social learning in higher education institutions

Considering the existing experiences and the concrete needs of the hearing - impaired and visually - impaired groups for accessing HEI programmes, this handboook brings some important innovations: 1. A functional approach, proposing the methods and procedures to be used for developing and delivering ICT based learning offer valid also for these target group (not specially done for them, but designed in such a way that correspond also to their specific needs). This is that will support the target groups in their education and also social inclusion. 2. A subsequent proposal of a kind of “Quality Label”, to establish quality standards and assessment procedures and instruments to be used for evaluating whether Higher Educational Institutions’ offers and training programmes correspond to the ISOLearn standards regarding the accessibility of these groups to their learning offer. 3. Both the Handbook and the “Quality Label” should be tested on a specific qualification which should become a benchmark for the HEI ICT based learning programmes. The concrete experience will demonstrate the benefits for all the stakeholders (e.g. HEI and disadvantaged groups) of promoting social learning approach in HEI.info:eu-repo/semantics/publishedVersio

Measurements of projectile fragments from 70 Zn (15 MeV/nucleon) + 64 Ni collisions with the MAGNEX spectrometer at INFN-LNS

The present work is focused on our efforts to produce and identify neutron-richrare isotopes from peripheral reactions below the Fermi energy. High-quality experimental data were obtained from a recent experiment with the MAGNEX spectrometer at INFN-LNS in Catania, Italy. The main goal of this effort is to describe the adopted identification techniques used to analyze the data from the reaction 70 Zn (15 MeV/nucleon) + 64 Ni. The particle identification procedure is based on a novel approach that involves the reconstruction of both the atomic number Z and the ionic charge q of the ions, followed by the identification of themass. Our method was successfully applied to identify neutron-rich ejectiles from multinucleon transfer in the above reaction 70 Zn + 64 Ni at 15 MeV/nucleon. The analysis of the data is ongoing. We expect to obtain the angular and momentum distributions of the fragments, along with their production cross sections. These data, along with comparisons with theoretical models are expected to contribute to a better understanding of the complex reaction mechanisms of multinucleon transfer that dominate this energy regime

Recent results on heavy-ion induced reactions of interest for neutrinoless double beta decay at INFN-LNS

Abstract. The possibility to use a special class of heavy-ion induced direct reactions, such as double charge exchange reactions, is discussed in view of their application to extract information that may be helpful to determinate the nuclear matrix elements entering in the expression of neutrinoless double beta decay halflife. The methodology of the experimental campaign presently running at INFN - Laboratori Nazionali del Sud is reported and the experimental challenges characterizing such activity are describe

New results from the NUMEN project

NUMEN aims at accessing experimentally driven information on Nuclear Matrix Elements (NME) involved in the half-life of the neutrinoless double beta decay (0νββ), by high-accuracy measurements of the cross sections of Heavy Ion (HI) induced Double Charge Exchange (DCE) reactions. First evidence about the possibility to get quantitative information about NME from experiments is found for the (18O,18Ne) and (20Ne,20O) reactions. Moreover, to infer the neutrino average masses from the possible measurement of the half-life of 0νββ decay, the knowledge of the NME is a crucial aspect. The key tools for this project are the high resolution Superconducting Cyclotron beams and the MAGNEX magnetic spectrometer at INFN Laboratori Nazionali del Sud in Catania (Italy). The measured cross sections are extremely low, limiting the present exploration to few selected isotopes of interest in the context of typically low-yield experimental runs. A major upgrade of the LNS facility is foreseen in order to increase the experimental yield of at least two orders of magnitude, thus making feasible a systematic study of all the cases of interest. peerReviewe

Are Asthmatics Enrolled in Randomized Trials Representative of Real-Life Outpatients?

Background/Objective: This study was aimed at exploring to what extent populations enrolled in randomized controlled trials (RCTs) of inhalation combination treatment for mild/moderate asthma in adults are fully representative of ‘real-life' populations. The following is a retrospective analysis of the clinical records of outpatient subjects with an ascertained diagnosis of asthma. Methods: A retrospective analysis was performed. Stable conditions, such as smoking habit and chronic diseases other than asthma, were identified as exclusion criteria for RCTs. The selected criteria were then applied to asthmatic outpatients, yielding a population that was potentially eligible for RCTs. Results: Out of 1,909 subjects, 824 (43.2%) met at least one of the exclusion criteria for RCTs. Cigarette smoking (occurring in 34.3% of the entire population), lung diseases other than asthma (5.0%), anxiety and depression (3.3%), arrhythmias (2.3%), and coronary artery disease (1.2%) would have been the most frequent causes for exclusion from RCTs. The proportion of patients excluded from RCTs appears to increase with age, reaching 57.1% in patients aged >85 years. Conclusions: In a real-life setting, >40% of subjects with mild/moderate asthma are currently treated by protocols based on the results of RCTs for which they would not have been eligible. This proportion increases in elderly patients with comorbidities. These findings limit the generalizability of RCTs and advocate that complementary pragmatic studies be conducted. © 2015 S. Karger AG, Base

Oil shocks and external balances

We provide estimates of the effects of demand and supply shocks in the global crude oil market on several measures of oil exporters' and oil importers' external balances, including the oil trade balance, the non-oil trade balance, the current account, capital gains, and changes in net foreign assets (NFA). First, we show that the effect of oil demand and supply shocks on the merchandise trade balance and the current account, which depending on the source of the shock can be large, depends critically on the response of the non-oil trade balance. Our results provide evidence of an intermediate degree of international financial integration. Second, we document the presence of large and systematic valuation effects in response to these shocks. Valuation effects overall tend to cushion the effect of oil demand and supply shocks on the NFA positions of oil exporters and oil importers. Third, we quantify the overall importance of global business cycle demand shocks as well as oil-market specific demand and supply shocks for external balances.Oil prices External adjustment Oil demand Oil supply International financial integration Valuation effects