The Phillips Curve and the Italian Lira, 1861-1998

We examine Italian inflation rates and the Phillips curve with a very long-run perspective, one that covers the entire existence of the Italian lira from political unification (1861) to the entry of Italy in the European Monetary Union (end of 1998). We first study the volatility, persistence and stationarity of the Italian inflation rate over the long run and across various exchange-rate regimes that have shaped Italian monetary history. Next, we estimate alternative Phillips equations and investigate the extent to which nonlinearities, asymmetries and structural changes characterize the inflation-output trade-off in the long run. We capture the effects of structural changes and asymmetries on the estimated parameters of the inflation-output trade-off relying partly on sub-sample estimates and partly on time-varying parameters estimated with the Kalman filter. Finally, we investigate causal relationships between inflation rates and output and extend the analysis to include the US and the UK for comparison purposes. The inference is that Italy has experienced a conventional inflation-output trade-off only during times of low inflation and stable aggregate supply.inflation, Phillips curve, Italian lira

Low-cost electrochemical impedance spectroscopy system for corrosion monitoring of metallic antiquities and works of art

Electrochemical impedance spectroscopy (EIS) is recognized to be a powerful and noninvasive technique to test the integrity of protective coatings on memorials, but commercial EIS systems are rather costly though versatile devices. This paper describes a low cost and portable EIS system that is based on a compact digital signal processor (DSP) board and embeds the potentiostatic function so that it can be used without requiring an external potentiostat. The software that runs on the DSP is designed to analyze the electrochemical impedance only in a reduced frequency range in order to produce a simple corrosion alert result. The device is equipped with a digital interface and can be connected to a personal computer to carry out a complete frequency analysis and perform a more complex data processing

Mucosa-Environment Interactions in the Pathogenesis of Rheumatoid Arthritis

Mucosal surfaces play a central role in the pathogenesis of rheumatoid arthritis (RA). Several risk factors, such as cigarette smoking, environmental pollution, and periodontitis interact with the host at the mucosal level, triggering immune system activation. Moreover, the alteration of microbiota homeostasis is gaining increased attention for its involvement in the disease pathogenesis, modulating the immune cell response at a local and subsequently at a systemic level. Currently, the onset of the clinical manifest arthritis is thought to be the last step of a series of pathogenic events lasting years. The positivity for anti-citrullinated protein antibodies (ACPAs) and rheumatoid factor (RF), in absence of symptoms, characterizes a preclinical phase of RA namely systemic autoimmune phase- which is at high risk for disease progression. Several immune abnormalities, such as local ACPA production, increased T cell polarization towards a pro-inflammatory phenotype, and innate immune cell activation can be documented in at-risk subjects. Many of these abnormalities are direct consequences of the interaction between the environment and the host, which takes place at the mucosal level. The purpose of this review is to describe the humoral and cellular immune abnormalities detected in subjects at risk of RA, highlighting their origin from the mucosa environment interaction

Singing to infants matters: early singing interactions affect musical preferences and facilitate vocabulary building

This research revealed that the frequency of reported infant-parent singing interactions predicted 6-month-old infants' performance in laboratory music experiments and mediated their language development in the second year. At 6 months, infants (n=36) were tested using a preferential listening procedure assessing their sustained attention to instrumental and sung versions of the same novel tunes whilst the parents completed an ad-hoc questionnaire assessing home musical interactions with their infants. Language development was assessed with a follow-up when the infants were 14-month-old (n=26). The main results showed that 6-month-olds preferred listening to sung rather than instrumental melodies, and that self-reported high levels of parental singing with their infants[i] were associated with less pronounced preference for the sung over the instrumental version of the tunes at 6 months, and [ii] predicted significant advantages on the language outcomes in the second year. The results are interpreted in relation to conceptions of developmental plasticity

Macroeconomic instability and the phillips curve in Italy

The theme of this paper is whether there was a textbook-like inflation-output tradeoff in post-WWII Italy. We estimate both standard and time-varying parameter models of the relationship between inflation and the level of real economic activity over the 1949 to 2010 period and find no evidence of a stable, significant and positive association between output and prices. We attribute this evidence primarily to a fiscally dominated monetary policy and a rigid indexation mechanism aimed at protecting wages from inflation. These two institutions contributed to the persistent inflation bias and macroeconomic instability that lasted almost until the entry of the country in the European Monetary Union