The Nature of Money in a Clearing System. From Liquidity to Liquidness

Keynes' project for an International Clearing Union does not respond only to the economic and political needs of the particular historical moment in which it was conceived, i.e. the establishment of an international money really complementary to national currencies. With that project, in fact, Keynes conceives a new kind money, whose positive character is to be un-hoardable. The non-hoardability of the bancor raises the issue of the nature of what is commonly known as 'liquidity', and allows not only to distinguish the liquidity that is proper to money from liquidity in general, but also to refine the concept of liquidity in itself. And finally, it allows to think about the very possibility of other forms of monetary complementarity, notably at different local levels

Transforming Sovereign Debts into Perpetuities through a European Debt Agency

This paper outlines the main operating framework of a Debt Agency (DA) for the management of the Eurozone sovereign debts. The framework leverages on the potential irredeemable nature of sovereign debts in order to build a common bond. Structurally filtering liquidity risk, the DA can price the Member States' installments by referring only to their fundamental risk. The common bond issued by the DA then avoids mutualisation by design, hence it can be directly bought by the ECB. Thanks to its structural intertemporal sustainability, the DA framework sketched here can serve as a benchmark for institutional and political decisions

IG-File: un nuovo strumento per l’ottimizzazione della detersione canalare e per la misurazione del diametro apicale

RiassuntoObiettivoLo scopo del lavoro è la descrizione di un nuovo tipo di file, con design innovativo, ideato sia per l’attivazione sonica degli irriganti durante la fase di detersione sia per la misurazione del diametro apicale.Materiali e metodiPer valutare l’efficacia delle Sonic-Tip è stato condotto un test alla MicroCT. È stata selezionata una radice di un premolare superiore che presentava canali laterali; dopo la preparazione chemio-meccanica del canale radicolare sono stati effettuati due lavaggi endocanalari con una soluzione radiopaca: il primo lavaggio è avvenuto erogando passivamente la soluzione radiopaca nel canale con un ago di piccolo calibro a 2mm dalla lunghezza di lavoro; il secondo lavaggio è avvenuto erogando passivamente la soluzione radiopaca all’interno del canale a 2mm dalla lunghezza di lavoro, la quale poi è stata attivata con la Sonic-Tip numero 20. Dopo ogni lavaggio la radice è stata osservata alla MicroCT.RisultatiI risultati dimostrano come sia stato possibile, grazie all’attivazione sonica dell’irrigante all’interno dello spazio endodontico, far penetrare la soluzione nei canali laterali.Discussione e conclusioniDetersione, sagomatura e otturazione tridimensionale dello spazio endodontico sono le tre fasi principali della terapia endodontica. La detersione è raggiunta congiuntamente tramite l’azione meccanica degli strumenti e l’azione chimica delle soluzioni irriganti. Quindi, le soluzioni irriganti devono avere azioni differenziate: dovrebbero rimuovere il substrato organico, avere un effetto battericida e infine rimuovere lo strato di materiale inorganico prodotto dalla limatura degli strumenti (smear layer). A tutt’oggi non vi sono soluzioni irriganti che ottengono tutti e tre questi risultati. Da molti studi si evince come l’attivazione sonica o ultrasonica degli irriganti, all’interno di canali radicolari ben sagomati, assuma un ruolo strategico nella detersione di tutte le complessità dello spazio endodontico. Altra fase fondamentale della terapia endodontica è l’otturazione tridimensionale del sistema dei canali radicolari con guttaperca termoplasticizzata. Prima di procedere alla fase di otturazione è fondamentale conoscere il diametro apicale del canale preparato, in modo da scegliere i materiali da otturazione più idonei (coni di guttaperca, portatori di calore, otturatori thermafil), ottimizzare le forze di condensazione ed evitare fenomeni di overfilling.SummaryObjectiveThe purpose of this article is to describe a new file featuring a unique design created for both the sonic activation of irrigants during cleaning and measuring the apical diameter.Materials and methodsTo assess the effectiveness of Sonic-Tips, a MicroCT scan was performed on an upper premolar root with lateral canals. After a chemio-mechanical (cleaning and shaping process) preparation of the root canal, the same root canal was irrigated twice with a radiopaque solution. The first irrigation was done by injecting the radiopaque solution passively in the root canal through a small gauge needle, 2mm from working length. The second irrigation again was done by delivering the radiopaque solution passively in the root canal through a small gauge needle, 2mm from working length, but in the latter case a Sonic-Tip number 20 was activated. After each cleaning (irrigation) the root was observed under MicroCT scan.ResultsThe results demonstrate how Sonic-Tips enabled flushing and made it possible for the irrigant to penetrate into lateral canals.Discussion and conclusionsCleaning, shaping and three-dimensional obturation are the three main phases of the endodontic treatement. The goal of proper cleaning of a complex root canal is not easily achieved. From previous studies, it is clearly evident how “Sonic and Ultrasonic activation of irrigants” plays a strategic role in the cleaning of a well-shaped complex root canal. Another key stage of the endodontic treatment is the “three-dimensional filling” of root canals with thermoplastic guttapercha cones. Before the filling phase, it is essential to know the accurate apical diameter of the canal, in order to choose the suitable filling material (gutta percha points, Thermafil obturators or heat carriers), followed by applying optimal condensation pressure in order to prevent overfilling

Effects of the combined action of a desensitizing gel and toothpaste on dentin hypersensitivity due to dental bleaching

Objectives: The present study is aimed at evaluating the effectiveness of a fluoride- and potassium nitrate-containing gel and toothpaste in reducing dentinal hypersensitivity due to dental bleaching. Materials and methods: Specific inclusion and exclusion criteria were used to recruit patients for the study. They were randomly allocated to a test or a placebo control group. Patients underwent a treatment of home dental bleaching with 10% carbamide peroxide. Dental shades were evaluated in a standardized environment and dentinal hypersensitivity was valuated by means of evaporation stimuli. A nominal scale was used to score the painful reaction. The patients were recalled 8, 15 and 28 days after the baseline for both shade and sensitivity assessment. Statistical analysis was performed using the Student’s T-test. Results: The patients recall rate was 96.9%. The statistical analysis demonstrated a significant reduction of the painful symptoms in the experimental group (p=0.031) while no statistically significant differences were evidenced in the control group at any follow-up recall (p>0.05). Discussion: The tested agents proved to be safe and effective in the short term. Neither pigmentations nor interferences with the bleaching action of peroxides due to the desensitizing agents were observed. The compliance of the patients to the proposed protocol as well as the motivation to maintain good oral hygiene were paramount in the achievement of the reported results. Conclusions: The use of a desensitizing gel and toothpaste containing fluoride and potassium nitrate was effective in reducing dentinal hypersensitivity due to dental bleaching and did not interfere with the bleaching action of peroxides. Clinical significance: Desensitizing gels and toothpastes containing fluoride and potassium nitrate can be considered safe and effective in the control of tooth sensitivity after dental bleaching

Nonsurgical management of complex endodontic cases with several periapical lesions: a case series

Abstract Aim Today, thanks to modern technologies as operative microscope, ultrasonic tips, devices to activate irrigation and tridimensional obturation performed with thermo plasticized gutta-percha, excellent results could be obtained. Materials and methods In this study, we present 5 patients with the presence of periapical lesions in molars and incisors with history of pain. Modern endodontic technologies were used. The rationale of using these technologies was to obtain a chemo-mechanical cleansing and obturation of the entire endodontic system and to gain the lesion resolution with a non-surgical approach. Results A success rate of 100% was obtained. Radiographs and clinical examinations were done until 10 years. All the cases highlighted the success achieved in the short and long term through the complete resolution of the lesions and therefore the reconstitution of the lamina dura. Conclusions The positive results highlighted by these clinical cases demonstrate how the use of modern technologies is essential to avoid iatrogenic damage and to gain safe and reproducible results

Odontorizectomie: un case series a 12 anni

The study evaluates whether root amputation may be considered a valid alternative to or support for implant treatment in the long term. The series comprised 20 patients, observed from 1997 to 2007; all cases were of mandibular molars in which the distal root was preserved. Causes of the operation were: failure of orthograde therapy with fracture of mesial root, perforation of pulp chamber floor and internal-external mesial root resorption. After 10 years, the success rate was 70%. The encouraging results indicate that root amputation is still an effective method. From both biologic and economic standpoints, it may be considered as an alternative to and/or support for more expensive treatments, but must be employed following precise clinical indications

Stabilising market expectations through a market tool: a proposal for an enhanced TPI

This paper puts forward a proposal to complete the ECB Transmission Protection Instrument (TPI) with the aim of making it more effective in anchoring the yields of European sovereign debts to Member States’ fundamentals. We use a model in which yields fluctuate within bands, which we specify following two alternative approaches: stochastic and deterministic. The resulting fluctuation's interval represents the range of yields that can be seen as justified by Member States’ fundamentals; yields outside the band would instead trigger the ECB intervention as foreseen by the TPI. The proposal minimizes the risk of moral hazard, as the fluctuation bands vary as each country's creditworthiness changes. Moreover, the proposal is directly implementable with existing Treaties

VEGF as a survival factor in ex vivo models of early diabetic retinopathy

PURPOSE: Growing evidence indicates neuroprotection as a therapeutic target in diabetic retinopathy (DR). We tested the hypothesis that VEGF is released and acts as a survival factor in the retina in early DR. METHODS: Ex vivo mouse retinal explants were exposed to stressors similar to those characterizing DR, that is, high glucose (HG), oxidative stress (OS), or advanced glycation end-products (AGE). Neuroprotection was provided using octreotide (OCT), a somatostatin analog, and pituitary adenylate cyclase activating peptide (PACAP), two well-documented neuroprotectants. Data were obtained with real-time RT-PCR, Western blot, ELISA, and immunohistochemistry. RESULTS: Apoptosis was induced in the retinal explants by HG, OS, or AGE treatments. At the same time, explants also showed increased VEGF expression and release. The data revealed that VEGF is released shortly after exposure of the explants to stressors and before the level of cell death reaches its maximum. Retinal cell apoptosis was inhibited by OCT and PACAP. At the same time, OCT and PACAP also reduced VEGF expression and release. Vascular endothelial growth factor turned out to be a protective factor for the stressed retinal explants, because inhibiting VEGF with a VEGF trap further increased cell death. CONCLUSIONS: These data show that protecting retinal neurons from diabetic stress also reduces VEGF expression and release, while inhibiting VEGF leads to exacerbation of apoptosis. These observations suggest that the retina in early DR releases VEGF as a prosurvival factor. Neuroprotective agents may decrease the need of VEGF production by the retina, therefore limiting the risk, in the long term, of pathologic angiogenesis

The β3 adrenoceptor in proliferative retinopathies: "Cinderella" steps out of its family shadow

: In the retina, hypoxic condition leads to overgrowing leaky vessels resulting in altered metabolic supply that may cause impaired visual function. Hypoxia-inducible factor-1 (HIF-1) is a central regulator of the retinal response to hypoxia by activating the transcription of numerous target genes, including vascular endothelium growth factor, which acts as a major player in retinal angiogenesis. In the present review, oxygen urge by the retina and its oxygen sensing systems including HIF-1 are discussed in respect to the role of the beta-adrenergic receptors (β-ARs) and their pharmacologic manipulation in the vascular response to hypoxia. In the β-AR family, β1- and β2-AR have long been attracting attention because their pharmacology is intensely used for human health, while β3-AR, the third and last cloned receptor is no longer increasingly emerging as an attractive target for drug discovery. Here, β3-AR, a main character in several organs including the heart, the adipose tissue and the urinary bladder, but so far a supporting actor in the retina, has been thoroughly examined in respect to its function in retinal response to hypoxia. In particular, its oxygen dependence has been taken as a key indicator of β3-AR involvement in HIF-1-mediated responses to oxygen. Hence, the possibility of β3-AR transcription by HIF-1 has been discussed from early circumstantial evidence to the recent demonstration that β3-AR acts as a novel HIF-1 target gene by playing like a putative intermediary between oxygen levels and retinal vessel proliferation. Thus, targeting β3-AR may implement the therapeutic armamentarium against neovascular pathologies of the eye

On the comparison of age determination methods based on dental development radiographic studies in a sample of Italian population

OBJECTIVES: This study investigated the degree of reliability, complexity of use and possibility of further refinement of eight radiographic methods for the age determination of subjects in the growth phase, applied on a sample of Italian population. MATERIALS AND METHODS: Each considered method was tested on a sample of 178 digitized panoramic radiographs (97 males and 81 females, aged 5 to 22 years). The obtained data were processed by statistical analysis. RESULTS: The overall Absolute Mean Error (AME) was on average equal to 0.89 years; within this error range fell approximately 61% of the subjects in our sample. The overall average of AME plus 1 standard deviation (SD) was equal to approximately 1.70 years, in the context of which fell about 84.5% of the sample investigated. CONCLUSIONS: The statistical analysis of the data obtained by applying on our sample the considered methods showed, for each of them, the level of reliability in terms of absolute error with the relative SD (i.e., exact match between the age determined by the evaluators and the actual age, in terms of absolute value)