THE ISSUE OF MUNICIPAL BONDS, A CHALLENGE FOR THE ROMANIAN LOCAL PUBLIC ADMINISTRATIONS

This paperwork studies the municipal bond loan issue situation on the Romanianfinancial market and its relation with the local financial decentralization. We discussed also aboutthe opportunity of the municipal rating in selling local bonds and the advantages gave by this kindof financial instruments, both for the issuers and the investors.municipal bonds, local public administration, decentralization, rating;

From source to target and back: symmetric bi-directional adaptive GAN

The effectiveness of generative adversarial approaches in producing images according to a specific style or visual domain has recently opened new directions to solve the unsupervised domain adaptation problem. It has been shown that source labeled images can be modified to mimic target samples making it possible to train directly a classifier in the target domain, despite the original lack of annotated data. Inverse mappings from the target to the source domain have also been evaluated but only passing through adapted feature spaces, thus without new image generation. In this paper we propose to better exploit the potential of generative adversarial networks for adaptation by introducing a novel symmetric mapping among domains. We jointly optimize bi-directional image transformations combining them with target self-labeling. Moreover we define a new class consistency loss that aligns the generators in the two directions imposing to conserve the class identity of an image passing through both domain mappings. A detailed qualitative and quantitative analysis of the reconstructed images confirm the power of our approach. By integrating the two domain specific classifiers obtained with our bi-directional network we exceed previous state-of-the-art unsupervised adaptation results on four different benchmark datasets

What explains stock markets'vulnerability to the 2007-2008 crisis ?

This paper examines the determinants of stock markets'vulnerability to the 2007-2008 crisis. Given that the United States (US) was the crisis epicenter, the authors analyze the factors driving the co-movement between US returns and stock returns in 83 countries. The analysis distinguishes between the period before and after the collapse of Lehman Brothers. The findings indicate that the main channel of transmission was financial. There is also evidence of a"wake-up call"or"demonstration effect"in the first stage of the crisis, because countries with vulnerable banking and corporate sectors exhibited higher co-movement with the US market. However, despite a collapse in trade across countries, the analysis does not find support for this channel of transmission.Debt Markets,Mutual Funds,Markets and Market Access,Economic Theory&Research,Emerging Markets

CAICYT: de servicios de información científica a centro de investigación en información científica

Reseña la misión y funciones del CAICYT-CONICET y sus actividades de apoyo a la edición e investigación científicas, con mención a algunos hitos de su historia institucional.Fil: Carsen, Tatiana Maria. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Saavedra 15. Centro Argentino de Información Cientifica y Tecnologica; Argentin

Domain Generalization by Solving Jigsaw Puzzles

Human adaptability relies crucially on the ability to learn and merge knowledge both from supervised and unsupervised learning: the parents point out few important concepts, but then the children fill in the gaps on their own. This is particularly effective, because supervised learning can never be exhaustive and thus learning autonomously allows to discover invariances and regularities that help to generalize. In this paper we propose to apply a similar approach to the task of object recognition across domains: our model learns the semantic labels in a supervised fashion, and broadens its understanding of the data by learning from self-supervised signals how to solve a jigsaw puzzle on the same images. This secondary task helps the network to learn the concepts of spatial correlation while acting as a regularizer for the classification task. Multiple experiments on the PACS, VLCS, Office-Home and digits datasets confirm our intuition and show that this simple method outperforms previous domain generalization and adaptation solutions. An ablation study further illustrates the inner workings of our approach.Comment: Accepted at CVPR 2019 (oral

Sequence variation in CYP51A from the Y strain of Trypanosoma cruzi alters its sensitivity to inhibition

CYP51 (sterol 14α-demethylase) is an efficient target for clinical and agricultural antifungals and an emerging target for treatment of Chagas disease, the infection that is caused by multiple strains of a protozoan pathogen Trypanosoma cruzi. Here, we analyze CYP51A from the Y strain T. cruzi. In this protein, proline 355, a residue highly conserved across the CYP51 family, is replaced with serine. The purified enzyme retains its catalytic activity, yet has been found less susceptible to inhibition. These biochemical data are consistent with cellular experiments, both in insect and human stages of the pathogen. Comparative structural analysis of CYP51 complexes with VNI and two derivatives suggests that broad-spectrum CYP51 inhibitors are likely to be preferable as antichagasic drug candidates.Fil: Cherkesova, Tatiana S.. National Academy of Sciences of Belarus. Institute of Bioorganic Chemistry; BielorrusiaFil: Hargrove, Tatiana Y.. Vanderbilt University; Estados UnidosFil: Vanrell, Maria Cristina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Mendoza. Instituto de Histología y Embriología de Mendoza Dr. Mario H. Burgos. Universidad Nacional de Cuyo. Facultad de Cienicas Médicas. Instituto de Histología y Embriología de Mendoza Dr. Mario H. Burgos; ArgentinaFil: Ges, Igor. Vanderbilt University; Estados UnidosFil: Usanov, Sergey A.. National Academy of Sciences of Belarus. Institute of Bioorganic Chemistry; BielorrusiaFil: Romano, Patricia Silvia. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Mendoza. Instituto de Histología y Embriología de Mendoza Dr. Mario H. Burgos. Universidad Nacional de Cuyo. Facultad de Cienicas Médicas. Instituto de Histología y Embriología de Mendoza Dr. Mario H. Burgos; ArgentinaFil: Lepesheva, Galina I.. Vanderbilt University; Estados Unido