Search results for " Crisi"
showing 10 items of 669 documents
Risk Management Optimization for Sovereign Debt Restructuring
2015
Abstract Debt restructuring is one of the policy tools available for resolving sovereign debt crises and, while unorthodox, it is not uncommon. We propose a scenario analysis for debt sustainability and integrate it with scenario optimization for risk management in restructuring sovereign debt. The scenario dynamics of debt-to-GDP ratio are used to define a tail risk measure, termed conditional Debt-at-Risk. A multi-period stochastic programming model minimizes the expected cost of debt financing subject to risk limits. It provides an operational model to handle significant aspects of debt restructuring: it collects all debt issues in a common framework, and can include contingent claims, m…
Current Account Adjustment and Retained Earnings
2018
This paper develops a formal strategy to calculate current accounts with retained earnings (RE) on equity investment and analyzes their adjustment during the global financial crisis. RE are the part of companies' profits which are reinvested and not distributed to shareholders as dividends. International statistical standards treat RE on foreign direct investment and RE on portfolio investment differently: while the former enter the current and financial account, the latter do not. We show that this differential treatment strongly affects current accounts of several advanced economies, frequently referred to as financial centers, with large positions in equity (portfolio) investment. Our em…
Biotic recovery after the end-Triassic extinction event: Evidence from marine bivalves of the Neuquén Basin, Argentina
2017
We analyze the Late Triassic extinction and Early Jurassic recovery of bivalve faunas within marine environments in the Atuel River area of the Neuquén Basin, Argentina. Data were collected from a hundred samples with invertebrates in a well-exposed uppermost Triassic to lower Jurassic section in the Neuquén Basin (southern Mendoza Province, Argentina) and allow a high-resolution reconstruction of the local diversity dynamics. The nearly continuous presence of marine stenohaline major taxa such as cnidarians, rhynchonelliform brachiopods, echinoderms and cephalopods indicates normal salinity throughout. All bivalve species were identified, and each occurrence was recorded in meters above th…
The response of Brent crude oil to the European central bank monetary policy
2022
Este artículo examina el impacto de las decisiones de política monetaria del Banco Central Europeo (BCE) sobre los precios del petróleo y la liquidez mediante un estudio de eventos con datos intradía. Analizamos el período de enero de 1999 a diciembre de 2020, que incluye la crisis financiera que comenzó en agosto de 2007. Nuestros resultados muestran una respuesta significativa de los rendimientos del petróleo solo durante la crisis financiera. Específicamente, encontramos que los rendimientos de los futuros de petróleo crudo Brent respondieron negativamente a variaciones inesperadas en la prima de riesgo italiana como medida de acciones de política monetaria no convencionales, y positivam…
A dynamic analysis of SP 500, FTSE 100 and EURO STOXX 50 indices under different exchange rates.
2018
In this study, we assess the dynamic evolution of short-term correlation, long-term cointe-gration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets from 1980 to 2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured in common and domestic currency terms, is conducted to evaluate comprehensively how exchange rate fluctuations affect the time-varying integration among the S&P 500, FTSE 100 and EURO STOXX 50 indices. The results obtained show that the dynamic correlation, cointegration and ECM-based long-run Gra…
Risk of scleroderma according to the type of immune checkpoint inhibitors
2020
Abstract Introduction Immune checkpoint inhibitors (ICIs) are associated with immune-related adverse events (irAEs). Among them, ICIs-induced systemic sclerosis (SSc) is poorly known. Methods To better characterize this irAE, our comprehensive approach combined the description of ICIs-induced scleroderma cases, the systematic review of the literature and the analysis of VigiBase, the WHO pharmacovigilance database. Results We identified two cases with underlying limited cutaneous SSc who presented a dramatic increase in the skin thickening following pembrolizumab, associated with scleroderma renal crisis in one case. In the literature, four cases of scleroderma and four cases of morphea hav…
Lead isotopic fingerprint in human scalp hair: The case study of Iglesias mining district (Sardinia, Italy)
2017
The Sulcis-Iglesiente district (SW Sardinia, Italy) has been, until recently, one of the most important Italian polymetallic mining areas for the extraction of lead. Epidemiological studies conducted over several decades have indicated this site at high risk of environmental crisis with possible adverse effects on the public health. In the present paper we discuss Pb isotope signatures in human scalp hair and road dust collected from the Sulcis-Iglesiente area in order to trace the exposure of populations to potential Pb sources. A total of 23 determinations (20 on hair samples and 3 on road dust samples) of lead isotope ratios (206Pb/207Pb and 208Pb/206Pb) were carried out. The obtained re…
536. Internal and international mobility of Romanian immigrants during the crisis
2016
Para paliar los efectos de la crisis económico-laboral, iniciada en 2007, los inmigrantes han desplegado diversas estrategias, entre las que destaca la movilidad geográfica. El artículo indaga en las migraciones que en los últimos años realizan los rumanos en España y desde España, para lo que se utilizan dos fuentes de información complementarias: la estadística y los testimonios de los inmigrantes. Los resultados de la investigación muestran el notable aumento de la circulación interior de trabajadores durante los primeros años y el progresivo aumento de las salidas, ya sea para retornar al lugar de origen, emigrar a otros países o desplazarse entre diferentes lugares. En general, estos d…
"Non è in crisi il romanzo borghese": una polemica degli anni Sessanta
2018
26 marzo 1965: su «Paese Sera-Libri» esce la trascrizione, mai più riedita, di una delle svariate tavole rotonde organizzate dal giornale in quegli anni, intitolata Requiem per il romanzo?: a cui hanno partecipato Alberto Arbasino, Francesco Leonetti, Alberto Moravia, Pier Paolo Pasolini, Edoardo Sanguineti, e, in veste di coordinatore, Armando Vitelli (fondatore e curatore del supplemento, con Piero Dallamano). La ripubblichiamo qui, insieme ad altri due pezzi di poco successivi, rispettivamente di Italo Calvino e di Vitelli stesso, che come vedremo le si agganciano.
EFFETTI ESDEBITATIVI (NELLA NUOVA DISCIPLINA DEL SOVRAINDEBITAMENTO) E FAVOR CREDITORIS
2019
A partire dalla disciplina in tema di sovraindebitamento contenuta adesso nel Codice della crisi di impresa e dell'insolvenza, l'articolo propone una lettura dell'esdebitazione quale tassello di più ampie strategie di sostegno della domanda e, per questa via, del mercato. Sì da restituire una versione aggiornata-ma niente affatto scolorita-di quel favor che tradizionalmente assiste il credito e la sua tutela