Search results for " spread"

Extranodal extension of nodal metastasis is the main prognostic moderator in squamous cell carcinoma of the esophagus after neoadjuvant chemoradiothe…

2017

Several studies, including comprehensive systematic reviews with meta-analyses of our group of research, have demonstrated the negative prognostic impact of the extranodal extension of nodal metastasis (ENE) in different cancer types, including squamous cell carcinoma (SCC) of the vulva, of the penis and of head and neck, as well as in tumors of the digestive and genitourinary systems, in thyroid cancer and others (1-17).

Electro-optic control of photographic imaging quality through ‘Smart Glass’ windows in optics demonstrations

2017

An experimental setup allowing the modeling of conditions in optical devices and in the eye at various degrees of scattering such as cataract pathology in human eyes is presented. The scattering in cells of polymer-dispersed liquid crystals (PDLCs) and 'Smart Glass' windows is used in the modeling experiments. Both applications are used as optical obstacles placed in different positions of the optical information flow pathway either directly on the stimuli demonstration computer screen or mounted directly after the image-formation lens of a digital camera. The degree of scattering is changed continuously by applying an AC voltage of up to 30–80 V to the PDLC cell. The setup uses a camera wi…

Banking Competition, Collateral Constraints and Optimal Monetary Policy

2013

We analyze optimal monetary policy in a model with two distinct financial frictions. First, borrowing is subject to collateral constraints. Second, credit flows are intermediated by monopolistically competitive banks, thus giving rise to endogenous lending spreads. We show that, up to a second order approximation, welfare maximization is equivalent to stabilization of four goals: inflation, output gap, the consumption gap between constrained and unconstrained agents, and the distribution of the collateralizable asset between both groups. Following both financial and non-financial shocks, the optimal monetary policy commitment implies a short-run trade-off between stabilization goals. Such p…

Unconventional monetary policy reaction functions: evidence from the US

2020

Abstract We specify unconventional monetary policy reaction functions for the Fed using linear and nonlinear econometric frameworks. We find that nonstandard policy measures are largely driven by the dynamics of inflation and the output gap, with the effect being particularly strong during QE rounds. Moreover, we uncover the presence of asymmetry and regime dependence in central bank’s actions since the global financial crisis, especially concerning the response of the term spread and the shadow short rate to the growth rate of central bank reserves. From a policy perspective and given the lack of a systematic response of monetary policy to asset price growth in nonstandard times, our findi…

Information processing in the stock market around anticipated accounting information: earnings release

2012

Earnings announcements are anticipated events with significant price impacts. This fact can motivate informed traders to trade on private information and liquidity providers to reduce liquidity in order to be careful about insider trading. In this paper, we examine the effect of earnings announcements on information asymmetry. Specifically, we investigate whether liquidity suppliers value the possibility of trading with informed agents and whether market behaviour reflects this. To achieve this objective, we take into account the sign of the surprise, the quarter of the announcement, the quantity of previous information and the quality of the information released. One of the main results of…

Interest rate co-movements, global factors and the long end of the term spread

2010

Domestic vs. International correlations of interest rate maturities

2010

The association between long and short interest rates is traditionally envisaged from a purely domestic perspective, where it is believed an empirical regularity. Hence, the weakening of this relationship in the first half of the 2000s has represented a conundrum, calling for a reassessment of the term structure and the conduct of monetary policy. Some commentators have called for investigations into the international dimension of this puzzle. Hence, in this paper we employ recent advances in panel data econometrics to investigate the co-movement of interest rate maturities both at the domestic and international levels for a sample of industrial countries. Specifically, we use the Ng (2006)…

Do We have a Regional Interest Rate Spread in Italy

2008

Filtering out intersymbol interference in spread-spectrum communication systems

1979

In this letter the transfer characteristic of the optimum filter suitable for eliminating intersymbol interference in pseudo-noise spread-spectrum communication systems is determined. Such a characteristic is independent of the code sequence employed.

Large deep-seated slump structure off Ischia volcanic island, Eastern Tyrrhenian sea (Italy)

2012

Ischia island is located over the Campania sector of Eastern Tyrrhenian margin and represents the sub-aerial section of a larger, E-W trending volcanic ridge including others submerged or buried volcanic edifices. The island itself result from the coalescence of a multitude of small to medium scale eruptions leading to the emplacement of domes, lava flow and pyroclastic deposits and ignimbrites (VEZZOLI et al., 1988) ranging from alkali basalts to trachytes. The oldest basement dates back to 150 ky and crops out along the perimeter of the island especially to the south. Latest eruption occurred in 1302 A.D. and together with strong hydrothermal activity, ground uplift and seismic shaking in…