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Long-range dependence in financial markets: a moving average cluster entropy approach
No full textA perspective is taken on the intangible complexity of economic and social systems by investigating the dynamical processes producing, storing and transmitting information in financial time series. An extensive analysis based on the moving average cluster entropy approach has evidenced market and horizon dependence in highest-frequency data of real world financial assets. The behavior is scrutinized by applying the moving average cluster entropy approach to long-range correlated stochastic processes as the Autoregressive Fractionally Integrated Moving Average (ARFIMA) and Fractional Brownian motion (FBM). An extensive set of series is generated with a broad range of values of the Hurst exponent H and of the autoregressive, differencing and moving average parameters p,d,q . A systematic relation between moving average cluster entropy and long-range correlation parameters H, d is observed. This study shows that the characteristic behaviour exhibited by the horizon dependence of the cluster entropy is related to long-range positive correlation in financial markets. Specifically, long range positively correlated ARFIMA processes with differencing parameter d≃0.05 , d≃0.15 and d≃0.25 are consistent with moving average cluster entropy results obtained in time series of DJIA, S&P500 and NASDAQ. The findings clearly point to a variability of price returns, consistently with a price dynamics involving multiple temporal scales and, thus, short- and long-run volatility components. An important aspect of the proposed approach is the ability to capture detailed horizon dependence over relatively short horizons (one to twelve months) and thus its relevance to define risk analysis indices
Editorial. Tourism sustainability in natural, residential and mountain locations: what are the current issues and questions?
No full textVideosorveglianza, sicurezza e privacy di fronte alle Corti degli Stati Uniti
No full textLa rassegna che si presenta concerne la recente giurisprudenza statunitense in materia di bilanciamento tra privacy e sicurezza relativamente all'uso di strumenti di videosorveglianza, quali ad esempio droni aerei e programmi di riconoscimento di targhe automobilistiche. Da questa breve analisi parrebbe che, seguendo le orme di Hobbes, a prevalere sia la protezione del bisogno di sicurezza
La rendita catastale dei parchi eolici: le torri della discordia
No full textLa torre eolica, essendo un elemento imbullonato, non può essere qualificata come costruzione ai fini della determinazione della rendita catastale, richiedendosi a tal fine l'incorporazione al suolo del manufatto. Tuttavia, se anche dovesse essere qualificata come costruzione, assumendo (erroneamente) sufficiente a tale fine l'ancoraggio mediante bulloni, la natura di impianto funzionale allo specifico processo produttivo (aerogeneratore) comunque imporrebbe di escludere la torre dalla stima, dovendo prevalere, nel caso di sovrapposizione, la regola dettata con riferimento al profilo specificante della funzionalità allo specifico processo produttivo
Comorbidities and HCV coinfection in the management of HIV+ patients: evidence from the Italian clinical practice
No full textBackground: Since HIV+ treatment has become more effective, the average age of people living with HIV (PLWHIV) has increased, and consequently the incidence of developing comorbidities, making the clinical and economic management of HIV+ patients more complex. Limited literature exists regarding the management of comorbidities costs. This study is aimed at defining and comparing the total annual costs of comorbidities, in an Italian cohort of HIV and HIV/HCV patients, from the National Healthcare Service perspective. The authors hypothesised that there are higher costs, for patients with multiple comorbidities, and a greater consumption of resources for HIV/HCV co-infected patients versus HIV mono-infected patients. Methods: An observational retrospective multi-centre health-economics study, enrolling HIV+ and HIV/HCV consecutive patients with at least one comorbidity, was conducted. The consecutive cases, provided by three Italian infectious diseases centres, were related to the year 2016. The enrolled patients were on a stable antiviral therapy for at least six months. Demographic and clinical information was recorded. Costs related to HIV and HCV therapies, other treatments, medical examinations, hospitalizations and outpatient visits were evaluated. Data from mono-infected and co-infected groups of patients were compared, and the statistical analysis was performed by t-tests, chi-square and ANOVA. A sub-analysis excluding HCV therapy costs, was also conducted. The hierarchical sequential linear regression model was used to explore the determinants of costs, considering the investigated comorbidities. All analyses were conducted with a significant level of 0.05. Results: A total of 676 patients, 82% male, mean age 52, were identified and divided into groups (338 mono-infected HIV+ and 338 co-infected HIV/HCV patients), comparable in terms of age, gender, and demographic characteristics. A trend towards higher annual costs, for patients with multiple comorbidities was observed in HIV mono-infected patients (respectively € 8272.18 for patients without comorbidities and € 12,532.49 for patients with three or more comorbidities, p-value: 0.001). Excluding anti-HCV therapies costs, HIV/HCV co-infected patients generally required more resources, with statistically significant differences related to cardiovascular events (€10,116.58 vs €11,004.28, p-value: 0.001), and neurocognitive impairments events (€7706.43 vs €11,641.29 p- value: <0.001). Conclusions: This study provides a differentiated and comprehensive analysis of the healthcare resources needed by HIV and HIV/HCV patients with comorbidities and may contribute to the decision process of resources allocation, in the clinical management of different HIV+ patient populations
Il ruolo tra paziente e SSN
No full textIn un'epoca in cui tecnologie e innovazione offrono prestazioni crescenti e hanno uno sviluppo più veloce, la medicina risponde a bisogni assistenziali spesso complessi in modo più accurato ed efficace.In an era where technologies and innovation offer increasing performance and have a faster development, medicine respond to often complex care needs in a more accurate and effective way
Verso un'economia integrale: la via italiana alla ripresa
No full textCon la Rivoluzione industriale e l'avvento del modello "classico", l'economia ha perso il ruolo che aveva ricoperto fino ad allora nello sviluppo di un valore economico teso anche alla crescita della società nel suo insieme e ha contribuito a generare squilibri sociali ed ambientali che oggi minano la sostenibilità stessa di quel risultato. L'affermazione incontrastata dì questo modello ha allontanato l'economia da un'etica del lavoro i cui valori fondativi prevedevano l'integrazione tra un giusto profitto e la valorizzazione delle persone, delle comunità e dell'ambiente, princìpi su cui l'Europa per secoli aveva costruito il suo sviluppo e di cui il Rinascimento italiano rimane l'emblema. L'Economia Integrale recupera questa cultura e avvia riflessioni, prassi e strumenti che "integrano" lo sviluppo economico con le esigenze delle imprese, della società e dell'ambiente, ponendo così i presupposti per una crescita più equilibrata e sostenibile. Tutto ciò "integrando" anche il contributo di discipline che possono arricchire l'economia attraverso chiavi di lettura e soluzioni capaci di andare oltre l'economia stessa: dall'antropologia alla sociologia, dalla filosofia all'ecologia, dalle neuroscienze alla teologia. Un modello che punta a creare cultura ma, nel contempo, ad incidere sulla strategia e sulla gestione aziendale attraverso strumenti legislativi e strategici e alcune prassi operative che è possibile riscontrare anche nelle 24 storie di imprese che arricchiscono le riflessioni di questo libro
Role of inhaled methoxyflurane in the management of acute trauma pain
No full textAdequate treatment of trauma pain is an integral part of the management of trauma patients, not just for ethical reasons but also because undertreated pain can lead to increased morbidities and worse long-term outcomes. Trauma pain management presents challenges in the pre-hospital setting, particularly in adverse or hostile environments as well as in busy emergency departments (EDs). Inhaled methoxyflurane, administered at analgesic doses via a disposable inhaler, has recently become available in Europe for the emergency treatment of moderate to severe pain in conscious adult trauma patients. A growing body of evidence demonstrates that inhaled methoxyflurane is well tolerated and effective in providing a rapid onset of analgesia. In this paper, we discuss the rationale for methoxyflurane use in trauma pain management, data from clinical trials recently conducted in Europe, its efficacy and safety profile compared to current standard treatments, its place in therapy and organizational impact. We conclude that inhaled methoxyflurane represents an effective treatment option in the different settings where trauma patients require rapid and flexible pain resolution, with potential organizational advantages
JRC technical report
No full textThe idea that Artificial Intelligence will be one of the foremost sources of innovation in years to come is one that goes well beyond the field of academia. One relevant issue in this connection is understanding the likely impact of these technologies on productivity. Indeed, the impacts of earlier introductions of disruptive technology in history – such as the industrial revolution and the mechanisation of agriculture – suggest that the automation of existing tasks can produce extraordinary increases in productivity (Acemoglu & Restrepo, 2019). To assess the growth potential of this new wave of innovation, in this study we examine the impact of AI technologies on total factor productivity. This involves analysing improvements in productivity by firms who have patented AI technologies. In particular, we exploit a novel dataset of AI patents at firm level, to analyse whether the extent with which firms develop AI technologies positively affects productivity and wages. Also, we draw attention to two sectors that are more extensively adopting AI – e-commerce and fintech firms