On Convergence across Transition Economies’ Financial Markets: the Role of Creditor Rights

Although twenty years have elapsed since the beginning of transition, Eastern European and Central Asian countries are still characterized by remarkably heterogeneous levels of economic development. In the light of the established causal relationship between finance and growth, we perform an absolute and conditional convergence analysis with reference to credit markets’ development to understand whether the lack of convergence in economic performances may also be a side - effect of persistently diversified financial architectures in these transition economies. Our investigation highlights: (i) the occurrence of absolute and conditional convergence; (ii) the existence of appreciable intra - distribution dynamics in the convergence process; and that, when conditioning for cross - country measures of the legal protection of creditors’ rights, (iii) the bankruptcy laws and their enforcement strongly boost credit markets’ average period growth rates.convergence, financial market development, investor protection, rule of law.

Deterrence, Incapacitation and Enforcement Design. Evidence from Traffic Enforcement in Italy

We investigate the deterrent effect on driving behavior due to the introduction of Demerit Point System in Italy. In addition, we measure the incapacitation effect on fatal accidents. Our findings highlight the high potential of the penalty system in reducing road fatalities through deterrence and incapacitation. Despite this, its aggregate effectiveness in Italy ultimately depended on the consistency of the enforcement design. We then suggest several policy options to increase road safety through a credible enforcement.deterrence, incapacitation, law enforcement, road safety

Analysis of attractor distances in Random Boolean Networks

We study the properties of the distance between attractors in Random Boolean Networks, a prominent model of genetic regulatory networks. We define three distance measures, upon which attractor distance matrices are constructed and their main statistic parameters are computed. The experimental analysis shows that ordered networks have a very clustered set of attractors, while chaotic networks' attractors are scattered; critical networks show, instead, a pattern with characteristics of both ordered and chaotic networks.Comment: 9 pages, 6 figures. Presented at WIRN 2010 - Italian workshop on neural networks, May 2010. To appear in a volume published by IOS Pres

On the nature of the Herbig B[e] star binary system V921 Scorpii: Discovery of a close companion and relation to the large-scale bipolar nebula

Belonging to the group of B[e] stars, V921 Scorpii is associated with a strong infrared excess and permitted and forbidden line emission, indicating the presence of low- and high-density circumstellar gas and dust. Many aspects of V921 Sco and other B[e] stars still remain mysterious, including their evolutionary state and the physical conditions resulting in the class-defining characteristics. In this paper, we employ VLTI/AMBER spectro-interferometry in order to reconstruct high-resolution (lambda/2B=0.0013") model-independent interferometric images for three wavelength bands around 1.65, 2.0, and 2.3 micrometer. In our images, we discover a close (25.0+/-0.8 milliarcsecond, corresponding to 29+/-0.9 AU at 1.15 kpc) companion around V921 Sco. Between two epochs in 2008 and 2009, we measure orbital motion of 7 degrees, implying an orbital period of about 35 years (for a circular orbit). Around the primary star, we detect a disk-like structure with indications for a radial temperature gradient. The polar axis of this AU-scale disk is aligned with the arcminute-scale bipolar nebula in which V921 Sco is embedded. Using Magellan/IMACS imaging, we detect multi-layered arc-shaped sub-structure in the nebula, suggesting episodic outflow activity from the system with a period of about 25 years, roughly matching the estimated orbital period of the companion. Our study supports the hypothesis that the B[e] phenomenon is related to dynamical interaction in a close binary system.Comment: 7 pages, 2 figures, accepted by The Astrophysical Journal Letter

The L1157-B1 astrochemical laboratory: testing the origin of DCN

L1157-B1 is the brightest shocked region of the large-scale molecular outflow, considered the prototype of chemically rich outflows, being the ideal laboratory to study how shocks affect the molecular gas. Several deuterated molecules have been previously detected with the IRAM 30m, most of them formed on grain mantles and then released into the gas phase due to the shock. We aim to observationally investigate the role of the different chemical processes at work that lead to formation the of DCN and test the predictions of the chemical models for its formation. We performed high-angular resolution observations with NOEMA of the DCN(2-1) and H13CN(2-1) lines to compute the deuterated fraction, Dfrac(HCN). We detected emission of DCN(2-1) and H13CN(2-1) arising from L1157-B1 shock. Dfrac(HCN) is ~4x10$^{-3}$ and given the uncertainties, we did not find significant variations across the bow-shock. Contrary to HDCO, whose emission delineates the region of impact between the jet and the ambient material, DCN is more widespread and not limited to the impact region. This is consistent with the idea that gas-phase chemistry is playing a major role in the deuteration of HCN in the head of the bow-shock, where HDCO is undetected as it is a product of grain-surface chemistry. The spectra of DCN and H13CN match the spectral signature of the outflow cavity walls, suggesting that their emission result from shocked gas. The analysis of the time dependent gas-grain chemical model UCL-CHEM coupled with a C-type shock model shows that the observed Dfrac(HCN) is reached during the post-shock phase, matching the dynamical timescale of the shock. Our results indicate that the presence of DCN in L1157-B1 is a combination of gas-phase chemistry that produces the widespread DCN emission, dominating in the head of the bow-shock, and sputtering from grain mantles toward the jet impact region.Comment: Accepted for publication in A&A. 7 pages, 5 Figures, 1 Tabl

ISO-LWS grating spectroscopy: the case of R CrA star forming region

We present the far infrared spectra of the R CrA star forming region obtained with ISO-LWS. We collected a pointed observation on the Herbig Ae star R CrA and a raster scan covering the surrounding region, where HH100 (with its exciting source) and the pre-Main Sequence star T CrA are located. The OI 63μm and the CII 158μm lines have been detected in all the pointed positions, with a ratio consistent with PDR excitation. CO rotational lines (between Jup=14 and Jup=19) are detected on R CrA; from their intensities we derived, using a LVG model, the density and temperature of the emitting region. Other molecular transitions (OH and H2O) have been detected on the investigated objects; the derived cooling of all the molecular species is in agreement with C-shock as the likely excitation mechanism. The continuum emission of R CrA peaks around 100μm (as expected for a Herbig star) while the other sources (T CrA, HH100) show increasing continua up to ~200μm, indicating that they are probably less evolved sources

Broad N2H+ emission towards the protostellar shock L1157-B1

We present the first detection of N2H+ towards a low-mass protostellar outflow, namely the L1157-B1 shock, at about 0.1 pc from the protostellar cocoon. The detection was obtained with the IRAM 30-m antenna. We observed emission at 93 GHz due to the J = 1-0 hyperfine lines. The analysis of the emission coupled with the HIFI CHESS multiline CO observations leads to the conclusion that the observed N2H+(1-0) line originates from the dense (> 10^5 cm-3) gas associated with the large (20-25 arcsec) cavities opened by the protostellar wind. We find a N2H+ column density of few 10^12 cm-2 corresponding to an abundance of (2-8) 10^-9. The N2H+ abundance can be matched by a model of quiescent gas evolved for more than 10^4 yr, i.e. for more than the shock kinematical age (about 2000 yr). Modelling of C-shocks confirms that the abundance of N2H+ is not increased by the passage of the shock. In summary, N2H+ is a fossil record of the pre-shock gas, formed when the density of the gas was around 10^4 cm-3, and then further compressed and accelerated by the shock.Comment: ApJ, in pres

The B1 shock in the L1157 outflow as seen at high spatial resolution

We present high spatial resolution (750 AU at 250 pc) maps of the B1 shock in the blue lobe of the L1157 outflow in four lines: CS (3-2), CH3OH (3_K-2_K), HC3N (16-15) and p-H2CO (2_02-3_01). The combined analysis of the morphology and spectral profiles has shown that the highest velocity gas is confined in a few compact (~ 5 arcsec) bullets while the lowest velocity gas traces the wall of the gas cavity excavated by the shock expansion. A large velocity gradient model applied to the CS (3-2) and (2-1) lines provides an upper limit of 10^6 cm^-3 to the averaged gas density in B1 and a range of 5x10^3< n(H2)< 5x10^5 cm^-3 for the density of the high velocity bullets. The origin of the bullets is still uncertain: they could be the result of local instabilities produced by the interaction of the jet with the ambient medium or could be clump already present in the ambient medium that are excited and accelerated by the expanding outflow. The column densities of the observed species can be reproduced qualitatively by the presence in B1 of a C-type shock and only models where the gas reaches temperatures of at least 4000 K can reproduce the observed HC3N column density.Comment: 13 pages, 12 figure

Machine learning based data mining for Milky Way filamentary structures reconstruction

We present an innovative method called FilExSeC (Filaments Extraction, Selection and Classification), a data mining tool developed to investigate the possibility to refine and optimize the shape reconstruction of filamentary structures detected with a consolidated method based on the flux derivative analysis, through the column-density maps computed from Herschel infrared Galactic Plane Survey (Hi-GAL) observations of the Galactic plane. The present methodology is based on a feature extraction module followed by a machine learning model (Random Forest) dedicated to select features and to classify the pixels of the input images. From tests on both simulations and real observations the method appears reliable and robust with respect to the variability of shape and distribution of filaments. In the cases of highly defined filament structures, the presented method is able to bridge the gaps among the detected fragments, thus improving their shape reconstruction. From a preliminary "a posteriori" analysis of derived filament physical parameters, the method appears potentially able to add a sufficient contribution to complete and refine the filament reconstruction.Comment: Proceeding of WIRN 2015 Conference, May 20-22, Vietri sul Mare, Salerno, Italy. Published in Smart Innovation, Systems and Technology, Springer, ISSN 2190-3018, 9 pages, 4 figure