The Euro changeover and price adjustments in Italy

By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the Italian economy

A ranking of the value of patents granted by legal protection

This paper aims at ranking the value of legal patent protection among countries, using the real options approach. In particular, we manage to overcome the problem of the lack of data for those countries that do not collect patent renewal data. The econometric technique we propose is well grounded in economic theory, specifically in the real options literature. Following this estimation strategy, we rank the value of legal patent protection for seventeen countries, closely reproducing other rankings based on surveys, for instance the PatVal survey by the EU Commission (2006), but relying on macro data publicly available and easy to access.Legal protection, intellectual property, real option, value of patent.

Robustness-Driven Resilience Evaluation of Self-Adaptive Software Systems

An increasingly important requirement for certain classes of software-intensive systems is the ability to self-adapt their structure and behavior at run-time when reacting to changes that may occur to the system, its environment, or its goals. A major challenge related to self-adaptive software systems is the ability to provide assurances of their resilience when facing changes. Since in these systems, the components that act as controllers of a target system incorporate highly complex software, there is the need to analyze the impact that controller failures might have on the services delivered by the system. In this paper, we present a novel approach for evaluating the resilience of self-adaptive software systems by applying robustness testing techniques to the controller to uncover failures that can affect system resilience. The approach for evaluating resilience, which is based on probabilistic model checking, quantifies the probability of satisfaction of system properties when the target system is subject to controller failures. The feasibility of the proposed approach is evaluated in the context of an industrial middleware system used to monitor and manage highly populated networks of devices, which was implemented using the Rainbow framework for architecture-based self-adaptation

Magnesium isotopes: a tool to understand self-enrichment in Globular Clusters

A critical issue in the asymptotic giant branch (AGB) self-enrichment scenario for the formation of multiple populations in Globular Clusters (GCs) is the inability to reproduce the magnesium isotopic ratios, despite the model in principle can account for the depletion of magnesium. In this work we analyze how the uncertainties on the various p-capture cross sections affect the results related to the magnesium content of the ejecta of AGB stars. The observed distribution of the magnesium isotopes and of the overall Mg-Al trend in M13 and NGC 6752 are successfully reproduced when the proton-capture rate by 25Mg at the temperatures 100 MK, in particular the 25Mg(p, gamma)26Alm channel, is enhanced by a factor 3 with respect to the most recent experimental determinations. This assumption also allows to reproduce the full extent of the Mg spread and the Mg-Si anticorrelation observed in NGC 2419. The uncertainties in the rate of the 25Mg(p,gamma)26Alm reaction at the temperatures of interest here leave space for our assumption and we suggest that new experimental measurements are needed to settle this problem. We also discuss the competitive model based on the super massive star nucleosynthesis.Comment: accepted for publication on MNRA

Stars caught in the braking stage in young Magellanic Clouds clusters

The color-magnitude diagrams of many Magellanic Cloud clusters (with ages up to 2 billion years) display extended turnoff regions where the stars leave the main sequence, suggesting the presence of multiple stellar populations with ages which may differ even by hundreds million years (Mackey et al. 2008, Milone et al. 2009, Girardi et al. 2011). A strongly debated question is whether such an extended turnoff is instead due to populations with different stellar rotations (Girardi et al. 2011, Goudfrooij et al. 2011, Rubele et al. 2013, Li et al. 2014). The recent discovery of a `split' main sequence in some younger clusters (about 80--400Myr) added another piece to this puzzle. The blue (red) side of the main sequence is consistent with slowly (rapidly) rotating stellar models (D'Antona et al. 2015, Milone et al. 2016, Correnti et al. 2017, Milone et al 2016), but a complete theoretical characterization of the observed color-magnitude diagram appeared to require also an age spread (Correnti et al. 2017). We show here that, in three clusters so far analyzed, if the blue main sequence stars are interpreted with models that have been always slowly rotating, they must be about 30% younger than the rest of the cluster. If they are instead interpreted as stars initially rapidly rotating, but that have later slowed down, the age difference disappears, and "braking" also helps to explain the apparent age differences of the extended turnoff. The age spreads in Magellanic Cloud clusters are a manifestation of rotational stellar evolution. Observational tests are suggested.Comment: Accepted for publication and in state of Advance Online Publication (from 24 July 2017) on Nature Astronom

The Euro Changeover and Price Adjustments in Italy

By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the Italian economy.Euro changeover, staggered price adjustments, inflation

The Euro Changeover and Price Adjustments in Italy

By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the Italian economyEuro changeover, staggered price adjustments, inflation