Clustering networked funded European research activities through rank-size laws

This paper treats a well-established public evaluation problem, which is the analysis of the funded research projects. We specifically deal with the collection of the research actions funded by the European Union over the 7th Framework Programme for Research and Technological Development and Horizon 2020. The reference period is 2007-2020. The study is developed through three methodological steps. First, we consider the networked scientific institutions by stating a link between two organizations when they are partners in the same funded project. In doing so, we build yearly complex networks. We compute four nodal centrality measures with relevant, informative content for each of them. Second, we implement a rank-size procedure on each network and each centrality measure by testing four meaningful classes of parametric curves to fit the ranked data. At the end of such a step, we derive the best fit curve and the calibrated parameters. Third, we perform a clustering procedure based on the best-fit curves of the ranked data for identifying regularities and deviations among years of research and scientific institutions. The joint employment of the three methodological approaches allows a clear view of the research activity in Europe in recent years.

Multiway clustering with time-varying parameters

This paper proposes a clustering approach for multivariate time series with time-varying parameters in a multiway framework. Although clustering techniques based on time series distribution characteristics have been extensively studied, methods based on time-varying parameters have only recently been explored and are missing for multivariate time series. This paper fills the gap by proposing a multiway approach for distribution-based clustering of multivariate time series. To show the validity of the proposed clustering procedure, we provide both a simulation study and an application to real air quality time series data.

A new family of modified Gaussian copulas for market consistent valuation of government guarantees

This paper deals with a copula-based stochastic dependence problem in the context of financial risks. We discuss the financial framework for assessing the theoretical up-front value of government guarantees on bank liabilities. EU States widely use these contracts to improve the financial system’s stability and manage the banking sector in crisis situations; in Italy, they have also been used to address the consequences of the Covid-19 emergency. From a market viewpoint, we deal with a defaultable guarantee contract where the State-guarantor and the bank-borrower are both subject to default risk, and their risks are interconnected. We show that the classical Gaussian copula is not satisfactory for modeling the dependence among the considered risks. Indeed, using the benchmark market model for credit risk portfolio management, we highlight some contradictory results observed for the up-front values of the guarantee when the default intensity of the guarantor is smaller than that of the borrower. Then, we introduce a new family of modified Gaussian copulas that overcomes the limitations of the standard approach, allowing to determine realistic results in terms of the guarantees “mark-to-model” value when the benchmark market model does not work. Numerical simulations validate the theoretical proposal.

The complex interplay between COVID-19 and economic activity

We introduce a dynamical system to model the complex interaction between COVID-19 and economic activity. The model introduces some novelties not accounted by SIR-like models. The equilibrium of the system is an unstable focus, with fluctuations having increasing size and periodicity. Numerical simulations of the model produce waves which reproduce the pandemic dynamics. In observing the stylized facts linking economics and pandemic and stating related reasonable assumptions, we obtain a Lotka-Volterra co-dynamics. This outcome is confirmed by extensive simulations. The outcomes obtained qualitatively replicate some important stylized facts deepening the knowledge about the role of some parameters in their origin and eventually in their shaping.

Combining rank-size and k-means for clustering countries over the COVID-19 new deaths per million

This paper deals with the cluster analysis of selected countries based on COVID-19 new deaths per million data. We implement a statistical procedure that combines a rank-size exploration and a k-means approach for clustering. Specifically, we first carry out a best-fit exercise on a suitable polynomial rank-size law at an individual country level; then, we cluster the considered countries by adopting a k-means clustering procedure based on the calibrated best-fit parameters. The investigated countries are selected considering those with a high value for the Healthcare Access and Quality Index to make a consistent analysis and reduce biases from the data collection phase. Interesting results emerge from the meaningful interpretation of the parameters of the best-fit curves; in particular, we show some relevant properties of the considered countries when dealing with the days with the highest number of new daily deaths per million and waves. Moreover, the exploration of the obtained clusters allows explaining some common countries' features.

Financial interbanking networks resilience under shocks propagation

The concept of resilience-i.e., the ability of a unified structure to absorb shocks-is of high relevance in the context of network modelling and analysis, mainly when referred to finance. This paper starts from this premise, and deals with the resilience of a financial interbanking system. At this aim, we firstly introduce a new measure of the resilience of a network, by taking into full consideration the influence of the topology of the network and the weights of its links in the shocks propagation; then, we build one financial network model related to the quarterly-based interbanking sector, whose weights are calibrated on high quality empirical data; lastly, we compute the resilience measure of the considered networks. A discussion of the results is provided, by considering both finance and network theory perspectives.

The sooner the better: lives saved by the lockdown during the COVID-19 outbreak. The case of Italy

This paper estimates the effects of non-pharmaceutical interventions – mainly, the lockdown – on the COVID-19 mortality rate for the case of Italy, the first Western country to impose a national shelter-in-place order. We use a new estimator, the augmented synthetic control method (ASCM), that overcomes some limits of the standard synthetic control method (SCM). The results are twofold. From a methodological point of view, the ASCM outperforms the SCM in that the latter cannot select a valid donor set, assigning all the weights to only one country (Spain) while placing zero weights to all the remaining. From an empirical point of view, we find strong evidence of the effectiveness of non-pharmaceutical interventions in avoiding losses of human lives in Italy: conservative estimates indicate that the policy saved in total more than 21,000 human lives.

Outdoor light pollution and COVID-19: The Italian case

There is a wide debate on the connections between pollution and COVID-19 propagation. This note faces this problem by exploring the peculiar case of the correlation between outdoor light pollution and the ratio between infected people and population. We discuss the empirical case of Italian provinces (NUTS-3 level), which represent an interesting context for the noticeable entity of contagions and for the relevant level of outdoor light pollution. The empirical results, based on a multivariate cross section model controlling for income, density, population ageing and environmental pollution, show that there is a positive relation between outdoor light pollution per capita and the strength of COVID-19 infection. This effect is statistically more robust in a non linear specification than in a linear one. We interpret our findings as a piece of evidence related to the impact of outdoor light pollution on human health, thus suggesting policies aimed at reducing this important source of pollution.

Municipal waste management: A complex network approach with an application to Italy

The paper contributes to the debate concerning the management of municipal solid waste by providing an analysis of two key aspects of waste management - namely, waste separation and dispatch to treatment plants. Our analysis aims at detecting the extent to which actual behavior in (close-by) municipalities is similar with respect to those two aspects. To pursue our scope, a complex network approach is followed. In particular, we conceptualize, explore and compare two networks, whose nodes are the municipalities, while weights synthesize in one network the percentage of sorted waste that is collected at a municipal level, and in the other one the distance from the waste processing plants used by each municipality. The theoretical network models are implemented through an empirical study based on a high quality dataset referred to Italian municipalities. In this regard, the detection of communities of municipalities and their geospatial contextualization are introduced as devices for a complete description of current practices of municipal waste separation and transfers in Italy.

Predicting future cancer burden in the United States by artificial neural networks

Aims: To capture the complex relationships between risk factors and cancer incidences in the US and predict future cancer burden. Materials & methods: Two artificial neural network (ANN) algorithms were adopted: a multilayer feed-forward network (MLFFNN) and a nonlinear autoregressive network with eXogenous inputs (NARX). Data on the incidence of the four most common tumors (breast, colorectal, lung and prostate) from 1992 to 2016 (available from National Cancer Institute online datasets) were used for training and validation, and data until 2050 were predicted. Results: The rapid decreasing trend of prostate cancer incidence started in 2010 will continue until 2018-2019; it will then slow down and reach a plateau after 2050, with several differences among ethnicities. The incidence of breast cancer will reach a plateau in 2030, whereas colorectal cancer incidence will reach a minimum value of 35 per 100,000 in 2030. As for lung cancer, the incidence will decrease from 50 per 100,000 (2017) to 31 per 100,000 in 2030 and 26 per 100,000 in 2050. Conclusion: This up-to-date prediction of cancer burden in the US could be a crucial resource for planning and evaluation of cancer-control programs.

Tsallis Entropy for Cross-Shareholding Network Configurations

In this work, we develop the Tsallis entropy approach for examining the cross-shareholding network of companies traded on the Italian stock market. In such a network, the nodes represent the companies, and the links represent the ownership. Within this context, we introduce the out-degree of the nodes-which represents the diversification-and the in-degree of them-capturing the integration. Diversification and integration allow a clear description of the industrial structure that were formed by the considered companies. The stochastic dependence of diversification and integration is modeled through copulas. We argue that copulas are well suited for modelling the joint distribution. The analysis of the stochastic dependence between integration and diversification by means of the Tsallis entropy gives a crucial information on the reaction of the market structure to the external shocks-on the basis of some relevant cases of dependence between the considered variables. In this respect, the considered entropy framework provides insights on the relationship between in-degree and out-degree dependence structure and market polarisation or fairness. Moreover, the interpretation of the results in the light of the Tsallis entropy parameter gives relevant suggestions for policymakers who aim at shaping the industrial context for having high polarisation or fair joint distribution of diversification and integration. Furthermore, a discussion of possible parametrisations of the in-degree and out-degree marginal distribution-by means of power laws or exponential functions- is also carried out. An empirical experiment on a large dataset of Italian companies validates the theoretical framework.

Genitourinary Tumors: Update on Molecular Biomarkers for Diagnosis, Prognosis and Prediction of Response to Therapy

BACKGROUND

Research of biomarkers in genitourinary tumors goes along with the development of complex emerging techniques ranging from next generation sequencing platforms, applied to archival pathology specimens, cytological samples, liquid biopsies, and to patient-derived tumor models.

METHODS

This contribution is an update on molecular biomarkers for diagnosis, prognosis and prediction of response to therapy in genitourinary tumors. The following major topics are dealt with: Immunological biomarkers, including the microbiome, and their potential role and caveats in renal cell carcinoma, bladder and prostate cancers and testicular germ cell tumors; Tissue biomarkers for imaging and therapy, with emphasis on Prostate-specific membrane antigen in prostate cancer; Liquid biomarkers in prostate cancer, including circulating tumor cell isolation and characterization in renal cell carcinoma, bladder cancer with emphasis on biomarkers detectable in the urine and testicular germ cell tumors; and Biomarkers and economic sustainability.

CONCLUSION

The identification of effective biomarkers has become a major focus in cancer research, mainly due to the necessity of selecting potentially responsive patients in order to improve their outcomes, as well as to reduce the toxicity and costs related to ineffective treatments.

Data on the annual aggregated income taxes of the Italian municipalities over the quinquennium 2007-2011

This dataset contains the annual aggregated income taxes of all the Italian municipalities over the years 2007–2011. Data are clustered over the Italian regions and provinces. The source of the data is the Italian Ministry of Economics and Finance. The administrative variations in Italy over the quinquennium have been taken into account. Data are useful to understand the economic structure of Italy at the microscopic level of municipalities. They can serve also for making comparisons between economical aspects and other features of the Italian cities.

Investigating the Configurations in Cross-Shareholding: A Joint Copula-Entropy Approach

The complex nature of the interlacement of economic actors is quite evident at the level of the Stock market, where any company may actually interact with the other companies buying and selling their shares. In this respect, the companies populating a Stock market, along with their connections, can be effectively modeled through a directed network, where the nodes represent the companies, and the links indicate the ownership. This paper deals with this theme and discusses the concentration of a market. A cross-shareholding matrix is considered, along with two key factors: the node out-degree distribution which represents the diversification of investments in terms of the number of involved companies, and the node in-degree distribution which reports the integration of a company due to the sales of its own shares to other companies. While diversification is widely explored in the literature, integration is most present in literature on contagions. This paper captures such quantities of interest in the two frameworks and studies the stochastic dependence of diversification and integration through a copula approach. We adopt entropies as measures for assessing the concentration in the market. The main question is to assess the dependence structure leading to a better description of the data or to market polarization (minimal entropy) or market fairness (maximal entropy). In so doing, we derive information on the way in which the in- and out-degrees should be connected in order to shape the market. The question is of interest to regulators bodies, as witnessed by specific alert threshold published on the US mergers guidelines for limiting the possibility of acquisitions and the prevalence of a single company on the market. Indeed, all countries and the EU have also rules or guidelines in order to limit concentrations, in a country or across borders, respectively. The calibration of copulas and model parameters on the basis of real data serves as an illustrative application of the theoretical proposal.