Colloidal systems for the delivery of cyclosporin A to the anterior segment of the eye.

Due to the eye's specific anatomical and physiological conformation, the treatment of eye diseases is a real challenge for pharmaceutical therapy. The presence of efficient protective barriers (i.e., the conjunctival and corneal membranes) and protective mechanisms (i.e., blinking and nasolachrymal drainage) makes this organ particularly impervious to local drug therapy. To overcome these issues, numerous strategies have been envisioned using pharmaceutical technology. Many formulations currently on the market or still under development are emulsions or colloidal systems intended to enhance precorneal residence time and corneal penetration, causing a consequent increase in drug bioavailability after instillation. After a review of some recent developments in the field of cyclosporin A formulations for the eye, a novel micellar formulation of cyclosporine A based on a diblock methoxy-poly(ethylene glycol)-hexysubstituted poly(lactides) (MPEG-hexPLA) is described.

Technological innovation in creative clusters. The case of laser in conservation of artworks in Florence

The field of laser application to the restoration and cleaning of cultural assets is amongst the most thriving developments of recent times. Ablative laser technological systems are able to clean and protect inestimable works of art subject to atmospheric agents and degradation over time. This new technology, which has been developing for the last forty year, is now available to restorers and has received a significant success all over Europe. An important contribution in the process of laser innovation has been carried out in Florence by local actors belonging to a creative cluster. The objects of the analysis are the genesis of this innovation in this local Florentine context, and the relationships among the main actors who have contributed in it. The study investigates how culture can play a part in the generation of ideas and innovations, and which are the creative environments that can favour it. In this context, the issue of laser technologies for the restoration of cultural heritage has been analysed as a case study in the various paths taken by the Creative Capacity of the Culture (CCC).

Calling vs receiving party pays: market penetration and the importance of the call externality

In this paper we study how the access price affects the choice of the tariff regime taken by the network operators. We show that for high values of the access price, that is taken as a parameter by the firms, networks decide to charge only the callers. Otherwise, for low values of the access charge, networks charge also the receivers. Moreover, we compare market penetration and total welfare between the two price regimes. Our model suggests that, for high values of call externality, market penetration and total welfare are larger in Receiving Party Pays regime when the access charge is close to zero.

Novel micelle carriers for cyclosporin A topical ocular delivery: in vivo cornea penetration, ocular distribution and efficacy studies.

Cornea transplantation is one of the most performed graft procedures worldwide with an impressive success rate of 90%. However, for "high-risk" patients with particular ocular diseases in addition to the required surgery, the success rate is drastically reduced to 50%. In these cases, cyclosporin A (CsA) is frequently used to prevent the cornea rejection by a systemic treatment with possible systemic side effects for the patients. To overcome these problems, it is a challenge to prepare well-tolerated topical CsA formulations. Normally high amounts of oils or surfactants are needed for the solubilization of the very hydrophobic CsA. Furthermore, it is in general difficult to obtain ocular therapeutic drug levels with topical instillations due to the corneal barriers that efficiently protect the intraocular structures from foreign substances thus also from drugs. The aim of this study was to investigate in vivo the effects of a novel CsA topical aqueous formulation. This formulation was based on nanosized polymeric micelles as drug carriers. An established rat model for the prevention of cornea graft rejection after a keratoplasty procedure was used. After instillation of the novel formulation with fluorescent labeled micelles, confocal analysis of flat-mounted corneas clearly showed that the nanosized carriers were able to penetrate into all corneal layers. The efficacy of a 0.5% CsA micelle formulation was tested and compared to a physiological saline solution and to a systemic administration of CsA. In our studies, the topical CsA treatment was carried out for 14 days, and the three parameters (a) cornea transparency, (b) edema, and (c) neovascularization were evaluated by clinical observation and scoring. Compared to the control group, the treated group showed a significant higher cornea transparency and significant lower edema after 7 and 13 days of the surgery. At the end point of the study, the neovascularization was reduced by 50% in the CsA-micelle treated animals. The success rate of cornea graft transplantation was 73% in treated animals against 25% for the control group. This result was as good as observed for a systemic CsA treatment in the same animal model. This new formulation has the same efficacy like a systemic treatment but without the serious CsA systemic side effects. Ocular drug levels of transplanted and healthy rat eyes were dosed by UPLC/MS and showed a high CsA value in the cornea (11710 ± 7530 ng(CsA)/g(tissue) and 6470 ± 1730 ng(CsA)/g(tissue), respectively). In conclusion, the applied formulation has the capacity to overcome the ocular surface barriers, the micelles formed a drug reservoir in the cornea from, where a sustained release of CsA can take place. This novel formulation for topical application of CsA is clearly an effective and well-tolerated alternative to the systemic treatment for the prevention of corneal graft rejection.

Prophylactic isolated limb perfusion for localized, high-risk limb melanoma: results of a multicenter randomized phase III trial. European Organization for Research and Treatment of Cancer Malignant Melanoma Cooperative Group Protocol 18832, the World Health Organization Melanoma Program Trial 15, and the North American Perfusion Group Southwest Oncology Group-8593.

PURPOSE: Patients with primary cutaneous melanoma > or = 1.5 mm in thickness are at high risk of having regional micrometastases at the time of initial surgical treatment. A phase III international study was designed to evaluate whether prophylactic isolated limb perfusion (ILP) could prevent regional recurrence and influence survival. PATIENTS AND METHODS: A total of 832 assessable patients from 16 centers entered the study; 412 were randomized to wide excision (WE) only and 420 to WE plus ILP with melphalan and mild hyperthermia. Median age was 50 years, 68% of patients were female, 79% of melanomas were located on a lower limb, and 47% had a thickness > or = 3 mm. RESULTS: Median follow-up duration is 6.4 years. There was a trend for a longer disease-free interval (DFI) after ILP. The difference was significant for patients who did not undergo elective lymph node dissection (ELND). The impact of ILP was clearly on the occurrence-as first site of progression - of in-transit metastases (ITM), which were reduced from 6.6% to 3.3%, and of regional lymph node (RLN) metastases, with a reduction from 16.7% to 12.6%. There was no benefit from ILP in terms of time to distant metastasis or survival. Side effects were higher after ILP, but transient in most patients. There were two amputations for limb toxicity after ILP. CONCLUSION: Prophylactic ILP with melphalan cannot be recommended as an adjunct to standard surgery in high-risk primary limb melanoma.

Leveraging explicitly disclosed location information to understand tourist dynamics: a case study

In recent years, the large deployment of mobile devices has led to a massiveincrease in the volume of records of where people have been and when they were there.The analysis of these spatio-temporal data can supply high-level human behaviorinformation valuable to urban planners, local authorities, and designer of location-basedservices. In this paper, we describe our approach to collect and analyze the history ofphysical presence of tourists from the digital footprints they publicly disclose on the web.Our work takes place in the Province of Florence in Italy, where the insights on thevisitors’ flows and on the nationalities of the tourists who do not sleep in town has beenlimited to information from survey-based hotel and museums frequentation. In fact, mostlocal authorities in the world must face this dearth of data on tourist dynamics. In thiscase study, we used a corpus of geographically referenced photos taken in the provinceby 4280 photographers over a period of 2 years. Based on the disclosure of the locationof the photos, we design geovisualizations to reveal the tourist concentration and spatiotemporalflows. Our initial results provide insights on the density of tourists, the points ofinterests they visit as well as the most common trajectories they follow.

In vivo characterisation of a novel water-soluble Cyclosporine A prodrug for the treatment of dry eye disease.

Cyclosporine A (CsA) has been demonstrated to be effective for the treatment of a variety of ophthalmological conditions, including ocular surface disorders such as the dry eye disease (DED). Since CsA is characterised by its low water solubility, the development of a topical ophthalmic formulation represents an interesting pharmaceutical question. In the present study, two different strategies to address this challenge were studied and compared: (i) a water-soluble CsA prodrug formulated within an aqueous solution and (ii) a CsA oil-in-water emulsion (Restasis, Allergan Inc., Irvine, CA). First, the prodrug formulation was shown to have an excellent ocular tolerance as well as no influence on the basal tear production; maintaining the ocular surface properties remained unchanged. Then, in order to allow in vivo investigations, a specific analytical method based on ultra high pressure liquid chromatography coupled with triple quadrupole mass spectrometer (UHPLC-MS/MS) was developed and optimised to quantify CsA in ocular tissues and fluids. The CsA ocular kinetics in lachrymal fluid for both formulations were found to be similar between 15 min and 48 h. The CsA ocular distribution study evidenced the ability of the prodrug formulation to penetrate into the eye, achieving therapeutically active CsA levels in tissues of both the anterior and posterior segments. In addition, the detailed analysis of the in vivo data using a bicompartmental model pointed out a higher bioavailability and lower elimination rate for CsA when it is generated from the prodrug than after direct application as an emulsion. The interesting in vivo properties displayed by the prodrug solution make it a safe and suitable option for the treatment of DED.

The dynamics of US inflation: Can monetary policy explain the changes?

We investigate the relationship between monetary policy and inflation dynamics in theUS using a medium scale structural model. The specification is estimated with Bayesiantechniques and fits the data reasonably well. Policy shocks account for a part of the declinein inflation volatility; they have been less effective in triggering inflation responses overtime and qualitatively account for the rise and fall in the level of inflation. A number ofstructural parameter variations contribute to these patterns.

Credit lines: The other side of corporate liquidity

In this paper we offer the first large sample evidence on the availability and usage ofcredit lines in U.S. public corporations and use it to re-examine the existing findings oncorporate liquidity. We show that the availability of credit lines is widespread and thataverage undrawn credit is of the same order of magnitude as cash holdings. We test thetrade-off theory of liquidity according to which firms target an optimum level of liquidity,computed as the sum of cash and undrawn credit lines. We provide support for the existenceof a liquidity target, but also show that the reasons why firms hold cash and credit linesare very different. While the precautionary motive explains well cash holdings, the optimumlevel of credit lines appears to be driven by the restrictions imposed by the credit line itself,in terms of stated purpose and covenants. In support to these findings, credit line drawdownsare associated with capital expenditures, acquisitions, and working capital.

Forme e funzioni del coro tragico in Italia (1524-1824)

Ce travail n'a pas pour but d'établir une histoire du choeur tragique pour ainsi dire 'd'anthologie', mais bien plutôt de tracer un parcours sélectif et dynamique, en suivant l'évolution de ses formes et de ses fonctions dans la tragédie italienne, à partir du début du XVIe siècle jusqu' à la production alfiérienne et au retour du choeur dans le théâtre de Manzoni ; à cela s'ajoute un exercice en dehors du genre dramatique tel que le Dialogo di Federico Ruysch e delle sue mummie dans les Operette morali di Giacomo Leopardi. Dans la première partie - la plus ample et complexe, portant sur l'emploi du choeur dans la tragédie de la Renaissance - on essaye de cerner le contexte qui favorise la persistance d'un espace choral en examinant plusieurs commentaires de la Poétique aristotélicienne, et des essais de théorie dramaturgique comme Della poesia rappresentativa de Angelo Ingegneri, ou le Discorso intorno al comporre de Giambattista Giraldi Cinzio. À côté de la discussion sur le rôle du choeur on envisage aussi le profil formel des sections chorales, en s'appuyant sur l'analyse métrique, dans le cadre plus général du 'petrarchismo metrico', et en particulier de la réception de la chanson pétrarquesque. Interroger la présence de trois constantes thématiques - par exemple la forme de l'hymne à Éros - signifie en suite relever l'importance de Sophocle pour le théâtre de la Renaissance dans la perspective du choeur. Cette première section est complétée par un chapitre entièrement consacré à Torquato Tasso et à son Re Torrismondo, qui présente un troisième chant choral de grande épaisseur philosophique, central dans l'économie du drame et analysé ici à travers un exercice de lecture qui utilise à la fois les instruments de la stylistique, de l'intertextualité, et de l'intratextualité concernant l'entier corpus poétique et philosophique tassien, de ses Rime aux Dialoghi. La deuxième section, qui commence par une exploration théorique de la question du choeur, conduite par exemple sur les textes de Paolo Beni e Tommaso Campanella, a pour cible principale de expliquer comment le choeur assume le rôle d'un vrai 'personnage collectif' dans le théâtre de Federico Della Valle : un choeur bien installé dans l'action tragique, mais conservant au même temps les qualités lyriques et philosophiques d'un chant riche de mémoire culturelle et intertextuelle, de la Phaedra de Sénèque à la Commedia dantesque dans la Reina di Scozia, centre principal de l'analyse et coeur du catholicisme contreréformiste dellavallien. Dans la troisième partie le discours se concentre sur les formes de la métamorphose, pour ainsi dire, du choeur : par exemple la figure du confident, conçu comme un substitut du groupe choral dans les discussions des théoriciens et des auteurs français - voir Corneille, D'Aubignac, Dacier - et italiens, de Riccoboni à Calepio et Maffei. Cependant dans cette section il est surtout question de la définition de l'aria mélodramatique compris comme le 'nouveau choeur' des Modernes, formulée par Ranieri Calzabigi et par Metastasio. Il s'agit donc ici de mettre en relation l'élaboration théorique contenue dans la Dissertazione de Calzabigi et dans l'Estratto de l'Arte poetica de Metastasio avec le premier et unique essai tragique de jeunesse de ce dernier, le Giustino, et le livret de son Artaserse. On essaye de montrer le profond lien entre l'aria et l'action dramatique : donc c'est le dramma musicale qui est capable d'accueillir la seule forme de choeur - l'aria - encore possible dans le théâtre moderne, tandis que le choeur proprement tragique est désormais considéré inutilisable et pour ainsi dire hors-contexte (sans toutefois oublier qu'à la fin du siècle Vittorio Alfieri essayait de ne pas renoncer au choeur dans sa traduction des Perses d'Eschyle ; et surtout dans un essai tragique comme l'Alceste seconda ou dans sa tramelogedia, l'Abele). Comme conclusion une section contenant des remarques qui voudrait juste indiquer trois possibles directions de recherche ultérieure : une comparaison entre Manzoni et Leopardi - dans la perspective de leur intérêt pour le choeur et de la différence entre le sujet lyrique manzonien et celui léopardien ; une incursion dans le livret du mélodrame verdien, afin de comprendre la fonction du choeur manzonien et sa persistance dans le texte pour l'opéra ; et enfin quelque note sur la réception du choeur manzonien et du Coro di morti léopardien dans le XXe siècle, en assumant comme point d'observation la poésie de Carlo Michelstaedter, Andrea Zanzotto et Franco Fortini. Il lavoro non intende tracciare una storia 'da manuale' del coro tragico, ma piuttosto indicare un percorso selettivo e dinamico, seguendo l'evoluzione delle sue forme e delle sue funzioni nella tragedia italiana, a partire dall'inizio del sedicesimo secolo per arrivare alla produzione alfieriana e al ritorno del coro nel teatro di Manzoni; a ciò si aggiunge una prova estranea al genere drammatico come il Dialogo di Federico Ruysch e delle sue mummie nelle Operette morali di Giacomo Leopardi. Nella prima parte - la più ampia e complessa, riguardante l'impiego del coro nella tragedia rinascimentale - si cerca di ricostruire il contesto che favorisce la persistenza dello spazio corale attraverso l'esame di diversi commenti alla Poetica aristotelica, e di alcuni saggi di teoria drammaturgica come Della poesia rappresentativa di Angelo Ingegneri, o il Discorso intorno al comporre di Giambattista Giraldi Cinzio. La discussione sul ruolo del coro è affiancata dall'esame del profilo formale delle sezioni corali, grazie a un'indagine metrica nel quadro del più ampio petrarchismo metrico cinquecentesco, e in particolare nel quadro della ricezione della formacanzone petrarchesca. Interrogare la presenza di tre costanti tematiche - per esempio la forma dell'inno a Eros - significherà in seguito rilevare l'importanza di Sofocle per il teatro rinascimentale anche nella prospettiva angolata del coro. Questa prima sezione è completata da un capitolo interamente dedicato a Torquato Tasso e al suo Re Torrismondo, che presenta un terzo canto corale di grande spessore stilistico e filosofico, centrale nell'economia del dramma e analizzato qui attraverso un esercizio di lettura che si serve degli strumenti della stilistica e dell'intertestualità, oltre che del rapporto intratestuale fra i vari luoghi del corpus tassiano, dalle Rime ai suoi Dialoghi. La seconda sezione, che si avvia con un'esplorazione teorica della questione del coro nel Seicento - condotta per esempio sui testi di Paolo Beni e Tommaso Campanella - ha per fulcro la descrizione di un coro quale 'personaggio collettivo' nelle tragedie di Federico Della Valle: un coro ben inserito nell'azione tragica, ma che conserva allo stesso tempo le qualità liriche e filosofiche di un canto ricco di memoria culturale e intertestuale, dalla Fedra di Seneca alla Commedia dantesca, nella sua Reina di Scozia, centro dell'analisi e cardine del cattolicesimo controriformista dellavalliano. Nella terza sezione il discorso si concentra sulle forme della metamorfosi, per così dire, del coro: per esempio la figura del confidente, interpretato come un sostituto del gruppo corale nelle discussioni di teorici e autori francesi - Corneille, D'Aubignac, Dacier - e italiani, da Riccoboni a Calepio e Maffei. Ma qui ci si rivolge anzitutto alla definizione dell'aria melodrammatica, sentita quale 'nuovo coro' dei Moderni da Ranieri Calzabigi e Pietro Metastasio. Si tratterà dunque di mettere in relazione l'elaborazione teorica svolta nella Dissertazione di Calzabigi e nell'Estratto dell'arte poetica di Metastasio con il primo e unico - e giovanile - tentativo tragico di quest'ultimo, il Giustino, e con il libretto del suo Artaserse. L'intenzione è quella di mostrare il profondo legame tra l'aria e l'azione drammatica: è perciò il dramma musicale che è capace di accogliere la sola forma di coro - l'aria - ancora possibile nel teatro moderno, mentre il vero e proprio coro tragico si rassegna ormai a essere considerato inutile e per così dire fuori contesto (senza dimenticare, tuttavia, che al chiudersi del secolo Vittorio Alfieri tentava di non rinunciare al coro nella sua traduzione dei Persiani di Eschilo; e soprattutto in un tentativo tragico come la sua Alceste seconda o nella tramelogedia Abele). In conclusione una più veloce sezione che vorrebbe semplicemente indicare qualche altra possibile direzione di ricerca: un confronto fra Manzoni e Leopardi - nella prospettiva del coro interesse per il coro, e della differenza fra il soggetto lirico manzoniano e quello leopardiano; un'incursione nel libretto del melodramma verdiano, per misurarvi la funzione del coro manzoniano e la sua persistenza nel testo operistico; e infine qualche appunto sulla ricezione del coro manzoniano e del Coro di morti di Leopardi nel Novecento, assumendo quale punto d'osservazione la poesia di Carlo Michelstaedter, Andrea Zanzotto e Franco Fortini.

Optimal monetary and fiscal policy in a currency union

We lay out a tractable model for fiscal and monetary policy analysis in a currency union, and study its implications for the optimal design of such policies. Monetary policy is conducted by a common central bank, which sets the interest rate for the union as a whole. Fiscal policy is implemented at the countrylevel, through the choice of government spending. The model incorporates country-specific shocks and nominal rigidities. Under our assumptions, the optimal cooperative policy arrangement requires that inflation be stabilized at the union level by the common central bank, while fiscal policy is used by each country for stabilization purposes. By contrast, when the fiscal authorities act in a non-coordinated way, their joint actions lead to a suboptimal outcome, and make the common central bank face a trade-off between inflation and output gap stabilization at the union level.

Monetary policy and exchange rate volatility in a small open economy

We lay out a small open economy version of the Calvo sticky price model, and show how the equilibrium dynamics can be reduced to simple representation in domestic inflation and the output gap. We use the resulting framework to analyze the macroeconomic implications of three alternative rule-based policy regimes for the small open economy: domestic inflation and CPI-based Taylor rules, and an exchange rate peg. We show that a key difference amongthese regimes lies in the relative amount of exchange rate volatility that they entail. We also discuss a special case for which domestic inflation targeting constitutes the optimal policy, and where a simple second order approximation to the utility of the representative consumer can be derived and used to evaluate the welfare losses associated with the suboptimal rules.

Multiple filtering devices for the estimation of cyclical DSGE models

We propose a method to estimate time invariant cyclical DSGE models using the informationprovided by a variety of filters. We treat data filtered with alternative procedures as contaminated proxies of the relevant model-based quantities and estimate structural and non-structuralparameters jointly using a signal extraction approach. We employ simulated data to illustratethe properties of the procedure and compare our conclusions with those obtained when just onefilter is used. We revisit the role of money in the transmission of monetary business cycles.

International capital flows and credit market imperfections: A tale of two frictions

The financial crisis of 2007-08 has underscored the importance of adverse selection in financialmarkets. This friction has been mostly neglected by macroeconomic models of financialimperfections, however, which have focused almost exclusively on the effects of limited pledgeability.In this paper, we fill this gap by developing a standard growth model with adverseselection. Our main results are that, by fostering unproductive investment, adverse selection:(i) leads to an increase in the economy s equilibrium interest rate, and; (ii) it generates a negativewedge between the marginal return to investment and the equilibrium interest rate. Underfinancial integration, we show how this translates into excessive capital inflows and endogenouscycles. We also extend our model to the more general case in which adverse selection and limitedpledgeability coexist. We conclude that both frictions complement one another and show thatlimited pledgeability exacerbates the effects of adverse selection.