City-Effect: New Centralities in Post-pandemic Regional Metropolis Pescara-Chieti

Throughout the Covid-19 pandemic, the functioning of cities has been challenged, both spatially and a-spatially. This has therefore, exposed parts of urban areas to obvious disruption. Cities have expressed an evident spatial centralisation in places with high identity values and specific functions. The frequent disruptions from health limitations have underlined the important relationship between compact cities and conterminous fragments, thus, starting a process of a sustainable rebalancing of the urban system. The purpose of this work is to present the case study of the regional metropolis Pescara-Chieti and highlight how these fragments can become new complementary centralities with the continuous city. These additional centralities can form a multipolar system with different intensities and contribute to the quality of life in peri-urban areas. Based on a literature review, a set of indicators and criteria is proposed to identify the city-effect, that is the capacity of the city to offer, attract and contain. The recent paradigms of the 15-min city, reinforce the thesis advocated and the consequent reconfigurations of urban space as a driver of regeneration and mitigation action at different planning levels. The methodology was applied to a conurbation of 14 municipalities in the Abruzzo Region (Italy), with polarity to the city of Pescara. This work reasons with city users, defined as dynamic on the territory by ISTAT (Italian National Institute of Statistics), on the spatial dislocation of amenities and accessibility. The results have underlined the relationship between spatial continuity and functional integration of urban fragments—interested by the movement of internal dynamics—with different degrees of city-effect. For the latter to be triggered, urban fragments must assume the role of new centrality through the urban project to counteract marginality phenomena. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Analysis of Correlation based Threshold Networks of Dow Jones stocks of USA: An Econophysics Approach

We have investigated the time series of constituents of the Dow Jones Industrial Average (DJIA) for a period of 18 years (2000-2018). DJIA is a dominant stock market index comprising of thirty US based companies. We have applied the Random Matrix Theory (RMT), complex network analysis and hierarchical clustering techniques to extract out the information from the time series of DJIA stocks. The impact of sub-prime crisis of 2008(FC08) on structure and dynamics of network of DJIA stocks is studied by diving the periods under consideration into three distinct periods;pre crisis (PRC), during crisis (DUC) and post crisis (POC) on the basis of volatility. The RMT analysis shows that data analyzed contain important information. Network analysis reveals high correlation among the stocks in the DUC period. The MST and hierarchical clustering techniques support the results of RMT analysis. Degree centralities, closeness centralities and clustering coefficients of DJIA networks increases in DUC period. High correlation and closeness among stocks in DUC period is depicted in various analyses. The dynamic analysis is also carried out which detect various extreme events such as Covid-19. In conclusion, investigation shows that during the period of crisis, there are significant changes in the structure and dynamics of DJIA network. The findings of investigation can be utilized as risk indicator and detection of such crises in future. © 2022. School of Science, IHU. All rights reserved.

Deep diving into the S&P Europe 350 index network and its reaction to COVID-19.

In this paper, we analyse the dynamic partial correlation network of the constituent stocks of S&P Europe 350. We focus on global parameters such as radius, which is rarely used in financial networks literature, and also the diameter and distance parameters. The first two parameters are useful for deducing the force that economic instability should exert to trigger a cascade effect on the network. With these global parameters, we hone the boundaries of the strength that a shock should exert to trigger a cascade effect. In addition, we analysed the homophilic profiles, which is quite new in financial networks literature. We found highly homophilic relationships among companies, considering firms by country and industry. We also calculate the local parameters such as degree, closeness, betweenness, eigenvector, and harmonic centralities to gauge the importance of the companies regarding different aspects, such as the strength of the relationships with their neighbourhood and their location in the network. Finally, we analysed a network substructure by introducing the skeleton concept of a dynamic network. This subnetwork allowed us to study the stability of relations among constituents and detect a significant increase in these stable connections during the Covid-19 pandemic.

Public space and 15-minute city. A conceptual exploration for the functional reconfiguration of proximity city

The global Covid-19 pandemic has changed individuals, uses and perceptions of spaces and cities. The current debate in Urban Planning is animated by the themes of proximity, public space and accessibility to essential urban functions. The functioning of the contemporary city has definitely exploded, showing its shortcomings and underlining the need to interpret it as a fragmentable and self-sufficient entity in case of emergency. The new urban models and approaches adopted seek to respond to this by reallocating essential urban functions and eco-systemic connections so that the urban and peri-urban cooperate to initiate a process of socio-economic development. The idea of a multi-polar system marked by the metric of time of use is pursued. The centrality evolves from the geographical concept to the directional one, becoming infrastructural and cognitive to increase the liveability of the urban space. The aim of the paper is to evaluate how urban transformations, through the analysis of best practices and scientific literature, can be elements in support of the proximity city and how transformative placemaking can be part of the strategy.

Covid-19 pandemic and spillover effects in stock markets: A financial network approach.

This paper examines the impact of the COVID-19 pandemic on 51 major stock markets, both emerging and developed. We isolated the countries susceptible to shock transmissions, and evaluated countries with immunity, during the lockdown. Specifically, using dependence dynamics and network analysis on a bivariate basis, we identify volatility and contagion risk among stock markets during the COVID-19 pandemic. The empirical findings add to the existing body of literature, given that previous work has not placed emphasis on network topologic metrics when it comes to financial networks, specifically during the COVID-19. The evidence shows instant financial contagion a result of the lockdown and the spread of the novel coronavirus. The methodological framework outlines important information for investors and policymakers on using financial networks to improve portfolio selection, by placing an emphasis on assets according to centrality.