<html>
<head>
<meta http-equiv="content-type" content="text/html; charset=ISO-8859-15">
</head>
<body text="#000000" bgcolor="#FFFFFF">
<meta http-equiv="Content-Type" content="text/html;
charset=ISO-8859-15">
<p class="MsoTitle"><span
style="font-size:18.0pt;font-family:"Times New
Roman","serif"">NO
FREE LUNCH SEMINAR</span><span
style="font-size:18.0pt;font-family:"Times New
Roman","serif";
font-weight:normal;mso-bidi-font-weight:bold;text-decoration:none;text-underline:
none"><o:p></o:p></span></p>
<p class="MsoTitle"><span
style="font-size:16.0pt;font-family:"Times New
Roman","serif";
font-weight:normal;mso-bidi-font-weight:bold;text-decoration:none;text-underline:
none">seminari di finanza quantitativa<o:p></o:p></span></p>
<p class="MsoTitle"><span
style="font-size:10.0pt;font-family:"Times New
Roman","serif""><o:p><span
style="text-decoration:none"> </span></o:p></span></p>
<h2><span style="font-family:"Times New
Roman","serif";mso-no-proof:yes">Lunedì
7 ottobre 2013</span><span style="font-family:"Times New
Roman","serif""><o:p></o:p></span></h2>
<p class="MsoNormal" style="margin-left:9.0pt;text-align:center;
line-height:18.0pt;tab-stops:324.0pt" align="center"><span
style="font-size:16.0pt;font-family:
"Times New Roman","serif"">ore <span
style="mso-no-proof:yes">13.00</span><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:9.0pt;text-align:center;
line-height:18.0pt;tab-stops:324.0pt" align="center"><u><span
style="font-size:16.0pt;
font-family:"Times New Roman","serif"">Scuola
Normale Superiore<o:p></o:p></span></u></p>
<p class="MsoNormal" style="margin-left:9.0pt;text-align:center;
line-height:18.0pt;tab-stops:324.0pt" align="center"><span
style="font-size:16.0pt;font-family:
"Times New Roman","serif"">Pisa<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:9.0pt;text-align:center;
line-height:18.0pt;tab-stops:324.0pt" align="center"><span
style="font-size:16.0pt;font-family:
"Times New Roman","serif"">(Aula <span
style="mso-no-proof:yes">Bianchi</span>)<o:p></o:p></span></p>
<p class="MsoNormal" style="tab-stops:324.0pt"><b><u><span
style="font-size:10.0pt;
font-family:"Times New Roman","serif""><o:p><span
style="text-decoration:none"> </span></o:p></span></u></b></p>
<pre style="text-align:center"><b style="mso-bidi-font-weight:normal"><span style="font-size:22.0pt;font-family:"Times New Roman","serif"">Emilio Barucci<o:p></o:p></span></b></pre>
<pre style="text-align:center"><i style="mso-bidi-font-style:normal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">Politecnico di Milano<o:p></o:p></span></i></pre>
<p class="MsoNormal" style="text-align:center" align="center"><b
style="mso-bidi-font-weight:
normal"><i style="mso-bidi-font-style:normal"><span
style="font-size:22.0pt;
font-family:"Times New Roman","serif""><o:p> </o:p></span></i></b></p>
<p class="MsoNormal" style="text-align:center;tab-stops:324.0pt"
align="center"><span
style="font-size:16.0pt;font-family:"Times New
Roman","serif"">Terrà un
seminario dal titolo:<o:p></o:p></span></p>
<p class="MsoNormal" style="tab-stops:324.0pt"><span
style="font-family:"Times New
Roman","serif""><o:p> </o:p></span></p>
<pre style="text-align:center"><b style="mso-bidi-font-weight:normal"><i style="mso-bidi-font-style:normal"><span style="font-size:22.0pt;
font-family:"Times New Roman","serif";mso-ansi-language:EN-US" lang="EN-US">“</span></i></b><b style="mso-bidi-font-weight:normal"><span style="font-size:22.0pt;
font-family:"Times New Roman","serif";mso-ansi-language:EN-US" lang="EN-US">Does a countercyclical buffer affect bank management?<i style="mso-bidi-font-style:normal">”</i><o:p></o:p></span></b></pre>
<p class="MsoNormal" style="text-align:center" align="center"><b
style="mso-bidi-font-weight:
normal"><i style="mso-bidi-font-style:normal"><span
style="font-size:22.0pt;font-family:"Times New
Roman","serif";mso-ansi-language:
EN-US" lang="EN-US"><o:p> </o:p></span></i></b></p>
<p class="MsoNormal" style="text-align:justify"><b
style="mso-bidi-font-weight:
normal"><i style="mso-bidi-font-style:normal"><span
style="font-size:10.0pt;font-family:"Times New
Roman","serif";mso-ansi-language:
EN-US" lang="EN-US">Abstract<o:p></o:p></span></i></b></p>
<pre style="text-align:justify"><big><i style="mso-bidi-font-style:normal"><span style="font-family:"Times New Roman","serif";mso-ansi-language:EN-US" lang="EN-US">We analyze the effect of the countercyclical capital buffer, as provided by the Basel III regulation, on bank management.<o:p></o:p></span></i></big></pre>
<pre style="text-align:justify"><big><i style="mso-bidi-font-style:normal"><span style="font-family:"Times New Roman","serif";mso-ansi-language:EN-US" lang="EN-US">The goal of the regualtion is to reduce bank leverage and excess risk taking.<o:p></o:p></span></i></big></pre>
<pre style="text-align:justify"><big><i style="mso-bidi-font-style:normal"><span style="font-family:"Times New Roman","serif";mso-ansi-language:EN-US" lang="EN-US">We show that the countercyclical buffer increases the incentive for equity holders to take excess risk investing in assets with high drift rate independently of their volatility. Therefore, the buffer induces risk-shifting incentives, however it is effective in reducing the bank size and its leverage but the magnitudo is rather small.<o:p></o:p></span></i></big></pre>
<pre style="text-align:justify"><big><i style="mso-bidi-font-style:normal"><span style="font-family:"Times New Roman","serif";mso-ansi-language:EN-US" lang="EN-US"><o:p> </o:p></span></i></big></pre>
<pre style="text-align:justify"><big><i style="mso-bidi-font-style:normal"><span style="font-family:"Times New Roman","serif";mso-ansi-language:EN-US" lang="EN-US">Joint work with Luca Del Viva, ESADE Business School<o:p></o:p></span></i></big></pre>
<big>
</big>
<p class="MsoNormal" style="text-align:justify"><big><span
style="font-size:16.0pt;font-family:"Times New
Roman","serif";mso-ansi-language:
EN-US" lang="EN-US"><o:p> </o:p></span></big></p>
<p class="MsoNormal" style="text-align:justify"><span
style="font-size:16.0pt;
font-family:"Times New Roman","serif"">Tutti
gli interessati sono invitati a
partecipare.<o:p></o:p></span></p>
<p class="MsoBodyText" style="tab-stops:9.0cm"><span
style="font-size:16.0pt;
font-family:"Times New
Roman","serif";mso-ansi-language:IT"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="tab-stops:9.0cm"><span
style="font-size:16.0pt;
font-family:"Times New
Roman","serif";mso-ansi-language:IT">Classe di
Scienze<o:p></o:p></span></p>
<p class="MsoBodyText" style="tab-stops:9.0cm"><span
style="font-size:16.0pt;
font-family:"Times New
Roman","serif";mso-ansi-language:IT"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="tab-stops:9.0cm"><span
style="font-size:16.0pt;
font-family:"Times New
Roman","serif";mso-ansi-language:IT"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="tab-stops:9.0cm"><span
style="font-size:16.0pt;
font-family:"Times New
Roman","serif";mso-ansi-language:IT"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="tab-stops:9.0cm"><span
style="font-size:16.0pt;
font-family:"Times New
Roman","serif";mso-ansi-language:IT"><o:p> </o:p></span></p>
<meta name="ProgId" content="Word.Document">
<meta name="Generator" content="Microsoft Word 14">
<meta name="Originator" content="Microsoft Word 14">
<link rel="File-List"
href="file:///C:%5CUsers%5CVALERI%7E1.GIU%5CAppData%5CLocal%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml">
<!--[if gte mso 9]><xml>
<o:OfficeDocumentSettings>
<o:RelyOnVML/>
<o:AllowPNG/>
</o:OfficeDocumentSettings>
</xml><![endif]-->
<link rel="themeData"
href="file:///C:%5CUsers%5CVALERI%7E1.GIU%5CAppData%5CLocal%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx">
<link rel="colorSchemeMapping"
href="file:///C:%5CUsers%5CVALERI%7E1.GIU%5CAppData%5CLocal%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml">
<!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:DoNotShowRevisions/>
<w:DoNotPrintRevisions/>
<w:DoNotShowMarkup/>
<w:DoNotShowComments/>
<w:HyphenationZone>14</w:HyphenationZone>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-US</w:LidThemeOther>
<w:LidThemeAsian>JA</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:EnableOpenTypeKerning/>
<w:DontFlipMirrorIndents/>
<w:OverrideTableStyleHps/>
</w:Compatibility>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--><!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="0" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="0" Name="Body Text"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]-->
<style>
<!--
/* Font Definitions */
@font-face
{font-family:"New York";
panose-1:2 4 5 3 6 5 6 2 3 4;
mso-font-alt:"Times New Roman";
mso-font-charset:0;
mso-generic-font-family:roman;
mso-font-format:other;
mso-font-pitch:variable;
mso-font-signature:3 0 0 0 1 0;}
@font-face
{font-family:"New York";
panose-1:2 4 5 3 6 5 6 2 3 4;
mso-font-alt:"Times New Roman";
mso-font-charset:0;
mso-generic-font-family:roman;
mso-font-format:other;
mso-font-pitch:variable;
mso-font-signature:3 0 0 0 1 0;}
@font-face
{font-family:TradeGothicPl-CondEighteen;
mso-font-alt:"Courier New";
mso-font-charset:0;
mso-generic-font-family:auto;
mso-font-pitch:variable;
mso-font-signature:50331648 0 0 0 1 0;}
@font-face
{font-family:"Avant Garde";
panose-1:0 0 0 0 0 0 0 0 0 0;
mso-font-alt:"Century Gothic";
mso-font-charset:0;
mso-generic-font-family:auto;
mso-font-format:other;
mso-font-pitch:variable;
mso-font-signature:3 0 0 0 1 0;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{mso-style-unhide:no;
mso-style-qformat:yes;
mso-style-parent:"";
margin:0cm;
margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:12.0pt;
font-family:TradeGothicPl-CondEighteen;
mso-fareast-font-family:"Times New Roman";
mso-hansi-font-family:TradeGothicPl-CondEighteen;
mso-bidi-font-family:"Times New Roman";}
h2
{mso-style-unhide:no;
mso-style-qformat:yes;
mso-style-link:"Titolo 2 Carattere";
mso-style-next:Normale;
margin-top:0cm;
margin-right:0cm;
margin-bottom:0cm;
margin-left:9.0pt;
margin-bottom:.0001pt;
text-align:center;
line-height:18.0pt;
mso-pagination:widow-orphan;
page-break-after:avoid;
mso-outline-level:2;
tab-stops:324.0pt;
font-size:18.0pt;
font-family:"New York","serif";}
p.MsoTitle, li.MsoTitle, div.MsoTitle
{mso-style-unhide:no;
mso-style-qformat:yes;
mso-style-link:"Titolo Carattere";
margin:0cm;
margin-bottom:.0001pt;
text-align:center;
mso-line-height-alt:18.0pt;
mso-pagination:widow-orphan;
tab-stops:324.0pt;
font-size:24.0pt;
font-family:"New York","serif";
mso-fareast-font-family:"Times New Roman";
mso-bidi-font-family:"Times New Roman";
font-weight:bold;
text-decoration:underline;
text-underline:single;}
p.MsoBodyText, li.MsoBodyText, div.MsoBodyText
{mso-style-unhide:no;
mso-style-link:"Corpo testo Carattere";
margin:0cm;
margin-bottom:.0001pt;
text-align:justify;
mso-pagination:widow-orphan;
tab-stops:324.0pt;
font-size:12.0pt;
font-family:"Avant Garde";
mso-fareast-font-family:"Times New Roman";
mso-bidi-font-family:"Avant Garde";
mso-ansi-language:EN-GB;}
pre
{mso-style-priority:99;
mso-style-unhide:no;
mso-style-link:"Preformattato HTML Carattere";
margin:0cm;
margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Courier New";
mso-fareast-font-family:"Times New Roman";}
span.Titolo2Carattere
{mso-style-name:"Titolo 2 Carattere";
mso-style-unhide:no;
mso-style-locked:yes;
mso-style-link:"Titolo 2";
mso-ansi-font-size:18.0pt;
mso-bidi-font-size:18.0pt;
font-family:"New York","serif";
mso-ascii-font-family:"New York";
mso-hansi-font-family:"New York";
font-weight:bold;}
span.CorpotestoCarattere
{mso-style-name:"Corpo testo Carattere";
mso-style-unhide:no;
mso-style-locked:yes;
mso-style-link:"Corpo testo";
mso-ansi-font-size:12.0pt;
mso-bidi-font-size:12.0pt;
font-family:"Avant Garde";
mso-ascii-font-family:"Avant Garde";
mso-hansi-font-family:"Avant Garde";
mso-bidi-font-family:"Avant Garde";
mso-ansi-language:EN-GB;}
span.TitoloCarattere
{mso-style-name:"Titolo Carattere";
mso-style-unhide:no;
mso-style-locked:yes;
mso-style-link:Titolo;
mso-ansi-font-size:24.0pt;
mso-bidi-font-size:24.0pt;
font-family:"New York","serif";
mso-ascii-font-family:"New York";
mso-hansi-font-family:"New York";
font-weight:bold;
text-decoration:underline;
text-underline:single;}
span.PreformattatoHTMLCarattere
{mso-style-name:"Preformattato HTML Carattere";
mso-style-priority:99;
mso-style-unhide:no;
mso-style-locked:yes;
mso-style-link:"Preformattato HTML";
font-family:"Courier New";
mso-ascii-font-family:"Courier New";
mso-hansi-font-family:"Courier New";
mso-bidi-font-family:"Courier New";}
.MsoChpDefault
{mso-style-type:export-only;
mso-default-props:yes;
font-size:10.0pt;
mso-ansi-font-size:10.0pt;
mso-bidi-font-size:10.0pt;}
@page WordSection1
{size:612.0pt 792.0pt;
margin:70.85pt 2.0cm 2.0cm 2.0cm;
mso-header-margin:36.0pt;
mso-footer-margin:36.0pt;
mso-paper-source:0;}
div.WordSection1
{page:WordSection1;}
-->
</style><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Tabella normale";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman","serif";}
</style>
<![endif]-->
<pre class="moz-signature" cols="72">--
--------------------------------------------------------------------------------
Valeria Giuliani
Scuola Normale Superiore
Servizio alla Didattica e Allievi
Tel. 050-509260
Piazza dei Cavalieri, 7
56126 Pisa
E-Mail: <a class="moz-txt-link-abbreviated" href="mailto:v.giuliani@sns.it">v.giuliani@sns.it</a>
E-Mail: <a class="moz-txt-link-abbreviated" href="mailto:classi@sns.it">classi@sns.it</a>
Le informazioni contenute nella presente e-mail e nei relativi allegati possono essere riservate e sono, comunque, destinate esclusivamente al destinatario in indirizzo.
E’ vietata, pertanto, la diffusione, distribuzione e/o copiatura di tali informazioni da parte di qualsiasi soggetto diverso dal destinatario.
Chiunque abbia ricevuto o letto questa e-mail per errore o senza esserne legittimato è invitato a darne immediatamente notizia al mittente tramite fax o e-mail e a distruggerla.
Grazie.
</pre>
</body>
</html>