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Regulators require banks to employ value‐at‐risk (VaR) to estimate the exposure of their trading portfolios to market risk, in order to establish capital requirements. However, portfolio‐level VaR analysis is a high‐dimensional problem and hence computationally intensive. This article presents two new portfolio‐based approaches to reducing the dimensionality of the VaR analysis.

The 2019 ‘Sanremo’ Music Festival has stimulated a heated debate on immigration and Italy's so-called liberal pro-immigrant elites, as the winner, Alessandro Mahmoud, a 26-year-old rapper born in Milan, is the son of an Italian mother and an Egyptian immigrant, to whom he ‘dedicated’ his winning song, ‘Soldi’ (Money) that speaks about irresponsible fathers. A rapper with an Arabic name winning Italy's most famous festival has shocked many Italians who were used to seeing in Sanremo a reassuring representation of the old traditional canzone italiana. His victory was unexpected in a country, in which anti-immigrant attitudes are becoming mainstream, and the League's movement is deliberately whipping up this nationalist wind. However, Mahmoud represents only the tip of the iceberg as since 2005 a number of so called ‘second generation rappers’ has been growing in Italy, who are using their lyrics to talk about personal and collective discrimination’ experiences. Through a text analysis of the most prominent second generation rap writers, this chapter aims at detecting the claims for belonging they attach to this musicalized social and political forum, shedding light on the question of Italian citizenship that is still denied to second generation young people.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.