Στη παρούσα μελέτη, αρχικά παρουσιάζονται από θεωρητική πλευρά θέματα που αφορούν το ρυθμιστικό πλαίσιο, τον πιστωτικό κίνδυνο, τα μη εξυπηρετούμενα δάνεια και οι έννοιες Ευρωζώνη και Ευρωσύστημα. Ακολούθως, με τη χρήση ενός οικονομετρικού μοντέλου επιχειρήθηκε ο προσδιορισμός των παραγόντων εκείνων που επηρεάζουν τον δείκτη μη εξυπηρετούμενων δανείων στην Ευρωζώνη. Ο δείκτης των μη εξυπηρετούμενων δανείων ουσιαστικά συνιστάται ως προσεγγιστική μεταβλητή του πιστωτικού κινδύνου και την περίοδο αυτή της παρατεταμένης ύφεσης αποτελεί ενδεχομένως τη μεγαλύτερη απειλή που αντιμετωπίζουν τα διάφορα τραπεζικά συστήματα όλου του κόσμου. Χρησιμοποιώντας συγκεντρωτικά δεδομένα (aggregate data) σε ένα πάνελ 13 χωρών της Ευρωζώνης για την περίοδο 2000-2008 και με την βοήθεια της fixed effect προσέγγισης, εντοπίστηκαν ισχυρές συσχετίσεις μεταξύ του NPL και διαφόρων μακροοικονομικών και τραπεζικών (banκ specific) παραγόντων. Πιο συγκεκριμένα, τα ευρήματα της εμπειρικής διερεύνησης, επιβεβαιώνουν τη διεθνή βιβλιογραφία καθώς από πλευράς τραπεζικών μεταβλητών ισχυρή επίδραση στο δείκτη μη εξυπηρετούμενων δάνειων εμφανίζει ο δείκτης κεφαλαιακής επάρκειας, ο δείκτης δάνεια προς καταθέσεις και ο δείκτης των μη εξυπηρετούμενων της προηγούμενης χρονιάς. Τέλος, από μακροοικονομικής πλευράς το δημόσιο χρέος και η ανεργία φαίνεται να είναι δυο επιπλέον παράγοντες που επιδρούν στη διαμόρφωση του δείκτη, αποτυπώνοντας ότι η κατάσταση της οικονομίας των χωρών της ευρωζώνης συνδέεται άρρηκτα με τον δείκτη NPL. / In this study, from the theoretical point of you, issues regarding regulation, credit risk, non-performing loans, Eurozone and Eurosystem are presented. Then, implementing an econometric model it was examined which factors influence the ratio of nonperforming loans in the Eurozone. It is worthwhile to mention that the ratio of NPLs can be used as a proxy of credit risk. Nowadays, credit risk seems to be the greatest risk, which banking systems are facing all over the world. Particularly, Using aggregate data on a panel of 13 countries for the period 2000-2008 and applying the fixed effect approach, strong correlations between the NPL and various macroeconomic and bank specific factors are confirmed. Our findings largely agree with the literature as, in terms of bank-specific variables, the capital ratio, the loans to deposits ratio and the rate of non-performing loans of the previous year appear to exert a powerful influence on the non-performing loans rate. At the same time, from a macroeconomic perspective, the public debt and unemployment seem to be two additional factors that affect the index, revealing that the state of the economy of Eurozone countries is clearly linked to the NPL index.

ARAÚJO, Ana Maria Maurício. Análise das Práticas de Gestão Ambiental e seus Impactos sobre a Produtividade da Carcinicultura na Ceará. 2015. 77 f. : Dissertação (mestrado) - Universidade Federal do Ceará, Pró-Reitoria de Pesquisa e Pós-Graduação, Programa de Pós-Graduação e Meio Ambiente, Fortaleza-CE, 2015. / Submitted by demia Maia (demiamlm@gmail.com) on 2016-04-04T16:48:04Z No. of bitstreams: 1 2015_dis_ammaraujo.pdf: 1584388 bytes, checksum: e3bde066706a843b45134b14176a9a04 (MD5) / Approved for entry into archive by demia Maia(demiamlm@gmail.com) on 2016-04-04T16:51:01Z (GMT) No. of bitstreams: 1 2015_dis_ammaraujo.pdf: 1584388 bytes, checksum: e3bde066706a843b45134b14176a9a04 (MD5) / Made available in DSpace on 2016-04-04T16:51:01Z (GMT). No. of bitstreams: 1 2015_dis_ammaraujo.pdf: 1584388 bytes, checksum: e3bde066706a843b45134b14176a9a04 (MD5) Previous issue date: 2015 / Shrimp farming has been consolidated as one of the most promising economic activities of the Northeast, where it has also been shown to be responsible for high negative impacts on the coastal environment. The research problem was to see how productivity is affected by the adoption of environmental management practices by analyzing the interaction between the productivity factor and other environmental management factors. To do so, we estimated the linear type regression analysis, to obtain a mathematical equation which quantify the relationship between productivity and other variables. The survey was conducted in 60 shrimp farms located in Ceará, on farms intended only for fattening phase. Were raised environmental management practices adopted by producers and created management indices,where these indices were aggregated into a single index that along with the variables that describe the productive characteristics and location of the farms originated econometric linlog semi-logarithmic models. Regression analysis showed that the yield is better explained by the storage density, intensive production system periodic servicing. Environmental management is not configured as a factor that influences productivity, justifying the low level of environmental management by shrimp farmers. / A carcinicultura vem se consolidando como uma das mais promissoras atividades econômicas da Região Nordeste, onde também tem sido apresentada como responsável por elevados impactos negativos sobre o ambiente costeiro. O problema da pesquisa consistiu em verificar como a produtividade é afetada pela adoção de práticas de gestão ambiental, através da análise da interação entre o fator produtividade e os outros fatores de gestão ambiental. Para isto, estimou-se uma análise de regressão do tipo linear, para obter uma equação matemática que quantificasse o relacionamento entre produtividade e outras variáveis. A pesquisa foi realizada em 60 fazendas de carcinicultura localizadas no Ceará, em fazendas destinadas somente à fase de engorda. Foram levantadas as práticas de gestão ambiental adotadas pelos produtores e criados índices de manejo, onde estes índices foram agregados em um único índice que juntamente com as variáveis que descrevem as características produtivas e de localização das fazendas originou modelos econométricos semi-logarítmicos lin-log. A análise de regressão mostrou que a produtividade é melhor explicada pela densidade de estocagem, sistema de produção intensivo a assistência técnica periódica. A gestão ambiental não se configura como um fator que influencie a produtividade, justificando o baixo nível de gestão ambiental pelos carcinicultores.

The thesis analyzes how minimum wage influences unemployment in the Czech Republic. Firstly, the economic theory is researched and the conclusion is that the Czech labour market is very similar to a monopsony market due to the low mobility of the workforce and the low rate of immigration. Another result is that the level of wages in developed economies does not depend on the productivity of the workforce anymore, so minimum wage laws have psychological impacts rather than economical. The following part of this thesis is dedicated to the comparison of labour market indicators between european countries. The last chapter investigates the main hypothesis with a dataset from the Czech Republic between 1993-2014 using the econometric model. A 1% increase of real minimum wage resulted in a 0.01% increase in the general unemployment rate and a 0.1% increase of unemployment among the young population. But if the minimum wage will be raised during the times of real GDP growth, influence on unemployment will be eliminated.

The main aim of this diploma thesis is to analyse visitation of the zoological garden in Brno and to make recommendations which could result in higher values of visitation. The major causes of the fluctuation in visitation are found out and the econometric model is created. Due to this model, we can predict the future values of the reference indicator. In order to determine the interdependence between Zoo Brno attendance and the number of guests accommodated in the South Moravian Region, the econometrics model of South Moravia Region visitation was created too. Based on the analysis of external and internal environment, recommendations which could positively influence Zoo Brno attractiveness and number of its visitors are suggested. All used methods of analysis and creating model are presented in the theoretical part of this diploma thesis.

Replacing conventional generation with renewable generation in power systems is essential for reducing CO2 emissions. It is important to know how effective renewables are in reducing CO2 emissions. Since CO2 reduction cannot be measured directly, different methods have been used to estimate reduction of CO2 emissions. The two most common methods are econometric models and dispatch models. Econometric models apply regression analysis using historical data for CO2 emissions, power production, and electricity demand to estimate CO2 reduction. On the other hand, dispatch models are detailed optimization simulations of power systems where the objective is to calculate the cost-optimal dispatch of the power plants. The dispatch model finds the optimal dispatch for a base case and counterfactual case. In the counterfactual case, the renewable generation in the system is modified. From the difference in CO2 emissions between the two cases, an estimation of CO2 reduction can be made. Recent studies have shown that dispatch models and econometric models can give different estimations of CO2 reduction. However, these studies did not include several factors that can increase CO2 emissions, such as; transmission constraints, security requirements, and non-linear factors. Examples of non-linear factors are; minimum dispatched energy of generating units, start up emissions, minimum up- and downtime for generating units, and energy generated during start-up and shut-down. This thesis examines if there is an agreement between econometric models and dispatch models for estimating CO2 reduction and if the agreement changes when more non-linear factors are considered. To examine these questions a systematic comparison has been done. Two econometric models are constructed, a linear econometric model and a polynomial linear econometric model. The polynomial linear econometric model is constructed to take into account non-linear factors. Eight dispatch models are constructed with increasing modelling complexity. Four model versions do not include any non-linear factors and four include non-linear factors. The results showed that the agreement between econometric and dispatch models is fairly good, except for versions that contain transmission constraints. The simulation is executed in a fictional test system that is not dimensioned for wind power generation at the given buses. Therefore is possible that transmission constraints impacts the reduction of CO2 too heavily. Furthermore, the results show that the non-linear factors contribute to CO2 emission and consequently lower the estimation of CO2 reduction. However, no conclusion can be made if the agreement between econometric and dispatch models divert when more non-linear factors are considered. / Världens utsläpp av CO2 måste minska för att inte jorden ska drabbas av drastiska klimatförändringar som temperaturhöjningar. Idag står elproduktionen för ungefär en fjärdedel av världens utsläpp av CO2. Därmed måste dagens elproduktion och elkraftsystem minska sina utsläpp av CO2 . Ett viktigt verktyg för att kraftsystem ska minska sina utsläpp av CO2 är expansion av förnybar elproduktion. Dock så går det inte att mäta direkt hur mycket CO2-utsläppen minskar vid expansion av förnybar elproduktion. Därför har flera olika estimeringsmetoder utvecklats för att uppskatta CO2-reduktion. De två vanligaste metoderna är ekonometriska modeller och produktionssimuleringsmodeller. Ekonometriska modeller använder sig av regressionsanalys med historiska tidsserier som; CO2 -utsläpp, kraftproduktion och elförbrukning för att uppskata CO2 -minskningen. Produktionssimuleringsmodeller är detaljerade optimeringssimuleringar där avsikten är att beräkna den kostoptimala användningen av kraftverk i ett system. Tidigare studier har visat att ekonometriska modeller och produktionssimuleringsmodeller kan ge olika uppskattningar av CO2 -reduktion. Dock har produktionssimuleringsmodellerna i studierna inte tagit hänsyn till flera faktorer som kan påverka CO2-utsläppen, som t.ex. överföringsbegränsningar, säkerhetsbegräsningar och icke-linjära faktorer. Exempel på icke-linjära faktorer är minimal produktion av energi för varje kraftverk, CO2 -utsläpp vi uppstart, minimal upp- och nertid och produktion vid uppstart och nedstänging för varje generator. Den här uppsatsen undersöker om de två metoderna ekonometriska modeller och produktionssimuleringsmodeller liknade uppskattningar av CO2 -reduktion och hur överrenstämmelsen mellan modellerna påverkas när man beaktar icke-linjära faktorer. För att försöka besvara dessa frågor har en systematisk jämförelse utförts. Två ekonometriska modeller har konstruerats, en linjär och en polynom-linjär ekonometrisk modell. Den polynom-linjära ekonometriska modellen tar i beaktning icke-linjära faktorer. Åtta produktionssimuleringsmodeller har konstruerats och de åtta olika modellerna har formulerats i en ökande ordning av noggrannhet. Fyra av modellerna tar inte hänsyn till några icke-linjära faktorer och fyra av modellerrna tar hänsyn till icke-linjära faktorer.

Tinkamas kapitalo struktūros parinkimas lemia sėkmingą įmonės veiklą ir perspektyvas. Keičiantis rinkoms, finansinei ir ekonominei situacijai, keičiasi finansinių šaltinių pasirinkimo alternatyvos. Siekiant rasti optimalią įmonės kapitalo struktūrą reikia efektyviai subalansuoti skolintas ir nuosavas lėšas bei nustatyti kokie veiksniai sąlygoja kapitalo struktūros formavimą. Tai gali būti tiek vidiniai, tokie kaip įmonių galimybės skolintis, pelningumas, įmonės dydis ir kt., tiek išoriniai veiksniai: bendrasis vidaus produktas, infliacija, palūkanų norma ir kt. Šio darbo objektas – įmonių kapitalo struktūros formavimas. Darbo tikslas – ištirti Lietuvos įmonių kapitalo struktūrą sąlygojančius veiksnius bei sudaryti kapitalo struktūros ir tiriamų veiksnių ryšio modelį. Siekiant iškelto tikslo, yra nagrinėjami tokie uždaviniai: • remiantis moksline literatūra išanalizuoti įmonės kapitalo struktūros sudėtį bei pagrindines kapitalo struktūros formavimo teorijas ir principus; • atlikti empirinių tyrimų analizę, kuriuose užsienio ir Lietuvos autoriai tiria veiksnius, sąlygojančius kapitalo struktūros formavimą. Ištirti ir palyginti keleto autorių sukurtus kapitalo struktūros formavimo modelius; • sudaryti makroekonominių rodiklių ir finansinio sverto sąveikos modelį bei nustatyti makroekonominių veiksnių poveikį Lietuvos įmonių kapitalo struktūros formavimui. Išanalizavus įmonių kapitalo struktūros formavimo teorijas galima teigti, kad šios teorijos ir požiūriai neatsako į klausimą... [toliau žr. visą tekstą] / Selection of appropriate capital structure determines the success and prospects of business. With changes in markets, financial and economic situation, there are changes also to the alternatives of funding sources. In order to find the optimal capital structure one has to balance the own and borrowed funds efficiency and to identify what factors determine the structure of capital formation. This can be both internal factors, such as business lending opportunities, profitability, company size, etc., as well as external factors: gross domestic product, inflation, interest rate and others. Objective of this work is corporate capital structure formation. The aim of this work is to explore the factors influencing the capital structure formation of Lithuanian companies and develop the communication model between the analysed factors. In order to achieve the objective, the following tasks are considered: • based on scientific literature, to analyze a company's capital structure composition and the basic theories and principles of the capital structure formation; • to carry out an analysis of empirical research where foreign and Lithuanian authors investigate the factors influencing the capital structure formation. To analyse and compare models for the formation of capital structure developed by several authors; • to develop a model for the interaction of macro-economic indicators and financial leverage and determine the influence of macroeconomic factors on the capital structure... [to full text]

Analysis of the impact of ageing on health care spending in selected countries of the Commonwealth Abstract This thesis examines and analyses development of population ageing in Australia, Canada and New Zealand and especially its impact on the spending in the sector of health care. It includes comparison of demographic trends and description of health care systems in selected countries. The analysis is then processed by an econometric model focused on the impact of population ageing on government spending and spending of the private sector on health care through life expectancy at birth, ratio of population aged 65 years and above and other indicators. The modelling is carried out using linear regression, vector autoregression and fixed effects model in panel data. The results show that population ageing indeed affects through different intensity both government and private sector spending on health care in Australia, Canada and New Zealand.

Afin de mieux tirer profit de l’Accord d’Association entre l’Amérique centrale et l’Union européenne - UE -, cette étude examine les théories et "l’état de l’art" en matière d’Accords de commerce régionaux pour approfondir ensuite dans les relations commerciales entre l’Amérique centrale et l’UE, leur évolution et leurs déterminants, ainsi que les résultats des négociations de l’Accord, pris comme base pour identifier les opportunités et les défis commerciaux qui se présentent à la région centraméricaine, dans la perspective d’une zone de libre commerce dans le cadre de cet Accord.C’est pourquoi les résultats des tests formels se référant aux relations commerciales entre les deux régions sont décrits en appliquant à un modèle de commerce deux points de vue économétriques, le Modèle de Gravité et la technique de Données de Panel.On observe que pour tirer profit des opportunités de cet Accord, les pays centraméricains se voient face à la nécessité d’effectuer des changements structurels en différents domaines, et parmi ceux-ci des changements visant à augmenter, diversifier et améliorer la qualité de la production exportable, afin de satisfaire la demande et de respecter les normes et les régulations requises pour accéder au marché européen.Pour conclure, un grand nombre de facteurs qui ont limité les exportations de l’Amérique centrale vers l’UE sont macroéconomiques et de caractère structurel, et la réduction des tarifs douaniers en soi n’est pas une condition suffisante pour garantir que l’Accord sera profitable, étant donné que ses bénéfices dépendront des changements qui se produiront en Amérique centrale. / With the object of taking advantage of the Partnership Agreement between Central America and European Union –EU- the study reviews the theories and the “state of the art” regarding Regional Trade Agreements in order to deepen trade relations between Central America and the EU. Its evolution and its determinants as well as the results of the negotiations of the Agreement, as the basis to identity trade opportunities and challenges presented for the Central American region in light of the establishment of a free trade zone within the framework of above-mentioned agreement.For the above-mentioned reason, the results of formal tests regarding trade relations between the two regions are described applying a trade model with two econometric approaches: the Gravity Model and Panel Data technique.As a result, it was identified that in order to take advantage of the opportunities of the Agreement, Central American countries will need to carry out structural changes in different areas among which the ones aimed at increasing, diversifying, and improving the exportable production quality, in order to satisfy the demand and to comply with the norms and regulations necessary to access the European market.It is concluded that many of the factors that have limited Central American exports to the European Union are the ones related to macroeconomics and of a structural nature and that the issue of tariff reduction by itself it is not a sufficient condition to guarantee taking advantage of the Agreement due to the fact that its benefit will be measure in light of the changes that will take place in Central America.

Made available in DSpace on 2016-04-26T20:48:46Z (GMT). No. of bitstreams: 1 Dissertacao Adriana Keiko Miyake.pdf: 3746552 bytes, checksum: 6dd1aaa0e7aa880c56b3871870d50940 (MD5) Previous issue date: 2006-06-20 / Conselho Nacional de Desenvolvimento Científico e Tecnológico / As transformações ocorridas nas últimas décadas na economia internacional provocaram graves crises monetárias e fmanceiras em diversos países, resultando em crises cambiais e no abandono do regime de câmbio fixo. O aumento do poder do capital financeiro sobre o produtivo, decorrente da maior abertura e da desregulamentação dos mercados financeiros, foi um dos fatores que aumentou a vulnerabilidade de economias menos preparadas para essas mudanças, como foi o caso de muitos países em desenvolvimento. Ainda, a abertura comercial ocorrida nesses países expôs seu setor produtivo à crescente concorrência externa de grandes empresas multinacionais. Aliada a esses fatores, a forma com que a política foi conduzida por seus respectivos governos contribuiu para a deflagração da cnse. A crise cambial brasileira, ocorrida no início de 1999, acarretou problemas para toda a economia brasileira. Diante disso, este trabalho procurou estudar os fatores que poderiam ser apontados como responsáveis por esse acontecimento, para que, no futuro, situações semelhantes sejam previstas com maior antecedência e para que medidas sejam tomadas para evitar este tipo de desfecho. Foi feito um acompanhamento da economia, ao longo da década de 1990, para se identificar as variáveis que levaram à crise cambial. A partir disso, foi utilizado um instrumental matemático (regressão do tipo Probit) para se chegar a um modelo econométrico que relacionasse essas variáveis à probabilidade de ocorrência de crise. Diferentemente do que ocorreu nos países do leste asiático, que suscitou o desenvolvimento dos modelos chamados de terceira geração, o resultado obtido no caso brasileiro se mostrou em conformidade com aspectos tanto dos modelos de primeira quanto de segunda geração

This diploma thesis focuses on providing complete characteristics of European electroenergetic industry by sample of 28 most important companies from 28 countries. Analyzing these companies, their financial results and relations to surroundings during terms from 2001 to 2010 is made by means of financial analysis, then output analysis and statistical analysis to prove relations between companies' financial results and macroeconomic and microeconomic factors. As a result of partial analyses there are several findings, of which the most interesting ones are following. Financial results were getting better during observating period, indebtedness was decreased in spite of low level of indebtedness at the beginning, however companies didn't show high profitability of their capital. Companies from southeastern part of Europe had worse results than the others. By statistical analysis there wasn't observed significant influence of prices of input commodities necessary for electricity production. On the other side the positive connection between domestic product with price index and development of these companies was found significant. During this period the decrease of portion of these companies in electricity production in domestic economies was found with average partial privatization.