Den 1 augusti 2012 infördes en skatt på finansiella transaktioner i Frankrike. Detta är ett av många exempel, nuvarande och i planeringsstadiet, på fenomenet där ekonomiska marknader beläggs med skatt. Hur detta påverkar marknaden är vad denna uppsats ämnar studera då tidigare teori och empiri pekar åt olika håll. För att uppnå detta syfte undersöks hur likviditeten och volatiliteten påverkades i anslutning till skattens införande i Frankrike. Likviditeten uppskattas genom spreaden samt handelsvolymen. Hypotesprövning samt poolad regression utförs för att utröna effekten och fynden indikerar på en minskning i likviditet associerad med skattens införande. Volatiliteten förblir opåverkad av införandet vilket går emot vad både förespråkare och motståndare till skatten påstår.

The Point Spread Function (PSF) indirectly encodes the wavefront aberrations of an optical system and therefore is a metric of the system performance. Analysis of the PSF properties is useful in the case of diffractive optics where the wavefront emerging from the exit pupil is not necessarily continuous and consequently not well represented by traditional wavefront error descriptors such as Zernike polynomials. The discontinuities in the wavefront from diffractive optics occur in cases where step heights in the element are not multiples of the illumination wavelength. Examples include binary or N-step structures, multifocal elements where two or more foci are intentionally created or cases where other wavelengths besides the design wavelength are used. Here, a technique for expanding the electric field amplitude of the PSF into a series of orthogonal functions is explored. The expansion coefficients provide insight into the diffraction efficiency and aberration content of diffractive optical elements. Furthermore, this technique is more broadly applicable to elements with a finite number of diffractive zones, as well as decentered patterns.

<p>Konditorska industrije Srbije u svom asortimanu sadrži &scaron;iroku paletu čokoladnih i krem proizvoda, kojima su zajednička sirovinska baza kakao zrno, kakao maslac, namenske biljne masti, kakao prah i &scaron;eder, čiji kvalitet direkno utiče na pona&scaron;anje tokom proizvodnje kao i na kvalitet finalnih proizvoda.<br />Tehnolo&scaron;ki postupak proizvodnje, koji podrazumeva različite uslove mlevenja direkno utiče na kvalitet poluproizvoda (kakao mase, čokoladne mase i masnog punjenja) kao i na kvalitet gotovog proizvoda (čokolada i krem proizvodi).<br />Metali izuzetno nepovoljno utiču na zdravlje potro&scaron;ača i na kvalitet, održivost i senzorske osobine konditorskih proizvoda. Pradenje prisustva te&scaron;kih metala, i uop&scaron;te metala, u ovoj vrsti proizvoda je veoma značajno zbog njihove toksičnosti i bioakumulacije.<br />U okviru ove disertacije su ispitani uzorci kakao i čokoladnih proizvoda, koji su prisutni u slobodnoj prodaji na trži&scaron;tu Srbije, čime se dobio pregled trenutnog stanja kontaminacije ove vrste proizvoda te&scaron;kim metalima. Takođe je ispitan i uticaj sirovinskog sastava i tehnolo&scaron;kog postupka proizvodnje na sadržaj te&scaron;kih metala i metala uop&scaron;te (olova, kadmijuma, arsena, nikla, bakra, gvožđa) u poluproizvodima (kakao masa, čokoladna masa, masno punjenje) i gotovim proizvodima (čokolada, krem proizvod).</p> / <p>The confectionery industry of Serbia includes a wide variety of chocolate and spread products, which contain common raw materials such as cocoa beans, cocoa butter, edible vegetable fats, cocoa powder and sugar. The quality of those raw materials directly affects the behavior during production as well as the quality of the final products. Technological process, which involves different milling conditions directly affect the quality of semi-finished products (cocoa mass, chocolate mass and fat filling mass) and the quality of the final product (chocolate and cream products). Metals extremely adversely affect the health of consumers and the quality, shelf life and sensory properties of confectionery products. Monitoring the presence of heavy metals, and metals in general, in this type of product is very important because of their toxicity and bioaccumulation.<br />This dissertation examined the samples of cocoa and chocolate products, which are present in commercially available market of Serbia, which provided an overview of the current situation of contamination of these products with heavy metals. It also examined the influence of raw material composition and technological process of production on the content of heavy metals and metals in general (lead, cadmium, arsenic, nickel, copper, iron) in semi products (cocoa mass, chocolate mass, fat filling) and final products (chocolate and spread products).</p>

This thesis is trying to understand and describe fundamental principles of power market which needs to be understood by every investor present on this market. These principles are then challenged based on the observations and everyday power market experience. A special focus is put here on understanding of wholesalemarket price-setting mechanism and its implications for the choice of the power production technology by the investor.

Esta dissertação de mestrado discute e analisa os critérios especificados em normas brasileiras e internacionais sobre projetos de sapatas isoladas em concreto armado, com relação a determinação dos esforços solicitantes, dimensionamento e detalhamento das armaduras. O trabalho contém as recomendações essenciais para o projeto e a construção de sapatas isoladas, como o tipo de fundação rasa mais freqüentemente utilizado. São discutidos os critérios apresentados no Boletim número 73 do CEB (1970), da norma brasileira \" Projeto e execução de obras de concreto armado\", NBR 6118 (1982), do Código Modelo do CEB - FIP (1991), Código de Projeto de Edifícios do ACI 318/1995, Eurocode 2 (1992) e do Texto Base para Revisão da NB 1/78(1992) e alguns modelos de cálculo não normalizados mas encontrados na literatura técnica. Observa-se em alguns desses códigos a omissão com relação ao dimensionamento no estado limite último de sapatas isoladas, onde foram, portanto, adaptados critérios indicados para lajes maciças. Exemplos de projetos de sapatas isoladas submetidas a ação centrada, excêntrica com plano de ação do momento paralelo a um dos lados do pilar e sapata com ação centrada e momentos paralelos aos dois lados do pilar são analisados para facilitar o entendimento dos conceitos emitidos pelas várias normas citadas e que são utilizadas comumente pelo meio técnico. Observou-se nos exemplos apresentados que para as tensões normais de tração foram encontradas armaduras mínimas ou valores próximos aos mínimos. Para os valores das forças cortantes e forças para verificar a punção, em alguns casos, se aproximaram das forças últimas. Foi notado que geralmente os efeitos das tensões cisalhantes determinam não só as alturas das sapatas mas também todo o seu dimensionamento. / This Thesis discusses and analyses the footing design criteria of Brazilian Code and also some international codes, in regarding to internal forces determination, dimensioning and reinforcement distribution. This work has essential recommendations to design and construct spread footing, such as the most frequently used types of shallow foundation. Criteria presented in the CEB/1970, NBR 6118/1982, CEB MC-90, ACI 318/1995, EC-2/92, and in the text which can be used as the basis for revised version of the Brazilian Code NB 1/78(1992) are discussed as well as some design models that are not yet normalized but it can be found at technical literature. lt can be observed in some of these Codes that since they do not take into consideration the ultimate limit state in spread footing design, some criteria that are applicable to slabs were adapted for this study. Some examples of spread footing under compression load design, spread footing under eccentric load having flexure plane in one side of column and in both side of column, are analysed to help understanding the concepts on the cited Codes. lt was noted on the examples that it was founded the minimum reinforcement when the structure was submitted to tension stress. Shear forces and forces used to verify punching shear effects reached the ultimate forces in some cases. lt was observed that shear tension effects determine the footing high as well as every footing dimensions.

Ma Wing Kin. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (p. 150-155). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Mode of access: World Wide Web. / Abstracts in English and Chinese.

Total valuation adjustment (XVA) is a new technique which takes multiple material financial factors into consideration when pricing derivatives. This paper explores how funding costs and counterparty credit risk affect pricing the American option based on no-arbitrage analysis. We review previous studies of European option pricing with different funding costs. The conclusions help to compute the no- arbitrage price of the American option in the model with different borrowing and lending rates. Another model with counterparty credit risk is set up, and this pricing approach is referred to as credit valuation adjustment (CVA). A defaultable bond issued by the counterparty is used to hedge the loss from the option's default. We incorporate these two models to assess the XVA of an American option. The collateral, which protects the option investors from default, is considered in our benchmark model. To illustrate our results, numerical experiments are designed to demonstrate the relationship between XVA and parameters, which include the funding rates, bond's rate of return, and number of periods.

The potential for oil exploration on the Arctic Outer Continental Shelf warrants determination of an efficient method to clean up an oil spill. Traditional spill response equipment may not be practical in an Arctic environment; the presence of ice which may prevent proper deployment of equipment. The remoteness of the areas proposed for oil exploration lack the infrastructure and support networks necessary to stage a response to a large oil spill. These difficulties make it necessary to explore alternative means of oil spill cleanup. In situ burning is one method that may be particularly well-suited for arctic and sub-arctic environments due to the minimal amount of equipment required to achieve an efficient burn, i.e. high mass loss. The Arctic and sub- Arctic environments add an additional level of complexity by introducing a spill medium (ice) that is highly unstable at elevated temperatures. Our experiments sought to calculate the mass loss rate of oil mixtures to determine the efficiency with which they burn within ice channels of varying widths. Since fuel layer thickness is a critical factor in determining the effectiveness of an in situ burn the spread rate of oil along an ice channel was studied. Burning of oil in an ice channel yields low efficiencies (10%) primarily due to the geometric changes of the melting ice channel. The spreading was modeled as a constant flux rectilinear buoyancy-inertia governed flow. The melting causes an increase in the surface area and results in the critical thickness of the oil to be reached sooner. Based on the current bench- scale testing, losses due to ice melting cause the efficiencies of the burning process to be excessively low and not viable to full scale clean up. The results warrant future research to understand how varying other parameters, including starting mass of fuel, influence efficiencies.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2015-06-29T18:54:34Z No. of bitstreams: 1 JerônimoV.Lopes.pdf: 1087259 bytes, checksum: 4da4a7bae04f1cc29a15660d53857c55 (MD5) / Made available in DSpace on 2015-06-29T18:54:34Z (GMT). No. of bitstreams: 1 JerônimoV.Lopes.pdf: 1087259 bytes, checksum: 4da4a7bae04f1cc29a15660d53857c55 (MD5) Previous issue date: 2014-07-24 / Nenhuma / O spread é a diferença que os bancos cobram dos tomadores de empréstimos e pagam aos poupadores. Este tema é de suma importância para a economia do país, pois através dos empréstimos realizado pelas instituições bancárias são efetuados os investimentos necessários para o crescimento econômico. Desde 1999 o Banco Central do Brasil divulga os principais componentes do spread, que é um dos componentes da taxa de juros cobrada dos tomadores de empréstimos, que cobre as despesas das instituições financeiras, remunera os poupadores e os bancos. O assunto em questão apresenta-se em diversos estudos, porém sem um consenso entre os seus autores, sendo a taxa de juros de remuneração dos títulos do governo (Selic), juntamente com a taxa de inadimplência, as maiores influências no spread cobrado pelos bancos brasileiros. Mesmo com a queda dos juros no mercado interno no período recente e internacionalmente após a crise de 2008 as taxas cobradas pelas instituições financeiras continuam em um nível elevado, porém com modificações na composição do spread. / The spread is the difference that banks charge from borrowers and savers to pay. This topic is of paramount importance for the country's economy, as through loans made by banks are made the necessary investment to economic growth. Since 1999 the Central Bank of Brazil presents the main components of the spread, which is one of the components of the interest rate charged to borrowers, which covers the costs of financial institutions, pays savers and banks. The subject matter is presented in several studies, but without a consensus among the authors, with the interest rate of return on government bonds (Selic), along with the default rate, the major influences on the spread charged by banks Brazilians. Even with the decline in interest rates domestically and internationally in recent years after the crisis of 2008 the rates charged by financial institutions remain at a high level, but with changes in the composition of the spread.

Over the past several decades, empirical formulas have been developed and improved to predict liquefaction and lateral spread based on a database of case histories from observed earthquakes, such as Youd et al. (2002) and Rauch and Martin (2000). The 2010 Maule Chile earthquake is unique first of all because it is recent and was not used to develop recent liquefaction and lateral spread evaluation methods, and therefore can be reasonably used to evaluate the effectiveness of such equations. Additionally, the 8.8 magnitude megathrust event fills a significant gap in the databases used to develop these empirical formulas, which tends to under represent large magnitude earthquakes and events which occur along subduction zones. Use of case histories from this event will therefore effectively test the robustness and accuracy of these methods.As a part of this comparison, data will be collected from two piers in Port Coronel, Chile: Lo Rojas or Fisherman's Pier, and el Carbonero. Lo Rojas is a municipally owned pier which failed in the 2010 earthquake. Dr. Kyle Rollins gathered detailed engineering survey data defining lateral spread displacements along this pier in a reconnaissance visit with other GEER investigators after the earthquake. El Carbonero was under construction during the earthquake, but no known lateral displacements were observed. Collaboration with local universities and personnel contributed a great deal of knowledge about the soil profile. In early April 2014, collection of SPT and CPT data began in strategic locations to fill gaps of understanding about the stratigraphy near the two piers. Additional testing will provide necessary information to carry out predictions of displacements using current empirical models, which can then be compared with observed displacements collected after the earthquake. Collected data will also be complied, and this alone will provide useful information as it represents a unique case history for future evaluation.The goals of this study are therefore: (1) Collect data for two piers (Lo Rojas and el Carbonero) in Port Coronel, Chile to provide a useful case history of lateral displacements observed; (2) Conduct a liquefaction and lateral spread analysis to predict displacement of the two piers in question, considering lateral spread and slope stability; (3) Compare predicted values with observed displacements and draw conclusions on the predictive capabilities of analyzed empirical equations for similar earthquakes (4) Make recommendations to improve when possible.