The thesis describes interactions and relationships between selected economic indicators. These indicators are the gross domestic product and the average gross monthly wage. The analysis of these selected indicators, are made for the Czech Republic and Slovakia. The work has four main parts, which are divided into several other sections. The first defines the concept of national accounting, the second part contents gross domestic product, the method of its calculating and the frequency of compilation. In the third section is described the field theory of wages and salaries and the concepts such as minimum wage, the average gross monthly wage and median wage and salary are defined. In this two chapters are compared selected countries on the basis of the tables and graphs of selected indicators. The last chapter analyzes the relationships between selected economic indicators in selected countries based on quarterly data from the years 2001-2013.

The aim of this paper is to analyse and compare inflation and its dynamics between two countries -- the Czech Republic and Germany -- applying a special kind of econometric models. The first part of this paper is dedicated to economic theory of inflation -- fundamental terms, measuring methods and its targeting. The monetary policy in the Czech Republic and Germany is also shortly introduced. Next chapter tries to describe the econometric concept which is used in this paper -- vector autoregression model (VAR model). In connection with the VAR models, Granger causality, impulse response function, cointegration and error correction model are mentioned as well. The empirical part includes application of selected models on real time series of macroeconomic indicators. Next to the interpretation of results, the forecasts are also implemented.

Croton (Euphorbiaceae), é um gênero promissor para pesquisa de compostos bioativos, tanto pela variedade de compostos químicos encontrados, quanto pela diversidade de uso na medicina tradicional/popular. Estudos farmacológicos comprovaram atividades antimicrobianas, antivirais, anti-inflamatórias, antioxidantes e citotóxicas. Neste trabalho, foram obtidos extratos fracionados em Soxhlet (hexano, diclorometano, acetato de etila e metanol) de folhas e caules de C. pallidulus Baill var. pallidulus (Baill.) L.B. Smith & S.F. Smith. Esses extratos foram avaliados quanto às atividades 1) antibacteriana pelo método de microdiluição em caldo, utilizando Staphylococcus aureus - cepas sensível e resistente à vancomicina, Pseudomonas aeruginosa, Escherichia coli e Salmonella choleraesuis; 2) antioxidante (sequestro do radical livre DPPH); e quanto à toxicidade frente à Artemia salina. A fração mais ativa neste último ensaio foi selecionada para a avaliação da atividade citotóxica utilizando as células de sarcoma uterino humano. Os fenóis totais, e flavonóis e flavonas totais foram quantificados por métodos colorimétricos. O fracionamento dos extratos hexânico e diclorometânico foi feito por cromatografia em coluna de sílica, enquanto o dos extratos de acetato de etila e metanol, em coluna de PVPP. O isolamento das substâncias das frações ativas nos ensaios de atividade antibacteriana (S. aureus - sensível) e de toxicidade frente à A. salina foi realizado por CLAE semipreparativo. O teor de fenóis totais de C. pallidulus var. pallidulus foi de 1,95 g EAG/100g MS e de flavonóis e flavonas totais foi de 0,56 g EQ/100g MS. Todos os extratos apresentaram atividade contra S. aureus (sensível e resistente), com CBM de 2048 mg/L, exceto o extrato metanólico que apresentou atividade apenas contra S. aureus (sensível). Nenhum extrato apresentou atividade contra as demais cepas. As frações FH-5A - hexano (CBM de 256mg/L) e FA-7 - acetato de etila (CBM de 1024mg/L) foram as que apresentaram maior atividade antibacteriana. A fração FH-5A foi separada em coluna de sílica, e suas subfrações apresentaram atividades antibacterianas menores que a fração que lhe deu origem. Das sete substâncias majoritárias isoladas da fração FA-7, nenhuma apresentou atividade antibacteriana. Seis delas são flavonoides: três C-glicosídeos de apigenina, um O-glucosídeo de campferol, um O-galactosídeo de isoramnetina e um O-rutinosídeo de isoraminetina. Apenas o extrato diclorometânico apresentou atividade no ensaio de toxicidade frente à A. salina, com CL50 de 385mg/L. A fração com maior toxicidade foi a FD-4A, com CL50 de 101mg/L. As substâncias mais abundantes nesta fração foram isoladas e identificadas como 8,9-secocauranos, derivados da kongensina F. Quanto a atividade citotóxica, a atividade de FD-4A foi três vezes maior que a atividade do extrato diclorometânico. Os extratos de acetato de etila e de metanol apresentaram os maiores valores de atividade antioxidante: 12,11 e 11,77 gEQ/100g, respectivamente. Verificou-se que os flavonoides foram as substâncias fenólicas que mais influenciaram na atividade antioxidante das frações dos extratos de acetato de etila e de metanol. Com esses resultados verifica-se que C. pallidulus var. pallidulus possui ação antibacteriana, citotóxica e antioxidante, sendo uma potencial fonte para novos fármacos para tratamento de doenças infecciosas e câncer. Conseguiu-se também isolar três 8,9-secocauranos, derivados da kongensina F, que aparentemente não haviam ainda sido descritos / Croton (Euphorbiaceae), is a promising genre for investigation of bioactive compounds, both for the variety of compouds, as for the diversity of use in traditional medicine. Pharmacological studies have demonstrated antimicrobial, antiviral, anti-inflammatory, cytotoxic, and antioxidant activities. In this study, fractionated extracts of leaves and stems of C. pallidulus Baill var. pallidulus (Baill.) L.B. S.F. Smith & Smith were obtained throught Soxhlet (hexane, dichloromethane, ethyl acetate and methanol). The following activities of these extracts were tested: 1) antibacterial activity, through microbroth dilution assay using: Staphylococcus aureus - sensitive and vancomycin-resistant strains, Pseudomonas aeruginosa, Escherichia coli and Salmonella choleraesuis; 2) antioxidant activity (free radical DPPH scavenging) and Artemia salina toxicity evaluation. The most active fraction in the latter test was selected to evaluate the cytotoxic activity using human uterine sarcoma cells. The total phenols, and total flavonols and flavones were quantified by colorimetric methods. The fractionation of hexane and dichloromethane extracts was done through silica column chromatography, while PVPP column was used for the ethyl acetate and methanol extracts. The isolation of the active fractions major compounds in the antibacterial activity (S. aureus - sensitive) and A. saline toxicity assays were performed by semipreparative HPLC. The total phenolic content of C. pallidulus var. pallidulus was 1.95 g GAE/100g DM and total flavonols and flavones was 0.56 g QE/100g MS. All extracts showed activity against S. aureus (sensitive and resistant), with MBC of 2048 mg/L, except for the methanol extract, which showed activity only against S. aureus (sensitive). Extracts showed no activity against the other strains. Fractions FH-5A-hexane (MBC: 256mg/L) and FA-7-ethyl acetate (MBC: 1024mg/L) showed the highest antibacterial activity. The fraction FH-5A was separated on a silica column, and its subfractions showed smaller antibacterial activity than FH-5A. The seven major compounds isolated from the FA-7 fraction, showed no antibacterial activity. Six of them are flavonoids, three apigenin C-glycosides, one kaempferol O-glucoside, one isorhamnetin O-galactoside and one isorhamnetin O-rutinoside. Only the dichloromethane extract showed activity in the A. salina toxicity assay, LC50: 385mg/L. The fraction with the highest toxicity was the FD-4A, LC50: 101mg/L. The most abundant substances in this fraction were isolated and identified as 8,9 - secokauranes derived from kongensin F. As for the cytotoxic activity, the FD-4A activity was three times higher than the dichloromethane extract activity. The extracts of ethyl acetate and methanol showed the highest antioxidant activity: 12.11 and 11.77 gQE/100g, respectively. It was observed that flavonoids were the phenolic substances that most influenced the antioxidant activity of the fractions of the ethyl acetate and methanol extracts. With these results we suggest that C. pallidulus var. pallidulus has antibacterial activity, cytotoxic and antioxidant properties, being a potential source of new drugs for treatment of infectious diseases and cancer. We also isolated three 8,9-secokauranes derived from kongensin F, which apparently had not been described yet

Cette thèse étudie les fluctuations macroéconomiques égyptiennes et compare leurs sources avec celles de certains pays du Moyen-Orient et Afrique du Nord (MENA). Un large éventail de méthodes économétriques sont utilisées pour examiner la synchronisation entre les cycles classiques et de croissance égyptiens et ceux de la région MENA, et de quantifier leurs sources de fluctuations ainsi que leurs réponses à ces sources de chocs. Nous ne trouvons aucune preuve de la synchronisation entre les cycles égyptiens et ceux de la région MENA et des pays développés. Les sources des fluctuations égyptiennes sont presque également réparties entre les chocs internes et étrangers, et les chocs du prix du pétrole semblent être le principal moteur de fluctuations de la production. En outre, la capacité de l'économie à contenir l'impact domestique des chocs externes négatifs à travers les chocs domestiques de l'offre et la demande est positive. / This thesis studies Egyptian macroeconomic fluctuations and compares their sources to those of some Middle East and North African (MENA) countries. A wide range of econometric methods are used to investigate the synchronization among Egyptian and MENA classical and growth cycles, and to quantify their sources of fluctuations along with their responses to these sources of shocks. We find no evidence of synchronization between Egyptian cycles and those of MENA and of developed countries. The sources of Egyptian macroeconomic fluctuations are almost equally divided among domestic and foreign shocks, and oil prices shocks appear to be the main driver behind output fluctuations. Moreover, domestic supply and demand shocks play a positive role in moderating negative foreign shocks affecting the economy.

Cette thèse a pour objectif d’évaluer et de comparer la performance des stratégies d’assurance de portefeuille pour tenter de définir quelles stratégies doivent être privilégiées par les investisseurs. Nous comparons de nombreuses stratégies d’assurance (OBPI, CPPI, put synthétique et Stop-loss) entre elles mais également avec quelques autres stratégies de référence. Nous utilisons différents critères de comparaison qui comprennent: 1. Les distributions de pay-off, le niveau de protection, la dominance stochastique et le coût d’assurance dans différentes conditions de marché identifiées par des modèles à changements de régime markovien. 2. Les mesures de la performance ajustée au risque qui peuvent refléter les préférences des investisseurs vis-à-vis du risque et de la rentabilité. 3. Les préférences des investisseurs en intégrant la théorie cumulative des perspectives (TCP). Nos résultats semblent mettre en évidence une dominance des stratégies CPPI dans la majorité des cas et pour la majorité des critères de comparaison. / This thesis is set out with the objective of evaluating and comparing the performance of portfolio insurance strategies. We try to figure out when and why one portfolio insurance strategy should be preferred by investors in practice. To meet this objective, main portfolio insurance strategies (OBPI, CPPI, Synthetic put and Stop-loss) are compared relatively to each other and to some benchmark strategies. Portfolio insurance strategies are applied within different implementation scenarios and compared according to various criteria that include:1. The payoff functions, stochastic dominance, the level of protection and the cost of insurance under bull and bear market conditions. 2. Various risk adjusted performance measures that reflect different investors’ preferences toward risk and return. 3. The preferences of investors who act according to cumulative prospect theory (CPT). Our results reveal a dominant role of CPPI strategy at the majority of cases and according to the majority of comparison criteria.

La formation d'une union monétaire prive les États membres de l'utilisation unilatérale de l'outil monétaire. Dès lors, une orientation efficace des politiques économiques s'impose à travers (i) une hiérarchisation des cibles macroéconomiques, (ii) une identification des instruments appropriés et (iii) une mise en œuvre adaptée. Cette thèse fournit des réponses à cette orientation afin d'assurer une plus grande efficacité des politiques économiques à travers une analyse théorique et empirique appliquée au cas de l'UEMOA qui constitue un laboratoire exemplaire d'analyse des problématiques économiques en union monétaire. / The creation of a monetary union deprives the member States of the unilateral use of the monetary instrument. Therefore, an effective orientation of economic policies is required through (i) a hierarchy of macroeconomic targets, (ii) identification of appropriate instruments, and (iii) appropriate implementation. This PhD thesis provides answers to this orientation in order to ensure greater effectiveness of economic policies through a theoretical and empirical analysis applied to the case of the WAEMU which constitutes a singular analytical laboratory through which to study the economic policy of a monetary union.

Les ressources en eau sont généralement considérées comme l'une des ressources naturelles les plus importantes du développement social, en particulier pour soutenir les usages domestiques, agricoles et industriels. Au cours de la dernière décennie, en raison de l'augmentation des activités humaines, telles que l'urbanisation et l'industrialisation, les impacts sociaux sur l'environnement naturel deviennent de plus en plus intenses. Par conséquent, de nos jours, les problèmes d'eau par rapport à avant deviennent plus compliqués. Pour faire face au problème complexe depuis les années 1970, les gens ont reconnu que le système d'aide à la décision (DSS) présente des avantages évidents. De plus, avec le développement de l'informatique et des techniques web, les DSS sont souvent utilisés pour appuyer la décision locale. Les décideurs pour gérer les ressources naturelles de la région en particulier les ressources en eau. La modélisation hydrologique en charge de la représentation des caractéristiques du bassin versant joue un rôle important dans le système d'aide à la décision environnementale (EDSS). Parmi les différents types de modèles, le modèle hydrologique distribué déterministe est capable de décrire l'état réel de la zone d'étude de manière plus détaillée et précise. Cependant, le seul obstacle à la limitation des applications de ce type de modèle est pointé vers le grand besoin de données demandé par sa configuration de modélisation. Dans cette étude d'évaluation de la modélisation hydrologique dans le projet AquaVar, un modèle distribué déterministe (MIKE SHE) est construit pour l'ensemble du bassin versant du Var avec moins d'informations de terrain disponibles dans la zone. Grâce à une stratégie de modélisation raisonnable, plusieurs hypothèses sont conçues pour résoudre les problèmes de données manquantes dans les intervalles de temps quotidiens et horaires. La simulation est étalonnée sur une échelle de temps quotidienne et horaire de 2008 à 2011, qui contient un événement de crue extrême en 2011. En raison des impacts des données manquantes sur les entrées et les observations du modèle, l'évaluation de l'étalonnage de la modélisation n'est pas seulement basée sur des coefficients statistiques tels que le coefficient de Nash, mais aussi des facteurs physiques (p. ex. valeurs maximales et débit total). Le modèle calibré est capable de décrire les conditions habituelles du système hydrologique varois, et représente également le phénomène inhabituel dans le bassin versant tel que les inondations et les sécheresses. Le processus de validation mis en œuvre de 2011 à 2014 dans l'intervalle de temps journalier et horaire confirme la bonne performance de la simulation dans le Var. La simulation MIKE SHE dans Var est l'une des parties principales du système de modélisation distribuée déterministe de l'EDSS d'AquaVar. Après l'étalonnage et la validation, le modèle pourrait être utilisé pour prévoir les impacts des événements météorologiques à venir (par exemple, des crues extrêmes) dans cette région et produire les conditions aux limites pour d'autres modèles distribués déterministes dans le système. La conception de l'architecture EDSS, la stratégie de modélisation et le processus d'évaluation de modélisation présentés dans cette recherche pourraient être appliqués comme un processus de travail standard pour résoudre les problèmes similaires dans d'autres régions. / Water resource is commonly considered as one of the most important natural resources in social development especially for supporting domestic, agricultural and industrial uses. During the last decade, due to the increase of human activities, such as urbanization and industrialization, the social impacts on the natural environment become more and more intensive. Therefore, recently, water problems compared to before become more complicated. To deal with the complex problem, since 1970s, started from the companies, people recognized that the Decision Support System (DSS) has obvious advantages Moreover, with the development of computer science and web techniques, the DSS are commonly applied for supporting the local decision makers to manage the region natural resources especially the water resources. The hydrological modelling in charge of representing the catchment characteristics plays significant role in the Environment Decision Support System (EDSS). Among different kinds of models, the deterministic distributed hydrological model is able to describe the real condition of the study area in more detail and accurate way. However, the only obstacle to limit the applications of this kind of model is pointed to the large data requirement requested by its modelling set up. In this study of hydrological modelling assessment in AquaVar project, one deterministic distributed model (MIKE SHE) is built for the whole Var catchment with less field information available in the area. Through one reasonable modelling strategy, several hypothesises are conceived to solve the missing data problems within daily and hourly time intervals. The simulation is calibrated in both daily and hourly time scale from 2008 to 2011, which contains one extreme flood event at 2011. Due to the impacts of missing data on both model inputs and observations, the evaluation of modelling calibration is not only based on the statistic coefficients such as Nash coefficient, but also effected by some physical factors (e.g. peak values and total discharge). The calibrated model is able to describe usual condition of Var hydrological system, and also represent the unusual phenomenon in the catchment such as flood and drought event. The validation process implemented from 2011 to 2014 within both daily and hourly time interval further proves the good performance of the simulation in Var. The MIKE SHE simulation in Var is one of the main parts of the deterministic distributed modelling system in the EDSS of AquaVar. After the calibration and validation, the model could be able to use for forecasting the impacts of coming meteorological events (e.g. extreme flood) in this region and producing the boundary conditions for other deterministic distributed models in the system. The design of the EDSS architecture, modelling strategy and modelling evaluation process presented in this research could be applied as one standard working process for solving the similar problems in other region.

Background: Almost all foals develop transient diarrhoea within the first weeks of life. Studies indicated different viral, bacterial, and parasitic causes, such as rotavirus, Clostridium perfringens, Escherichia coli, and Cryptosporidium are discussed. But little is known about the development of intestinal microflora in foals. The present study investigated whether the supplementation with Bacillus cereus var. toyoi would modify the developing intestinal microflora and consequently reduce diarrhoea in foals. From birth, the foals were randomly assigned to three treatment groups: placebo (10 mL isotonic NaCl, n = 8), low dosage (LD; 5 × 108 cfu B. cereus var. toyoi, n = 7) and high dosage (HD; 2 × 109 cfu B. cereus var. toyoi, n = 10). Treatment groups were supplemented orally once a day for 58 days. Faeces scoring and sampling were performed within the first 24 h after birth and on day 9, 16, 23, 30, 44, 58 of the foal’s life and also on the first day of diarrhoea. Culture-plate methods were used to analyse the bacterial microflora. Results: Eighty-eight per cent of the foals developed diarrhoea (placebo 7/8, LD 5/7, HD 10/10) during the first 58 days of life. Bacillus cereus var. toyoi supplementation had no effect on bacterial microflora. Clostridium perfringens and enterobacteria were equally prevalent in foals with diarrhoea and those who were not afflicted. Conclusions: We conclude that the supplementation of B. cereus var. toyoi had no effect on the occurrence of diarrhoea and health status in the foals.

Der zu den bedeutendsten Ektoparasiten des Schweines gehörende Erreger der Schweineräude, Sarcoptes scabiei var. suis, ist weltweit verbreitet und von wirtschaftlichen Interesse für Schweinezucht- und Mastbetriebe. Ziel dieser seroepidemiologischen Studie war die Gewinnung neuer Erkenntnisse über die Bestandsdynamik klinischer Räudeerscheinungen und dem Titerverlauf von IgG-Antikörpern gegen Sarcoptes scabiei var. suis im Serum von Sauen in Abhängigkeit vom Reproduktionszyklus (Trächtigkeit, Laktation, Besamung) und von Saugferkeln während der Säugeperiode sowie Aufzucht. Schlussfolgernd aufgrund der Ergebnisse dieser Studie eignen sich für die Kontrolle und Überwachung sowie Diagnostik der Sarcoptes-Räude von Beständen serologische Untersuchungen von Ferkeln bis zur zweiten Lebenswoche von räudeverdächtigen Sauen, „Jungsauen erster und zweiter Wurf“ sowie Sauen während der Trächtigkeit (vor allem letztes Drittel) und Deckeber. Eine Vorselektion auf räudeverdächtige Hautveränderungen sowie gesteigerte Kratzaktivitäten erhöht die Wahrscheinlichkeit serologisch positive Tiere zu identifizieren.

Since the financial crisis of 2008, the risk awareness has increased in the -financial sector. Companies are regulated with regards to risk exposure. These regulations are driven by the Basel Committee that formulates broad supervisory standards, guidelines and recommends statements of best practice in banking supervision. In these regulations companies are regulated with own funds requirements for market risks. This thesis constructs an internal model for risk management that, according to the "Capital Requirements Regulation" (CRR) respectively the "Fundamental Review of the Trading Book" (FRTB), computes the regulatory capital requirements for market risks. The capital requirements according to CRR and FRTB are compared to show how the suggested move to an expected shortfall (ES) based model in FRTB will affect the capital requirements. All computations are performed with data that have been provided from a power trading company to make the results fit reality. In the results, when comparing the risk capital requirements according to CRR and FRTB for a power portfolio with only linear assets, it shows that the risk capital is higher using the value-at-risk (VaR) based model. This study shows that the changes in risk capital mainly depend on the different methods of calculating the risk capital according to CRR and FRTB respectively and minor on the change of risk measure. / I samband med finanskrisen 2008 har riskmedvetenheten ökat i den finansiella sektorn. Företag regleras mot riskexponering av föreskrifter som drivs av Baselkommittén, de utformar tillsynsstandarder och riktlinjer samt rekommenderar åtgärder av bästa praxis. I dessa föreskrifter regleras företag av kapitalbaskrav mot marknadsrisker. I det här examensarbetet beskrivs processen för att ta fram en intern riskmodell, enligt "Capital Requirements Regulation"(CRR) respektive Fundamental Review of the Trading Book"(FRTB), för att beräkna de lagstadgade kapitalkraven mot marknadsrisker. Kapitalbaskraven enligt regelverken jämförs för att förstå hur det föreslagna bytet till en expected shortfall (ES) baserad modell i FRTB kommer att påverka kapitalbaskraven. I alla beräkningar anv änds data från ett elhandelsföretag för att göra resultaten mer intressanta och verklighetsanpassade. I resultatdelen, vid jämförelse av riskkapitalkraven enligt CRR och FRTB för en energiportfölj med endast linjära tillgångar kan det ses att riskkapitalet blir högre med en value-at-risk (VaR) baserad modell. Den viktigaste upptäckten med detta är att skillnaden i riskkapitalkraven inte främst beror på de olika riskmåtten utan snarare de olika metoderna för att beräkna riskkapitalet enligt CRR och FRTB.