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Les législations concernant les marchés financiers en France et aux Etats-Unis - Approche comparée / The legislation concerning financial markets in France and in the United States - Comparative approachShen, Jun 01 February 2012 (has links)
Les législations concernant les marchés financiers régissent non seulement les marchés, mais également les acteurs, les produits ainsi que les activités dans les marchés. En utilisant ces outils juridiques indispensables, les législateurs des deux côtés de l'Atlantique visent, entre autres, à protéger les investisseurs dont la confiance est primordiale pour les marchés, d'une part, et à diminuer les risques systémiques dont le déclenchement pourrait survenir dans un contexte financier de plus en plus globalisé, d'autre part. En effet, après la crise financière globale de 2008, les risques systémiques ont attiré davantage l'attention législative. À partir desdits objectifs que les législateurs veulent atteindre, nous essayons de trouver et analyser les particularités des législations concernées, tant en France ou dans l'Union européenne qu'aux États-Unis, en passant par la comparaison des dispositions législatives ou des initiatives législatives à travers l'Atlantique, avec la considération de l'évolution législative respective. Nous apportons aussi nos réflexions sur les insuffisances ou les déficiences à l’égard de mesures ou d’efforts législatifs pris en compte par les législateurs transatlantiques en vue de réaliser ces objectifs. Face à une crise financière sans précédent à nos jours, et donc à l'exigence d'une réaction législative active, appropriée, opportune et raffinée, il nous semble qu’il est le temps pour les législateurs en France, dans l'Union et aux États-Unis d'approfondir leurs connaissances sur des produits financiers en innovation sans cesse, de mieux adapter leurs stratégies législatives aux développement des activités financières et des entités finiancières, et de renforcer leurs coopérations et coordinations en profondeur dans le domaine de réglementation et supervision financière, et enfin, de mieux réaliser leurs buts poursuivis. / The legislations concerning financial markets govern not only the markets, but also the participants, the products and the activities as well in the markets. By using these indispensable legal tools, the legislators of both sides of Atlantic aim at, among others, protecting the investors whose confidence is of top priority to the markets, on the one hand, and reducing the systemic risk which would occur in a more and more globalised financial context, on the other. Indeed, after the global financial crisis of 2008, systemic risk has drawn more legislative attention. From the abovementioned objectives which the legislators would like to achieve, we try to find and analyze the particularity of the legislation concerned, both in France or in the European Union and in the USA, by way of comparison of legislative dispositions or legislative initiatives across the Atlantic, with the consideration about their respective legislative evolution. We also give our reflections on the insufficiencies or the deficiencies with regard to the legislative measures or efforts taken by the transatlantic legislators to realize those objectives. Facing the actual and unprecedented financial crisis, and thus a requirement of dynamic, appropriate, timely and refined legislative reaction, it seems to us that it is the time for legislators in France, in the EU and in the USA to deepen their knowledge about financial products of non-stop innovation, to better adapt their legislative strategies to the development of financial activities and financial entities, to reinforce their cooperation and coordination in depth and in width in the field of financial regulation and supervision, and finally, to better fulfill their pursuing goals.
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Avaliação da segurança da operação de sistemas elétricos de potência considerando os limites de estabilidade angular e de tensão / Operation security assessment of electric power systems by considering the angle and voltage stability limitsMariotto, Lenois 22 February 2008 (has links)
This work presents new analytical and computational methods for operation security assessment of electric power systems by considering Angle and Voltage Stability Limits. In the context of Angle Stability, it was developed a method for estimating transient security margins based on equivalent network reduction techniques and coherent generators. The angle speed deviation was the criterion used to identify generators that swing together. The reduced order was accomplished by replacing two clusters of coherent generators by an One-Machine Infinite Bus equivalent system. With this equivalent, critical fault clearing times and security margins are calculated with the aid of the Equal Area Criterion. The results were in a good agreement when compared with others methods, especially those based on Transient Energy Function used as a Lyapunov function. The method was also applied for estimating security margins and critical fault clearing times of power systems in the presence of wind power generation. It was demonstrated that the proposed method can be used to select critical contingencies, where detailed power system models are needed such that it can reproduce the actual behavior of the system. With respect to Voltage Stability, it was developed an analytical and computational method for steady state voltage stability analysis on a P-Q plane. First of all, it was applied on a simple two-bus power system, and the analytical and computational results were compared. Then, a Voltage Stability Index was derived, in order to obtain the security margins of each bus for any operational state of an n-bus power system. It was carried out by using a power
system reduction technique. With the Voltage Stability Index, it is possible to identify critical buses and the regions that are prone to voltage collapse. The voltage stability limits of a distribution power system was also analyzed by means of the P-Q curves, by considering different operation scenarios of wind power generation. It was demonstrated that the wind power can contribute to improve the voltage security margins. Finally, the method was applied to a real power system of Companhia Estadual de Distribuição de Energia Elétrica, in the presence of wind power generation. The methods are computationally efficient and suitable for planning, operation and real-time operation of electric power systems. / Este trabalho apresenta novos métodos analíticos e computacionais para a avaliação da segurança da operação de sistemas elétricos de potência considerando os Limites de Estabilidade Angular e de Tensão. No tema Estabilidade Angular, desenvolveu-se um método para a estimativa de
margens de segurança transitória baseado em técnicas de redução de redes e geradores coerentes. O desvio de velocidade angular foi o critério usado para identificar geradores que oscilam juntos. A redução foi realizada substituindo-se dois grupos de geradores coerentes por um sistema Equivalente Máquina-Barra Infinita. Com este equivalente, os tempos críticos de abertura de falta e as margens de segurança são calculados com auxílio do Critério das Áreas Iguais. Os resultados encontrados foram
muito satisfatórios quando comparados com aqueles obtidos por outros métodos, especialmente os que utilizam a função energia como função de Lyapunov. O método também foi aplicado para a estimativa de margens de segurança e tempos críticos de abertura de falta, em sistemas de potência na presença de geração eólica. Foi demonstrado que o método proposto é capaz de selecionar contingências críticas que precisam ser estudadas com modelos completos de modo a reproduzir o comportamento real do sistema elétrico. Com relação à Estabilidade Tensão, foi desenvolvido um método analítico e computacional para análise de estabilidade estática de tensão no plano P-Q. Primeiramente, o método foi aplicado em um sistema de potência simples com duas barras, e os resultados analíticos e computacionais foram comparados. Então, um Índice de Estabilidade de Tensão foi deduzido, para
determinar a margem de segurança de cada barra para qualquer estado de operação de um sistema de potência com n-barras. Com o Índice de Estabilidade de Tensão, é possível identificar barras críticas e regiões com tendência ao colapso de tensão. Os limites de estabilidade de tensão de um sistema de distribuição foram analisados através das curvas P-Q , no qual foram considerados diferentes cenários de operação da geração eólica. Deste modo, foi demonstrado que a geração eólica pode contribuir para melhorar as margens de segurança de tensão. Finalmente, o método foi aplicado em um sistema de potência real pertencente à Companhia Estadual de Distribuição de Energia Elétrica. Os métodos desenvolvidos são computacionalmente eficientes e adequados para o planejamento da expansão e operação, bem como na operação em tempo real dos sistemas elétricos de potência.
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Hospodářská politika USA a Německa v letech 1933 - 1939 / Economic Policy in the USA and Germany 1933–1939Johnson, Zdenka January 2017 (has links)
The dissertation provides an analysis, evaluation, and comparison of selected areas of economic policy in the United States of America and Germany from 1933 to 1939 within the context of the 1920s, the Great Depression, and the Second World War. Based on a thorough analysis of the determined objectives, tools, the intended and unintended impacts of their fiscal policies, monetary policies, and foreign-trade policies, the dissertation thesis aims to verify the basic hypothesis that the United States and German economic policies were largely similar as responding to similar issues that both advanced economies had to face. During the verification process, the author relies mainly on the genuine processing and analysis of original statistical sources. In the individual chapters of the dissertation both identical, and also different features in selected types of economic policies are presented. On the basis of a comparison of the main economic-policies trends, despite some differences in the partial characteristics of chosen economic policy types, it can be concluded that economic policies of the central governments of Germany and the United States of America were similar in surprisingly many respects.
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Du paysage à la population : impacts des changements d’usages et de la restauration face à la colonisation d’une espèce envahissante (Rubus ulmifolius Schott.) dans un écosystème sub-steppique méditerranéen / From landscape to population : impacts of land-use changes and restoration in regards to the colonization of an encroaching species (Rubus ulmifolius Schott.) in a Mediterranean sub-steppic ecosystemMasson, Solène 10 December 2014 (has links)
Etudier un phénomène écologique requiert de le considérer dans sa globalité afin d’appréhender l’ensemble de ses causes et ses conséquences. Dans la plaine de la Crau, écosystème pseudo-steppique du sud est de la France, la fragmentation des habitats, la perte de biodiversité et les changements d’usage ont favorisé l’envahissement de fragments relictuels de steppe par Rubus ulmifolius Schott. Par une approche multiscalaire, les objectifs de cette thèse sont de mettre en évidence les facteurs responsables de cet envahissement, d’appréhender ses conséquences sur la communauté végétale et de tester d’éventuelles techniques de restauration écologique en évaluant leurs effets à l’échelle de la communauté et de la population de ronces. La présence de fortes proportions de zones irriguées et de parcelles anciennement cultivées dans la matrice paysagère proche des zones envahies correspond à des taux de recouvrements parcellaires en ronciers plus élevés. A l’échelle de la communauté végétale, les infiltrations hydriques ont également des effets importants sur la végétation steppique en permettant le développement d’une espèce herbacée compétitrice : Brachypodium phoenicoïdes (L.) Roem. & Schult. Aucun des différents régimes de perturbation (débroussaillage et/ou pâturage) testés, croisés au drainage ou non du sol ne permet de restaurer à court terme (trois années) l’intégrité de la steppe de référence. Seule une augmentation significative de la richesse et de la diversité spécifique est mesurée dans le cas d’un débroussaillage et d’un pâturage annuel des placettes. A l’échelle des ronces, les effets des différents traitements varient selon l’année, la saison ou la période de la journée considérée. Les régimes de perturbation (débroussaillage et/ou pâturage) ont cependant plus d'influence sur les traits éco-physiologiques et morphologiques de la ronce que la limitation des ressources en eau. Nos résultats soulignent ainsi la difficulté de contrôler à court terme la dynamique d’une espèce envahissante. Ils ouvrent également le débat sur les objectifs de conservation et/ou de restauration des parcelles qui peuvent alors être considérées comme des écosystèmes dégradés ou comme de « nouveaux écosystèmes » dont les potentiels patrimoniaux sont encore inconnus. / Studying an ecological phenomenon require to consider it in its entirety in order to apprehend all the causes and consequences. In the Plain of La Crau, a sub-steppic ecosystem in southeastern France, habitat fragmentation, loss of biodiversity and land-uses changes have fostered the encroachment by a species of brambles Rubus ulmifolius Schott of the original steppic patches. Using a multiscale analysis, the aims of the thesis are to highlight the main drivers, to assess the consequences on the plant community and to test restoration techniques by evaluating their effects on plant community and on bramble population. The presence of high proportions of irrigated habitats and formely fallows around invaded plots correspond to the largest cover rates of brambles. At community scale, water infiltrations have also a great impact on the steppe plant community by favoring the dynamic of an herbaceous competitor species: Brachypodium phoenicoïdes (L.) Roem. & Schult. Among the different disturbance regimes tested (scrub-clearing and / or grazing), crossed with the presence or the absence of sol draining, none could restore in the short-term (3 years), the integrity of the steppe reference. A significant increase in species richness and diversity was only measured for drained, scrub-cleared and annually grazed plots. At bramble population scale, the effects of the different treatments change depending on the year, the season and the time of the day. However, disturbance regimes (clearing and / or grazing) have more impact on eco-physiological and morphological traits of the bramble than the water resources limitation. Our results highlight the difficulty controlling short-term dynamics of an invasive species. They question the objectives of conservation and / or restoration of plots which can then be considered as degraded ecosystems or as "novel ecosystems" whose potential patrimonial values are still unknown.
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Římské lázně a saunový svět. / Roman spa - sauna worldLíznarová, Gabriela January 2013 (has links)
The theme of dissertation is to create the architectural study of a Roman bath and sauna World. Spa are part of a complex aqvapark. There is a defined a part of the aqvapark. Dedicated to recreation and clearing the body. I propose a new open space, allowing penetration of light and air. THe area comprising the impression of kontinuity and at the same time the idea of intimacy. Using simple geometric forms allows capturing the important principles of operation.
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Betesrestaureringens effekter på växtartrikedom och biologisk mångfald : -restaurering av betesmark på Hallands Väderö / Effects of grassland restoration on plant species richness and biodiversity : -pasture restoration on Hallands VäderöYlva, Rolfsdotter Söderberg January 2024 (has links)
Abstract Pasture is a very species-rich but threatened nature type, and compared to 200 years ago, only five percent of natural pastures remain in Sweden. One way to try to save the biological diversity that pastures harbor is to restore overgrown land by clearing and reintroducing grazing animals. At the site chosen for this study, Hallands Väderö, 92 ha of pasture have been restored during less than ten years. The purpose of this thesis is to compare species richness in vegetation on recently restored land (cleared 2-10 years ago), land that has been grazed continuously for a long time and overgrown pasture, and to investigate whether the number of plant species increases with time after a pasture restoration. Thirteen locations on the island were selected, and three randomly selected square meter squares per area were inventoried. Each area was then searched for more species that were not present in the random squares. The data underwent analysis using regression analysis, ANOVA and Tukey test. Results indicated no significant relationship between the number of species in an area and the time (years) after a restoration. The Tukey test indicated that the biological diversity (effective number of species) was statistically significant higher on continuously grazed areas than on overgrown areas and that the number of species was statistically significant higher on restored areas than on overgrown areas. This means that there is an effect of the management; the number of species increases after grazing restoration, and biodiversity is higher on continuously grazed land than on overgrown land. The fact that the overgrown pasture has the lowest number of species shows that we risk losing species if pastures are abandoned and overgrown. / Sammanfattning Betesmark är en väldigt artrik men hotad naturtyp och jämfört med för 200 år sedan finns endast fem procent av naturbetesmarkerna i Sverige kvar. Ett sätt att försöka bibehålla den biologiska mångfalden, som betesmark hyser, är att restaurera igenväxt mark genom röjning och återintroduktion av betesdjur. På den valda platsen för denna studie, Hallands Väderö, har 92 ha mark betesrestaurerats under knappt tio års tid. Syftet med detta examensarbete är att jämföra artrikedom i växtligheten på nyligen restaurerad mark (röjd för 2–10 år sedan), mark som betats kontinuerligt under lång tid och igenväxt betesmark samt att undersöka om antalet växtarter ökar med tiden efter en betesrestaurering. Tretton platser på ön valdes ut och tre slumpvis valda kvadratmeterstora rutor per område inventerades. Varje område genomsöktes sedan efter fler arter som inte fanns i de slumpade rutorna. Datan analyserades med regressionsanalys, ANOVA och Tukey-test. Resultatet visade att det inte fanns något signifikant samband mellan antal arter på ett område och tiden (år) efter en restaurering. Tukey-testet visade att den biologiska mångfalden (effektivt artantal) var statistiskt signifikant högre på kontinuerligt betade områden än igenväxta områden och att antal arter är statistiskt signifikant fler på restaurerade områden än igenväxta områden. Detta betyder att det finns en effekt av skötseln; antal arter ökar efter en betesrestaurering och den biologiska mångfalden är högre på kontinuerligt betad mark än igenväxt mark. Att den igenväxta betesmarken har lägst antal arter visar på att vi riskerar att förlora arter om betesmarker överges och växer igen.
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Systemic risk in financial economic institutions / Risques systémiques au niveau des institutions économiques et financièresMokbel, Rita 25 November 2016 (has links)
Les crises financières et les problèmes se formaient mais les indicateurs ne sont pas précis pour permettre une intervention réglementaire. La thèse propose un modèle dynamique pour le système bancaire avec une banque centrale afin de calculer un indicateur de faillite en fonction de la probabilité qu'une banque soit en faillite et les pertes rencontrées dans le réseau financier, une méthodologie qui peut améliorer la mesure, le suivi et la gestion du risque systémique.La thèse propose également des mécanismes de compensation : 1- avec un modèle considérant l'ancienneté du passif et avec un type d'actif liquide dont la vente excessive conduit à un impact sur le marché, 2 - avec un modèle considérant les participations croisées entres les banques dont les engagements interbancaires sont de différentes séniorités et avec un type d'actif liquide dont la vente excessive conduit à un impact sur le marché. / Financial crisis pose important theoretical problems on creating reliable indicator of stability of financial systems on which basis the regulators could intervene. The thesis proposes a dynamic model of banking system were the central bank can calculate an indicator of potential defaults taking into consideration the probability for a bank to default and the losses encountered in the financial network, a methodology that can improve the measurement, monitoring, and the management of the systemic risk. The thesis also suggests a clearing mechanisms : 1- in a model with seniority of liabilities and one type of liquid asset whose fire sale has a market impact, 2 - in a model with crossholdings among the banks whose interbank liabilities may be senior and junior and with one liquid asset whose firing sale has a market impact.
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