stract Abstract The aim of this thesis is to compare the responses of the two largest economies in the world - the U.S. and the EU -- to economic, debt and financial crisis that began in 2007 on U.S. mortgage markets, respectively, confirm or disprove the hypothesis that the United States deal with the crisis better. For this purpose the thesis describes the causes and consequences of the crisis on which was applied measures at EU level and at the level of the USA. The list of these measures is also presented in the thesis. To decide whether the hypothesis is correct or not is at the thesis analyzed the impact of the measures implemented to both economics. This analysis is based on monitoring the development of statistical indicators of major macroeconomic aggregates - especially the GDP, unemployment and public debt, and quantification of bailouts for the financial sector. Based on the above analysis, the present work confirmed the hypothesis.

The master thesis deals with macroprudential policy and its application in the US. The thesis is mainly focused on the large reform of the financial market in the US known as Dodd-Frank Wall Street Reform and Consumer Protection Act. The main objective of the thesis is to analyse the impact of this act on the financial market in the US. The thesis is divided into four chapters, which are logically connected. The first chapter describes the institutional structure of the regulation and supervision over the financial market in the US, with the emphasis on the organisational structure of FED. The second chapter deals with macroprudential policy from the theoretical point of view with the focus on the tools of the policy and its interaction with other policies. It also covers the incentives which lead into putting this policy into practice. The third chapter focuses on the causes of the financial crisis and particularly on the response to the crisis in the form of Dodd-Frank Act. The final chapter analyses the impact of particular measures contained in Dodd-Frank Act on the US financial market. Analysing this the thesis concludes whether these measure were successful from the perspective of objectives that Dodd-Frank Act wanted to meet.

This thesis comprehensively summarizes the global financial crisis. Its main causes consist of government support for home ownership, artificially set interest rates, and the conduct of economic actors in the context of financial innovation. Thus, this thesis considers external interventions into the economy as the primary causes of the crisis. Furthermore, chronologically summarized are the steps taken by the Federal Reserve System (Fed) and the European Central Bank (ECB) during the crisis itself. In a short period of time, these central banks exhausted the standard tools of monetary policy, which led to the use of unconventional measures. The Fed mainly used quantitative easing, while the ECB used a set of various tools available to help solve problems on multiple fronts - especially the debt crisis in the Eurozone countries. With the exception of a description of the chain of events leading to the financial and economic crisis, the main contribution of this thesis lies in mediation and confrontation of views by selected economists from various spectrum of opinions in regards to the steps of the Fed and the ECB in their solutions to the crisis. This discussion reveals that the biggest concerns associated with these interventions consist of price bubbles, inflation, distortion in market mechanisms, Europe's unsustainable integration at the monetary level, and the inexorable rise of the another crisis caused by the failure to solve the real causes of the last crisis. Finally, the opinions of the author of this thesis match with the conclusions and recommendations that arise from this discussion.

The thesis analysis the primary causes of the Great Depression and Great Recession in the US. The author is looking for common signs of these crisis with special attention to monetary policy, which is considered as a crucial. The author aims to analyze economic and political measures that accompanied the crisis. The first part deals with the Fed policy including its origin, the roaring twenties, the stock Exchange crash, anti-crisis economical and political measures during the crisis and there is also written about the theoretical interpretation of the different schools of economics. The second part deals with causes of Great Recession, the government sponsored enterprises, the housing bubble or federal emergency programs. Further, it discussed the credit expansion and the Fed´s policy and in the end the author offers an comparison of both crisis and presents his own view on the issue.

Modern 'more-electric' aircraft demand increased levels of electrical power as non-propulsive power systems are replaced with electrical equivalents. This electrical power is provided by electrical generators, driven via a mechanical transmission system, from a rotating spool in the gas turbine core. A wide range of electrical loads exist throughout the aircraft, which may be pulsating and high powered, and this electrical power demand is transferred though the generators to produce a torque load on the drivetrain. The mechanical components of the drivetrain are designed for minimum mass and so are susceptible to fatigue, therefore the electrical loading existing on modern airframes may induce fatigue in key mechanical components and excite system resonances in both mechanical and electrical domains. This electro-mechanical interaction could lead to a reduced lifespan for mechanical components and electrical network instability.This project investigates electro-mechanical interaction in the electrical power offtake from large diameter aero gas turbines. High fidelity modelling of the drivetrain, and generator, allow the prediction of system resonances for a generic gas turbine-generator system. A Doubly-Fed Induction Generator (DFIG) is considered and modelled. DFIGs offer opportunities due to their fast dynamics and their ability to decouple electrical and mechanical frequencies (e.g. enabling a constant frequency electrical system with a variable speed mechanical drive). A test platform is produced which is representative of a large diameter gas turbine and reproduces the electro-mechanical system behaviour. The test platform is scaled with respect to speed and power but maintains realistic sizing between component dimensions which include: a gas turbine mechanical spool emulation, transmission driveshafts and gearbox, and accessory loads such as a generator. This test platform is used to validate theoretical understanding and suggest alternative mechanical configurations, and generator control schemes, for the mitigation of electro-mechanical interaction.The novel use of a DFIG and an understanding of electro-mechanical interaction allow future aircraft designs to benefit from the increased electrification of systems by ensuring that sufficient electrical power can be provided by a robust gas turbine-generator system.

The master thesis analyzes "quantitative easing" policy in the USA which is very controversial. Quantitative easing influences a liquidity of the bank system and has different impact on economic variables. The relationship between growth of total reserves and economic variables is analyzed during 9/2008 - 3/2012 by Eviews program. The conclusion is that impact of quantitative easing policy on economic variables has been different in comparison with former assumptions.

This thesis focuses on solving financial crisis throught foreign exchange swaps. Facilities, which provided help to Banks around the world called swap lines. These facilities introduced U.S. Federal Reserve (Fed) in late 2007. The swap lines were one of the many liquidity programs that Fed conducted in order to provide liquidity to the global banking system. Using indicator 3M Libor -- OIS spread, which informs about the problems in the interbank markets, is studied the impact of these swap facilities to the global banking system. It was found, that impact of swap lines were positive, but not because of announcement effect. Swap lines had positive impact only after an enormous increase in the volume of U.S. dollars in transactions. In other part of thesis is estimated revenue and expenses for the Fed. Revenues are campared with the data in the annual report. Revenues are estimated as a sum of all the interest payments in all banks, which dollars from the swap lines "spilled" into their jurisdictions. Costs are estimated as a opportunity costs.

Slot dipole antennas fed by coplanar waveguide (CPW) on substrates consisting of a single dielectric layer exhibit various attractive qualities, including significantly wider impedance bandwidth than comparable microstrip patch antennas. For applications that call for unidirectional radiation, such as antennas on airframes, a conducting back plane is needed. A CPW on a conductor-backed single-dielectric-layer substrate will always experience power leakage into the TEM parallel-plate mode. On the other hand, it is possible to design CPW lines on conductor-backed two-layer substrates that are free from leakage into the substrate. However, once the CPW is used as feed line to a slot dipole, power leakage into the TM0 substrate mode caused by the transition between the CPW and the radiating slot, and by the radiating slot itself, may still severely compromise radiation efficiency. This study has two main contributions to offer. First, a paucity of work on CPW-fed slot antennas on conductor-backed two-layer substrates is alleviated by providing a fuller characterization of single-slot behaviour on two-layer parallel-plate substrates than is currently available, and by systematically investigating a practically feasible minimum antenna configuration, namely broadside twin slots, that is not debilitated by the problem of substrate mode leakage. Results obtained with the moment-method-based electromagnetic simulator IE3D that emphasize the trade-off between radiation efficiency and impedance bandwidth are presented; they can be used for design purposes. For instance, with respect to single slots on a substrate with an electrically thin top dielectric layer and an air bottom layer, it is shown that radiation efficiency increases and bandwidth decreases as height of the bottom substrate layer increases. For broadside twin slots, it is demonstrated that spacing close to half a wavelength of the two-layer parallel-plate TM0 mode apart can yield a large improvement in radiation efficiency over that of a single slot (a reduction in bandwidth however occurs). The second main contribution is the development of an approach for finding the mutual admittance Y12 between CPW-fed slots on conductor-backed two-layer substrates that can be more readily incorporated in an iterative array design procedure than a moment-method-based technique, yet is of comparable accuracy; it is built on a standard reciprocity-based expression. As an initial step, the mutual admittance between CPW-fed slots on a conductor-backed two-layer substrate with an air bottom layer is characterized using IE3D. This involves presenting curves for Y12 between twin slots against slot separation d along standard paths for slot half-lengths in the vicinities of the first and second resonant half-lengths of the corresponding isolated slots (such data might be used towards a first-order array design), and a study of the effect of back plane distance (i.e., bottom layer height) on mutual coupling. The bulk of the thesis however is devoted to the above reciprocity-expression approach. Simplifying assumptions are outlined that make it possible to determine Y12 against d by performing a once-only moment-method analysis of each slot in isolation, and then calculating external and internal reaction integrals at each value of d. This is significantly more economical than carrying out a full moment-method analysis of the whole twin-slot structure at every instance of d. Evaluation of the internal reaction integral requires the appropriate component of the spatial-domain Green’s function for the substrate, which is derived in a form containing Sommerfeld-type integrals; treatment of singularities is discussed. The reciprocity-expression approach is verified by comparing Y12 against d curves for twin slots and non-identical slot pairs on a variety of conductor-backed two-layer substrates to IE3D simulations. A procedure that involves judicious selection of reference planes is introduced by which agreement between the methods for the special case of twin slots with the same half-length as the corresponding isolated second-resonant slot can be even further improved. A measurement is provided that validate theoretical calculations. / Thesis (PhD)--University of Pretoria, 2008. / Electrical, Electronic and Computer Engineering / unrestricted

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Legal and economic aspects of the institute of the lender of last resort Abstract The master thesis deals with the legal and economic aspects of the institute of the lender of last resort, as a key institute that helps ensure the stability of financial markets. The thesis is divided into four parts. The first part is focused on the economic aspects of this institute, especially deals with the general definition of the term lender of last resort and its historical genesis, as well as the principles and forms of assistance of the lender of last resort. The key knowledge of this part is the Thornton-Bagehot doctrine of the lender of last resort. The second part of the thesis deals with the legal regulation of the lender of last resort in the Czech Republic. The third part is aimed at relevant European legislation and provides a summary of the relevant case law of the Court of Justice of the European Union, namely the cases Pringle, Gauweiler and Weiss. The fourth and final part of the thesis outlines the legal framework of this institute in the USA. The second to fourth part of the thesis also analyzes the behavior of 3 central banks (CNB, ECB and FED) in fulfilling the role of lender of last resort during the global financial crisis of 2008, the European debt crisis and the current coronavirus crisis,...