The master thesis deals with european monetary integration. Its aim is to evaluate results of eurozone performance mainly for the first ten years of its existence. The thesis starts with short historical introduction, than continues by analysis OCA theory and Maastricht convergence criteria. The evaluation of effects, which eurozone brought to its members or candidates is made firstly from the point of view of monetary policy and than by confirming or refusing arguments for euro (non)adoption.

Cette thèse s’intéresse à l’option de création d’une union monétaire entre les trois pays du Maghreb, àsavoir l’Algérie, le Maroc et la Tunisie. Elle essaye de répondre aux interrogations suivantes : quelles sont lescaractéristiques des régimes monétaires des pays du Maghreb et comment leurs choix sont-ils justifiés ? Les structures et lesinstitutions de ces pays les rendent-ils éligibles à une union monétaire ? Quelles conséquences macroéconomiques ces payspourront-ils supporter s’ils décident de créer cette union ? Existe-t-il des régimes monétaires alternatifs plus appropriés leursfacilitant in fine la transition vers l’étape ultime de l’intégration monétaire ?Afin de répondre à ces questions, nous avons opté pour la présentation de quatre chapitres. Nous avons décritdans un premier chapitre les fondements théoriques de l’intégration monétaire à travers l’étude de la théorie desZones Monétaires Optimales (ZMO), ses développements, ses lacunes, ses prolongements et ses applicationsempiriques. Nous avons tenté dans un deuxième chapitre de spécifier les mécanismes structurels et institutionnelssusceptibles de garantir la viabilité du processus d’intégration monétaire et de faire recours à quelques expérienceshistoriques. Nous avons essayé dans un troisième chapitre de décrire les régimes monétaires pratiqués par lespays du Maghreb et d’expliquer l’origine de leur hétérogénéité avant d’expliciter les possibilités de création d’uneZMO en présence de cette hétérogénéité. Enfin, nous avons cherché dans un quatrième chapitre à évaluer lesconséquences de la création d’une union monétaire entre les trois pays. Nous avons aussi proposé les régimesmonétaires envisageables qui leur permettent in fine une transition réussie vers cette union monétaire.Nos principaux résultats montrent que la création d’une union monétaire -et son corollaire la mise en place d’unerègle monétaire commune- n’est pas bénéfique, surtout pour l’Algérie du fait que la variabilité de l’inflation et del’activité est beaucoup plus importante qu’au Maroc ou en Tunisie. D’autre part, il a été convenu quel’harmonisation des cibles d’inflation dans le cadre d’un taux de change quasi-flexible ou l’instauration simultanéed’une caisse d’émission pourraient être des régimes monétaires appropriés permettant à ces trois pays unetransition réussie vers l’unification monétaire. / This thesis focuses on the option of the launching of a monetary union across three Maghreb Countries, notablyAlgeria, Morocco and Tunisia. It tries to answer the following questions: What are the characteristics of monetaryregimes in the Maghreb Countries and what are the underlying factors for their choices? Do the countries’ structures andinstitutions constitute a favourable environment for the creation of a monetary union between these countries? What would bethe macroeconomic consequences for these countries if they decided to create a monetary union? Are there any alternativemonetary regimes which would enable them to move toward the final steps of monetary integration in a more appropriate way?In order to answer these questions, we opted for a presentation of four chapters. In a first chapter, we describedthe theoretical foundations of monetary integration through the study of Optimum Currency Area Theory (OCA),their theoretical developments, their drawbacks, their extensions and their empirical applications. We tried in asecond chapter to present the structural and institutional mechanisms that insure the viability of the monetaryintegration process and to recourse to some historical experiences. We attempted in a third chapter to describe themonetary regimes currently in use in the Maghreb Countries and to explain the origin of their heterogeneity beforeanalyzing the possibility of setting up an OCA in this context of heterogeneity. Finally, in a fourth chapter, weassessed the consequences of the creation of a monetary union across the three countries. We also suggest possiblemonetary regimes which, in fine, might allow these countries to successfully move toward monetary union.Our main results show that the creation of a monetary union –and its corollary the implementation of a commonmonetary rule- is not beneficial, especially for Algeria where the variability of inflation and activity is moreimportant than in Morocco and Tunisia. On the other hand, we came to the conclusion that the harmonization ofinflation targets within a quasi-flexible exchange rate or the simultaneous setting up of a currency board in thesecountries could represent an appropriate monetary regime which would allow a safe move to monetary union.

Orientador: Segundo Nilo Mestanza Muñoz / Dissertação (mestrado) - Universidade Federal do ABC. Programa de Pós-Graduação em Nanociências e Materiais Avançados, 2012

The goal of this diploma thesis is to assess the suitability and readiness of the Slovak Republic to adopt a single European currency. In analyzing the costs and benefits relating to Slovakia?s accession to the EMU, this thesis is guided by the theory of the OCA. The thesis provides a survey of the OCA theory, attempts to measure some of the OCA indicators and calculate OCA index for Slovakia. The results suggest that Slovakia fulfils the necessary condition for joining the monetary union, i.e. it is relatively well aligned with the euro area. The diploma thesis concludes that Slovakia is relatively suitable and well-prepared to join the euro area in 2009.

Tese de doutoramento. Engenharia Química e Biológica. Faculdade de Engenharia. Universidade do Porto. 2009

Made available in DSpace on 2016-08-17T18:39:40Z (GMT). No. of bitstreams: 1 3855.pdf: 4228860 bytes, checksum: d98f3c071d7a0193e713fbb5f00c1b41 (MD5) Previous issue date: 2011-08-25 / Universidade Federal de Sao Carlos / The mesenchymal stem cells (MSCs) are multipotent stem cells that can differentiate into various types of tissue, a characteristic that makes them interesting for applications in cell therapy. Moreover, cells are anchorage-dependent (ability to adhere to surfaces), easy isolation and rapid expansion in vitro. The traditional cultures of anchorage-dependent animal cells, usually grown in monolayers, resulting in low crop yield and cell recovery, preventing the use of MSCs in therapeutic applications. The need for alternative farming techniques for expansion of MSCs in a large scale have led researchers to the use of "bioreactor technology," which has been seconded from the bioreactor, spinner flask with microcarriers and hollow fiber (hollow fiber). The objective of this work was to develop a method of cultivation known as mesenchymal stem cell line hMSC-TERT in spinner flasks with microcarriers for subsequent inoculation into hollow-fiber bioreactor, aiming at the efficient expansion and the subsequent recovery of MSCs so that preserve their differentiation potential in order to be used in cell therapy. In cultured, we used the microcarrier Pronectin ® F 100 mL spinner flasks with culture medium α-MEM with 15% fetal calf serum, kept in a CO2 incubator at 37 ° C and pH between 7.2 and 7.4. In cultures in spinner flasks were adopted strategies such as supplementation of the culture medium, exchanges of culture medium during cultivation, addition of reagents to reduce clusters of microcarriers, to increase productivity for the subsequent cell inoculation in hollow fiber bioreactor. The use of these strategies has increased productivity cell, achieving a best result of cell multiplication factor (MCF) of 5.79. However, obtaining higher FMC was drastically limited by the formation of clusters of microcarriers in a gel matrix.The cell recovery was low maintenance and analysis of the antigenic phenotype by flow cytometry confirmed the conservation of phenotypic characteristics of hMSC-TERT. The hollow fiber bioreactor is an alternative to the clusters of microcarriers, it allows oxygenation and adequate supply of nutrients. Thus, in experiments carried out in hollow-fiber bioreactor used the α-MEM supplemented with 15% FBS (v / v), 2.0 g / L glucose, 2.50 mM glutamine, 2.60 mM arginine, 0.07% antifoam PPG. The cells were inoculated after 48 hours of cultivation in spinner flasks in a gel composed of collagen, hyaluronic acid, agar (1.5%) in the proportion 0.75: 0.037: 0.21 at pH 7.2 to 7.4 . Thus, the resulting gel was mixed with culture medium in α-MEM 1:3 ratio, to provide better grip on the fibers. The total expansion factor, ie the one calculated from the inoculation of the spinner to the end of cultivation in hollow fiber bioreactor was 11, 2, which can be considered the greatest value achieved in this work. It is clear that this expansion factor can still be easily overcome by adopting strategies to grow more frequent replacement of culture medium. This hypothesis is strengthened by the proven fact that the microcarriers are not yet saturated with cells at the end of the experiment. / As células-tronco mesenquimais (CTMs) são células-tronco multipotentes que podem se diferenciar em diversos tipos de tecido, característica que as torna interessantes em aplicações de terapia celular. Além disso, são células dependentes de ancoramento (capacidade de aderir em superfícies), de fácil isolamento e de rápida expansão in vitro. As culturas tradicionais de células animais dependentes de ancoramento, geralmente cultivadas em monocamadas, resultam em baixo rendimento de cultivo e de recuperação celular, inviabilizando o uso das CTMs em aplicações terapêuticas. A necessidade de técnicas de cultivo alternativas para expansão de CTMs em larga escala têm levado pesquisadores à utilização de tecnologia de biorreatores , na qual tem-se destacado dos biorreatores: frasco spinner com microcarregadores e hollow fiber (fibra oca). Assim, o objetivo deste trabalho foi o de desenvolver uma metodologia de cultivo da linhagem de CTM conhecida como hMSC-TERT em frasco spinner com microcarregadores para posterior inoculação em biorreator de fibraoca, visando a expansão eficiente e a posterior recuperação das CTMs de tal forma que, preservassem seu potencial de diferenciação para poderem ser utilizadas na terapia celular. Nos cultivos, utilizou-se o microcarregador Pronectin®F em frasco spinner de 100 mL com o meio de cultura α-MEM com 15% de soro fetal bovino, mantidos em incubadora de CO2 a 37ºC e pH entre 7,2 e 7,4. Nos cultivos em frasco spinner adotaram-se estratégias como suplementação do meio de cultura, trocas de meio de cultura durante o cultivo, adição de reagentes para diminuição de aglomerados de microcarregadores, visando aumentar a produtividade celular para a posterior inoculação em biorreator de fibra oca. A utilização dessas estratégias permitiram aumentar a produtividade celular, obtendo-se como melhor resultado um fator de multiplicação celular (FMC) de 5,79. Contudo, a obtenção de FMC maiores foi drasticamente limitada pela formação de aglomerados de microcarregadores num gel de matriz extracelular. A recuperação celular foi baixa e a análise da manutenção do fenótipo antigênico por citometria de fluxo comprovaram a conservação das características fenotípicas da hMSC-TERT. O biorreator de fibras ocas é uma alternativa em relação aos aglomerados de microcarregadores, pois permite a oxigenação e suprimento adequado de nutrientes. Sendo assim, nos experimentos realizados no biorreator de fibras-ocas utilizou-se o α-MEM suplementado com 15% SFB (v/v), 2,0 g/L de glicose, 2,50 mM de glutamina, 2,60 mM de arginina, 0,07 % do antiespumante PPG. As células foram inoculadas após 48 horas de cultivo em frasco spinner em um gel composto por colágeno: ácido hialurônico: ágar (1,5%) na proporção 0,75: 0,037: 0,21 em pH = 7,2-7,4. Assim, o gel resultante foi misturado com meio de cultura α-MEM na proporção 1:3, para proporcionar melhor aderência nas fibras. O fator de expansão total, ou seja, aquele calculado desde a inoculação do spinner até o final do cultivo no biorreator de fibra oca, foi de 11, 2, que pode ser considerado o maior valor atingido neste trabalho. Convém esclarecer que este fator de expansão ainda pode ser facilmente superado ao se adotarem estratégias de cultivo com trocas mais frequentes de meio de cultura. Esta hipótese é reforçada pelo fato comprovado de os microcarregadores ainda não estarem saturados de células no final do experimento.

Paper evaluates current status of the preparedness of the Czech economy for the currency Euro. It includes both aspects of the process, i.e. formal preparation and the real convergency. In the field of formal preparation the functioning of EMU is described, based on which current formal status of the czech EMU membership is assesed. The Maastricht criteria are considered part of the formal process as well. On the other hand, a range of real indicators, which are chosen based on various OCA resources is evaluated, giving the full picture of the current situation.

The goal of this diploma thesis is to assess the suitability and readiness of the Slovak Republic to adopt a single European currency. In analyzing the costs and benefits relating to Slovakia?s accession to the EMU, this thesis is guided by the theory of the OCA. The thesis provides a survey of the OCA theory, attempts to measure some of the OCA indicators and calculate OCA index for Slovakia. The results suggest that Slovakia fulfils the necessary condition for joining the monetary union, i.e. it is relatively well aligned with the euro area. The diploma thesis concludes that Slovakia is relatively suitable and well-prepared to join the euro area in 2009.

The goal of this diploma thesis is to examine whether the theory of Optimum Currency Area (OCA) confirms the view that the economies of southern and northern member states of the European Economic and Monetary Union (EMU) display different economic characteristics. The thesis strives to answer whether a hypothetical separation of current EMU into two separate monetary blocks makes sense from the perspective of the theory of OCA. First, the thesis examines the evolution of the theory of OCA with a special focus on suggested criteria and their usefulness for the analysis of hypothetical break-up of EMU. These criteria are subsequently divided into economic and political criteria and into centrally fulfilled and separately fulfilled criteria. The thesis then examines how the member states of the EMU cope with the proposed criteria.

This thesis operates with the Endogenous Optimum Currency Area theory. It tests the main assumption of the endogenous theory by applying correlation and regression analysis on selected EU Member States. It compares correlation of economic cycles of selected states with the Eurozone over time along with testing significance of particular correlation factors. The results note significant synchronization of economic cycles during the economic crisis of 2008 as well as important desynchronization after 2013. As far as correlation factors are concerned statistical significance of Bilateral Trade Intensity, Intra-Industry Trade and Fiscal Differences Index on correlation of economic cycles is confirmed. However, the endogenous OCA hypothesis could not be unambiguously confirmed due to important European synchronization trend throughout the economic crisis that impacted large part of the results. Based on significant synchronization of European economies during economic crisis application of common monetary policy during this period can be recommended.