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Monetary policy and the ECB / Měnová politika a ECBStrejc, Daniel January 2008 (has links)
The thesis evaluates the ECB's monetary policy during the past decade by using policy rules and compares the suitability to particular members of the Eurozone. It examines the central bank's reaction function regarding the output and inflation. The work is divided into two main parts. First, gives the theoretical introduction of monetary policy and evaluation of the Eurozone regarding the theory of optimal currency area. In the second part it provides the econometric models and estimates. As a conclusion the results of two different OLS models show that, we cannot precisely decide to which variable the ECB reacted, as obtained two statistically significant models but with different results. For two models is used different variables GDP gap and IPI gap. The results have also shown that the ECB's monetary policy mostly suits to biggest economies within the Eurozone.
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Securing data dissemination in vehicular ad hoc networksAldabbas, Hamza January 2012 (has links)
Vehicular ad hoc networks (VANETs) are a subclass of mobile ad hoc networks (MANETs) in which the mobile nodes are vehicles; these vehicles are autonomous systems connected by wireless communication on a peer-to-peer basis. They are self-organized, self-configured and self-controlled infrastructure-less networks. This kind of network has the advantage of being able to be set-up and deployed anywhere and anytime because it has no infrastructure set-up and no central administration. Distributing information between these vehicles over long ranges in such networks, however, is a very challenging task, since sharing information always has a risk attached to it especially when the information is confidential. The disclosure of such information to anyone else other than the intended parties could be extremely damaging, particularly in military applications where controlling the dissemination of messages is essential. This thesis therefore provides a review of the issue of security in VANET and MANET; it also surveys existing solutions for dissemination control. It highlights a particular area not adequately addressed until now: controlling information flow in VANETs. This thesis contributes a policy-based framework to control the dissemination of messages communicated between nodes in order to ensure that message remains confidential not only during transmission, but also after it has been communicated to another peer, and to keep the message contents private to an originator-defined subset of nodes in the VANET. This thesis presents a novel framework to control data dissemination in vehicle ad hoc networks in which policies are attached to messages as they are sent between peers. This is done by automatically attaching policies along with messages to specify how the information can be used by the receiver, so as to prevent disclosure of the messages other than consistent with the requirements of the originator. These requirements are represented as a set of policy rules that explicitly instructs recipients how the information contained in messages can be disseminated to other nodes in order to avoid unintended disclosure. This thesis describes the data dissemination policy language used in this work; and further describes the policy rules in order to be a suitable and understandable language for the framework to ensure the confidentiality requirement of the originator. This thesis also contributes a policy conflict resolution that allows the originator to be asked for up-to-date policies and preferences. The framework was evaluated using the Network Simulator (NS-2) to provide and check whether the privacy and confidentiality of the originators’ messages were met. A policy-based agent protocol and a new packet structure were implemented in this work to manage and enforce the policies attached to packets at every node in the VANET. Some case studies are presented in this thesis to show how data dissemination can be controlled based on the policy of the originator. The results of these case studies show the feasibility of our research to control the data dissemination between nodes in VANETs. NS-2 is also used to test the performance of the proposed policy-based agent protocol and demonstrate its effectiveness using various network performance metrics (average delay and overhead).
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Stabilité macroéconomique, apprentissage et politique monétaire : une approche comparative : modélisation DSGE versus modélisation multi-agents / Macroeconomic stability, learning and monetary policy : a comparative approach : DSGE modelling versus agent-based modellingZumpe, Martin Kai 14 September 2012 (has links)
Cette thèse analyse le rôle de l’apprentissage dans deux cadres de modélisation distincts. Dans le cas dunouveau modèle canonique avec apprentissage adaptatif, les caractéristiques les plus marquantes des dynamiquesd’apprentissage concernent la capacité des règles de politique monétaire à assurer la convergencevers l’équilibre en anticipations rationnelles. Le mécanisme de transmission de la politique monétaire estcelui de l’effet de substitution associé au canal de la consommation. Dans le cas d’un modèle multi-agentsqui relâche des hypothèses restrictives du nouveau modèle canonique, tout en restant structurellementproche de celui-ci, les variables agrégées évoluent à bonne distance de cet équilibre, et on observe desdynamiques nettement différentes. La politique monétaire influence les variables agrégées de manièremarginale via l’effet de revenu du canal de la consommation. En présence d’un processus d’apprentissagesocial évolutionnaire, l’économie converge vers un faible niveau d’activité économique. L’introductiond’un processus caractérisé par le fait que les agents apprennent individuellement à l’aide de leurs modèlesmentaux atténue le caractère dépressif des dynamiques d’apprentissage. Ces différences entre les deuxcadres de modélisation démontrent la difficulté de généraliser les résultats du nouveau modèle canonique. / This thesis analyses the role of learning in two different modelling frameworks. In the new canonicalmodel with adaptive learning, the most remarkable characteristics of the learning dynamics deal withthe capacity of monetary policy rules to guaranty convergence to the rational expectations equilibrium.The transmission mechanism of the monetary policy is based on the substitution effect associated to theconsumption channel. In the case of an agent-based model which relaxes some restrictive assumptionsof the new canonical model - but is endowed with a similar structure - aggregate variables evolve atsome distance from the rational expectations equilibrium. Monetary policy has a marginal impact onthe agregated variables via the wealth effect of the consumption channel. When agents learn accordingto an evolutionnary social learning process, the economy converges to regions of low economic activity.The introduction of a process where agents learn individually by using their mental models induces lessdepressive learning dynamics. These differences between the two modelling frameworks show that thegeneralisation of the results of the new canonical model is not easy to achieve.
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