Cette thèse analyse les déterminants à partir desquels les pays et les régions adaptent leurs portefeuilles des exportations en présence d’une intensification conjointe des flux des échanges mondiaux et de la concurrence internationale. Dans le contexte inédit de la mondialisation actuelle, l’émergence de nouveaux compétiteurs et leur capacité à se repositionner sur des gammes sophistiquées de produits induit une restructuration du marché mondial, une intensification de la pression concurrentielle et une interdépendance croissante des uns les autres. Bien que les pays développés occupent une place éminente dans le commerce, ils sont défiés par ceux émergents. Ceci nous conduit à discuter le repositionnement des portefeuilles des exportations soumis aux nouveaux défis de la mondialisation. Le premier chapitre recense les discussions des années 1980 à nos jours en matière de compétitivité et de sources de performances à l’exportation des pays. Le deuxième chapitre étudie l’effet de la pression concurrentielle internationale sur la modification de la composition du portefeuille des exportations françaises. Le troisième chapitre étudie l’effet des réseaux de parenté entre les produits sur la diversification des exportations des entreprises françaises. Ces chapitres reflètent: une nécessité de transformation structurelle des pays et des régions en économies plus complexes (capables de s’insérer durablement sur la scène mondiale en renouvelant leurs avantages compétitifs); une nécessité de réallocation des ressources productives des pays et des régions afin qu’ils se positionnent sur l’échiquier mondial (le long des réseaux de production et des chaînes de valeur mondiales). / This thesis analyzes the determinants from which countries and regions adapt their exported product portfolios while facing a joint intensification of world trade flows and international competition. In the unprecedented context of current globalization, the emergence of new competitors and their ability to quickly reposition themselves on increasingly sophisticated ranges of products induces a reshape of the world market, an intensification of the competitive pressure and a growing interdependence of each other. Even though developed countries still occupy a prominent place in the international trade, they are henceforth challenged by the rise of emerging countries. This leads us to discuss strategies for repositioning export portfolios of countries and regions which are subject to the new globalization challenges. The first chapter refers to discussions from 1980 to nowadays in terms of competitiveness and sources of countries export performances. The second chapter studies the effect of international competitive pressure on the French export portfolio composition modification. The third chapter studies the effect of networks of relatedness between products on the French firms exports’ diversification. These three chapters emphasize: a need for structural transformation of countries and regions to become more complex economies, i.e. economies able to sustainably integrate the international market by renewing their competitive advantages; a need for productive resources reallocation of countries and regions to efficiently position themselves on the world chessboard, i.e. along production networks and global value chains.

abstract: Environmental regulations such as carbon taxation and air quality standards can lead to notable improvements in health outcomes and ambient air quality. However, these types of policies may have significant impacts on the labor market, in particular for workers in energy-intensive industries, especially if these workers have acquired specific human capital in those industries. This dissertation focuses on the general equilibrium consequences of environmental regulation on the labor market. Specifically, I examine costly reallocation of workers between sectors, the welfare effects of involuntary unemployment, and the heterogeneous effects of this policy on different types of workers. To this end, I develop a two-sector search model with sectoral human capital accumulation to explore the effects on the labor market of implementing a per unit of energy use carbon tax in the US. I separate the economy into a high-intensive sector (’dirty’) and a low-intensive sector (’clean’). I calibrate the model using 2014 U.S. data. I find that a carbon tax increases total unemployment by 0.06 percentage points, decreases the dirty employment rate by 2.1 percent, and increases the clean employment rate by 1.04 percent. Firms in the dirty sector adjust by decreasing the demand for high-skilled workers and increasing the number of vacancies in the low-skilled market / Dissertation/Thesis / Doctoral Dissertation Economics 2019

This dissertation consists of two chapters. The first chapter examines the valuation effect of the Q-hypothesis of mergers and acquisitions. The Q-hypothesis of mergers and acquisitions proposes that takeovers of low-Q targets by high-Q acquirers should be value creating as acquirers redeploy the targets' assets. I revisit the valuation effects of mergers and acquisitions by considering the potential costs of asset reallocation, impact from misvaluation, and the size of the reallocated assets. By examining the combined announcement returns and changes in operating performance, I find evidence consistent with both the benefits and costs of asset reallocation in the full sample of M&As from 1989 to 2010. Controlling for impact for market misvaluation in the proxy of Q, I find that the relation between value creation and the Q-difference is an inverse U-shape. This is direct evidence in support of the Q-hypothesis of M&As using firm-level data from after 1990. The results are not driven by the acquirer's corporate governance structure and the difference in industry. The second chapter investigates investigate the effect of CEO overconfidence on learning from the market in completing the announced mergers and acquisitions (M&As). Overconfident CEOs overestimate their ability to create value and believe that the market incorrectly values the firm. Therefore, they will be less likely to revise their M&A announcement according to unfavorable market reaction. I construct a proxy for CEO overconfidence based on the CEO's decisions on exercising options similar to Malmendier and Tate (2005, 2008). Controlling for the corporate governance structure of the firm, I find that an overconfident CEO is more likely to complete a bid despite unfavorable market feedback. I do not find my results are driven by alternative interpretations including managerial quality and private information. / Ph. D.

The main aim of this dissertation thesis is to present a new system of statistical information concerning the labour market in the Czech Republic with respect to the theoretical background as well as to latest trends in the labour market statistics. The structure of the thesis is as follows. In the first chapter, there is a theoretical framework of the labour market introduced. This framework interlinks relations among employees and employers and is neutral with respect to all the economic schools of thought. Besides, I describe an actual state of the labour market statistics in the Czech Republic and evaluate its compliance with the theoretical research. The second chapter is focused on the state of the art concerning labour market statistics from the point of view of both data integration and comprehensive systems of labour market indicators. In the first part of the third chapter, there is a proposal of the new system of statistical information concerning the labour market that complies with both the economic theory and latest trends in the labour market statistics. The most likely advantage of the new system is the fact that all the key aspects of the labour market (i.e. employment as well as remuneration) are surveyed and evaluated together. In addition to the generally known indicators of both economic activity and remuneration, I propose new indicators of job creation, job destruction, hires, separations, job reallocation and worker reallocation. In the second part of the third chapter, there is a proposal of the integrated data source that will allow us to quantify all indicators provided that there are no legal restrictions concerning data integration in the Czech Republic. In last two parts of the third chapter, there are discussed both the main issues concerning the implementation of the system and the pros and cons of the system. There have never been quantified the indicators concerning job and employee flows using the linked employer-employee data in the Czech Republic, so the pilot results are introduced in the fourth chapter. It is obvious that using the new system, we could prove some hypotheses that were impossible to prove using standard set of indicators. In the last part of the fourth chapter, there are worker and job flows balanced with respect to the stock information concerning labour market in the Czech Republic. In the fifth chapter, I investigate the possibility of a wider use of the new system in order to be able to identify and analyse an array of labour market phenomena in more detail. The thesis brings a new insight to the dynamics of the labour market compared to the generally known basic set of labour market indicators. The systematic approach, based on a wider use of linked employer-employee microdata combined with new indicators, has the advantages of a higher information capability as well as of complying with the requirements of the academics.

Relative used capital price, the measure of irreversibility, is fixed in almost all the investment literature. This dissertation introduces investment models with state-dependent irreversibility and tests whether these models outperform fixed irreversibility cases, at both the macro and micro levels. Since there is currently no historical data available on the issue of used capital prices, the first chapter uses an indirect inference procedure to estimate the cyclical property of irreversibility at the micro-level. In the second chapter, I propose a dynamic investment model with endogenous irreversibility arising from the lemons problem in the used capital market and examine the cyclical implication of irreversibility. Data evidence shows that capital reallocation, or used capital expenditure, is pro-cyclical. In a general equilibrium framework, the third chapter reveals that the investment model with state-dependent irreversibility explains this phenomenon while the model with fixed irreversibility does not. / text

<p>Analiza frekvencije saobraćajnih nezgoda predstavlja važan predmet<br />istraživanja mnogih autora. Jedno od ključnih pitanja koje se<br />postavlja pred upravljača puta je gde da prvo deluje, odnosno koje<br />deonica puta treba da se tretiraju kako bi se postigao željeni nivo<br />pouzdanosti određenog puta. Disertacija pokazuje da se teorija<br />pouzdanosti sistema može koristiti za analizu frekvencija<br />saobraćajnih nezgoda. Nakon analize frekvencije saobraćajnih<br />nezgoda, sledeći korak predstavlja primena teorije realokacije<br />pouzdanosti. Predloženi modeli razvijeni su za izbor deonica za<br />tretman na osnovu precizno definisanog povećanja nivoa pouzdanosti<br />određenog puta.</p> / <p>Analysis of traffic accident frequency represents an important subject of<br />research of many authors. One of the essential questions placed before a<br />road authority is where to act first, i.e. which road sections should be treated<br />in order to achieve the desired level of reliability. Dissertation shows that the<br />system reliability theory can be used to analyze traffic accident frequency.<br />After analysis of the traffic accident frequency, further step is application of<br />the reliability reallocation theory Tools have been developed for selecting<br />road sections for treatment on the basis of a precisely defined increase in the<br />level of reliability of a particular road.</p>

Nos sistemas produtivos contemporâneos, vários processos são executados simultaneamente por meio de um conjunto finito de recursos, que são fortemente compartilhados. No chão de fábrica desses sistemas produtivos, ocorrem também eventos não programados como a quebra de máquina, isto é, indisponibilidade imprevista de recursos que pode dar origem a muitos problemas como o travamento (deadlock) dos processos. Existem várias abordagens para resolver o problema, mas, em geral, elas envolvem o suporte de um sistema computacional especifico para a realocação de recursos. Por outro lado, na prática, os sistemas produtivos já possuem uma arquitetura física de controle dos processos estabelecida por normas internacionalmente aceitas, ou seja, a IEC 61131 e a IEC 61499, que prescrevem as diretrizes para o desenvolvimento de soluções de controle baseadas em CLPs. Nesse contexto, é necessário rever o problema de realocação de recursos para se adequar essa realidade à existência de uma arquitetura baseada em controladores programáveis que compõem o sistema de controle de processos desses sistemas produtivos. No presente trabalho, parte-se de requisitos de uma arquitetura física de controle de sistemas produtivos segundo as normas IEC 61131 e IEC 61499 para implementar uma solução de controle de processos que envolve recursos de uma nova natureza, ou seja, que possuem flexibilidade funcional, não prevista nas correspondentes normas. Além disso, desenvolve-se uma nova arquitetura de controle para realocação de recursos que; mediante a indisponibilidade imprevista de recursos como, por exemplo, a quebra de máquinas; considera a flexibilidade funcional das MFMs (Máquinas-Ferramenta Multifuncionais) como uma característica de seu comportamento a ser explorada em tempo real. Nesse contexto, a arquitetura proposta possui três módulos básicos: Controle de Processo (CP), que é responsável pela execução da sequência de atividades de cada processo, Designação de Funcionalidade (DF), que é responsável pela integração e organização de todas as sequências de funcionalidades dos processos, e Designação de Recurso (DR), que é responsável pela alocação/realocação de recursos, incluindo as MFMs. O trabalho define, também, um método para a implementação dos módulos que constituem o novo sistema de controle de alocação de recursos em sistemas produtivos. / In contemporary productive systems, several processes are executed simultaneously through a finite set of resources, which are shared intensively. On the shop floor of these productive systems, unscheduled events also occur, such as machine breakdowns. In other words, unexpected unavailability of resources may give rise to many problems, such as the deadlocking of processes. Several approaches exist to solve this problem, but in general they involve the support of a specific computer system to resolve the reallocation of resources. In practice, however, the productive systems already have a physical architecture for procedural control established by internationally accepted standards, i.e. IEC 61131 and IEC 61499, which prescribe guidelines for the development of control solutions. In this context, the reallocation of resources problem should be reviewed to suit this reality where there exist an architecture based on programmable controllers that make up the process control system of these productive systems. This work starts with the requirements of a physical architecture for the control of productive systems according to the IEC 61131 and IEC 61499 standards to implement a process control solution that involves resources of a new nature. In other words, resources that have a functional flexibility not provided for in the corresponding standards. In this work, a new control architecture was developed for the reallocation of resources that become unavailable because of such events as the breakdown of machinery. This architecture considers the functional flexibility of MMTs (Multifunction Machine Tools) as a characteristic of their behavior to be exploited in real time. In this context, the proposed architecture has three basic modules: Process Control (PC), which is responsible for the execution of the sequence of activities of each process; Functionality Designation (FD), which is responsible for the integration and organization of all functionality sequences of the processes; and Resource Designation (RD), which is responsible for the allocation/reallocation of resources, including the MMTs. This work also defines a method to implement the modules that make up the new resource allocation control system in production systems.

Nos sistemas produtivos contemporâneos, vários processos são executados simultaneamente por meio de um conjunto finito de recursos, que são fortemente compartilhados. No chão de fábrica desses sistemas produtivos, ocorrem também eventos não programados como a quebra de máquina, isto é, indisponibilidade imprevista de recursos que pode dar origem a muitos problemas como o travamento (deadlock) dos processos. Existem várias abordagens para resolver o problema, mas, em geral, elas envolvem o suporte de um sistema computacional especifico para a realocação de recursos. Por outro lado, na prática, os sistemas produtivos já possuem uma arquitetura física de controle dos processos estabelecida por normas internacionalmente aceitas, ou seja, a IEC 61131 e a IEC 61499, que prescrevem as diretrizes para o desenvolvimento de soluções de controle baseadas em CLPs. Nesse contexto, é necessário rever o problema de realocação de recursos para se adequar essa realidade à existência de uma arquitetura baseada em controladores programáveis que compõem o sistema de controle de processos desses sistemas produtivos. No presente trabalho, parte-se de requisitos de uma arquitetura física de controle de sistemas produtivos segundo as normas IEC 61131 e IEC 61499 para implementar uma solução de controle de processos que envolve recursos de uma nova natureza, ou seja, que possuem flexibilidade funcional, não prevista nas correspondentes normas. Além disso, desenvolve-se uma nova arquitetura de controle para realocação de recursos que; mediante a indisponibilidade imprevista de recursos como, por exemplo, a quebra de máquinas; considera a flexibilidade funcional das MFMs (Máquinas-Ferramenta Multifuncionais) como uma característica de seu comportamento a ser explorada em tempo real. Nesse contexto, a arquitetura proposta possui três módulos básicos: Controle de Processo (CP), que é responsável pela execução da sequência de atividades de cada processo, Designação de Funcionalidade (DF), que é responsável pela integração e organização de todas as sequências de funcionalidades dos processos, e Designação de Recurso (DR), que é responsável pela alocação/realocação de recursos, incluindo as MFMs. O trabalho define, também, um método para a implementação dos módulos que constituem o novo sistema de controle de alocação de recursos em sistemas produtivos. / In contemporary productive systems, several processes are executed simultaneously through a finite set of resources, which are shared intensively. On the shop floor of these productive systems, unscheduled events also occur, such as machine breakdowns. In other words, unexpected unavailability of resources may give rise to many problems, such as the deadlocking of processes. Several approaches exist to solve this problem, but in general they involve the support of a specific computer system to resolve the reallocation of resources. In practice, however, the productive systems already have a physical architecture for procedural control established by internationally accepted standards, i.e. IEC 61131 and IEC 61499, which prescribe guidelines for the development of control solutions. In this context, the reallocation of resources problem should be reviewed to suit this reality where there exist an architecture based on programmable controllers that make up the process control system of these productive systems. This work starts with the requirements of a physical architecture for the control of productive systems according to the IEC 61131 and IEC 61499 standards to implement a process control solution that involves resources of a new nature. In other words, resources that have a functional flexibility not provided for in the corresponding standards. In this work, a new control architecture was developed for the reallocation of resources that become unavailable because of such events as the breakdown of machinery. This architecture considers the functional flexibility of MMTs (Multifunction Machine Tools) as a characteristic of their behavior to be exploited in real time. In this context, the proposed architecture has three basic modules: Process Control (PC), which is responsible for the execution of the sequence of activities of each process; Functionality Designation (FD), which is responsible for the integration and organization of all functionality sequences of the processes; and Resource Designation (RD), which is responsible for the allocation/reallocation of resources, including the MMTs. This work also defines a method to implement the modules that make up the new resource allocation control system in production systems.

The main goal of this work is to simplify the plethora of information on the topic of investment and formulate them into a form, that is understandable for the normal investor. Thus, the investor gets the theoretical framework to find appropriate product, or a way to to invest in capital markets. Partial aim is to highlight the pitfalls associated with investing, define essential factors necessary for the proper choice of each investment and give specifics of individual investment instruments. Last but not least, simulations of selected investment instruments, assessing their development along with identification key factors having influence on the result of investment.

Cette thèse vise à mettre à jour les relations qui existent entre les effets de sélection de marché et les gains de productivité au sein de l'industrie manufacturière française. L'a priori de la recherche est que les marchés en France favoriseraient moins efficacement qu'ailleurs, et notamment qu'aux États-Unis, les réallocations de ressources en faveur des entreprises les plus productives. La thèse propose une exploration empirique de cette hypothèse de travail s'appuyant sur des avancées théoriques récentes dans le champ de la dynamique industrielle, en particulier des modèles de concurrence monopolistique avec distorsions de marché et firmes hétérogènes. L'ensemble des travaux proposés est effectué à partir des données issues de l'Enquête Annuelle d'Entreprises (EAE) Cette base couvre l'ensemble des entreprises manufacturières françaises de plus de 20 employés sur la période 1990 à 2006. Globalement, nos résultats vont donc à l'encontre de notre a priori de recherche. Nous montrons en effet que les effets de sélection de marchés ont fortement contribué à la croissance de la productivité dans les secteurs industriels français, notamment sur la période récente. Nous montrons par ailleurs que les méthodes les plus récentes ne permettent pas de discriminer l'industrie française de l'industrie américaine au regard de critères d'efficience dans l'allocation intrasectorielle des ressources. Nous proposons enfin différentes pistes de réflexions futures notamment liées au développement d'outils plus dynamiques de mesure de l'inefficience allocative. / We research a link between the market selection effects and the productivity growth in the French manufacturing industry. Generally, we suppose that the French market has an allocative inefficiency, especially when comparing it with the American market. To appreciate this hypothesis, we suggest an empirical approach based on recent theoretical contributions in the fields of industrial dynamics, in particular when looking at market distortions and heterogeneous firms within the monopolistic competition models. All work proposals are based on Firm Annual Survey (EAE) data. This Database covers all French manufacturing firms which have more than 20 employees from 1990 to 2006. Overall, our results do not sustain our research hypothesis. Indeed, we find that the market selection effects have strongly contributed to the productivity growth of the French manufacturing industries, in particular in the recent period. On another side, we show that the most recent methods do not allow discriminating between the French manufacturing industries and the American manufacturing industries according to the efficiency criteria of the intrasectoriel resources reallocation process. Finally, we suggest different ways to go further, such as using theoretical dynamic tools including inefficiency allocative measures.