By using Arellano and Bond GMM estimator, this paper analyzes how the regulation framework of Basel, affects the profitability level of the banking industry. The data consists of savings and commercial banks located in 16 different OECD countries over the time period from 1992 to 2009. The cross-country study, evaluates, whether increased capital requirements have a negative effect on bank profitability, meaning, if banks that keep a larger capital buffer earn a lower return or if banks that increase capital are better prepared for the financial crisis and therefore manage to get a better return. To evaluate the effect, the time period utilized is divided into a pre-crisis period (1992 to 2007), which is compared with an average over the total period (1992-2009). The measure of profitability is the return on equity and to control for business cycle fluctuations macro economic factors are included. Previous research results are scattered and indicate that decreased risk taking increases profitability, meanwhile increased regulation decreases profitability. The main findings in this paper are that Tier 1 capital and risk-weighted assets have a negative effect on profitability, whereas the capital buffer illustrates a positive effect.

Uppsatsen handlar om människors politiska tillit i Spanien under den ekonomiska krisens första skede 2008. Spanien var ett av de länder som drabbades hårdast och tvingades till krislån från EU med åtstramningspolitik som följd. Människor försattes i arbetslöshet och bostadskris. Uppsatsen undersöker om den ekonomiska krisen innebar en förändring i individers politiska tillit. Dessutom kontrolleras om det finns en särskild effekt från exponeringen av den ekonomiska krisen, beroende på individers inkomst, utbildning och skattning på den politiska vänster-höger-skalan. Data är hämtad från European Social Survey (ESS), enkätstudie utförd i Spanien 2008. Resultaten analyseras genom multipel regressionsanalys och interaktionsanalys. Studien fann inget stöd för att exponeringen av den ekonomiska krisen under den valda tidsperioden, hade en påverkan på människors politiska tillit i Spanien. Dessutom finnes ingen enskild effekt på människors politiska tillit från exponeringen av den ekonomiska krisen beroende på deras inkomst, utbildning och skattning på den politiska vänster-höger-skalan. Uppsatsen använder teorier om politisk tillit och dess relation till ekonomisk förändring.

京都大学 / 0048 / 新制・論文博士 / 博士(医学) / 乙第13109号 / 論医博第2127号 / 新制||医||1022(附属図書館) / (主査)教授 今中 雄一, 教授 川上 浩司, 教授 髙折 晃史 / 学位規則第4条第2項該当 / Doctor of Medical Science / Kyoto University / DFAM

Base flow recession curve during a dry period is a distinct hydrologic signature of a watershed. The base flow recession analysis for both streamflow and spring flow has been extensively studied in the literature. Studies have shown that the recession behaviors during the early stage and the late stage are different in many watersheds. However, research on the transition from early stage to late stage is limited and the hydrologic control on the transition is not completely understood. In this dissertation, a novel cumulative regression analysis method is developed to identify the transition flow objectively for individual recession events in the well-studied Panola Mountain Research Watershed in Georgia, USA. The streamflow at the watershed outlet is identified when the streamflow at the perennial stream head approaches zero, i.e., flowing streams contract to perennial streams. The identified transition flows are then compared with observed flows when the flowing stream contracts to the perennial stream head. As evidenced by a correlation coefficient of 0.90, these two characteristics of streamflow are found to be highly correlated, suggesting a fundamental linkage between the transition of base flow recession from early to late stages and the drying up of ephemeral streams. At the early stage, the contraction of ephemeral streams mostly controls the recession behavior. At the late stage, perennial streams dominate the flowing streams and groundwater hydraulics governs the recession behavior. The ephemeral stream densities vary from arid regions to humid regions. Therefore, the characteristics of transition flow across the climate gradients are also tested in 40 watersheds. It is found that climate, which is represented by climate aridity index, is the dominant controlling factor on transition flows from early to late recession stages. Transition flows and long-term average base flows are highly correlated with a correlation coefficient of 0.82. Long-term average base flow and the transition flow of recession are base flow characteristics at two temporal scales, i.e., the long-term scale and the event scale during a recession period. This is a signature of the co-evolution of climate, vegetation, soil, and topography at the watershed scale. The characteristics of early and late recession are applied for quantifying human impacts on streamflow in agricultural watersheds with extensive groundwater pumping for irrigation. A recession model is developed to incorporate the impacts of human activities (such as groundwater pumping) and climate variability (such as evapotranspiration) on base flow recession. Groundwater pumping is estimated based on the change of observed base flow recession in watersheds in the High Plains Aquifer. The estimated groundwater pumping rate is found consistent compared with the observed data of groundwater uses for irrigation. Besides streamflow recession analysis, this dissertation also presents a novel spring recession model for Silver Springs in Florida by incorporating groundwater head, spring pool altitude, and net recharge into the existing Torricelli model. The results show that the effective springshed area has continuously declined since 1988. The net recharge has declined since the 1970s with a significant drop in 2002. Subsequent to 2002, the net recharge increased modestly but not to the levels prior to the 1990s. The decreases in effective springshed area and net recharge caused by changes in hydroclimatic conditions including rainfall and temperature, along with groundwater withdrawals, contribute to the declined spring flow.

Real Estate law is the body of rules and regulations with legal codes that concern ownership, development and transactions. Real Estate has grown to be one of the main contributors to the nation's financial system. For decades, the housing market has been such an integral part of the economy. Unfortunately, in the beginning of the twenty-first century lax regulatory oversight led the nation to an economic collapse. Indeed, federal, state and local governments have become heavily involved in solving the downward spiral in the economy. This research focuses on the mortgage crisis in order to show how Real Estate law can in fact, restore the economy when the government has a balance between regulations and market discipline. The intent of this thesis was to study the occurrence of the mortgage crisis, the regulatory authorities and the legal effects of the housing market. Through the analysis of case law and statutes, data, previous recessions, and economic indicators, this thesis examines the key factors in our legal system that should drive reform in our economy. Results suggested that greater efforts to a regulatory structure generate a secure financial system. Thus, the purpose of this thesis is not only to solve our current mortgage crisis but also to mitigate or prevent future crises.

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This paper studies the effects of the economic distress that occurred in Swedish municipalities during the financial crisis of 2008 and its effects on social capital. By comparing more exposed municipalities in terms of the decline in employment to less exposed municipalities with a difference-in-difference approach, the aim is to see if the Great Recession had heterogeneous effects on social capital in Sweden. The overall trends in social capital for both groups over the period are positive or stable with a minor plunge during the crisis. However, there are indications of a polarisations concerning trust in other people and in government, where the increase was supressed in more affected municipalities compared to less. For trust in government, it is more educated people and men that drives the negative results while foreign-born saw an increase. The loss in trust in government in the comparison made is more pronounced the more economically distressed the municipality was. Moreover, there seems to be a polarisation in confidence in parliament and satisfaction with democracy, but due to violated parallel trends assumptions it might not be due to the crisis.

This study adds to current understandings of the relationship between socioeconomic conditions and health by examining the influence of work-family strain on health in the context of the recent Great Recession and the preceding and following years in the United States. Analyses used data from the 2002 and 2008 National Survey of the Changing Workforce (NSCW) and 2002, 2006 and 2010 General Social Survey's Quality of Working Life modules. Findings suggest that work-family strain in general increased during the Great Recession compared to non-recessionary periods, that people who experience lower levels of work-family strain enjoy better health, and that health tends to be better during non-recessionary periods compared to recessionary periods. Work-family strain was shown to mediate a small portion of the impact of macroeconomic condition on health. While work-family strain does not appear to be a primary mediator of the relationship macroeconomic condition and health it remains significant and also a very alterable condition. Findings suggest that positive workplace environments can significantly lessen the negative impacts of work-family strain on health of employees. Improvements of workplace environments and conscious efforts to reduce work-family strain for employees could have significant impact on the health of the working US population with minimal costs during both recessionary and non-recessionary periods. / Ph. D.

No / This chapter reviews the substantive issue of the contemporary intertwining of both national and overall EU economy in relation to the spectre of monetary union through first evaluating a country’s readiness for euro entry through a comparison between the convergence criteria stipulated in the Treaty on European Union and the theory of optimal currency areas, which leads to discussion of the economic costs and benefits of euro membership. However, given the unprecedented strain eurozone has now come under the also chapter examines the background to the current eurozone crisis; specifically, how the Global Financial Crisis induced Great Recession triggered the problems within the eurozone. Subsequently, the chapter explores how the advent of EMU has significantly redefined the operation of fiscal and monetary policy with the former retained by member states, but proscribed by EMU-wide rules, whilst the latter has been assumed by a specifically created independent central bank. Hence, the chapter explores the theoretical underpinnings of the operation of monetary and fiscal policy within EMU, where it examines the conduct, coordination and philosophy of macroeconomic policymaking. This analysis is then extended by discussing a series of potential remedies, consisting of an evaluation of EU instigated solutions, together with a series of alternative propositions. However, whilst the economic remedies to the eurozone crisis may eventually succeed, the greater long-term damage may well emerge through the political sphere with the imposition of unelected technocrat governments, together with growing dissatisfaction of mainstream political parties with support for either the far-right, protest parties, anti-euro parties, anti-EU parties, or member states losing confidence in the direction of ‘ever closer union’.