xiii, 160 p. : ill. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number. / Feldstein and Horioka (1980) motivated the international finance literature by claiming a least squares regression of domestic investment rates on domestic savings rates is an informative measure of capital mobility. Their method stirred up controversy when they interpreted a high correlation between savings and investment rates as evidence of capital immobility, creating the famous Feldstein-Horioka puzzle. Current research starts with the Feldstein-Horioka result and shifts focus toward measuring short and long-run adjustments to external imbalances. The literature has implemented dynamic time-series and panel estimators to test the relationship. Following recent literature, each chapter in this dissertation jointly focuses on the adjustment process of current account imbalances and the conditions required for capital mobility. The intent of this study is to show through the use of new estimation techniques previous results have been largely misguided. The starting point for this analysis is a thorough review of three key equations used in saving-investment regressions. The three models in question are an ordinary least squares model, error correction model, and an autoregressive distributive lag estimator. Each model is tested for stability, and it is found that a number of countries have an unstable relationship. One argument for the instability results is the presence of structural breaks. Previous literature has found that both variables follow non-stationary processes, but when using more powerful unit root tests and controlling for level shifts, both variables appear stationary. If each variable is stationary then previous methods assuming non-stationarity will produce incorrect inferences. Each series is optimally estimated for structural breaks, and through a mean differencing process the savings-investment coefficient is significantly reduced. Additionally, removing the exogenous breaks and using the lower frequency components allows for modeling the short-run current account adjustment process. Finally, the results are extended to measure the relationship in a panel framework using dynamic panel estimators and threshold effects. After controlling for structural breaks the coefficient decreases and exhibits a downward trend. The remaining correlation can be explained through trade openness and country size measures. / Committee: Nicolas Magud, Chairperson, Economics; Stephen Haynes, Member, Economics; Jeremy Piger, Member, Economics; Regina Baker, Outside Member, Political Science

The master´s thesis deals with influence of the insulation of the detached house on the costs associated with heating and the effect on the usual price of detached house. In the theoretical part of the thesis are given the basic concepts of heat, the topic of energy intensity of buildings, methods of thermal insulation, types of thermal insulation, the development of thermal properties of burnt brickwork and valuation. In the practical part there are designed variants of economy measures and there are calculations of heat losses of the current state and newly proposed variants. Then follows the energy savings assessment, payback period and the effect on the price of a usual detached house.

This master thesis is focused on energy audit of a civil building in regards of the state legislati-on. The purpose of this energy audit is to compare energy properties of this civil building and also to design at least two variations of energy savíng solutions. These solutions are designed regarding an economic and ecological focus of the audit and the variations of energy savings.

Den svenska bostadsmarknaden har de senaste åren haft en växande trend och trycket påbostäder har under en längre period varit högt. Priserna har stadigt ökat, framför allt iStockholmsregionen. Flera faktorer har medverkat till de stigande bostadspriserna och allt flerregleringar har införts för att dämpa prisutvecklingen. Dessa regleringar har satt högre krav påbolånetagare och det är numera svårare att få ett bostadslån beviljat med statens och bankernasnya kriterier. Redan innan införandet av mer utvidgade regleringar var möjligheten förungdomar att ta sig in på bostadsmarknaden svår. De nya regleringarna har försvårat situationenytterligare då de främst omfattar nya låntagare, vilket i många fall är ungdomar som vill köpasin första bostad.I en jämförelse mellan Sverige och Norge avseende den yngre målgruppen visar statistik på attfler unga äger sitt boende i Norge jämfört med i Sverige. Vid en närmare analys av de olikamarknaderna finns flertalet anledningar till varför statistiken skiljer sig åt. Den utmärkande ochhögst intressanta skillnaden är att det i Norge finns ett speciellt utformat bosparsystem,Boligsparing for ungdom, för just ungdomar med avsikt att främja bosparande hos unga.I detta arbete har en mer ingående analys gjorts av det norska Boligsparing for ungdom ochvidare undersökning på hur den svenska bostadsmarknaden, inriktat på den yngre målgruppen,skulle komma att påverkas genoms ett införande av motsvarande bosparssystem i Sverige.Dessutom har en analys gjorts över hur ungas möjlighet att finansiera en bostad kan komma attförändras genom att införa ett subventionerat bosparsystem. Vidare innehåller arbetet hur densvenska bostadsmarknaden kan bli mer lättillgänglig för unga och vilka åtgärder som behövsför att ungdomar ska få möjlighet att välja den boendeform de vill ha. / The Swedish housing market has grown during the past few years and the demand for propertieshas been high for quite some time. The prices have steadily increased, especially in theStockholm region. Several factors have contributed to the increased house prices andregulations have been introduced to dampen price developments. These regulations have puthigher demands on mortgage lenders. And it is now more difficult to get a mortgage loangranted with the new criteria set by the state and the banks. Even before the introduction ofmore extended regulations, youths’ possibility to enter the housing market was difficult. Theopportunity for youths has been further aggravated as a result of the regulations that mainlytarget new lenders, which in many cases are young adults wanting to buy their first property.In a comparison between Sweden and Norway regarding youths’ ability to enter the housingmarket, statistics show that more young adults have bought their own properties by a youngerage in Norway than in Sweden. When analyzing the countries’ different housing markets, wehave found several reasons for the statistics to differ. One distinct and very interestingdifference is that there is a specially developed saving system for youths in Norway calledBoligsparing for ungdom, with the intention of promoting youths’ saving.In this study, a closer analysis has been made of the Norwegian saving system and furtherinvestigation into how the Swedish housing market, targeting youths, would be affected by theintroduction of the corresponding saving system in Sweden. In addition, an analysis has beenmade regarding if Swedish youths’ opportunity to finance a housing will be affected byintroducing a subsidized saving system. Furthermore, this study will focus on how the Swedishhousing market could become more accessible to young adults and needed measures to enableyouths to choose the type of housing they want.

This bachelor’s thesis is written in collaboration with Skanska. The purpose of this thesis is to implement a time and cost analysis to compare the standard working week with five variations of work arrangements to investigate which is the most profitable. The thesis also examines which factors affects profitability and whether shift work is a good alternative in the construction industry. Depending on choice of working arrangement, it is possible to reduce both time and cost for a project.A calculation model has been created to be able to compare the different working arrangements. The purpose of the model is to clarify how the total price is affected by shorter production time and increased costs due to staff. The model uses a standard project as reference which is based on real figures from four completed projects within house building.The result of the calculation model is that a 53-hour week yields a cost saving of 3,8%. Two-shift yields a cost saving of 3,3%, a 60-hour week 1,9% and three-shift 1,1%. By working with shifts or longer workdays, projects can be completed faster and with, for example, three shifts it is possible to complete a project almost three times as fast. With two shifts it is possible to reduce construction time by half and with the a 60 and 53-hour week the construction time can be shortened by one third and one quarter. This confirms that a shorter construction time leads to a lower final cost despite increased costs due to staff. This since a shorter construction time leads to reduced time-dependent costs.As part of the thesis work a diagram has been created showing how much of the costs that should be time-dependent for the working time alternatives to be profitable. If time-dependent costs accounts for over 50% of the total cost of the project, all working time arrangements in the study are a better alternative than the normal 40-hour week.The conclusion is that a 53-hour week is the most profitable in terms of financial gain. A three shift yields the lowest cost saving, but is the most profitable when it comes to saving time. A shorter construction time provides an economic gain but is also valuable in other ways. It can provide both economic benefit and contribute to benefiting society, which is positive for both companies, customers and third parties. In addition, all work arrangements compared to a 40-hour week also generates a higher cost saving due to the time saving effect.Whether shift work is a good alternative in the construction industry is a difficult question with several different aspects to consider. This thesis only provides an answer from a time and cost perspective, but the thesis also discusses other aspects that are important in choosing work arrangement.

This study examines how the investment opportunity set of the firm affects financing choices the firm makes. In a two-period, one decision, no-tax model, we show that firms characterized by a high level of investment opportunities in future periods issue equity and convertible securities while firms with fewer investment opportunities in future periods issue straight debt. Our empirical design improves upon previous studies in two important ways. First, we treat convertible debt separately from straight debt. Second, in addition to examining the correlation between investment opportunity and debt-asset ratios, we examine the incremental financing decision using discrete choice analysis. We find that the level of investment opportunities of firms making public issues of equity and convertible debt are higher than those issuing straight debt. Also, there is a negative correlation between investment opportunities and debt-asset ratios. We interpret these results to mean that investment opportunities are an important determinant of the firm’s financing policy. The direction of this relationship is the same as that predicted by the tax models of DeAngelo and Masulis (1980) and Dotan and Ravid (1985), and agency models of Myers (1977), Jensen (1986) and Stulz (1990). / Ph. D.

The thesis deals with energy-saving plumbing systems. It is divided into three parts: task analysis, applications theme on the building and experiment. In the first part are described the possibilities of saving water and energy in the plumbing systems. The second part contains a comparison of some variants of saving solution water supply system and sanitary drainage system at the hotel. Part of the experiment investigates the water consumption for washing hands in addiction: the pressure in the water supply system and the type of mixing valves.

In recent years, the energy shortage has become a barrier to social development as there is a shortage of resources, especially non-renewable resources. In order to improve the current situation of human settlement for future generations, a series of environmental protection activities and rational utilizations of natural resources have been carried out at a global level on the theme of "Sustainable Development". Along with the quantitative growth of Chinese public buildings, especially the Large-Scale Public Buildings, the levels of energy consumption are rising and this phenomenon has been seen as a key point of energy management from a national view. This paper discusses the realities of energy consumption and the energy-saving policies of public buildings in the world’s major developed countries, and sums up the current condition of Chinese energy consumption in relation to public buildings. With regard to these factors, this paper tries to find approaches for solving the existing problems in each construction section. Less developed construction technology in China leads to a waste of materials and labor force. There is a lack of professional personnel to handle the operational management and a lack of consideration for energy efficiency in the designing process. There is not a suitable framework for compiling statistics and data on energy consumption. There are still many management problems such as inadequate policy standards in operability or implementation, unclear positioning in governmental management, ineffective incentive or punitive mechanisms, and a defective state system which results directly in an undeveloped service system for energy efficiency. Based on all of the problems listed above, this paper suggests solutions in four areas, namely Policy, Energy Statistics, Management and Education, in order to give academic support for the overhaul of Large-Scale Public Buildings towards greater energy efficiency in China.

In recent years, the energy shortage has become a barrier to social development as there is a shortage of resources, especially non-renewable resources. In order to improve the current situation of human settlement for future generations, a series of environmental protection activities and rational utilizations of natural resources have been carried out at a global level on the theme of "Sustainable Development". Along with the quantitative growth of Chinese public buildings, especially the Large-Scale Public Buildings, the levels of energy consumption are rising and this phenomenon has been seen as a key point of energy management from a national view. This paper discusses the realities of energy consumption and the energy-saving policies of public buildings in the world’s major developed countries, and sums up the current condition of Chinese energy consumption in relation to public buildings. With regard to these factors, this paper tries to find approaches for solving the existing problems in each construction section. Less developed construction technology in China leads to a waste of materials and labor force. There is a lack of professional personnel to handle the operational management and a lack of consideration for energy efficiency in the designing process. There is not a suitable framework for compiling statistics and data on energy consumption. There are still many management problems such as inadequate policy standards in operability or implementation, unclear positioning in governmental management, ineffective incentive or punitive mechanisms, and a defective state system which results directly in an undeveloped service system for energy efficiency. Based on all of the problems listed above, this paper suggests solutions in four areas, namely Policy, Energy Statistics, Management and Education, in order to give academic support for the overhaul of Large-Scale Public Buildings towards greater energy efficiency in China. / www.ima.kth.se

Typescript (photocopy). / Digitized by Kansas State University Libraries