Dissertations / Theses on the topic 'Valeur refuge'

L’émergence en 2008 des cryptomonnaies avec en porte-étendard Bitcoin a provoqué un véritable raz-de-marée, obligeant les institutions à repenser l’économie. Les investisseurs, quant à eux, ont attendu de voir quelle place les cryptomonnaies allaient prendre avant de s’engager dans ce nouveau marché. Face à des actifs qui semblent ne reposer sur aucune loi économique, où les indicateurs conventionnels ne semblent pas pouvoir indiquer leurs évolutions dans le temps, les risques de pertes se sont accentués. Tout comme pour les marchés financiers classiques, il fallait réussir à proposer une lecture du marché de la cryptomonnaie. Cette nécessité s’est renforcée du fait de l’inquiétude grandissante des institutions quant aux éventuelles pertes abyssales et à l’absence de régulation de ce marché. Dans cette thèse, sont étudiés la dynamique et le comportement des cryptomonnaies. Dans le premier chapitre, Après avoir détaillé le fonctionnement des marchés de cryptomonnaies, nous nous sommes intéressés aux variables explicatives de leur évolution. L’objectif est de démontrer l’existence, à court et long terme d’une asymétrie d’effet des variables d’attractivité telles que les recherches Google et les statistiques de consultation Wikipedia sur les prix des cryptomonnaies. Un modèle autorégressif à retards distribués non linéaire (NARDL) est utilisé en ce sens. A court terme, nous observons que l’ensemble des cryptomonnaies retenues réagissent plus ou moins fortement aux facteurs d’attractivité. Cependant, à long terme, l’absence d’effet sur les cryptomonnaies, démontre un processus d’évolution plus complexe. Enfin, l’étude ne permet pas de conclure sur l’influence de l’attractivité sur le stablecoin. Dans le deuxième chapitre, nous nous concentrons sur les effets d’annonces institutionnelles et médiatiques sur les stablecoins, un type de cryptomonnaie particulier, réputé pour être stable dans le temps. En approchant ce sujet par une étude d’évènement haute fréquence, nos résultats soulignent l’importance des annonces américaines auprès des stablecoins décentralisés et l’importance des annonces médiatiques auprès du plus important stablecoin, Tether. La nature des résultats permet d’aborder l’implication des politiques et institutions sous un angle macroprudentiel et dans une optique de coordination internationale. Le dernier chapitre nous permet d’aller plus loin, en considérant la capacité des stablecoins à remplacer l’or physique comme valeur refuge. En étudiant simultanément les queues de distributions par régression quantile et l’analyse des signaux par analyse d’ondelettes, nous soulignons la possibilité des stablecoins à remplacer l’or physique, sous condition de l’étude de la provenance du stress des marchés
The economy and the financial world have undergone a number of upheavals, triggering changes in habits and approaches for people, governments and global institutions alike. The emergence of crypto-currencies in 2008, with Bitcoin as their flagship, caused a veritable tidal wave, forcing institutions to rethink the economy. Investors, for their part, waited to see what role crypto-currencies would play before invading this new market. Faced with assets that appear to be based on no economic law, where conventional indicators do not seem to be able to indicate their evolution over time, the risks of losses have increased. Just like the financial markets with which we are all familiar, we needed to be able to offer a reading of the cryptocurrency market and its variations. This intuition was reinforced by the growing concern among institutions about losses and the lack of regulation in this market. This is why, throughout this thesis, we study the dynamics and behaviour of cryptocurrencies over time.In the first chapter, we employ a non-linear distributed lag autoregressive (NARDL) model to illustrate the existence of asymmetric effects, both in the short and long term, of attractiveness variables such as Google searches and Wikipedia consultation statistics on cryptocurrency prices. In the short term, all our cryptocurrencies react more or less strongly to attractiveness factors. In the long term, the absence of any effect on cryptocurrencies, demonstrating a more complex valuation process. The study does not provide conclusive evidence on the influence of attractiveness on stablecoins.In the second chapter, we concentrate our study on the effects of institutional announcements and media announcements on stablecoins, a particular type of cryptocurrency, known for being stable in time. Using a high-frequency event study, the results underline the importance of the American announcements for the decentralized stablecoin and the importance of media with the most important stablecoin on the market, Tether. The nature of the results means that policies and institutions can be involved from a macroprudential perspective and with a view to international coordination.The last chapter allow to delve further, considering the capability of stablecoins to serve as an alternative of physical gold as a safe haven. By studying simultaneously, the distribution tails with the quantile regression and the signals analysis with the wavelet analysis, we underline the capability of stablecoins to replace physical gold, assuming of the localization of market stress

A partir de 1973 va commencer pour le billet vert américain une période d’incertitudes, de déclin et d’amples fluctuations. Le dollar, monnaie reine dans les années 60 va devenir au fil des ans, fragile, contesté et progressivement abandonné sur les marchés financiers internationaux. Il apparaît à partir de cette année 1970, et ce jusqu’en 1980 que l’évolution du cours du dollar américain réponde bien pour l’essentiel à une explication fondée sur quelques théories économiques traditionnelles. Après la mise en place de la nouvelle politique monétaire américaine, véritable tournant dans l’histoire économique contemporaine de ce pays, et l’installation quelques mois plus tard de Ronald Raegan à la maison blanche, ces théories économiques traditionnelles ne vont plus suffire pour rendre pleinement compte de l’évolution de la devise américaine. On a assisté alors à la naissance d’un phénomène tout nouveau : la confiance retrouvée dans l’économie et la puissance américaine. Dès lors, les facteurs politiques vont revêtir un rôle primordial dans l’explication de l’évolution du dollar. Ces facteurs politiques ne vont plus comme durant la période 1973-1980 pousser à la fuite devant le dollar, mais au contraire, jouer en sa faveur en le précipitant vers les sommets, le dollar plus que jamais monnaie politique est devenu la valeur refuge la plus sûre dans un monde cahoté de toute part, en proie à l’incertitude politique et à une grave crise économique
The year 1973 will be for the American green back the start of a period consisting of unreliability, falls, and important fluctuations. The dollar queen money of the sixties will become throughout the years fragile, contested and progressively abandoned on the international financial markets. It seems to appear, as from the year 1973, and thus till 1980 that the evolution of the American dollar’s rate of exchange answers properly, for the most, to a basic analysis of some traditional economic theories will not anymore be sufficient to explain fully the evolution of the American currency. We have their seen the birth of a very new phenomenon: the confidence recovered in the American economy and power. As from there, the political factors will take on the major part in the explanation of the dollar’s evolution. Those political factors will not anymore, like during the period 1973-1980 push to escape in front of the dollar, but in the contrary plays in its favor byhastering it towards the tops. The dollar more than ever political money has become the safest refuge value in a world bumped from everywhere, being a prey to a political state of incertainty and to an important economic crisis

La thèse est composée de trois parties. La première présente un certain nombre de mesures de dépendance extrême. Une application sur les actions et les obligations de 49 pays montre que la théorie des valeurs extrêmes multivariées conduit aux résultats différents de ceux issus du coefficient de corrélation, mais relativement proches de ceux obtenus du rho de Spearman conditionnel multivarié. Cette partie évalue aussi le risque de pertes importantes simultanées. La deuxième partie examine les déterminants des co-mouvements extrêmes entre 5 pays core et 49 pays non core. Les mécanismes de transmission des chocs varient de la période moins récente à la période récente, des pays développés aux pays émergents, des chocs normaux aux chocs extrêmes. La troisième partie étudie le rôle de valeur refuge de l’or sur la période 1986-2012. Les gains positifs extrêmes de l'or peuvent être liés aux pertes extrêmes du S&P. Cependant, ce lien n'est pas toujours valable, il évolue dans le temps et serait conditionné par d'autres facteurs
The thesis consists of three parts. The first part introduces a number of measures of extreme dependency. An application on stock and bond markets of 49 countries shows the multivariate extreme value theory leads to results which are different from those from the correlation coefficient, but relatively close to those obtained from multivariate conditional Spearman's rho. This part also assesses the risk of simultaneous losses. The second part examines the determinants of extreme co-movements between 5 core countries and 49 non-core countries. Transmission mechanisms of shocks vary from less recent to recent period, from developed to emerging markets, from normal to extreme shocks. The third part examines the role of safe haven of gold over the period 1986-2012. Extreme positive gains of gold can be linked to extreme losses of S&P. However, this relationship is not always valid, it evolves over time and could be determined by other factors

This thesis examines the Ballarat Female Refuge, the first such institution on the Australian goldfields, as a case study of the interrelationship between charity and power. Established in 1867 by a group of twenty-six Protestant women with the intention of reforming prostitutes, the Refuge became a shelter for single mothers. An analysis of its history over the period 1867 to 1921 highlights attitudes towards female sexuality, and demonstrates how moral authority was exercised through this highly-gendered institution. The thesis locates the Ballarat Female Refuge within both an international history of female refuges and the network of voluntary charities which developed in nineteenth-century Ballarat. It argues that such charities were influential in the consolidation of class barriers in the goldfields city. While they were founded as a result of both evangelical religious fervour and humanitarian concern, they sought to impose middleclass moral values on their inmates, simultaneously conferring status and prestige on their committee members The thesis analyses the Protestant Ballarat Female Refuge through an examination of its committee, staff and residents in order to identify aspects of both power and mutuality in the charity relationship. It also looks at the symbolic systems operating at the Refuge, in particular the meanings of the wall and the laundry in the processes of exclusion and reformation. Drawing on narrative, biographical, statistical and genealogical sources, it details the ways in which moral authority was exercised through the Ballarat Female Refuge.

The research on natives’ attitudes regarding immigration has increased during the past decades. The overall findings question the common theory of labor market competition and that native attitudes are affected by personal economic considerations. In the same time an increased concern in the political debate has become immigration. In many countries, there is a growth and progress of political parties with a far-right orientation that disapproves and attempts to prevent immigration. We examine data on attitudes towards immigration from eight rounds of the European social survey (ESS) which covers the years between 2002-2016. We study if the attitudes in Europe towards immigration from poor non-member countries of the European Union have changed during the 21th century and examine if the massive acceleration of refugee applications during the refugee crisis in 2015 has had an impact on the attitudes towards immigration. We estimate different models to examine how different factors are associated with individuals' attitudes towards immigration. Furthermore, we test if the labor market competition model holds for the seventh round of ESS due to limitation in data. We find that natives’ attitudes have not become worse in Europe, and that the refugee crisis in 2015 has not made the attitudes worse. We find that the factors that are associated with individual attitudes towards immigration are to a large degree connected with cultural values and beliefs, and that individuals with more years of schooling are more likely to favor immigration regardless of where the immigrants come from. These findings are consistent with the growing body of empirical findings that considers that cultural values and believes are the main drivers of attitudes towards immigration, and that actual effects of immigration on income and employment are quite small. These findings put the labor market competition premise in forming immigration attitudes into question.

Résumé : L’objectif de ce travail est d’étudier ce qui amène une personne malade à formuler un refus de traitement, à partir d’une triple approche. Celle du patient et de ses proches, celle des professionnels confrontés à ce refus, celle d’un groupe de réflexion éthique, pluri professionnel, rassemblant des représentants des sciences humaines, ainsi que des « citoyens ordinaires » non professionnels de santé, apportant le regard de la cité. Chercher le sens d’un refus consiste à analyser et décrypter une volonté de la personne que quelque chose se produise ou ne se produise pas, et correspond à la dialectique du don et de l’acceptation du soin. Refuser un traitement n’est pas refuser un soin. Les situations de refus constituent un champ de réflexion sur nos comportements, individuels et collectifs, nos doutes, nos incertitudes ainsi que sur des valeurs en conflit. Ce travail étudie la complexité des problèmes rencontrés à ce sujet en pratique clinique quotidienne, pour en approfondir le questionnement dans l’interaction qui se joue entre les différents acteurs. Il montre aussi l’importance des méthodes de travail à mettre en place pour favoriser l’éthique du dialogue. Face aux choix auxquels sont confrontés ceux qui assument la responsabilité de la décision, la question se pose de savoir vers quelles ressources se tourner pour favoriser la réflexion éthique, évitant l’arbitraire des convictions personnelles
Abstract : The objective of this work is to study what brings a sick person to formulate a refusal of treatment, based on a three-pronged approach. One of the patient and his relatives, one of professionals faced with this refusal, and one of a multi-professional ethics reflection group, bringing together representatives of humanities and social sciences, as well as “ordinary citizens”, bringing the outside eye of the city. Looking for the meaning of a refusal consists of analyzing and decoding a willingness of the person that something happens or does not happen, and corresponds to the dialectic of the gift and acceptance of the care. To refuse a treatment doesn’t mean refusing care. Situations of refusal pave the way for reflection about our individual and collective behavior, our doubts, our uncertainties as well as conflicting values. This work explores the complexity of such problems encountered in daily clinical practice, in order to deepen the questioning about the interaction played between the different actors. It also shows how important it is to working methods that promote the ethics of dialogue. Considering the choices faced by those who assume the responsibility for the decision, the question arises of which resources to use to promote ethical reflection, avoiding the arbitrary nature of personal convictions

Définie comme droit national puis comme droit communautaire depuis l’adoption de la Convention de Dublin en 1990 par les États membres, la politique d’asile de l’Union européenne est devenue indissociable de sa politique migratoire. Le contexte des arrivées massives d’exilés dans l’Union européenne au cours des années 2010 a permis à l’UE de renforcer l’intégration de la demande d’asile dans une politique sécuritaire en la hiérarchisant, la catégorisant et en renforçant l’externalisation de son traitement. Cependant, en confirmant le mécanisme « Dublin » qui appelle à la solidarité des États membres dans la prise en charge des demandeurs d’asile, l’Union européenne, qui formait jusque-là un bloc unifié institutionnellement autour des valeurs des droits de l’Homme et de la démocratie, est désormais traversée par des conflits qui laissent ouverte la question de l’intégration et du rejet des demandeurs d’asile et qui révèlent une crise plus large
Defined as national law and then as Community law since the adoption of the Dublin Convention in 1990 by the Member States, the asylum policy of the European Union has become inseparable from its migration policy. The context of the mass influx of exiles into the European Union in the course of 2010 has allowed the EU to strengthen the integration of asylum demand into a security policy by prioritizing, categorizing and strengthening the outsourcing of its treatment. However, by confirming the « Dublin » mechanism which calls for the solidarity of the Member States in the care of asylum seekers, the European Union, which until then formed an institutionally unified blocaround the values of the human rights and democracy, is now crossed by conflicts that leave open the question of integration and rejection of asylum seekers and reveal a wider crisis

Cette thèse contribue à la littérature sur la consommation alimentaire, la malnutrition infantile et la réussite scolaire dans les pays en développement. Le premier chapitre a pour but d’estimer la relation causale entre la malnutrition et la réussite scolaire parmi un échantillon d’enfants malgaches inscrits dans le cycle primaire. Les chocs de pluie endurés lors de la petite enfance sont utilisés comme instruments exogènes pour expliquer le statut nutritionnel de long terme. Les résultats indiquent que les retards de croissance sont un obstacle important pour l’apprentissage scolaire. Le deuxième chapitre examine l’effet des cycles de distribution alimentaire sur la consommation alimentaire de ménages réfugiés. Les résultats suggèrent que la consommation moyenne de céréales diminue au fur et à mesure que l’on s’éloigne du jour de la distribution alimentaire. Cet effet est suffisamment important pour avoir un impact sur le statut nutritionnel de court terme des enfants de notre échantillon. Le troisième chapitre exploite des données de panel sur une cohorte de jeunes adultes malgaches afin d’estimer une fonction de production de capacités cognitives grâce à l’utilisation d’un modèle de valeur ajoutée. Les résultats soulignent le rôle essentiel de la scolarisation dans l’acquisition de capacités cognitives
This thesis contributes to the literatures on food consumption, child malnutrition and school achievement in developing countries. The first chapter aims at estimating the causal relationship between malnutrition and school achievement among Malagasy children enrolled in primary school. Rainfall shocks during the first years of a child’s life are used as exogenous instruments to predict the long-term nutritional status. Results indicate that stunting is a significant obstacle to learning. The second chapter investigates the effect of food distribution cycle on refugee households’ consumption. Results suggest that the more distant thefood distribution, the less important is household’s consumption of cereals. The effect is sufficiently large to impact children short-term nutritional status. The third chapter takes advantage of a panel database of a cohort of Malagasy young adults to estimate a cognitive skills production function with a value-added approach. Results highlight the large role of schooling in the acquisition of cognitive skills

The master’s project consists of two parts: the journalistic part Project Awaiting (texts) including four journalistic genres and the subsequent Research Report Project Awaiting. These are 23 pages and 32 pages respectively.

Кваліфікаційна робота присвячена проблемам та перспективам гармонізації законодавства України та Європейського союзу щодо податку на додату вартість (ПДВ). Автор аналізує зобов’язання щодо вдосконалення справляння та відшкодування ПДВ, взяті Україною внаслідок підписання Угоди про Асоціацію між Україною, з однієї сторони, та Європейським Союзом, Європейським співтовариством з атомної енергії і їхніми державами-членами, з іншої сторони, ратифіковану Україною 16 вересня 2014 року. Особлива увага приділяється податковим актам acquis communataire, у відповідність до яких Україна повинна привести своє законодавство протягом найближчих п’яти років. На основі порівняння поняття “платник ПДВ” , поняття “місце постачання послуг”, видів операцій, що оподатковуються ПДВ, способів визначення дати виникнення податкових зобов’язань; способів визначення місця поставки товарів; способів визначення бази оподаткування; розмірів базової, зниженої та пільгової ставок ПДВ; операцій, що оподатковуються за базовою, зниженою та пільговою ставками; підстав зменшення ставки податку та обов’язків платників податків в Податковому кодексі України та праві ЄС автор робить висновок про перспективи гармонізації вітчизняного законодавства щодо справляння та відшкодування ПДВ і податкового права ЄС.
В квалификационной работе анализируются проблемы и перспективы гармонизации законодательства Украины и Европейского союза о налоге на добавочную стоимость (НДС). Автор анализирует обязательства об усовершенствовании взыскания и компенсации НДС, взятые Украиной в следствие подписания Соглашения об Ассоциации между Украиной, с одной стороны, и Европейским союзом, Европейским содружеством по атомной энергии и их государствами-членами, с другой стороны, радифицированного 16 сентября 2014 года. Особенное внимание уделяется актам acquis communataire, в соответствие с которыми Украина обязуется привести свое законодательство в течение ближайших пяти лет. На основе сравнения понятия “плательщик НДС”, понятия “место предоставления услуг”, видов операций, облагаемых НДС, способов определения даты возникновения налоговых обязательств, способов и места поставки товаров, способов определения базы налогообложения, размера базовой, сниженной и льготной ставок НДУ, операций, облагаемых базовой, сниженной и льготной ставками; оснований для уменьшения ставки налога и обязанностей плательщиков налога в Налоговом кодексе Украины и праве ЕС автор делает вывод о перспективах гармонизации отечественного законодательства о взыскании и компенсации НДС и налогового права ЕС.
Prospects for the harmonization of Ukrainian and European Union value added tax (VAT) legal regulations are examined. The authors argue Ukrainian’s obligations resulting from the ratification on the September, 16, 2014 of the Association Agreement between the European Union and its Member States, of the one part, and Ukraine, of the other part (the Agreement) should lead to the substantial changes in the Ukrainian VAT legal regulation. The authors pay special attention to the European Union tax legislation Ukrainian tax legislation should be harmonized with during the next 5 years: Council Regulation (EC) No 1186/2009 of 16 November 2009 setting up a Community system of reliefs from customs duty; Thirteenth Council Directive 86/560/EEC of 17 November 1986 on the harmonization of the laws of the Member States relating to turnover taxes - Arrangements for the refund of value added tax to taxable persons not established in Community territory; Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax; Council Directive 2007/74/EC of 20 December 2007 on the exemption from value added tax and excise duty of goods imported by persons travelling from third countries. The authors examine gaps in Ukrainian VAT legal regulations should be remedied in accordance with the Agreement. On the basis of comparison of “taxable person” concept, “place of transaction” concept, subject to value added tax, “chargeable event” concept, “chargeability of tax” concept, taxable amount, kinds of rates of value added tax, special tax arrangements, taxable person’s obligations and refund of the tax and other provisions authors come to the conclusion about prospects for the harmonization of Ukrainian and European Union VAT legal regulations.

The Zimbabwean refugees sheltered at Holy Cross Church* in central Johannesburg have taken the initiative to develop their own curriculum. There have been many orientations to curriculum development with current reconceptualisations emphasising practical and descriptive curriculum development approaches. This research is framed specifically by Walker’s naturalistic curriculum development model, the community-based approach to education development, literature on refugee education and generally by broader theories of curriculum. The study employed the ethnographic research method and gathered data through non-participant observation, interviews and document analysis. Taking a wider approach to curriculum development and in the context of displaced people, the research redefined the term curriculum developer to mean ordinary people and refugees in their communal social setting. This study provides an analysis and description of how the refugees successfully initiated and developed effective learning and training programmes which resulted in the establishment of a school, early childhood, adult-education and vocational training centres. The refugee meetings and school council deliberation forums guided by common values and political, social and economic factors made practically defensible, education and training resolutions on language, school policies, curriculum options, pedagogy, knowledge and certification issues. On the forms of refugee-emergency education, the refugee school curriculum followed that of the country of origin, with some minor modifications thereby preparing learners for return to their country. The training programmes utilised a slightly adjusted curriculum of the host country in synergies with local private colleges and prepared the refugees to integrate into the host country’s economic communities. To improve the quality of education and training at Holy Cross there is need for intervention from government and international humanitarian organisations. In addition to the academic curriculum, subjects with a social reconstructionist ideology, double-shift schooling and democratic teaching and learning approaches must be introduced as well as awarding refugees with regionally recognised training certificates.

A presente dissertação foca-se em métodos inovadores para a bio-secagem do Combustível Derivado de Resíduos (CDR) produzido na linha de Tratamento Mecânico de Biológico (TMB), na VALNOR SA. O CDR representa 25 a 35% dos resíduos indiferenciados tratados numa unidade de TMB e que resulta do refugo e rejeitados retirados na linha de triagem mecânica e no processo de afinação do composto orgânico. O CDR pode ser utilizado como combustível alternativo ao combustível fóssil em centrais de co-geração e/ou cimenteiras. No caso da indústria cimenteira, a secagem do CDR é fundamental (a humidade média é de 40 a 50% e, terá de se reduzir para 20% ou inferior) de modo a aumentar o seu Poder Calorífico Inferior (PCI), para maior eficiência energética no processo produtivo nos fornos do clínquer e dar cumprimento à redução de utilização dos combustíveis fósseis que a União Europeia pretende. Com este trabalho, contribuiu-se com mais um passo no sentido de se viabilizarem as melhores opções técnico-ambientais e económicas para se cumprirem os objetivos prioritários no domínio da valorização dos resíduos passando a ser um recurso ou produto. Com efeito a substituição do combustível fóssil por um combustível alternativo do tipo do CDR não só se traduz em benefícios ambientais, nomeadamente a redução de deposição em aterro, a redução das emissões de Gases com Efeito de Estufa (GEE) e o cumprimento dos objetivos e metas do Plano Estratégico para os Resíduos Sólidos Urbanos (PERSU) 2020, como também enquadra evidentes vantagens económicas enquanto recurso alternativo e minimiza o valor do instrumento financeiro da Taxa de Gestão de Resíduos (TGR) que se prevê aumentar significativamente até 2020 no que respeita à deposição de resíduos/refugos/rejeitados em aterro.

This thesis aims to prove or disprove the hypothesis that the media (Mlada fronta DNES and Lidové noviny), owned by a group of MAFRA, creates the media image of a migratory crisis consistent with the preview of the owner Andrej Babis. This thesis examines articles in the newspapers using quantitative content analysis on this topic appearing between March- December 2015. The theoretical section consists of two chapters; first dealing with the media image and the design of the media mechanism and second, introducing the terminology of migration and migration policy. The Thesis also includes the contextual information, capturing and describing the European migration crisis on the basis of these findings and constructed in the design research. The analytical part incorporates knowledge of quantitative analysis and research positions A. Babis. The conclusion answers the research questions that are for the purpose of writing this paper. This work is based on the relevance of the topic and the possible transformation of attitudes of political parties in the coming elections. Keywords: Media representation, migration crisis, refugees, MAFRA, Babiš, migration, media content analysis, ANO 2011, elections, news values