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  • 1.
    Ampuero Mellado, Carolina
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Laietu, Alexandra
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Compensation and company performance within the banking sector: A case study on Chief Executive Officer compensation in relation to company performance measures2009Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    CEO compensation is a relevant topic in today's society that touches both political and economic questions which are of interest for the whole general public. It affects people indirectly through CEOs actions and how these actions affect company performances. Due to the fact that there is a financial crisis, this thesis has its aim to catch some light over CEO compensation and its relation to company performances, if there is one.

    The purpose was to investigate if we could find a relation between CEO compensation and company performances by using variables which we considered significant for this study. These variables are collected from each company's annual reports and which we have chosen to focus on the two past years 2007 and 2008, as it is the most recent data. For the principle of our thesis a combination of qualitative and quantitative methods was applied, to best suite the purpose. When finding a sustainable and significant result, regressions of different variables from the annual reports were drawn and the outcomes of these were interpreted and analyzed. Our findings show that turnover is the only variable which indicated any significant p-value in the regressions drawn. Of all regressions three show significance and all arerelated to turnover. Given these results we can conclude that the other variables are not related to the CEO compensation in this case study.

  • 2.
    Arabi, Alireza
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Saei, Maziar
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Simple foreign currency option Hedge strategies A comparison of Option contracts versus Forward contracts2010Independent thesis Basic level (degree of Bachelor), 15 poäng / 22,5 hpOppgave
    Abstract [en]

    The use of currency options has been grown widely during the latest years. This paper tries to answer whether hedge strategies using currency options are superior to forward exchange contracts or not.

  • 3.
    Castoe, Minna
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Sanyal, Aalekhya
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    The Impact of Immigration on Income Inequality: Evidence from Sweden and the United States2019Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    This paper studies data from a 25-year period in the history of Sweden and the US, ranging from 1993 to 2017. The aim of the thesis was to investigate the impact of immigration on the income inequality of the respective countries while also considering the impact of other specific variables. In order to estimate the impact of the variables, both static and dynamic models were used, with the Gini coefficient being the dependent variable. With the ordinary least square giving short-run estimates and the error correction model providing short- and long- run estimates simultaneously, the main variable for immigration, being the foreign-born population, showed a strong positive relationship with income inequality. For the estimation, the immigration variable was also split into high- and low-skilled immigrants as well as different age groups. In conclusion, we find that immigration in Sweden and the US has high levels of influence on the income inequality for both countries.

  • 4.
    Chuikina, Viktoriya
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Fard, Sara
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    The effects of immigration on unemployment: A case study of Sweden and the UK2012Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    Problem: The creation of the European Union gave people the right of free movement between the membership countries. In theory, the creation of a single market should create many additional employment and earning opportunities for the workers in the member states of the EU (Bauer & Zammermann, 1999 cited at Borjas, 2010). Some natives believe that an increase in immigration will post a threat to them. They believe that their wages will go down and jobs will be taken from them. Is this true or is it just a sign of xenophobia?

    Purpose of the Research: The purpose of this study was to replicate successfully the study: “Examining the Relationship between Immigration and Unemployment Using National Insurance Number Registration Data” by Lucchino, P., Rosazza – Bondibene, C., and Portes, J. from 2012. Then the same research methods were used in Swedish data analysis.

    Methods: Data on unemployment and immigration was collected from Sweden and the UK and multiple regressions were run using the STATA11 software.

    Conclusion: The immigration rate had no significant affect on the unemployment rate both in the UK and Sweden. However, adding a one year lagged immigration rate was found to be significant at a 5% significance level in the Swedish analysis, but was insignificant in the UK analysis. The control variables for labor supply proved to be insignificant in the analysis of both countries.

  • 5.
    Duggal, Rahul
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Shams, Tawfiq
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Modern Portfolio Trading with Commodities2010Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    There is a big interest for alternative investment strategies than investing in traditional asset classes. Commodities are having a boom dynamic with increasing prices. This thesis is therefore based on applying Modern Portfolio Theory concept to this alternative asset class.

    In this paper we manage to create optimal portfolios of commodities for investors with known and unknown risk preferences. When comparing expected returns to actual returns we found that for the investor with the known risk preference almost replicated the return of the markets. The other investor with unknown risk preference also profited but not as efficient as the market portfolio.

  • 6.
    Ekman, Mats
    Hanken School of Economics, Finland.
    A Coasian Solution to Problems of Initial Acquisitions2017Inngår i: Erasmus Journal for Philosophy and Economics, ISSN 1876-9098, E-ISSN 1876-9098, Vol. 10, nr 2, s. 45-60Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    This article extends the Coase Conjecture to ethical issues of initial acquisitions of property rights. The Coase Conjecture complements the Lockean labour-mixing criterion to limit the boundaries of morally legitimate initial acquisitions of unowned property; whenever the Coase Conjecture applies, the Lockean Proviso that there be “enough and as good” left is automatically satisfied. This holds provided that, when a claim is made, the marginal willingness to pay for the last portion of it is zero (infra-marginally, willingness to pay may be arbitrarily high). Thus, the market price of the claim is zero, except for the part of it that the claimant inhabits or improves. “Excessive” claims therefore come to have a zero market price, so anyone may take possession of them, by purchase or theft. In either case they must compensate the original claimant by a zero amount. It follows that non-claimants do not lose by putatively “excessive” grabs by claimants. This article argues that any initial claims are just under these circumstances.

  • 7.
    Ekman, Mats
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Advance Voting and Political Competition2019Konferansepaper (Annet vitenskapelig)
    Abstract [en]

    This paper appears to be the first to analyse political campaign incentives when the electorate vote at different moments before Election Day, a phenomenon known as early or advance voting. Many jurisdictions accommodate such voting by accepting mail-in ballots or by opening polling places before Election Day. Since politicians can thereby add campaign promises while citizens vote, they have an incentive to add promises valued by late-voting segments as Election Day approaches. This implies that early-voting segments of the electorate will pay higher taxes and receive lower transfers than had been announced when they voted. Late-voting segments benefit.

  • 8.
    Ekman, Mats
    Hanken School of Economics, Finland.
    Puzzling Evidence on Voter Turnout2017Inngår i: Rationality and Society, ISSN 1043-4631, E-ISSN 1461-7358, Vol. 29, nr 4, s. 449-470Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In this empirical analysis of voting patterns in five countries on days when one or more national referenda were held, voter turnout appears to decline in the number of concurrent referenda, in contrast to standard theories’ predictions and regardless of method used to hold constant the quality of the referenda. Multiple concurrent referenda imply ‘quantity discounts’ as one may vote on more ballots in one visit to the polling station. They should also draw more voters due to the wider range of interests attracted when more issues are up for vote. Yet, none of this seems to happen in the data. More recent developments, such as rule utilitarian and information-based theories of voting, fare similarly poorly in light of the evidence presented in this article; a social theory of voting does better.

  • 9.
    Eriksson, Clas
    SLU, Uppsala.
    A Knife-Edge Property of Some Pollution-and-Growth Models2008Konferansepaper (Fagfellevurdert)
    Abstract [en]

    In some recent economic growth models there can be decreasing pollution along with increasing per capita income, if the rate of improvement in the environmenta ltechnology is sufficiently high. A central function describes how gross pollution and environmental technology interact to determine net pollution, which in the previous works has a log-linear form. This letter provides an example in which this function is generalized to a CES type. The result is that the environmental technology factor in the long run may be either implausibly potent or almost ineffective in transforming a high gross pollution to a low net pollution if the function deviates from the log-linearcase.

  • 10.
    Eriksson, Clas
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Economic Growth and the Environment: An Introduction to the theory2013Bok (Fagfellevurdert)
    Abstract [en]

    This book explores the debate on how to reconcile economic growth with protection of the natural environment, and the closely related discussion on whether an increasing scarcity of natural resources will eventually force economic growth to cease. The debate focuses on whether environmental policies will benefit the economy or not, and is divided into growth optimists and growth pessimists. In general, economists have been optimistic and have pointed to the possibilities of technological progress and substitution, yet they also acknowledge that natural resources and environmental concern do restrict economic growth. The difficulty lies in quantifying the constraint to economic growth. Modern growth economists have constructed models to examine to what extent 'growth pessimism' is theoretically warranted. This book provides an introduction to some of these models, brings together the discussion between growth optimists and pessimists, and presents the theory behind their arguments. It presents models where both sides can meet and where both are able to derive expected results with the parameter values that they deem appropriate. From there, the discussions can turn to the empirical observations about these parameters.

  • 11.
    Eriksson, Clas
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Home bias in preferences and the political economics of agricultural protection2011Inngår i: Review of Agricultural and Environmental Studies, ISSN 1966-9607, Vol. 92, nr 1, s. 5-23Artikkel i tidsskrift (Fagfellevurdert)
  • 12.
    Eriksson, Clas
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Phasing Out a Polluting Input2015Konferansepaper (Fagfellevurdert)
    Abstract [en]

    This paper explores economic policies related to the potential conflict between economic growth and the environment. It applies a model with directed technological change and focuses on the case with low elasticity of substitution between clean and dirty inputs in production. New technology is substituted for the polluting input, which results in a gradual decline in pollution along the optimal long-run growth path. In contrast to some recent work, the era of pollution and environmental policy is here not just a transitory phase in economic development. The optimal policy includes a perpetual subsidy to `green' research. The tax rate of pollution is monotonously increasing, while the pollution tax payments constitute a constant share of income. These policies result in a quite modest growth drag.

  • 13.
    Eriksson, Clas
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Lindén, Johan
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Papahristodoulou, Christos
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Human Capital and Innovations2017Konferansepaper (Fagfellevurdert)
    Abstract [en]

    This paper explores the interaction between human capital and innovations in the process of economic growth. Using a model of endogenous economic growth, the focus of our analysis is on the incentives to acquire human capital and how they are affected by taxes on human capital and other policy instruments. In contrast to many other growth models we find that the taxation on human capital has a substantial negative effect on the accumulation of it. This in turn lowers the income growth rate. While subsidies to research and to intermediate inputs have positive effects on growth (and must be strictly positive in social optimum), they do not necessarily imply that there will be larger stock of human capital in the economy. If the elasticity of intertemporal substitution in consumption is sufficiently low, these policy instruments stimulate growth by inducing a reallocation of a shrinking stock of human capital in the direction of research.

  • 14.
    Eriksson, Clas
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Persson, Joakim
    Linköping University.
    Democracy, income and pollution2013Inngår i: Environmental Economics and Policy Studies, ISSN 1432-847X, E-ISSN 1867-383X, Vol. 15, nr 3, s. 291-308Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Empirical evidence suggests that increased democracy reduces pollution. Using a median-voter model (where a democratization reform typically changes the income of the median voter), we analyze how the effect of a change of the individual income differs from the effect of a change in the economy-wide productivity in the determination of pollution. We find that a democratization reform that brings poorer groups into the franchise leads to lower pollution only if the elasticity of the marginal utility of consumption, σ, is smaller than unity. At the same time, the EKC literature suggests that a country tends to improve aspects of the environment as its per capita income rises, at least when it is above some critical level. For the model to be consistent with this observation, when σ < 1, the transformation function between income and pollution must be generous, i.e. little income has to be given up as pollution is reduced. © 2013 Springer Japan.

  • 15.
    Eriksson, Kimmo
    et al.
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation.
    Simpson, Brent
    University of South Carolina.
    Emotional reactions to losing explain gender differences in entering a risky lottery2010Inngår i: Judgment and decision making, ISSN 1930-2975, E-ISSN 1930-2975, Vol. 5, nr 3, s. 159-163Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    A gender difference in risk preferences, with women being more averse to risky choices, is a robust experimental finding. Speculating on the sources of this difference, Croson and Gneezy recently pointed to the tendency for women to experience emotions more strongly and suggested that feeling more strongly about negative outcomes would lead to greater risk-aversion. Here we test this hypothesis in an international survey with 424 respondents from India and 416 from US where we ask questions about a hypothetical lottery. In both countries we find that emotions about outcomes are stronger among women, and that this effect partially mediates gender difference in willingness to enter the lottery.

  • 16.
    Eriksson, Kimmo
    et al.
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation.
    Strimling, Pontus
    Stockholm University.
    The devil is in the details: Incorrect intuitions in optimal search2010Inngår i: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 75, s. 338-347Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    n the classic Secretary Problem it has been established that people tend to search somewhat less than is optimal, and a number of explanations have been suggested. Here we propose a new explanation, the Similar-But-Incorrect Intuitions Hypothesis, which says that suboptimal search behavior is to be expected because optimal strategies vary disproportionately with subtle details of the search problem setup, whereas people seem to entertain general intuitions about optimal search. We find support for this hypothesis in experiments on a new search problem, the Explore-and-Collect Problem, where the player collects utility from an option every time it is tried and options can be recalled. Although the optimal search effort in this problem is much smaller than for the Secretary Problem, people tend to search only marginally less. This is not predicted by previous explanations for suboptimal search.

  • 17.
    Eriksson, Kimmo
    et al.
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation.
    Strimling, Pontus
    Stockholm University.
    The hard problem of cooperation2012Inngår i: PLoS ONE, ISSN 1932-6203, E-ISSN 1932-6203, Vol. 7, nr 7, s. e40325-Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Based on individual variation in cooperative inclinations, we define the “hard problem of cooperation” as that of achieving high levels of cooperation in a group of non-cooperative types. Can the hard problem be solved by institutions with monitoring and sanctions? In a laboratory experiment we find that the answer is affirmative if the institution is imposed on the group but negative if development of the institution is left to the group to vote on. In the experiment, participants were divided into groups of either cooperative types or non-cooperative types depending on their behavior in a public goods game. In these homogeneous groups they repeatedly played a public goods game regulated by an institution that incorporated several of the key properties identified by Ostrom: operational rules, monitoring, rewards, punishments, and (in one condition) change of rules. When change of rules was not possible and punishments were set to be high, groups of both types generally abided by operational rules demanding high contributions to the common good, and thereby achieved high levels of payoffs. Under less severe rules, both types of groups did worse but non-cooperative types did worst. Thus, non-cooperative groups profited the most from being governed by an institution demanding high contributions and employing high punishments. Nevertheless, in a condition where change of rules through voting was made possible, development of the institution in this direction was more often voted down in groups of non-cooperative types. We discuss the relevance of the hard problem and fit our results into a bigger picture of institutional and individual determinants of cooperative behavior.

  • 18.
    Farid, Tavos
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    How Elderly Population Affects Economic Growth. An empirical approach on Nordic countries2018Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
  • 19.
    Funcke, Alexander
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation. Stockholm University.
    Instilling norms in a turmoil of spilloversManuskript (preprint) (Annet (populærvitenskap, debatt, mm))
  • 20.
    Funcke, Alexander
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation. Stockholm University.
    Making empathy obsoleteManuskript (preprint) (Annet vitenskapelig)
  • 21.
    Funcke, Alexander
    et al.
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation. Stockholm University.
    Eriksson, Kimmo
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation. Stockholm University.
    Strimling, Pontus
    Institutet för Framtidsstudier.
    Biased perception may trump rational intention: Most people think they are less corrupt than averageManuskript (preprint) (Annet vitenskapelig)
  • 22.
    Gamalielsson Lindberg, Julia
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Svensson, Erica
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Factors Affecting Earnings: A Research on American Data2018Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    During a lifetime an individual is faced with the decision whether or not to pursue additional years of education, and one may ask if this will generate some sort of payoff, for example, if higher earnings is to be received later in life. The aim of this paper is to investigate how an individual’s earnings is affected by the amount of years one spends in school and also to see if gender and experience are contributing factors. We will investigate these relationships by first introducing the two theories “Human Capital” and “The Mincer Equation”. These build upon each other and are connected. Thereafter, modifications of the Standard Mincer equation will develop our four different regression equations. These regressions will be run on an American cross-sectional data set, by use of the Ordinary Least Squares (OLS).

    Our chosen explanatory variables do affect earnings and the specific data set shows that additional years of schooling do increase earnings. We also found a distinct difference in hourly earnings between men and women.

  • 23.
    Herre, Lars
    et al.
    Kungliga Tekniska Högskolan (KTH), Sweden.
    Kovala, Tommy
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Söder, Lennart
    Kungliga Tekniska Högskolan (KTH), Sweden.
    Papahristodoulou, Christos
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    ON THE FLEXIBILITY OF ELECTRICTY CONSUMERS: Modelling, Quantification and Analysis of Notice Time2016Konferansepaper (Fagfellevurdert)
    Abstract [en]

    Power systems with a large share of inherently intermittent renewable energy sources require new approaches to system operation. Demand response is seen as a potential possibility for contributing to maintaining power balance in a future energy system with large amounts of volatile renewable energy generation (Bartusch et al., 2011; Torriti, Hassan & Leach, 2010). It would be a measure to reduce costs for maintaining the power balance, which is believed to become more expensive if traditional measures is to handle the increasing intermittency (Albadi & El-Saadany, 2008; Kirschen, 2003; Siano, 2014). The study of the flexibility of electricity demand is an essential key to exploring the current and future potential of demand side response for power system services.  

    For both solar and wind power, forecasts for several hours ahead may have a lower accuracy. Statistically, the forecasts become better the closer they approach real operation. In practice however, this does not happen in each case. This means that the flexibility need for a certain hour will be different, depending on when the need is identified, i.e. different notice times.

    For consumers to be flexible, there are several parameters that impact their ability and willingness to react to incentives with a change of load. Elasticity (self- and cross-elasticity) has been defined in literature to describe consumer flexibility with respect to a change of electricity price and is often referred to when modelling the flexibility of consumers (Albadi & El-Saadany, 2008; Lijesen, 2007). Flexibility with respect to electricity prices or other financial incentives has been widely studied in literature on smart grids and demand response.

    Another important parameter for electric demand to be flexible is the notice time, i.e. the time span between informing the consumer about a future need for reorganizing their consumption and providing a change of consumption as a system service. The impact of notice time on the flexibility of electricity consumers has not yet been systematically researched. It is logical that the willingness and ability of certain consumers to provide flexibility decreases as notice time becomes shorter. There are, however, some loads that even may become more flexible, the shorter the notice time, such as e.g. the charging of electric vehicles.  

    An essential basis for flexible consumers is the communication infrastructure that is used for sending price signals, bids and further market parameters depending on the demand response program. The type and information content of such communication is enabled through technological devices. These smart devices – which in most cases must exceed the function of only smart metering (Siano, 2014) – can have different properties and requirements that are determined by the demand response program and its respective requirements on data exchange. Therefore, the technological implementation and the impact of the limitations originating from the same are discussed in this study as well.  

    For a quantitative analysis of customer flexibility, both price and notice time are imperative parameters. Former has been studied in numerous references (Bartusch et al., 2011; Gyamfi, Krumdieck & Urmee, 2013; Kirschen et al., 2000; Lijesen, 2007) whereas the impact of the latter has not yet been examined in depth. In this paper, a study on consumer flexibility with respect to notice time is presented. It is analyzed how the ability to reschedule electricity demand during a time interval in the future is impacted by terms of notifying and updating flexible consumers. For this, a market and demand response program optimizing social welfare is developed that allows for an analysis of notice time dependent consumers.

  • 24.
    Jonsson, Robin
    Mälardalens högskola, Akademin för utbildning, kultur och kommunikation.
    Optimal Linear Combinations of Portfolios Subject to Estimation Risk2015Independent thesis Advanced level (degree of Master (Two Years)), 20 poäng / 30 hpOppgave
    Abstract [en]

    The combination of two or more portfolio rules is theoretically convex in return-risk space, which provides for a new class of portfolio rules that gives purpose to the Mean-Variance framework out-of-sample. The author investigates the performance loss from estimation risk between the unconstrained Mean-Variance portfolio and the out-of-sample Global Minimum Variance portfolio. A new two-fund rule is developed in a specific class of combined rules, between the equally weighted portfolio and a mean-variance portfolio with the covariance matrix being estimated by linear shrinkage. The study shows that this rule performs well out-of-sample when covariance estimation error and bias are balanced. The rule is performing at least as good as its peer group in this class of combined rules.

  • 25.
    Jonsson, Robin
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Radeschnig, Jessica
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    From Market Efficiency to Event Study Methodology: An Event Study of Earnings Surprises on Nasdaq OMX Stockholm2014Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    The analysis of market efficiency helps researchers and investors to better understand the complexities of the financial market. This report tests market efficiency at the semi-strong degree by employing an event study with focus on surprises in quarterly earnings-announcements made by companies that are publicly listed on Nasdaq OMX Stockholm. The surprises are determined by comparing the earnings per share with its consensus estimate, for two positive and one negative panel respectively. The report also provides a robust methodology description of event studies in general, likewise a broad discussion about different types of biases that might occur. For determining estimated abnormal returns the market model is adopted, as most commonly done in event studies. The panels are statistically evaluated by the use of a non-parametric rank test and economically through cumulated abnormality. The authors statistically find semi-strong market inefficiency through the negative panel, as well as for the small positive panel when economical inferences are taken into account, where a slight post announcement abnormal return can be achieved. The same could not be implied for the large positive panel.

  • 26.
    Karabona, Patrick
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Koutun, Alina
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    An Empirical Study of the Solow Growth Model2013Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
  • 27.
    Kigha Nubitgha, Franklin
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Farshad, Farzadi
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    EMPIRICAL INVESTIGATION OF THE NEXUS BETWEEN FOREIGN  DIRECT INVESTMENT AND ECONOMIC GROWTH IN AFRICA2013Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
  • 28.
    Kovala, Tommy
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Deciding about electricity usage: A thesis on market incentives to steal focus from electricity consumers2016Konferansepaper (Annet vitenskapelig)
    Abstract [en]

    The electricity systems in the world will go through dramatic development to reach the sustainable and fully-renewable state of which politicians aim for. Flexibility is a key-word in such a system, and to achieve high levels of flexibility in a cost-efficient way the demand-side of the electricity system and electricity market has to be activated, the common name for this approach is Demand Response. The purpose in the thesis proposal is to analyse the ways residential electricity consumer-behaviour can be changed, depending on the setup of the Demand Response program implemented in the electricity market, and in turn predict the potential flexibility of consumers in Swedish electricity system context. The analysis will contribute to the development of consumer behaviour research for markets connected to infrastructural systems, with its focus on market setup parameters beyond market price, specifically incorporating multiple aspects of time. The main research topics which could contribute to this analysis are primarily economic preference theory together with bounded rationality incorporating aspects of time and intuitive decisions. The analysis is built up by an understanding of the context of these decisions through service management theory in the specific practice of a national infrastructure. These theories have all been used separately to understand market behaviour and will be combined in this interdisciplinary analysis of future behaviour on the electricity market.

  • 29.
    Kovala, Tommy
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Flexibla elkunders roll i ett framtida förnybart kraftsystem: Hur kommer framtidens elkunder besluta om sin elanvändning?2016Konferansepaper (Annet (populærvitenskap, debatt, mm))
    Abstract [sv]

    Erbjud elkunderna rätt service!

    Framtidens elkunder kommer möta ett bredare utbud av tjänster, avtal och produktpaket som bland annat ska kunna uppmuntra en högre grad av efterfrågeflexibilitet. En av flera viktiga aspekter för hur elkunderna kommer agera, är marknadens signal för efterfrågeflexibilitet. Bland annat är elkundernas möjlighet att planera och förbereda sin flexibilitet en mycket intressant variabel för den framtida efterfrågeflexibilitetens potential.

  • 30.
    Kovala, Tommy
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Framtidens energi.
    This electricity price is too high for my household: Why are some households sensitive to the electricity price, when others barely are sensitive at all?2017Konferansepaper (Annet vitenskapelig)
    Abstract [en]

    The key-solution for a sustainable electricity system is demand flexibility. If we use technology to distribute the information, demand flexibility could be incentivized by dynamic pricing, so that real problems and costs in the electricity system become transparent for electricity consumers.

    Utilities and electricity retailers have tried to offer such contracts before, but deemed the necessary educative interventions for consumers too expensive and retreated to nominal price competition (Flaim et al., 2013). Using a questionnaire, collecting intentions for demand flexibility, we reveal that lacking knowledge is just one of many areas that could be targeted with interventions.

  • 31.
    Lahdenperä, Jori
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Humayoun, Shehzad
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    The International Monetary Fund (IMF) & World BankStructural Adjustment Programs: Review study of adjustment-aid theory2010Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    Monetary funding to developing countries is today accompanied by so called “Structural Adjustment Programs” (SAPs) imposed by the IMF and the World Bank, consisting of economical policy reforms that the countries have to undergo in order to be eligible for loans. The impact of these adjustment loans is widely criticized due to the negative effects observed. Our purpose is to investigate in depth why these adjustment programs have not delivered the expected results. We’ve found that there exist some undesirable consequences following SAP implementation that has a hindering effect on growth. These, combined with the complicate context in which the IMF and World Bank operates can be seen as the explanation for the adversity experienced.

  • 32.
    Liu, Guanting
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    P2P LENDING MARKET: DETERMINANTS OF INTEREST RATE AND DEFAULT RISK2019Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    The peer to peer (p2p) lending industry has grown fast in recent years. This study put an eye on the credit evaluation system of one of the p2p platform named lending club. The author used the empirical method and discussed the determinants of the interest rate and the default risk in the p2p lending market. The author concluded that the evaluation system founded by lending club could predict the risk of loans. Collecting more information about borrowers’ credit history may increase the accuracy of the model.

  • 33.
    Liu, Xi
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Some empirical studies on Solow-type growth models2012Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
  • 34.
    LU, CHAO
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    YUAN, BO
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    WANG, MANHENG
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Savings, Investments and Growth Rates2013Independent thesis Basic level (degree of Bachelor), 15 poäng / 22,5 hpOppgave
    Abstract [en]

    Aims: In this article, we will apply the multinational view to explore the relationships between saving, investment and economic growth. We will explore the dynamic relationship among these three factors from the empirical perspective. We are going to compare the mutual influence among these three factors and try to figure out the dynamic correlation. And find out the factors that influence economic growth the most in the short run and long run respectively.

     

    Method: For the research purpose and the contents, our article applies several methods such as literature research, quantitative research, comprehensive analysis and logical induction and comparison research. We separate two parts to analysis. In the first part we will use the stepwise regression method to prove our five assumptions and through path analysis to calculate path coefficient. In order to guarantee the stability of these data, these indexes apply the average value of 214 countries from 2000 to 2011. In the second part, we will use a Cobb-Douglas production model to figure out the long run economic growth behavior, we will introduce the concept of total factor productivity. And use the data of a sample space of 35 in the interval of 1975 to 2009.

     

    Limitations: Firstly, the paper didn’t investigate datum on further step, or has deeper proceeding of default datum, the data quality might occur to important influence to the conclusion, it did need to take cautious attitudes. Secondly, the paper acquires relative simple control variables, where default datum of control variable might induce strong influence on the conclusion, thus a deeper analyses need take many various factors into considerations, in order to analyze net effects of two variables. Thirdly, it clarifies from the degree of fitting, the paper using relative simple model, and does affect quality of the process, to get deeper analyze then needs more precious model for further analyze.

     

    Conclusion: This paper provided evidence to show economic growth is positive related to saving and investment and is negative to income level. Saving rate is positive related to income level and positive related to investment level, saving rate has indirect effect on economic growth, and saving rate has indirect effect on economic growth via investment rate. And there is a close relationship between investment and economic growth. Solow residual indicates that we will have to rely on the technology progress to increase efficiency in the long run.

  • 35.
    Machacny, Michaela
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Hallbäck, Ismael
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Students saving: What are the governing factors of students saving?2018Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    Problem: Few studies regarding savings among students have been conducted, particularly studies looking at students in Sweden, as the general assumption is that students cannot save.

     

    Purpose: Investigate what factors may affect students saving behavior

     

    Method: The thesis will be done by a quantitative and deductive approach. To investigate what factors affect students saving we conducted several hypotheses tests through regression analysis.

     

    Result and Conclusion: The investigation showed that through our estimates we were able to find three significant variables at a 5% level; Income, Worked Before and Saving Before and a general fit of the model of 16.36%. One possible explanation for the poor fit is the complexity of human behavior and thusly that it is hard to explain.

     

    Keywords: Students, saving, consumption theory, statistics, age, behavioral, finance

  • 36.
    Milestad, Cecilia
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Zars, Pär
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Hållbar stadsutveckling: En jämförande studie av hållbara bostadsprojekt och miljöindikatorer2009Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [sv]

    PROBLEM: Miljöfrågor innefattar ofta komplexa samband som är svåra att analysera och presentera på ett enkelt sätt utan att göra grova förenklingar. Därför finns det ett behov av verktyg som är lättanvända utan att för den skull gör avkall på transparens och nyansering av resultat. Med fortskridande urbanisering blir hållbar stadsutveckling en avgörande faktor i arbetet för en hållbar utveckling.

    SYFTE: Syftet med denna uppsats är att undersöka två verktygs lämplighet för att fram­ställa indikatorer för hållbar stadsutveckling. Dessa indikatorer används sedan för att utvärdera miljöpåverkan från uppvärmning i fyra bostadsprojekt med tydlig miljöprofil.

    METOD: Tillvägagångssättet är en induktiv metod där vi har samlat in empiriska data för att analysera dessa och komma fram till ett resultat.

    RESULTAT: EFFem är ett transparent och lättanvänt verktyg att använda för att skapa indi­katorer som visar på undersökta projekts hållbarhet. Resultaten är nyanserade men inte alltid entydiga. SGA kan användas för att analysera enstaka aspekter av hållbarhetsprojekt såsom vi gjort i denna uppsats. I sitt nuvarande tillstånd är SGA emellertid inte lämplig att använda för mer omfattande analyser av projekts hållbarhet då den inte uppfyller kraven gällande källor och trans­parens. Slutligen har de mindre bostadsprojekten, framförallt Jöns Ols, en lägre miljöpåverkan per lägenhet och person jämfört med de större projekten.

  • 37.
    Nasir, Samia
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Larsson, Elina
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    The impact of immigration on the Swedish Economy2018Independent thesis Basic level (degree of Bachelor), 15 poäng / 22,5 hpOppgave
    Abstract [en]

    The flow of immigrants between Europe and many other countries is often brought up in the discussion of the labor market. It is also questioned whether an increased immigration is beneficial for the society and the economy of the receiving country.

    This paper is an investigation of the above-mentioned problem “does immigration benefit a country’s economy and what are the effects of immigration on the economy?”. Furthermore, we will especially look at how immigration benefits the natives in the country with respect to labor and capital income. We will also investigate if there is a difference in education and skills between immigrants and natives and we will also examine the consequences of this. The discussion about benefits and liabilities to the society that has arisen, due to the welfare effects in the economy, will also be brought up and analyzed.

    The thesis work will mostly be a study of theoretical findings, where we will discuss the previous researches and important models, for instance Borjas (1999), who uses a model that gives a solid result of how much natives benefit from immigration in term of labor and capital earnings. To support the theoretical part, we have gathered the data from Eurostat and Swedish migration Authority, which will help to find some empirical results as well. This paper also includes a regression model that measures the change in the unemployment rate where the independent variables are GDP growth rate and immigration inflow.

  • 38.
    Nikolic, Marko
    et al.
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Homsi, Miriam
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    Negative Interest Rates Effect Economic Stability2018Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    Today's monetary policy is a historic one, where the introduction of negative interest

    rates has started a new "age" of unconventional monetary policy and some argue that

    there is a need for further unconventional monetary tools. The purpose of this thesis is

    to analyze negative interest rates, how they came to be, what long-term eect they have

    on economic stability and if its possible to get out. We do this by analyzing existing

    theoretical and empirical research, including a theoretical model based on household

    consumption, a cost of money function and an illustration of the liquidity trap. Thereby

    the thesis concludes that the short term positive eects of negative interest rate policy

    get exhausted in the long-term as the negative eects increase over time, thus creating

    an environment of excessive borrowing both by consumers and governments that might

    lead to instability and economic downturn in the long-term. Furthermore, the negative

    interest rate policy is creating a diculty of getting out of the negative interest rate

    environment because the consumers and the rms have gotten used to the "cheap money"

    and might have hard time nancing day to day operations in normal interest rate world.

  • 39.
    Nsiah, Samuel Osei
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Ojeabulu, Godspower Stephen
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Bachelor Thesis in Economics:The Impact of Openness on the Swedish Economy2008Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    Subject / term: Economics (Nationalekonomi) / VT2008Title: The Impact of Openness on the Swedish EconomyAuthor(s): Nsiah Samuel Osei & Ojeabulu GodspowerSupervisor: Christos PaphristodoulouIntroduction:Over the decades there has been continues debate amongst economist on the relation betweenopenness and economic performance. From the comparative advantage theory of Heckscher-Ohlin, Openness can be an influencing factor in improving the economic performance of acountry. Based on Heckscher-Ohlin theory, a country will export products it has comparativeadvantage in to improve its overall economic performance.Problem:The purpose of this thesis work is to determine empirically, the type of economic growth thatoccurs as a result of the Openness of the Swedish Economy.Method: We will perform traditional Ordinary Least Square regression analysis on thevariables listed in the theoretical part of this thesis. We will also plot stationary andUnstationary time series graphs in relation with GDP, Exports and Imports.Results: The regression results shows that export has been more than import in Sweden andthat the type of growth experienced in Sweden was Pro-trade biased

  • 40.
    Nyabally, Maimuna
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    The Impact of Corporate Social Responsibility: A study in The Cosmetic Industry2019Independent thesis Advanced level (degree of Master (Two Years)), 10 poäng / 15 hpOppgave
    Abstract [en]

    Date:​ S​ ubmission date for final version: 11th of June 2019Level: ​Master’s thesis in Business Administration, 15 cr

    Institution: ​School of Business, Society and Engineering, Mälardalen UniversityAuthors: ​Maimuna Nyabally

    (93/11/11)

    Title: ​The impact of Corporate Social Responsibility on Brand Equity in the cosmetic industry.

    Tutor: ​Ulf R Andersson

    Keywords: ​corporate social responsibility, brand equity, brand awareness, perceived quality, brand association, brand loyalty

    Research questions: ​(1) What is the connection between Corporate Social Responsibility and Brand Equity in the cosmetic industry? (2) To what extent does Corporate Social Responsibility affect Brand Equity?

    Purpose: ​The purpose of the study is to explore the relationship between Corporate Social Responsibility (CSR) and Brand Equity in the cosmetic sector by using the mediating variables of brand awareness, brand association, perceived quality, and brand loyalty. The thesis provides a conceptual framework that emphasises the relationship between Corporate Social Responsibility (CSR) and Brand Equity. The study aim is to deepen the understanding of the effect Corporate Social Responsibility has on Brand Equity in the cosmetic sector from the consumer perspective.

    Method: ​A qualitative survey research method in the form of an online survey was utilised to solicit data. In addition, secondary data sources available from academic articles were used in the study. The results of the survey were analysed and interpreted with SurveyMonkey and SPSS. In order to analyse the constructs Cronbach Alpha was utilized, Pearson correlation was utilised to analyse the relationship between variables, and the Linear regression was utilised to analyse the Hypothesis.

    Conclusion: ​The structural equation model of the data gathered confirms consumer perspective of a brand is influenced by brand identity, which in turn adds brand equity. In the case of the Body Shop and Lush, CSR has a positive indirect effect on brand equity through brand awareness, brand association, and perceived quality. However, the results signpost CSR does not have an effect on brand equity through brand loyalty. Nevertheless, in regards to the positive results of the other variables one can state consumers are loyal towards brand due to perceived quality and brand association. Thus, further research is recommended to elaborate CSR indirect effect on brand equity through brand loyalty.

  • 41.
    Nyabally, Maimuna
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    The Impact of Corporate Social Responsibility on Brand Equiy: A study in The Cosmetic Industry2019Independent thesis Advanced level (degree of Master (Two Years)), 10 poäng / 15 hpOppgave
  • 42.
    Papahristodoulou, Christos
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    An analysis of Champions League match statistics2008Inngår i: International Journal of Applied Sports Sciences, ISSN 2233-7946, Vol. 20, nr 1, s. 67-93Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Official match-play statistics from the Champions League tournament between 2001-02 and 2006-07 are used to estimate the impact of various variables on the performance of the teams, measured by goal difference. We find that offensive tactics measured by simple variables, such shots on goals, for both home and away teams, as well as the ranking of the teams, or measured by transformed variables, such as such as shots on goal and corners per ball possession, have a strong positive effect. Variables with negative effects are: the punishment of the teams, measured by own yellow and red cards per fouls committed, or simply the red cards, the shots wide, the corners, the ball possession difference and how smart the defendants are playing, measured by the number of the opposite teams’ offside per own ball possession. In addition, the multinomial logistic regressions show that the differences in some match statistics and the ranking of the teams explain 9 out of 10 home victories and almost 6 out of 10 home defeats. Finally, one of the strongest explanatory variables, the positive difference in shots on goal, compared to equality in shots on goal between teams, leads to a probability of a home team victory by 66%.

  • 43.
    Papahristodoulou, Christos
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Bonus, efforts, costs, market size and teams' performance2009Annet (Annet vitenskapelig)
  • 44.
    Papahristodoulou, Christos
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, Industriell ekonomi och organisation.
    Evaluating the performance of UEFA Champions League scorers2013Konferansepaper (Annet vitenskapelig)
  • 45.
    Papahristodoulou, Christos
    Mälardalens högskola, Ekonomihögskolan.
    Option Strategies with linear programming2004Inngår i: European Journal of Operational research, ISSN 0377-2217, Vol. 157, nr 1, s. 246-256Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In practice, all option strategies are decided in advance, given the investor’s belief of the stock price. In this paper, instead of deciding in advance the most appropriate hedging option strategy, an LP problem is formulated, by considering all significant Greek parameters of the Black-Scholes formula, such as delta, gamma, theta, rho and kappa. The optimal strategy to select will be simply decided by the solution of that model. The LP model is applied to Ericsson’s call and puts options.

  • 46.
    Papahristodoulou, Christos
    Mälardalens högskola, Ekonomihögskolan.
    The relative efficiency of UEFA Champions League scorers2007Manuskript (preprint) (Annet (populærvitenskap, debatt, mm))
    Abstract [en]

    The mass media, the football supporters and other experts in many countries are

    often engaged in the ranking of football players. Given the heterogeneity of various

    leagues or series in which players play, such a comparison is almost impossible. On

    the other hand, the performance of players in international tournaments, like the

    FIFA world cup at the national team level, or the UEFA Champions League at the

    European Club level, can be measured, if we rely on “objective” measures and

    statistics. Obviously, since various positions of players are evaluated by different

    criteria, the heterogeneity is still apparent. In this paper we attempt to evaluate a

    small subset of a team’s players, namely its scorers, using UEFA:s official match-play

    statistics from the Champions League tournament 2006/07.

  • 47.
    Papahristodoulou, Christos
    et al.
    Mälardalens högskola, Ekonomihögskolan.
    Dotzauer, Erik
    Mälardalens högskola, Institutionen för matematik och fysik.
    Optimal portfolios using Linear Programming Models2004Inngår i: Journal of the Operational Research Society, ISSN 0160-5682, Vol. 55, nr 11, s. 1169-1177Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    The classical Quadratic Programming (QP) formulation of the well-known portfolio selection problem has traditionally been regarded as cumbersome and time consuming. This paper formulates two additional models, (i) maximin, and (ii) minimization of mean absolute deviation. Data from 67 securities over 48 months are used to examine to what extent all three formulations provide similar portfolios. As expected, the maximin formulation yields the highest return and risk, while the QP formulation provides the lowest risk and return, which also creates the efficient frontier. The minimization of mean absolute deviation is close to the QP formulation. When the expected returns are confronted with the true ones at the end of a six months period, the maximin portfolios seem to be the most robust of all.

  • 48.
    Petrova, Karina
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Bochkareva, Anastasiya
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Real exchange rate fluctuations under flexible exchange rate regime.: The impact of the economic shocks on Swedish Krona.2010Independent thesis Basic level (degree of Bachelor), 10 poäng / 15 hpOppgave
    Abstract [en]

    Title:

    Real exchange rate fluctuations under flexible exchange rate regime. The impact of the economic shocks on Swedish Krona.

    Authors:

    Anastasiya Bochkareva -870208; Karina Petrova – 880613

    Supervisor:

    Christos Papahristodoulou

    Key Words:

    Swedish Krona; Real Exchange Rate; Economic Shocks; Real demand Shocks; Monetary Shocks; Supply Shocks; Flexible Exchange Rate Regime; Aggregate Demand/Aggregate Supply Model; Regression Analysis

    Institution:

    Mälardalen University Sweden, School of Sustainable Development of Society and Technology, Box 883, 721 23 Västerås

    Course:

    Bachelor Thesis in Economics, 15 ECTS-points, spring semester 2010

    Problem:

    The extent of the Swedish krona fluctuations under flexible exchange rate regime in response to the supply, demand, and monetary shocks

    Purpose:

    The aim of this research study is to see which economic shocks had the greater impact on the Swedish krona under the flexible exchange rate regime. Precisely, were the theoretically suggest real demand and monetary shocks significant in explaining the real exchange rate fluctuations? And to what extent the labor productivity shock (the supply shock) influenced the krona during the studied period?

    Method:

    Multiple regression analysis; OLS

    Results:

    Monetary shocks accounted for major fluctuations of the Swedish krona since the currency was left to float freely. The real demand shocks were found less statistically significant. Supply shocks have had negligible impact on the Swedish krona fluctuations.

  • 49.
    Pop Gorea, Robert Antonio
    Mälardalens högskola, Akademin för ekonomi, samhälle och teknik.
    The Solow-Swan Model & The Romer Model - A Simulated Analysis -2018Independent thesis Basic level (degree of Bachelor), 15 poäng / 22,5 hpOppgave
    Abstract [en]

    The desire to understand and model the complex phenomenon of economic growth has been an old and interesting pursuit. Many such models have been proposed and two of the most prominent canditates are the Solow-Swan and Romer models. This paper investigates the similarities and differences of the a priori mentioned models on a balanced growth path and on a partial transition dynamics - only the capital dynamics - using numerical simulations. Furthermore, the problem of the speed of convergence shall be analyzed and a method for the analysis will be presented. The simulations are investigated by means of different economic scenarios, called experiments, and are used to illustrate the capabilities and incapabilities of each model. The findings of this paper are that both models are adequate for the investigation of economic growth. However, as seen by the mathematical analysis and the experiments, the incapability of the Solow-Swan model to adequately explain the technological growth rate is a strong disadvantage over the more modern Romer model. Furthermore, this paper summarizes the choices of the numerical values - using real world data - which should be used for the variables of the Solow-Swan and Romer models.

  • 50.
    Qi, Fangfang
    et al.
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Luan, Tian
    Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling.
    Cosmetic Chain Store Business in China2009Independent thesis Advanced level (degree of Master (One Year)), 15 poäng / 22,5 hpOppgave
12 1 - 50 of 75
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