Essays on European economic and monetary integration

This thesis focuses on two aspects of European economic integration: exchange rate stabilization between non-euro Countries and the Euro Area, and real and nominal convergence of Central and Eastern European Countries. Each Chapter covers these aspects from both a theoretical and empirical perspective. Chapter 1 investigates whether the introduction of the euro was accompanied by a shift in the de facto exchange rate policy of European countries outside the euro area, using methods recently developed by the literature to detect "Fear of Floating" episodes. I find that European Inflation Targeters have tried to stabilize the euro exchange rate, after its introduction; fixed exchange rate arrangements, instead, apart from official policy changes, remained stable. Finally, the euro seems to have gained a relevant role as a reference currency even outside Europe. Chapter 2 proposes an approach to estimate Central Bank preferences starting from the Central Bank's optimization problem within a small open economy, using Sweden as a case study, to find whether stabilization of the exchange rate played a role in the Monetary Policy rule of the Riksbank. The results show that it did not influence interest rate setting; exchange rate stabilization probably occurred as a result of increased economic integration and business cycle convergence. Chapter 3 studies the interactions between wages in the public sector, the traded private sector and the closed sector in ten EU Transition Countries. The theoretical literature on wage spillovers suggests that the traded sector should be the leader in wage setting, with non-traded sectors wages adjusting. We show that large heterogeneity across countries is present, and sheltered and public sector wages are often leaders in wage determination. This result is relevant from a policy perspective since wage spillovers, leading to costs growing faster than productivity, may affect the international cost competitiveness of the traded sector.

Sensitivity of the Top quark mass measurement with the CMS experiment at LHC using t-tbar multijet simulated events

This thesis comes after a strong contribution on the realization of the CMS computing system, which can be seen as a relevant part of the experiment itself. A physics analysis completes the road from Monte Carlo production and analysis tools realization to the final physics study which is the actual goal of the experiment. The topic of physics work of this thesis is the study of tt events fully hadronic decay in the CMS experiment. A multi-jet trigger has been provided to fix a reasonable starting point, reducing the multi-jet sample to the nominal trigger rate. An offline selection has been provided to reduce the S/B ratio. The b-tag is applied to provide a further S/B improvement. The selection is applied to the background sample and to the samples generated at different top quark masses. The top quark mass candidate is reconstructed for all those samples using a kinematic fitter. The resulting distributions are used to build p.d.f.’s, interpolating them with a continuous arbitrary curve. These curves are used to perform the top mass measurement through a likelihood comparison